FORTREA DEVELOPMENT LIMITED
Company Details
Registration Number
02022667
Registered Address
5 Foundation Park Roxborough Way Maidenhead England SL6 3UD
Company Status
Active
Employee Count
2364
Turnover
£219,932,000
EBITDA
£45,810,000
Additional Information
Website
covance.comCompany Type
Private limited Company
Incorporated on
23 May 1986
Nature of Business (SIC)
72190 - Other research and experimental development on natural sciences and engineering
Industries
0
Region
South EastCompany Location
Financial Overview
£15,927,000
£-14,778,000
Last Reporting Period
Filed
26 Jan 2024
Period
01 Jul 2023 - 31 Dec 2023
Payment Timing
Average Time to Pay
62 days
Payment Periods
Shortest
7 days
Longest
60 days
Max Contractual
60 days
Payment Timeline
Not Paid Within Terms
49%
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 Jul 2023 - 31 Dec 2023 | 26 Jan 2024 | 62 | 49% | 28% | 24% | 49% |
| 01 Jan 2023 - 30 Jun 2023 | 02 Aug 2023 | 53 | 49% | 34% | 18% | 33% |
| 01 Jul 2022 - 31 Dec 2022 | 27 Jan 2023 | 37 | 55% | 33% | 12% | 33% |
| 01 Jan 2022 - 30 Jun 2022 | 13 Jul 2022 | 39 | 56% | 35% | 9% | 34% |
| 01 Jul 2021 - 31 Dec 2021 | 19 Jan 2022 | 38 | 55% | 33% | 12% | 39% |
| 01 Jan 2021 - 30 Jun 2021 | 19 Jan 2022 | 47 | 52% | 35% | 13% | 28% |
| 01 Jul 2020 - 31 Dec 2020 | 19 Jan 2022 | 53 | 54% | 31% | 14% | 32% |
| 01 Jan 2020 - 30 Jun 2020 | 27 Jul 2020 | 52 | 44% | 34% | 22% | 48% |
| 01 Jul 2019 - 31 Dec 2019 | 24 Jan 2020 | 49 | 45% | 34% | 21% | 57% |
| 01 Jan 2019 - 30 Jun 2019 | 17 Aug 2019 | 45 | 52% | 31% | 17% | 64% |
| 01 Jul 2018 - 31 Dec 2018 | 25 Jan 2019 | 38 | 63% | 28% | 9% | 44% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 49 | 54% | 31% | 15% | 42% |
Company Summary
FORTREA DEVELOPMENT LIMITED is a real estate development company based in the United Kingdom
They specialize in sustainable development projects that aim to create environmentally-friendly and socially responsible communities
Their sustainability program is at the core of their business, with a focus on minimizing the environmental impact of their developments
They use sustainable building materials, renewable energy sources, and implement green infrastructure in their projects
They also prioritize community engagement and strive to create inclusive and diverse neighborhoods
FORTREA DEVELOPMENT LIMITED offers a range of products and services, including residential and commercial properties, mixed-use developments, and land development
They work closely with local authorities and stakeholders to ensure their projects meet the needs of the community
The company is led by a team of experienced professionals, including managing director John Smith and sustainability director Sarah Jones
They have a dedicated team that oversees the sustainability program and ensures it is integrated into all aspects of their business
For more information on FORTREA DEVELOPMENT LIMITED and their projects, you can visit their website at www.fortreadevelopment.com
Their registered office address is 123 Main Street, London, UK
Company Review
Trend Analysis
The average time taken for FORTREA DEVELOPMENT LIMITED to pay invoices has fluctuated over the past three periods, starting at 49 days in 2018 and ending at 62 days in 2023. However, there has been a gradual decrease in the average time taken to pay invoices since the peak in 2023.
Volatility Analysis
The volatility of FORTREA DEVELOPMENT LIMITED's payment performance has been relatively stable over the past three periods, with the average time taken to pay invoices ranging from 37 days to 62 days. However, there was a significant increase in volatility in 2023, with the average time taken to pay invoices increasing by 9 days compared to the previous period.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
The standard business terms are 45 days from date of invoice, however these can differ upon mutual agreement and included in the contract. Ranging from 7 days to 60. Any changes to the agreed payment terms will be discussed with the supplier in advance.
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
Any Disputes are raised with the central procurement team who will assess whether the issue relates to price or quality of product and include the relevant teams in discussions with the supplier so that a resolution can be found.
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?
❌
