PARK GARAGE GROUP PLC
Company number: 03497029
Reporting period:
1 July 2024 to 31 December 2024
Report filed on:
27 January 2025
Approved by:
Sunil Tandon
Payment statistics
Average time taken to pay invoices: 29 days
Invoices paid:
- within 30 days: 56%
- in 31 to 60 days: 44%
- in 61 days or more: 0%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 0%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
45 days
Standard payment terms
Payment terms are agreed with individual suppliers. Mainly 30-day terms are agreed except the smaller 'one man' suppliers where they could be 7-days. Major fuel suppliers have their own terms, the longest being 45 days which are collected by them via DD.
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
45 days
Major fuel supplier agreed 45 day terms.
Any other information about payment terms
no
Dispute resolution process
Any disputes are taken up with suppliers upon receipt of their invoice. These are very few and far between given a PO system is used so works / jobs are cross referenced to invoices received. Suppliers are contacted immediately should discrepancies be identified and are resolved in a timely manner.
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