ALTERNATIVE FUTURES GROUP LIMITED
Company number: 02679915
Reporting period:
1 October 2023 to 31 March 2024
Report filed on:
29 April 2024
Approved by:
Peter Fieldsend
Payment statistics
Average time taken to pay invoices: 38 days
Invoices paid:
- within 30 days: 80%
- in 31 to 60 days: 10%
- in 61 days or more: 10%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 20%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Payment of invoices 30days from date of invoice
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
30 days
n/a
Any other information about payment terms
n/a
Dispute resolution process
Invoices are registered on the Purchase Ledger as unauthorised to be paid until either matched to a Purchase Order or approved by the relevant delegated authority. Supplier statements are reconciled monthly to identify any invoices that may not have been registered on the purchase ledger. Unauthorised invoices are reviewed regularly and the relevant delegate is informed. Suppliers routinely contact purchase ledger about unpaid invoices and queries are direct to the relevant delegate.
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 Fair 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