LOVELL PARTNERSHIPS LIMITED
Company number: 02387333
Reporting period:
1 January 2026 to 30 June 2026
Report filed on:
10 July 2026
Approved by:
Stephen Omolabi
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: 29 days
Total value paid:
- within 30 days: £307,866,053 (66%)
- in 31 to 60 days: £147,026,699 (32%)
- in 61 days or more: £9,400,067 (2%)
Invoices paid:
- within 30 days: 63%
- in 31 to 60 days: 34%
- 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: £34,260,037
- payments due in the reporting period which have not been paid within the agreed period: 8%
- not made in the reporting period due to a dispute: 2%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
63 days
Standard payment terms
Lovell Partnerships Limited’s subcontract payment terms are typically 35, 49 or 63 days. Payment terms to material and other suppliers are typically 30 days or 30 days from the end of the month of the invoice date. We aim to pay all small businesses within 30 days regardless of their payment terms.
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
63 days
The maximum contractual payment period for Lovell Partnerships Limited was 63 days. These terms have been agreed with individual strategic suppliers, although we strive to pay in 49 days or less. There have been no changes to standard terms within the period.
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?
Yes:
Retention clauses in our client contracts vary depending on the client, therefore they do not always exactly mirror the clauses in our supply chain construction contracts but generally they do broadly align.
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
Normally 50% of retention is released on the issuing of the practical completion statement and the remaining 50% is released on issuing of the making good defects certificate
Is the money released in stages?
Yes:
50% on the issuing of the practical completion statement and 50% on issuing of the making good defects certificate.
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
113%
Amount retained stated as a percentage of the total construction payments made by this business
2%
Dispute resolution process
Invoice queries for Lovell Partnerships Limited should be addressed to the buyer who placed the individual order as the first point of contact and the contact details are clearly stated on the Purchase order. In the event that this should not yield a solution please request the issue to be escalated to the Group Procurement 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.
Yes, this business has signed up to: Fair 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