| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2024 - 31 Dec 2024 | 24 Apr 2025 | 46 | 42% | 54% | 4% | 2% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Subcontract Ledger: Standard payment terms are set during the negotiation phase and written into the subcontract terms and conditions. Standard terms of 31 days are agreed with most subcontractors. Certain trades can often have shorter terms particularly where the labour content is high. As such terms can often range between 14-31 days. The time taken for the BACS payment to be received by the subcontractor is factored into the payment due date. Funds are available on the due date. Purchase Ledger: Standard payment terms are payment to the supplier by the end of month following the month of invoice. This can result in a payment period of between 28-63 days. Payment is sent by BACS. Funds are available on the due date.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
61
Subcontract Ledger: Disputes involving subcontractors are referred to the project's Quantity Surveyor, who will resolve them as promptly as possible. If the subcontractor wishes to escalate the issue, they may contact the Commercial Director or Finance Director for further discussion. Notes can be recorded in the finance system to track disputes and provide a clear audit trail. Once resolved, payment will be included in the next available weekly payment run or sooner if necessary. Purchase Ledger: Invoices are recorded in the accounts system and visible to the accounts team as outstanding. Notes can be added to invoices within the system to highlight unresolved issues quickly. The Finance Manager monitors unapproved invoices and reports on outstanding items. Once resolved, payment will be included in the next available payment run or sooner if required.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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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.
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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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
BARNWOOD LIMITED is an active private limited company established to conduct commercial operations within the United Kingdom.
The company, with company number 00785952, was incorporated on 24 December 1963. Its registered office is located at 203 Barnwood Road, Gloucester, GL4 3HS, situated within the South West region of the UK.
As a private limited company, organisations of this type typically operate with limited liability for their shareholders. They are generally established to provide a diverse range of services or products across various sectors of the UK economy.