PGDS (UK ONE) LIMITED

Company number: 01967719

Reporting period:
1 January 2024 to 30 June 2024

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This report was filed on 24 July 2024

and approved by Lee Bullen

Payment statistics

Average time taken to pay invoices: 55 days

Invoices paid:

• within 30 days: 69%
• in 31 to 60 days: 18%
• in 61 days or more: 13%

Invoices due but not paid within agreed terms: 35%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

Answer not provided

Standard payment terms

To prevent a delay in invoice processing, invoices must be clearly legible, comply with HMRC regulations and suppliers should include: the PO number (where relevant), M&G relevant contact, department code, bank details and payment instructions. Invoices issued without the above details may not be accepted and may be returned for amendment before being processed.

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

30 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Suppliers that wish to dispute a payment received from M&G should contact the Accounts Payable team, ap.queries@mandg.com. The Accounts Payable team will consider the complaint and respond accordingly.

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