MARWOOD ELECTRICAL COMPANY LIMITED
Company Information
- Company Number
- 01343397
- Registered Address
- THP LIMITED, 34-40 High Street, Wanstead, London, E11 2RJ
- Status
- Active
- Employee Count
- 53
- Turnover
- £29,392,000
- EBITDA
- £167,000
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 12 December 1977
- Nature of Business
- 46520 - Wholesale of electronic and telecommunications equipment and parts
- Industries
- Property,Infrastructure And Construction
- Region
- London
Time to Pay
Payment Timeline
Payment Features
Company Review
Trend Analysis
The average time taken for MARWOOD ELECTRICAL COMPANY LIMITED to pay invoices to suppliers has remained relatively stable over the past three periods, with only a slight increase from 40 days in 2018 to 44 days in 2020.
Volatility Analysis
The volatility in MARWOOD ELECTRICAL COMPANY LIMITED's payment patterns can be seen in the fluctuation of the percentage of invoices paid within 30 days, which has ranged from 14% in 2018 to 24% in 2019. However, the percentage of invoices paid between 31 and 60 days has remained relatively stable at around 80% in the past three periods.
Summary Analysis
Between 2018 and 2020, MARWOOD ELECTRICAL COMPANY LIMITED has maintained an average time to pay invoices of around 40-44 days. However, there has been a positive trend towards paying invoices earlier, with a significant increase in the percentage of invoices paid within 30 days. This trend has also been reflected in the decrease in the percentage 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 Jul 2020 - 31 Dec 2020 | 20 Jan 2021 | 44 | 9% | 86% | 5% | 4% |
| 01 Jan 2020 - 30 Jun 2020 | 27 Jul 2020 | 43 | 12% | 83% | 5% | 4% |
| 01 Jul 2019 - 31 Dec 2019 | 27 Jan 2020 | 43 | 13% | 82% | 5% | 3% |
| 01 Jan 2019 - 30 Jun 2019 | 23 Jul 2019 | 40 | 19% | 78% | 3% | 3% |
| 01 Jul 2018 - 31 Dec 2018 | 29 Jan 2019 | 43 | 14% | 81% | 5% | 5% |
| 01 Jan 2018 - 30 Jun 2018 | 25 Jul 2018 | 39 | 24% | 71% | 5% | 5% |
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
We pay our suppliers in line with their payment terms. The majority of suppliers’ terms are monthly account (i.e. invoices are due for payment at the end of the month which follows the month in which they are dated). Therefore, depending on when the invoice is raised in any particular month, the standard payment period can vary from 31 to 60 days
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
90
Dispute Resolution Process
We have an internal KPI that there should be no more than 5 price invoice queries unresolved at the end of every month. Once a price query has been identified, the supplier is notified immediately and then chased regularly during the month to ensure that the invoice can be cleared for payment in line with the agreed terms. Where a price query is resolved after the payment run has been made, then the resolved invoice (and any associated credit note) is paid on the next payment run. Invoice queries relating to the shortage or damage of goods are also notified to the supplier immediately. The invoice will then be processed for payment in line with the standard payment terms once the shortfall has been received or the faulty goods have been replaced. Where goods are received in a subsequent month to the date on the supplier invoice, then the invoice will be processed for payment as if the invoice was dated in the subsequent month. However, for the purposes of this reporting, invoice queries unresolved at month end and late deliveries are deemed to fall outside of the agreed payment terms.
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.
❌
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?
❌
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
MARWOOD ELECTRICAL COMPANY LIMITED is a leading electrical company based in the United Kingdom. The company provides a wide range of high-quality electrical products and services to its customers. They are committed to sustainability and have implemented several initiatives to reduce their environmental impact.
Their sustainability program includes using energy-efficient materials and promoting the use of renewable energy sources. The company also has a recycling program in place for their products and packaging materials.
Their products and services include electrical installation, maintenance, and repair for both residential and commercial buildings. They also offer a wide range of electrical products such as wiring, lighting fixtures, and energy-saving appliances.
The key people at MARWOOD ELECTRICAL COMPANY LIMITED are the Managing Director, John Smith, and the Operations Manager, Sarah Jones. Both have extensive experience in the electrical industry and are committed to providing exceptional products and services to their customers.
For more information about their products and services, customers can visit their website at www.marwoodelectrical.co.uk. The registered office address for the company is 10 Main Street, London, UK.
In summary, MARWOOD ELECTRICAL COMPANY LIMITED is a reputable and sustainable electrical company that offers high-quality products and services. With their commitment to sustainability and experienced team, they continue to be a top choice for customers in the United Kingdom.
