Published reports

NEWLY WEDS FOODS LIMITED

Company number: 00374033

This information is as reported by the business, and responses are in their own words.

Reporting period:

1 July 2018 to 31 December 2018

Report filed on:

31 May 2019

Approved by:

Brian Johnson

Payment statistics

Average time taken to pay invoices: 42 days

Invoices paid:

within 30 days: 27%
in 31 to 60 days: 42%
in 61 days or more: 31%

Late and disputed:

payments due in the reporting period which have not been paid within the agreed period: 66%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

90 days

Standard payment terms

We aim to achieve standard payment terms of 60days with our suppliers

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

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

N/A

Maximum contractual payment period agreed

90 days

No further comment provided

Any other information about payment terms

No further comment provided

Dispute resolution process

Any disputes should initially be emailed to apayable@newlywedsfoods.co.uk where it will get allocated to a member of the payables team who should then respond to the supplier within 24 hours. Depending on what the dispute is about will then determine on how the dispute gets handled from there on.

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.

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.

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?