BURLINGTOWN UK LIMITED
Company number: 06424232
Reporting period:
1 July 2019 to 31 December 2019
Report filed on:
29 January 2020
Approved by:
Graziela Cutrale
Payment statistics
Average time taken to pay invoices: 9 days
Invoices paid:
- within 30 days: 99%
- in 31 to 60 days: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 1%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
The company’s policy is that invoices received and approved before 11th of each month are paid on or around 15th of the month. Suppliers are informed of this policy and are encouraged, as far as they can, to align their invoicing procedures to ensure payment can be made within the shortest period. In addition, direct debit arrangements are put in place for many regular suppliers (e.g. utilities).
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
35 days
Where a supplier does not provide an invoice by 11th of the month it may only be paid by 15th of the following month, so the maximum payment period is 35 days (for a 31 day month).
Any other information about payment terms
N/A
Dispute resolution process
The company has a small staff and the number of payments is not significant. Disputes with suppliers are rare occurrences and are managed by the office manager (for London office invoices), the trading manager (for Bristol terminal and trading invoices) or the CFO (for financial and legal matters).
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