GREAT ORMOND STREET HOSPITAL CHILDREN'S CHARITY
Company number: 09338724
Reporting period:
1 October 2018 to 31 March 2019
Report filed on:
30 April 2019
Approved by:
Ian Chivers
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 70%
- in 31 to 60 days: 19%
- in 61 days or more: 11%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 3%
Payment terms
Shortest standard payment periods
5 days
Longest standard payment period
30 days
Standard payment terms
Our standard payment period is 30 days for most contract types, except some recruitment and utility companies which have shorter terms. Construction contracts are invoiced to the charity based on agreed stages of completion.
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
Payment disputes are resolved by the team responsible for requisitioning the good or service. They will park the disputed invoice on the finance system, with comments that can be monitored by our accounts payable team. Disputes are resolved by paying the original invoice or by a credit note with an amended invoice if necessary.
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.
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