Published reports

SOUTHAMPTON ISLE OF WIGHT AND SOUTH OF ENGLAND ROYAL MAIL STEAM PACKET COMPANY LIMITED

Company number: 00002404

This information is as reported by the business, and responses are in their own words.

Reporting period:

1 July 2024 to 31 December 2024

Report filed on:

30 January 2025

Approved by:

F Collins

Payment statistics

Average time taken to pay invoices: 43 days

Invoices paid:

  • within 30 days: 31%
  • in 31 to 60 days: 61%
  • in 61 days or more: 8%

Late and disputed:

  • payments due in the reporting period which have not been paid within the agreed period: 55%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

45 days

Standard payment terms

The business's main standard payment terms are "30 Days End Of Month", which has been shown above as 45 Days.

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

No further comment provided

Any other information about payment terms

No further comment provided

Dispute resolution process

We value our supplier relationships. In the event of a query, the business and finance teams work with the supplier to ensure all issues are dealt with as quickly as possible.

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