HIGHLAND FUELS LIMITED

Company number: SC032343

Reporting period:
1 July 2023 to 31 December 2023

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This report was filed on 1 May 2024

and approved by Nicholas Clinton

Payment statistics

Average time taken to pay invoices: 20 days

Invoices paid:

• within 30 days: 92%
• in 31 to 60 days: 6%
• in 61 days or more: 2%

Invoices due but not paid within agreed terms: 12%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

45 days

Standard payment terms

Standard payment terms are as agreed with Suppliers or as per their standard terms and conditions.

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

Answer not provided

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

N/A

Maximum contractual payment period agreed

45 days

The company operates a strict policy of paying suppliers within contractual terms. Instances where invoices are paid out with contractual terms relate to specific queries/disputes which are resolved expediently with Suppliers.

Any other information about payment terms

N/A

Dispute resolution process

Any disputes or complaints in the first instance are generally promptly resolved by the Purchase Ledger Supervisor or the Manager within the company responsible for authorising the invoices in question. On any rare occasions where these are not resolved, they are escalated to the Finance Director or Director with authorising responsibility depending on the nature of the invoice in question. Disputes or complaints are normally resolved within 5 working 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, 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