Published reports

LBS BUILDERS MERCHANTS LIMITED

Company number: 00254946

This information is as reported by the business, and responses are in their own words.

Reporting period:

1 July 2024 to 31 December 2024

Report filed on:

10 January 2025

Approved by:

philip evans

Payment statistics

Average time taken to pay invoices: 39 days

Invoices paid:

  • within 30 days: 30%
  • in 31 to 60 days: 60%
  • in 61 days or more: 10%

Late and disputed:

  • payments due in the reporting period which have not been paid within the agreed period: 2%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

45 days

Standard payment terms

LOWEST STANDARD PAYMENT TERMS ARE BASED ON NUMBER OF DAYS FROM DATE OF INVOICE. THE LONGEST STANDARD DAYS ARE BASED ON THE NUMBER OF DAYS FOLLOWING END OF MONTH GOODS WERE RECEIVED IN.

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

60 days

WE HAVE FOUR SUPPLIERS ON 60 DAY PAYMENT TERMS, BUT THESE ARE AN EXCEPTION TO THE RULE.

Any other information about payment terms

N/A

Dispute resolution process

THE COMPANY WORKS ACTIVELY WITH ITS SUPPLY CHAIN TO ENSURE DISPUTES AND QUERIES ARE DEALT WITH PROMPTLY AND EFFICIENTLY WITH THE SUPPLIER TO AVOID UNTIMELY DELAYS FOR BOTH PARTIES.

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.

Yes

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