H.WESTON & SONS LIMITED
Company number: 00672234
Reporting period:
1 October 2023 to 31 March 2024
Report filed on:
17 May 2024
Approved by:
HM Thomas
Payment statistics
Average time taken to pay invoices: 49 days
Invoices paid:
- within 30 days: 15%
- in 31 to 60 days: 68%
- in 61 days or more: 17%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 2%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
Answer not provided
Standard payment terms
Standard Payment Terms are 60 days but this is negotiable by the supplier. If the suppliers are small or grant no credit terms then payment is normally made on the next available payment run. Where suppliers offer additional credit terms H Weston & Sons will pay to those terms.
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
90 days
Only 7 suppliers have terms over 60 days.
Any other information about payment terms
No further comment provided
Dispute resolution process
Should there be a reason why the invoice cannot be paid the authoriser of the invoice would contact the supplier to resolve the issue without too much delay avoiding any reason to affect the status of the supplier account and any payment terms. Once the invoice has been resolved it would then be paid on the next available payment run should it have missed its original payment date.
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.
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