W.BOYES & CO.,LIMITED
Company number: 00066251
Reporting period:
25 February 2024 to 24 August 2024
Report filed on:
23 September 2024
Approved by:
David Hughes
Payment statistics
Average time taken to pay invoices: 32 days
Invoices paid:
- within 30 days: 68%
- in 31 to 60 days: 29%
- in 61 days or more: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 4%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
90 days
Standard payment terms
The Company's standard payment terms are 30 days, however variations to these standards may be agreed with suppliers when contracting. Shorter terms may be agreed where settlement discount or discounted pricing are offered. Longer Standard payment terms offered by suppliers will be taken where a suppliers standard terms of trade are accepted.
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
90 days
No further comment provided
Any other information about payment terms
During the period the company transitioned to a new accounts payable automation system. At the beginning of the period payments were slightly delayed due to an issue with the BACS file, thereafter improvements in payment settlement have been made compared to the old system.
Dispute resolution process
Disputes relating to invoices will be raised with the supplier by the Company's member of staff responsible for the expense with a view to resolving the issues as soon as possible, ensuring that payments are accurate but not unduly delayed.
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