MORRISROE LIMITED

Company number: 01300615

Reporting period:
1 November 2023 to 30 April 2024

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

This report was filed on 10 June 2024

and approved by MICHAEL IOANNOU

Payment statistics

Average time taken to pay invoices: 39 days

Invoices paid:

within 30 days: 31%
in 31 to 60 days: 60%
in 61 days or more: 9%

Invoices due but not paid within agreed terms: 6%

Payment terms

Shortest standard payment periods

1 days

Longest standard payment period

45 days

Standard payment terms

Standard terms are 15 days from the end of the following calender month from the invoice date

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

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Where invoices are held suppliers are notified of the circumstances by e-mail. They can only be held for specific reasons eg price queries, missing or incorrect delivery notes, damages etc. Subject to resolution these are paid on the next available payment run. When disputes are unresolved it will be escalated to the Procurement manager or Finance Director for mediation and a final decision.

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.

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.

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.

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?