| 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 Sept 2023 - 29 Feb 2024 | 27 Aug 2024 | 47 | 34% | 46% | 20% | 31% |
| 01 Mar 2023 - 31 Aug 2023 | 27 Aug 2024 | 51 | 41% | 42% | 17% | 56% |
| 01 Sept 2022 - 28 Feb 2023 | 20 Jun 2023 | 24 | 79% | 19% | 2% | 42% |
| 01 Mar 2022 - 31 Aug 2022 | 14 Feb 2023 | 23 | 86% | 12% | 2% | 42% |
| 01 Sept 2021 - 28 Feb 2022 | 01 Apr 2022 | 20 | 86% | 13% | 1% | 41% |
| 01 Mar 2021 - 31 Aug 2021 | 30 Sept 2021 | 21 | 85% | 14% | 1% | 45% |
| 01 Sept 2020 - 28 Feb 2021 | 31 Mar 2021 | 20 | 95% | 5% | 0% | 45% |
| 01 Mar 2020 - 31 Aug 2020 | 30 Sept 2020 | 20 | 86% | 14% | 0% | 53% |
| 01 Sept 2019 - 29 Feb 2020 | 31 Mar 2020 | 21 | 82% | 16% | 2% | 66% |
| 01 Mar 2019 - 31 Aug 2019 | 30 Sept 2019 | 24 | 82% | 16% | 2% | 55% |
| 01 Sept 2018 - 28 Feb 2019 | 01 Apr 2019 | 24 | 82% | 16% | 2% | 55% |
| 01 Sept 2017 - 28 Feb 2018 | 06 Apr 2018 | 50 | 29% | 44% | 27% | 71% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Payment by BACS transfer for the goods/service unless otherwise agreed and detailed in the PO shall be 60 days from invoice date.
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
90
Suppliers are able to contact the business regarding complaint or concern on the following email address. gbr.accountspayable@ferrero.com where a team of experts will direct the query to the relevant department. The complaint or concern will be considered by that department. The length of time taken to resolve the complaint or concern is dictated by its nature. If a resolution cannot be agreed upon, the business will use and escalation process both within the business and with the supplier until a resolution by both parties can be found. Ferrero also offer the supplier access to their portal to enable them to have the ability to follow the progress of an invoie right through to payment
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
Ferrero UK Limited is a subsidiary of the global confectionery company, Ferrero Group. The company is headquartered in Luxembourg and has a registered office in Greenford, London. It has been operating in the UK since 1966 and is responsible for the production and distribution of popular brands such as Ferrero Rocher, Nutella, and Kinder.
The company is committed to sustainability and has implemented various initiatives to reduce its environmental impact. This includes using sustainable sourcing for its raw materials, reducing packaging waste, and implementing sustainable practices in its factories. Ferrero UK Limited also supports local communities through its "Ferrero for Good" program, which focuses on education, health, and environmental projects.
In terms of products and services, Ferrero UK Limited offers a wide range of chocolates, spreads, and confectionery products. Its most famous product, Ferrero Rocher, is made with high-quality ingredients and is a popular choice for special occasions. Nutella, the company's iconic hazelnut spread, is loved by people of all ages and is a staple in many households. Kinder, another popular brand, offers a variety of products for children, including the famous Kinder Surprise eggs.
The key people behind Ferrero UK Limited include its Managing Director, Francesco Paolo Fulci, and its Marketing Director, Neil McIntosh. They are both highly experienced and play a crucial role in the company's success.
For more information on Ferrero UK Limited and its products, you can visit their website at www.ferrero.co.uk. Their registered office is located at 889 Greenford Road, Greenford, Middlesex UB6 0HE.
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