Supplier Payment Practices Action Plan

Supplier Payment Practices Action Plan

This summary sets out Zenith Developments Group Ltd's approach to supplier payment practices and the actions being taken to monitor and improve payment performance where commercially appropriate.

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Our Supplier Payment Terms

Zenith Developments Group Ltd operates standard supplier payment terms of 30 days end of month, unless alternative terms have been specifically agreed with a supplier.

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Due to the nature of these agreed payment terms, some supplier invoices may fall into a later reporting band even where they are paid in accordance with the agreed contractual payment terms.

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Primary Cause Identified

The primary reason for the payment profile is the company's standard 30 days end of month payment terms. This reflects the timing of agreed payment cycles rather than any underlying liquidity issue or inability to pay suppliers.

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Actions Being Taken

• Continue to monitor supplier payment performance and payment approval processes.

• Review supplier invoice queries promptly to avoid unnecessary delays.

• Consider opportunities to reduce payment times where commercially appropriate and aligned with supplier agreements.

• Continue to pay suppliers in accordance with agreed contractual terms.

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Monitoring and Governance

Payment performance will be reviewed by the Finance team and reported to the Board of Directors, which acts as the company's equivalent governance body. Progress will be monitored on an ongoing basis.

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Commitment

Zenith Developments Group Ltd remains committed to maintaining strong supplier relationships, paying suppliers in accordance with agreed terms, and keeping payment processes under regular review.