LEICA BIOSYSTEMS NEWCASTLE LIMITED

Company number: 02163063

Reporting period:
1 July 2023 to 31 December 2023

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This report was filed on 22 January 2024

and approved by Steven Elstob

Payment statistics

Average time taken to pay invoices: 59 days

Invoices paid:

• within 30 days: 17%
• in 31 to 60 days: 50%
• in 61 days or more: 33%

Invoices due but not paid within agreed terms: 77%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

90 days

Standard payment terms

Payment terms negotiated with individual suppliers and range from 0-90 days

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

Yes – Terms are negotiated with suppliers when contracts come up for renewal

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

Yes – As above

Maximum contractual payment period agreed

90 days

We only perform one payment run per month so contracted payment terms may be stretched if it falls between monthly payments. This is why % of Invoices are not paid within agreed contract terms, however suppliers are aware and agree to one payment run a month.

Any other information about payment terms

N/A

Dispute resolution process

Invoices are recorded on ERP systems and blocked for payment until dispute resolved liaising with suppliers to try and resolve quickly.

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, 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.

Yes

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