OVERBURY PLC
Company number: 00836946
Reporting period:
1 January 2026 to 30 June 2026
Report filed on:
10 July 2026
Approved by:
Bobby Ewing
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: 19 days
Total value paid:
- within 30 days: £388,209,000 (50%)
- in 31 to 60 days: £349,527,000 (45%)
- in 61 days or more: £35,425,000 (5%)
Invoices paid:
- within 30 days: 81%
- in 31 to 60 days: 17%
- in 61 days or more: 2%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £31,398,000
- payments due in the reporting period which have not been paid within the agreed period: 4%
- not made in the reporting period due to a dispute: 15%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
60 days
Standard payment terms
Standard payment terms are between 30 and 60 days.
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
The maximum contractual payment period was 60 days, aligned with client-driven terms. These terms have been agreed with individual suppliers.
Any other information about payment terms
Payment terms are not altered according to the size of either the contract or the supplier.
Retention clauses
How does this business use retention clauses?
Retention clauses are used in specific circumstances:
Retention clauses are included only in qualifying construction contracts with suppliers in specific circumstances. Even though the standard payment terms do include retention clauses, preferred subcontractors, temporary works subcontractors and specified framework contracts do not typically have retention applied to them.
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: 3%
Does this business apply retention clause practices that are no more onerous than those applied to it on the same project?
Yes:
Retention is only applied to certain subcontractors, with preferred suppliers, temporary works and specified framework contracts not having any retention applied. This makes sure that the retention clauses are no more onerous than those applied by clients.
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
Where we do hold Subcontract retention, release is generally 50% on certified completion of the Subcontract works (or a specified date in the Sub contract), and then the remainder is released by the specified dates in accordance with the Housing Grants, Construction and Regeneration Act 1996.
Is the money released in stages?
Yes:
Where we do hold Subcontract retention, release is generally 50% on certified completion of the Subcontract works (or a specified date in the Sub contract), and then the remainder is released by the specified dates in accordance with the Housing Grants, Construction and Regeneration Act 1996.
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
26%
Amount retained stated as a percentage of the total construction payments made by this business
1%
Dispute resolution process
A dispute resolution process is included within each subcontract order placed. Should there be a dispute with a supplier or subcontractor, the company’s resolution process is to engage with other party in order to resolve the issue in a timely fashion. Any subcontractors that are not satisfied by this process are able to call upon the dispute resolution process contained within the Construction Act. Given the fast-paced nature of the fit out industry, legal recourse is not the preferred route.
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.
Yes, this business has signed up to: Prompt Payment Code
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.
Yes
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