BARRETTS PROPERTY DEVELOPMENT LIMITED
Company number: 09703220
Reporting period:
1 July 2018 to
31 December 2018
This report was filed on 31 January 2019
and approved by PJ Barrett
Payment statistics
Average time taken to pay invoices: 18 days
Invoices paid:
- within 30 days: 92%
- in 61 days or more: 8%
Invoices due but not paid within agreed terms: 34%
Payment terms
Shortest standard payment periods
29 days
Longest standard payment period
30 days
Standard payment terms
a. The length of time taken to pay invoices is determined by the payment terms laid down by our suppliers. We do two payment runs per month, including all authorised and due invoices at that time. Payment is by BACS. In addition, those invoices falling under the CIS scheme are paid manually by bank transfer within the due date requested. b. Our maximum terms would be those dictated by our suppliers. c. We have not changed any standard payment terms in the period.
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
30 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
ii. We are a small business, with all departments based locally in East Kent. Communication is fluid and informal, with suppliers being able to contact the business easily. Invoice disputes are resolved in the first instance within our Construction Manager, who is very hands on and has a detailed order register. He will then request further details,
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