HEYWOOD WILLIAMS COMPONENTS LIMITED
Company number: 02523354
Reporting period:
1 July 2024 to 31 December 2024
Report filed on:
21 January 2025
Approved by:
Oliver Burgess
Payment statistics
Average time taken to pay invoices: 46 days
Invoices paid:
- within 30 days: 35%
- in 31 to 60 days: 49%
- in 61 days or more: 16%
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
0 days
Longest standard payment period
90 days
Standard payment terms
30 Days EOM & 60 Days EOM
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
90 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
Discrepancies are dealt with in a professional manner and reported to the supplier at the earliest opportunity following receipt of the invoice , Finance issue a GRNI report weekly to alert Supply chain to situations where goods may have been received but invoices not yet processed , statements are reconciled as part of the month end process / procedure . The finance team are available between 8.30am and 5.00PM Monday to Thursday and 8.30am to 4.30 Pm on a Friday , Finance are also contactable by email . In the event an invoice is held for payment the Finance Manager will communicate with teams and suppliers with reasons and help with the resolution
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.
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