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MENZIES DISTRIBUTION SOLUTIONS LIMITED

Company number: 03805401

Reporting period:
1 January 2023 to 1 July 2023

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

This report was filed on 31 July 2023

and approved by Paul McCourt

Payment statistics

Average time taken to pay invoices: 39 days

Invoices paid:

• within 30 days: 45%
• in 31 to 60 days: 44%
• in 61 days or more: 11%

Invoices due but not paid within agreed terms: 35 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

60 days

Standard payment terms

Supplier set up form is completed using terms of 60 days from date of invoice, which are our standard AP payment terms. Set up of accounts other than this must be approved by the Group Financial Controller. For subcontractors, an agreement is signed confirming payment terms prior to engagement.

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

No

Maximum contractual payment period agreed

91 days

Any other information about payment terms

N/A

Dispute resolution process

Payment enquiries can be emailed to the Company Accounts Payable team.
Payment terms enquiries are normally responded to within 7 working days, following internal review, subject to availability of Group Financial Controller input.
Invoices that do not contain a valid Purchase Order or a Purchase Order that has been fully utilised will be returned via email to the supplier with instructions of what steps to take next.

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