Ranked in 2 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
| 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 Jan 2023 - 31 Jul 2023 | 27 Nov 2023 | 49 | 49% | 27% | 24% | 44% |
| 01 Jul 2022 - 31 Dec 2022 | 27 Nov 2023 | 58 | 49% | 27% | 24% | 24% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 54 | 33% | 54% | 13% | 32% |
| 01 Jan 2018 - 30 Jun 2018 | 31 Jul 2018 | 58 | 16% | 65% | 19% | 46% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Our Standard Payment terms for customers are 30 days unless other terms are agreed with customer. We have 60 day terms for all our stock purchase invoices . For Freight invoices we have terms for end of month following when the invoice has been raised.
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
60
When the invoice is received by the accounts department if there is a purchase order present on the invoice the invoice will be matched, if the invoice doesn't match this will then be sent to the relevant department to check the pricing, if it is an error on our side then the invoice will be processed, if it is an error on the suppliers side then this will be flagged as a dispute, depending on the dispute this can take 7-14 days for a resolution. The relevant department will then notify the accounts department when the query has been resolved and the invoice will either be processed for payment or a credit note raised. For invoices that do not have a purchase order these would be sent out to the relevant departments for signature. If the department signs the invoice then it will be processed for payment, if they are disputing the invoice this will then be logged with the supplier and once the query is resolved the invoice will be processed for payment or a credit note will be raised. The signature reports are sent out weekly to the departments so accounts know when queries have been resolved.
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
New Balance Athletic Shoes (U.K.) Limited is the UK entity of the New Balance footwear and apparel business, incorporated in 1982 and registered in Warrington, Cheshire. Companies House records its nature of business as the manufacture of footwear and the retail sale of footwear in specialised stores. The company's own website describes itself as the official New Balance site for shoes and apparel. Historic charge filings show past financing arrangements including debentures and mortgages secured against company property and assets, most now satisfied, alongside one outstanding chattels mortgage. The company was originally incorporated under a different name before adopting its current one shortly after registration.
Generated from the company's website and Companies House records. Sources: newbalance.co.uk · find-and-update.company-information.service.gov.uk · find-and-update.company-information.service.gov.uk