GOV.UK
SHOREFIELD HOLIDAYS LIMITED
Company number: 00607997
Reporting period:
1 May 2023
to 31 October 2023
This report was filed on 21 November 2023
and approved by Paula J Curtis
Payment statistics
Average time taken to pay invoices: 32 days
Invoices paid:
- within 30 days: 47%
- in 31 to 60 days: 48%
- in 61 days or more: 5%
Invoices due but not paid within agreed terms: 37 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
365 days
Standard payment terms
The majority of suppliers are paid by the end of month following invoice. Some food and brewery suppliers are on payment by direct debit with terms of 14 days from date of invoice.
Caravan and lodge suppliers have bespoke, special terms depending on the manufacturer and the type/cost of the units being purchased. Many of these are on extended credit terms from 3 to 12 months with an over-riding “payment when sold” basis, which means they become payable immediately when we have re-sold that unit to a customer.
CIS sub-contractors’ terms are varied but we aim to pay these within 7-14 days. Agency, entertainment, non-CIS small sole traders and other “staff” costs are paid within 7-14 days.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
365 days
365 days is the maximum credit given from a holiday home manufacturer, however when
the unit is sold payment is due immediately.
Any other information about payment terms
We try and be as flexible with payment terms as financially viable, as we have a large range of suppliers who differ considerably in size and complexity. We ask the majority of suppliers to agree for us to pay them by the end of the month following invoice to enable us to keep administration and banking costs to a minimum by making one payment per supplier per month wherever possible. We also pay quite a number of supplier by direct debit.
Dispute resolution process
: Payments complaints should be made in the first instance to the Accounts Payable Team either by:
phone on 01590 648354 or email accounts-payable@shorefield.co.uk
If the issue is not resolved it can be escalated to the Accounts Office Manager; Kellie Weeks on 01590 648351 or by email to kellie.weeks@shorefield.co.uk
If the dispute/complaint is still not resolved after 1 month it will be investigated by the Company Account/Director Paula Curtis - email to paula.curtis@shorefield.co.uk
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