NORCROS GROUP (HOLDINGS) LIMITED

Company number: 00566694

Reporting period:
1 April 2023 to 30 September 2023

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This report was filed on 18 October 2023

and approved by Mr A Hamer

Payment statistics

Average time taken to pay invoices: 54 days

Invoices paid:

• within 30 days: 23%
• in 31 to 60 days: 43%
• in 61 days or more: 34%

Invoices due but not paid within agreed terms: 69%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

180 days

Standard payment terms

Norcros Group (Holdings) Limited operates in the UK across 7 autonomous divisions each having its own standard payment terms. International suppliers may have longer payment terms based on the time taken to deliver the goods. Variations to these standard payment terms are by exception only, and only applied when negotiated and agreed by both parties.

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

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

150 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Invoices are matched on receipt and disputed invoices are notified to the supplier. Disputes are managed directly with the supplier and resolved items are reprocessed.

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, 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.

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