WYBOSTON LAKES LIMITED
Company number: 01122944
Reporting period:
1 July 2023
to 31 December 2023
This report was filed on 31 January 2024
and approved by Julie Ireland
Payment statistics
Average time taken to pay invoices: 29 days
Invoices paid:
- within 30 days: 46%
- in 31 to 60 days: 53%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 7 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
60 days
Standard payment terms
Our standard terms are 30 days following invoice date, although we do have large key supplier agreements in place including 60 days after month end, which account for a large proportion of our supplier invoices. We have some specialist suppliers who require 7 - 14 days.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Our maximum contractual days are linked to both product and order size and are industry recognised payment terms.
Any other information about payment terms
We make 2 payment runs a month and pay all invoices due on those runs. To hit payment terms to the day we would have to run daily runs which is not an efficient way or usual way for an organisation to trade. We have good relationships with all our suppliers.
Dispute resolution process
We would follow the dispute resolution procedure as set out in the relevant contract which would typically include putting the dispute inwriting to the supplier and enter into dialogue to resolve the issue.
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.
Yes
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