HALFORDS GROUP PLC
Company number: 04457314
Reporting period:
2 April 2022 to 30 September 2022
Report filed on:
7 November 2022
Approved by:
Jo Hartley
Payment statistics
Average time taken to pay invoices: 75 days
Invoices paid:
- within 30 days: 23%
- in 31 to 60 days: 12%
- in 61 days or more: 65%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 21%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
90 days
Standard payment terms
As far as standard terms are used, these are 90 days EOM for goods for resale and 60 days EOM for goods not for resale.
Were there any changes to the standard payment terms in the reporting period?
Standard terms, for goods not for resale, have moved from 45 days nett monthly to 60 days nett monthly
Were suppliers notified or consulted about these changes before they were made?
Via letter and email.
Maximum contractual payment period agreed
120 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
In the first instance any disputes would be raised via the company's Accounts Payable function. These would then be escalated within the company via both financial and commercial channels and ultimately resolved via negotiation with the supplier concerned.
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