ONESUBSEA UK LIMITED

Company Information

Company Number
00400176
Registered Address
280 Bishopsgate, London, EC2M 4RB
Status
Active
Employee Count
689.0
Turnover
342267000.0
EBITDA
24939000.0

Additional Details

Company Type
Private limited Company
Incorporated On
7 November 1945
Nature of Business
28990 - Manufacture of other special-purpose machinery not elsewhere classified
Industries
Property,Infrastructure And Construction
Region
London

Company Location

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Financial Metrics

Cash
£788,388.00
Net Worth
£186,327,323.00
Total Current Assets
£370,977,601.00
Total Current Liabilities
£381,381,903.00
Reporting Period
2023-07-01 to 2023-12-31Filed: 2024-01-31

Time to Pay

Average Time to Pay
29 days
Shortest Period:30 days
Longest Period:70 days
Max Contractual:180 days

Payment Timeline

Within 30 Days
66%
31-60 Days
27%
After 60 Days
6%
Not Paid Within Terms78%

Payment Features

Participates in Codes✗ No
E-Invoicing✓ Yes
Supply Chain Finance✓ Yes

Payment Time Trends

Dec 2023Jun 2023Dec 2022Jun 2022Dec 2021Jun 2021Dec 2020Jun 2020Dec 2019Jun 2019Dec 2018Jun 2018020406080

Payment Distribution Trends

Dec 2023Jun 2023Dec 2022Jun 2022Dec 2021Jun 2021Dec 2020Jun 2020Dec 2019Jun 2019Dec 2018Jun 2018020406080

Performance Reports History

Reporting PeriodFiling DateAverage Time to Pay (days)Paid within 30 daysPaid 31-60 daysPaid after 60 daysNot Paid within Terms
01 Jul 2023 - 31 Dec 202331 Jan 20242966%27%6%78%
01 Jan 2023 - 30 Jun 202331 Jul 20232476%18%6%22%
01 Jul 2022 - 31 Dec 202231 Jan 20233552%37%11%49%
01 Jan 2022 - 30 Jun 202215 Jul 20223165%26%9%26%
01 Jul 2021 - 31 Dec 202106 Jan 20223168%23%9%35%
01 Jan 2021 - 30 Jun 202123 Jul 20212867%25%8%34%
01 Jul 2020 - 31 Dec 202029 Jan 20216556%27%16%35%
01 Jan 2020 - 30 Jun 202030 Jul 20203953%35%12%42%
01 Jul 2019 - 31 Dec 201930 Jan 20204050%40%10%44%
01 Jan 2019 - 30 Jun 201931 Jul 20194145%35%20%57%
01 Jul 2018 - 31 Dec 201817 Jan 20195248%35%17%54%
01 Jan 2018 - 30 Jun 201827 Jul 20183456%34%10%49%

Company Summary

ONESUBSEA UK LIMITED is a leading provider of subsea production systems and services for the oil and gas industry

Founded in 2013, the company is headquartered in Aberdeen, United Kingdom

The company offers a range of sustainable solutions, including subsea trees, manifolds, wellhead systems, and control systems, to optimize production and minimize environmental impact

They also provide innovative digital technologies to enhance safety and efficiency in subsea operations

ONESUBSEA UK LIMITED is committed to sustainability and has implemented a comprehensive sustainability program

This includes reducing carbon emissions, promoting responsible sourcing, and investing in renewable energy projects

They also prioritize the health and safety of their employees and the protection of the environment in all their operations

The key people at ONESUBSEA UK LIMITED include their CEO, Kevin Taylor, and their Vice President of Operations, Simon Luffrum

Together, they bring years of industry experience and expertise to the company

For more information on their products, services, and sustainability efforts, you can visit their website at www.onesubsea.com

Their registered office address is 9 Altens Farm Road, Altens Industrial Estate, Aberdeen, AB12 3FY, United Kingdom

Company Review

Trend Analysis

The data shows a general trend of improvement in ONESUBSEA UK LIMITED's time to pay invoices, with a peak of 65 days in the second half of 2020 and a low of 24 days in the first half of 2023. This indicates that the company has been making efforts to pay invoices more promptly over the past three years.

Volatility Analysis

The data also shows some volatility in ONESUBSEA UK LIMITED's payment patterns, with fluctuations in the percentage of invoices paid within 30 days and the percentage of invoices paid later than 60 days. However, overall there is a downward trend in the percentage of invoices paid later than 60 days, indicating that the company is becoming more consistent in paying invoices on time.

Summary Analysis

Looking at the past three periods, ONESUBSEA UK LIMITED has shown improvement in its average time to pay invoices. In the first half of 2023, the company paid invoices in an average of 24 days, which is a significant improvement from the 39 days in the first half of 2020. This improvement is also reflected in the percentage of invoices paid within 30 days, which increased from 53% in the first half of 2020 to 76% in the first half of 2023.

Invoice Payment Practices

This information is as reported by the business, and responses are in their own words.

Payment Terms

Standard payment terms

Our company is part of the Schlumberger group of companies and based on its group policies and processes, there are a range of payment terms being followed depending on the suppliers and terms negotiated. In this reporting period, the most frequent payment terms are 50-70 days.

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

180

Dispute Resolution Process

: 3rd party: Although dispute resolution provisions are contained in most of our supplier contracts, our company seeks to resolve all supplier disputes amicably. In most cases, in the event of a supplier dispute, an email is sent to our central AP help desk and is prioritized by an AP business partner for resolution. Disputes are generally resolved within 4 to 7 working days. The AP business partner communicates with both parties (external and internal) in order to collate the required information to help resolve the dispute. Intercompany : A large proportion of the supplier payments this company makes are intercompany payments. Any reconciliation differences are identified by the intercompany team, which are then directed to the Procurement department/Sales department/General Accounting team in the financial hub in order to be resolved. If necessary, disputes are escalated to the relevant finance controllers. The aim is to resolve the dispute by the next intercompany settlement date.

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