INDEPENDENT FORGINGS & ALLOYS LIMITED
Company number: 04122236
Reporting period:
1 April 2025 to 30 September 2025
Report filed on:
4 December 2025
Approved by:
Karin Jansen
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: 65 days
Total value paid:
- within 30 days: £4,647,147 (17%)
- in 31 to 60 days: £3,858,482 (14%)
- in 61 days or more: £19,329,980 (69%)
Invoices paid:
- within 30 days: 3%
- in 31 to 60 days: 40%
- in 61 days or more: 57%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £2,226,849
- payments due in the reporting period which have not been paid within the agreed period: 8%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
75 days
Standard payment terms
Payment is made in full to an agreed number of days as close to the twice monthly payment cycle as practically possible. Payment is made after goods or services have been provided in full, with the exception where upfront payments are required.
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
75 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Any disputes are managed by the Finance department with the support from relevant functions in the business; e.g. quality control, production. Issues are proactively and collaboratively resolved in a timely manner.
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