GOV.UK
SAMWORTH BROTHERS LIMITED
Company number: 03116767
Reporting period:
1 July 2023
to 31 December 2023
This report was filed on 25 January 2024
and approved by Charles Noble
Payment statistics
Average time taken to pay invoices: 50 days
Invoices paid:
- within 30 days: 20%
- in 31 to 60 days: 36%
- in 61 days or more: 44%
Invoices due but not paid within agreed terms: 7 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
60 days
Standard payment terms
Standard payment terms range from 14 to 60 days dependent on sector in which the supplier operates
Were there any changes to the standard payment terms in the reporting period?
Yes –
Yes, contractual standard payment terms have changed from 60 days from receipt of an invoice to: the Company shall pay the price to the Supplier in the Company’s next weekly payment run following the 60th day of the date of receipt of a valid invoice or confirmed receipt of the Goods and/or Services whichever is the later.
Were suppliers notified or consulted about these changes before they were made?
Yes – The change in communication to the suppliers was managed by the procurement team. The new terms and conditions have also been communicated via the company website.
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
Any complaints received and investigated by our accounts payable team. These are escalated to the head of procurement if appropriate.
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