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HAYLEY GROUP LIMITED

Company number: 01257303

Reporting period:
1 January 2021 to 30 June 2021

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This information is as reported by the business, and responses are in their own words.

This report was filed on 16 February 2023

and approved by James Brinton

Payment statistics

Average time taken to pay invoices: 67 days

Invoices paid:

• within 30 days: 86%
• in 31 to 60 days: 9%
• in 61 days or more: 4%

Invoices due but not paid within agreed terms: 1 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

90 days

Standard payment terms

As a standard from our suppliers we are provided with a minimum term of 30 days credit for the settlement of their invoices. The company also has some specialised suppliers whose payment terms are 90 days from eom

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

90 days

Our maximum contractual payment period of 90 days is purely on some specialised supplier accounts and is not as standard for the company.

Any other information about payment terms

N/A

Dispute resolution process

Any disputes are raised by the company to the supplier and are processed through the purchase ledger department. This is then in turn allocated to the branch responsible for the invoice in query for it to be resolved. Once this is resolved the invoice is then accepted and passed over for payment authorisation or a credit note is requested from 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 Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

No

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.

Yes

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