GEOFFREY OSBORNE LIMITED

Company number: 00873093

Reporting period:
1 October 2021 to 31 March 2022

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This report was filed on 25 April 2022

and approved by Stuart Hammond

Payment statistics

Average time taken to pay invoices: 33 days

Invoices paid:

• within 30 days: 60%
• in 31 to 60 days: 31%
• in 61 days or more: 10%

Invoices due but not paid within agreed terms: 41%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

60 days

Standard payment terms

The Company has various payment terms. Purchase ledger - These are agreed with suppliers as part of contract negotiations. Generally, the Company has 30 days terms. For a small number of larger suppliers the Company has agreed terms of up to 60 days from the end of the month. Subcontract ledger - These vary by framework and contract and range from 28 days to 45 days from date of application.

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

60 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Disputes can be sent to the finance team (finance@osborne.co.uk) who will aim to resolve.

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, this business has signed up to: Prompt Payment Code and Construction Supply Chain Payment Charter

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.

Yes

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.

Yes

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