BOOHOO.COM UK LIMITED

Company number: 05723154

Reporting period:
1 September 2022 to 28 February 2023

This information is as reported by the business, and responses are in their own words.

This report was filed on 24 March 2023

and approved by Shaun McCabe

Payment statistics

Average time taken to pay invoices: 47 days

Invoices paid:

within 30 days: 29%
in 31 to 60 days: 52%
in 61 days or more: 19%

Invoices due but not paid within agreed terms: 71%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

75 days

Standard payment terms

Terms are agreed with suppliers and vary from 30 days to 75 days. A number of our overseas inventory suppliers are paid in advance of delivery.

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

Payment terms extended from between 14 - 60 days to between 30 - 75 days.

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

All suppliers were contacted by email in advance of the changes being made.

Maximum contractual payment period agreed

75 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Personnel in the accounts payable team are allocated a number of suppliers to manage and the account handler deals with disputes in the first instance. If the dispute cannot be easily resolved, the matter is passed to the team supervisors and, if necessary, escalated to the Group Finance Manager or the CFO.

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.

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.

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?