BERRYWORLD LIMITED
Company number: 02864233
Reporting period:
4 July 2021 to 31 December 2021
Report filed on:
31 January 2022
Approved by:
Andrea Aburrow
Payment statistics
Average time taken to pay invoices: 10 days
Invoices paid:
- within 30 days: 90%
- in 31 to 60 days: 9%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 15%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
It is the Company’s policy to agree appropriate terms of payment with suppliers for each transaction or series of transactions, and to abide by those terms based on the timely receipt of satisfactory invoices and provisions of goods and/or services. The Company normally settles trade creditors within 30 day terms, however variations to these terms can exist on a supplier by supplier basis. There is a weekly payment run to suppliers on a Friday with payment made on the week that an invoice falls due. This means that whilst a number of invoices are paid past due, the difference is only due to timing of the weekly payment run.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
90 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
Disputes relating to payments are resolved via negotiation between the Procurement department and our vendors. Depending on the nature of the dispute this may be resolved via the presentation of documentary evidence i.e. 3rd party information relating to claims. Non payment of an invoice may relate to incorrect pricing and require a credit and reinvoice. In all instances a solution will be found that is agreeable to all parties.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No