BDO SERVICES LIMITED
Company number: 07020023
Reporting period:
3 January 2026 to 3 July 2026
Report filed on:
29 July 2026
Approved by:
Stuart Collins
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: 27 days
Total value paid:
- within 30 days: £39,631,382 (82%)
- in 31 to 60 days: £5,459,397 (11%)
- in 61 days or more: £3,373,506 (7%)
Invoices paid:
- within 30 days: 89%
- in 31 to 60 days: 8%
- 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: £12,911,527
- payments due in the reporting period which have not been paid within the agreed period: 18%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
30 days
Standard payment terms
30 Days per Standard terms of business which can be found at www.BDO.co.uk. Individual contracts may vary.
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
30 days
No further comment provided
Any other information about payment terms
Invoices should be forwarded to P2P@bdo.co.uk for processing
Retention clauses
How does this business use retention clauses?
All construction contracts include retention clauses.
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?
Yes: 3%
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 standard JCT contract calls for
3% retained from all payments until Practical Completion
Half of this retention is then released at Practical Completion and the remaining half held until the end of the Defects Rectification period (12 months) and the issue of the Certificate of Making Good by the Contract Administrator
Is the money released in stages?
Yes:
The standard JCT contract calls for
3% retained from all payments until Practical Completion
Half of this retention is then released at Practical Completion and the remaining half held until the end of the Defects Rectification period (12 months) and the issue of the Certificate of Making Good by the Contract Administrator
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
3%
Amount retained stated as a percentage of the total construction payments made by this business
3%
Dispute resolution process
Disputes relating to supplier invoices should be communicated to Payments.team@bdo.co.uk
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