POUNDSTRETCHER LIMITED
Company number: 00553014
Reporting period:
1 October 2019 to
4 April 2020
This report was filed on 14 May 2020
and approved by Hemant Patel
Payment statistics
Average time taken to pay invoices: 69 days
Invoices paid:
- within 30 days: 9%
- in 31 to 60 days: 33%
- in 61 days or more: 57%
Invoices due but not paid within agreed terms: 96%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
90 days
Standard payment terms
Standard terms for Expense Payments is 30 days. Standard terms for Merchandise Payments is per agreement between buyer and individual supplier (ranging from immediate to 90 days).
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
90 days
No further comment provided
Any other information about payment terms
A vast number of queries will be a contributing factor to late payment. Bacs runs are completed twice a week in general for each ledger. This means that a large number of invoices paid one or two days after due date and also weekend depending.
Dispute resolution process
Any complaint or concern regarding a payment will be investigated by our Purchase Ledger Department and/or Treasury Department ASAP on receipt of enquiry. Resolution will be either payment or credit note issued
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