THE EXTRACARE CHARITABLE TRUST
Company number: 02205136
Reporting period:
1 April 2025 to 30 September 2025
Report filed on:
30 October 2025
Approved by:
Chris Skelton
Contracts and payments
Do any of this business's construction contracts with its suppliers include retention clauses? Yes
Payment statistics
Average time taken to pay invoices: 28 days
Total value paid:
- within 30 days: £25,879,841 (87%)
- in 31 to 60 days: £2,682,010 (9%)
- in 61 days or more: £1,155,836 (4%)
Invoices paid:
- within 30 days: 92%
- in 31 to 60 days: 5%
- in 61 days or more: 3%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £3,149,469
- payments due in the reporting period which have not been paid within the agreed period: 10%
- not made in the reporting period due to a dispute: 1%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
30 days
Standard payment terms
Majority of suppliers are on 30 days terms (61%), Smaller suppliers may be on 21, 14, or 7 days terms
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
Retention clauses
How does this business use retention clauses?
Retention clauses are used in specific circumstances:
We periodically contract for construction/modernisation projects in relation to properties that remain in our ownership.
Does this business only use retention clauses in construction contracts above a specific contract sum?
Yes: £500,000
Does this business use a standard percentage rate in retention clauses?
Yes: 10%
Does this business apply retention clause practices that are no more onerous than those applied to it on the same project?
Yes:
n/a We do not have construction clients.
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
Work is certified by quantity surveyors and payments are made on the basis of the contract term as soon as the certification and invoice are received.
Is the money released in stages?
No
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
0%
Amount retained stated as a percentage of the total construction payments made by this business
10%
Dispute resolution process
We strive to work with suppliers to achieve prompt resolution of disputes. The team are contactable on finance@extracare.org.uk
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.
No
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.
No
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?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No