The average time taken for SMC PNEUMATICS (U.K.) LIMITED to pay invoices has increased over the three periods analyzed. In the first period, from Apr 2018 to Sep 2018, it took the company an average of 28 days to pay invoices. This increased to 30 days in the second period (Oct 2018 to Mar 2019), and further increased to 32 days in the third period (Apr 2019 to Sep 2019).
There is a noticeable increase in the percentage of invoices paid between 31 to 60 days in the second and third periods compared to the first period. This indicates that the company may be experiencing some volatility in their payment practices. However, the percentage of invoices paid later than 60 days has remained constant at 5% in all three periods.
In the first period, SMC PNEUMATICS (U.K.) LIMITED paid invoices within an average of 28 days, with 75% of invoices paid within 30 days. However, there was a slight increase in the percentage of invoices paid between 31 to 60 days (20%) and those not paid within agreed terms (25%). The shortest (or only) standard payment period was 7 days.
| 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 2018 - 30 Sept 2018 | 27 Nov 2018 | 28 | 75% | 20% | 5% | 25% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 Days Nett
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
30
If an Invoice is in query, the person who has purchasesd the goods (raised the purchase requisition) will contact the supplier to find an amicable solution. There have been no instances during this accounting period where we have failed to find an agreeable solution.
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
SMC Pneumatics (U.K.) Limited is the UK operation of SMC, a global manufacturer of pneumatic and electric automation equipment. Its own site describes it as 'developing pneumatic and automation solutions for a wide range of process and factory industries' and states the wider group employs over 20,000 people worldwide across 83 locations. Products include actuators, directional control valves, airline equipment, fittings, vacuum components, fluid control equipment, sensors and static control devices, supplied to sectors such as automotive, robotics and medical technology. The company, incorporated in 1978 and registered in Milton Keynes, is classified under manufacture of fluid power equipment, reflecting its role within the SMC group's UK manufacturing and supply operations for industrial automation components.
Generated from the company's website and Companies House records. Sources: smc.uk · smc.uk