MONEYBARN NO.1 LIMITED

Company number: 04496573

Reporting period:
1 July 2022 to 31 December 2022

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This report was filed on 30 January 2023

and approved by Chris Anderson

Payment statistics

Average time taken to pay invoices: 30 days

Invoices paid:

• within 30 days: 96%
• in 31 to 60 days: 3%
• in 61 days or more: 1%

Invoices due but not paid within agreed terms: 4%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

Answer not provided

Standard payment terms

Moneybarn does not impose a standard contract on its suppliers. Moneybarn standard practice is to sign the supplier contract and terms. Moneybarn work to 30 day payment terms for supplier payment, which is discussed with the supplier at the time of signing their contract to align the payment terms expectations of both parties. Moneybarn make best efforts to meet the payment terms in the contract where possible, and almost all payments are made within 30 days, aside from genuinely disputed invoices.

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

30 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Moneybarn communicate promptly and effectively if there is a dispute on payment and act fairly towards suppliers in this regard.

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, this business has signed up to: The 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