KILNBRIDGE CONSTRUCTION SERVICES LTD.
Company number: 02708682
Reporting period:
1 January 2023 to 30 June 2023
Report filed on:
10 March 2025
Approved by:
Tim Larkin
Payment statistics
Average time taken to pay invoices: 51 days
Invoices paid:
- within 30 days: 10%
- in 31 to 60 days: 66%
- in 61 days or more: 24%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 57%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
100 days
Standard payment terms
Payment terms are agreed with subcontractors and suppliers as part of contract negotiations and to comply with any statutory and client contractual requirements. Standard terms agreed range from 30 Days to 60 Days from month end of invoice.
Some suppliers are on 7 days to 100 days from document date.
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
100 days
No further comment provided
Any other information about payment terms
We adhere to agreed payment terms, as reflected in our strong credit rating and excellent relationships with our suppliers. Historically, we processed all supplier payments on the last Friday of each period. While this ensured consistency, it occasionally resulted in payments falling a day or two into the following month, which negatively impacted our reported payment statistics.
To address this, we have now adjusted our approach: payments are made on the last working day of the month, regardless of which day it falls on. This change ensures greater alignment with reporting metrics and more accurately reflects our commitment to prompt payment.
Dispute resolution process
At Kilnbridge Construction Services Limited, we are committed to fair and transparent payment practices. In the event of a dispute regarding payment terms, invoicing, or any related matters, we follow a structured resolution process:
1. Initial Review – Suppliers should raise any payment concerns directly with our accounts payable team via accountspayable@kilnbridge.com. We aim to acknowledge all queries within 3 business days.
2. Investigation & Response – Our team will review the issue, liaising with relevant internal departments to verify the invoice status and resolve discrepancies. A response will be provided within 7 business days, or sooner where possible. If the matter requires further investigation, we will keep the supplier informed of progress and expected resolution timescales.
3. Escalation – If the matter remains unresolved, it will be escalated to our Finance Director for further review and resolution. Suppliers will be kept informed throughout the process.
4. Final Resolution – We will work collaboratively to reach a fair resolution, ensuring compliance with agreed contractual terms and government guidelines.
We are committed to maintaining positive supplier relationships and ensuring all payments are made in line with our agreed terms.
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