EDWARDS LIMITED
Company number: 06124750
Reporting period:
1 January 2026 to 30 June 2026
Report filed on:
12 August 2026
Approved by:
Kurt Vandingenen
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: 63 days
Total value paid:
- within 30 days: £15,670,027 (17%)
- in 31 to 60 days: £36,908,762 (40%)
- in 61 days or more: £40,110,150 (43%)
Invoices paid:
- within 30 days: 15%
- in 31 to 60 days: 37%
- in 61 days or more: 48%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £69,900,000
- payments due in the reporting period which have not been paid within the agreed period: 2%
- not made in the reporting period due to a dispute: 5%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
Answer not provided
Standard payment terms
Standard payment terms are 60 days end of the month from receipt of invoice. Further details can be found at https://www.edwardsvacuum.com/en-uk/terms-and-conditions
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
120 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:
As a manufacturing Company, retention clauses are used in certain qualifying construction contracts relating to significant construction works that need to be carried out to our facilities, for example, an extension to a production facility.
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
Retention is reduced following Practical Completion and the balance is released following completion of the defects liability period, subject to the terms of the contract and satisfactory completion of any outstanding defects.
Is the money released in stages?
Yes:
Retention is reduced from 6% to 1.5% upon issuance of Practical Completion and the remaining retention is released at the end of the 12-month 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
0%
Dispute resolution process
If any disagreement arises out of the invoices and their payment, the matter shall be disposed of as follows: the Supplier shall send an email to Accounts.Payable@edwardsvacuum.com with evidence that it met the invoicing requirements and with an explanation of its claim regarding any unpaid invoice. Accounts Payable Department should respond within 3 working days. If this dispute is not resolved, the Supplier should contact the Purchasing Manager who shall respond to the Supplier within 10 working days of receipt of the Supplier’s email and the parties will use their reasonable endeavours to resolve the matter promptly.
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.
Yes
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