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FUTURE PUBLISHING LIMITED

Company number: 02008885

Reporting period:
1 April 2018 to 30 September 2018

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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 Penny Ladkin Brand

Payment statistics

Average time taken to pay invoices: 45 days

Invoices paid:

• within 30 days: 21%
• in 31 to 60 days: 62%
• in 61 days or more: 17%

Invoices due but not paid within agreed terms: 37 %

Payment terms

Shortest standard payment period

45 days

Longest standard payment period

60 days

Standard payment terms

Standard terms of business are 45 days from date of invoice for contributors and 60 days from date of invoices for suppliers 

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

No

Maximum contractual payment period agreed

60 days

60 days from end of month

Any other information about payment terms

Any variation on standard terms must be requested on a new vendor forms and approved by the Finance Manager or Group Financial Controller 

Dispute resolution process

Any queries relating to payment of invoices should be sent to Accounts Payable Team 

The supplier should liaise with the person who orders the goods/service who placed the order to resolve any dispute or complaint.  

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