GOV.UK
VIDENDUM PRODUCTION SOLUTIONS LIMITED
Company number: 01738425
Reporting period:
1 January 2022
to 30 June 2022
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 14 July 2022
and approved by Ian Castle
Payment statistics
Average time taken to pay invoices: 59 days
Invoices paid:
- within 30 days: 17%
- in 31 to 60 days: 38%
- in 61 days or more: 45%
Invoices due but not paid within agreed terms: 26 %
Payment terms
Standard payment period for qualifying contracts
60 days
Standard payment terms
60 end of month when invoice is issued
Were there any changes to the standard payment terms in the reporting period?
Yes – Negotiations are now mostly on individual basis with each (new) supplier, due to the pandemic and shortage of components.
Were suppliers notified or consulted about these changes before they were made?
Yes – Individual communication if supplier affected
Maximum contractual payment period agreed
75 days
Any other information about payment terms
N/A
Dispute resolution process
Accounts Payable or Procurement liaise with suppliers to resolve the issue. Address is Videndum Production Solutions Ltd, William Vinten Building, Easlea Road, Bury St Edmunds, IP32 7BY
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