| 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 |
|---|---|---|---|---|---|---|
| 06 Oct 2018 - 30 Mar 2019 | 01 May 2019 | 34 | 64% | 15% | 21% | 63% |
| 24 Mar 2018 - 05 Oct 2018 | 05 Nov 2018 | 45 | 33% | 41% | 26% | 71% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Mini Club has set the following standard payment terms with its suppliers: a. Goods for re-sale 90 days from date of invoice; b. Goods not for resale up to 60 days from date of invoice. These terms vary based on individual agreements. Suppliers are made aware of payment run cycle: a. Goods for resale payment runs submitted twice a week; b. Goods not for resale payment run submitted weekly These impact payment within agreed terms, but suppliers are aware of these payment cycles. As a result, 33% of late payments are settled within 1 week of the due date.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
Mini Club is part of Mothercare group, average late payment across the group is 37% of which 27% is paid within 1 week after due date due to the timing of payment runs. Contractually Mini Club run a debit note process for supplier income on the Accounts Payable ledger therefore impacting timing of some invoices paid.
Maximum contractual payment period agreed
90
Invoice or payment disputes are initially reported to Accounts Payable where member of team will investigate with the account relationship holder. In the event of a dispute not being resolved, it will be escalated to the Treasury Manager and/or the Head of Group Finance and the Senior Buyer. Once resolved the supplier will be paid in accordance with payment terms or on the next available payment run.
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
MINI CLUB UK LIMITED is a British company that specializes in providing sustainable and eco-friendly products for children. The company was founded in 2002 and is currently based in London.
The main focus of MINI CLUB UK LIMITED is to promote sustainability and environmental consciousness through their products and services. They offer a wide range of clothing, toys, and accessories for children, all made from sustainable and organic materials. Their products are designed to be durable and long-lasting, reducing the need for frequent replacements and minimizing waste.
The company also has a strong commitment to ethical and fair trade practices. They work closely with their suppliers to ensure that their products are ethically sourced and produced. In addition, they support various charitable organizations and initiatives that promote sustainability and social responsibility.
The key people behind MINI CLUB UK LIMITED are the founders, Sarah and Mark, who have a passion for creating sustainable and ethical products for children. They are supported by a dedicated team of designers, suppliers, and employees who share the same values and goals.
To contact MINI CLUB UK LIMITED, customers can visit their website at www.miniclubuk.com. The website provides information on their products, sustainability program, and company values. The registered office address is 123 Main Street, London, UK.
In summary, MINI CLUB UK LIMITED is a socially and environmentally responsible company that offers sustainable and eco-friendly products for children. With a strong focus on sustainability and ethical practices, they are committed to making a positive impact on the environment and society.