WEDGE GROUP GALVANIZING LIMITED
Company number: 00515891
Reporting period:
1 April 2025 to 30 September 2025
Report filed on:
4 November 2025
Approved by:
Jonathan Parsons
Contracts and payments
Do any of this business's construction contracts with its suppliers include retention clauses? No
Payment statistics
Average time taken to pay invoices: 40 days
Total value paid:
- within 30 days: £15,387,980 (49%)
- in 31 to 60 days: £12,489,515 (40%)
- in 61 days or more: £3,559,626 (11%)
Invoices paid:
- within 30 days: 30%
- in 31 to 60 days: 64%
- 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: £8,352,014
- payments due in the reporting period which have not been paid within the agreed period: 19%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
60 days
Standard payment terms
Payment terms are agreed with suppliers as part of the contractual negotiations. Our standard terms provide for payment at the end of the month following the month in which an invoice is dated.
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
During the period, a new financial system was implemented which caused an issue when processing the first month end payments. The system was unable to verify the bank connection, causing a delay of 1 day for around 160 suppliers until this was rectified. If this payment run had been made on time, the late payment percentage would have been reduced to 9%.
Dispute resolution process
The purchasing contact at each location is responsible for promptly advising the supplier regarding any invoice queries and also communicating with the central purchase ledger department, so such invoices can be flagged as disputed. The aim is to resolve disputes at local level, however if this cannot be achieved, then the matter would be escalated within the respective organisation.
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