FLADGATE LLP
Company number: OC334334
Reporting period:
1 October 2025 to 31 March 2026
Report filed on:
30 April 2026
Approved by:
Grant Gordon
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: 21 days
Total value paid:
- within 30 days: £929,832 (10%)
- in 31 to 60 days: £8,534,643 (89%)
- in 61 days or more: £75,655 (< 1%)
Invoices paid:
- within 30 days: 73%
- in 31 to 60 days: 23%
- 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: £1,000,476
- payments due in the reporting period which have not been paid within the agreed period: 41%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
Answer not provided
Standard payment terms
Our standard payment terms are as follows: - Goods and services will only be paid for after delivery, and after any issues or queries have been resolved. Except where different payment terms have been agreed in writing with a supplier, authorised invoices will be paid on the supplier run closest to 30 days after the invoice date. Payment of Counsel and other professional fees which are incurred as a part of the services offered to our clients, fall outside the remit of our Standard Payment Terms and shall be settled on a "Pay when Paid" basis in accordance with the SRA Accounts Rules.
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
30 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:
We don't normally have retention clauses. There was one exception related to the refurbishment of the floors where 10% was held back due to the large volume of work and high contract value.
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?
No
Does this business apply retention clause practices that are no more onerous than those applied to it on the same project?
Yes:
We do not have retention clauses for standard contract we applied an one-off percentage to a construction contract due to the large volume of work involved and high contract value.
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
COO and Head of Facilities approve the payment in relation to the retention.
Is the money released in stages?
No
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
0%
Dispute resolution process
Any payment disputes shall in the first instance be referred to the member of staff managing the contact. If the parties are unable to reach a resolution, it may be referred to the relevant department head and , where necessary, the firm's Director of Finance, COO or General Counsel. We aim to resolve disputes within 30 days (or longer as agreed by the parties), from the date the dispute was raised.
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