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BANNATYNE FITNESS LIMITED

Company number: 03287770

Reporting period:
1 January 2021 to 30 June 2021


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

This report was filed on 30 July 2021

and approved by ken campling

Payment statistics

Average time taken to pay invoices: 49 days

Invoices paid:

  • within 30 days: 23%
  • in 31 to 60 days: 43%
  • in 61 days or more: 34%

Invoices due but not paid within agreed terms: 20%

Payment terms

Shortest standard payment periods

60 days

Longest standard payment period

Answer not provided

Standard payment terms

60 days from month end of invoice

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

60 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Bannatyne Fitness Ltd dispute resolution process for suppliers Contact routes for resolution : Procurement/ purchase order queries Supplier invoice queries - purchaseledger@bannatyne.co.uk Phone 01325 356677 All invoices and statements should be sent to the email above. Invoices cannot be processed or paid without a valid Bannatyne purchase order number for us to match to. Please do not supply goods without one. We will contact you to return any invoices without a purchase order. If any invoice is disputed or a credit note is required we will contact you by email within 3 weeks of receipt. We will reconcile the statement you send at the end of the month and contact you to let you know if we are missing invoices. We will pay invoice by Bacs after each month end and you will be emailed a remittance advice. Our standard terms are 60 days from end of month.

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.

Yes

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