F.Hinds' Business Payment Practices

It is now possible to check when large businesses in the UK pay their suppliers at they have to report this information to the government. This information includes:
• The time it takes for the business to pay its suppliers
• The percentage of payments that it does not make on time within the terms agreed

You can find our reports here: https://check-payment-practices.service.gov.uk/company/00149328/reports

If you access the reports, you will see that we pay our suppliers promptly compared to many larger businesses. 94% are paid on monthly terms or quicker than this.

In addition, we are especially proud that we pay 100% of the invoices due within the terms agreed with our suppliers.

Many companies agree fair terms with their suppliers, but some then fail to pay a large proportion of invoices within the time agreed. We believe that it is right to provide generous payment terms to our suppliers, but even more important to always pay them when promised, as businesses small and large need certainty in their finances.

Notes:
A large business is a company or limited liability partnership that has at least two of the following:
• £36 million in turnover
• £18 million on its balance sheet
• 250 employees
Such businesses must publish reports at least twice a year.
Percentages above are rounded to the nearest 1%

Updated April 2023