LYRECO UK LIMITED

Company number: 00442696

Reporting period:
1 January 2024 to 30 June 2024

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This report was filed on 30 July 2024

and approved by duane fullwood

Payment statistics

Average time taken to pay invoices: 35 days

Invoices paid:

• within 30 days: 35%
• in 31 to 60 days: 52%
• in 61 days or more: 13%

Invoices due but not paid within agreed terms: 1%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

130 days

Standard payment terms

Our standard terms for suppliers is L030 (this averages out at 55 days), this is the invoice date, add 30 days, then the date is taken to the month end and paid on the following 10th eg an invoice dated 15 May add 30 days - 14 June take date to end of month - 30 June paid on the following 10th - invoice paid on the 10th July

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

130 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Supplier invoices are checked via statement and also GRNI (Goods received not invoiced) reports to identify any missing invoices. Invoice queries (where Price or Values do not match) are dealt with by the invoice entry team and the Product Managers.

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