CENTRICA BUSINESS SOLUTIONS UK LIMITED
Company number: 01874716
Reporting period:
1 January 2026 to 30 June 2026
Report filed on:
30 July 2026
Approved by:
Christopher White
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: 42 days
Total value paid:
- within 30 days: £10,954,791 (42%)
- in 31 to 60 days: £13,735,928 (52%)
- in 61 days or more: £1,696,024 (6%)
Invoices paid:
- within 30 days: 26%
- in 31 to 60 days: 71%
- 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: £3,033,966
- payments due in the reporting period which have not been paid within the agreed period: 5%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
28 days
Longest standard payment period
60 days
Standard payment terms
We have standard payment terms of 60 days, however all suppliers categorised as Micro and Small are paid on 30 days terms. Sub-contractor are typically paid with 28 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
60 days
No further comment provided
Any other information about payment terms
To prevent a delay in invoice processing, invoices must be clearly legible, comply with HMRC regulations and should include supplier details, purchase order number invoice number, invoice date and payment instructions, as well as the Centrica point of contact who requested the goods or services. Invoices should be issued electronically to centrica.jewel.live@boxit.co.uk Invoices issued without the above details may not be accepted and may be returned for amendment before being processed.
Some suppliers have been moved to our standard 60 days terms (this excludes all sub-contractors)
Retention clauses
How does this business use retention clauses?
Retention clauses are used in specific circumstances:
Retention clauses are only used where we have negotiated a retention percentage amount prior to the construction contracts being executed. There are some instances where a percentage has not been agreed with a contractor, so a retention amount is not used.
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
Centrica is the client/investor. We employ contractors to undertake construction works on our projects. Generally, we use standard forms of contracts such as FIDIC, where a negotiated percentage of the contract sum is held back from interim payments until the project is completed. Typically, the percentage withheld is 3% or 5% of the contract sum. When the project reaches take over practical completion, half of this retention is then released to the contractor. Upon the expiry of the defects period which can be typically 12 months after practical completion, the remaining retention is then paid to the contractor on the provision that the works are free from defects.
Is the money released in stages?
Yes:
Half of the retention amount is released upon practical completion, and the remaining amount is released at the end of the defects period.
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
3%
Dispute resolution process
Any disputes the suppliers should contact their specific contact Accounts Payable Group Group.accountspayable@centrica.com. The Accounts Payable team will consider the complaint and respond accordingly. Should an escalation occur an email to apescalation@centrica.com should be sent and the AP team will respond.
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