SHEFFIELD FORGEMASTERS ENGINEERING LIMITED
Company number: 04864216
Reporting period:
1 October 2024 to 31 March 2025
Report filed on:
10 June 2025
Approved by:
Paul Stanger
Payment statistics
Average time taken to pay invoices: 45 days
Invoices paid:
- within 30 days: 30%
- in 31 to 60 days: 42%
- in 61 days or more: 28%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 8%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
Answer not provided
Standard payment terms
The company's standard payment terms are 60 days after the end of the month in which a valid invoice is submitted but we have various contracts with suppliers where different payment have been agreed.
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
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
The business rarely has disputes relating to payments and will only withhold payment where there is legitimate legal and contractual basis to do so. Any dispute would be handled by our supply chain management and Finance departments in the first instance. Any substantive issue over the validity of an invoice would be referred to the Procurement and Legal teams for resolution.
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