CHILDREN'S HOSPICE SOUTH WEST
Company number: 02620879
Reporting period:
1 April 2025 to 30 September 2025
Report filed on:
8 April 2026
Approved by:
Jonathan Webber
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: 22 days
Total value paid:
- within 30 days: £2,967,519 (99%)
- in 31 to 60 days: £17,051 (< 1%)
- in 61 days or more: £20,559 (< 1%)
Invoices paid:
- within 30 days: 98%
- in 31 to 60 days: 1%
- in 61 days or more: 1%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £9,346
- payments due in the reporting period which have not been paid within the agreed period: 23%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
3 days
Longest standard payment period
30 days
Standard payment terms
Our standard payment terms are generally 30 days from the date of invoice, which we request from all suppliers. We work with suppliers in a flexible and collaborative manner, taking into account the size, scope, and nature of their business. Where appropriate, we may agree alternative arrangements to suit specific circumstances, but our aim is to maintain consistent 30-day payment terms wherever possible.
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
No further comment provided
Any other information about payment terms
No further comment provided
Retention clauses
How does this business use retention clauses?
Retention clauses are used in specific circumstances:
Our construction contracts generally include retention clauses only in specific circumstances, such as when a project involves higher risk or significant value. Any deviations from standard terms are reviewed and approved by our senior leadership team to ensure appropriate risk mitigation and alignment with our commercial and operational objectives.
Does this business only use retention clauses in construction contracts above a specific contract sum?
No
Does this business use a standard percentage rate in retention clauses?
No
Does this business apply retention clause practices that are no more onerous than those applied to it on the same project?
No
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
Any funds deducted or retained under a retention clause are released in accordance with the terms of the contract, typically following the satisfactory completion of the relevant project milestones or defects liability period. The release process is reviewed and approved by our senior leadership team to ensure all contractual obligations have been met and risks mitigated. Payments are then processed through our standard accounts payable procedures, generally within our standard 30-day payment terms from approval.
Is the money released in stages?
Yes:
Any funds deducted or retained under a retention clause are released in accordance with the terms of the contract.
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
2%
Dispute resolution process
Disputes and complaints under qualifying contracts are handled on a case-by-case basis. Each matter is reviewed and investigated independently to ensure a fair assessment. We aim to work with all parties to reach a constructive and equitable resolution in a timely manner, following our internal escalation procedures.
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