THE REED BOARDALL GROUP LIMITED

Company number: 06509923

Reporting period:
1 October 2023 to 31 March 2024

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This report was filed on 24 April 2024

and approved by Sarah Roberts

Payment statistics

Average time taken to pay invoices: 56 days

Invoices paid:

• within 30 days: 26%
• in 31 to 60 days: 51%
• in 61 days or more: 22%

Invoices due but not paid within agreed terms: 32%

Payment terms

Shortest standard payment periods

14 days

Longest standard payment period

60 days

Standard payment terms

Different payments terms exist within the group entities. The two main standards are; end of month following month of invoice for Reed Boardall Transport Limited, 35 days from invoice date for Reed Boardall Cold Storage Limited.

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

Descriptions have been updated to allow 3 days for receipt of invoice and 2 processing days of payments through BACS.

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

60 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Queries are raised on receipt of invoice with the supplier directly and a swift resolution is sort. Usually queries are dealt with within 5 working days. If it is a complex query then it may be escalated to a senior manager or director to resolve.

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, this business has not signed up to a code of conduct or standards on payment practices.

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