JSM GROUP SERVICES LIMITED
Company number: 03591105
Reporting period:
1 January 2026 to 30 June 2026
Report filed on:
24 July 2026
Approved by:
Michael Booth
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: 32 days
Total value paid:
- within 30 days: £25,333,716 (51%)
- in 31 to 60 days: £18,603,619 (37%)
- in 61 days or more: £5,952,862 (12%)
Invoices paid:
- within 30 days: 47%
- in 31 to 60 days: 48%
- in 61 days or more: 5%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £22,908,669
- payments due in the reporting period which have not been paid within the agreed period: 29%
- not made in the reporting period due to a dispute: 9%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
45 days
Standard payment terms
Payment terms are agreed with suppliers and subcontractors as part of contract negotiations. Terms vary from 7 days from invoice date to EOM + 45 days from invoice date.
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 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
Prior to the retention due date, defects on the project are reviewed, any items relating to a subcontractor will be communicated and rectification plan agreed. Once any defects are closed out, the subcontractor will apply for the retention release which will be reviewed and approved for payment.
Is the money released in stages?
Yes:
This is subject to size of retention held and amount of defect works outstanding, as a gesture of goodwill we will on some occasions release part retention to aid cashflow.
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
14%
Amount retained stated as a percentage of the total construction payments made by this business
2%
Dispute resolution process
At JSM Group Services Limited, we recognise the importance of maintaining strong and transparent relationships with our supply chain. Any disputes or concerns relating to qualifying contracts are managed through our internal Commercial and Finance teams.
Suppliers are encouraged to raise any payment queries or contractual concerns with their designated operational contact in the first instance. Where required, issues can be escalated to the relevant Commercial Manager or to our Finance team.
Upon receiving a dispute, we aim to acknowledge it within 3 to 5 working days. We work collaboratively with all parties to resolve matters promptly.
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