From Jan 2018 to Dec 2018, the average time taken for HAMMERSON (BRENT CROSS) LIMITED to pay invoices to suppliers has decreased from 32 days to 29.3 days, indicating an improving trend in payment efficiency.
The volatility in the time taken to pay invoices has decreased from a range of 15 days in the first period to a range of 8.6 days in the third period, indicating a more consistent payment pattern.
From Jan 2018 to Dec 2018, HAMMERSON (BRENT CROSS) LIMITED has shown improvement in paying invoices on time. The percentage of invoices paid within 30 days has increased from 73% to 77.3%, while the percentage of invoices paid later than 60 days has decreased from 15% to 12%. This indicates a better payment track record and a decrease in delays in payment.
| 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 - 26 Sept 2018 | 30 Jan 2019 | 26 | 84% | 12% | 4% | 16% |
| 01 Jan 2018 - 30 Jun 2018 | 25 Jul 2018 | 32 | 73% | 12% | 15% | 27% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms are 30 days following the invoice date.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
30
Hammerson operates a workflow system by which all invoices are logged by the Purchase Ledger team and sent to the Initiator for approval. At this point if the Initiator has a query they will contact the supplier directly to resolve. The supplier will receive a phone call/email/letter indicating the invoice number and reason for rejection. The Initiator will put the invoice on "Stop". Once the query is resolved the Initiator will either return the invoice to the PL team informing them a new invoice/credit note is due or will pass the invoice on for payment.
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
Hammerson Brent Cross Limited is a company registered in England, incorporated in 1997, with its registered office in London. Companies House lists its business as development of building projects and management of real estate on a fee or contract basis. It forms part of the Hammerson group, whose parent company describes itself as the largest UK-listed, pure-play owner and manager of prime retail and leisure destinations across the UK, France and Ireland, including the Brent Cross destination in North London. The wider group manages a portfolio worth £4.8 billion, but this entity itself functions as one of the group's property-holding or management vehicles associated with the Brent Cross site rather than an independent trading business.
Generated from the company's website and Companies House records. Sources: hammerson.com · hammerson.com