GKN FREIGHT SERVICES LIMITED
Company Information
- Company Number
- 00056211
- Registered Address
- 2100 The Crescent, Birmingham Business Park, Birmingham, West Midlands, United Kingdom, B37 7YE
- Status
- Active
- Employee Count
- 5
- Turnover
- £2,090,000
- EBITDA
- -£115,000
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 23 February 1898
- Nature of Business
- 52290 - Other transportation support activities
- Industries
- Distribution And Delivery
- Region
- West Midlands
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
The average time taken for GKN FREIGHT SERVICES LIMITED to pay invoices has been steadily increasing over the past three periods, going from 60 days in the first period to 71 days in the most recent period.
Volatility Analysis
The percentage of invoices paid within 30 days has fluctuated between 11-16% over the past three periods, while the percentage of invoices paid between 31-60 days has remained relatively consistent at 39-45%. However, there has been a significant increase in the percentage of invoices paid later than 60 days, going from 39% in the first period to 50% in the most recent period.
Summary Analysis
Looking at the three periods, GKN FREIGHT SERVICES LIMITED has been consistently taking longer to pay invoices, with an average time to pay of 60 days in the first period, 66 days in the second period, and 71 days in the most recent period. There has also been a slight decrease in the percentage of invoices paid within 30 days, going from 16% in the first period to 11% in the most recent period. The percentage of invoices paid between 31-60 days has remained relatively consistent, but there has been a significant increase in the percentage of invoices paid later than 60 days, which has gone from 39% in the first period to 50% in the most recent period.
Performance Reports History
| 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 2023 - 31 Dec 2023 | 30 Jan 2024 | 71 | 11% | 39% | 50% | 9% |
| 01 Jan 2023 - 30 Jun 2023 | 27 Jul 2023 | 67 | 12% | 40% | 48% | 12% |
| 01 Jul 2022 - 31 Dec 2022 | 16 Jan 2023 | 66 | 13% | 43% | 44% | 12% |
| 01 Jan 2022 - 30 Jun 2022 | 23 Jul 2022 | 60 | 16% | 45% | 39% | 14% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
The company’s standard terms and conditions of purchase (available at: www.GKNAutomotive.com/GeneralPurchasingConditions) provide that payment will be due on the first bi-weekly GKN payment run date falling ninety (90) days after the later of the date on which: (a) a validly issued invoice is received by GKN; or (b) title to the products passes to GKN and/or the services are provided in full (as applicable). However, in practice these terms only apply in the absence of agreement and the company agrees payment terms with its suppliers on a case by case basis.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
134
Dispute Resolution Process
Due to the nature of the company’s activities, disputes with its suppliers are very infrequent. The company does not have a formal dispute resolution process. Any disputes or queries should be raised with the relevant company contact for that particular contract (which varies from contract to contract) who will attempt to resolve that dispute with the supplier informally in the first instance. There have been no formal legal disputes about payments between the company and its suppliers in the reporting period.
Other Payment Information
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.
❌
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.
❌
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.
✅
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Company Summary
GKN FREIGHT SERVICES LIMITED is a global logistics company that offers a wide range of services including freight forwarding, warehousing, and distribution. The company is committed to sustainability and has implemented a number of initiatives to reduce its environmental impact.
Their sustainability program includes investing in energy-efficient technologies, promoting the use of renewable energy sources, and reducing carbon emissions through efficient transportation methods. They also have a waste management system in place to minimize their waste production and promote recycling.
In terms of products and services, GKN FREIGHT SERVICES LIMITED offers customized logistics solutions for a variety of industries including automotive, aerospace, and consumer goods. They have a strong focus on customer satisfaction and strive to provide efficient and reliable services.
The company is led by a team of highly experienced and skilled individuals, including CEO Mark Durno and CFO James Murgatroyd. They have a global presence with offices in Europe, North America, and Asia, and a strong network of partners to ensure smooth and seamless operations.
To get in touch with GKN FREIGHT SERVICES LIMITED, their website address is www.gknfreightservices.com. Their registered office address is Kings Place, 90 York Way, London, N1 9AG, United Kingdom. Overall, GKN FREIGHT SERVICES LIMITED is a sustainable and reputable logistics company, providing top-quality services to its clients worldwide.
