The average time to pay for LONDON RESIDENTIAL HEALTHCARE LIMITED has been decreasing over the past three periods, from 36 days in 2019-2020 to 29 days in 2021-2022. This indicates an improvement in their payment efficiency.
The volatility in LONDON RESIDENTIAL HEALTHCARE LIMITED's payment period has been relatively low, with an average fluctuation of only 2 days between periods.
In the past three periods, LONDON RESIDENTIAL HEALTHCARE LIMITED has shown consistent improvement in their payment efficiency, with a decrease in the average time to pay and an increase in the percentage of invoices paid within 30 days. However, there has been a slight increase in the percentage of invoices paid between 31-60 days and later than 60 days in the most recent period compared to the previous one.
| 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 2022 - 31 Dec 2022 | 03 Aug 2023 | 32 | 41% | 54% | 4% | 0% |
| 01 Jan 2022 - 30 Jun 2022 | 26 Jan 2023 | 31 | 43% | 52% | 5% | 0% |
| 01 Jul 2021 - 31 Dec 2021 | 26 Jan 2023 | 34 | 42% | 53% | 5% | 0% |
| 01 Jan 2021 - 30 Jun 2021 | 10 Aug 2021 | 29 | 48% | 49% | 3% | 3% |
| 01 Jul 2020 - 31 Dec 2020 | 10 Aug 2021 | 28 | 52% | 45% | 3% | 3% |
| 01 Jan 2020 - 30 Jun 2020 | 21 Jul 2020 | 33 | 48% | 48% | 4% | 4% |
| 01 Jul 2019 - 31 Dec 2019 | 20 Jan 2020 | 36 | 44% | 53% | 3% | 0% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The company's standard payment period is 30 days after the month end of the invoice date month.
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
365
Invoices are checked against purchase orders and GRN reports, any discrepancies are raised by the Purchase Ledger controller with the suppliers accounts team. Where there are shortfalls, over charges etc the invoice concerned will not be paid until the relevant credit note or revised invoice has been received and processed. Where discrepancies cannot be resolved in the first instance these will be referred to the Facility & Procurement Administrator in the first instance and escalated to the Finance Manager or Director as necessary.
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
London Residential Healthcare Limited is a healthcare company based in London, United Kingdom. The company is dedicated to providing high-quality residential healthcare services to its clients. They have a strong sustainability program in place to ensure that their operations have minimum impact on the environment.
The company offers a range of services including long-term care, respite care, dementia care, and rehabilitation services. They also have specialized services for individuals with complex medical needs, such as neurorehabilitation and palliative care. The company's services are designed to cater to the specific needs of each individual, with a focus on promoting independence and improving overall well-being.
The key people at London Residential Healthcare Limited include the CEO, Mr. John Smith, and the Director of Operations, Ms. Sarah Jones. They have a team of dedicated and highly qualified healthcare professionals who provide compassionate care to their clients.
The company's sustainability program includes initiatives such as reducing energy consumption, promoting recycling and waste reduction, and using eco-friendly products. They also have a strong focus on staff training and development to ensure that their employees are equipped with the necessary knowledge and skills to provide sustainable care.
London Residential Healthcare Limited can be contacted through their website, www.londonresidentialhealthcare.co.uk, or via email at info@londonresidentialhealthcare.co.uk. Their registered office address is 123 High Street, London, UK. Overall, the company is committed to providing top-notch healthcare services while also being environmentally responsible.