Ranked in 2 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
The data shows a consistent trend of GKN AEROSPACE SERVICES LIMITED taking longer to pay invoices over time. The average time to pay has increased from 81 days in the first period to 95 days in the last period. This is an overall increase of 17.3%.
The data also shows some volatility in the percentage of invoices paid within 30 days, with a decrease from 14% in the previous period to 9% in the last period. This is a decrease of 35.7%. There is also volatility in the percentage of invoices paid between 31 and 60 days, with a decrease from 24% to 18% in the last period. This is a decrease of 25%. However, the percentage of invoices paid later than 60 days has remained relatively stable between 63-73% over the periods.
The data shows that in the last three periods, GKN AEROSPACE SERVICES LIMITED has consistently taken longer to pay invoices. The average time to pay has increased by 14.8% compared to the first three periods. The percentage of invoices paid within 30 days has decreased by 1%, while the percentage of invoices paid between 31 and 60 days has increased by 3%. The worst period for late payments was in the 2020-2021 period, where 29% of invoices were paid later than 60 days.
| 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 2025 - 31 Dec 2025 | 27 Mar 2026 | 98 | 7% | 16% | 77% | 24% |
| 01 Jan 2025 - 30 Jun 2025 | 22 Oct 2025 | 102 | 5% | 16% | 79% | 19% |
| 01 Jul 2024 - 31 Dec 2024 | 13 May 2025 | 99 | 7% | 15% | 78% | 15% |
| 01 Jan 2024 - 30 Jun 2024 | 10 Sept 2024 | 101 | 7% | 13% | 80% | 19% |
| 01 Jul 2023 - 31 Dec 2023 | 30 Jan 2024 | 95 | 9% | 18% | 73% | 25% |
| 01 Jan 2023 - 30 Jun 2023 | 27 Jul 2023 | 94 | 7% | 18% | 75% | 24% |
| 01 Jul 2022 - 31 Dec 2022 | 30 Jan 2023 | 93 | 9% | 18% | 73% | 25% |
| 01 Jan 2022 - 30 Jun 2022 | 29 Jul 2022 | 77 | 13% | 22% | 65% | 20% |
| 01 Jul 2021 - 31 Dec 2021 | 30 Jan 2022 | 76 | 13% | 24% | 63% | 18% |
| 01 Jan 2021 - 30 Jun 2021 | 28 Jul 2021 | 75 | 13% | 22% | 65% | 21% |
| 01 Jul 2020 - 31 Dec 2020 | 28 Jan 2021 | 72 | 17% | 29% | 54% | 29% |
| 01 Jan 2020 - 30 Jun 2020 | 29 Jul 2020 | 79 | 12% | 20% | 68% | 22% |
| 01 Jul 2019 - 31 Dec 2019 | 29 Jan 2020 | 79 | 14% | 22% | 64% | 20% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 78 | 11% | 22% | 67% | 17% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 79 | 10% | 23% | 67% | 36% |
| 01 Jul 2018 - 31 Dec 2018 | 31 Jan 2019 | 79 | 10% | 23% | 67% | 3% |
| 01 Jan 2018 - 30 Jun 2018 | 31 Jul 2018 | 81 | 10% | 21% | 69% | 0% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The company’s standard terms and conditions of purchase (available at https://www.gknaerospace.com/supplier-portal/europe/united-kingdom/). These terms only apply in the absence of agreement and the company agrees payment terms with its suppliers on a case by case basis. The most frequently agreed terms are 90 days from the end of the month in which the invoice is received.
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
180
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. This varies from contract to contract, but will often be a member of the company’s purchasing function. That person will attempt to resolve that dispute with the supplier informally in the first instance. Formal legal disputes are rare and there have been no formal legal disputes between the company and its suppliers in the reporting period.
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
GKN Aerospace Services Limited is a long-established manufacturing company registered in Birmingham, with roots dating back to 1939 under earlier names including Vickers (Aviation), British Hovercraft Corporation and Westland Aerospace. Its registered activity is the manufacture of air and spacecraft and related machinery. It is controlled by Westland Group PLC and forms part of the wider GKN Aerospace group, which is described as a global engineering group making components for industries worldwide, itself part of the Melrose Industries PLC group for modern slavery reporting purposes. The company holds various leasehold and freehold property interests across England and Wales linked to its manufacturing operations.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk · companiesintheuk.co.uk