S.D. TAYLOR LIMITED
Company number: 00550055
Reporting period:
1 January 2020 to 30 June 2020
Report filed on:
31 July 2020
Approved by:
David Thompson
Payment statistics
Average time taken to pay invoices: 13 days
Invoices paid:
- within 30 days: 95%
- in 31 to 60 days: 4%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 31%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Payment terms are net 30 days unless otherwise agreed between Loans At Home and the seller. The % of invoices not paid within agreed terms (31%) is in reality a much lower number due to supplier payment terms lowered in the system to ensure that they are paid promptly.
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
30 days
The majority of our suppliers are either on net 30 days or lower.
Any other information about payment terms
The percentage of invoices not paid within agreed terms (31%) is higher than it actually is in reality as we lower the payment terms in our accounting system for some of our suppliers in order to pay them relatively quickly.
Dispute resolution process
The main point of contact for disputes is Loans At Home's Accounts Payable department in Leeds. When an invoice is disputed, the supplier will be contacted indicating the invoice number and reason for rejection. To resolve a dispute, the supplier is required to provide any missing information or a corrected invoice. The email address for supplier queries is invoices@loansathome.co.uk
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