The average time for MAGELLAN AEROSPACE (UK) LIMITED to pay invoices has fluctuated over the past three periods, with a decrease in the first period, followed by an increase in the second period, and then a decrease again in the third period.
The volatility of the percentage of invoices paid within 30 days has been relatively stable, with a slight increase in the third period. However, the percentage of invoices paid later than 60 days has shown significant volatility, with a sharp increase in the third period.
From 2018 to 2021, MAGELLAN AEROSPACE (UK) LIMITED has shown a decrease in the average time taken to pay invoices, from 51 days to 56 days. However, there was a significant increase in the average time taken to pay invoices in the last period, reaching 68 days. This is also reflected in the percentage of invoices paid within 30 days, which decreased from 32% to 12% in the same period. The company also saw a decrease in the percentage of invoices paid between 31 and 60 days, from 37% to 29%. The most significant change can be seen in the percentage of invoices paid later than 60 days, which increased from 32% to 59% in the last period. This indicates a potential issue with delays in payments to suppliers in the most recent period.
| 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 2024 - 31 Dec 2024 | 22 May 2025 | 73 | 6% | 24% | 70% | 54% |
| 01 Jan 2024 - 30 Jun 2024 | 21 May 2025 | 78 | 5% | 19% | 76% | 75% |
| 01 Jul 2023 - 31 Dec 2023 | 22 Aug 2024 | 85 | 3% | 19% | 78% | 86% |
| 01 Jan 2023 - 30 Jun 2023 | 22 Aug 2024 | 77 | 5% | 25% | 70% | 71% |
| 01 Jul 2022 - 31 Dec 2022 | 22 Aug 2024 | 77 | 8% | 25% | 67% | 67% |
| 01 Jan 2022 - 30 Jun 2022 | 21 Jul 2022 | 75 | 14% | 26% | 61% | 17% |
| 01 Jul 2021 - 31 Dec 2021 | 07 Jun 2022 | 68 | 12% | 29% | 59% | 64% |
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 56 | 22% | 35% | 42% | 42% |
| 01 Jul 2020 - 31 Dec 2020 | 09 Feb 2021 | 35 | 54% | 27% | 18% | 42% |
| 01 Jan 2020 - 30 Jun 2020 | 04 Aug 2020 | 50 | 33% | 32% | 35% | 45% |
| 01 Jul 2019 - 31 Dec 2019 | 04 Feb 2020 | 49 | 34% | 38% | 28% | 34% |
| 01 Jan 2019 - 30 Jun 2019 | 31 Jul 2019 | 47 | 31% | 36% | 33% | 26% |
| 01 Jul 2018 - 31 Dec 2018 | 31 Jan 2019 | 47 | 32% | 37% | 32% | 24% |
| 01 Jan 2018 - 30 Jun 2018 | 31 Jul 2018 | 51 | 21% | 37% | 42% | 65% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The business enters into various agreements with suppliers but the most frequent payment terms are 30 days end of month. The maximum payment terms are 120 days End of Month. Any changes to contractual terms will be part of the negotiated agreements.
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
120
Disputes will be passed by divisional purchase ledger teams back to the originator of the purchase order within Magellan to resolve with their contact at the supplying company. The supplying company finance team will be advised that there is a dispute with the invoice which is being resolved between the appropriate personnel within the two companies.
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
Magellan Aerospace (UK) Limited is registered at a manufacturing site, Structures Building, Rackery Lane, Llay, Wrexham, and forms part of Magellan Aerospace Corporation, a global aerospace group headquartered in Canada. The wider group designs, engineers and manufactures aeroengine and aerostructure assemblies and components for civil aerospace, defence and space markets, produces specialty materials, and provides engine and component maintenance, repair and overhaul services. Its UK entity operates within this group structure, with its listed SIC code covering other manufacturing not elsewhere classified. The Companies House record shows the company as active, incorporated in September 2003, with its registered office based at the Wrexham manufacturing facility associated with the group's aerostructure operations.
Generated from the company's website and Companies House records. Sources: magellan.aero · magellan.aero