AVOVE LIMITED
Company number: 02578069
Reporting period:
1 January 2026 to 30 June 2026
Report filed on:
31 July 2026
Approved by:
Darren Jones
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: 22 days
Total value paid:
- within 30 days: £5,378,339,946 (2%)
- in 31 to 60 days: £240,120,146,721 (98%)
- in 61 days or more: £365,439,370 (< 1%)
Invoices paid:
- within 30 days: 87%
- in 31 to 60 days: 7%
- in 61 days or more: 6%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £1,464,128,807
- payments due in the reporting period which have not been paid within the agreed period: 4%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
60 days
Standard payment terms
Avove Limited operates a range of standard payment terms, which vary depending on the product type, service provided, business unit, and client requirements. A summary of the current arrangements is outlined below:
- Material suppliers: Payment terms typically range from 30 to 60 days.
- Service suppliers: Payments are made within 30 days of invoice receipt.
- Utilities subcontractors: Payment terms vary in line with client requirements, generally ranging from 14 to 45 days from invoice receipt.
- Immediate payments: In certain circumstances, immediate payment can be facilitated via Procurement Card (PCard) where business needs require.
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
Typically, our standard contract payment terms are 60 days unless negotiated otherwise.
Any other information about payment terms
none
Retention clauses
How does this business use retention clauses?
Retention clauses are included in standard payment terms.
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:
default policy is to mirror client contracts, deviation by negotiation.
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
50% on completion and 50% on completion of defects period
Is the money released in stages?
Yes:
as above
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
805%
Amount retained stated as a percentage of the total construction payments made by this business
2%
Dispute resolution process
We engage in progressive and constructive discussions with vendors where invoices are considered to be in dispute to provide a swift resolution that benefits all parties, this maintains a healthy customer / vendor relationship and ensures positive cash flow.
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