STARK BUILDING MATERIALS UK LIMITED
Company number: 01647362
Reporting period:
1 February 2024 to
31 July 2024
This report was filed on 6 September 2024
and approved by James Martin
Payment statistics
Average time taken to pay invoices: 41 days
Invoices paid:
- within 30 days: 32%
- in 31 to 60 days: 34%
- in 61 days or more: 34%
Invoices due but not paid within agreed terms: 19%
Payment terms
Shortest standard payment periods
39 days
Longest standard payment period
92 days
Standard payment terms
Provided that the invoice submitted is correct and contains the information as required under the contract, and save where the parties have agreed other payment terms, STARK shall pay for goods and services in the first week following the end of the second month following the month in which the goods are delivered or or services are provided and accepted as conforming to the standards required by STARK under the contract
Were there any changes to the standard payment terms in the reporting period?
Yes. Negotiations are ongoing with suppliers on agreed payment terms. All changes are made with agreement from the suppliers
Were suppliers notified or consulted about these changes before they were made?
Yes. Negotiations are ongoing with suppliers on agreed payment terms. All changes are made with agreement from the suppliers
Maximum contractual payment period agreed
105 days
Foreign Invoices 105 Days From Invoice UK Invoices 4 Months and 3 Working Days
Any other information about payment terms
N/A
Dispute resolution process
Disputes are communicated via electronic written communication and where necessary followed up with the supplier by the dedicated accounts payable team
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