M.V. KELLY LIMITED
Company number: 03062853
Reporting period:
1 December 2024 to 31 May 2025
Report filed on:
30 June 2025
Approved by:
Kelly Linnett
Payment statistics
Average time taken to pay invoices: 58 days
Invoices paid:
- within 30 days: 8%
- in 31 to 60 days: 47%
- in 61 days or more: 45%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 8%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
60 days
Standard payment terms
For suppliers, M.V. Kelly Limited’s standard payment terms are 48 days from end of month of invoice, while large corporations have contract terms of 60 days from end of month of invoice. We are committed to supporting small businesses and recognise the importance of cash flow to their operations; therefore, we offer reduced terms of 30 days from end of month of invoice for small suppliers and those heavily reliant on our trade. For subcontractors, our standard payment terms are 45 days from end of month of invoice, with longer terms of up to 60 days from end of month of invoice for larger subcontractors. In line with our commitment to supporting small businesses, we offer accelerated payment terms of 7 to 14 days from invoice date for small subcontractors and those whose work involves a high proportion of labour.
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
90 days
M.V. Kelly has a separate agreement with a large corporation with extended payment terms up to 90 days.
Any other information about payment terms
Payment terms are reviewed on a regular basis and adapted to support supplier’s circumstances. M.V Kelly is determined to ensure fair payment terms and that no supplier is disadvantaged.
Dispute resolution process
Suppliers Queries are raised by the Accounts Payable team with the Procurement team or directly with the supplier at the point the invoice is processed. A further reminder is sent to suppliers by the mid-month of the following month of invoice via email; detailing all transactions held along with reasoning. Subcontractors Queries are raised by the Accounts Payable team with the Project Managers or directly with the subcontractor at the point the invoice is processed. Details of disputes and agreements are put in writing via email after discussions with the subcontractor.
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