GOV.UK
AO RETAIL LIMITED
Company number: 03914998
Reporting period:
1 April 2023
to 30 September 2023
This report was filed on 20 October 2023
and approved by Mark Higgins
Payment statistics
Average time taken to pay invoices: 32 days
Invoices paid:
- within 30 days: 50%
- in 31 to 60 days: 44%
- in 61 days or more: 6%
Invoices due but not paid within agreed terms: 35 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
135 days
Standard payment terms
AO RETAIL - Standard payment terms for stock suppliers range from 45 days to 60 days EOM. For non-stock suppliers, terms are generally 30Days, with the only exceptions being in specific agreed circumstances between both parties.
AO MOBILE-Payment runs are run every Wednesday to pay invoices due up to Friday to clear on the Friday so any invoices due on any day other than a Friday will always be paid late.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
135 days
Any other information about payment terms
N/A
Dispute resolution process
AO RETAIL - All queries are managed by a dedicated supplier finance team who contact the supplier with any invoices which can not be matched to receipt of goods. AO Retail Limited has regular dialogue with suppliers and attempts to resolve queries in a timely manner.
AO MOBILE -Disputes which are more will be escalated to the Purchasing for Qty or Pricing issues for Stock queries for all non stock queries Purchase ledger will escalate to the relevant department to resolve all disputes as quickly.
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