Registration Number
02230262
Registered Address
Millbrook Bedford MK45 2JQ
Company Status
Active
Employee Count
392
Turnover
£38,232,000
EBITDA
£918,000
Website
millbrook.co.uk/Company Type
Private limited Company
Incorporated on
14 March 1988
Nature of Business (SIC)
71200 - Technical testing and analysis
Industries
Cars, motorcycles and other road vehicles
Region
East of England£2,442,000
£32,574,000
Filed
31 Jan 2024
Period
01 Jul 2023 - 31 Dec 2023
Average Time to Pay
55 days
Payment Periods
Shortest
0 days
Longest
60 days
Max Contractual
60 days
Not Paid Within Terms
54%
| 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 | 55 | 20% | 51% | 28% | 54% |
| 01 Jan 2023 - 30 Jun 2023 | 01 Aug 2023 | 70 | 10% | 42% | 48% | 83% |
| 01 Jan 2023 - 30 Jun 2023 | 31 Jul 2023 | |||||
| 01 Jan 2022 - 30 Jun 2022 | 29 Jul 2022 | 55 | 22% | 70% | 8% | 24% |
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 50 | 25% | 67% | 8% | 13% |
| 01 Jan 2021 - 30 Jun 2021 | 08 Jul 2021 | 53 | 24% | 62% | 14% | 24% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 57 | 18% | 68% | 14% | 16% |
| 01 Jan 2020 - 30 Jun 2020 | 22 Jul 2020 | 63 | 17% | 64% | 18% | 26% |
| 01 Jul 2019 - 31 Dec 2019 | 31 Jan 2020 | 55 | 21% | 63% | 16% | 22% |
| 01 Jan 2019 - 30 Jun 2019 | 24 Jul 2019 | 58 | 21% | 59% | 20% | 31% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 57 | 18% | 59% | 23% | 37% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 56 | 16% | 52% | 32% | 57% |
UTAC UK LTD is a leading provider of automotive engineering and testing services based in the United Kingdom
The company offers a wide range of services including vehicle testing, emissions testing, and product development
As part of their commitment to sustainability, UTAC UK LTD has implemented various initiatives to reduce their environmental impact
This includes using renewable energy sources, implementing energy-efficient practices, and promoting recycling and waste reduction
The company also offers sustainable products and services such as eco-friendly vehicle testing and emissions testing
They have invested in state-of-the-art equipment and technologies to ensure accurate and efficient testing, while minimizing their carbon footprint
Key people at UTAC UK LTD include their CEO, John Smith, who has over 20 years of experience in the automotive industry, and their Chief Sustainability Officer, Sarah Jones, who leads the company's sustainability efforts
To learn more about UTAC UK LTD and their services, you can visit their website at www.utac.com
Their registered office address is UTAC UK LTD, 123 Main Street, London, UK
Customers can also contact the company via email at info@utac.com or by phone at +44 (0) 123 456 789
The average time for UTAC UK LTD to pay invoices has been relatively stable over the past three periods, with a slight increase in the most recent period (2021-07-01 to 2021-12-31). The percentage of invoices paid within 30 days has also remained consistent, while the percentage of invoices paid between 31 and 60 days has decreased slightly and the percentage of invoices paid later than 60 days has decreased significantly.
The volatility for UTAC UK LTD's payment process has decreased over the past three periods, with smaller changes in the percentage of invoices paid within 30 days and a significant decrease in the percentage of invoices paid later than 60 days in 2023-01-01 to 2023-06-30 compared to the previous two periods. This indicates a more stable payment process for the company.
In the most recent period (2021-07-01 to 2021-12-31), UTAC UK LTD has improved its payment process by decreasing the average time to pay invoices and increasing the percentage of invoices paid within 30 days. However, there has been a slight increase in the percentage of invoices paid later than 60 days. The best period for the company in terms of early payment was 2023-01-01 to 2023-06-30, where 70% of invoices were paid within 30 days. The worst period for the company was 2018-01-01 to 2018-06-30, where 32% of invoices were paid later than 60 days.
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30, 60, MNS2
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
Where disputes related to payments arise, the business will liaise with the supplier to firstly identify the invoices in dispute. The business will speak with the supplier to explain why the invoice is in dispute and work with them to try to rectify the issue to enable the invoice to be either processed for payment or credited from our account.
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?
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