GOV.UK
WARNER CHAPPELL MUSIC LIMITED
Company number: 00488466
Reporting period:
1 April 2022
to 30 September 2022
This report was filed on 21 October 2022
and approved by Katherine Alderton
Payment statistics
Average time taken to pay invoices: 14 days
Invoices paid:
- within 30 days: 97%
- in 31 to 60 days: 1%
- in 61 days or more: 2%
Invoices due but not paid within agreed terms: 12 %
Payment terms
Shortest standard payment period
1 days
Longest standard payment period
90 days
Standard payment terms
Suppliers of goods and services are offered 30 day payment terms and their invoices included in a weekly payment run as they fall due. These terms do vary on occasion based on individual agreements with suppliers. Standard terms of royalty payments are 90 days post the relevant exploitation period in order to allow for aggregation of sales data, receipt of payments to customers and calculation of royalties.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Shorter payment terms are available for sole traders, consultants and small businesses to be agreed during the contract negotiation period.
Any other information about payment terms
N/A
Dispute resolution process
Payment disputes are initially reported to Accounts Payable where a member of the team will investigate the dispute with the account relationship holder. When required, the dispute will be escalated to the Accounts Payable Manager & Financial Controller. Once resolved the supplier will be paid in accordance with its payment terms or if the invoice is past its due date then on the next payment run.
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