WORKING ON WELLBEING LTD
Company number: 08544676
Reporting period:
1 January 2021 to 30 June 2021
Report filed on:
29 July 2021
Approved by:
Jonathan Thomas
Payment statistics
Average time taken to pay invoices: 29 days
Invoices paid:
- within 30 days: 72%
- in 31 to 60 days: 23%
- in 61 days or more: 5%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 29%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Our standard terms and conditions are 30 days from date of invoice. Terms and conditions can be accessed via a link provided on Purchase Order’s. We do have some contractual agreements with suppliers where terms are longer or shorter.
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
Suppliers paid by direct debit are excluded from the statistical data.
Any other information about payment terms
Supplier payment runs are processed weekly. Inclusion criteria previously set resulted in some suppliers being paid a few days early and some potentially paid a few days after due date. Inclusion criteria has now been extended to capture invoice payment past due date to ensure capture of invoice and payment processed by or before due date.
Dispute resolution process
We encourage the person who placed the order to notify the supplier of any dispute within 7 days from receipt of invoice and take the required action to resolve the query. This is supported by our Disputed Supplier Invoice Resolution Policy available to all staff. We regularly report and monitor data on supplier payments within the business.
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: 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