GOV.UK
ZENTIA LIMITED
Company number: 00207732
Reporting period:
1 January 2022
to 30 June 2022
This report was filed on 5 July 2022
and approved by Catherine Brannigan
Payment statistics
Average time taken to pay invoices: 51 days
Invoices paid:
- within 30 days: 77%
- in 31 to 60 days: 23%
- in 61 days or more: 0%
Invoices due but not paid within agreed terms: 90 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
90 days
Standard payment terms
Zentia’ standard payment terms are 60 days, end of the month, following the date of invoice, which ranges from 60 to 90 days depending on the date of the supplier invoice. This is applicable mainly to its raw material suppliers.
All other supplier terms are negotiated at the time of order and Zentia will normally agree to pay the supplier on their terms. There are a number of suppliers whose terms are payable upon receipt of invoice which is impossible to meet so will always be reported as paid outside of terms.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Any other information about payment terms
Zentia is not able to record the date of receipt of an invoice within its systems so it has been assumed that the invoice date is the day the invoice has been received as the majority of invoices are received by e-mail. This may slightly distort some of the statistics above if an old / disputed invoice is paid a long time after the actual invoice date.
Dispute resolution process
All payment queries/disputes should be sent to tmvaccounts@zentia.com in the first instance. If necessary, the Accounts Payable team will refer to other business areas within Zentia (for example Purchasing, Stores, Distribution centre, etc.) to resolve the enquiry. If the matter remains unresolved it may be escalated to more senior management.
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
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