Company number: 01424575
and approved by Charlotte Durman
Average time taken to pay invoices: 63 days
Invoices paid:
Invoices due but not paid within agreed terms: 87%
0 days
60 days
It is the Company policy to agree appropriate terms of payment with each supplier. Payment runs for each currency occur on a weekly basis. 71% of our suppliers invoices during the period are on payment terms of 30 days, 18% of terms are lower than 30 days and apply mainly to contractor payments. Intercompany invoices are applied on 60 day terms but settled on an informal ad hoc basis through an internal netting agreement, usually exceeding the agreed payment terms
Answer not provided
N/A
60 days
NA
84% of invoices due in the period were not paid within the contractual terms. Of this amount, 19% of invoices relate to one supplier where there was a dispute over incorrect invoicing values. Credits were received and payment was settled. 12% related to intercompany invoices. Most invoices paid beyond the due date were on 30 day terms or less.
The Company is committed to dealing with its suppliers in a fair, honest and professional manner. We seek to resolve queries as quickly as possible to both party’s satisfaction prior to payment being made. Disputes are resolved by discussion and agreement with a supplier and are typically managed by the dedicated accounts payable team.
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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No