KNIGHTS BROWN CONSTRUCTION LTD
Company number: 02081940
Reporting period:
1 April 2025 to 30 September 2025
Report filed on:
31 October 2025
Approved by:
Philip Crozier
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: £32,674,055 (64%)
- in 31 to 60 days: £16,106,355 (31%)
- in 61 days or more: £2,373,658 (5%)
Invoices paid:
- within 30 days: 69%
- in 31 to 60 days: 25%
- in 61 days or more: 6%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £5,777,873
- 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: 49%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
60 days
Standard payment terms
We have various payment terms. The most common payment terms are 30 days from end of month.
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
The maximum contractual payment period is 60 days from end of month.
Any other information about payment terms
No further comment provided
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: 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
Retention is typically released in two stages: at completion of their works and at the end of the defects period of the main contract.
Is the money released in stages?
Yes:
At completion of their works and at the end of the defects period of the main contract.
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
85%
Amount retained stated as a percentage of the total construction payments made by this business
4%
Dispute resolution process
To be approved for payment, invoices must quote a valid order number and have been receipted (goods receipt note or certification). Where an invoice does not quote a valid order number this is queried with the supplier. Where the invoice includes items or charges not on the order, or not receipted, this is queried with the supplier and the person who raised the order. Disputes are escalated to the Accounts Payable Manager or Commercial Finance Manager and then if not resolved to the Finance Director.
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: Prompt Payment Code
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