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 average time taken for ROTORK CONTROLS LIMITED to pay invoices has been steadily increasing over the past three periods, with the largest increase seen between 2018-01-01 and 2018-07-01 (12 percentage points). However, there has been a slight decrease in the percentage of invoices paid within 30 days between 2019-07-01 and 2020-07-01 (2 percentage points).
The volatility in ROTORK CONTROLS LIMITED's payment patterns can be seen in the fluctuation of the percentage of invoices paid within 30 days and between 31 and 60 days. While there has been a consistent decrease in the percentage of invoices paid within 30 days, the percentage paid between 31 and 60 days has fluctuated significantly.
Between 2018-01-01 and 2018-12-31, ROTORK CONTROLS LIMITED's average time to pay increased by 12 percentage points. However, there was a slight improvement in the percentage of invoices paid within 30 days between 2019-01-01 and 2019-12-31 (2 percentage points). The worst period for ROTORK CONTROLS LIMITED in terms of paying invoices later than 60 days was between 2019-07-01 and 2019-12-31, with 36% of invoices being paid late.
| 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 2020 - 31 Dec 2020 | 25 Jan 2021 | 62 | 8% | 49% | 43% | 42% |
| 01 Jan 2020 - 30 Jun 2020 | 03 Jul 2020 | 59 | 8% | 52% | 40% | 64% |
| 01 Jul 2019 - 31 Dec 2019 | 21 Jan 2020 | 59 | 8% | 56% | 36% | 60% |
| 01 Jan 2019 - 30 Jun 2019 | 16 Jul 2019 | 58 | 10% | 55% | 35% | 58% |
| 01 Jul 2018 - 31 Dec 2018 | 08 Jan 2019 | 56 | 14% | 53% | 33% | 63% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 44 | 12% | 53% | 35% | 61% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms are 30 days end of month, which averages out to be approximately 45 days.
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
60
Initially, our Accounts Payable Clerk would be contacted regarding any queries/disputes, and if they cannot sort this out then it would be raised to our assistant financial controller, who currently oversees the Accounts Payable function. The relevant department manager will also be involved at this point, who will hopefully be able to help/deal with any disputes, since they should have been aware of the purchase and the terms upon which the purchase was made. If this fails to resolve the dispute then our Financial Controller would be involved also.”
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
Rotork Controls Limited is a UK operating company within the Rotork group, a manufacturer of flow control and instrumentation equipment. Companies House records classify its activities under manufacture of electronic components and manufacture of bearings, gears and driving elements, consistent with the group's core products such as actuators, gearboxes and valve control equipment. The wider Rotork group, headquartered in Bath, describes itself as a global provider of intelligent flow control and instrumentation solutions for oil and gas, water and power, and chemical, process and industrial markets, serving customers across 140 countries. This entity forms part of that manufacturing operation rather than being a separate trading or holding business.
Generated from the company's website and Companies House records. Sources: rotork.com · rotork.com