SEDDON HOMES LIMITED
Company number: 03045309
Reporting period:
1 January 2023 to 30 June 2023
Report filed on:
17 August 2023
Approved by:
Stuart McLaughlin
Payment statistics
Average time taken to pay invoices: 39 days
Invoices paid:
- within 30 days: 31%
- in 31 to 60 days: 64%
- in 61 days or more: 5%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 5%
Payment terms
Shortest standard payment periods
35 days
Longest standard payment period
72 days
Standard payment terms
For purchase ledger invoices payment is due end of month following month of invoice plus 12 days. Sub-contractor payments 35 days from valuation date
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
72 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
For purchase ledger invoices any queries for either incorrect delivery amount or price will be advised to customer within 15 working days of receipt of invoice requesting a credit note. Payment of invoice will be processed following receipt of credit note. For sub-contract payments, a valuation will be received by 25th of the month in which the work was done. A payment/pay less notice will be sent to the sub-contractor by 15th of the following month. A final account meeting at the end of the contract will be held to clear any unresolved disputes.
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