Ranked in 7 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
The data for ULTRA ELECTRONICS LIMITED shows a consistent decrease in the average time taken to pay invoices over the past three periods. From 2018 to 2023, the average time to pay has decreased from 50 days to 35 days, showing a 30% improvement. This trend suggests that the company has become more efficient in their payment processes.
The volatility of ULTRA ELECTRONICS LIMITED's payment patterns can be seen in the fluctuations of the percentages of invoices paid within 30 days, between 31 and 60 days, and later than 60 days. These percentages have varied between periods, indicating that the company's payment practices are not consistent.
From 2018 to 2023, ULTRA ELECTRONICS LIMITED has shown a consistent improvement in their payment processes, with the average time to pay decreasing by 30%. This is reflected in the increase of invoices paid within 30 days and the decrease of invoices paid later than 60 days. However, the company's payment practices still show some volatility, with fluctuations in the percentages of invoices paid within different time frames.
| 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 | 01 Feb 2024 | 35 | 88% | 5% | 7% | 45% |
| 01 Jan 2023 - 30 Jun 2023 | 01 Sept 2023 | 61 | 75% | 18% | 7% | 17% |
| 01 Jul 2022 - 31 Dec 2022 | 31 Jan 2023 | 47 | 60% | 29% | 11% | 27% |
| 01 Jan 2022 - 30 Jun 2022 | 27 Jul 2022 | 50 | 39% | 42% | 19% | 39% |
| 01 Jul 2021 - 31 Dec 2021 | 27 Jan 2022 | 47 | 47% | 38% | 15% | 28% |
| 01 Jan 2021 - 30 Jun 2021 | 27 Jul 2021 | 45 | 50% | 37% | 13% | 37% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 41 | 47% | 40% | 13% | 39% |
| 01 Jan 2020 - 30 Jun 2020 | 27 Jul 2020 | 40 | 49% | 37% | 14% | 35% |
| 01 Jul 2019 - 31 Dec 2019 | 29 Jan 2020 | 34 | 44% | 40% | 16% | 50% |
| 01 Jan 2019 - 30 Jun 2019 | 26 Jul 2019 | 44 | 35% | 41% | 24% | 72% |
| 01 Jul 2018 - 31 Dec 2018 | 28 Jan 2019 | 49 | 33% | 39% | 28% | 77% |
| 01 Jan 2018 - 30 Jun 2018 | 23 Jul 2018 | 50 | 31% | 42% | 27% | 75% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms vary. On average, standard payment terms are 30 days.
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
There is an escalation route to the Group Financial Controller and Group Finance Director to resolve issues.
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
Ultra Electronics Limited is a UK company registered in London, whose website now trades under the name Cobham Ultra. It describes itself as specialising in application-engineered bespoke solutions for mission critical situations, operating through business units including Maritime Intelligence & Communications, Precision Control Systems and C16 Ventures. Structured company records classify its activity as other manufacturing, with links to electronics hardware, sensors, and military and defence applications. The entity forms part of the wider Cobham Ultra group, which develops and supplies specialist electronic and control systems used in demanding, safety-critical environments rather than consumer products.
Generated from the company's website and Companies House records. Sources: ultra-electronics.com · ultra-electronics.com