ALMAC PHARMA SERVICES LIMITED
Company number: NI045055
Reporting period:
1 April 2026 to 30 September 2026
Report filed on:
2 November 2026
Approved by:
Niall Harkin
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: 41 days
Total value paid:
- within 30 days: £23,042,006 (43%)
- in 31 to 60 days: £24,630,893 (46%)
- in 61 days or more: £6,201,497 (12%)
Invoices paid:
- within 30 days: 37%
- in 31 to 60 days: 49%
- in 61 days or more: 14%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £18,142,364
- payments due in the reporting period which have not been paid within the agreed period: 33%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
The most frequently used terms were 30 days from the end of the month in which the invoice is dated.
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
60 days
No further comment provided
Any other information about payment terms
Invoices are paid only if correctly presented with all necessary information and only when approved by the relevant buyer. As a result, payment terms may be impacted where time is required to resolve queries.
Retention clauses
How does this business use retention clauses?
All construction contracts include retention clauses.
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?
Yes: 3%
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
Normal approach is 3% full retention on all Interim Payment certificates which then drops to 1.5% on Practical completion.
That 1.5% retention will then be released after Defects period expires (usually 12months from date Practical Completion or date of occupation).
Retention is only released if we have an accompanying payment certificate from our QS and the Architect.
Is the money released in stages?
Yes:
3% full retention on all interim payment certificates
1.5% on Practical Completion during defects period (usually 12 months)
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
3%
Dispute resolution process
Payment disputes are handled by the Accounts Payable team, which liaises with the suppliers and the company’s buyers as necessary to resolve invoice and payment queries in a timely manner. Where correction of an invoice is necessary, payment is processed as soon as reasonably practicable following receipt of corrected invoice. The Accounts Payable team may be contacted via a dedicated Accounts Payable mailbox or by telephone.
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