GOV.UK
ST. CLEMENTS PRESS (1988) LIMITED
Company number: 02174119
Reporting period:
1 January 2022
to 30 June 2022
This report was filed on 28 July 2022
and approved by James Lund
Payment statistics
Average time taken to pay invoices: 21 days
Invoices paid:
- within 30 days: 84%
- in 31 to 60 days: 15%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 46 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
60 days
Standard payment terms
The most common supplier payment terms are:
• Net 30 – All vendors
• Immediate – Vendors
The maximum payment period agreed to in January – June 2022 is 60 days.
Payment terms depends largely on agreements with respective suppliers. Should the agreement be silent, the default payment term of 30 applies.
There have been no changes to standard payment terms in the reporting period.
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 business contact is responsible for confirming that the good / service delivered is of the required quality before payment is actioned.
Invoice disputes are addressed with the suppliers directly by the business contact. Invoices under dispute can be processed within Oracle ebusiness suite and placed on hold. Approval and payment may take some time as dependent on the resolution of the dispute.
Suppliers can contact the Global Accounts Payable team via its group mailbox accounts.payable@ft.com. An Accounts Payable Analyst would be available to answer supplier queries 22 x 5.
The Global Accounts Payable team ensures that authorizers are regularly chased to approve invoices in their approval queues and any long outstanding invoices not approved within reasonable timeframes will be queried, thereby, identifying any disputed invoice.
We recommend suppliers to send their invoices directly to email address accounts.payable@ft.com to be lodged within our Oracle system and to commence tracking through to settlement
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