JOHNSONS TEXTILE SERVICES LIMITED

Standard payment terms

Johnsons Textile Services Limited trades through a number of brands, each of which offers varying payment terms to its suppliers. These terms typically range from 14 days through to 60 days albeit with some exceptions including payment on receipt of invoice, with the average number of days payment terms being 42 days in this period.

Were there any changes to the standard payment terms in the reporting period?

No information available

Any other information about payment terms

As reported above under “payments due in the reporting period which have not been paid within the agreed period”, 78% of invoices were not paid within agreed terms, however, our analysis has confirmed that the majority of supplier invoices paid in the reporting period were paid within five working days of supplier terms. In many cases, this short delay is often linked to the timing of any particular weekly payment run. The accounts payable system that is used across Johnsons Textile Services Limited does not allow us to record the date a supplier invoice is physically received. Instead, we record the actual invoice date and it is that which has been used as a proxy for the date of receipt. As a consequence, any delay in us receiving an invoice from a supplier will adversely affect the statistics reported above.

Maximum contractual payment period agreed

75

Has this business signed up to a code of conduct or standards on payment practices?

For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

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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.

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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.

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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?

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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?

No information available