BOOTS UK LIMITED
Company number: 00928555
Reporting period:
1 September 2023 to 29 February 2024
Report filed on:
16 August 2024
Approved by:
Samuel Hunter
Payment statistics
Average time taken to pay invoices: 31 days
Invoices paid:
- within 30 days: 66%
- in 31 to 60 days: 28%
- in 61 days or more: 6%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 1%
Payment terms
Shortest standard payment periods
75 days
Longest standard payment period
136 days
Standard payment terms
With respect to goods purchased for resale (GFR): Payment will be made by Boots in the weekly payment run that follows the 75th day (or following business day should this fall on a weekend or public holiday) after the end of the month of the later of: (i) the date of invoice; (ii) the date of receipt of a valid invoice; and (iii) the date on which we receive the relevant goods and services in full. Boots will make a deduction of 2.5% of the invoice value after VAT for payment made by that date. With respect to goods and services not for resale (GNFR): Boots standard settlement terms are 2.5% 105 days end of month. This means that payment will be made on the 105th day (or following business day should this fall on a weekend or public holiday) after the end of the month of invoice, with a deduction of 2.5% of the invoice value before VAT for payment made by that date.
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
136 days
Maximum contract payment period is due to 136 days end of month calculation whereby if, theoretically, an invoice was received on 1st of the month, then payment may not be made until 136 days thereafter.
Any other information about payment terms
The average payment days for Boots UK is 30 which is lower than the standard reported terms owing to: 1) The high volume of payments made to Group Companies, which are typically made on much shorter terms than third party suppliers and, 2) Suppliers on non-standard trading terms who have individually negotiated contracts.
Dispute resolution process
Our purchase orders contain contact details (email and/or telephone) for the relevant help desk or department to which payment queries should be directed by suppliers. All queries are managed in accordance with our internal processes and dealt with as quickly as possible.
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.
Yes
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