SEDDON CONSTRUCTION LIMITED
Company number: 03578140
Reporting period:
1 January 2026 to 30 June 2026
Report filed on:
24 July 2026
Approved by:
Christopher Wilcox
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: 31 days
Total value paid:
- within 30 days: £39,109,977 (62%)
- in 31 to 60 days: £23,113,557 (37%)
- in 61 days or more: £911,617 (1%)
Invoices paid:
- within 30 days: 63%
- in 31 to 60 days: 36%
- in 61 days or more: 1%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £6,414,285
- 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: 0%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
60 days
Standard payment terms
Supplier payment terms are generally 60 days from invoice date although in many cases the agreed terms are shorter.
Subcontractors are paid 35 days after the payment valuation is received. In some cases, subcontractors are paid weekly as standard.
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
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:
Generally, we will use retention clauses for subcontracts when the main contract that we are working on also includes a retention clause.
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:
Generally, the retention % that we apply to subcontracts will mirror the retention % that we will have deducted from us on the main contract.
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 in line with the agreed terms and conditions of the subcontract.
Generally, 50% of the retention will be released upon completion of the works.
The other 50% is released on the date set out in the subcontract, which is usually 6 months following the expiry of the rectification period.
Is the money released in stages?
Yes:
As described in the above section.
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
66%
Amount retained stated as a percentage of the total construction payments made by this business
2%
Dispute resolution process
Any disputes or inconsistencies will initially be addressed by the project surveyor (for subcontractor payments) or a purchase ledger assistant (for supplier payments). The majority of these matters are resolved such that the payment can be made within pre-agreed terms.
If a resolution cannot be found through this process, an escalation process exists through line management and ultimately Directors to resolve and mediate where possible.
Should this process not achieve a resolution then, in very rare circumstances, contractual dispute resolution processes are adopted.
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.
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