RICHARDSONS LEISURE LIMITED
Company number: 00685774
Reporting period:
1 November 2021 to 1 May 2022
Report filed on:
22 September 2022
Approved by:
Greg Munford
Payment statistics
Average time taken to pay invoices: 36 days
Invoices paid:
- within 30 days: 45%
- in 31 to 60 days: 51%
- in 61 days or more: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 34%
Payment terms
Shortest standard payment periods
5 days
Longest standard payment period
90 days
Standard payment terms
We make 2 payment runs each month to our suppliers, on the 15th and 30th of each month. Certain key suppliers are paid on the next run after their invoice is received. Most suppliers will be paid at the end of the following month from the invoice date (05/03/22 invoice would be paid 30/04/22). Suppliers who have given us extended credit terms are paid at the end of the month, 2 months after the invoice date (05/03/22 invoice would be paid 30/05/22).
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
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
The invoice would be marked to 'hold' by the person responsible for signing off the invoice. It would then either be the responsibility of the person signing off the invoice or purchase ledger, based at head office, to contact the supplier and sort out the dispute, depending on its nature.
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