HERON BROS. LIMITED
Company number: NI016051
Reporting period:
1 September 2025 to 28 February 2026
Report filed on:
28 June 2026
Approved by:
Neil Bradley
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: 27 days
Total value paid:
- within 30 days: £32,969,731 (83%)
- in 31 to 60 days: £5,560,139 (14%)
- in 61 days or more: £1,065,223 (3%)
Invoices paid:
- within 30 days: 81%
- in 31 to 60 days: 16%
- in 61 days or more: 3%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £1,507,963
- payments due in the reporting period which have not been paid within the agreed period: 6%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
60 days
Standard payment terms
Contract payment terms are agreed as part of individual contract negotiations. Payment terms are generally 45 days or 10 days from end of month.
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
60 days end of month.
Any other information about payment terms
No further comment provided
Retention clauses
How does this business use retention clauses?
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?
No
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
Retentions are released to subcontractors based on their applications for payment, in line with the agreed subcontract.
Is the money released in stages?
Yes:
Generally 50% is released at completion of the main contract works, with the final 50% being released at the end of the defect liability/maintenance period.
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
49%
Amount retained stated as a percentage of the total construction payments made by this business
3%
Dispute resolution process
The company has a dispute resolution policy which involves direct communication between our accounts and surveying departments and our suppliers/supply chain, to establish the facts about the dispute. If resolution is not reached it is escalated to the Senior Management and Directors.
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