HERCULES SITE SERVICES PLC
Company number: 06607001
Reporting period:
1 October 2023 to 31 March 2024
Report filed on:
4 November 2024
Approved by:
Wayne Phillips
Payment statistics
Average time taken to pay invoices: 21 days
Invoices paid:
- within 30 days: 77%
- in 31 to 60 days: 20%
- in 61 days or more: 3%
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: 24%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
Purchase Ledger (supplier payments) – 30 days end of month (standard). If terms agreed in advance by both parties’, then payment terms will be adhered to where possible. Subcontract – Our standard payment terms are variable between 30 and 45 days. 30 days is the most common. We tend to pay to what their stated terms are.
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
The statistical information provided includes payments to both purchase ledger and sub-contract suppliers.
Any other information about payment terms
No further comment provided
Dispute resolution process
Formal supplier statement reconciliation, requesting copies of POD’s, invoices and credit notes where differences are identified – every supplier every 60 days. Dedicated mailbox in place which aims to get a response out to suppliers out within 48 hours where disputes are raised. Any unapproved invoices are chased regularly to ensure we stay on top of any disputes.
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