GOV.UK
WILSON JAMES LIMITED
Company number: 02269560
Reporting period:
1 February 2018
to 31 July 2018
This report was filed on 28 August 2018
and approved by Mark Abraham
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 39%
- in 31 to 60 days: 50%
- in 61 days or more: 11%
Invoices due but not paid within agreed terms: 27 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
60 days
Standard payment terms
Suppliers are paid 30 days from the end of the month in which their invoice arrives in our offices.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Suppliers are paid 30 days from the end of the month in which their invoice arrives in our offices. This can be as long as 60 days (e.g. Invoice received on 5th March will be paid 30th April)
Any other information about payment terms
No changes to terms. However, our ERP system has been amended to reduce the payment cycle time. This has resulted in a reduction in average time to pay from 50 days to 35 days.
We are now targeting our least compliant suppliers to address the unacceptable 11% figure in 61 days plus. We are confident that this attention will result in the improvement for the next reporting period.
Dispute resolution process
Goods / services ordered by operations team and receipted electronically on ERP system. Central procurement & Purchase ledger teams process orders and invoices. Invoices are paid when goods / services are receipted by operations and payment is due per payment terms.
Procurement & Purchase ledger teams act as intermediary to resolve disputes bewtween suppliers and operations.
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.Yes – Prompt Payment code
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