SALVATION ARMY TRADING COMPANY LIMITED
Company number: 02605817
Reporting period:
1 April 2024 to 30 September 2024
Report filed on:
16 October 2024
Approved by:
Kevin Dare
Payment statistics
Average time taken to pay invoices: 27 days
Invoices paid:
- within 30 days: 55%
- in 31 to 60 days: 40%
- in 61 days or more: 5%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 45%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Invoices are paid 30 days from invoice date as long as they have been approved and any goods are received or works completed. Our payment runs are always on a Tuesday however some invoices are paid on the month end payment run to reach the supplier by the last day of the month.
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
60 days
Some suppliers have 30 days month end payment terms which can result in 60 days for payment.
Any other information about payment terms
No further comment provided
Dispute resolution process
Invoices which are not authorised for payment are put on hold and the person who arranged the work or ordered the goods will contact the supplier to discuss this. Purchase Ledger keep a spreadsheet of all outstanding invoices and chase for approval on a monthly basis.
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.
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