HIGHLAND SPRING LIMITED
Company number: SC067339
Reporting period:
1 January 2023
to 30 June 2023
This report was filed on 25 July 2023
and approved by Les Montgomery
Payment statistics
Average time taken to pay invoices: 64 days
Invoices paid:
- within 30 days: 5%
- in 31 to 60 days: 38%
- in 61 days or more: 57%
Invoices due but not paid within agreed terms: 29 %
Payment terms
Shortest standard payment period
1 days
Longest standard payment period
90 days
Standard payment terms
MONTH END FOLLOWING MONTH OF INVOICE
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Any other information about payment terms
N/A
Dispute resolution process
Invoices are matched on receipt and disputed invoices notified to the supplier. Disputes are managed directly between the supplier and the individual who requested the goods or who also advise Accounts Payable that the invoice is in dispute and should be placed on hold. This allows Accounts Payable to provide an explanation if the supplier contacts them about payment.
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