G PLAN UPHOLSTERY LIMITED
Company number: 00149073
Reporting period:
4 July 2022 to 2 July 2023
Report filed on:
2 August 2023
Approved by:
Adam Fidoe
Payment statistics
Average time taken to pay invoices: 41 days
Invoices paid:
- within 30 days: 33%
- in 31 to 60 days: 53%
- in 61 days or more: 14%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 84%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
90 days
Standard payment terms
Material suppliers typically will be end of month 60 days and non material suppliers typically would be 30 days or 30 days end of month. However there are variants to these.
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
75 days
the answer is based on 60 days end of month, that based on averages we classify as 75 as it is two months plus half a month.
Any other information about payment terms
No further comment provided
Dispute resolution process
Customer will contact accounts payable by telephone or email raising concern on their dispute. A member of the team would respond to the query either through investigation, immediately or would refer the matter to a senior member of the team to assist. It is the businesses aim to action queries as early as possible to a satisfactory conclusion for 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