WINVIC CONSTRUCTION LIMITED
Company number: 04135363
Reporting period:
1 February 2026 to 31 July 2026
Report filed on:
26 August 2026
Approved by:
Heather Ratcliffe
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: 33 days
Total value paid:
- within 30 days: £80,720,150 (19%)
- in 31 to 60 days: £330,980,843 (77%)
- in 61 days or more: £16,036,553 (4%)
Invoices paid:
- within 30 days: 51%
- in 31 to 60 days: 42%
- in 61 days or more: 7%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £9,781,632
- payments due in the reporting period which have not been paid within the agreed period: 8%
- not made in the reporting period due to a dispute: 100%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
40 days
Standard payment terms
Our shortest payment terms are 14 days from date of invoice. Most of our suppliers are on standard terms of end of month following invoice. Our subcontractors standard terms are 40 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
40 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 only applied to suppliers when applied to the project by the client
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: 3%
Does this business apply retention clause practices that are no more onerous than those applied to it on the same project?
Yes:
Retention rates between us and our clients are reflected in our subcontracts
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
This is based on completion dates and making good/defect time periods as per the contract, typically from 1-3 years
Is the money released in stages?
Yes:
On project completion, first 1.5% is released, the remaining 1.5% is released on completion of the defect 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
72%
Amount retained stated as a percentage of the total construction payments made by this business
3%
Dispute resolution process
Every effort is made to avoid disputes. Suppliers/ Subcontractors are informed of any disputes directly by the project team or commercial team. Every effort is taken to resolve these disputes quickly. In the unlikely event of no resolution by the people directly involved then it will be escalated to the line manager up to Director level. In the unlikely event of a subcontractor dispute, which is not resolved using the process above, the adjudication option is included within the subcontractor order.
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