| 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 2024 - 28 Feb 2025 | 28 Mar 2025 | 43 | 77% | 10% | 13% | 23% |
| 01 Sept 2023 - 29 Feb 2024 | 31 Mar 2024 | 41 | 54% | 29% | 17% | 46% |
| 01 Mar 2023 - 31 Aug 2023 | 29 Sept 2023 | 31 | 82% | 12% | 6% | 18% |
| 01 Sept 2022 - 28 Feb 2023 | 28 Mar 2023 | 39 | 62% | 29% | 9% | 40% |
| 01 Mar 2022 - 31 Aug 2022 | 28 Sept 2022 | 44 | 52% | 29% | 19% | 49% |
| 01 Sept 2021 - 28 Feb 2022 | 30 Mar 2022 | 36 | 53% | 39% | 8% | 48% |
| 01 Mar 2021 - 31 Aug 2021 | 30 Sept 2021 | 41 | 58% | 37% | 5% | 43% |
| 01 Sept 2020 - 28 Feb 2021 | 30 Mar 2021 | 43 | 52% | 33% | 15% | 49% |
| 01 Mar 2020 - 31 Aug 2020 | 30 Sept 2020 | 62 | 39% | 25% | 35% | 62% |
| 01 Sept 2018 - 28 Feb 2019 | 15 Mar 2019 | 38 | 75% | 14% | 11% | 29% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment term is 30 days from receipt of invoice
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
30
There are two options available to a supplier if they wished to raise a dispute: 1) Contact the IKEA Business Service Centre Team The IKEA supplier pack sent out to new suppliers includes a contact email address given for suppliers to use when they have any payment queries. This email address (accounts.payable.uk@ingka.ikea.com) is managed by the IKEA Business Service Centre team (BSC) in Bangalore, India. This IKEA Company is responsible for the administration of invoices through our electronic invoicing system, SAP VIM. They are also the first point of contact for supplier queries. Suppliers may contact the BSC with all queries, including disputes. The BSC have full visibility of the invoice status at all times and well placed to support the supplier in answering their query. This includes escalating the matter to the relevant person in the business as and when required in order for the dispute to be resolved. 2) Contact their nominated IKEA contact Suppliers may also contact their nominated IKEA contact person i.e. the individual managing the provision of good or services on the IKEA side to raise any disputes directly. IKEA’s standard purchasing template includes a section specifying the details of the individual to be contacted (referred to as a “contract manager”), and also includes a dispute resolution section for all disputes. This covers payment disputes. The sections sets time limits for resolving disputes in good faith before escalating to senior management representatives if necessary.
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
IKEA Properties Investments Limited is a UK-based company that operates as a subsidiary of the IKEA Group. The company's main activities revolve around real estate investments, property development, and management of the IKEA Group's properties. As part of its sustainability program, the company focuses on reducing its environmental impact and promoting sustainable living.
IKEA Properties Investments Limited offers a wide range of products and services, including retail and commercial spaces, warehouses, distribution centers, and offices. The company also provides property management services to ensure the efficient operation and maintenance of its properties.
The key people at IKEA Properties Investments Limited include the company's managing director, Peter Betzel, and the chairman, Lars-Johan Jarnheimer. Both have extensive experience in the retail and real estate industries, bringing valuable expertise to the company.
To contact IKEA Properties Investments Limited, individuals can visit their website at www.ikea.com/gb/en/properties/ or reach out to their registered office address at Witan Gate House, 500-600 Witan Gate, Milton Keynes, MK9 1SH. The company is committed to transparency and can be contacted for any inquiries or concerns regarding their sustainability practices and investments. Overall, IKEA Properties Investments Limited plays a crucial role in the success of the IKEA Group while prioritizing sustainability and responsible business practices.