Registration Number
01626563
Registered Address
Farrington Road Rossendale Road Industrial Est Burnley Lancashire BB11 5DA
Company Status
Active
Employee Count
394
Turnover
£97,724,000
EBITDA
£11,703,000
Website
vekauk.com/Company Type
Public limited Company
Incorporated on
2 April 1982
Nature of Business (SIC)
22210 - Manufacture of plastic plates, sheets, tubes and profiles
Industries
Building materials, tools and accessories
Region
North West£6,887,000
£24,329,000
Filed
31 Jan 2024
Period
01 Jul 2023 - 31 Dec 2023
Average Time to Pay
47 days
Payment Periods
Shortest
14 days
Longest
0 days
Max Contractual
60 days
Not Paid Within Terms
6%
| 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 2023 - 31 Dec 2023 | 31 Jan 2024 | 47 | 21% | 47% | 31% | 6% |
| 01 Jan 2023 - 30 Jun 2023 | 17 Jul 2023 | 48 | 23% | 44% | 32% | 5% |
| 01 Jul 2022 - 31 Dec 2022 | 31 Jan 2023 | 50 | 18% | 45% | 36% | 6% |
| 01 Jul 2022 - 31 Dec 2022 | 31 Jan 2023 | |||||
| 01 Jan 2022 - 30 Jun 2022 | 25 Jul 2022 | 48 | 20% | 51% | 29% | 90% |
| 01 Jul 2021 - 31 Dec 2021 | 20 Jan 2022 | 51 | 16% | 46% | 38% | 5% |
| 01 Jul 2020 - 31 Dec 2020 | 25 Jan 2021 | 53 | 16% | 45% | 39% | 10% |
| 01 Jan 2020 - 30 Jun 2020 | 25 Jan 2021 | 48 | 25% | 42% | 33% | 19% |
| 01 Jul 2019 - 31 Dec 2019 | 25 Jan 2021 | 47 | 25% | 41% | 34% | 15% |
| 01 Jan 2019 - 30 Jun 2019 | 22 Jul 2019 | 47 | 25% | 43% | 32% | 81% |
| 01 Jul 2018 - 31 Dec 2018 | 24 Jan 2019 | 47 | 20% | 37% | 42% | 79% |
| 01 Jan 2018 - 30 Jun 2018 | 17 Jul 2018 | 46 | 21% | 38% | 42% | 78% |
VEKA PLC is a leading global manufacturer of high-quality PVCu window and door systems
Based in Burnley, Lancashire, the company has been in operation since 1986 and has established a strong reputation in the building and construction industry
The company's sustainability program is a key focus, with a commitment to reducing their environmental impact and promoting sustainable practices
This includes the use of recycled materials in their products and implementing energy-efficient processes in their manufacturing facilities
VEKA PLC offers a range of products and services, including windows, doors, conservatories, and building facades
These products are known for their durability, energy efficiency, and aesthetic appeal
The company also offers a bespoke design service to meet the specific needs of their customers
Key people in VEKA PLC include Dave Jones, the Managing Director, and Neil Evans, the Sales and Marketing Director
Both have extensive experience in the industry and are committed to driving the company's growth and success
The company's registered office address is VEKA PLC, Farrington Road, Burnley, Lancashire, BB11 5SS
Their website, www.vekauk.com, provides further information on their products, services, and sustainability efforts
VEKA PLC can also be contacted via phone at 01282 716611 or email at enquiries@veka.com
In conclusion, VEKA PLC is a renowned manufacturer of PVCu window and door systems with a strong focus on sustainability
Their high-quality products, bespoke design services, and experienced leadership make them a trusted choice for customers in the building and construction industry
The average time taken for VEKA PLC to pay invoices has remained relatively consistent over the past three periods, with only a slight increase from 46 days in 2018 to 48 days in 2023.
The percentage of invoices paid within 30 days has fluctuated between 20% and 25% over the past three periods, with a slight downward trend in the latest period. The percentage of invoices paid between 31 and 60 days has also varied between 37% and 51%, with a slight increase in the latest period. The most volatile metric is the percentage of invoices paid later than 60 days, which has ranged from 29% to 39% over the past three periods.
From 2018 to 2023, VEKA PLC has maintained an average time to pay invoices of around 47 days, with a slight increase to 48 days in the latest period. The percentage of invoices paid within 30 days has remained relatively stable at 20-25%, while the percentage of invoices paid between 31 and 60 days has increased from 37% to 44% over the past three periods. The most significant change is in the percentage of invoices paid later than 60 days, which has decreased from 42% in 2018 to 31% in 2023. However, there is still room for improvement as 5-6% of invoices are still not paid within agreed terms.
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Various payment as agreed with supplier. The standard terms are 60 days end of month
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
Disputes with suppliers are resolved by the internal buyer from the relevant department assisted by members of the Finance and Purchasing teams. If these efforts fail the Finance Director gets involved in the dispute.
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?
❌
