HERTFORDSHIRE CATERING LIMITED
Company number: 08409608
Reporting period:
1 October 2023 to 31 March 2024
Report filed on:
1 May 2024
Approved by:
Jolyon Adam
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%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 1%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
30 days unless otherwise agreed. Agreement for shorter periods is normally only forthcoming if there is some advantage to the company, such as an early payment discount
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
Our major supplier has agreed to extend their terms to 60 days. this will assist with cashflow restrictions during quiet summer trading periods.
Any other information about payment terms
No further comment provided
Dispute resolution process
If a manager disputes a vendor invoice they should contact the vendor to discuss. payment will be withheld until the issue is resolved
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