The average time to pay for HITACHI AUTOMOTIVE SYSTEMS UK LTD. has decreased over the past three periods, going from 34 days in Apr 2018 to 31 days in Sep 2018 and then further decreasing to 27 days in Mar 2019.
The company has shown a decrease in volatility when it comes to paying invoices, as seen by the decreasing percentage of invoices paid later than 60 days (13% in Apr 2018 to 4% in Mar 2019).
| 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 Sept 2018 - 31 Mar 2019 | 19 Sept 2019 | 31 | 61% | 34% | 5% | 1% |
| 01 Apr 2018 - 30 Sept 2018 | 22 Nov 2018 | 34 | 54% | 33% | 13% | 13% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
45 days net month end
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
80
Not applicable, some capital payment may take longer until asset is working
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 Bolton-registered company was incorporated in 1997 and has traded under several names, including Orchardbush Limited, Hitachi Automotive Products Europe Limited, Hitachi Automotive Systems Europe Limited and Hitachi Automotive Systems UK Ltd. Companies House records show it is now known as Hitachi Astemo UK Ltd and, more recently, Astemo UK Ltd. Its registered business activities are the manufacture of electronic components and the manufacture of other transport equipment not elsewhere classified, indicating it produces automotive electronic and mechanical components as part of a wider international automotive parts group. It remains an active private limited company based in the North West of England, employing around 100 people.
Generated from the company's website and Companies House records. Sources: gbrbusiness.com · paymentcheck.co.uk