NEWS UK & IRELAND LIMITED
Company number: 01893198
Reporting period:
1 July 2025 to 31 December 2025
Report filed on:
29 January 2026
Approved by:
Emma Humphreys
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: 34 days
Total value paid:
- within 30 days: £117,458,215 (56%)
- in 31 to 60 days: £75,945,137 (36%)
- in 61 days or more: £16,726,205 (8%)
Invoices paid:
- within 30 days: 47%
- in 31 to 60 days: 45%
- in 61 days or more: 8%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £48,361,550
- payments due in the reporting period which have not been paid within the agreed period: 30%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
35 days
Standard payment terms
News UK & Ireland Limited shall pay the undisputed valid VAT invoice within 35 days of the end of the month in which a valid invoice is received.
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
News UK & Ireland Limited is the principal contracting and paying company in the News UK Group. The significant majority of suppliers contracting with News UK are required to agree to the News UK & Ireland Limited standard terms and conditions, which include the payment terms to which News UK will adhere. All purchase orders are issued in the name of News UK & Ireland Limited.
There are very few contracts which involve a different News UK entity from News UK & Ireland Limited. Even where such contracts are in force, the responsibility for negotiating and making payments in respect of these companies to third party suppliers rests with News UK & Ireland Limited, and all invoices from suppliers are presented to News UK & Ireland.
We believe that a sole report in respect of the principal News UK paying entity provides the most fair and accurate summary of what payment terms suppliers can expect when contracting with News UK.
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:
We include retention clauses where the works are core complex and therefore there are increased chances of rectification required after practical completion. In the case of lower complex works we will not always include a retention clause.
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: 3%
Does this business apply retention clause practices that are no more onerous than those applied to it on the same project?
No
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
The first retention release (labelled "Retention PC") occurs at practical completion.
The second retention release (labelled "Retention 12m") occurs 12 months after practical completion, which aligns with the expiry of the Rectification Period.
Is the money released in stages?
Yes:
On Practical completion and 12 months from practical completion.
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
0%
Amount retained stated as a percentage of the total construction payments made by this business
3%
Dispute resolution process
The Accounts Payable team will liaise with a vendor directly if there is a query on the invoice. Appropriate business units are also involved if required.
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