BANCON HOMES LIMITED
Company number: SC118706
Reporting period:
1 April 2025 to 30 September 2025
Report filed on:
30 October 2025
Approved by:
James Adamson
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: 34 days
Total value paid:
- within 30 days: £22,528,971 (69%)
- in 31 to 60 days: £10,160,034 (31%)
- in 61 days or more: £148,241 (< 1%)
Invoices paid:
- within 30 days: 45%
- in 31 to 60 days: 51%
- in 61 days or more: 4%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £2,199,316
- payments due in the reporting period which have not been paid within the agreed period: 13%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
The payment terms adopted are for invoices to be settled in the end of month payment run following the month of the invoice. E.g. April invoice will be paid in the May end of month payment run which is paid to the supplier at the start of June. Alternative payment arrangement can be agreed between the supplier and the company but do not generally exceed 60 days.
A payment timetable is agreed for all subcontractors with the subcontractor stating the date by which applications should be received by the company and the payment date agreed, generally these are all 30 or 45 day payment terms.
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:
Retention clauses do not apply to certain subcontractors
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?
No
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
Retentions are released in line with the contract e.g. part on completion of the project and part at end of defects period of the project.
Is the money released in stages?
Yes:
Part on completion of the project and part at end of defects period of the project.
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
5%
Dispute resolution process
Disputed invoices will be communicated with the supplier through the appropriate department or individual involved. This will be investigated and resolved by the appropriate department and resolved in a timely manner. In respect of subcontractors, our commercial team will resolve the dispute directly with the subcontractor.
Complaints from suppliers or subcontractors about payment are dealt with on an individual basis, these can be escalated to the finance director or managing director as appropriate.
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