BELFIELD FURNISHINGS LIMITED
Company number: 04416650
Reporting period:
1 January 2023
to 30 June 2023
This report was filed on 8 August 2023
and approved by Rachael Rebecca Nevins
Payment statistics
Average time taken to pay invoices: 63 days
Invoices paid:
- within 30 days: 5%
- in 31 to 60 days: 28%
- in 61 days or more: 67%
Invoices due but not paid within agreed terms: 89 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
60 days
Standard payment terms
Payment terms are agreed with key suppliers individually and may vary depending on the nature of the goods or services being provided. Standard payment terms are typically 30-60 from date of invoice, 30 days end of month or nett monthly.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
Where disputes arise, these are referred to the purchasing department who will investigate and liaise with suppliers to reach a resolution.
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