IDVERDE LIMITED
Company number: 03542918
Reporting period:
1 January 2025 to 30 June 2025
Report filed on:
31 July 2025
Approved by:
A M Pollins
Payment statistics
Average time taken to pay invoices: 68 days
Total value paid:
- within 30 days: £19,529,101 (37%)
- in 31 to 60 days: £18,877,967 (36%)
- in 61 days or more: £14,526,333 (27%)
Invoices paid:
- within 30 days: 11%
- in 31 to 60 days: 41%
- in 61 days or more: 48%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £40,095,179
- payments due in the reporting period which have not been paid within the agreed period: 77%
- not made in the reporting period due to a dispute: 22%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
90 days
Standard payment terms
Standard payment terms are 60 days from end of month following invoice received date. Invoices will only be processed if quoting the authorised purchase order reference.
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
90 days
90 days. The majority of suppliers agree to standard payment terms of 60 days from the end of the month. However, the business has some arrangements with smaller suppliers who require shorter payment terms and have been accommodated (for example, sole traders with 14 day terms which is non-standard). Some suppliers will also accept terms of 90 days end of month.
Any other information about payment terms
No further comment provided
Dispute resolution process
The main point of contact for purchase ledger queries and disputed invoices is the central Accounts Payable team based at the Coventry registered office. When an invoice is queried by idverde, the supplier is notified via email or telephone. The supplier is required to provide additional / missing information or correct the invoice detail. It must be noted that idverde operates a strict PO process and all invoices are required to quote an authorised PO number. The PO number is quoted by idverde at the point of order by the idverde operational teams or via idverde's central office team in Coventry.
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