Ranked in 2 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
| 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 2022 - 31 Dec 2022 | 30 Jan 2023 | 48 | 30% | 36% | 34% | 39% |
| 01 Jan 2022 - 30 Jun 2022 | 02 Aug 2022 | 48 | 27% | 39% | 34% | 19% |
| 01 Jul 2021 - 31 Dec 2021 | 31 Jan 2022 | 53 | 21% | 37% | 42% | 22% |
| 01 Jan 2021 - 30 Jun 2021 | 28 Jul 2021 | 54 | 19% | 40% | 41% | 12% |
| 01 Jul 2020 - 31 Dec 2020 | 01 Feb 2021 | 56 | 17% | 37% | 46% | 11% |
| 01 Jan 2020 - 30 Jun 2020 | 03 Aug 2020 | 47 | 26% | 45% | 29% | 19% |
| 01 Jul 2019 - 31 Dec 2019 | 28 Jan 2020 | 56 | 14% | 39% | 47% | 14% |
| 01 Jul 2018 - 31 Dec 2018 | 04 Feb 2019 | 62 | 6% | 40% | 54% | 54% |
| 01 Jan 2018 - 30 Jun 2018 | 31 Jul 2018 | 53 | 17% | 40% | 42% | 67% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Our standard terms are 60 days after the end of the month in which the invoice is submitted, although we have various contracts with suppliers where different payment terms have been agreed.
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
90
The business has very few disputes relating to payment and will only refuse to pay an invoice where issues have arisen with the supplier’s performance and there is legitimate legal and contractual basis to withhold payment. Any dispute raised by a supplier would be dealt with by our supply chain management and finance functions in the first instance, who would seek to resolve any discrepancy with the invoice. Where necessary, such as where there is a substantive dispute over the validity of the invoice, such dispute would be referred to our Procurement and/or Legal teams for resolution.
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
Sheffield Forgemasters International Limited trades as Sheffield Forgemasters, a Sheffield-based manufacturer of large forged and cast steel components, operating from a single site at River Don Works. It describes itself as a Ministry of Defence owned company, supporting UK national infrastructure through specialist engineering and manufacturing. Its output serves critical sectors including defence, civil nuclear, offshore energy, renewables and power generation, covering processes from steel melting and casting through forging, heat treatment, machining and testing. The company is undergoing a substantial government-backed investment programme to modernise its plant, including new forging and machining facilities. Its registered activity aligns with the manufacture of basic iron, steel and ferro-alloy products supplied as components into larger engineering systems.
Generated from the company's website and Companies House records. Sources: sheffieldforgemasters.com · sheffieldforgemasters.com