S.K. CHILLED FOODS LIMITED
Company number: 02052519
Reporting period:
31 March 2019 to 28 September 2019
Report filed on:
22 October 2019
Approved by:
Derek Hodgson
Payment statistics
Average time taken to pay invoices: 40 days
Invoices paid:
- within 30 days: 35%
- in 31 to 60 days: 53%
- in 61 days or more: 12%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 72%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
77 days
Standard payment terms
Our standard payment terms are 60 days plus payment clearing
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
77 days
No further comment provided
Any other information about payment terms
Staged payments occur for capital - fixed asset - payments which did occur during this period. We have a significant number of small value suppliers where we have agreed 60 days terms, however their invoices still show their standard terms of 30 days. this is significantly skewing our invoices paid out of terms %. We commonly pay small value invoices early.
Dispute resolution process
The initial dispute will be resolved between our buyer and the supplier. If no resolution then that will be escalated to the buyer's manager and the supplier and subsequently a director and the supplier if necessary. Legal action is considered if no other alternative.
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