BARRETTS OF CANTERBURY LIMITED
Company number: 00349070
Reporting period:
1 July 2022 to 31 December 2022
Report filed on:
30 January 2023
Approved by:
Mr P Barrett
Payment statistics
Average time taken to pay invoices: 31 days
Invoices paid:
- within 30 days: 50%
- in 31 to 60 days: 47%
- in 61 days or more: 3%
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
0 days
Longest standard payment period
Answer not provided
Standard payment terms
Our business standard terms are as follows. The length of time taken to pay invoices is determined by the payment terms laid down by our suppliers. We make two payment runs per month, including all authorised and due invoices at that time. Payment is by BACS. The majority, by value, of the invoices received to Barretts of Canterbury Limited are for our franchised vehicle purchases and aftersales parts supply. These accounts are collected by Direct Debit with dates and terms decided by the manufacturer/supplier.
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
0 days
The maximum contracted payment period would be for the purchase of vehicles on Direct Debit.
Any other information about payment terms
No further comment provided
Dispute resolution process
ii. All business departments are based locally, in East Kent. Communication is fluid and informal, with suppliers being able to contact the business easily. Invoice disputes are resolved in the first instance within our purchase ledger department, requesting further details, delivery notes or order numbers. We run an internal order number logging system, available throughout the company to assist with invoice queries. If further queries exist line managers are asked to resolve directly with the supplier. Invoices are almost always resolved without problem.
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