REDS10 (UK) LIMITED
Company number: 05934862
Reporting period:
1 April 2026 to 30 September 2026
Report filed on:
30 October 2026
Approved by:
Stephanie Mehra
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: 36 days
Total value paid:
- within 30 days: £22,768,822 (63%)
- in 31 to 60 days: £12,695,976 (35%)
- in 61 days or more: £567,677 (2%)
Invoices paid:
- within 30 days: 41%
- in 31 to 60 days: 57%
- 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: £567,677
- 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
14 days
Longest standard payment period
45 days
Standard payment terms
14 days for labour agencies, 30 days standard, 45 days for specific subcontractors, 60 net monthly payment terms for trade suppliers.
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
No further comment provided
Any other information about payment terms
The value of payments made within 30 days represents 66% of total payments and 41% of transaction numbers. Transactions paid between 31-60 days are mostly trade suppliers with lower value of invoices which represent 37% of total payments and 57% of transaction numbers. Transactions paid over 60 days are valued at less than 1% of total payments and 2% of transactions, these mostly relate to trade suppliers and although paid within terms, due to the 60days end of month payment dates are meaning that we have seen a fall in our average payment days. This has been addressed and we expected to see this fall in the next reporting cycle.
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: 3%
Does this business apply retention clause practices that are no more onerous than those applied to it on the same project?
Yes:
Standard terms apply retention to subcontracted works in the same terms as with the client. No retention is applied to subcontracted works where there is no retention on the client contract.
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
Retention is released in two parts, first 50% when practical completion is achieved and payment certificate is issued. The remaining balance is released after defect period which can be anywhere between 12 to 24 months following practical completion, the final account has been reconciled and agreed by both parties.
Is the money released in stages?
Yes:
Retention is released in two parts, first 50% when practical completion is achieved and payment certificate is issued. The remaining balance is released after defect period which can be anywhere between 12 to 24 months following practical completion, the final account has been reconciled and agreed by 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
61%
Amount retained stated as a percentage of the total construction payments made by this business
3%
Dispute resolution process
All suppliers/subcontractors can submit queries with regards to payments via online troubleshooting form. All queries are addressed within specified period by our Supply Chain Manager. Any complex disputes are escalated and handled by allocated commercial and finance team member depending on the nature of the dispute. We aim to resolve the query directly with the
supplier/subcontractor and their accounts manager.
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.
Yes, this business has signed up to: The Fair payment code
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