REDS10 (UK) LIMITED
Company number: 05934862
Reporting period:
1 October 2024 to 31 March 2025
Report filed on:
4 July 2025
Approved by:
Paul Ruddick
Payment statistics
Average time taken to pay invoices: 34 days
Invoices paid:
- within 30 days: 34%
- in 31 to 60 days: 61%
- in 61 days or more: 5%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 5%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
60 days
Standard payment terms
14 days for labour agencies, 30 days standard, 45 days for specific subcontractors, up to 60 days 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
Value of payments made within 30 days represent 60% of total payments, however based on the transaction numbers it stands at 34%.
Transactions paid between 30 to 60 days are mostly to trade suppliers with lower transaction value which represents 37% of total payments, however the transaction numbers are higher, hence the 61% count.
Transactions paid over 60 days are valued at 3% of total payments, however these are mostly relating to trade supplier invoices received late as well as disputed invoices, representing 5% of the total number of transactions in the period.
Dispute resolution process
All supply chain can submit queries with regards to payment 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.
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