SOPHOS LIMITED
Company number: 02096520
Reporting period:
1 October 2022 to
31 March 2023
This report was filed on 28 April 2023
and approved by Stuart Fillingham
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 75%
- in 31 to 60 days: 13%
- in 61 days or more: 12%
Invoices due but not paid within agreed terms: 28%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
75 days
Standard payment terms
The Company's standard payment terms are invoice date plus 30 days. Significant contracts including those for stock manufacturers are subject to specific payment terms as set out and agreed in the applicable contract. Maximum contractual payment period agreed is invoice date plus 75 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
75 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
Any disputes relating to invoice payment that cannot be resolved with the Company's Accounts Payable Team can be escalated initially to the Financial Controller and thereafter if still unresolved to the the VP Finance. Any dispute that cannot be resolved with the Finance Team maybe referred to the Group's General Counsel.
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