AFFINITY WATER LIMITED
Company number: 02546950
Reporting period:
1 April 2025 to 30 September 2025
Report filed on:
31 October 2025
Approved by:
Adam Stephens
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: 26 days
Total value paid:
- within 30 days: £168,246,341 (71%)
- in 31 to 60 days: £61,899,047 (26%)
- in 61 days or more: £5,970,034 (3%)
Invoices paid:
- within 30 days: 69%
- in 31 to 60 days: 30%
- 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: £71,772,931
- payments due in the reporting period which have not been paid within the agreed period: 18%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
Shortest standard payment period
0 days (upon receipt/immediate)
Longest standard payment period
60 days End of Month
Standard payment terms
30th of month following
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
Maximum contractual payment period agreed
60 days End of Month
Any other information about payment terms
Any other information about payment terms
1 supplier’s standard terms is 60 days after the end of the month
Retention clauses
How does this business use retention clauses?
Retention clauses are used in specific circumstances:
Retentions clauses are included in certain contracts which are based on a percentage retention of work to date.
1) The value of the contract and duration of the period the works are to last.
2) To protect the business from Highways Authority defects which have a warranty period of 2 years.
3) To protect the business in case the contractor ceases to exist, and Highways Authority or potential customer defects arise.
4) It is a financial safeguard designed to ensure quality, accountability, and completion of work.
5) It protects the business from financial loss if the contractor fails to meet obligations, goes bankrupt, or abandons the 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?
No
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
Retentions clauses are included in certain contracts which are based on a percentage retention of work to date.
Retentions are released upon receipt of Defects Certificate.
Is the money released in stages?
Yes:
This is contract dependent, with normal practise being to release 50% on practical completion at the end of the contract and the remaining after a 2 year defect 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
0%
Amount retained stated as a percentage of the total construction payments made by this business
5%
Dispute resolution process
If there is a dispute on an invoice, the Accounts Payable team will contact the person who raised the Purchase Order and the Supplier and liaise with them to try and resolve the dispute. If Accounts Payable cannot resolve it, the invoice will be returned to the Supplier as unpaid and the matter will be referred to the Category Manager for their assistance. A meeting then will be set up between the Supplier, Category Manager and Accounts Payable. Once the dispute is settled, the invoice will be paid in the next available payment run.
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