POUNDLAND LIMITED
Company number: 02495645
Reporting period:
1 October 2023 to 30 September 2024
Report filed on:
7 October 2024
Approved by:
Ben Jenner
Payment statistics
Average time taken to pay invoices: 32 days
Invoices paid:
- within 30 days: 60%
- in 31 to 60 days: 26%
- in 61 days or more: 14%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 30%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
120 days
Standard payment terms
We do not operate standard payment terms. Payment terms and payment methods are agreed by the individual negotiations with each supplier.
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
120 days
Payment terms are negotiated on an individual basis with each supplier and type of goods or services purchased. Payments for the majority of our suppliers is via BAC's payment run. As a result timings of our bacs payment runs versus the due dates on invoices, some invoices fall as paid late. 71% of invoices are paid within one week of the due date.
Any other information about payment terms
N/A
Dispute resolution process
All disputes relating to invoice should be referred to the accounts payable team (accounts.payable@poundland.co.uk). Disputes should reference invoice numbers and values as this will aid the investigation process. The accounts team will liase with the relevant departments to resolve any outstanding issues around price, quantity and provide progress updates.
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