W WING YIP LONDON LIMITED
Company Details
Registration Number
01338172
Registered Address
375 Nechells Park Road Nechells Birmingham B7 5NT
Company Status
Active
Employee Count
135
Turnover
£79,110,000
EBITDA
£2,069,000
Additional Information
Website
wingyip.comCompany Type
Private limited Company
Incorporated on
9 November 1977
Nature of Business (SIC)
46900 - Non-specialised wholesale trade
47110 - Retail sale in non-specialised stores with food, beverages or tobacco predominating
47190 - Other retail sale in non-specialised stores
Industries
0
Region
West MidlandsCompany Location
Financial Overview
£958,000
£40,699,000
Last Reporting Period
Filed
26 Oct 2023
Period
01 Apr 2023 - 30 Sep 2023
Payment Timing
Average Time to Pay
39 days
Payment Periods
Shortest
1 days
Longest
60 days
Max Contractual
60 days
Payment Timeline
Not Paid Within Terms
81%
Payment Features
Payment Time Trends
Payment Distribution Trends
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 Sep 2023 | 26 Oct 2023 | 39 | 18% | 73% | 9% | 81% |
| 01 Oct 2022 - 31 Mar 2023 | 21 Apr 2023 | 42 | 19% | 71% | 10% | 82% |
| 01 Apr 2022 - 30 Sep 2022 | 31 Oct 2022 | 42 | 20% | 71% | 9% | 78% |
| 01 Oct 2021 - 31 Mar 2022 | 28 Apr 2022 | 43 | 18% | 70% | 12% | 82% |
| 01 Apr 2021 - 30 Sep 2021 | 21 Oct 2021 | 45 | 12% | 75% | 13% | 86% |
| 01 Oct 2020 - 31 Mar 2021 | 29 Apr 2021 | 49 | 11% | 70% | 19% | 86% |
| 01 Apr 2020 - 30 Sep 2020 | 30 Oct 2020 | 50 | 12% | 68% | 20% | 86% |
| 01 Oct 2019 - 31 Mar 2020 | 30 Apr 2020 | 48 | 11% | 72% | 17% | 85% |
| 01 Apr 2019 - 30 Sep 2019 | 31 Oct 2019 | 47 | 13% | 70% | 17% | 81% |
| 01 Oct 2018 - 31 Mar 2019 | 30 Apr 2019 | 46 | 13% | 69% | 18% | 82% |
| 01 Apr 2018 - 30 Sep 2018 | 02 Nov 2018 | 46 | 12% | 71% | 17% | 84% |
| 01 Oct 2017 - 31 Mar 2018 | 02 May 2018 | 45 | 12% | 71% | 17% | 83% |
Company Summary
W
Wing Yip (London) Limited is a UK-based company that specializes in the import and distribution of authentic Asian food products
The company was established in 1970 by Mr
Wing Yip and has since grown to become a leading supplier of Asian food products in the UK
The company prides itself on its sustainability program, which focuses on promoting responsible sourcing and reducing its environmental impact
They have implemented various initiatives such as using eco-friendly packaging materials and partnering with sustainable suppliers
W
Wing Yip (London) Limited also supports local communities and charities through donations and volunteering
Their product range includes a variety of Asian food products such as noodles, sauces, spices, and snacks from countries like China, Japan, Thailand, and Korea
They also offer a range of kitchenware and cookware to help customers prepare authentic Asian dishes at home
The key people at W
Wing Yip (London) Limited include the founder and chairman, Mr
Wing Yip, and his sons, Mr
Brian Yip and Mr
Stanley Yip, who serve as directors of the company
They are committed to providing high-quality products and excellent customer service
The company's website is www.wingyip.com, where customers can browse and purchase their products online
The registered office address is 375 Nechells Park Road, Nechells, Birmingham, B7 5NT, UK
In summary, W
Wing Yip (London) Limited is a sustainable company that offers a wide range of authentic Asian food products and kitchenware
With its strong commitment to sustainability and community involvement, the company continues to be a trusted and popular choice for Asian food enthusiasts in the UK
Company Review
Trend Analysis
The average time taken for W. WING YIP (LONDON) LIMITED to pay invoices has been increasing steadily over the past 6 years. However, there was a slight decrease in the last two periods.
Volatility Analysis
The percentage of invoices paid within 30 days and between 31 and 60 days has remained relatively stable over the past 6 years, while the percentage of invoices paid later than 60 days has fluctuated between 9-20%. The percentage of invoices not paid within agreed terms has also remained stable at around 80-86%.
Summary Analysis
From 2017 to 2023, W. WING YIP (LONDON) LIMITED has seen a slight increase in the average time taken to pay invoices, from 45 days to 42 days. However, there was a decrease in the last two periods. The company has consistently paid 12-13% of their invoices within 30 days, with 71-75% paid between 31-60 days. The worst period for late payments was in 2020-2021, where 20% of invoices were paid later than 60 days. The company has also consistently not paid 80-86% of their invoices within agreed terms. The shortest standard payment period for the company has remained at 1 day throughout the 6 year period.
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 are 42 days unless suppliers payment terms are applied which can be longer or shorter than standard.
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
Invoices are matched to PO's on receipt by our Accounts Payable Team. Any invoice variances are sent to the buyer for approval. If the buyer disputes the invoice, the Accounts Payable Team e-mail the supplier with a credit requestor a request for proof of delivery typically within 48 hours. Once full credit or proof of delivery has been received, the invoice and any credits are processed ready for payment. If in the meantime the invoice has become due for payment, the invoice is added to the next bacs run (weekly). If the Accounts Payable Team are unable to resolve a dispute or query, the dispute is escalated to the Group Financial Controller for resolution.
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?
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