01
WIP Summary
Total WIP increased by £42k in April to £387k, the highest level in the past six months. Average ageing has risen to 52 days, up from 46 days in March. This is the fifth consecutive month of WIP growth and represents a 78% increase since November 2025.
The concentration risk is significant: two contracts — Riverside FM (£124.6k) and Cathedral Quarter (£86.2k) — account for 54% of total WIP. Both have identifiable, resolvable blockers. Riverside has had two consecutive monthly applications rejected due to format issues. Cathedral Quarter is awaiting QS agreement on measured rates following a valuation query.
If both blockers are resolved before mid-May, WIP could reduce to approximately £176k — below the March position. If unresolved, the 90-day threshold will be breached on both contracts in the next reporting period, requiring board-level escalation.
02
Ageing Band Overview
0 – 30 days
£108k
27.9%
5 items across 5 contracts. All within normal billing cycle. No action required — standard month-end applications in progress.
31 – 60 days
£124k
32.0%
4 items across 3 contracts. Largest: Cathedral Quarter £54.1k (QS query) and Pennine Pkg C £32.8k (daywork evidence). Both have resolution actions assigned.
61 – 90 days
£93k
24.0%
3 items across 2 contracts. Riverside FM accounts for £68.2k — the Feb application that was rejected and not yet resubmitted. Approaching 90-day threshold.
90+ days
£62k
16.0%
2 items. Riverside FM Jan application £56.4k (format rejected, 94 days) and Cathedral Quarter legacy item £5.6k (103 days). Both require immediate escalation.
03
WIP Register 14 items
| # | Contract | Description | Value | Age | Root cause | Owner | Target date | Status |
|---|---|---|---|---|---|---|---|---|
| 90+ days — £62,000 — 2 items | ||||||||
| 01 | Riverside FMMitie · FM Contract Yr 2 | January monthly application — rejected by Mitie due to application format not matching their updated template requirements | 56,400 | 94d | Format | KHK. Hughes | 02 May ⚠ | Overdue |
| 02 | Cathedral QuarterISG · Fitout | Legacy valuation adjustment — residual from Val 2, QS has not responded to final query | 5,600 | 103d | QS delay | JPJ. Palmer | 28 Apr ⚠ | Overdue |
| 61 – 90 days — £93,000 — 3 items | ||||||||
| 03 | Riverside FMMitie · FM Contract Yr 2 | February monthly application — also rejected on same format grounds. Resubmission combined with Jan app. | 68,200 | 63d | Format | KHK. Hughes | 02 May | In progress |
| 04 | Cathedral QuarterISG · Fitout | Valuation 3 measured works — client QS queried 3 rates, response sent 18 Mar, awaiting confirmation | 18,400 | 72d | QS delay | JPJ. Palmer | 09 May | In progress |
| 05 | Docklands Phase 2Lendlease · Construction | Retention release — snagging works 90% complete, final sign-off pending joint inspection | 6,400 | 66d | Sign-off | MTM. Taylor | 16 May | In progress |
| 31 – 60 days — £124,000 — 4 items | ||||||||
| 06 | Cathedral Quarter | Valuation 4 measured works — QS query on 5 measured rates, response sent 24 Apr | 54,100 | 38d | QS delay | JPJ. Palmer | 12 May | In progress |
| 07 | Pennine Pkg C | Application 3 — 4 missing daywork sheets preventing submission of measured element | 32,800 | 44d | Evidence | RBR. Barker | 09 May | In progress |
| 08 | Docklands Phase 2 | Valuation 8 — Lendlease QS not available for site measure until 12 May | 22,100 | 36d | QS avail. | MTM. Taylor | 19 May | Waiting |
| 09 | Pennine Pkg C | Variation claim — submitted but not yet included in application (£18k, awaiting Kier response) | 15,000 | 32d | Variation | JPJ. Palmer | 23 May | Waiting |
| 0 – 30 days — £108,000 — 5 items | ||||||||
| 10 | Whitmore Tower | April application in preparation — on standard monthly cycle | 18,400 | 8d | Normal | KHK. Hughes | 07 May | On track |
| 11 | Mersey Gateway | April application in preparation — includes re-measure adjustment if approved | 31,800 | 12d | Normal | CDC. Dean | 09 May | On track |
| 12 | Alderley Park | Valuation 3 submitted — expected agreement w/c 5 May | 14,200 | 18d | Normal | JPJ. Palmer | 12 May | On track |
| 13 | Trafford Retail | Valuation 2 — Mace QS site visit booked 8 May for measure | 17,300 | 22d | QS avail. | RBR. Barker | 16 May | On track |
| 14 | Docklands Phase 2 | April application — final measured section submitted, awaiting inclusion in cert | 26,300 | 6d | Normal | MTM. Taylor | 14 May | On track |
| Portfolio Total | 387,000 | 52d avg | ||||||
04
Root Cause Analysis
WIP categorised by the underlying root cause preventing invoicing or certification. Addressing the top two categories would resolve £196k (51%) of total WIP.
Root cause
Distribution
Value
%
Items
Application format
£124,600
32.2%
2
QS delay / query
£78,100
20.2%
3
Normal billing cycle
£90,700
23.4%
4
Missing evidence
£47,800
12.4%
2
Client QS availability
£39,400
10.2%
2
Sign-off / Variation
£6,400
1.7%
1
05
Contract × Ageing Heatmap
WIP value (£'000s) by contract and ageing band. Darker shading indicates higher concentration risk.
| Contract | 0–30d | 31–60d | 61–90d | 90+d | Total | % of portfolio |
|---|---|---|---|---|---|---|
| Riverside FM | — | — | 68.2 |
56.4 |
124.6 | 32.2% |
| Cathedral Quarter | — | 54.1 |
18.4 |
5.6 |
78.1 | 20.2% |
| Docklands Phase 2 | 26.3 |
22.1 |
6.4 |
— | 54.8 | 14.2% |
| Pennine Pkg C | — | 47.8 |
— | — | 47.8 | 12.4% |
| Mersey Gateway | 31.8 |
— | — | — | 31.8 | 8.2% |
| Whitmore Tower | 18.4 |
— | — | — | 18.4 | 4.8% |
| Trafford Retail | 17.3 |
— | — | — | 17.3 | 4.5% |
| Alderley Park | 14.2 |
— | — | — | 14.2 | 3.7% |
| Total | 108.0 | 124.0 | 93.0 | 62.0 | 387.0 | 100% |
06
Resolution Priorities
Priority 1 · Immediate
Riverside FM — reformat & resubmit
Combine Jan + Feb applications into Mitie's updated format. K. Hughes has the template. Resubmission unlocks £124.6k.
Owner: K. Hughes · Target: 2 May · Value: £124.6k
Priority 2 · This week
Cathedral Quarter — chase QS agreement
Response sent on Val 3 + Val 4. Three rates still queried. Escalate to ISG project manager if no confirmation by 9 May. Value at risk: £78.1k.
Owner: J. Palmer · Target: 9 May · Value: £78.1k
Priority 3 · Process fix
Standardise FM application template
Application format is the single largest root cause at 32.2% of total WIP. Create a standardised template matching all client formats to prevent recurrence.
Owner: K. Hughes · Target: 23 May · Prevention value: £124.6k+
07
Six-Month WIP Trend
Trend observation: WIP has risen every month for six consecutive periods — from £218k in November to £387k in April (+78%). The primary drivers have been Riverside FM format rejections (persisting since January) and Cathedral Quarter QS delays (persisting since February). Without resolution of these two structural blockers, WIP will continue to climb regardless of billing performance on other contracts. Resolving both would reduce WIP to approximately £184k — below the November baseline.