VOC REALISATIONS LIMITED exhibits a concerning payment trend, with an average payment time of 22 days despite 74% of all payments being late. A significant majority (53%) of payments consistently fall into the 31-60 day bracket, indicating a standard operational practice of settling beyond typical 30-day terms, with an additional 19% exceeding 60 days.
While 74% of payments are late, a predictable pattern exists where over half (53%) are settled reliably within 31-60 days, offering some expectation for delayed cash flow. However, the 19% of payments extending beyond 60 days introduces substantial unpredictability and heightened risk of severely delayed receivables for a portion of transactions.
Suppliers should anticipate consistent late payments, with most invoices settling between 31 and 60 days, and a notable minority exceeding 60 days. Consider adjusting payment terms to align with their established 31-60 day cycle, or implement stricter credit limits and active receivable monitoring. To mitigate risk, suppliers could explore requiring partial upfront payments or charging late fees for payments exceeding agreed-upon terms.
| 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 Apr 2024 - 30 Sept 2024 | 28 Oct 2024 | 33 | 55% | 41% | 4% | 45% |
| 01 Oct 2023 - 31 Mar 2024 | 26 Apr 2024 | 22 | 28% | 53% | 19% | 74% |
| 01 Apr 2023 - 30 Sept 2023 | 27 Oct 2023 | 46 | 22% | 62% | 16% | 65% |
| 01 Oct 2022 - 31 Mar 2023 | 29 Apr 2023 | 35 | 33% | 62% | 5% | 53% |
| 01 Apr 2022 - 30 Sept 2022 | 28 Oct 2022 | 34 | 38% | 59% | 3% | 47% |
| 01 Oct 2021 - 31 Mar 2022 | 27 Apr 2022 | 37 | 38% | 58% | 4% | 46% |
| 01 Apr 2021 - 30 Sept 2021 | 29 Oct 2021 | 35 | 44% | 51% | 5% | 54% |
| 01 Oct 2020 - 31 Mar 2021 | 29 Apr 2021 | 38 | 39% | 57% | 4% | 51% |
| 01 Apr 2020 - 30 Sept 2020 | 28 Oct 2020 | 39 | 37% | 59% | 4% | 57% |
| 01 Oct 2019 - 31 Mar 2020 | 29 Apr 2020 | 40 | 25% | 69% | 6% | 56% |
| 01 Apr 2019 - 30 Sept 2019 | 30 Oct 2019 | 41 | 31% | 62% | 7% | 58% |
| 01 Oct 2018 - 31 Mar 2019 | 29 May 2019 | 45 | 22% | 64% | 14% | 53% |
| 01 Apr 2018 - 30 Sept 2018 | 31 Oct 2018 | 45 | 27% | 61% | 12% | 46% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Vocare's standard payment terms are 30 days from date of invoice for our suppliers. Vocare also engages with self-employed healthcare professionals and GP's (PSC's) who are on agreed 30 day payment terms. We deal with suppliers to whom we offer 0-14 day payment terms. We have two payment runs a month, usually around 15th of the month, and the last working day of the month, invoices authorised for payment up to this date are included in the run.
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
30
Vocare's goal is to be transparent through clear communication and build strong collaborative relationships with our suppliers. We communicate disputes with suppliers via email ( or telephone where necessary), providing a full reconciliation and explanation of the issue. We endeavour to resolve these disputes in a timely manner and monitor an accounts payable inbox 8am-5pm, Monday to Friday. We are contactable via a Finance phoneline. Our aim is to resolve queries within 3 working days, with the majority answered same day. In addition the accounts payable team complete weekly supplier reconciliations on key suppliers and follow up on invoices in dispute or awaiting approval every 3-5 working days.
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
VOC REALISATIONS LIMITED is a private limited company. This organisational structure facilitates commercial operations with limited liability for its shareholders. The company is currently In Administration.
Registered under company number 09933257, VOC REALISATIONS LIMITED was incorporated on 31 December 2015. Its registered office is situated at Ernst & Young Limited, 12 Wellington Place, Leeds, West Yorkshire, LS1 4AP, within the broader Yorkshire region.
In the UK, private limited companies are fundamental business entities that can engage in a vast range of commercial activities. They typically provide various services or products to customers and clients across diverse economic sectors, operating under a structure that separates the company's liabilities from its owners.