OUR MEDIA LIMITED
Company number: 05715415
Reporting period:
1 July 2024 to 31 December 2024
Report filed on:
21 January 2025
Approved by:
Donald Millar
Payment statistics
Average time taken to pay invoices: 29 days
Invoices paid:
- within 30 days: 45%
- in 31 to 60 days: 53%
- in 61 days or more: 2%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 84%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
365 days
Standard payment terms
30 Days from invoice date - see website WWW.ourmedia.co.uk
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
365 days
No further comment provided
Any other information about payment terms
One supplier has agreed repayment terms of 365 days, our standard terms are 30 days, although there are several smaller suppliers with terms of 7 and 14 days. some of major suppliers are 60 day terms.
Dispute resolution process
Complaints and disputes are requested in writing (email) to either a regular contact or a generic email address such as accounts.payable@ourmedia.co.uk. Unresolved disputes are escalated to line/department managers, group managers and Directors.
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