ASSOCIATED NEWSPAPERS LIMITED

Company number: 00084121

Reporting period:
3 October 2022 to 2 April 2023

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

This report was filed on 26 April 2023

and approved by James Welsh

Payment statistics

Average time taken to pay invoices: 26 days

Invoices paid:

within 30 days: 88%
in 31 to 60 days: 9%
in 61 days or more: 3%

Invoices due but not paid within agreed terms: 22%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

61 days

Standard payment terms

Associated Newspapers standard terms are that invoices fall due at the end of the following month from receipt of invoice. There are a significant number of variations to these standard terms which reduce the payment period to less than 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

61 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

If at any time any question, dispute or difference arises between Associated Newspapers Limited and its supplier or distributor, parties are obliged to escalate the dispute to senior representatives of the respective businesses who shall use their reasonable endeavours to resolve the dispute in good faith. There is a dedicated shared service centre in Leicester with a specialist purchase to pay team that deals with payment disputes that arise. The escalation point for Associated Newspapers Limited would be the Payables and Credit manager.

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.

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.

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?