QUARTZELEC LTD
Company Details
Registration Number
02364716
Registered Address
Quartzelec Ltd Castle Mound Way Central Park Rugby Warwickshire CV23 0WB
Company Status
Active
Employee Count
562
Turnover
£73,879,000
EBITDA
£4,888,000
Additional Information
Website
www.quartzelec.com/Company Type
Private limited Company
Incorporated on
22 March 1989
Nature of Business (SIC)
25990 - Manufacture of other fabricated metal products not elsewhere classified
27110 - Manufacture of electric motors, generators and transformers
33140 - Repair of electrical equipment
43210 - Electrical installation
Industries
Heating, ventilation, air conditioning and mechanical and electrical systems
Region
West MidlandsCompany Location
Financial Overview
£9,954,000
£16,348,000
Last Reporting Period
Filed
18 Oct 2023
Period
01 Apr 2023 - 30 Sep 2023
Payment Timing
Average Time to Pay
61 days
Payment Periods
Shortest
70 days
Longest
101 days
Max Contractual
120 days
Payment Timeline
Not Paid Within Terms
11%
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 Apr 2023 - 30 Sep 2023 | 18 Oct 2023 | 61 | 14% | 25% | 61% | 11% |
| 01 Oct 2022 - 31 Mar 2023 | 20 Apr 2023 | 64 | 12% | 22% | 66% | 12% |
| 01 Apr 2022 - 30 Sep 2022 | 12 Oct 2022 | 64 | 12% | 26% | 62% | 12% |
| 01 Oct 2021 - 31 Mar 2022 | 14 Apr 2022 | 64 | 10% | 24% | 66% | 11% |
| 01 Apr 2021 - 30 Sep 2021 | 15 Oct 2021 | 69 | 5% | 26% | 69% | 11% |
| 01 Oct 2020 - 31 Mar 2021 | 26 Apr 2021 | 68 | 11% | 22% | 67% | 12% |
| 01 Apr 2020 - 30 Sep 2020 | 26 Oct 2020 | 68 | 11% | 22% | 67% | 11% |
| 01 Oct 2019 - 31 Mar 2020 | 29 Apr 2020 | 68 | 7% | 23% | 70% | 8% |
| 01 Apr 2019 - 30 Sep 2019 | 25 Oct 2019 | 67 | 7% | 26% | 67% | 9% |
| 01 Oct 2018 - 31 Mar 2019 | 26 Apr 2019 | 67 | 8% | 25% | 67% | 8% |
| 01 Apr 2018 - 30 Sep 2018 | 26 Oct 2018 | 67 | 7% | 25% | 67% | 31% |
| 01 Oct 2017 - 31 Mar 2018 | 27 Apr 2018 | 70 | 7% | 20% | 73% | 54% |
Company Summary
QUARTZELEC LTD is a British company that specializes in the design, supply, installation, and maintenance of electrical and mechanical systems
The company was founded in 1979 and is headquartered in Bedford, England
Sustainability is an integral part of QUARTZELEC's operations, and the company has implemented various initiatives to reduce its environmental impact
These include using energy-efficient equipment and materials, promoting recycling and waste reduction, and investing in renewable energy sources
QUARTZELEC's primary products and services include electrical and mechanical engineering, power generation and distribution, and control and automation systems
The company serves a wide range of industries, including oil and gas, renewable energy, transportation, and manufacturing
The key people at QUARTZELEC LTD include Mr
David Smith, the Managing Director, and Mr
Mark Bull, the Operations Director
Both individuals have extensive experience in the industry and are committed to driving the company's success and sustainability efforts
To contact QUARTZELEC LTD, individuals can visit their website at www.quartzelce.co.uk or reach out to their registered office located at 5a St
Martin's Way, Bedford, MK42 0LF, United Kingdom
The company also has offices in various other locations, including Scotland, Wales, and Northern Ireland, making it easily accessible to clients throughout the UK
In summary, QUARTZELEC LTD is a reputable company that prioritizes sustainability and offers a wide range of high-quality products and services in the electrical and mechanical engineering industry
With its experienced team and commitment to sustainability, the company continues to be a leader in its field
Company Review
Trend Analysis
The average time for QUARTZELEC LTD to pay invoices has shown a slight decrease over the past three periods, from 70 days in 2017-2018 to 61 days in the most recent period (2023-2023). This suggests that the company has become more efficient in paying invoices over time.
Volatility Analysis
The volatility of QUARTZELEC LTD's payment patterns has remained relatively consistent over the past three periods, with only minor fluctuations in the percentages of invoices paid within 30 days, between 31 and 60 days, and later than 60 days. The largest change has been in the percentage of invoices not paid within agreed terms, which has decreased from 54% in 2017-2018 to 11% in 2023-2023.
Summary Analysis
QUARTZELEC LTD has shown a slight improvement in their payment efficiency over the past three periods, with the average time to pay decreasing from 70 days to 61 days. The company has also made progress in paying invoices within agreed terms, with the percentage of invoices not paid within agreed terms decreasing from 54% to 11% over the same time period.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Unless otherwise agreed in writing, payment terms shall be 60 days plus 10 from end of month in which a valid, complete and correct invoice is received showing our order number, description of the goods provided and includes a copy of the relevant goods delivery note(s)
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
120
Dispute Resolution Process
Disputes should be referred in the first instance to the originator of the purchase order. Should the dispute not be satisfactorily resolved it should be referred to the Group Purchasing Manager. The company aims to resolve any dispute which may arise in a timely manner.
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?
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