GOV.UK
PAVERS LIMITED
Company number: 01014213
Reporting period:
1 February 2022
to 31 July 2022
This report was filed on 9 November 2022
and approved by Jonathan King
Payment statistics
Average time taken to pay invoices: 36 days
Invoices paid:
- within 30 days: 58%
- in 31 to 60 days: 33%
- in 61 days or more: 9%
Invoices due but not paid within agreed terms: 1 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
60 days
Standard payment terms
It is the Company's policy to agree appropriate terms of payment with suppliers for each transaction or series of transactions, and to abide by those terms based on the timely submission of satisfactory invoices. The Company normally settles trade payables on the 30-day terms, however variations to these terms do exist based on agreements with certain suppliers.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Although payment terms for invoices paid by DD are 30 days, setting up new suppliers on Direct Debit might delay the payment of their first invoices, taking the terms to over 30 days. Some of the invoices for rent, service charges and marketing charges are sent by landlords 2 months in advance, however payment is made at the begging of the rental period, thus taking the payment terms to over 30 days.
Any other information about payment terms
N/A
Dispute resolution process
The Company is committed to dealing with its suppliers in a fair, honest and professional manner while seeking best value for the business. We seek to resolve queries as quickly as possible to everyone's satisfaction prior to payment being made. In the event that a dispute cannot be resolved by our accounts payable team, it would escalate in the first instance to the relevant Head of Department to seek a resolution.
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