{
  "url": "https://openlegislation.uk/large-and-medium-sized-companies-and-groups-accounts-and-reports-regulations-2008/schedule-7/paragraph-28",
  "json_url": "https://openlegislation.uk/large-and-medium-sized-companies-and-groups-accounts-and-reports-regulations-2008/schedule-7/paragraph-28.json",
  "legislation": "uksi/2008/410",
  "legislation_title": "The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008",
  "legislation_url": "https://openlegislation.uk/large-and-medium-sized-companies-and-groups-accounts-and-reports-regulations-2008",
  "path": "schedule/7/paragraph/28",
  "kind": "paragraph",
  "number": "28",
  "heading": null,
  "text": "(1) Subject to paragraphs 29 and 30, the directors’ report for a financial year must contain the information specified by sub-paragraphs (2), (3) and (4).\n(2) A statement describing—\n(a) the payment period specified in the company’s standard payment terms in its qualifying contracts between it and its suppliers, expressed in days;\n(b) where the company varied the standard payment terms in its qualifying contracts between it and its suppliers in the financial year—\n(i) details of the variation; and\n(ii) details of any notification or consultation conducted by the company with its suppliers before making the variation.\n(3) In relation to the payments made under qualifying contracts within the financial year, a statement of—\n(a) the average number of days taken to make such payments, where day 1 is the first day after the relevant day;\n(b) the percentage of those payments which were made, where day 1 is the first day after the relevant day—\n(i) within the period beginning with day 1 and ending with day 30;\n(ii) within the period beginning with day 31 and ending with day 60;\n(iii) on or after day 61;\n(c) the sum total of those payments which were made, where day 1 is the first day after the relevant day—\n(i) within the period beginning with day 1 and ending with day 30;\n(ii) within the period beginning with day 31 and ending with day 60;\n(iii) on or after day 61.\n(4) In relation to the payments under qualifying contracts that fall due within the financial year—\n(a) a statement of the percentage of these payments which were not made within the payment period; and\n(b) a statement of the sum total of these payments which were not made within the payment period.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 7 Pt. 9 inserted (1.1.2026 with effect in respect of a company’s financial year beginning on or after 1.1.2026) by The Companies (Directors’ Report) (Payment Reporting) Regulations 2025 (S.I. 2025/1152), regs. 1(2)(4), 5"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2008/410/schedule/7/paragraph/28",
    "retrieved_at": "2026-10-29T03:36:28.753437+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}