STORY HOMES LIMITED
Company number: 02275441
Reporting period:
1 April 2025 to 30 September 2025
Report filed on:
24 October 2025
Approved by:
COLIN WOOD
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: 38 days
Total value paid:
- within 30 days: £52,283,480 (52%)
- in 31 to 60 days: £45,930,973 (45%)
- in 61 days or more: £3,211,868 (3%)
Invoices paid:
- within 30 days: 35%
- in 31 to 60 days: 58%
- in 61 days or more: 7%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £3,211,868
- payments due in the reporting period which have not been paid within the agreed period: 7%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
45 days
Standard payment terms
Materials and overheads: Standard payment terms are 30 days following the month that a VAT invoice is received and approved. Subcontractors: Subcontractors are required to make applications for payment on a monthly basis. Provided the application for payment is received ahead of the deadline, payment will be made 14 days, 30 days or 45 days from the end of the month that the application is received and approved.
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
45 days
No further comment provided
Any other information about payment terms
Invoices falling due between payment dates will, by definition, be overdue when paid. Suppliers are aware of this practice although it is not written into formal agreements. In total, 96% of payments were made within 75 days of receipt of invoice or application.
Retention clauses
How does this business use retention clauses?
Retention clauses are used in specific circumstances:
Retention clauses are agreed upon appointment of suppliers on specific contracts depending on type and nature of work undertaken by the supplier.
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?
No
Does this business apply retention clause practices that are no more onerous than those applied to it on the same project?
No
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
The supplier must submit a final account once their work on a site is complete. This is reviewed by the business, and any discrepancies are discussed with the supplier. Once the final account is agreed, retentions are released in two stages: one on agreement and the other at the end of a two-year defect liability period.
Is the money released in stages?
Yes:
50% of the retention is released once the suppliers work on a site is complete and 50% is released after the two- year defect liability period has passed.
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
100%
Amount retained stated as a percentage of the total construction payments made by this business
2%
Dispute resolution process
Disputes are dealt with by the regional and/or group finance team(s).
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