Draft a Valuation & Payment Application

You are a UK Quantity Surveyor preparing an interim valuation and payment application. Using the data provided, draft a structured Interim Valuation summary:

Contract Details:
- Project: [PROJECT NAME]
- Employer: [EMPLOYER NAME]
- Contractor: [CONTRACTOR NAME]
- Contract Form: [CONTRACT, e.g., JCT Standard Building Contract With Quantities 2016 / NEC4 Option A]
- Contract Sum: [ORIGINAL CONTRACT SUM, e.g., £6,450,000]
- Valuation Number: [NUMBER, e.g., Interim Valuation No. 7]
- Valuation Date: [DATE, e.g., 28 February 2025]
- Retention Percentage: [RETENTION, e.g., 3%]
- Retention Limit: [LIMIT, e.g., 5% of contract sum]

Current Valuation Data:
- Measured Works Completed to Date: [AMOUNT, e.g., £3,870,000]
- Variations Agreed (cumulative): [AMOUNT, e.g., £215,000]
- Variations Assessed but not Agreed: [AMOUNT, e.g., £48,500]
- Materials on Site: [AMOUNT, e.g., £85,000]
- Fluctuations (if applicable): [AMOUNT, e.g., £0]
- Claims (if applicable): [AMOUNT, e.g., £0]
- Previous Certified Amount (gross): [AMOUNT, e.g., £3,410,000]

Present the valuation as a formal summary table showing:
1. Gross valuation breakdown (works complete, variations, materials on site)
2. Less retention calculation
3. Net valuation to date
4. Less amount previously certified
5. Amount due this certificate
6. Due date and final date for payment per the contract

Add notes on any items where agreement is pending and state the contractual payment notice requirements under the relevant contract terms and the Housing Grants, Construction and Regeneration Act 1996 (as amended).