HUGHES ELECTRICAL LIMITED

Company number: 00406069

Reporting period:
1 October 2022 to 31 March 2023

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This report was filed on 20 April 2023

and approved by Chris Thornton

Payment statistics

Average time taken to pay invoices: 23 days

Invoices paid:

• within 30 days: 86%
• in 31 to 60 days: 13%

Invoices due but not paid within agreed terms: 2%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

60 days

Standard payment terms

The Company follow the standard payment terms of each supplier. They range from 7 to 60 days, with the majority being 30 days. 

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

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

60 days

N/A

Any other information about payment terms

N/A

Dispute resolution process

We take our relationship with suppliers seriously work to build honest, sustainable relationships. We support our suppliers by having a dedicated account contact this includes a phone number so they can talk directly. Normally disputes are resolved very quickly between the account contact and the supplier. Any escalations are raised to the Finance Director to investigate and resolve. 

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, 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