BETA This is a new service – your feedback will help us to improve it.

MEADOW FOODS LIMITED

Company number: 02720823

Reporting period:
1 April 2018 to 30 September 2018

---

This information is as reported by the business, and responses are in their own words.

This report was filed on 30 October 2018

and approved by Damian McDonald

Payment statistics

Average time taken to pay invoices: 31 days

Invoices paid:

• within 30 days: 91%
• in 31 to 60 days: 9%
• in 61 days or more: 0%

Invoices due but not paid within agreed terms: 0 %

Payment terms

Shortest standard payment period

14 days

Longest standard payment period

60 days

Standard payment terms

Cream invoices are paid between 14 and 30 days. Milk invoices are paid on the 15th of month following, which is an effective 30 days. This is standard practice for the dairy industry.
All other products including overheads, transport, storage and capital expenditure is paid between 30 and 60 days depending on specific supplier terms, which are negotiated individually with each supplier.

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

No

Maximum contractual payment period agreed

60 days

Any other information about payment terms

N/A

Dispute resolution process

All invoice discrepancies are raised with supplier's financing teams and unresolved problems are referred to respective commercial teams. Most problems are objective and resolved 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

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