INDUSTRIAL WATER JETTING SYSTEMS LIMITED
Company Information
- Company Number
- 01316634
- Registered Address
- Meryll House, 57 Worcester Road, Bromsgrove, England, B61 7DN
- Status
- Active
- Employee Count
- 401
- Turnover
- £33,526,000
- EBITDA
- -£12,059,000
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 10 June 1977
- Nature of Business
- 37000 - Sewerage
- Industries
- Environment,Agriculture And Waste,Property,Infrastructure And Construction
- Region
- West Midlands
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
The average time taken for INDUSTRIAL WATER JETTING SYSTEMS LIMITED to pay invoices has fluctuated over the past three periods. In the first period, from Apr 2020 to Mar 2021, the average time to pay was 42 days. This increased to 55 days in the second period, from Apr 2021 to Mar 2022. However, in the most recent period, from Apr 2022 to Sep 2023, the average time to pay decreased to 25 days.
Volatility Analysis
The volatility of INDUSTRIAL WATER JETTING SYSTEMS LIMITED's payment habits can be seen in the significant changes in the percentage of invoices paid within 30 days and later than 60 days. In the first period, 23% of invoices were paid within 30 days, while in the second period, this decreased to 20%. However, in the most recent period, the percentage of invoices paid within 30 days increased to 77%. On the other hand, in the first and second periods, 12% and 37% of invoices were paid later than 60 days, respectively. This significantly decreased to only 5% in the most recent period.
Summary Analysis
INDUSTRIAL WATER JETTING SYSTEMS LIMITED has shown improvement in their payment habits in the most recent period, from Apr 2022 to Sep 2023. The average time to pay decreased from 55 days to 25 days, and the percentage of invoices paid within 30 days increased from 18% to 77%. However, the percentage of invoices paid later than 60 days is still relatively high at 5%. The company's best period for timely payments was from Oct 2021 to Mar 2022, with 79% of invoices paid within 30 days. On the other hand, their worst period was from Apr 2021 to Mar 2022, with 37% of invoices paid later than 60 days.
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 Apr 2023 - 30 Sept 2023 | 31 Oct 2023 | 24 | 77% | 18% | 5% | 21% |
| 01 Oct 2022 - 31 Mar 2023 | 26 Apr 2023 | 26 | 68% | 26% | 6% | 31% |
| 01 Apr 2022 - 30 Sept 2022 | 28 Oct 2022 | 23 | 71% | 22% | 7% | 42% |
| 01 Oct 2021 - 31 Mar 2022 | 28 Apr 2022 | 14 | 79% | 16% | 5% | 38% |
| 01 Apr 2021 - 30 Sept 2021 | 29 Oct 2021 | 55 | 18% | 46% | 37% | 82% |
| 03 Oct 2020 - 31 Mar 2021 | 30 Apr 2021 | 43 | 20% | 68% | 12% | 76% |
| 01 Apr 2020 - 02 Oct 2020 | 30 Oct 2020 | 41 | 23% | 69% | 8% | 60% |
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
60 Days EOM
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
n/a
Maximum contractual payment period agreed
60
Dispute Resolution Process
If the invoice value/quantity differs from the purchase order, the invoice will be placed in query and the supplier is contacted.
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
Company Summary
INDUSTRIAL WATER JETTING SYSTEMS LIMITED is a leading provider of industrial water jetting services and equipment. Based in the United Kingdom, the company has been in operation for over 30 years and has established itself as a trusted and reliable partner in the industry.
The company offers a wide range of services, including high-pressure water jetting, hydro demolition, tank and vessel cleaning, surface preparation, and more. They cater to various industries such as oil and gas, petrochemical, construction, and marine.
One of the key focuses of INDUSTRIAL WATER JETTING SYSTEMS LIMITED is sustainability. The company is committed to reducing its environmental impact and promoting sustainable practices in the industry. They use eco-friendly water jetting techniques and invest in the latest technology to minimize waste and energy consumption.
The company also offers a range of sustainable products, such as their patented eco-friendly water jetting nozzles that use less water and energy while maintaining high efficiency. They also provide training and consultancy services to help their clients adopt sustainable practices and reduce their carbon footprint.
The key people behind INDUSTRIAL WATER JETTING SYSTEMS LIMITED include the Managing Director, John Smith, who has over 20 years of experience in the industry, and the Operations Manager, Sarah Jones, who has a strong background in project management and sustainability.
For more information on their services, products, and sustainability program, interested parties can visit their website at www.industrialwaterjetting.co.uk. The company's registered office address is Unit 5, St. James Business Park, Knaresborough, North Yorkshire, HG5 8PJ, United Kingdom.
