MINDFUL CHEF LTD
Company number: 09270945
Reporting period:
1 July 2024 to 31 December 2024
Report filed on:
27 January 2025
Approved by:
Kate McNuff
Payment statistics
Average time taken to pay invoices: 27 days
Invoices paid:
- within 30 days: 83%
- in 31 to 60 days: 17%
- in 61 days or more: 0%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 13%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
60 days
Standard payment terms
We do not have our standard terms on our website as our website is for our customers (we are a D2C business) and our supplier terms are with our commercial partners so it would not be appropriate to have them on our website. I attach a link to our standard terms at the bottom of this email. These are confidential to the business and I would not want them to be published on any public facing website.
Were there any changes to the standard payment terms in the reporting period?
Our standard terms are sent to our suppliers as part of our tender process and supplier onboarding process. From time to time, some suppliers seek to negoicate certain terms and we will agree to some amendment of our standard terms depending on the supplier and our bargainaing position. All suppliers will be aware of any changes as they will have signed any revised version of our standard terms.
Were suppliers notified or consulted about these changes before they were made?
As above
Maximum contractual payment period agreed
90 days
The occassional supplier has asked for 60 days payment terms and we have one supplier on 90 days.
Any other information about payment terms
No further comment provided
Dispute resolution process
Initially our commercial team will try to resolve any payment dispsutes with suppliers and if necessary will escalate to the legal team.
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