GOV.UK
BRITNED DEVELOPMENT LIMITED
Company number: 04251409
Reporting period:
1 July 2023
to 31 December 2023
This report was filed on 5 February 2024
and approved by Tom Smith
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 59%
- in 31 to 60 days: 37%
- in 61 days or more: 4%
Invoices due but not paid within agreed terms: 39 %
Payment terms
Shortest standard payment period
8 days
Longest standard payment period
90 days
Standard payment terms
Standard is 30 days from Invoice date unless invoice was provided incorrectly and or not within 4 workdays of invoice date. Than we process with standard term days from date we received the amended invoice.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
42 days
Any other information about payment terms
Upon placing an order with our supplier we send them a purchase order, this mentions the correct way of providing BDL with their invoice to ensure a smooth payment process. POH text: Other Comments or Special Instructions Please quote PO number on all correspondence. Invoices & all finance correspondence to be sent to the following email address:box.britned.invoice@BritNed.com To ensure a smooth payment process, please ensure invoices are addressed correctly (as above), reference the PO number and contain your bank details. We are happy to receive multiple invoices in a single email Accounts contact tel: +31 2620 20135" When we first started this new process the first invoices were processed when they would be for older Purchase orders. . But after we stared sending out our new Purchase Orders with all the necessary information then we stopped processing incorrect provided invoices.
Once invoice was/is received it is checked on proper format. If anything is not correct we send email with attachment back to supplier with our Accounts Payable process guidelines.
Dear Sir Madam,
We would like to inform you on the BritNed Development Limited (BDL) Accounts Payable (AP) Process.
First time supply of your Sales Invoice.
A newly introduced recognition software will pick up your sales invoices and add them to the BDL Accounts Payable Process.
The below mentioned email Address has been selected for new pdf invoices only.
box.britned.invoice@britned.com
We ask you only send your future invoices to this email address.
Keeping in mind these few simple guidelines to ensure a smoot AP Process.
- in PDF format
- multiple invoices in separate pdf files can be provided to this email address in one email.
- invoice and its attachments need to be combined however before you provide them.
- Invoice will have to mention your companies bank details
- Invoice should always mention the correct BDL address, see attached notification
- Invoice should always mention the correct BDL Purchase order number, please get in touch with your BDL OPS contact to obtain it.
**********************************************************************************
Any other contact with BDL Finance Department.
When you have any other reason to contact the BDL Financial Department, for instance to:
- inquire about a payment date (pre or post reminder),
- or to provide us with additional information,
- or when you wish to resend an invoice,
- or any other possible reason.
Please send that email/document to:
box.britned.finance@britned.com
We kindly request to add the second email address to your customer details and help us optimize our AP process.
********************************************************************************************
As for your current inquiry
Dispute resolution process
Upon placing an order with our supplier we send them a purchase order, this mentions the correct way of providing BDL with their invoice to ensure a smooth payment process. POH text: Other Comments or Special Instructions Please quote PO number on all correspondence. Invoices & all finance correspondence to be sent to the following email address:box.britned.invoice@BritNed.com To ensure a smooth payment process, please ensure invoices are addressed correctly (as above), reference the PO number and contain your bank details. We are happy to receive multiple invoices in a single email Accounts contact tel: +31 2620 20135" When we first started this new process the first invoices were processed when they would be for older Purchase orders. . But after we stared sending out our new Purchase Orders with all the necessary information then we stopped processing incorrect provided invoices.
Once invoice was/is received it is checked on proper format. If anything is not correct we send email with attachment back to supplier with our Accounts Payable process guidelines.
Dear Sir Madam,
We would like to inform you on the BritNed Development Limited (BDL) Accounts Payable (AP) Process.
First time supply of your Sales Invoice.
A newly introduced recognition software will pick up your sales invoices and add them to the BDL Accounts Payable Process.
The below mentioned email Address has been selected for new pdf invoices only.
box.britned.invoice@britned.com
We ask you only send your future invoices to this email address.
Keeping in mind these few simple guidelines to ensure a smoot AP Process.
- in PDF format
- multiple invoices in separate pdf files can be provided to this email address in one email.
- invoice and its attachments need to be combined however before you provide them.
- Invoice will have to mention your companies bank details
- Invoice should always mention the correct BDL address, see attached notification
- Invoice should always mention the correct BDL Purchase order number, please get in touch with your BDL OPS contact to obtain it.
**********************************************************************************
Any other contact with BDL Finance Department.
When you have any other reason to contact the BDL Financial Department, for instance to:
- inquire about a payment date (pre or post reminder),
- or to provide us with additional information,
- or when you wish to resend an invoice,
- or any other possible reason.
Please send that email/document to:
box.britned.finance@britned.com
We kindly request to add the second email address to your customer details and help us optimize our AP process.
********************************************************************************************
As for your current inquiry
Please check the yellow highlighted reasons for your invoice not being processed. Once the Finance department has received your corrected invoice we will process it against he received date plus payment term days.
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