GOV.UK
ARCADIA GROUP LIMITED
Company number: 00237511
Reporting period:
27 August 2017
to 24 February 2018
This report was filed on 22 March 2018
and approved by Paul Budge
Payment statistics
Average time taken to pay invoices: 49 days
Invoices paid:
- within 30 days: 51%
- in 31 to 60 days: 29%
- in 61 days or more: 20%
Invoices due but not paid within agreed terms: 52 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
60 days
Standard payment terms
Goods not for resale – Invoices are paid weekly, on 30 days payment terms
Goods for resale – Invoices are paid daily, on 60 days payment terms
Settlement discount applied to all goods for resale invoices as below –
Direct Imports suppliers – 4%
Landed suppliers – 18.25%
Were there any changes to the standard payment terms in the reporting period?
Yes – An additional 2% discount was applied to all goods for resale from the 1st February 2018.
Were suppliers notified or consulted about these changes before they were made?
Yes –
Suppliers were notified 14 days in advance in writing by the Arcadia Group Limited Chief Executive Officer.
Maximum contractual payment period agreed
60 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
Queries from the Company’s suppliers are directed through a central Supplier Liaison team within Accounts Payable. The following service level agreements are in place to ensure we respond to our suppliers within an acceptable time frame:
(a) Urgent queries – 24 hours from receipt of query; and
(b) Non-urgent queries – 48 hours from receipt of query.
The initial contact points for suppliers are as follows:
(a) Goods for resale – tradeinvoices@arcadiagroup.co.uk
(b) Goods not for resale – Apinvoices.general.expenses@arcadiagroup.co.uk
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
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