ATLANTIC FOODS LIMITED

Company number: 05335933

Reporting period:
1 July 2018 to 31 December 2018

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This report was filed on 8 March 2019

and approved by William Coulten

Payment statistics

Average time taken to pay invoices: 32 days

Invoices paid:

• within 30 days: 14%
• in 31 to 60 days: 83%
• in 61 days or more: 3%

Invoices due but not paid within agreed terms: 0%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

Answer not provided

Standard payment terms

45 days from receipt of invoice

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

Changed standard terms from 30 to 45 days, effective on invoices receipt after 29th october

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

Letters sent to all vendors 4 weeks prior to the change and engaged any vendors proactively who raised any queries with the proposed change.

Maximum contractual payment period agreed

60 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

No change from prior reporting period. Contact advice is issued with all remittance so vendors are able to engage with us easily & on a timely basis as needed.

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