ASPIRE DEFENCE SERVICES LIMITED

Company number: 04556471

Reporting period:
1 July 2021 to 31 December 2021

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This report was filed on 17 January 2022

and approved by Nigel Marsh

Payment statistics

Average time taken to pay invoices: 7 days

Invoices paid:

• within 30 days: 97%
• in 31 to 60 days: 2%
• in 61 days or more: 1%

Invoices due but not paid within agreed terms: 0%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

30 days

Standard payment terms

Most of the supply chain for ADSL are on 30 days from date of invoice. Some of the smaller companies have 0,7 or 14 day payment terms and a handful have longer payment terms of 90 days.

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

90 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

All invoices are input into the accounting system upon receipt. If there is a query with the invoice the issue is raised in a timely manner direct with the supplier and the invoice is held for payment until the query has been resolved. Once the query has been resolved the invoice is then released for payment.

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