ABCAM LIMITED
Company number: 03509322
Reporting period:
1 January 2025 to 30 June 2025
Report filed on:
22 July 2025
Approved by:
Christopher Bouda
Payment statistics
Average time taken to pay invoices: 33 days
Total value paid:
- within 30 days: £49,137,848 (51%)
- in 31 to 60 days: £35,680,290 (37%)
- in 61 days or more: £12,272,111 (13%)
Invoices paid:
- within 30 days: 23%
- in 31 to 60 days: 62%
- in 61 days or more: 15%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £48,592,941,369
- payments due in the reporting period which have not been paid within the agreed period: 75%
- not made in the reporting period due to a dispute: 1%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
120 days
Standard payment terms
Abcam is committed to paying all approved, undisputed expenditure promptly and within the agreed payment terms on receipt of a valid invoice. Disputes are targeted to be responded to within 48 hours of receipt of the dispute with either an acknowledgement of receipt or a resolution. Our most frequently used payment terms for qualifying contracts are 30-day terms. Much of our due but not paid within terms is due to invoices being due for payment between our weekly payment runs.
Were there any changes to the standard payment terms in the reporting period?
Abcam are in the process of term negotiation with our suppliers to bring us in line with our parent company and other opco's during this reporting period, this will be an ongoing process as we work with all current suppliers whilst removing under 30-day term options from newly set up suppliers.
Were suppliers notified or consulted about these changes before they were made?
121 negotiation, this could be via face to face, email, team, video call depending on location of the supplier and their preference
Maximum contractual payment period agreed
1,825 days
No further comment provided
Any other information about payment terms
Abcam are in the process of term negotiation with our suppliers to bring us in line with our parent company and other opco's during this reporting period, this will be an ongoing process as we work with all current suppliers whilst removing under 30-day term options from newly set up suppliers.
Dispute resolution process
All Procurement and Accounts Payable staff are trained and understand the importance of the timely and complete investigation through to resolution of disputes. Disputes are targeted to be responded to within 48 hours of receipt with either an acknowledgement of receipt or a resolution. Causes for dispute might include, but not limited to the following: · Non-receipt of invoice · Goods not received · Delivered product/service not matching invoice · Insufficient information o Incorrect bill to address or company name o Missing/Incorrect information (purchase order requirements) o VAT requirements o Change of details (i.e. new bank account) To proactively avoid any disputes leading from delays in payments the accounts payable team email all suppliers AR departments directly, confirming any of the above points requesting a corrected invoice to ensure payments are not delayed. All statements received are also reconciled and confirmation of the reconciliation sent back to the supplier so that they are fully aware of all invoice statuses at the point of reconciliation.
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