Company number: 06119048
1 July 2022
to 31 December 2022
This report was filed on 30 January 2023
and approved by Elizabeth Fullerton-Rome
Average time taken to pay invoices: 30 days
- within 30 days: 76%
- in 31 to 60 days: 18%
- in 61 days or more: 6%
Invoices due but not paid within agreed terms: 46 %
Standard payment period for qualifying contracts
Standard payment terms
45 days from invoice date
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
In the first instance disputes are dealt with by the accounts payable team contacting the suppliers to resolve issues. If these issues cannot be resolved then they will be escalated to the procurement team to seek resolution. For the most part all disputes are resolved in a timely manner within 30 days of the issue arising.
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?