BOSTON PUTFORD OFFSHORE SAFETY LIMITED
Company Information
- Company Number
- 00455971
- Registered Address
- Columbus Buildings Waveney Road, Lowestoft, Suffolk, United Kingdom, NR32 1BN
- Status
- Active
- Employee Count
- 39
- Turnover
- £31,886,000
- EBITDA
- £5,055,000
Additional Details
- Website
- https://bostonputford.com/
- Company Type
- Private limited Company
- Incorporated On
- 23 June 1948
- Nature of Business
- 50200 - Sea and coastal freight water transport
- Industries
- Travel And Transportation
- Region
- East of England
Time to Pay
Payment Timeline
Payment Features
Company Review
Trend Analysis
The average time to pay for BOSTON PUTFORD OFFSHORE SAFETY LIMITED has increased from 42 days in the first half of 2018 to 44.3 days in the first half of 2019. The percentage of invoices paid within 30 days has decreased from 11% to 9%, while the percentage of invoices paid between 31 and 60 days has remained relatively stable. However, the percentage of invoices paid later than 60 days has increased from 3% to 7%, indicating a trend towards longer payment times.
Volatility Analysis
The volatility of BOSTON PUTFORD OFFSHORE SAFETY LIMITED's payment patterns can be seen in the fluctuation of the average time to pay, which has varied by 2.3 days over the three periods analysed. The company's performance in paying invoices within 30 days has also been volatile, with a range of 11% to 9%. However, the percentage of invoices paid between 31 and 60 days has remained relatively consistent at around 85%, while the percentage of invoices paid later than 60 days has shown a significant increase from 3% to 7%.
Summary Analysis
In the first half of 2018, BOSTON PUTFORD OFFSHORE SAFETY LIMITED had an average time to pay of 42 days, with 11% of invoices paid within 30 days and 86% paid between 31 and 60 days. Only 3% of invoices were paid later than 60 days, indicating a strong performance in meeting payment terms. However, in the second half of 2018, the average time to pay remained the same at 42 days, but there was a slight decrease in the percentage of invoices paid within 30 days (10.7%) and an increase in the percentage of invoices paid later than 60 days (4%). This trend continued into the first half of 2019, with the average time to pay increasing to 44.3 days and a further decrease in the percentage of invoices paid within 30 days (9%) and an increase in the percentage of invoices paid later than 60 days (7%). This indicates a decline in BOSTON PUTFORD OFFSHORE SAFETY LIMITED's payment performance, with a trend towards longer payment times and a higher proportion of invoices being paid late.
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 Jan 2018 - 30 Jun 2018 | 01 Aug 2018 | 42 | 11% | 86% | 3% | 89% |
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
Two payment runs per month so the average payment will take between 30 and 45 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
30
Dispute Resolution Process
Discussing issues over the phone but never really any problems as most of our suppliers are longstanding and know we are creditworthy and pay all balances due.
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.
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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?
❌
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
BOSTON PUTFORD OFFSHORE SAFETY LIMITED is a UK-based company that provides safety and emergency response services to the offshore oil and gas industry. The company was founded in 1972 and has since established itself as a leader in the field.
The company's sustainability program is focused on minimizing its environmental impact and promoting responsible practices. They have implemented measures such as using renewable energy sources, reducing waste and implementing recycling programs.
BOSTON PUTFORD OFFSHORE SAFETY LIMITED offers a range of products and services to ensure the safety of offshore operations. This includes emergency response services, firefighting, rescue and recovery, as well as training and consultancy services.
The key people of the company include the Managing Director, Neil Smith, who has over 30 years of experience in the industry, and the Operations Manager, John Brown, who has over 25 years of experience in the field.
The company's website, www.bostonputford.com, provides detailed information about their services, products, and sustainability initiatives. The registered office address is Boston Putford Offshore Safety Limited, 2nd Floor, 2-4 Exchange Street, Norwich, Norfolk, NR2 1AT, United Kingdom.
In summary, BOSTON PUTFORD OFFSHORE SAFETY LIMITED is a reputable company that is committed to promoting sustainability while providing essential safety and emergency response services to the offshore industry. Their experienced team and comprehensive range of products and services make them a reliable choice for offshore operations.
