INDUSTRIAL CHEMICALS GROUP LIMITED
Company Information
- Company Number
- 01248371
- Registered Address
- Jupiter House Warley Hill Business Park, The Drive, Brentwood, Essex, CM13 3BE
- Status
- Active
- Employee Count
- 473
- Turnover
- £169,768,000
- EBITDA
- £12,841,000
Additional Details
- Website
- https://www.icgl.co.uk/
- Company Type
- Private limited Company
- Incorporated On
- 10 March 1976
- Nature of Business
- 20590 - Manufacture of other chemical products not elsewhere classified
- Industries
- Distribution And Delivery, Raw Materials And Intermediate Goods
- Region
- East of England
Time to Pay
Payment Timeline
Payment Features
Company Review
Trend Analysis
INDUSTRIAL CHEMICALS GROUP LIMITED demonstrates a clear trend of extended payment cycles, with an average payment time of 71 days. A substantial 61% of invoices are consistently paid over 60 days, indicating a deeply entrenched pattern of slow settlement. Conversely, only 8% of payments are settled within 30 days, reinforcing a consistent trajectory towards delayed financial obligations.
Volatility Analysis
The high percentage of payments occurring over 60 days (61%) indicates a low level of reliability regarding prompt payment for suppliers, though this slowness appears systemic rather than highly erratic. While only 7% are formally flagged as 'late,' the predominant payment pattern suggests a predictable but undesirable cash flow impact for suppliers. This consistency in slowness reduces payment predictability for suppliers expecting standard terms.
Summary Analysis
Suppliers should anticipate significantly extended payment terms when dealing with INDUSTRIAL CHEMICALS GROUP LIMITED, as most invoices will exceed 60 days for settlement. This entity presents a higher credit risk due to its prevalent slow payment culture, necessitating careful cash flow management and clear upfront agreements. Mitigation strategies could include negotiating shorter payment terms, requesting upfront payments, or implementing stricter credit limits.
Performance Reports History
| 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 2019 - 30 Jun 2019 | 11 Oct 2019 | 71 | 8% | 31% | 61% | 7% |
| 01 Jul 2018 - 31 Dec 2018 | 08 May 2019 | 80 | 42% | 28% | 30% | 10% |
| 01 Jan 2018 - 30 Jun 2018 | 08 May 2019 | 70 | 29% | 41% | 30% | 10% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Our standard payment terms for larger suppliers is 60 days, but some accommodation can be made for smaller companies at 30 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
Dispute Resolution Process
We discuss any issues in advance with suppliers.
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.
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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
Company Summary
INDUSTRIAL CHEMICALS GROUP LIMITED is an active private limited company operating within the industrial chemicals sector.
Incorporated on 10 March 1976, the company holds company number 01248371. Its registered office is located at Jupiter House Warley Hill Business Park, The Drive, Brentwood, Essex, CM13 3BE, placing it within the East of England region.
Companies operating within the industrial chemicals sector in the UK typically specialise in the production, supply, and distribution of a wide range of chemical products. These can include raw materials, speciality chemicals, and formulated products used across various industries such as manufacturing, agriculture, water treatment, and pharmaceuticals. They may also provide related services such as technical support and logistics.
