GOV.UK
BRIGHTSTAR 20:20 UK LIMITED
Company number: 08401611
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 17 January 2019
and approved by Andy Hancock
Payment statistics
Average time taken to pay invoices: 8 days
Invoices paid:
- within 30 days: 91%
- in 31 to 60 days: 6%
- in 61 days or more: 3%
Invoices due but not paid within agreed terms: 14 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
90 days
Standard payment terms
60 days from invoice date
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
The statistics reported are affected by a number of factors. The business typically submits a bacs run once a week, invoices are usually paid in batches by supplier and are paid on the closest bacs run to the due date of the latest invoices in the batch. Invoices may become due at a week end or on a bank holiday and be paid on the next available working day but will show on the report as paid late. We have payment terms including "end of following month" from invoice date. This means it is difficult to put these invoices into a grouping as the actual number of days will vary depending on the date of the invoice. Payments paid within 7 days of agreed terms the percentage of invoices due but not paid within the agreed terms falls to 4%
Dispute resolution process
Our Accounts Payable team and other relevant departments work with suppliers directly to resolve any issues. Once disputes are resolved invoices will be paid as per their payment terms or on the next available bacs run if the due date has already passed. If we request credit notes from a supplier we may withhold payment of the connected invoices until the credit is received. The business aims to resolve disputes 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 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