| 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 Jan 2025 - 30 Jun 2025 | 31 Jul 2025 | 35 | 36% | 50% | 14% | 18% |
| 01 Jul 2024 - 31 Dec 2024 | 30 Jan 2025 | 39 | 33% | 48% | 19% | 17% |
| 01 Jan 2024 - 30 Jun 2024 | 31 Jul 2024 | 41 | 25% | 53% | 22% | 26% |
| 01 Jul 2023 - 31 Dec 2023 | 31 Jan 2024 | 46 | 24% | 51% | 25% | 20% |
| 01 Jan 2023 - 30 Jun 2023 | 31 Jul 2023 | 45 | 21% | 53% | 26% | 23% |
| 01 Jul 2022 - 31 Dec 2022 | 31 Jan 2023 | 41 | 28% | 50% | 22% | 23% |
| 01 Jan 2022 - 30 Jun 2022 | 28 Jul 2022 | 44 | 23% | 50% | 28% | 16% |
| 01 Jul 2021 - 31 Dec 2021 | 27 Jan 2022 | 37 | 30% | 47% | 23% | 17% |
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 41 | 21% | 51% | 28% | 33% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 39 | 30% | 52% | 18% | 30% |
| 01 Jan 2020 - 30 Jun 2020 | 31 Jul 2020 | 39 | 31% | 49% | 20% | 36% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 40 | 33% | 50% | 17% | 16% |
| 01 Jan 2019 - 30 Jun 2019 | 26 Jul 2019 | 38 | 47% | 41% | 12% | 28% |
| 01 Jul 2018 - 31 Dec 2018 | 01 Feb 2019 | 38 | 37% | 45% | 18% | 28% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 33 | 41% | 43% | 16% | 26% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
SKF (U.K.) Limited standard payment terms are net monthly i.e. payment date is calculated from end of month following invoice 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
150
The outsource partner with the SKF Finance Operations Center are responsible for dealing with invoice queries. They will resolve any queries directly where possible and will pass any remaining on to the purchasing responsible for resolution.
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
SKF (U.K.) Limited is the UK subsidiary of the global SKF group, a business founded in 1907 that manufactures bearings, gears and related driving elements used wherever mechanical movement occurs. The registered UK entity, incorporated in 1910 and based in Luton, operates within this international network, which spans around 130 countries with tens of thousands of employees and thousands of distributor locations. Its core activity, as reflected in its registered SIC classification, is the manufacture of bearings and gearing components that serve as parts within other companies' machinery and equipment, rather than the design or sale of finished consumer products.
Generated from the company's website and Companies House records. Sources: skf.com