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MONSOON BRANDS LTD

Company number: 12543476

Reporting period:
28 August 2022 to 25 February 2023


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

This report was filed on 24 March 2023

and approved by Mark Holloway

Payment statistics

Average time taken to pay invoices: 69 days

Invoices paid:

Invoices due but not paid within agreed terms: 61 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

120 days

Standard payment terms

Non-stock suppliers: 60 or 90 days
Stock suppliers: 120 days

For stock suppliers, payment terms typically commence from the date the goods are received in our warehouse.

Shorter payment terms may be agreed with freelancers and sole traders as part of commercial negotiations.

If due dates fall on a weekend or bank holiday, they will be paid on the next working day.

Due to cut-off dates on weekly payment runs, some payments may be paid 1-4 days after their due date. These payments have been reported as ‘not been paid within agreed terms’ above. Payments made 1-4 days after their due date account for circa 75% of the late payments total.

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

No

Maximum contractual payment period agreed

120 days

Any other information about payment terms

N/A

Dispute resolution process

Complaints and disputes should be raised initially with the Accounts Payable department via email or telephone. If the issue is not resolved, it will be escalated in the first instance to the Accounts Payable Manager and then to the Financial Controller if required.

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.

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