GOV.UK
BOOHOO.COM UK LIMITED
Company number: 05723154
Reporting period:
1 March 2023
to 31 August 2023
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 29 September 2023
and approved by Shaun McCabe
Payment statistics
Average time taken to pay invoices: 53 days
Invoices paid:
- within 30 days: 19%
- in 31 to 60 days: 53%
- in 61 days or more: 28%
Invoices due but not paid within agreed terms: 56 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
75 days
Standard payment terms
Terms are agreed with suppliers and vary from 30 days to 75 days. A number of our overseas inventory suppliers are paid in advance of delivery.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
75 days
Any other information about payment terms
N/A
Dispute resolution process
Personnel in the accounts payable team are allocated a number of suppliers to manage and the account handler deals with disputes in the first instance. If the dispute cannot be easily resolved, the matter is passed to the team supervisors and, if necessary, escalated to the Group Finance Manager or the CFO.
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