AFTON CHEMICAL LIMITED

Company Information

Company Number
01213092
Registered Address
London Road, Bracknell, Berkshire, RG12 2UW
Status
Active
Employee Count
222.0
Turnover
700043000.0
EBITDA
47799000.0

Additional Details

Company Type
Private limited Company
Incorporated On
19 May 1975
Nature of Business
32990 - Other manufacturing not elsewhere classified$72190 - Other research and experimental development on natural sciences and engineering
Industries
0
Region
South East

Company Location

Google
Map data ©2025
Map data ©2025

Financial Metrics

Cash
£3,973,000.00
Net Worth
£222,477,000.00
Total Current Assets
£285,252,000.00
Total Current Liabilities
£119,206,000.00
Reporting Period
2023-07-01 to 2023-12-31Filed: 2024-01-31

Time to Pay

Average Time to Pay
47 days
Shortest Period:60 days
Longest Period:90 days
Max Contractual:90 days

Payment Timeline

Within 30 Days
22%
31-60 Days
72%
After 60 Days
6%
Not Paid Within Terms11%

Payment Features

Participates in Codes✗ No
E-Invoicing✗ No
Supply Chain Finance✓ Yes

Payment Time Trends

Dec 2023Jun 2023Dec 2022Jun 2022Dec 2021Jun 2021Dec 2020Jun 2020Dec 2019Jun 2019Dec 2018Jun 2018015304560

Payment Distribution Trends

Dec 2023Jun 2023Dec 2022Jun 2022Dec 2021Jun 2021Dec 2020Jun 2020Dec 2019Jun 2019Dec 2018Jun 2018020406080

Performance Reports History

Reporting PeriodFiling DateAverage Time to Pay (days)Paid within 30 daysPaid 31-60 daysPaid after 60 daysNot Paid within Terms
01 Jul 2023 - 31 Dec 202331 Jan 20244722%72%6%11%
01 Jan 2023 - 30 Jun 202331 Jul 20234722%68%10%14%
01 Jul 2022 - 31 Dec 202218 Jan 20235024%62%13%18%
01 Jan 2022 - 30 Jun 202228 Jul 20224924%61%14%20%
01 Jul 2021 - 31 Dec 202131 Jan 20224726%62%12%20%
01 Jan 2021 - 30 Jun 202129 Jul 20214725%67%8%15%
01 Jul 2020 - 31 Dec 202020 Jan 20214141%51%8%21%
01 Jan 2020 - 30 Jun 202030 Jul 20203856%35%10%21%
01 Jul 2019 - 31 Dec 201930 Jan 20203760%33%7%22%
01 Jan 2019 - 30 Jun 201930 Jul 20194051%40%9%25%
01 Jul 2018 - 31 Dec 201831 Jan 20194454%27%19%29%
01 Jan 2018 - 30 Jun 201826 Jul 20184053%28%19%32%

Company Summary

AFTON CHEMICAL LIMITED is a leading global chemical company that specializes in developing innovative and sustainable solutions for the automotive, oil and gas, and industrial markets

Their products and services are focused on improving fuel efficiency, reducing emissions, and enhancing performance

The company has a strong commitment to sustainability and has implemented various initiatives to reduce their environmental impact

These include reducing waste, conserving energy, and using sustainable materials in their products

AFTON CHEMICAL LIMITED offers a range of products and services, including fuel additives, lubricant additives, and industrial additives

Their products are designed to improve engine performance, reduce emissions, and extend the life of equipment

The key people at AFTON CHEMICAL LIMITED include their CEO, Robert Shama, and their Chief Sustainability Officer, David H

Stein

Together, they lead a team of experts dedicated to finding sustainable solutions for their customers

As a global company, AFTON CHEMICAL LIMITED has offices and facilities across the world

Their registered office address is Afton Chemical Corporation, 500 Spring St, Richmond, VA 23219, USA

Their website address is www.aftonchemical.com, where customers can find more information about their products and services, as well as contact information for their various locations

Company Review

Trend Analysis

The average time for AFTON CHEMICAL LIMITED to pay invoices has fluctuated over the past three periods, with a slight decrease in the most recent period.

Volatility Analysis

The percentage of invoices paid within 30 days has fluctuated between 51% and 60%, while the percentage of invoices paid between 31 and 60 days has ranged from 27% to 51%. The volatility in these percentages suggests that the company's payment process may not be consistent.

Summary Analysis

Overall, the data for AFTON CHEMICAL LIMITED shows that the company has been consistently paying their invoices within 60 days. The percentage of invoices paid within 30 days has remained relatively stable, with a slight increase in the most recent period. However, there has been a significant improvement in the percentage of invoices paid later than 60 days, indicating that the company is making progress towards paying their suppliers on time.

Invoice Payment Practices

This information is as reported by the business, and responses are in their own words.

Payment Terms

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

Any other information about payment terms

NA

Maximum contractual payment period agreed

90

Dispute Resolution Process

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 establish a match then internal approval will be sought. • Payments are made in accordance with the 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.

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.

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.

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

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