GOV.UK
ALZHEIMER'S SOCIETY
Company number: 02115499
Reporting period:
1 April 2021
to 30 October 2021
This report was filed on 26 November 2021
and approved by Manish Shah
Payment statistics
Average time taken to pay invoices: 45 days
Invoices paid:
- within 30 days: 52%
- in 31 to 60 days: 38%
- in 61 days or more: 10%
Invoices due but not paid within agreed terms: 48 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
The Society’s standard terms of payment are 30 days from the date of the invoice. Whilst there were no changes to the standard contractual payment terms (which remained as 30 days after date of invoice), arrangements were put in place from March 2020 with a number of suppliers to extend their payment terms beyond the standard payment terms (of up to 90 days from date of invoice) or by agreement to cost reductions to help the Society in meeting financial challenges as a result of the Coronavirus pandemic. The extensions to payment terms have now ceased. This has been reflected with the percentage of payments made within standard terms moving closer to pre Covid levels.
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
Payment disputes are resolved through the Accounts Payables team who act as the liaison point between the supplier and the payment approver in the Society. Authority to or not to pay is within the remit of the delegated authority holders approved by the Society’s Board of Trustees.
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.
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