The average time to pay for MACRON SAFETY SYSTEMS (UK) LIMITED has decreased from 12 days in Oct 2015 to 8 days in Oct 2017. The percentage of invoices paid within 30 days has increased from 84% to 94% during the same period. However, there has been a slight increase in the percentage of invoices paid later than 60 days, from 7% to 8%.
The company's average time to pay has been relatively stable, with a decrease of only 3 days over the past three periods. The percentage of invoices paid within 30 days has also remained consistent, with a slight increase of 6% over the past three periods. However, there has been some volatility in the percentage of invoices paid later than 60 days, with a high of 7% in Mar 2016 and a low of 3% in Mar 2018.
Overall, MACRON SAFETY SYSTEMS (UK) LIMITED has shown improvement in their payment practices over the past three periods. Their average time to pay has decreased by 4 days, while their percentage of invoices paid within 30 days has increased by 10%. However, there has been a slight increase in the percentage of invoices 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 Oct 2017 - 31 Mar 2018 | 01 May 2018 | 8 | 94% | 3% | 3% | 18% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
60 days end of month
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
90
Suppliers are encouraged to contact the Company accounts Payables team in order to discuss queries. If further discussion is required the Procurement Department will be responsible for resolution. Further elevation according to the Company ‘Delegation of Authority’ is normal procedure
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
Macron Safety Systems (UK) Limited is a manufacturing company registered in Great Yarmouth, Norfolk. It was previously known as Fireater Systems Limited, then Fireater Limited, and later Macron Fireater Limited, names suggesting a background in fire safety equipment. Companies House records its nature of business as other manufacturing not elsewhere classified. The company is currently subject to significant control by Johnson Controls International Plc, indicating it operates as part of that wider international group's UK activities rather than as an independent trading entity. No further detail on specific products or markets is available from the supplied evidence.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk · find-and-update.company-information.service.gov.uk