MORNING FOODS,LIMITED
Company number: 00375854
Reporting period:
1 August 2021
to 31 January 2022
This report was filed on 18 February 2022
and approved by Peter Mellor
Payment statistics
Average time taken to pay invoices: 34 days
Invoices paid:
- within 30 days: 40%
- in 31 to 60 days: 56%
- in 61 days or more: 4%
Invoices due but not paid within agreed terms: 8 %
Payment terms
Standard payment period for qualifying contracts
25 days
Standard payment terms
The company's standard payment terms vary between 15 and 60 days depending on supplier type.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
The company seeks to resolve disputes relating to payments in a conciliatory manner which is fair to both parties where at all possible.
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.Yes – The company operates within the Grain and Feed Trade Association payment guidelines where applicable.
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