WILLIAM DAVIS LIMITED
Company number: 00468397
Reporting period:
1 June 2025 to 30 November 2025
Report filed on:
23 December 2025
Approved by:
Scott Rush
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: 40 days
Total value paid:
- within 30 days: £24,557,564 (61%)
- in 31 to 60 days: £14,641,043 (36%)
- in 61 days or more: £1,038,505 (3%)
Invoices paid:
- within 30 days: 28%
- in 31 to 60 days: 69%
- in 61 days or more: 3%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £9,026,863
- payments due in the reporting period which have not been paid within the agreed period: 15%
- not made in the reporting period due to a dispute: 3%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
The business has standard payment terms for subcontractors and suppliers. Payments are made on the last working
day of the month following the one in which the invoice/ application is dated.
Subcontractors are required to submit applications and suppliers / consultants are required to submit invoices,
both within 5 days of the invoice/ application document date.
Standard payment terms may be varied as agreed on the order or on the subcontractors/ suppliers/ consultants account.
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
No further comment provided
Retention clauses
How does this business use retention clauses?
Retention clauses are used in specific circumstances:
Certain subcontractor contracts include a retention clause as is standard practice in the industry.
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?
Yes:
As a private housing developer, we do not hold retentions against our private customers. We are main contractors. A nominal retention is held per plot by Affordable Housing providers.
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
On practical completion of the works we release 50% subject to satisfactory completion of the works. The balance of retention is released 24 months later unless varied by the contract.
Is the money released in stages?
Yes:
On practical completion of the works we release 50% subject to satisfactory completion of the works. The balance of retention is released 24 months later unless varied by the 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
100%
Amount retained stated as a percentage of the total construction payments made by this business
2%
Dispute resolution process
Initial queries are dealt with by the Accounts Department who will liase or redirect to the invoice approver for suppliers / consultants and for subcontractors the job surveyor, to resolve any disputes in a fair and timely manner.
(The approver is authorised to settle any disputes)
If the dispute cannot be resolved by the approver in accordance with normal procedures and contract terms, this will be escalated to a 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.
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.
Yes
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