| 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 Jul 2022 - 31 Dec 2022 | 22 Feb 2023 | 26 | 58% | 39% | 3% | 21% |
| 01 Jan 2022 - 30 Jun 2022 | 08 Nov 2022 | 29 | 52% | 46% | 2% | 19% |
| 01 Jul 2021 - 31 Dec 2021 | 20 Jan 2022 | 29 | 52% | 47% | 1% | 17% |
| 01 Jan 2021 - 30 Jun 2021 | 20 Jul 2021 | 30 | 49% | 49% | 2% | 19% |
| 01 Jul 2020 - 31 Dec 2020 | 28 Jan 2021 | 31 | 52% | 43% | 5% | 21% |
| 01 Jan 2020 - 30 Jun 2020 | 17 Sept 2020 | 31 | 58% | 28% | 14% | 28% |
| 01 Jul 2019 - 31 Dec 2019 | 05 Feb 2020 | 27 | 61% | 34% | 5% | 30% |
| 01 Jan 2019 - 30 Jun 2019 | 25 Jul 2019 | 28 | 65% | 29% | 6% | 32% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 31 | 52% | 42% | 6% | 23% |
| 01 Jan 2018 - 30 Jun 2018 | 18 Jul 2018 | 26 | 61% | 36% | 3% | 16% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Most Frequent is Net Monthly. This is the end of the month of invoice for general suppliers. For vehicle supplies this ranges from same day payment as invoice date or up to 180 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
No additional information
Maximum contractual payment period agreed
180
Reconciliation of supplier payments to our recorded invoices on our DMS system. If any invoice is in dispute this is raised with the supplier by email or telephone conversation. Once resolved, payment is made. If not resolved the dispute/complaint is passed to the manager who ordered the goods/services to discuss agreed contract. Once resolved, payment is made. If not resolved this is escalated to a Director.
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Renrod Limited trades as The Platinum Motor Group, a family run motor dealership group based in Trowbridge, Wiltshire, operating across Wiltshire, Somerset, Dorset and Gloucestershire. It holds multiple manufacturer franchises, including Renault, Dacia, Nissan, Skoda, Hyundai, Toyota, Vauxhall, Citroen, KGM, Suzuki, OMODA and JAECOO, selling new and used vehicles across a network of dealerships. Alongside vehicle sales, it provides servicing, MOTs, vehicle health checks and genuine manufacturer parts through workshops at its sites. The company is also authorised and regulated by the Financial Conduct Authority as a credit broker, introducing customers to lenders for vehicle finance, and acts as an insurance intermediary. It was founded in 1975 and remains an active registered company.
Generated from the company's website and Companies House records. Sources: platinummotorgroup.co.uk · platinummotorgroup.co.uk