NIMAX THEATRES LIMITED
Company number: 05493237
Reporting period:
3 April 2023 to 1 October 2023
Report filed on:
25 October 2023
Approved by:
Tony Yoe
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 53%
- in 31 to 60 days: 47%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 47%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Standard terms adopted are as per suppliers, being 30 days
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
30 days
No further comment provided
Any other information about payment terms
Factors such as late receipt of supplier invoices, chasing invoices not received from suppliers, the time taken to check invoice details and resolution of queries by the supplier are the main causes of payments falling outside of the standard terms. However 3% of the invoices were paid on day 31
Dispute resolution process
All invoices are checked to ensure that the service or product has been fulfilled or received and that it was correctly charged. All supplier statements are checked and invoices not received are followed up with the relevant Nimax person (responsible to the procurement) and then with the supplier for copy invoices. Any disputed or queried invoices are referred back to the relevant person within Nimax to resolve with the supplier. The relevant Nimax person may give advance instruction to hold over invoices still to be received, pending resolution of service performance or receipt of goods
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.
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