WALTER LILLY & CO. LIMITED
Company number: 00352437
Reporting period:
1 October 2022 to 31 March 2023
Report filed on:
18 April 2023
Approved by:
Shaun Frampton
Payment statistics
Average time taken to pay invoices: 34 days
Invoices paid:
- within 30 days: 72%
- in 31 to 60 days: 26%
- in 61 days or more: 2%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 1%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
60 days
Standard payment terms
We have varying payment times for our suppliers/subcontractors. The shortest is typically for our utility companies or our labour supply companies and the longest will be for our subcontractors who enter into a contract for these terms.
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
60 days
Subcontractors enter into a contract with us for each job that we employ them on. We make sure that they are paid within the contracted time in 99% of cases.
Any other information about payment terms
N/A
Dispute resolution process
Any disputes are usually sorted by the person who raised the order for the goods/supply from the supplier/subcontractor. Should this not be possible, a Senior Manager will try to resolve the issue and in the rare event of no resolution a Director will attempt to resolve the issue.
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.
Yes, this business has signed up to: 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.
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