BELFIELD FURNISHINGS LIMITED
Company number: 04416650
Reporting period:
1 January 2022 to
30 June 2022
!
This information is as reported by the business, and responses are in their own words.
This report was filed on 21 July 2022
and approved by John David Meltham
Payment statistics
Average time taken to pay invoices:
56 days
Invoices paid:
- within 30 days: 14%
- in 31 to 60 days: 47%
- in 61 days or more: 39%
Invoices due but not paid within agreed terms:
60%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Payment terms are agreed with key suppliers individually and may vary depending on the nature of the goods or services being provided. Standard payment terms are typically 30-60 from date of invoice, 30 days end of month or nett monthly.
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
N/A
Dispute resolution process
Where disputes arise, these are referred to the purchasing department who will investigate and liaise with suppliers to reach a resolution.
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