HAYLEY GROUP LIMITED
Company number: 01257303
Reporting period:
1 January 2023 to 30 June 2023
Report filed on:
1 August 2023
Approved by:
James Brinton
Payment statistics
Average time taken to pay invoices: 65 days
Invoices paid:
- within 30 days: 89%
- in 31 to 60 days: 7%
- in 61 days or more: 3%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 1%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
90 days
Standard payment terms
As a standard from our suppliers we are provided with a minimum term of 30 days credit for the settlement of their invoices. The company also has some specialised suppliers whose payment terms are 90 days from eom
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
90 days
Our maximum contractual payment period of 90 days is purely on some specialised supplier accounts and is not as standard for the company.
Any other information about payment terms
No further comment provided
Dispute resolution process
Any disputes are raised by the company to the supplier and are processed through the purchase ledger department. This is then in turn allocated to the branch responsible for the invoice in query for it to be resolved. Once this is resolved the invoice is then accepted and passed over for payment authorisation or a credit note is requested from the supplier.
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.
No, this business has not signed up to a code of conduct or standards on payment practices.
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.
Yes
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