PERMASTEELISA (UK) LIMITED
Company number: 02423388
Reporting period:
1 April 2025 to 30 September 2025
Report filed on:
31 October 2025
Approved by:
John Edward Conboye
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: 39 days
Total value paid:
- within 30 days: £22,074,030 (70%)
- in 31 to 60 days: £7,552,080 (24%)
- in 61 days or more: £1,835,194 (6%)
Invoices paid:
- within 30 days: 56%
- in 31 to 60 days: 25%
- in 61 days or more: 19%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £6,390,498
- payments due in the reporting period which have not been paid within the agreed period: 20%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
Answer not provided
Standard payment terms
Our General Trading Principles require 30 day payment terms, however in practice this may vary depending on contract terms. Generally standard payment terms are between 30 to 42 days (as agreed between parties on each project).
Were there any changes to the standard payment terms in the reporting period?
From time to time there may be a deviation from standard payment terms of 30 days to meet project requirements where there are multiple parties within the contractual chain.
Were suppliers notified or consulted about these changes before they were made?
Suppliers agree to contract terms in relation to each project which clearly specifies the payment terms applicable to those services or that work.
Maximum contractual payment period agreed
119 days
No further comment provided
Any other information about payment terms
In this reporting period, 80% of invoices were paid within 60 days of receipt. However, this covers 94% of the total monetary value of the invoices paid in the period. Further, while 56% of invoices were paid within 30 days, these represented 70% of the total monetary value of invoices paid in the period. Comparing to H2 2025, we have seen a significant improvement in both the percentage of invoices (43% to 32%) and percentage of monetary value (38% to 20%) that are paid outside of terms.
Retention clauses
How does this business use retention clauses?
Retention clauses are used in specific circumstances:
Construction contracts generally will contain retention clauses, in particular contracts we enter with clients on major projects and similarly where we appoint key subcontractors on major projects.
We generally include retention clauses in subcontracts for on-site installation work.
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:
Generally retention clauses we apply will not be more onerous than those we are subject to on the same project, however the specific percentage applied may not in all cases be aligned. There may be minor discrepancies in the rate applied depending on other contractual or risk factors.
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
Generally the retention will be released in two stages – first, upon completion of the works, and second, upon receipt of the Making Good Defects Certificate for the works.
Generally the release will be 50% of the held amount for each stage.
Is the money released in stages?
Yes:
Generally the retention will be released in two stages – first, upon completion of the works, and second, upon receipt of the Making Good Defects Certificate for the works.
Generally the release will be 50% of the held amount for each stage.
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
28%
Amount retained stated as a percentage of the total construction payments made by this business
3%
Dispute resolution process
If a dispute was to arise, in the first instance, we would attempt to resolve the dispute between senior representatives of the parties in a less formal manner. If resolution is not possible there are dispute resolution mechanisms within our contracts which provide routes such as adjudication, mediation or court proceedings.
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.
Yes, this business has signed up to: Fair Payment Code - Build UK
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