POUNDLAND LIMITED
Company number: 02495645
Reporting period:
1 October 2021 to 31 March 2022
Report filed on:
4 May 2022
Approved by:
David Williams
Payment statistics
Average time taken to pay invoices: 34 days
Invoices paid:
- within 30 days: 57%
- in 31 to 60 days: 26%
- in 61 days or more: 17%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 28%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
90 days
Standard payment terms
We do not operate standard payment terms. Payment terms and payment methods are agreed by individual negotiations with each supplier.
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
Payment terms are negotiated on an individual basis with each supplier and type of goods or services purchased. Payment for the majority of our suppliers is via a weekly BAC's payment run. As a result of timing of our BAC's payment runs versus the due dates on invoice, some invoices fall as paid late. 78% of invoices are paid within one week of the due date.
Any other information about payment terms
N/A
Dispute resolution process
All disputes relating to invoice payments should be referred to the accounts payable team (accounts.payable@poundland.co.uk). Disputes should reference invoice numbers and values as this will aid the investigation process. the accounts payable team will liaise internally with the relevant departments to resolve any outstanding issues are price, quantity and provide progress updates
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