GOV.UK
GREENHOUS LIMITED
Company number: 00747073
Reporting period:
1 January 2023
to 30 June 2023
This report was filed on 31 July 2023
and approved by Mike Pawson
Payment statistics
Average time taken to pay invoices: 37 days
Invoices paid:
- within 30 days: 37%
- in 31 to 60 days: 47%
- in 61 days or more: 16%
Invoices due but not paid within agreed terms: 3 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
45 days
Standard payment terms
In line with industry practice, manufacturers insist upon direct access to our bank accounts and they take funds to pay for both vehicles and parts when they fall due. Other suppliers are normally paid in accordance with their terms of trading. Greenhous’s standard terms of trading are 30 days end of month following the month in which the invoice is received.
We pay non-vehicle supplies within 30 days of the end of the month in which the invoice is received.
The overwhelming majority of supply is from motor manufacturers. Greenhous deals on those manufacturers' standard terms which require payment by direct debit withdrawal from our account within 2-3 working days of invoice date in the vast majority of cases. Other suppliers’ payments are required within 2-3 working days of vehicle registration date on the sale. All vehicle suppliers are paid within 2-3 working days of due date as per standard manufacturers terms. Otherwise our standard trading terms are 30 days from end of the month the invoice is received.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
For non-vehicle suppliers the following process is operated:
1. Monthly Payment Runs
100 BACS payments are made each month
10 Cheque payments are made each month
100 DD’s/SO payments are made each month
Within these some divisions make weekly BACS/Cheque payments.
These are used to pay our suppliers who are on our standard terms which are either 30 or 45 days nett (by 45 days nett, I mean an invoice received in June would be paid by the end of July).
2. Direct Debit Payments
Is used to pay utilities, vehicle leases, company credit cards, hotels, rates, Royal Mail, equipment rental, waste disposal, vehicle parts, pension contributions, PDQ Merchant services, GAP insurance and used vehicle warranties, VOSA for MOT’s.
3. Standalone BACS
Used vehicle purchases will be made by BACS, agency and labour suppliers are paid on 14 days; staff recruitment are paid on 7 days.
Any other information about payment terms
N/A
Dispute resolution process
Any dispute is resolved locally between company and the supplier on an individual basis with the primary aim that disputes are settled within 30 days and contractual payment dates where 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