CEUTA HEALTHCARE LIMITED
Company number: 02974951
Reporting period:
1 October 2020 to 31 March 2021
Report filed on:
4 May 2021
Approved by:
Chris Hoole
Payment statistics
Average time taken to pay invoices: 53 days
Invoices paid:
- within 30 days: 52%
- in 31 to 60 days: 35%
- in 61 days or more: 13%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 63%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
It is Company policy to agree appropriate terms of payment with each supplier, and to pay invoices in line with those terms subject to the timely submission of satisfactory invoices. The majority of our suppliers are on 30 day payment terms with the exception of import duty which is paid immediately.
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
90 days
No further comment provided
Any other information about payment terms
Ceuta Healthcare performs two payment runs a month (15th and EOM), so whilst 63% of invoices are not paid to terms, 46% of invoices are paid either before the due date or on the next payment run after the invoice becomes due. Our Clients and suppliers are aware of this process.
Dispute resolution process
The Company is committed to dealing with its suppliers in a fair, honest and professional manner. We seek to resolve queries as quickly as possible to both parties satisfaction prior to payment being made. The invoice approver will reject an invoice they dispute and will advise the Purchase Ledger department why and the steps needed to resolve the issue. The approver will then contact their supplier to discuss the issue for resolution. Purchase Ledger will follow up outstanding queries each week and escalate to the approvers’ manager if a satisfactory resolution has not been found. When the invoice becomes aged this is escalated to the Finance Manager and then Finance Director for further action.
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