Published reports

WORKSPACE GROUP PLC

Company number: 02041612

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

Reporting period:

1 October 2023 to 31 March 2024

Report filed on:

30 April 2024

Approved by:

David Benson

Payment statistics

Average time taken to pay invoices: 19 days

Invoices paid:

  • within 30 days: 77%
  • in 31 to 60 days: 10%
  • in 61 days or more: 13%

Late and disputed:

  • payments due in the reporting period which have not been paid within the agreed period: 36%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

60 days

Standard payment terms

Purchase order payment terms: payment to be made within 28 days from the receipt of an undisputed valid invoice.

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

No

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

N/A

Maximum contractual payment period agreed

60 days

Longer terms agreed, due to the complexity of services provided.

Any other information about payment terms

N/A

Dispute resolution process

Any invoice disputes are dealt with between the supplier and the Workspace representative that initiated the contract/service/supply of goods.

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 Fair Payment Code must commit to paying 95% of their invoices within 60 days.

Yes, this business has signed up to: Prompt Payment Code

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