KRESTON REEVES LLP
Company number: OC328775
Reporting period:
1 June 2025 to 30 November 2025
Report filed on:
18 December 2025
Approved by:
Richard Spoffort
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: 24 days
Total value paid:
- within 30 days: £5,175,477 (80%)
- in 31 to 60 days: £589,511 (9%)
- in 61 days or more: £671,396 (10%)
Invoices paid:
- within 30 days: 92%
- in 31 to 60 days: 6%
- in 61 days or more: 2%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £2,134,173
- payments due in the reporting period which have not been paid within the agreed period: 28%
- not made in the reporting period due to a dispute: 1%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
35 days
Standard payment terms
The Firm’s standard terms are to pay suppliers within 30 days of the invoice date, subject to receiving a properly prepared invoice within a reasonable timeframe. A number of suppliers require immediate / shorter payment terms, these are processed consistently with other invoices.
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
35 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Invoices are not paid until they are approved by budget holders. Budget holders are responsible for resolving disputes in a reasonable and 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.
Yes, this business has signed up to: Fair 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