NORTON HEALTHCARE LIMITED
Company number: 00947980
Reporting period:
1 January 2024 to 30 June 2024
Report filed on:
29 July 2024
Approved by:
Roland Potts
Payment statistics
Average time taken to pay invoices: 89 days
Invoices paid:
- within 30 days: 2%
- in 31 to 60 days: 7%
- in 61 days or more: 91%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 49%
Payment terms
Shortest standard payment periods
120 days
Longest standard payment period
Answer not provided
Standard payment terms
Standard payment terms are 120 days paid on the following 10th or 25th of the month. We do have vendors on payment terms which are different to the standard
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
120 days
No further comment provided
Any other information about payment terms
Figures disclosed include intercompany payment transactions. Results for 3rd party only are: average number of days to pay is 90; %age of invoices paid under 30 days is 2%, 31-60 days is 7% and over 60 days is 91%; invoices due but not paid within agreed terms is 49%
Dispute resolution process
Invoices are sent to the PO requestor or approver for review via ERP system and discrepancies are raised with the vendor. Queries may also be advised to the GBS or Local Finance teams, who would advise the vendor of the query and reason for non-payment
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.
Yes
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