CLOSE BROTHERS LIMITED
Company number: 00195626
Reporting period:
1 August 2025 to 31 January 2026
Report filed on:
2 March 2026
Approved by:
Chung Do
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: 20 days
Total value paid:
- within 30 days: £67,376,859 (72%)
- in 31 to 60 days: £18,936,399 (20%)
- in 61 days or more: £7,032,325 (8%)
Invoices paid:
- within 30 days: 84%
- in 31 to 60 days: 12%
- in 61 days or more: 4%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £24,385,264
- 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: 0%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Close Brothers Limited agrees
appropriate terms of payment with
suppliers for each transaction or series of
transactions, and abides by those terms
based on the timely submission of valid
invoices.
In the absence of agreed terms with a
supplier, the Group’s policy is to pay
within 60 days of receipt of a valid
invoice.
The most frequently agreed term with
suppliers is 30 days from receipt of a valid
invoice.
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
Dispute resolution process
Close Brothers Limited and the supplier
will first attempt to resolve any dispute by
referring it for formal discussion between
Close Brothers Limited’s authorised
representative and the supplier (both
acting reasonably and in good faith). If
Close Brothers Limited’s authorised
representative and the supplier are for
any reason unable to resolve the dispute
within 14 days of the date of its referral to
them, the dispute may be referred to
court by either Close Brothers Limited or
the supplier.
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