GUARDIAN MEDIA GROUP PLC
Company number: 00094531
Reporting period:
3 October 2022 to 2 April 2023
Report filed on:
31 May 2023
Approved by:
Keith Underwood
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 73%
- in 31 to 60 days: 17%
- in 61 days or more: 10%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 31%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
30 days from date of invoice for undisputed compliant invoices quoting a valid purchase order. Early settlement discount is only agreed on an exception basis.
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
30 days
No further comment provided
Any other information about payment terms
Guardian Media Group were hit by a ransomware attack during the reporting period which impacted our ability to promptly pay our suppliers from late December to the end of the reporting period. This has seen a deterioration in our average days to pay and overall payment metrics.
Dispute resolution process
Any payment disputes would first need to be emailed to accounts.payable@theguardian.com with the supplier detailing the issue. If the AP team are not able to easily resolve the issue, this should be raised to the P2P Manager. Any complaints regarding payments or non-payments should be raised to the P2P manager directly for them to resolve. Any LBA letters should go directly to the P2P manager to resolve in an appropriate manner.
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: Small Business Commissioner 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.
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