BETA This is a new service – your feedback will help us to improve it.

T.G. HOLDCROFT (HOLDINGS) LIMITED

Company number: 08734338

Reporting period:
1 January 2022 to 30 June 2022

---

This information is as reported by the business, and responses are in their own words.

This report was filed on 19 July 2022

and approved by Sheena Holdcroft-Carr

Payment statistics

Average time taken to pay invoices: 17 days

Invoices paid:

• within 30 days: 78%
• in 31 to 60 days: 20%
• in 61 days or more: 2%

Invoices due but not paid within agreed terms: 46 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

60 days

Standard payment terms

“It is the policy of the organisation to agree appropriate terms of payment with suppliers during contract negotiations. We aim to adhere to these terms in all cases subject to suppliers producing satisfactory invoices in a timely manner. Where payment terms have not been negotiated and agreed in advance, we aim to pay suppliers on the last working day of the month following invoice. This would be payment within a maximum of 60 days from invoice date and a minimum of 30 days with an average of 45 days. As a family owned business that has been trading for over 50 years we have very strong relationships with both our customers and suppliers alike and in circumstances where payment needs to be made outside of the usual monthly payment cycle we will always look to accommodate an earlier payment if possible”.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

60 days

Any other information about payment terms

N/A

Dispute resolution process

“The organisation is committed to dealing with its suppliers in a fair, honest and professional manner whilst seeking the best value for the business. We always seek to resolve queries as quickly as possible to the satisfaction of all parties prior to payment being made. Any queries should be sent to purchaseledger@holdcroft.com initially where we would aim to respond within 5 working days. In the event that the dispute could not be resolved by our Accounts Payable department, it would escalate in the first instance to the relevant head of department to seek resolution.”

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