NEVADA CONSTRUCTION LIMITED
Company number: 07376791
Reporting period:
1 April 2025 to 30 September 2025
Report filed on:
24 October 2025
Approved by:
Robert Gerald Tranckle
Contracts and payments
Do any of this business's construction contracts with its suppliers include retention clauses? Yes
Payment statistics
Average time taken to pay invoices: 27 days
Total value paid:
- within 30 days: £34,038,788 (96%)
- in 31 to 60 days: £1,441,433 (4%)
- in 61 days or more: £82,605 (< 1%)
Invoices paid:
- within 30 days: 67%
- in 31 to 60 days: 32%
- in 61 days or more: 1%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £2,014,715
- payments due in the reporting period which have not been paid within the agreed period: 3%
- not made in the reporting period due to a dispute: 1%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Standard payment terms are 30 days from receipt of an approved invoice which is detailed in all subcontract orders. A small number of trade suppliers offer longer terms than this on credit accounts however this is relatively rare.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Retention clauses
How does this business use retention clauses?
Retention clauses are used in specific circumstances:
Where a client retains funds from us as the main contractor, we apply an equivalent retention (typically 5%) to the subcontractors on that project.
Does this business only use retention clauses in construction contracts above a specific contract sum?
No
Does this business use a standard percentage rate in retention clauses?
Yes: 5%
Does this business apply retention clause practices that are no more onerous than those applied to it on the same project?
Yes:
Retention is only held from subcontractors on projects where a retention is also being held from us as the main contractor. The retention rate applied to the sub contractor would be the same as that being applied to us as the main contractor (Typically 5%).
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
Where retention has been held, the subcontractor will need to raise an invoice for a retention release and send this to the relevant surveyor who will issue a payment certificate. Invoices will need to be raised in line with the staged releases detailed in the subcontract order. The invoice and the payment certificate can then be sent to the accounts team who arrange payment.
Is the money released in stages?
Yes:
Stage 1 - On practical completion of the project 50% of any retention held is released.
Stage 2 - Once the defects period has elapsed the remaining 50% is released.
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
86%
Amount retained stated as a percentage of the total construction payments made by this business
3%
Dispute resolution process
Disputes are handled by the quantity surveyor overseeing the project. Subcontractors should liaise with the surveyor to find a resolution to any dispute. We aim to resolve any disputes in a timely manner. Where no resolution can be found with the surveyor, the subcontractor can raise the issue with the accounts department who will raise this with the directors.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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.
No
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.
No
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?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No