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GREGORY DISTRIBUTION LIMITED

Company number: 01329163

Reporting period:
1 April 2023 to 30 September 2023

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This information is as reported by the business, and responses are in their own words.

This report was filed on 27 October 2023

and approved by Chris Corfield

Payment statistics

Average time taken to pay invoices: 53 days

Invoices paid:

• within 30 days: 8%
• in 31 to 60 days: 66%
• in 61 days or more: 26%

Invoices due but not paid within agreed terms: 6 %

Payment terms

Shortest standard payment period

31 days

Longest standard payment period

76 days

Standard payment terms

The company operates payment to a set of standard terms. These are end of invoice month plus 45 days, except for fuel and labour related suppliers which are end of month plus 30 days from date of invoice.

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

Yes – Yes, standard payment terms have changed from end of month plus 40 & 50 days from date of invoice to end of month plus 45 days due to consolidation across the group. End of month plus 30 days remains for fuel and labour.

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

Yes – Letters were sent to all affected suppliers in advance of the change to notify them

Maximum contractual payment period agreed

91 days

A small number of suppliers are based on 60 days from end of month of invoice.

Any other information about payment terms

N/A

Dispute resolution process

Claims for any disputed invoices are investigated by the finance department with the supplier to confirm the nature of the query. The invoice is typically placed on hold until the dispute is resolved. If the matter cannot be resolved by the finance department, the manager who placed the order for goods / services will be consulted to resolve the matter with their contact at the supplier.

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