MCLAREN APPLIED LIMITED
Company Information
- Company Number
- 02322992
- Registered Address
- Victoria Gate, Chobham Road, Woking, England, GU21 6JD
- Status
- Active
- Employee Count
- 248
- Turnover
- £34,598,000
- EBITDA
- £326,000
Additional Details
- Website
- https://mclarenapplied.com/
- Company Type
- Private limited Company
- Incorporated On
- 29 November 1988
- Nature of Business
- 29320 - Manufacture of other parts and accessories for motor vehicles
- Industries
- Supply Chain,Manufacturing And Commerce Models,Travel And Transportation
- Region
- South East
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
The average time taken by MCLAREN APPLIED LIMITED to pay invoices has been fluctuating over the past three years, with a slight increase in 2020 and a decrease in 2022. The percentage of invoices paid within 30 days has also been fluctuating, with a significant increase in 2022. The percentage of invoices paid between 31 and 60 days has been decreasing, while the percentage of invoices paid later than 60 days has been increasing. The percentage of invoices not paid within agreed terms has been fluctuating, with a significant decrease in 2022.
Volatility Analysis
The volatility of MCLAREN APPLIED LIMITED's average time to pay has been relatively low, with the largest change being a 13-day increase in 2020. The volatility of the percentage of invoices paid within 30 days has been slightly higher, with the largest change being a 7% increase in 2022. The volatility of the percentage of invoices paid between 31 and 60 days has been moderate, with the largest change being a 12% decrease in 2022. The volatility of the percentage of invoices paid later than 60 days has been high, with the largest change being a 21% increase in 2022. The volatility of the percentage of invoices not paid within agreed terms has been moderate, with the largest change being a 27% decrease in 2022.
Summary Analysis
From 2018 to 2022, MCLAREN APPLIED LIMITED's average time to pay invoices has fluctuated between 54 and 77 days. The percentage of invoices paid within 30 days has ranged from 5% to 14%, with a significant increase in 2022. The percentage of invoices paid between 31 and 60 days has ranged from 28% to 50%, with a significant decrease in 2022. The percentage of invoices paid later than 60 days has ranged from 40% to 65%, with a significant increase in 2022. The percentage of invoices not paid within agreed terms has ranged from 19% to 56%, with a significant decrease in 2022.
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 Jan 2022 - 30 Jun 2022 | 31 Jul 2022 | 54 | 22% | 38% | 40% | 23% |
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 56 | 12% | 46% | 43% | 22% |
| 01 Jan 2021 - 30 Jun 2021 | 15 Jul 2021 | 56 | 14% | 44% | 41% | 19% |
| 01 Jul 2020 - 31 Dec 2020 | 25 Jan 2021 | 69 | 13% | 42% | 46% | 31% |
| 01 Jan 2020 - 30 Jun 2020 | 29 Jul 2020 | 77 | 7% | 28% | 65% | 48% |
| 01 Jul 2019 - 31 Dec 2019 | 31 Jan 2020 | 63 | 9% | 44% | 46% | 19% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 62 | 10% | 40% | 50% | 47% |
| 01 Jul 2018 - 31 Dec 2018 | 31 Jan 2019 | 68 | 7% | 42% | 51% | 40% |
| 01 Jan 2018 - 30 Jun 2018 | 31 Jul 2018 | 64 | 5% | 50% | 44% | 56% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
McLaren's standard payment terms are End of Month +60 days (theoretical maximum 90 days). These standard terms are occasionally changed to facilitate contract renegotiation, with alternative terms agreed on individual basis.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
The raw data used to produce the payment practice reports does not take account of delays caused by ongoing discussions with the suppliers in reference to disputed goods.
Maximum contractual payment period agreed
60
Dispute Resolution Process
Suppliers can contact the Accounts Payable (AP) department via email or phone to enquire about unpaid invoices. Suppliers are informed if goods are rejected and if credit note is required. The invoice is put on hold until the credit note is supplied for the rejected goods. The AP department contacts the suppliers to resolve any disputed invoices.
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.
❌
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?
No information available
Company Summary
MCLAREN APPLIED LIMITED is a British engineering and technology company that specializes in providing innovative solutions for industries such as automotive, aerospace, and transportation. The company was founded in 1989 and is headquartered in Woking, Surrey.
The main focus of MCLAREN APPLIED LIMITED is on sustainability, with the aim of developing and implementing sustainable solutions for their clients. The company has a dedicated sustainability program that focuses on reducing their environmental impact and promoting sustainable practices within the organization.
MCLAREN APPLIED LIMITED offers a wide range of products and services, including advanced simulation and modelling, data science, and digital products. They also provide consultancy services to help their clients improve their sustainability performance.
The company is led by a team of experienced and skilled individuals, including the CEO, Mike Flewitt, and the Managing Director, Rodi Basso. Their expertise and leadership have helped MCLAREN APPLIED LIMITED become a leading name in the engineering and technology industry.
For more information about MCLAREN APPLIED LIMITED and their services, you can visit their website at https://www.mclaren.com/applied/. Their registered office address is McLaren Technology Centre, Chertsey Road, Woking, Surrey GU21 4YH.
