CVS (UK) LIMITED
Company number: 03777473
Reporting period:
1 July 2024 to 31 December 2024
Report filed on:
14 January 2025
Approved by:
Robin Alfonso
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 82%
- in 31 to 60 days: 10%
- in 61 days or more: 8%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 30%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
30 days
Standard payment terms
CVS UK Ltd ("CVS") endeavours to process all payments to suppliers by their due date whilst at the same time making use of twice weekly payment runs to consolidate payments into batches. As a result of these scheduled payment runs, invoices are usually included for payment within days of becoming due. All invoices received by CVS are processed by the centralised Accounts Payable team, located at the company’s Head Office at CVS House, Owen Road, Diss, Norfolk, IP22 4ER (email: AccountsPayable@cvsvets.com). To maximise the prompt payment of invoices, CVS encourages all suppliers to send their invoices directly to the Accounts Payable team in order that the invoice is registered as soon as possible on the company’s accounting system and promptly sent out to the business for approval.
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
No further comment provided
Dispute resolution process
CVS hasn’t published a formal dispute resolution document. However, all payment disputes are resolved in the same manner regardless of the size of the supplier. The company’s centralised Accounts Payable team will refer all disputed invoices to the employee requisitioning the goods or services for resolution. If required, the matter will be escalated within the company including involvement of Executive Directors where required. CVS endeavours to resolve all invoice disputes prior to the payment becoming due in order that no impact is made on expected payment terms.
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