PARK GARAGE GROUP PLC
Company number: 03497029
Reporting period:
1 January 2026 to 30 June 2026
Report filed on:
31 July 2026
Approved by:
Sunil Tandon
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: £93,196,322 (53%)
- in 31 to 60 days: £80,857,189 (46%)
- in 61 days or more: £2,294,421 (1%)
Invoices paid:
- within 30 days: 53%
- in 31 to 60 days: 46%
- 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: £0
- payments due in the reporting period which have not been paid within the agreed period: 0%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
47 days
Standard payment terms
Payment terms are agreed upon with each supplier based on contractual agreements. The standard payment term is 30 days from the invoice date. However, shorter payment terms, such as 7 days or same-day payment, may be applied for small or critical suppliers where required. Major suppliers typically operate under predefined payment agreements, with payment periods extending up to 47 days, and payments are generally made through direct debit for 47 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
47 days
No further comment provided
Any other information about payment terms
No further comment provided
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: 5%
Does this business apply retention clause practices that are no more onerous than those applied to it on the same project?
Yes:
In line with our contract policy
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
The project is managed by a designated third party company, who sits between us and the contractor. The management company would ensure that the project is completed to the standard as set out in the agreed works. If the standard of the work has not met this agreed criteria, money will be either retained or deducted, in accordance with the agreement.
Is the money released in stages?
Yes:
This is set out in the agreed contract between both parties.
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
Any discrepancies or disputes identified during invoice processing are addressed promptly upon receipt. The occurrence of such issues is minimized using a Purchase Order (PO) system, which ensures that goods, services, and job references are accurately matched with the corresponding invoices. If any discrepancies are detected, suppliers are contacted immediately, and the issues are resolved efficiently to ensure timely payment and maintain strong supplier relationships.
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