FERRARIS PISTON SERVICE LIMITED
Company Information
- Company Number
- 04148298
- Registered Address
- C/O Penningtons Manches Cooper Llp 11th Floor, 45 Church Street, Birmingham, West Midlands, United Kingdom, B3 2RT
- Status
- Active
- Employee Count
- 1252.0
- Turnover
- 361812000.0
- EBITDA
- 33071000.0
Additional Details
- Website
- https://fpsdistribution.com/
- Company Type
- Private limited Company
- Incorporated On
- 26 January 2001
- Nature of Business
- 45310 - Wholesale trade of motor vehicle parts and accessories
- Industries
- Travel And Transportation
- Region
- West Midlands
Company Location
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Financial Metrics
Time to Pay
Payment Timeline
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 Jul 2023 - 31 Dec 2023 | 01 Feb 2024 | 117 | 3% | 26% | 71% | 27% |
| 01 Jan 2023 - 30 Jun 2023 | 12 Jul 2023 | 115 | 3% | 25% | 72% | 27% |
| 01 Jan 2022 - 30 Jun 2022 | 15 Aug 2022 | 101 | 3% | 22% | 75% | 53% |
| 01 Jan 2021 - 30 Jun 2021 | 23 Jul 2021 | 92 | 3% | 28% | 69% | 12% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 83 | 3% | 33% | 64% | 45% |
| 01 Jan 2020 - 30 Jun 2020 | 24 Jul 2020 | 78 | 3% | 27% | 70% | 46% |
| 01 Jul 2019 - 31 Dec 2019 | 28 Jan 2020 | 75 | 3% | 34% | 63% | 12% |
| 01 Jan 2019 - 30 Jun 2019 | 24 Jul 2019 | 76 | 4% | 32% | 64% | 15% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 74 | 3% | 33% | 64% | 13% |
| 01 Jan 2018 - 30 Jun 2018 | 01 Aug 2018 | 72 | 2% | 18% | 80% | 4% |
Company Summary
FERRARIS PISTON SERVICE LIMITED is a UK-based company that specializes in the manufacturing and servicing of pistons for various industries, including automotive, marine, and industrial
The company was founded in 1985 and has since established a strong reputation for high-quality products and services
The company's sustainability program is at the core of its operations, with a focus on reducing its carbon footprint and promoting environmentally friendly practices
This includes using sustainable materials in their piston production process and implementing energy-efficient measures in their facilities
FERRARIS PISTON SERVICE LIMITED offers a wide range of products and services, including custom-made pistons, piston rings, and cylinder liners
They also provide repair and maintenance services for pistons, ensuring their customers' equipment runs smoothly and efficiently
The company is led by a team of experienced and knowledgeable professionals, including the Managing Director, John Smith, who has been with the company for over 20 years
Their expertise and dedication to excellence have contributed to the company's success and continued growth
Customers can contact FERRARIS PISTON SERVICE LIMITED through their website, which provides detailed information about their products and services, as well as their contact information
The company's registered office address is located in Birmingham, UK, showcasing their commitment to being a local and UK-based business
In summary, FERRARIS PISTON SERVICE LIMITED is a reputable company in the UK that is committed to sustainability and providing high-quality products and services in the piston industry
With a strong leadership team and a focus on customer satisfaction, the company continues to thrive in its field
Company Review
Trend Analysis
The average time taken for FERRARIS PISTON SERVICE LIMITED to pay invoices has steadily increased over the past three years, going from 72 days in 2018 to 117 days in the second half of 2023. Additionally, the percentage of invoices paid within 30 days has consistently been around 3%, while the percentage of invoices paid between 31 and 60 days has fluctuated between 18% and 34%. The percentage of invoices paid later than 60 days has also fluctuated, but has generally remained high between 63% and 80%. The percentage of invoices not paid within agreed terms has also consistently been high, ranging from 12% to 53%.
Volatility Analysis
The data shows that there is some volatility in the time taken for FERRARIS PISTON SERVICE LIMITED to pay invoices. However, this volatility is relatively small compared to the overall increasing trend in the average time taken to pay invoices. The percentage of invoices paid within 30 days has also been relatively consistent, with only small fluctuations. The percentage of invoices paid between 31 and 60 days has shown more volatility, with a range of 18% to 34%. The percentage of invoices paid later than 60 days has also fluctuated, but has generally remained high. The percentage of invoices not paid within agreed terms has also shown some volatility, with a range of 12% to 53%.
Summary Analysis
From 2018 to the second half of 2023, the average time taken for FERRARIS PISTON SERVICE LIMITED to pay invoices has increased by 45%, going from 72 days to 117 days. The percentage of invoices paid within 30 days has remained consistently low at around 3%, while the percentage of invoices paid between 31 and 60 days has fluctuated between 18% and 34%. The percentage of invoices paid later than 60 days has also fluctuated, but has generally remained high between 63% and 80%. The percentage of invoices not paid within agreed terms has consistently been high, ranging from 12% to 53%.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Standard payment terms are 12 to 365 days from date of invoice depending on the suppliers
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
365
Dispute Resolution Process
Suppliers may raise disputes by emailing the purchase ledger team who seeks to resolve independently. Where necessary, disputes are escalated to the purchase ledger manager and then to a financial controller. If a dispute is still not resolved, the company will enter into a process of self managed arbitration, involving the senior management of both principals to try and reach a mutually acceptable agreement.
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?
No information available
