KENNEDYS MANAGEMENT SERVICES LIMITED
Company number: 07138859
Reporting period:
1 May 2022
to 31 October 2022
This report was filed on 30 November 2022
and approved by Nick Thomas
Payment statistics
Average time taken to pay invoices: 36 days
Invoices paid:
- within 30 days: 64%
- in 31 to 60 days: 27%
- in 61 days or more: 9%
Invoices due but not paid within agreed terms: 32 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
50 days
Standard payment terms
Our standard payment terms are that goods and services will only be paid after any issues or queries have been resolved. All invoices are subject to an approval process within their respective departments and must be authorized before they can be paid. Authorized invoices will be paid net monthly on the weekly supplier payment run, except where different payment terms have been agreed in writing with a supplier. The weekly payment run includes all Purchase Ledger invoices that fall due at the time or by the time the next payment run is made.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
Any payment disputes shall in the first instance be referred to the member of staff managing the contract. If the parties are unable to reach a resolution, it may be referred to the relevant head and, where necessary, the firm's Finance Director.
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