LUBRICANTS UK LIMITED
Company number: 00097216
Reporting period:
1 January 2026 to 30 June 2026
Report filed on:
28 July 2026
Approved by:
Robert Mutchell
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: £65,883,734 (70%)
- in 31 to 60 days: £26,545,497 (28%)
- in 61 days or more: £1,545,509 (2%)
Invoices paid:
- within 30 days: 54%
- in 31 to 60 days: 45%
- 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: £39,359,806
- payments due in the reporting period which have not been paid within the agreed period: 24%
- not made in the reporting period due to a dispute: 4%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
90 days
Standard payment terms
Standard contractual terms for the payment to suppliers are 90 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
90 days
No further comment provided
Any other information about payment terms
Payment statistics disclosed in this report can be affected by a number of
different factors including payments made to other BP group companies
which are included within the data disclosed. Invoices are often reported
as due but not paid within agreed terms because BACS transfers to
suppliers arrive in the supplier’s bank account two business days after
leaving the company’s bank account contract payments due on weekends
or bank holidays are typically paid on the following business day and the
company typically initiates payments in batches on a daily basis; where
this is the case payments will normally be received by the supplier within
a few days of the due date.
Retention clauses
How does this business use retention clauses?
Retention clauses are used in specific circumstances:
Retention is deducted from interim payments as a holdback
mechanism
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
The contract follows the JCT approach of retention release
linked to Practical Completion and expiry of the Rectification
Period. The remaining retention is released after completion of
the defects/rectification process.
Is the money released in stages?
No
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
The Company will notify suppliers of any invoice disputes. The Company
and the supplier will endeavour to resolve all disputes by agreement of
the parties. Once resolved payment will be made in accordance with
agreed terms. If these discussions are unsuccessful then the dispute will
be resolved by reference to arbitration or courts (as specified in the
contract).
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: The 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.
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