LISTER WILDER LIMITED

Company number: 01966449

Reporting period:
1 January 2018 to 30 June 2018

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This report was filed on 31 July 2018

and approved by Charles King

Payment statistics

Average time taken to pay invoices: 45 days

Invoices paid:

• within 30 days: 34%
• in 31 to 60 days: 45%
• in 61 days or more: 21%

Invoices due but not paid within agreed terms: 77%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

365 days

Standard payment terms

Material parts and services provided are on a standard period of 30 days of the month following. Wholegoods (vehicles and machinery) stock terms differ by product and seasonality which can be from 30 days of the month following to 365 days based on the following criteria: Retailed goods - 30 day of the month following terms. Seasonal stock - 90-180 day terms. On occasion stock can be purchased on 365 day terms on agreement with supplier. Seasonal stock and 365 day term stock is on a pay when sold basis.

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

365 days

No further comment provided

Any other information about payment terms

The figure of 77% for payments due in the reporting period which have not been paid within the agreed period is misleading due to the following: As the majority of our invoices (not values) are on 30 day month following terms and our supplier accounts term are setup as 28 days month following to account for the leap year the reporting programme flags these as late payments. In addition the majority of our wholegoods stocking payments are made by Direct Debit from the supplier therefore these are never late. In the light of this report we are amending our recording if necessary and we should see an improvement in their accuracy.

Dispute resolution process

Dedicated manageress responsible for handling disputes and taken to the Director responsible when required

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