Every pound of delivered work, and how long it has waited
Work in progress by contract and age, with the £387k aged balance needing valuation and billing progression. What is stuck, where it sits, and the proposed action order; collection remains a separate step.
- Client
- Meridian M&E Ltd
- Portfolio
- 8 contracts · £14.2m
- Reference
- MER-WIP-P7
- Period
- April 2026 · Month 7
- Prepared by
- BuiltAI Intelligence Ltd
- Status
- £387k aged
Illustrative example: fictional project and parties.
£1.84m held, £340k over the £1.5m target
WIP is running above target this month, and £387k of it has aged past 60 days. Three priority contracts hold £339k of that balance, with £48k on other named contracts. Progressing valuation and billing is a priority; these balances are not evidence of cash receipt.
Kingsferry Crossing holds £480k of WIP against a slow valuation cycle. Its March and April work is a valuation priority, but the portfolio's position against the £1.5m target also depends on other WIP movements. Valuation and certification do not prove payment.
Work in progress by contract
Delivered work not yet in a valuation, by contract, with the amount aged over 60 days. The three priority contracts hold £339k of aged WIP; the other named contracts hold £48k.
| Ref | Contract | WIP | Aged >60d | Status |
|---|---|---|---|---|
| MERS-G | Kingsferry Crossing | £480k | £186k | Action |
| BLUE-T | Bluewater Tower | £178k | £18k | Current |
| WHIT-T | Whitmore Tower | £142k | £9k | Current |
| RIVR-FM | Riverside FM | £124.8k | £93k | Watch |
| NRTH-G | Northgate Cat-B | £118k | £12k | Current |
| CRES-2 | Crestfield Phase 2 | £102k | £0 | Current |
| DOCK-2 | Docklands Phase 2 | £96k | £9k | Current |
| CATH-Q | Cathedral Quarter | £86k | £60k | Watch |
| +12 | Smaller and closing works | £513.2k | £0 | Current |
| Portfolio | £1.84m | £387k | 8 contracts | |
The eight named WIP balances total £1,326.8k; a further £513.2k of smaller and closing works is included in the reported £1.84m total. The scope of the “+12” row requires confirmation.
The ageing profile
WIP by age band. Anything past 60 days is treated as aged and carries a recovery action; the >90 day balance is escalated to the commercial lead.
| Age band | WIP | Share | Treatment |
|---|---|---|---|
| 0 to 30 days | £1,201k | 65% | Current, in the next valuation |
| 31 to 60 days | £252k | 14% | Monitored |
| 61 to 90 days | £238k | 13% | Recovery action |
| Over 90 days | £149k | 8% | Escalated |
| Total WIP | £1.84m | 100% | £387k aged >60d |
Seek valuation and certification of Kingsferry Crossing's March and April work to progress £186k of aged WIP, and progress the Cathedral Quarter and Riverside FM valuations for a further £153k. Clearing the full £387k would leave £1.453m, below the £1.5m target, if no other WIP movement occurs; no cash collection is demonstrated.
The valuation and billing progression plan
The proposed order for progressing aged WIP through valuation, certification and billing. Kingsferry Crossing goes first as the largest named aged balance. The dates below are proposed plan dates, not guaranteed billing or payment.
| Step | Action | Aged WIP to progress | By |
|---|---|---|---|
| 1 | Value and certify Kingsferry Crossing's March and April work | £186k | May, wk 2 |
| 2 | Progress the Riverside FM valuation | £93k | May, wk 3 |
| 3 | Progress the Cathedral Quarter valuation | £60k | May, wk 3 |
| 4 | Clear remaining aged balances on Bluewater, Whitmore, Northgate and Docklands | £48k | May, wk 4 |
| Aged WIP to progress | £387k | End May | |
Progressing the £387k aged WIP is planned for the end of May. Clearing it would leave £1.453m, below the £1.5m target, if no other WIP movement occurs. Certification, invoice issue and payment remain separate steps.
The £601k invoice-blocker analysis comprises the same £387k aged WIP and £214k completed-not-invoiced exposure; it is not a third additional balance. Resolution supports valuation and billing, subject to certification, invoice issue and payment. These registers are non-additive, and clearing a blocker does not prove collection.