BROOKSON LIMITED

Company number: 03128631

Reporting period:
1 October 2020 to 31 March 2021

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This report was filed on 23 January 2023

and approved by Matthew Fryer

Payment statistics

Average time taken to pay invoices: 32 days

Invoices paid:

• within 30 days: 56%
• in 31 to 60 days: 38%
• in 61 days or more: 6%

Invoices due but not paid within agreed terms: 83%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

60 days

Standard payment terms

Standard

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

We process a weekly payment run on a Wednesday to clear by BACS on the Friday, that captures all invoices due to the following Sunday. Given this timing period, some invoices may be paid outside of the payment terms by 1-7 days dependent on due dates when the payment run is compiled.

Dispute resolution process

Escalated to relevant department head who procured

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