GOV.UK
CHARLIES STORES LIMITED
Company number: 01761459
Reporting period:
1 August 2021
to 31 January 2022
This report was filed on 11 May 2023
and approved by Gwyn Watkin
Payment statistics
Average time taken to pay invoices: 43 days
Invoices paid:
- within 30 days: 16%
- in 31 to 60 days: 65%
- in 61 days or more: 19%
Invoices due but not paid within agreed terms: 90 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
90 days
Standard payment terms
Our standard payment terms are 35 days end of month.
We have a number of extended payment plans to cover goods that are delivered prior to season commencing.
We pay a 30% deposit payment for container stock with full payment made on submission of documents before the stock is delivered.
All invoices for services are usually paid within 15 days.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Supplier invoices are matched to the purchase order and the goods received note. If the supplier invoice contains products which were not delivered, we process a shortage claim on the supplier. Similarly, if the invoice price is higher than the price on the purchase order the invoice is not passed for payment until a credit note is received from the supplier.
The original supplier invoice is held until we have received all shortage claims or credit notes.
Any other information about payment terms
N/A
Dispute resolution process
Claims for short deliveries are sent to the supplier as soon as the goods are received. These claims are then resent to the supplier after 30 days if we have not received a credit note. Claims for pricing errors are sent to the supplier when the invoice is matched and then resent to the supplier if no credit is received after 30 days. We run our supplier payments weekly and maintain a regular dialogue with our suppliers to ensure that all invoice discrepancies are resolved as quickly as possible.
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