HYDRAFORCE HYDRAULICS LIMITED
Company Information
- Company Number
- 02286591
- Registered Address
- Advanced Manufacturing Hub, 250 Aston Hall Road, Birmingham, England, B6 7FE
- Status
- Active
- Employee Count
- 628.0
- Turnover
- 138631000.0
- EBITDA
- 12388000.0
Additional Details
- Website
- https://hydraforce.com
- Company Type
- Private limited Company
- Incorporated On
- 12 August 1988
- Nature of Business
- 28120 - Manufacture of fluid power equipment
- Industries
- 0
- Region
- West Midlands
Company Location
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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 | 64 | 12% | 43% | 45% | 34% |
| 01 Jan 2023 - 30 Jun 2023 | 13 Jul 2023 | 63 | 8% | 42% | 50% | 16% |
| 01 Jul 2022 - 31 Dec 2022 | 31 Jan 2023 | 68 | 8% | 34% | 58% | 60% |
| 01 Jan 2022 - 30 Jun 2022 | 28 Jul 2022 | 66 | 11% | 36% | 53% | 57% |
| 01 Jul 2021 - 31 Dec 2021 | 31 Jan 2022 | 46 | 13% | 79% | 8% | 14% |
| 01 Jan 2021 - 30 Jun 2021 | 22 Jul 2021 | 49 | 20% | 70% | 10% | 17% |
| 01 Jul 2020 - 31 Dec 2020 | 26 Jan 2021 | 45 | 24% | 64% | 12% | 32% |
| 01 Jan 2020 - 30 Jun 2020 | 23 Jul 2020 | 48 | 15% | 65% | 20% | 45% |
| 01 Jul 2019 - 31 Dec 2019 | 27 Jan 2020 | 43 | 25% | 61% | 14% | 49% |
| 01 Jan 2019 - 30 Jun 2019 | 11 Jul 2019 | 52 | 23% | 46% | 31% | 46% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 62 | 11% | 38% | 51% | 63% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 59 | 8% | 45% | 47% | 65% |
Company Summary
Hydraforce Hydraulics Limited is a UK-based company that specializes in the design and manufacture of hydraulic valves and control solutions
The company was founded in 1985 and has since grown to become a leading supplier in the hydraulic industry
The company's main focus is on providing high-quality and innovative products to its customers
They offer a wide range of hydraulic valves, including directional, proportional, and pressure control valves
These valves are used in various industries such as agriculture, construction, and mining
In addition to their products, Hydraforce Hydraulics Limited also has a strong commitment to sustainability
They have implemented a sustainability program that focuses on reducing their environmental impact and promoting responsible business practices
This includes using eco-friendly materials in their products, reducing energy consumption, and minimizing waste
The key people at Hydraforce Hydraulics Limited include the managing director, David Scammell, and the sales director, Mike Elwell
Both have extensive experience in the hydraulic industry and are dedicated to driving the company's success
For those interested in learning more about Hydraforce Hydraulics Limited, their website is www.hydraforce.com
Their registered office address is located in Birmingham, UK, but they also have manufacturing facilities in other countries such as the USA, China, and Brazil
In summary, Hydraforce Hydraulics Limited is a reputable company that offers high-quality hydraulic valves and solutions while also prioritizing sustainability and responsible business practices
Their experienced team, innovative products, and commitment to sustainability make them a top choice for customers in need of hydraulic solutions
Company Review
Trend Analysis
The average time taken for HYDRAFORCE HYDRAULICS LIMITED to pay invoices has fluctuated over the past three periods, with a slight decrease in 2021 and a slight increase in 2022. Overall, the trend has remained relatively stable with an average time to pay of 59 days in 2018 and 63 days in 2023.
Volatility Analysis
The volatility of HYDRAFORCE HYDRAULICS LIMITED's payment habits can be seen in the significant changes in their percentage of invoices paid within 30 days and those paid later than 60 days. In 2018, only 8% of invoices were paid within 30 days, but this increased to 25% in 2019 before dropping again to 13% in 2021. Similarly, the percentage of invoices paid later than 60 days increased from 47% in 2018 to 58% in 2022 before decreasing to 45% in 2023.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
The majority of the payment terms contained within the MRP system are 'either' 31 days from End of Month (38% of vendors) and 62 days from End of Month (62% of vendors). This means that an invoice dated/received on the 1st day of the month could take upto 62 days for payment for 31 days EoM vendors or 92 days for payment for 62 days EoM vendors. The main invoice payment run is the final week of the Month paying all invoices due at Month End. During the Reporting Period, invoices on Average were paid 8 days late.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
At the 31 December, the Aged Listing by vendor was very clean. From approximately 1,838 invoices on the Listing only 11% were overdue. These invoices would have been paid during January 2024.
Maximum contractual payment period agreed
92
Dispute Resolution Process
Hydraforce is committed to paying all of its suppliers to the terms agreed. All concerns or complaints regarding the non-payment of an invoice should be initially directed to UKAccountsPayable@Hydraforce.com along with a copy of the invoice/(s) in question. Please ensure you also ‘cc’ your Purchasing Representative in the e-mail as they are responsible for the resolution of all queries (including Price, Quantity and Quality). If you are unsure who your Purchasing Representative is, it is normally the person who submitted the Purchase Order to your Company. Accounts Payable will liaise with Purchasing in an attempt to ensure all invoice queries are resolved in a timely manner. We endeavour to resolve all queries within two weeks, however, if you feel you are not being treated fairly, you should contact the Financial Controller. Alternatively contact Accounts Payable on 0121 333 1800 pressing 2 when prompted.
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
