ESSEX SERVICES GROUP LIMITED
Company number: 01224662
Reporting period:
1 January 2025 to 30 June 2025
Report filed on:
18 July 2025
Approved by:
Lee Moore
Payment statistics
Average time taken to pay invoices: 65 days
Total value paid:
- within 30 days: £46,944,277 (48%)
- in 31 to 60 days: £22,499,853 (23%)
- in 61 days or more: £28,375,953 (29%)
Invoices paid:
- within 30 days: 15%
- in 31 to 60 days: 27%
- in 61 days or more: 58%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £27,960,477
- payments due in the reporting period which have not been paid within the agreed period: 32%
- not made in the reporting period due to a dispute: 10%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Our largest material suppliers (material supplier invoices account for nearly 90% of total invoices processed) are on 60 Days end of month from date of invoice. This explains why our average time taken is over 60 days and why majority of our invoices paid are 61 days or more. Our subcontractor standard payment terms are 60 days from valuation 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
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Material Deliveries - If there is no record of a delivery being made, proof of delivery is requested by the accounts department. Incorrect Price - If goods are charged at a different rate to that agreed at the point of ordering, the buying dept. will contact the supplier to resolve the discrepancy. Sub-Contractors - Where dispute arises, the Project QS will liaise with the sub-contractor to resolve any issues. For both suppliers and subcontractors if the dispute cannot be resolved through the normal process as detailed above the matter will be escalated internally
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