WESTON HOMES PLC
Company number: 02133568
Reporting period:
1 August 2025 to 31 January 2026
Report filed on:
3 March 2026
Approved by:
STUART RICHARD THOMAS
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: 54 days
Total value paid:
- within 30 days: £7,468,699 (16%)
- in 31 to 60 days: £20,298,777 (44%)
- in 61 days or more: £18,550,120 (40%)
Invoices paid:
- within 30 days: 20%
- in 31 to 60 days: 46%
- in 61 days or more: 34%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £33,724,907
- payments due in the reporting period which have not been paid within the agreed period: 64%
- not made in the reporting period due to a dispute: 5%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
90 days
Standard payment terms
The standard terms for payment of a subcontractor self-billing invoice is payment at the end of the month following the first Tuesday of the preceding month. This is on the basis that the subcontractor has presented the invoice for payment at the correct time and that all necessary authorisations have been obtained. The standard payment terms for suppliers is end of month following the invoice date.
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
90 days
N/A
Any other information about payment terms
N/A
Retention clauses
How does this business use retention clauses?
All construction contracts include retention clauses.
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?
No
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
50% of any monies retained are released upon the work being completed by the subcontractor, with the balance being released after a further 6 months.
Is the money released in stages?
Yes:
50% of any monies retained are released upon the work being completed by the subcontractor, with the balance being released after a further 6 months.
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
4%
Dispute resolution process
Initial enquiries or disputes with subcontractors are dealt with by the site manager and/or commercial department. This can be escalated to a Director if necessary. For suppliers, the first point of contact is the Purchase Ledger Department. This department will liaise with the invoice approver to ascertain why an invoice has not been approved for payment. If the dispute cannot be resolved, it 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.
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