BROOKS BROS. (UK) LIMITED
Company number: 01644146
Reporting period:
1 July 2023 to 31 December 2023
Report filed on:
18 January 2024
Approved by:
MC Fleming
Payment statistics
Average time taken to pay invoices: 34 days
Invoices paid:
- within 30 days: 51%
- in 31 to 60 days: 43%
- in 61 days or more: 6%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 60%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
90 days
Standard payment terms
Brooks Bros (UK) Ltd doesn’t impose standard terms onto suppliers instead choosing to negotiate payment terms with each supplier separately. This results in a variety of payment terms from as little as 7 days from invoice date up to 90 days from invoice date. The two most common, representing nearly 60% of all suppliers, are Net Monthly Account i.e. payment is due on the last day of the month following the month of invoice and 30 days from date of invoice. The latter terms are the most common and are reported here as the company’s standard terms.
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
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
If there is a dispute about payment, the supplier should contact the Accounts Payable team based at Blackwater Place, The Causeway, Maldon, Essex CM9 4GG in the first instance. Telephone: 01621 877400, email: accounts@brookstimber.co.uk In many cases payment disputes are caused by basic errors such as sending invoices to the site that placed the purchase order rather than to the Accounts Payable team, not quoting purchase order numbers on invoices and failing to issue monthly statements which allow missing invoices to be identified. If there is a question around the price, quality or quantity of supplies made to Brooks Bros (UK) Ltd, it is likely that the supplier will have been contacted by the team that placed the original purchase order shortly after receipt of the goods or services. Resolution of these types of issues often depends on the speed that the supplier works at. Once the dispute is resolved, payment will be made on the next payment run.
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