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HYDES' BREWERY LIMITED

Company number: 00126186

Reporting period:
2 April 2018 to 1 October 2018

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

This report was filed on 2 October 2018

and approved by Adam James Mayers

Payment statistics

Average time taken to pay invoices: 44 days

Invoices paid:

• within 30 days: 22%
• in 31 to 60 days: 69%
• in 61 days or more: 9%

Invoices due but not paid within agreed terms: 29 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

58 days

Standard payment terms

Our Standard Payment Terms are 15 days after the end of the month of invoice date.

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

No

Maximum contractual payment period agreed

58 days

Terms are negotiated with every supplier and appropriate payment terms are agreed based on the nature of goods and/or services provided.

Any other information about payment terms

Hydes' seeks to pay all of its creditors when due. Suppliers are only paid late where a dispute has arisen which requires resolution.

Dispute resolution process

All supplier invoices are agreed to either purchase order, delivery note, approved price list and/or cost manager authorisation. Should the invoice be incorrect or goods/services not received as billed, then the supplier is contacted and the appropriate action is taken to resolve the dispute with the supplier. This process will vary by individual supplier and/or query.

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