HEADLAM GROUP PLC
Company number: 00460129
Reporting period:
1 July 2022 to 31 December 2022
Report filed on:
24 January 2023
Approved by:
Chris Payne
Payment statistics
Average time taken to pay invoices: 48 days
Invoices paid:
- within 30 days: 37%
- in 31 to 60 days: 30%
- in 61 days or more: 33%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 17%
Payment terms
Shortest standard payment periods
15 days
Longest standard payment period
130 days
Standard payment terms
A singular standard payment term does not exist across our supplier base due to the long-standing relationships that we have with our suppliers. The majority of terms are 10th of second month following date of invoice (being 40 to 70 days) or 10th of third month following date of invoice (being 70 to 100 days). In most cases settlement discount is included within the terms. Any amendments to such terms are negotiated and agreed by both parties. For service provider suppliers (i.e. excluding stock for resale suppliers) standard payment terms are end of month following date of invoice (being 30 to 60 days).
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
130 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
• All invoices are registered onto the system on receipt and subsequently authorised at the earliest possible date. • If for any reason there is a discrepancy between the invoice value and what our internal purchase order system is expecting the invoice is suspended pending confirmation of the query to determine if this is a supplier or internal error. • If it is deemed that the query is due to supplier error, a linked debit note is raised on our system and emailed to the supplier informing them of the query. • Once the credit note is received from the supplier it is authorised onto our system automatically authorising the invoice previously held under query. • The authorised invoice will then be paid in the next payment run to the supplier.
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