The trend for Millbrook Healthcare Ltd's average time to pay invoices has remained consistent over the past three periods, with an average of 35 days. However, there has been a slight increase in the percentage of invoices paid within 30 days and a decrease in the percentage of invoices paid between 31 and 60 days. This suggests a trend towards earlier payment of invoices.
There is minimal volatility in Millbrook Healthcare Ltd's average time to pay invoices, as the numbers have remained consistent over the past three periods.
From July 2017 to December 2018, Millbrook Healthcare Ltd's average time to pay invoices has remained at 35 days. However, there has been a slight improvement in the percentage of invoices paid within 30 days, from 40% to 38%. The percentage of invoices paid between 31 and 60 days has also decreased, from 54% to 55%. The company has consistently had a low percentage of invoices paid later than 60 days, at 7%. The shortest standard payment period for Millbrook Healthcare Ltd has remained at 60 days.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2017 - 31 Dec 2017 | 25 Jan 2018 | 34 | 40% | 54% | 7% | 32% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms are 30 days EoM
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
75
If an invoice doesn't agree to an outstanding PO, whether it be for value, quantity or non receipt they are logged on the accounts system and sent to the buying department. The turn around of invoice dispute to resolution will depend on the complexity of the query and response times from suppliers our internal departments.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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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.
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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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Millbrook Healthcare works on behalf of UK local authorities and the NHS to support vulnerable people in their own homes. It delivers, installs and maintains community equipment such as electric beds, pressure care mattresses and mobility aids, carries out home adaptations including stair lifts, grab rails and walk-in showers, and provides Technology Enabled Care using alarms, sensors and telephony to support independent living. Through subsidiaries it also offers wheelchair services and healthcare equipment. Its services aim to help people avoid hospital admission or care home placement, or to support discharge from hospital, operating under contracts with local government and NHS commissioners.
Generated from the company's website and Companies House records. Sources: millbrookhealthcare.co.uk