Over the past three periods, WALKERS SHORTBREAD LIMITED has consistently improved their average time to pay invoices, with a decrease of 36% from 2018 to 2019. The percentage of invoices paid within 30 days has also increased by 23%, indicating a strong commitment to timely payments. The company has also reduced the percentage of invoices paid later than 60 days by 66% over the same period. These improvements show a positive trend towards prompt payment to suppliers.
There is a consistent pattern of improvement in all metrics for WALKERS SHORTBREAD LIMITED, with very little volatility between periods. This indicates a stable and reliable approach to managing invoice payments.
| 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 2019 - 31 Dec 2019 | 12 Mar 2020 | 17 | 84% | 15% | 1% | 3% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 18 | 86% | 14% | 0% | 7% |
| 01 Jul 2018 - 31 Dec 2018 | 04 Feb 2019 | 20 | 79% | 21% | 0% | 10% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 28 | 61% | 38% | 1% | 20% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms are end of month following the invoice date. There are variations to these standard terms that are applied when negotiated and agreed by both parties.
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
61
If a dispute or query arises on an invoice, in general the issue is resolved either by phone or a dedicated email address. All disputes are dealt with as they arise and followed up regularly as required. If needs be the dispute can be escalated to more senior company representative, currently the Finance Manager and/or Head of Purchasing.
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
Walker's Shortbread Limited is a Scottish food manufacturer based in Aberlour-on-Spey, Speyside, producing shortbread, biscuits, oatcakes, cakes and tarts, along with gift tins and hampers. Registered on Companies House under SIC code 10720 for the manufacture of biscuits, rusks and preserved pastry goods, the company has traded since 1977. Its own site describes over 125 years of baking traditional recipes in the Scottish Highlands, and it holds a Royal Warrant of Appointment as official supplier of shortbread and oatcakes to the Royal Household. Products are sold direct to consumers online and to trade customers. The company remains an active, family-associated Scottish baking business rather than a mere distributor of third-party goods.
Generated from the company's website and Companies House records. Sources: walkersshortbread.com · walkersshortbread.com