Company number: 04078547
1 January 2022
to 30 June 2022
This report was filed on 4 August 2022
and approved by Shil Patel
Average time taken to pay invoices: 98 days
- within 30 days: 47%
- in 31 to 60 days: 21%
- in 61 days or more: 33%
Invoices due but not paid within agreed terms: 39 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
We pay our media vendors in line with industry standards, dependant on media type, which are between 25 and 60 days from receipt of a valid invoice following the end of the month of media activity. Where appropriate, vendors are required to also provide supporting documentation confirming media activity has run.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
We have a defined dispute resolution process to ensure that all supplier invoices are processed as efficiently as possible.
Suppliers are provided with details of the issues that may affect the processing of their invoices and assistance by providing guidance on what is to be provided on their invoices to ensure payment can be made in a timely manner.
Our AP helpdesk offers suppliers support through to query resolution and can be contacted via a dedicated e-mail address or phone number. All invoices that are in query are logged and if unresolved at the time of supplier payment, details of the reasons for payment delay are communicated to the relevant suppliers.
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?