The average time to pay for THE SANDWICH FACTORY HOLDINGS LIMITED has decreased over the past three periods, from 74 days in Sep 2017 to 62 days in Mar 2019. This shows an improvement in the company's payment efficiency.
The volatility in the average time to pay for THE SANDWICH FACTORY HOLDINGS LIMITED has been relatively low, with only a 12-day difference between the highest and lowest average time to pay.
In the past three periods, THE SANDWICH FACTORY HOLDINGS LIMITED has shown a consistent improvement in their payment efficiency. The company has decreased their average time to pay by 12 days, from 74 days in Sep 2017 to 62 days in Mar 2019. This is reflected in their decrease in the percentage of invoices paid later than 60 days, from 65% in Sep 2017 to 54% in Mar 2019. The company has also increased the percentage of invoices paid within 30 days, from 6% in Sep 2017 to 8% in Mar 2019. However, there is still room for improvement as the percentage of invoices paid between 31 and 60 days has remained relatively constant at around 30-40%.
| 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 |
|---|---|---|---|---|---|---|
| 31 Mar 2018 - 28 Sept 2018 | 27 Oct 2018 | 69 | 7% | 34% | 59% | 6% |
| 30 Sept 2017 - 30 Mar 2018 | 27 Apr 2018 | 74 | 6% | 29% | 65% | 27% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms are the next electronic transfer payment run following the 90th day of the date of receipt of a valid invoice https://www.greencore.com/sustainability/great-food/supply-chain/
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
125
If the company disputes any invoice or part of any invoice issued by the supplier to the company or receives an invoice in respect of any goods which the company believes (acting reasonably) have not been properly provided then: • The company will pay that part of the invoice which is not the disputed sum in accordance with the payment terms; • The company will be entitled to withhold payment of the disputed sum; • The parties will negotiate in good faith to resolve the dispute, but if a resolution cannot be reached within ninety (90) days of the start of such negotiations, the matter will be determined by the Courts; • The supplier will provide all such information and evidence as may be reasonably necessary to verify the disputed sum; and • following resolution of the dispute, the company will pay to the Supplier that part of the disputed sum (if any) as it is resolved is payable by the company
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
The Sandwich Factory Holdings Limited is a registered entity within Greencore Group, a UK convenience food manufacturer. Companies House lists its nature of business as the manufacture of other food products not elsewhere classified, and its registered office is at a Greencore site in Worksop. Greencore describes itself as a leading producer of convenience foods, supplying chilled, frozen and ambient foods to retail and food service customers across the UK. As a holding entity within this wider group, the company itself does not independently trade in the market but forms part of the corporate structure supporting Greencore's food manufacturing operations, which include sandwiches and related chilled products made across its UK production sites.
Generated from the company's website and Companies House records. Sources: greencore.com