GOV.UK
COLLEYCARE LIMITED
Company number: 02234990
Reporting period:
1 October 2022
to 30 September 2023
This report was filed on 11 October 2023
and approved by Trinna Bruton
Payment statistics
Average time taken to pay invoices: 30 days
Invoices paid:
- within 30 days: 68%
- in 31 to 60 days: 26%
- in 61 days or more: 6%
Invoices due but not paid within agreed terms: 40 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
45 days
Standard payment terms
For payments regarding services to the homes we process a cheque run every 2 weeks.
We receive an invoice, this invoice is entered onto the accounting system and placed on hold. The invoice is then sent to the relevant departments to be authorised. Once the purchase ledger receives the invoice back, if the invoice is authorised it will be taken off hold and paid on the next invoice run. If the invoice is not authorised a query will be raised with the supplier and will be kept on hold until the query is sorted.
Payments for the maintenance department are processed differently from the invoices for the day to day running of a home. Maintenance Invoices are logged onto excel as they are received. The invoices are then coded, checked and then sent out to be authorised. Once authorised they are entered onto the accounting system. If the invoice is not authorised a query will be raised with the supplier and will be kept on hold until the query is sorted. A payment run is processed once a month.
There are no changes to our standard payment terms in the reporting period.
Our main reasons for not paying an invoice is that we do not have the correct delivery note or a price query. We will not release an invoice for payment that is on hold until the relevant credit note has been received and authorised.
Some small group of suppliers who like payment on return, we put these on as 0-day payment terms, we pay these as soon as possible and suppliers are quite happy with how they are paid, but they will always show as late payment. (These are usually individuals who provide entertainment and hairdressing services in our residential homes). We do not want to change their payment profile on the system as when our staff look at their terms they know to prioritise these payments.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
45 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
If any supplier has any issues regarding payments or disputes they should contact the purchase ledger department, in writing to Colleycare Limited, Purchase Ledger Department, Old Town Court, 70 Queensway, Hemel Hempstead, Herts, HP2 5HD or telephone 01442 236020.
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