LG ELECTRONICS UK LTD
Company Information
- Company Number
- 02143888
- Registered Address
- Velocity 2 Brooklands Drive, Weybridge, Surrey, KT13 0SL
- Status
- Active
- Employee Count
- 233.0
- Turnover
- 654321000.0
- EBITDA
- 23955000.0
Additional Details
- Website
- https://www.lg.com/uk/
- Company Type
- Private limited Company
- Incorporated On
- 1 July 1987
- Nature of Business
- 46520 - Wholesale of electronic and telecommunications equipment and parts$47910 - Retail sale via mail order houses or via Internet
- Industries
- 0
- Region
- South East
Company Location
Financial Metrics
Time to Pay
Payment Timeline
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 | 31 Jan 2024 | 33 | 54% | 41% | 5% | 42% |
| 01 Jan 2023 - 30 Jun 2023 | 03 Aug 2023 | 33 | 51% | 43% | 6% | 46% |
| 01 Jul 2022 - 31 Dec 2022 | 30 Jan 2023 | 35 | 41% | 51% | 8% | 53% |
| 01 Jan 2022 - 30 Jun 2022 | 29 Jul 2022 | 35 | 46% | 46% | 8% | 51% |
| 01 Jul 2021 - 31 Dec 2021 | 18 Mar 2022 | 34 | 46% | 47% | 7% | 47% |
| 01 Jan 2021 - 30 Jun 2021 | 26 Jul 2021 | 33 | 46% | 50% | 5% | 53% |
| 01 Jul 2020 - 31 Dec 2020 | 27 Jan 2021 | 33 | 56% | 40% | 4% | 45% |
| 01 Jan 2020 - 30 Jun 2020 | 24 Jul 2020 | 34 | 47% | 48% | 5% | 49% |
| 01 Jul 2019 - 31 Dec 2019 | 28 Jan 2020 | 35 | 47% | 47% | 6% | 51% |
| 01 Jan 2019 - 30 Jun 2019 | 19 Jul 2019 | 34 | 47% | 48% | 5% | 51% |
| 01 Jul 2018 - 31 Dec 2018 | 16 Jan 2019 | 34 | 45% | 49% | 6% | 53% |
| 01 Jan 2018 - 30 Jun 2018 | 25 Jul 2018 | 35 | 47% | 46% | 6% | 51% |
Company Summary
LG Electronics U.K
Ltd is a subsidiary of the global electronics company, LG Electronics
The company is headquartered in London and has been operating in the United Kingdom since 1972
LG Electronics U.K
Ltd is responsible for the sales, marketing, and distribution of LG products in the U.K
The company's sustainability program, "Life's Good for a Greener Tomorrow," focuses on reducing their carbon footprint and promoting eco-friendly practices
They have implemented energy-efficient technologies in their products and have also taken steps to reduce waste and increase recycling
LG Electronics U.K
Ltd offers a wide range of products including televisions, home appliances, mobile phones, and computer products
They are known for their innovative and high-quality products, such as their OLED TVs and home appliances with smart technology
The key people at LG Electronics U.K
Ltd include the managing director, Mr
Kwang-Ryul Choi, and the marketing director, Mr
Andrew Mackay
They lead a team of dedicated professionals who strive to provide the best products and services to their customers
The registered office address for LG Electronics U.K
Ltd is 250 Bath Road, Slough, Berkshire, SL1 4DX
The company's website address is www.lg.com/uk
Customers can contact the company through their website or by phone at 0344 847 5454
In conclusion, LG Electronics U.K
Ltd is a leading electronics company in the U.K
with a strong focus on sustainability and providing high-quality products and services
Their commitment to innovation and eco-friendly practices makes them a trusted brand among British consumers
Company Review
Trend Analysis
The data shows that the average time taken for LG ELECTRONICS U.K. LTD to pay invoices has remained relatively consistent over the past three periods, with only a slight decrease from 35 days in 2018 to 33 days in 2023. However, there has been a significant increase in the percentage of invoices paid within 30 days, from 47% in 2018 to 54% in 2023. This indicates a trend towards faster payment times for the company.
Volatility Analysis
The data also shows a consistent volatility in the percentage of invoices paid within 30 days, with a range of 45-56% over the past three periods. However, there has been a decrease in the volatility of invoices paid later than 60 days, with a range of 4-8% over the same period.
Summary Analysis
Overall, LG ELECTRONICS U.K. LTD has shown a trend towards faster payment times for suppliers, with an increase in the percentage of invoices paid within 30 days. However, there is still room for improvement as the percentage of invoices paid later than 60 days remains consistently above 5%.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Generally we have payment terms 15, 30, 45 and 60 days but standard and common payment term is 45 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
60
Dispute Resolution Process
We have an PIC of Accounts Payable who deals with any issues raised and resolve.
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?
No information available