THE WORKS STORES LIMITED
Company number: 06557400
Reporting period:
5 May 2025 to 2 November 2025
Report filed on:
2 December 2025
Approved by:
Rosie Fordham
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: 39 days
Total value paid:
- within 30 days: £33,144,341 (40%)
- in 31 to 60 days: £31,360,785 (38%)
- in 61 days or more: £19,088,842 (23%)
Invoices paid:
- within 30 days: 53%
- in 31 to 60 days: 31%
- in 61 days or more: 16%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £22,577,452
- payments due in the reporting period which have not been paid within the agreed period: 21%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
90 days
Standard payment terms
We don't have standard payment terms for our suppliers.
31% of our stock suppliers are on 30 days from invoice or less, 15% 30 days end of month ("EOM"), 24% 60 days & 26% 60 days EOM.
Largest stock suppliers are on 90 EOM.
25% of expense suppliers are on 14 days or less from invoice, 59% 14 - 30 days from invoice and 14% 30 days EOM. 1% 60 days & 1% 60 days EOM. Largest expense suppliers are on 90EOM
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
90 days
No further comment provided
Any other information about payment terms
In reference to the question regarding disputes, we do not have the function to track invoices being disputed. Where a query arises with the supplier this would be queried through email and the invoice paid once settled.
In terms of our reporting, this would show as a late payment should this length of time take us beyond the agreed terms.
Dispute resolution process
Complaints relating to payments can be directed to the AP team at: accounts@theworks.co.uk or via phone. Complaints will initially be addressed by the Purchase Ledger Clerk and escalated to the Purchase Ledger Supervisor or Financial Processing & Controls Manager as necessary.
Suppliers will have buying contacts within the business and can also escalate any payment issues through that route to the Head of Buying or Chief Commercial Officer.
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