GOV.UK
LAKESIDE FOOD GROUP LIMITED
Company number: 02395347
Reporting period:
1 January 2022
to 30 June 2022
This report was filed on 21 July 2022
and approved by Hayley Toleman
Payment statistics
Average time taken to pay invoices: 25 days
Invoices paid:
- within 30 days: 57%
- in 31 to 60 days: 41%
- in 61 days or more: 2%
Invoices due but not paid within agreed terms: 6 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
30 days
Standard payment terms
Unless we have entered into specific trading agreements with supplier our purchase is conducted in accordance with our Standard Terms and Conditions of Purchase which can be downloaded:
http://www.lakesidefoods.co.uk/downloads/std-terms-and-conditions-of-purchase.pdf
Most frequently used payment terms are 30 days of receipt of an accurate and valid VAT invoice. We also agree to different payment terms depending on types of contract, supplier or product: proforma for Far East purchase (LOC & Import Collection), Proforma ,7 days, fresh -14/21 days, 35 days, 30 days from month end
Lakeside Foods arranges weekly payment runs: Bacs +International and ad-hoc daily proforma payments if required.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
Purchase invoices should be e-mailed to purchaseledger@lakesidefoods.co.uk or delivered by post. Invoice is matched to purchase order by purchase ledger clerk and passed for payment with agreed payment terms. In case of any quantity or price discrepancy query will be passed to Lakeside Foods buyer responsible for purchasing of goods or service. Purchase ledger clerk will contact supplier to explain issue and request credit note or issue debit note if 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
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