VERSUS ARTHRITIS
Company number: 00490500
Reporting period:
1 October 2023 to 31 March 2024
Report filed on:
4 August 2025
Approved by:
Paul Vandenberghe
Payment statistics
Average time taken to pay invoices: 21 days
Invoices paid:
- within 30 days: 87%
- in 31 to 60 days: 12%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 13%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
30 days
Standard payment terms
30 Days - this could vary in relation to the supplier or service provided. This is managed and controlled by relevant stakeholders responsible for the supplier relationship.Our conditions of awards state all claims invoiced will be paid within 30 days of receipt subject to the required verifications and authorisation.
Award invoices must go through a three stage process:
1. Finance receive and log the invoice
2. The invoice is sent to the operations team for verification and authorisation. The authorisation is subject to the scrutiny below
3. Once the invoice is authorised it is returned to finance for payment on the next scheduled month end payment run.
Any claims received must contain sufficient detail to enable us to verify the costs incurred against the financial breakdown provided with the associated award letter. Unfortunately a number of invoices are received which either lack sufficient information or with costs that have not been approved. Therefore to meet audit requirements we must request additional information which delays authorisation and payment of invoices.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
30 days
n/a
Any other information about payment terms
n/a
Dispute resolution process
We refer to the contract between parties as a starting point, and if there are specific issues and challenges then we will engage in a discussion to find a mutually acceptable solution.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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.
Yes
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.
Yes
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?
Yes
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
Yes