GOV.UK
SEVERFIELD (UK) LIMITED
Company number: 02668795
Reporting period:
1 April 2023
to 30 September 2023
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 26 October 2023
and approved by Jennifer Magowan
Payment statistics
Average time taken to pay invoices: 40 days
Invoices paid:
- within 30 days: 48%
- in 31 to 60 days: 43%
- in 61 days or more: 9%
Invoices due but not paid within agreed terms: 12 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
75 days
Standard payment terms
End of month following month of invoice
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
75 days
We recognise that 9% of payment paid over 60 days is less than the code requires. This figure excluding intra group payments is 4%
Any other information about payment terms
N/A
Dispute resolution process
All disputes are escalated to the Accounts Payable Manager who works with the teams resolved 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.Yes – Prompt payment code
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