Ranked in 4 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
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.
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.
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.
| 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% |
This information is as reported by the business, and responses are in their own words.
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 information available
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
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.
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
This company, registered as McLaren Applied Limited, now trades as Motion Applied Limited. It designs and manufactures advanced engineering and technology products including engine control units, inverters, sensors and connectivity systems, drawing on over three decades of Formula One heritage. Its products serve motorsport, automotive, aerospace, defence, marine and transport markets, covering areas such as electrification, EV charging, 5G connectivity for public transport, and data systems like its ATLAS software used trackside in Formula 1. The company was formerly part of the McLaren Group and is now owned by Greybull Capital, an investment group with a broader portfolio across technology, engineering and manufacturing. It operates from Woking, with a production centre in Camberley and a US office.
Generated from the company's website and Companies House records. Sources: mclarenapplied.com · mclarenapplied.com · mclarenapplied.com