MICHAEL I HOLDSWORTH LIMITED
Company number: 02027459
Reporting period:
1 March 2026 to 31 August 2026
Report filed on:
4 September 2026
Approved by:
Jessica Ashcroft
Contracts and payments
Do any of this business's construction contracts with its suppliers include retention clauses? No
Payment statistics
Average time taken to pay invoices: 36 days
Total value paid:
- within 30 days: £31,601,975 (45%)
- in 31 to 60 days: £35,223,272 (51%)
- in 61 days or more: £2,677,044 (4%)
Invoices paid:
- within 30 days: 37%
- in 31 to 60 days: 61%
- in 61 days or more: 2%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £15,506
- 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: 1%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
306 days
Standard payment terms
We have weekly payment terms for local suppliers and small businesses
We have an End of the month following the month of supply
We part pay our Rates bills over 306days by direct debit
We have special terms and pay some suppliers by direct debit ie.,
Utility suppliers
We may enter into arrangements to pay a supplier by percentage of a
Gross amount – until the supply is complete
We may make staged payments to a supplier until the supply is complete
We do not pay any supplier without receipt of a statement (unless there is only one invoice outstanding) This can cause delays as some
Suppliers do not issue statements! And need constant chasing
Unfortunately, when suppliers charge us incorrectly and don’t send in credit notes on a timely basis we are in breach of the agreed terms.
This is sometimes at the supplier’s request, as they don’t want any of their invoices part paid
During invoice processing it will be determined if there is a dispute
with the invoice ie., incorrect prices, short deliveries, none deliveries,
wrong goods delivered, damaged goods delivered, return of goods or
goods need returning, as Holdsworth did not order the goods
delivered
Holdsworth email/write and phone the suppliers to request credit
notes or collections
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
306 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
During invoice processing it will be determined if there is a dispute
with the invoice ie., incorrect prices, short deliveries, none deliveries,
wrong goods delivered, damaged goods delivered, return of goods or
goods need returning, as Holdsworth did not order the goods
delivered
Holdsworth email/write and phone the suppliers to request credit
notes or collections
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?
Yes
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
Yes