JACK RICHARDS & SON LIMITED
Company number: 01041518
Reporting period:
1 July 2024 to
29 December 2024
This report was filed on 23 January 2025
and approved by Mark White
Payment statistics
Average time taken to pay invoices: 51 days
Invoices paid:
- within 30 days: 9%
- in 31 to 60 days: 63%
- in 61 days or more: 28%
Invoices due but not paid within agreed terms: 68%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
120 days
Standard payment terms
The payment will be made on the Friday closest to the specified payment terms.
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
120 days
We tend to pay our suppliers in line with how customers pay us. In this instance our customer pays us on 120 days terms and therefore the subcontractor terms mirror this.
Any other information about payment terms
N/A
Dispute resolution process
The supplier will be contacted by email or phone to inform them of the dispute. If the dispute is not resolved then the query will be passed onto the necessary department in order to come to a solution.
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.
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