| 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 2018 - 31 Dec 2018 | 31 Jan 2019 | 63 | 16% | 37% | 47% | 24% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 61 | 18% | 36% | 46% | 14% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The price stated in the Order is inclusive of all costs and expenses including packing and transportation costs. No variation in the price of the Goods will be accepted for any reason whatsoever unless reasonable notice thereof has been given in writing by the Seller the Purchaser and an authorised officer of the Purchaser shall have accepted the price variation in writing. Where the Goods are subject to Value Added Tax or any other taxes the amount legally demandable is to be rendered as a separate item of account and if required by the Purchaser, the Seller shall produce bona fide evidence of the amount paid or to be paid by it in respect thereof. The Purchaser reserves the right to deduct from any monies due or becoming due to the Seller, any monies due from the Seller to the Purchaser under the Contract or any other contract relating to the supply of goods or services. The price of the Goods includes the cost of insurance, packaging and carriage of the Goods unless otherwise expressly indicated in the Order. Any discount period will be calculated from the date the invoice is received by the Purchaser. Payment for Goods accepted by the Purchaser shall be made at the end of the month following the month of invoice.
Were there any changes to the standard payment terms in the reporting period?
During the reporting period, the finance systems were integrated with those used by Reach plc, and the standard supplier payment terms for Reach plc were adopted at this time. As a result, the standard payment terms changed from ‘2 months from the end of the month following the month of invoice’ to ‘1 month from the end of the month following the month of invoice’.
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
60
For contracts with suppliers, the appropriate business manager (and if appropriate senior manager) for each party will attempt to resolve the dispute (the Reach point of contact varies from contract to contract). Suppliers can also contact Reach’s dedicated accounts payable team (suppliers@reachplc.com). Such contacts would look to deal promptly with any disputes raised, in accordance with the terms of the contract, and involve other Reach managers as required.
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
Reach Magazines Publishing PLC is a magazine publisher, owner of the Reach Magazines Group whose title includes OK! Magazine. According to ABC circulation data, the group's average circulation across print and digital editions stands at over 53,000 copies per issue, comprising paid single copies and subscriptions. The company was previously part of the Northern & Shell Titles Group before transferring ownership. Registered as a public limited company since 1982, its core activity is the publication of consumer lifestyle periodicals, distributed as weekly print and digital editions across the UK and Republic of Ireland.
Generated from the company's website and Companies House records. Sources: abc.org.uk