F.W. THORPE PUBLIC LIMITED COMPANY
Company number: 00317886
Reporting period:
1 January 2026 to 30 June 2026
Report filed on:
24 July 2026
Approved by:
Craig Muncaster
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: £1,828,297 (8%)
- in 31 to 60 days: £17,414,088 (78%)
- in 61 days or more: £3,209,962 (14%)
Invoices paid:
- within 30 days: 9%
- in 31 to 60 days: 77%
- in 61 days or more: 14%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £20,029,582
- payments due in the reporting period which have not been paid within the agreed period: 90%
- not made in the reporting period due to a dispute: 5%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
Answer not provided
Standard payment terms
the business’ standard payment terms are within 60 days of the date of a correctly rendered 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
90 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:
These are used in rare circumstances where a customer has placed a supply and install contract which we have reflected in our contracts with subcontracting installers
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:
our policy is to apply the same retention percentage on our suppliers as is placed on us
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
The process for releasing money we have deducted or remained under a retention clause is to use the receipt of a retention payment from our customer as a trigger to release the retention payment to any impacted supplier
Is the money released in stages?
Yes:
They mirror the contract we have with our customers, and therefore vary on a case by case basis, but typically half the retention on completion and half after a specified 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
0%
Amount retained stated as a percentage of the total construction payments made by this business
0%
Dispute resolution process
Any disputes are resolved by negotiation between the parties concerned to arrive at a mutually acceptable conclusion. Initially this will be between the people dealing with the goods or service in dispute and escalated upwards, ultimately to Directors of both parties if no resolution has been reached
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