SELWOOD HOUSING SOCIETY LIMITED
Company number: 04168336
Reporting period:
1 April 2025 to 30 September 2025
Report filed on:
28 October 2025
Approved by:
Samuel Whatley
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: 44 days
Total value paid:
- within 30 days: £32,194,755 (85%)
- in 31 to 60 days: £4,581,333 (12%)
- in 61 days or more: £1,106,936 (3%)
Invoices paid:
- within 30 days: 82%
- in 31 to 60 days: 13%
- in 61 days or more: 5%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £3,572,642
- payments due in the reporting period which have not been paid within the agreed period: 11%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
30 days
Standard payment terms
Selwood Housing’s standard contractual length of time for payment of invoices is 30 days
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
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Retention clauses
How does this business use retention clauses?
All construction contracts include retention clauses.
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?
Yes:
Clauses are all fair and equitable
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
When the employers agent certifies the end of defects work to be completed and the contract is complied with then we release the retention. But each contract varies.
Is the money released in stages?
Yes:
Based on the build programme
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
0%
Dispute resolution process
If the dispute relates to whether the goods or services that have been invoiced were actually provided the Selwood Housing contract manager will resolve this with the relevant manager at the supplier. If the Selwood Housing contract manager confirms the goods or services have been received Selwood Housing’s team manager will resolve the dispute with the credit controller from the supplier organisation
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