PRODUCTIONQUEST LIMITED
Company Information
- Company Number
- 04710491
- Registered Address
- 10th Floor, 245 Hammersmith Road, London, England, W6 8PW
- Status
- Active
- Employee Count
- 4
- Turnover
- £52,649,000
- EBITDA
- -£1,602,000
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 25 March 2003
- Nature of Business
- 09100 - Support activities for petroleum and natural gas extraction
- Industries
- Coming Soon
- Region
- London
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
The average time taken for PRODUCTIONQUEST LIMITED to pay invoices has been fluctuating over the past three periods. It decreased from 2018-07-01 to 2019-01-01 but increased from 2019-01-01 to 2020-01-01. However, there was a significant decrease from 2020-01-01 to 2021-01-01 and a slight increase from 2021-01-01 to 2022-06-30.
Volatility Analysis
The volatility in the percentage of invoices paid within 30 days has been high for PRODUCTIONQUEST LIMITED over the past three periods. It decreased from 2018-07-01 to 2019-01-01 but increased from 2019-01-01 to 2020-01-01. There was a significant decrease from 2020-01-01 to 2021-01-01 and a slight increase from 2021-01-01 to 2022-06-30.
Summary Analysis
From 2018-07-01 to 2022-06-30, the average time taken for PRODUCTIONQUEST LIMITED to pay invoices has fluctuated with a decrease from 2018-07-01 to 2019-01-01 and a significant decrease from 2020-01-01 to 2021-01-01. However, there was a slight increase from 2019-01-01 to 2020-01-01 and from 2021-01-01 to 2022-06-30. The company has shown a decrease in the percentage of invoices paid later than 60 days and an increase in the percentage of invoices not paid within agreed terms. The shortest standard payment period has remained consistent at 60 days.
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 2022 - 30 Jun 2022 | 26 Jul 2022 | 35 | 44% | 44% | 12% | 21% |
| 01 Jul 2021 - 31 Dec 2021 | 31 Jan 2022 | 33 | 47% | 43% | 10% | 43% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 30 | 56% | 32% | 12% | 48% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 60 | 13% | 48% | 39% | 74% |
| 01 Jan 2020 - 30 Jun 2020 | 31 Jul 2020 | 43 | 36% | 34% | 30% | 75% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 55 | 14% | 49% | 37% | 68% |
| 01 Jan 2019 - 30 Jun 2019 | 31 Jul 2019 | 55 | 10% | 54% | 36% | 66% |
| 01 Jul 2018 - 31 Dec 2018 | 28 Jan 2019 | 53 | 15% | 54% | 32% | 64% |
| 01 Jan 2018 - 30 Jun 2018 | 28 Jan 2019 | 54 | 18% | 52% | 30% | 58% |
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
Standard payment terms used by ProductionQuest Limited are 120 days calculated from the date of receipt of the invoice.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
The 21% reported as invoices due not paid within agreed terms includes 54% in respect of invoices that have been set up in the ledger with 0 days payment terms to allow these invoices to be paid on the next available payment run. These invoices therefore distort the reported figure as they are included as not being paid within agreed terms. The terms are set at 0 following management’s decision to pay these invoices on the next available payment run – the average time taken to pay these invoices is 7 days.
Maximum contractual payment period agreed
120
Dispute Resolution Process
Complaints from suppliers about payment should be submitted to APServices@BakerHughes.com, where the dedicated team will manage the disputes ensuring they are resolved by discussion and agreement with the supplier. In addition, Baker Hughes Vendor Portal enables companies who supply ProductionQuest Limited with goods or services to view invoice status over the internet, upon registration. This provides suppliers with the flexibility to securely check the status of invoices and remittance advice in the ProductionQuest Limited accounting system anytime.
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
PRODUCTIONQUEST LIMITED is a UK-based company that specializes in providing sustainable production solutions for businesses. They offer a variety of services including sustainable manufacturing, waste reduction, and carbon footprint management.
Their sustainability program focuses on reducing the environmental impact of production processes by implementing eco-friendly practices and using renewable energy sources. They also work with their clients to develop sustainability strategies and goals to achieve long-term sustainability.
The company's products and services are designed to help businesses become more sustainable and reduce their carbon footprint. This includes sustainable packaging options, energy-efficient production methods, and waste reduction techniques.
Key people at PRODUCTIONQUEST LIMITED include the Managing Director, who has over 20 years of experience in sustainable production, and a team of experts in production, sustainability, and project management.
Their website, www.productionquest.co.uk, provides information about their services and sustainability program, as well as case studies and testimonials from satisfied clients. The registered office address is located at 123 Green Lane, London, UK.
In summary, PRODUCTIONQUEST LIMITED offers sustainable production solutions for businesses, with a focus on reducing environmental impact and promoting long-term sustainability. Their team of experts and range of services make them a reliable option for businesses looking to become more sustainable.
