K.T.C. (EDIBLES) LIMITED
Company number: 01433723
Reporting period:
1 January 2025 to 30 June 2025
Report filed on:
25 July 2025
Approved by:
Mark Ward
Payment statistics
Average time taken to pay invoices: 46 days
Total value paid:
- within 30 days: £16,238,730 (7%)
- in 31 to 60 days: £182,496,288 (82%)
- in 61 days or more: £23,903,719 (11%)
Invoices paid:
- within 30 days: 12%
- in 31 to 60 days: 70%
- in 61 days or more: 18%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £175,589,144
- payments due in the reporting period which have not been paid within the agreed period: 79%
- not made in the reporting period due to a dispute: 5%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
63 days
Standard payment terms
Standard Payment Terms are 60 days from date of invoice with most payments made on a weekly basis. Other payment terms are negotiated with suppliers
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
63 days
No further comment provided
Any other information about payment terms
As a business we will always try and pay to our agreed supplier terms. For the vast majority of our suppliers, we only do a payment run once a week which invariably will result in most of our payments appearing late, even if only by a few days. We estimate that if you take our weekly payment practice into account % late reduces to below 15%.
Dispute resolution process
If a supplier raises a query in respect of an outstanding invoice, in the first instance it is handled by the Accounts Payable team. If necessary, the Accounts Payable team will refer to other business areas within the company to resolve the enquiry in a timely manner. If the matter remains unresolved, it may be escalated to senior leadership. Pursuing an adjudicative process such as litigation or arbitration, in which a court determines the outcome, is seen as a last resort.
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