| 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 2025 - 31 Dec 2025 | 31 Jan 2026 | 52 | 13% | 77% | 10% | 14% |
| 01 Jan 2025 - 30 Jun 2025 | 29 Aug 2025 | 55 | 10% | 72% | 18% | 15% |
| 01 Jul 2024 - 31 Dec 2024 | 29 Jan 2025 | 52 | 13% | 73% | 14% | 14% |
| 01 Jan 2024 - 30 Jun 2024 | 22 Jul 2024 | 49 | 19% | 75% | 6% | 12% |
| 01 Jul 2023 - 31 Dec 2023 | 31 Jan 2024 | 47 | 22% | 72% | 6% | 11% |
| 01 Jan 2023 - 30 Jun 2023 | 31 Jul 2023 | 47 | 22% | 68% | 10% | 14% |
| 01 Jul 2022 - 31 Dec 2022 | 18 Jan 2023 | 50 | 24% | 62% | 13% | 18% |
| 01 Jan 2022 - 30 Jun 2022 | 28 Jul 2022 | 49 | 24% | 61% | 14% | 20% |
| 01 Jul 2021 - 31 Dec 2021 | 31 Jan 2022 | 47 | 26% | 62% | 12% | 20% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 47 | 25% | 67% | 8% | 15% |
| 01 Jul 2020 - 31 Dec 2020 | 20 Jan 2021 | 41 | 41% | 51% | 8% | 21% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 38 | 56% | 35% | 10% | 21% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 37 | 60% | 33% | 7% | 22% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 40 | 51% | 40% | 9% | 25% |
| 01 Jul 2018 - 31 Dec 2018 | 31 Jan 2019 | 44 | 54% | 27% | 19% | 29% |
| 01 Jan 2018 - 30 Jun 2018 | 26 Jul 2018 | 40 | 53% | 28% | 19% | 32% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
A payment policy is published internally for raw materials which seeks to maximize payment terms within all contracts, targeting payment days equivalent to 60 days net of invoice date. These terms are not limiting and a final agreed term is reached by negotiation and agreement with each supplier on a case by case basis. For vendors of Indirect materials and services (non-raw materials), standard payment terms are 60 days from date or invoice.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
NA
Maximum contractual payment period agreed
90
General business practice is as follows: • Purchase Orders or similar alternative methods of instruction are issued to suppliers reflecting agreed pricing and payment terms. Goods or services are received by Afton. • Invoices are received by our Finance Department and matched to the values established above. • Where the Finance department does not have a Purchase Order or other information with which to stablish match then internal approval will be sought. • Payments are made in accordance with he agreed payment terms measured from invoice date unless otherwise agreed. Disputes arise in the following circumstances: • Payment terms shown on the invoice vary from that which has been agreed. • The price quoted on the invoice varies from that contained on the Purchase Order or other form of instruction. • The quantity or volume invoiced varies from our receiving records by a degree greater than an internal tolerance. • Internal approval of the goods or services received is awaited. Resolution process: • The Finance Department will alert the Procurement Department, Receiving Department or internal approver of the dispute. • The alerted Department will review each on a case by case basis and then either; a) make adjustments to the records in order to allow a match to be made, b) give approval for payment to be made, c) raise a dispute with the supplier. In the case of (a) and (b) above then payment will proceed per general business practice shown above. In the case of (c) above then the invoice will be placed on payment hold awaiting either a credit note to resolve the variance or justification from the supplier with which Afton agrees, following which payment will proceed per general business practice by policy Afton seeks to pay in accordance with agreed terms and to resolve disputes as quickly as possible to minimize the likelihood of disruption to supplies. Suppliers may raise enquiries or concerns regarding payments directly with our Finance Department by phone or email.
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
Afton Chemical Limited is a UK registered company based in Bracknell, incorporated in 1975. It was previously known as Edwin Cooper & Company Limited and later as Ethyl Petroleum Additives Limited before adopting its current name. Companies House records its business activities under classifications for other manufacturing not elsewhere classified and for research and experimental development on natural sciences and engineering, consistent with production of specialist chemical additives used within the petroleum and lubricants industry. The company remains active, filing annual accounts and confirmation statements. As a manufacturer of chemical additive products that serve as inputs into other companies' fuel and lubricant formulations, it operates within the raw materials and intermediate goods sector rather than as a finished consumer goods producer.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk