| 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 2021 - 31 Dec 2021 | 31 Jan 2022 | 35 | 72% | 13% | 15% | 39% |
| 01 Jan 2021 - 30 Jun 2021 | 27 Jul 2021 | 38 | 70% | 11% | 19% | 39% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 44 | 70% | 13% | 17% | 44% |
| 01 Jan 2020 - 30 Jun 2020 | 28 Jul 2020 | 35 | 72% | 16% | 12% | 43% |
| 01 Jul 2019 - 31 Dec 2019 | 24 Jan 2020 | 45 | 50% | 31% | 19% | 60% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
CVS endeavours to process all payments to the suppliers of all CVS Group companies by their due date whilst at the same time making use of twice weekly payment runs to consolidate payments into batches of an efficient size. 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 information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
90
The CVS Group hasn’t published a formal dispute resolution document. However, all payment disputes for all Group companies 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 member of staff 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.
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
CVS Group PLC is a company listed on the London Stock Exchange that operates veterinary services across the UK and Australia. It runs around 500 veterinary practices, including specialist-led referral hospitals, out-of-hours sites, equine and farm practices, alongside three diagnostic laboratories, a buying group (VetDirect), a pet health plan (The Healthy Pet Club) and an online retail business (Animed Direct). The group employs roughly 8,800 colleagues, including vets, nurses and specialists, providing clinical care, diagnostics and related veterinary products and services to animal owners nationwide. The registered entity, incorporated in 2007 and based in Diss, Norfolk, is the parent company of this veterinary services group.
Generated from the company's website and Companies House records. Sources: cvsukltd.co.uk · cvsukltd.co.uk