GOV.UK
HARDING BROTHERS RETAIL LIMITED
Company number: 06126331
Reporting period:
1 July 2018
to 31 December 2018
This report was filed on 15 January 2019
and approved by James Prescott
Payment statistics
Average time taken to pay invoices: 53 days
Invoices paid:
- within 30 days: 18%
- in 31 to 60 days: 33%
- in 61 days or more: 49%
Invoices due but not paid within agreed terms: 96 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
90 days
Standard payment terms
We usually work with 60 days credit for most stock suppliers but have one key supplier for a large proportion of our purchases on 90 days standard payment terms. We make weekly payment runs to settle all invoices with due dates within that week. 75% of our stock suppliers are outside Great Britain.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Any other information about payment terms
N/A
Dispute resolution process
Our Purchase Ledger team will usually identify the invoice dispute first, at which point they determine if there is a quantity and / or item price dispute. They will contact the Goods Receiving team for quantity disputes, and the Buying team for item price disputes. Either of those departments work with the supplier to resolve the dispute as quickly as possible, at which point the invoice is approved for payment or noted for awaiting a credit note adjustment.
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