LOCKHEED MARTIN UK LIMITED
Company Information
- Company Number
- 02372738
- Registered Address
- C/O Legal Counsel Building 7000, Langstone Park, Langstone, Havant, Hampshire, England, PO9 1SW
- Status
- Active
- Employee Count
- 856
- Turnover
- £222,203,000
- EBITDA
- £9,924,000
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 17 April 1989
- Nature of Business
- 74909 - Other professional, scientific and technical activities not elsewhere classified
- Industries
- Safety And Security
- Region
- South East
Time to Pay
Payment Timeline
Payment Features
Payment Score History
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 2025 - 30 Jun 2025 | 25 Jul 2025 | 28 | 90% | 9% | 1% | 10% |
| 01 Jan 2024 - 30 Jun 2024 | 16 Jul 2024 | 28 | 93% | 6% | 1% | 7% |
| 01 Jul 2023 - 31 Dec 2023 | 23 Jan 2024 | 27 | 93% | 6% | 1% | 7% |
| 01 Jul 2022 - 31 Dec 2022 | 24 Jan 2023 | 28 | 91% | 8% | 1% | 9% |
| 01 Jan 2022 - 30 Jun 2022 | 20 Jul 2022 | 29 | 91% | 8% | 1% | 9% |
| 01 Jul 2021 - 31 Dec 2021 | 14 Jan 2022 | 28 | 92% | 7% | 1% | 8% |
| 01 Jul 2019 - 31 Dec 2019 | 28 Jan 2020 | 29 | 86% | 13% | 1% | 14% |
| 01 Jan 2019 - 30 Jun 2019 | 23 Jul 2019 | 27 | 87% | 12% | 1% | 13% |
| 01 Jul 2018 - 31 Dec 2018 | 24 Jan 2019 | 28 | 75% | 24% | 1% | 25% |
| 01 Jan 2018 - 30 Jun 2018 | 24 Jul 2018 | 27 | 77% | 22% | 1% | 23% |
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
When approving payments, the following process applies, although site specific requirement can vary the exact process: Automated Invoice received and matched to PO. Automated workflow will present to invoice approver. System will continue to prompt approver until approved or rejected. In the event of a discrepancy, invoice is presented to the buyer to resolve. Manual Where the buyer manually received an invoice for approval; buyer verifies the accuracy of the associated invoice and deliverables due/received. Buyer processes invoice in accordance with manual payment process as either approved or rejected. Discrepancies are dealt with at point of validation of invoice accuracy.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
60
Dispute Resolution Process
In the event that the invoice is incorrect the buyer shall contact the supplier to discuss and agree a correction. The invoice is then rejected and returned as unpaid to the supplier. A new invoice and or credit note will then need to be issued by the supplier. If a suitable resolution cannot be agreed between the buyer and supplier, then either party can resort to the dispute resolution language in the agreed contract terms and conditions.
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.
❌
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.
❌
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
LOCKHEED MARTIN UK LIMITED is a leading global security and aerospace company that provides advanced technology and services to government and commercial customers. The company is a subsidiary of LOCKHEED MARTIN CORPORATION, a Fortune 500 company.
The company's main focus is on providing innovative solutions for defence, aerospace, and other critical industries. Their products and services range from advanced combat systems, defence equipment, and information technology to space and satellite systems.
LOCKHEED MARTIN UK LIMITED is committed to sustainability and has implemented a comprehensive sustainability program. This includes reducing their carbon footprint, conserving natural resources, and promoting sustainable practices throughout their supply chain. They also prioritize diversity and inclusion in their workforce and have initiatives to support local communities.
The company's key people include the Chairman, Sir Roger Carr, and the Managing Director, Peter Ruddock. They lead a team of over 3,000 highly skilled employees, including engineers, scientists, and business professionals, who work towards the company's mission of delivering cutting-edge technology and services.
LOCKHEED MARTIN UK LIMITED can be contacted through their website, which provides information about their products, services, and career opportunities. The company's registered office address is 1 Lockheed Boulevard, Farnborough Aerospace Centre, Farnborough, Hampshire, GU14 6XN. They also have offices and facilities in other locations across the UK.
In conclusion, LOCKHEED MARTIN UK LIMITED is a prominent company in the defence and aerospace industry, known for its advanced technology solutions and commitment to sustainability. With a strong leadership team and a dedicated workforce, the company continues to drive innovation and contribute to the growth of the UK's economy.
