BEACONSFIELD FOOTWEAR LIMITED
Company number: 00641365
Reporting period:
29 January 2018 to 28 July 2018
Report filed on:
24 August 2018
Approved by:
Andrew Buckley
Payment statistics
Average time taken to pay invoices: 37 days
Invoices paid:
- within 30 days: 44%
- in 31 to 60 days: 45%
- in 61 days or more: 11%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 74%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
60 days
Standard payment terms
Our large raw materials & footwear suppliers are typically on 30 - 45 days credit. The vast majority of our other suppliers are mainly on 30 days terms.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
The "Percentage of invoices not paid within agreed terms" statistic is a function of our weekly payment routines. On the payment run dates the majority of the invoices will be technically overdue by a few days at most; hence our average credit period being only 37 days.
Dispute resolution process
Any disputes are dealt with in the first instance by either the Accounts Payable team or through the department that originally agreed the contract. If a resolution can not be found it is then escalated up to senior management and ultimately to the Directors.
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, 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