FORTH PORTS LIMITED
Company number: SC134741
Reporting period:
1 January 2026 to 30 June 2026
Report filed on:
30 July 2026
Approved by:
Stuart Wallace
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: 25 days
Total value paid:
- within 30 days: £23,082,279 (73%)
- in 31 to 60 days: £8,132,192 (26%)
- in 61 days or more: £254,343 (< 1%)
Invoices paid:
- within 30 days: 70%
- in 31 to 60 days: 29%
- 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: £3,281,940
- payments due in the reporting period which have not been paid within the agreed period: 12%
- not made in the reporting period due to a dispute: 1%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
45 days
Standard payment terms
It is the Group's policy to agree appropriate terms of payment with suppliers for each transaction or series of transactions, and to abide by those terms based on the timely submission of satisfactory invoices. The Company normally settled trade payables on 45 days terms, however variations to these terms do exist based on agreements with certain suppliers.
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:
Retention clauses are normally, but not limited to, higher value construction contracts. However the use of retention clauses will depend on the construction work being undertaken.
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 release of retention monies will usually be undertaken in conjunction with the supplier. This involves a review of the completed work to identify if any defects have arisen that require to be remedied before the retention will be released.
Is the money released in stages?
Yes:
The release of retention monies will be contract specific, with a usual policy of 50% of the retention released on completion of the contract with the remaining 50% paid after 12 months.
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
100%
Amount retained stated as a percentage of the total construction payments made by this business
3%
Dispute resolution process
The Company is committed to dealing with its suppliers in a fair, honest and professional manner whilst seeking best value for the business. We seek to resolve queries as quickly as possible to everyone's satisfaction prior to payment being made. In the event that a dispute cannot be resolved by our Accounts Payable team, it would escalate in the first instance to the relevant Head of Department to seek a resolution.
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