WH HOLDING LIMITED
Company number: 05993863
Reporting period:
1 June 2021 to 30 November 2021
Report filed on:
9 May 2022
Approved by:
Andy Mollett
Payment statistics
Average time taken to pay invoices: 47 days
Invoices paid:
- within 30 days: 28%
- in 31 to 60 days: 53%
- in 61 days or more: 19%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 31%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Standard payments terms are assumed to be 30 days, but constraints due to the need to obtain authorization, either by way of a closed purchase order or the signature of a budget holder on an invoice, inevitably results in delays beyond the assumed date. As a result, we apply a 40days credit period from invoice receipt, authorization and processing through to payment.
Delays also arise due to invoices being received late from the supplier and queries arising.
In addition, delays may occur from time to time due to many departments in the company working on a hybrid basis (office & home) since the COVID-19 pandemic, although processes and systems now in place have reduced these significantly.
Were there any changes to the standard payment terms in the reporting period?
See above.
Were suppliers notified or consulted about these changes before they were made?
No
Maximum contractual payment period agreed
61 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Disputes are usually dealt with by Finance staff in the first instance, who will then enlist the assistance of the budget holder if required, and escalated further if necessary.
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 Fair 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