GOV.UK
PRADA RETAIL UK LIMITED
Company number: 03299599
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 2 August 2018
and approved by Stefano Sutter
Payment statistics
Average time taken to pay invoices: 88 days
Invoices paid:
- within 30 days: 3%
- in 31 to 60 days: 6%
- in 61 days or more: 91%
Invoices due but not paid within agreed terms: 0 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
120 days
Standard payment terms
most of our volume and value of trade payables is inter-company purchases of finished product that have 90 days payment terms, therefore we pay the majority of payables within the 60 days onwards bracket
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
120 days
on some capital expenditure from foreign suppliers, there are payment terms in excess of 120 days where a project is completed we have retention payments etc, that seem to obscure the payment terms
Any other information about payment terms
N/A
Dispute resolution process
Our Finance department - Accounts Payable function manages the administration and processing of supplier invoices. All communications and relationships are channelled through the department and escalated to Finance Manager if unresolved at this level. There is a separate customer services department and other corporate structures in place if any query is not satisfactorily resolved.
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