TESCO DISTRIBUTION LIMITED
Company Details
Registration Number
02972724
Registered Address
Tesco House Shire Park Kestrel Way Welwyn Garden City United Kingdom AL7 1GA
Company Status
Active
Employee Count
17511
Turnover
£2,270,643,000
EBITDA
£298,738,000
Additional Information
Website
tesco.co.ukCompany Type
Private limited Company
Incorporated on
30 September 1994
Nature of Business (SIC)
49410 - Freight transport by road
Industries
Animal feed and pet food, Baked goods, Butchers, fishmongers and greengrocers, Clothes, Collection and delivery, Distribution and wholesale, Fish, meat and eggs, Food and drink processing, Footwear, Pasta, rice and other dry processed foods, Pharmacies, Sports equipment and apparel, Supermarkets and department stores, Warehouses (bonded and non-bonded)
Region
East of EnglandCompany Location
Financial Overview
£140,221,000
£415,246,000
Last Reporting Period
Filed
25 Sep 2023
Period
27 Feb 2023 - 27 Aug 2023
Payment Timing
Average Time to Pay
53 days
Payment Periods
Shortest
5 days
Longest
60 days
Max Contractual
60 days
Payment Timeline
Not Paid Within Terms
2%
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 |
|---|---|---|---|---|---|---|
| 27 Feb 2023 - 27 Aug 2023 | 25 Sep 2023 | 53 | 11% | 50% | 39% | 2% |
| 29 Aug 2022 - 26 Feb 2023 | 24 Mar 2023 | 52 | 9% | 61% | 30% | 2% |
| 28 Feb 2022 - 28 Aug 2022 | 23 Sep 2022 | 50 | 11% | 70% | 19% | 2% |
| 30 Aug 2021 - 27 Feb 2022 | 25 Mar 2022 | 45 | 11% | 85% | 4% | 2% |
| 01 Mar 2021 - 29 Aug 2021 | 28 Sep 2021 | 44 | 16% | 79% | 5% | 2% |
| 30 Aug 2020 - 28 Feb 2021 | 29 Mar 2021 | 41 | 19% | 80% | 1% | 2% |
| 01 Mar 2020 - 29 Aug 2020 | 28 Sep 2020 | 39 | 22% | 77% | 1% | 2% |
| 26 Aug 2019 - 29 Feb 2020 | 30 Mar 2020 | 41 | 21% | 78% | 1% | 2% |
| 25 Feb 2019 - 25 Aug 2019 | 24 Sep 2019 | 38 | 32% | 65% | 3% | 8% |
| 27 Aug 2018 - 24 Feb 2019 | 26 Mar 2019 | 42 | 51% | 40% | 9% | 16% |
| 26 Feb 2018 - 26 Aug 2018 | 25 Sep 2018 | 36 | 29% | 71% | 0% | 2% |
Company Summary
TESCO DISTRIBUTION LIMITED is a leading British multinational retailer, operating in over 12 countries worldwide
The company was founded in 1919 by Jack Cohen and is headquartered in Hertfordshire, United Kingdom
The company's primary focus is on retail and distribution of groceries, household goods, and various other products
They offer a wide range of products and services, including food, clothing, electronics, financial services, and more
TESCO also offers online shopping and home delivery services to make the shopping experience convenient for their customers
TESCO is committed to sustainability and has implemented various initiatives to reduce their impact on the environment
They aim to reduce carbon emissions, minimize waste, and promote sustainable sourcing and production methods
The company also encourages recycling and offers reusable bags and packaging options to their customers
The key people at TESCO DISTRIBUTION LIMITED include Dave Lewis, Group Chief Executive Officer, and John Allan, Chairman
They lead a team of dedicated employees who work towards the company's mission to serve their customers with high-quality products and services
To contact TESCO DISTRIBUTION LIMITED, customers can visit their website at www.tescoplc.com, where they can find information about their products, services, and sustainability efforts
The registered office address is Tesco House, Shire Park, Kestrel Way, Welwyn Garden City, Hertfordshire, AL7 1GA, United Kingdom
In conclusion, TESCO DISTRIBUTION LIMITED is a well-established retailer that offers a wide range of products and services while prioritizing sustainability
With their dedicated team and commitment to serving their customers, TESCO continues to be a leading player in the retail industry
Company Review
Trend Analysis
The average time taken for TESCO DISTRIBUTION LIMITED to pay invoices has been increasing over the past few periods, with a noticeable jump from 38 days in 2019-2020 to 53 days in 2023. This suggests that the company may be facing financial difficulties or issues with cash flow.
Volatility Analysis
The volatility in the percentage of invoices paid within 30 days has been relatively low, ranging from 11% to 51% over the past three periods. However, the percentage of invoices paid between 31 and 60 days has shown more volatility, ranging from 40% to 85%. This may indicate that the company is struggling to consistently pay invoices on time.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
5 days – small suppliers with up to £250,000 (inclusive of VAT) of business with the Company each year. 60 days – large suppliers, greater than £250,000 (inclusive of VAT) of business with the Company each year. The business has standardised payment terms across each category (The business also has 30 day & 45 day term).
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
60
Dispute Resolution Process
The business manages all queries through an incident management tool and has a dedicated team to manage queries. If there is a dispute, the business will call/email the relevant vendors and follow up with an email to resolve. All queries raised by vendors are usually resolved within 3 days. The business has an escalation matrix which is shared with all vendors. The business conducts periodic governance reviews on the performance of the query team to ensure that queries are resolved timely and satisfactorily, thereby ensuring a build-up of invoices on hold is avoided and vendors are paid accurately.
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?
❌
