FOCUS 4 U LTD.

Company number: 04771242

Reporting period:
1 June 2023 to 31 August 2023

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This report was filed on 10 July 2024

and approved by Richard Gunston

Payment statistics

Average time taken to pay invoices: 58 days

Invoices paid:

• within 30 days: 36%
• in 31 to 60 days: 36%
• in 61 days or more: 30%

Invoices due but not paid within agreed terms: 79%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

61 days

Standard payment terms

The business does not use standard terms. Therefore the ‘standard payment terms’ we report on is the most frequently used payment terms. Which is 30 days, unless otherwise agreed on an invoice by invoice basis.

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

61 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Resolutions to disputes are dealt with on a case by case basis. Any complaints or concerns will be considered by the Purchase Ledger Manager within the Purchase Ledger Team. The Purchase Ledger Manager will liase directly with the supplier within the smallest timeframe possible, to ensure any business disruption is kept to a minimum.

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