HENRY BROTHERS LIMITED
Company number: NI629986
Reporting period:
1 April 2025 to 30 September 2025
Report filed on:
30 October 2025
Approved by:
Allen Reid
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: 33 days
Total value paid:
- within 30 days: £5,626,034 (27%)
- in 31 to 60 days: £14,675,686 (71%)
- in 61 days or more: £422,568 (2%)
Invoices paid:
- within 30 days: 51%
- in 31 to 60 days: 46%
- in 61 days or more: 3%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £1,129,040
- payments due in the reporting period which have not been paid within the agreed period: 5%
- not made in the reporting period due to a dispute: 5%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
Standard payment terms can vary between 0 and 60 days from the invoice date. Payments to suppliers are generally paid within 30 days from the end of month of the supply; and subcontractors generally within 50 days of the invoice date.
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
N/A
Any other information about payment terms
N/A
Retention clauses
How does this business use retention clauses?
Retention clauses are included in standard payment terms.
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: 3%
Does this business apply retention clause practices that are no more onerous than those applied to it on the same project?
Yes:
Our standard approach is that retention clauses applied by Henry Brothers Ltd are no more onerous than those applied to the company on the same project.
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
Release of retentions is in line with normal construction industry practice.
Is the money released in stages?
Yes:
In line with the typical approach in the construction industry, half of the retention held is released upon completion of works and the remainder is released when any defects have been rectified at the end of the defect liability period.
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
65%
Amount retained stated as a percentage of the total construction payments made by this business
2%
Dispute resolution process
Henry Brothers Ltd is committed to resolving disputes in a fair and timely manner. The initial point of contact should be the Accounts Administrator followed by the Financial Controller. In due course mediation, adjudication etc. may be considered.
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