| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Dec 2021 - 28 Feb 2022 | 31 Mar 2022 | 38 | 47% | 43% | 10% | 15% |
| 01 Jun 2021 - 30 Nov 2021 | 16 Dec 2021 | 37 | 49% | 43% | 8% | 13% |
| 01 Dec 2020 - 31 May 2021 | 30 Jun 2021 | 37 | 48% | 45% | 7% | 14% |
| 01 Jun 2020 - 30 Nov 2020 | 23 Dec 2020 | 37 | 43% | 50% | 7% | 11% |
| 01 Dec 2019 - 31 May 2020 | 26 Jun 2020 | 40 | 38% | 51% | 11% | 12% |
| 01 Jun 2019 - 30 Nov 2019 | 30 Dec 2019 | 41 | 36% | 53% | 11% | 15% |
| 01 Nov 2018 - 31 May 2019 | 27 Jun 2019 | 46 | 30% | 51% | 19% | 25% |
| 01 Jun 2018 - 31 Oct 2018 | 20 Dec 2018 | 42 | 37% | 49% | 14% | 24% |
| 01 Dec 2017 - 31 May 2018 | 21 Jun 2018 | 46 | 28% | 61% | 11% | 26% |
| 01 Jun 2017 - 30 Nov 2017 | 24 Dec 2017 | 36 | 44% | 44% | 12% | 23% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
45 DAYS FROM DATE OF INVOICE
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
N/A
Maximum contractual payment period agreed
60
Invoices are received and are entered by the Purchase Ledger team on the Business Management System. Invoice variances (i.e. those not matching to a receipted purchase order) are sent to the buyer for approval on an internal intranet site. The buyer reviews the variance and if in agreement approves the variance and this goes to the necessary higher authority for further approval. On full approval the invoice is then paid within 7 days. If disputed the buyer requests proof of delivery and/or price confirmation. If no evidence is provided a credit note is requested by the buyer before the invoice is paid (net of the credit).
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.
❌
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.
❌
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.
❌
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
FREEMANS OF NEWENT LIMITED is a British company that specializes in the production and sale of high-quality meat products. They have been in operation since 1919 and are a family-owned business based in Newent, Gloucestershire.
The company is committed to sustainability and has implemented various initiatives to reduce their environmental impact. They have installed solar panels on their premises, use recyclable packaging materials, and have implemented energy-efficient practices in their production processes.
FREEMANS OF NEWENT LIMITED offers a wide range of meat products, including bacon, sausage, ham, and poultry. They pride themselves on using locally sourced ingredients and traditional methods of production to ensure the highest quality products for their customers.
The key people in the company include the managing director, Ian Freeman, and the sales director, Mark Freeman. They work closely with a team of skilled butchers and employees to ensure the success of the business.
For more information on their products and sustainability practices, customers can visit their website at www.freemansofnewent.com. The registered office address for the company is Freeman House, 14A Foley Trading Estate, Newent, Gloucestershire, GL18 1QH. Overall, FREEMANS OF NEWENT LIMITED is a well-established and sustainable company that prides itself on providing top-quality meat products to their customers.
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