GLYNDEBOURNE PRODUCTIONS LIMITED

Company number: 00358266

Reporting period:
1 July 2018 to 31 December 2018

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This report was filed on 30 January 2019

and approved by Sarah Hopwood

Payment statistics

Average time taken to pay invoices: 23 days

Invoices paid:

• within 30 days: 95%
• in 31 to 60 days: 3%
• in 61 days or more: 2%

Invoices due but not paid within agreed terms: 11%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

Answer not provided

Standard payment terms

Our terms are 30 days. We may pay earlier at our discretion.

Were there any changes to the standard payment terms in the reporting period?

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

30 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

All invoices are registered to the accounting system in the Finance Office. Invoice queries are made by the relevant department directly with the supplier. Disputed invoices are resolved as soon as possible with the supplier. Finance keep a record of all unauthorised invoices and these are regularly reported to the authorised signatory in the originating department. Unresolved disputes are escalated to the head of Finance and Finance Manager and legal advice is sought where appropriate to enable conclusion to the matter.

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, 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