ACHESON & ACHESON LIMITED
Company number: 02764368
Reporting period:
1 January 2022 to 30 June 2022
Report filed on:
5 August 2022
Approved by:
John Andrew Gallemore
Payment statistics
Average time taken to pay invoices: 53 days
Invoices paid:
- within 30 days: 9%
- in 31 to 60 days: 31%
- in 61 days or more: 60%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 9%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
98 days
Standard payment terms
Acheson and Acheson’s standard payment terms are 1st week of the third month following month of invoice. The due date is calculated by applying the agreed payment terms to the invoice date. Invoices are paid on Fridays, and actual payment dates are calculated so that payments should arrive on or before the due date.
Acheson and Acheson’s terms with their Far East suppliers are 60 days from document date.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
98 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
In case of any disputes related to invoice queries, suppliers can contact accounts.payable@acheson.co.uk who will work with the supplier to resolve the payment issue/dispute.
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 Fair 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