SIMPSONS MALT LIMITED
Company number: 00153026
Reporting period:
1 July 2023
to 31 December 2023
This report was filed on 24 January 2024
and approved by Graeme Hogg
Payment statistics
Average time taken to pay invoices: 29 days
Invoices paid:
- within 30 days: 57%
- in 31 to 60 days: 41%
- in 61 days or more: 2%
Invoices due but not paid within agreed terms: 8 %
Payment terms
Shortest standard payment period
28 days
Longest standard payment period
90 days
Standard payment terms
Our standard payment terms are end of month following receipt of invoice and invoices will be paid in the weekly payment run that follows this
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Any other information about payment terms
N/A
Dispute resolution process
Supplier payment issues that arise will be considered by the department who have procured the qualifying contract. They will contact the supplier at the earliest convenience to attempt to find a solution
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