Ranked in 2 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
There has been a fluctuating trend in the average time taken for TOM MARTIN & COMPANY LIMITED to pay invoices to suppliers. In the first three periods, there was a gradual decrease in the average time to pay, from 37 days in 2018 to 32 days in the first half of 2019. However, in the last two periods, there has been a significant increase, with the average time to pay reaching 43 days in the first half of 2020. This suggests that there have been changes in the company's payment processes or cash flow management.
The volatility of the average time to pay for TOM MARTIN & COMPANY LIMITED has increased over the three periods. In the first two periods, there was a relatively stable trend, with the average time to pay increasing by only 5 days. However, in the last two periods, there has been a more significant change, with the average time to pay increasing by 11 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 Jan 2024 - 30 Jun 2024 | 19 Aug 2024 | 35 | 33% | 64% | 2% | 16% |
| 01 Jul 2020 - 31 Dec 2020 | 18 Jan 2021 | 28 | 44% | 52% | 4% | 44% |
| 01 Jan 2020 - 30 Jun 2020 | 27 Jul 2020 | 43 | 35% | 36% | 28% | 54% |
| 01 Jul 2019 - 31 Dec 2019 | 05 Feb 2020 | 34 | 42% | 52% | 6% | 52% |
| 01 Jan 2019 - 30 Jun 2019 | 19 Jul 2019 | 32 | 41% | 55% | 4% | 25% |
| 01 Jan 2018 - 31 Dec 2018 | 17 Jul 2019 | 37 | 33% | 60% | 7% | 29% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
MONTH END FOLLOWING
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
N/A
Maximum contractual payment period agreed
61
In this business sector it is common to use weighbridge of the receiving party, therefore genuine invoice disputes are rare.
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
Tom Martin & Company is a privately owned scrap metal merchant and trading business, founded in 1948 and based in Preston with additional sites in Manchester, Rotherham and Poland. It specialises in handling, processing and trading non-ferrous metals for manufacturing clients, buying and selling scrap and converting loose material into briquettes. The company processes over 50,000 tonnes of non-ferrous metal annually and exports to more than 40 countries, describing itself as the UK's leading independent non-ferrous metals processor. It works with industrial suppliers to recover metal waste streams and is a member of several recycling trade bodies, including Alupro and the BMRA.
Generated from the company's website and Companies House records. Sources: tom-martin.co.uk · tom-martin.co.uk