| 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 Jan 2019 - 30 Jun 2019 | 11 Jul 2019 | 42 | 32% | 47% | 21% | 64% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
We do not have standard terms from suppliers. Some are 7 days, others 30 days from the date of invoice, others 30 days from the end of the month and some are longer. Are longest term is 120 days.
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
120
Any matters that will knowingly cause a delay in payment are usually identified at the time invoices are sent for approval. The supplier is then contacted to discuss these matters and a resolution is agreed with them. Once the person authorising the invoices is satisfied the invoice is release 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
Restore plc is a UK-listed company that operates through three divisions covering the management of data, information, communications and assets. Its Information Management business provides secure physical document storage, digital transformation and data management. Datashred offers document destruction and shredding services across the UK. The Technology division manages IT assets, including installation, relocation, resale and recycling. The group serves both public and private sector customers, describing its income as predictable and recurring. Restore plc is registered in Redhill, Surrey, and trades on the AIM market of the London Stock Exchange.
Generated from the company's website and Companies House records. Sources: restoreplc.com