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CATALYST HEALTHCARE (MANCHESTER) LIMITED

Company number: 04528418

Reporting period:
1 October 2020 to 31 March 2021

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This information is as reported by the business, and responses are in their own words.

This report was filed on 19 April 2021

and approved by Stephanie Exell

Payment statistics

Average time taken to pay invoices: 26 days

Invoices paid:

• within 30 days: 71%
• in 31 to 60 days: 21%
• in 61 days or more: 8%

Invoices due but not paid within agreed terms: 6 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

As a Special Purpose Company (SPC) with a Concession agreement in place with its only customer (Manchester University NHS Foundation Trust) and several related subcontracts in place, the SPC can only pay its subcontractors when the Trust pays the SPC. This is accepted between all parties and whilst the pay-when-paid principle is not now permitted, the SPC continues to apply this practice under the exclusion granted to PFI projects by the Construction Contracts (England) Exclusion Order 2011. All other costs, those that relate to the SPC's own costs, are generally paid within 30 days.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

30 days

Any other information about payment terms

N/A

Dispute resolution process

Any dispute relating to overheads of the SPC will be dealt with by the allocated accountant to the SPC. Disputes relating to any of the operating costs will generally be negotiated between the accountant, the PFI team from Manchester University NHS Foundation Trust and the related subcontractor raising the costs.

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 Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

No

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