INNOVUS BUSINESS SERVICES LIMITED
Company number: 14769299
Reporting period:
1 July 2025 to 31 December 2025
Report filed on:
3 February 2026
Approved by:
Ouda Saleh
Payment statistics
Average time taken to pay invoices: 67 days
Total value paid:
- within 30 days: £259,702 (28%)
- in 31 to 60 days: £430,114 (46%)
- in 61 days or more: £249,238 (27%)
Invoices paid:
- within 30 days: 29%
- in 31 to 60 days: 45%
- in 61 days or more: 26%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £588,404
- payments due in the reporting period which have not been paid within the agreed period: 63%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
Group standard terms are 60 days as default for any new contractors, anything shorter goes through divisional FD approval
Were there any changes to the standard payment terms in the reporting period?
Payment terms alter on a case-by-case basis after being approved by the entities FD, this is a variation to the standard/established terms a contractor is set up with, not a group overall amendment
Were suppliers notified or consulted about these changes before they were made?
No
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Where a dispute would arise regarding works/contracts the users within our business who arranged/are responsible for said contract will liaise with the party to negotiate/resolve the dispute via communications e.g. emails, phone calls, meetings
Once this is done e.g. there is no further dispute, the costs/relating bills are forwarded for payment.
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.
Yes
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