WATKIN JONES & SON LIMITED
Company number: 02539870
Reporting period:
1 October 2025 to 31 March 2026
Report filed on:
30 April 2026
Approved by:
Simon Jones
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: 46 days
Total value paid:
- within 30 days: £48,401,934 (54%)
- in 31 to 60 days: £32,310,516 (36%)
- in 61 days or more: £9,485,728 (11%)
Invoices paid:
- within 30 days: 32%
- in 31 to 60 days: 53%
- in 61 days or more: 15%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £6,434,716
- payments due in the reporting period which have not been paid within the agreed period: 10%
- not made in the reporting period due to a dispute: 2%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
65 days
Standard payment terms
The standard terms for suppliers are payment at the end of the month following date of invoice. The standard terms for sub-contractors are 60 days from receipt of 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
65 days
No further comment provided
Any other information about payment terms
No further comment provided
Retention clauses
How does this business use retention clauses?
All construction contracts include retention clauses, and retention clauses are included in standard payment terms.
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
Retention is released 50% on practical completion of works, and 50% following completion of maintenance period and agreement of final account, subject to any deductions required.
Is the money released in stages?
Yes:
To the extent that no deductions apply:
50% on practical completion of works; and
50% following completion of maintenance period and agreement of final account.
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
69%
Amount retained stated as a percentage of the total construction payments made by this business
15%
Dispute resolution process
Suppliers - We have an accounts team who process and query invoices in a timely manner. Where required, disputes can be escalated to senior management.
Sub-contractors - The accounts team deal with daily processing and queries, but it's the responsibility of the contract quantity surveyor to issue payment notices, and pay less notices to each sub-contractor. If they are unable to resolve a dispute the sub-contract adjudication process is followed.
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