FP MCCANN LIMITED

Company number: NI013563

Reporting period:
1 January 2024 to 30 June 2024

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This report was filed on 17 July 2024

and approved by Joan McCann

Payment statistics

Average time taken to pay invoices: 28 days

Invoices paid:

• within 30 days: 66%
• in 31 to 60 days: 31%
• in 61 days or more: 3%

Invoices due but not paid within agreed terms: 10%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

Answer not provided

Standard payment terms

In general terms, the payment terms adopted by FP McCann are for invoices to be settled on the next payment run following the credit terms requested by the respective supplier. These terms cover a range of periods mostly payment falling due at the end of one or two months following the invoice date. Consequently, when the invoice is approved by the appropriate delegated authority, it is allocated for payment accordingly. There have been no changes to this policy during the reporting period. Payments made direct to bank accounts via BACS or via cheque. To ensure prompt payment and reduce the risk of invoice rejections. • The invoice must be in English, addressed to FP McCann Limited and sent to the correct address: 3 Drumard Road, Magherafelt, BT45 8QA or placcounts@fpmccann.co.uk • Purchase Order numbers must be quoted clearly on the front page of the invoice • Invoices must mirror the Purchase Order (i.e. state the goods and services in a similar format – quantity, price per unit, total price per line) • Suppliers must provide us with changes to bank details or addresses for payment in reasonable time to be included in the payment.

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

120 days

N/A

Any other information about payment terms

N/A

Dispute resolution process

In the event of a dispute with another party FP McCann will engage with that party in good faith to establish the full grounds of any such dispute, with a view to reaching settlement as swiftly as possible. Initial queries are dealt with by our purchase ledger department who will then liaise with the appropriate site or department to resolve the query. If resolution is not possible in this way the dispute will be escalated to senior management.

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.

Yes, this business has signed up to: Code of Practice for Government Construction Clients and their Supply Chains

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