CENTAUR SERVICES LIMITED
Company number: 00787385
Reporting period:
1 April 2018 to 30 September 2018
Report filed on:
8 November 2018
Approved by:
Brian Topper
Payment statistics
Average time taken to pay invoices: 53 days
Invoices paid:
- within 30 days: 6%
- in 31 to 60 days: 77%
- in 61 days or more: 17%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 47%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
55 days
Standard payment terms
45
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
55 days
No further comment provided
Any other information about payment terms
The 47% of invoices paid outside of terms includes those in dispute and so not due under full company terms and conditions. Of the 47%, 47% are paid within 5 days of the due date and 63% within 10 days.
Dispute resolution process
The Company is committed to dealing with its suppliers in a fair, honest and professional manner. We seek to resolve queries as quickly as possible to both party’s satisfaction prior to payment being made. Invoice queries are dealt with in the first instance by the Accounts Payable Department. The Accounts Payable team leader and Finance Manager review follow up activities on outstanding queries each week. An escalation process is in place whereby items not satisfactorily resolved in the first instance are elevated to the Group Financial Accountant and ultimately to the Group Finance Director.
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