GOVIA THAMESLINK RAILWAY LIMITED
Company number: 07934306
Reporting period:
31 December 2017 to 30 June 2018
Report filed on:
23 July 2018
Approved by:
Patrick Butcher
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 62%
- in 31 to 60 days: 32%
- in 61 days or more: 6%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 14%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
Govia Thameslink Railway Limited, a subsidiary company of The Go-Ahead Group, an approved signatory of "The Prompt Payment Code", follows group policy and agrees appropriate terms of payment with suppliers for each transaction or series of transactions, and abides by those terms once suppliers present a valid invoice. The company normally settles trade payables at the end of the month following the month in which the invoice is presented and these invoices are paid in the week following their due date, however variations to these terms exist based on agreements with certain suppliers.
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
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Govia Thameslink Railway Limited is committed to paying suppliers in an honest, prompt and professional manner while seeking best value for the business. We endeavour to resolve any invoice queries as quickly as possible, and communication between the Accounts Payable team and the relevant supplier is instigated to resolve the matter. In the event that a dispute cannot be resolved by our accounts team, it would be escalated to the Financial Controller who will investigate and mitigate the issue.
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.
Yes, this business has signed up to: The Prompt Payment Code
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