EAST YORKSHIRE MOTOR SERVICES LIMITED
Company number: 00216628
Reporting period:
1 July 2018 to 29 December 2018
Report filed on:
25 January 2019
Approved by:
David Brown
Payment statistics
Average time taken to pay invoices: 51 days
Invoices paid:
- within 30 days: 8%
- in 31 to 60 days: 63%
- in 61 days or more: 29%
Late and disputed:
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
60 days
Standard payment terms
East Yorkshire Motor Services, a subsidiary company of The Go-Ahead Group (since June 2018), follow Group policy and agree appropriate terms of payment with suppliers for each transaction or series of transactions, and abide by those terms once suppliers present a valid invoice. The company at present settles trade payables on 60 day terms and these invoices are paid in the week following their due date, however variations to these terms do exist based on agreements with certain suppliers. East Yorkshire Motor Services will adopt the Group's 30 day payment policy in this financial year.
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
N/A
Any other information about payment terms
N/A
Dispute resolution process
East Yorkshire Motor Services Limited is committed to paying our suppliers in an honest, prompt and professional manner while seeking best value for the business. We endeavour to resolve any invoice queries as quickly as possible, communication between the Accounts Payable team and the relevant supplier is instigated to resolve the matter. In the event that a dispute cannot be resolved by our accounts team, it would be escalated to the Company Accountant who will investigate and mitigate the issue.
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