THALES GTS UK LIMITED
Company Information
- Company Number
- 05805963
- Registered Address
- 350 Longwater Avenue, Green Park, Reading, Berkshire, United Kingdom, RG2 6GF
- Status
- Active
- Employee Count
- 0
- Turnover
- £0
- EBITDA
- £0
Additional Details
- Website
- https://thalesgroup.com
- Company Type
- Private limited Company
- Incorporated On
- 4 May 2006
- Nature of Business
- 74990 - Non-trading company
- Industries
- Professional Services
- Region
- South East
Time to Pay
Payment Timeline
Payment Features
Company Review
Trend Analysis
The average time to pay for THALES GTS UK LIMITED decreased from 44 days in the first period (Jan 2018 - Jun 2018) to 34 days in the last period (Jul 2020 - Dec 2020). This represents a 22.7% decrease in the average time to pay over the three periods. The percentage of invoices paid within 30 days also increased from 50% to 60%, while the percentage of invoices paid later than 60 days decreased from 10% to 9% over the three periods.
Volatility Analysis
The volatility of THALES GTS UK LIMITED's payment practices can be seen in the fluctuation of the percentages of invoices paid within 30 days and later than 60 days. In the first period, 40% of invoices were paid between 31 and 60 days, but this percentage decreased to 24% in the second period before increasing again to 31% in the last period. Similarly, the percentage of invoices paid later than 60 days decreased from 22% in the second period to 12% in the last period, but this percentage was at its highest in the first period at 40%. This indicates that THALES GTS UK LIMITED's payment practices have improved over the three periods, but there is still some volatility in their payment timelines.
Summary Analysis
In the first period (Jan 2018 - Jun 2018), THALES GTS UK LIMITED took an average of 44 days to pay invoices to suppliers, with 50% of invoices paid within 30 days and 10% paid later than 60 days. This improved in the second period (Jul 2018 - Dec 2018), with an average time to pay of 63 days and 54% of invoices paid within 30 days, but there was a significant increase in the percentage of invoices paid later than 60 days at 22%. In the third period (Jan 2019 - Jun 2019), there was a decrease in the average time to pay to 45 days, with 59% of invoices paid within 30 days and 14% paid later than 60 days. In the last period (Jul 2020 - Dec 2020), THALES GTS UK LIMITED showed significant improvement with an average time to pay of 34 days, 60% of invoices paid within 30 days, and only 9% paid later than 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 Jul 2020 - 31 Dec 2020 | 18 Jan 2021 | 34 | 60% | 31% | 9% | 16% |
| 01 Jan 2020 - 30 Jun 2020 | 29 Jul 2020 | 40 | 57% | 31% | 12% | 46% |
| 01 Jul 2019 - 31 Jul 2019 | 03 Feb 2020 | 45 | 65% | 21% | 14% | 28% |
| 01 Jan 2019 - 30 Jun 2019 | 24 Jul 2019 | 45 | 59% | 27% | 14% | 43% |
| 01 Jul 2018 - 31 Dec 2018 | 14 Jan 2019 | 63 | 54% | 24% | 22% | 50% |
| 01 Jan 2018 - 30 Jun 2018 | 24 Jul 2018 | 44 | 50% | 40% | 10% | 38% |
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
Payment by Thales shall be 30 days from the end of the month in which the invoice is received.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
The Supplier shall submit invoices to the address stated on the Order after Delivery of the Goods or the performance of the Services. Every invoice shall include the following information: Order number and the Order item number; Goods and/or Services to which it relates; Supplier’s VAT number; Supplier’s bank account number, sort code and invoice address; invoice number; date of the invoice; name of the relevant Thales company and its full address; Delivery Address; Price and the total amount due; and any other information reasonably required by Thales. Thales may reject any invoice that does not include the information set out above. No payments shall be made until and unless the Goods and/or Services have been accepted. Thales shall be entitled to set off against the Price any sums that are owed to Thales by the Supplier. If Thales does not make a payment against a correctly submitted invoice within the period stated in standard payment terms, the Supplier may charge interest on such late payment at a rate no greater than 4% per annum above the Bank of England’s base rate calculated on a daily basis commencing 14 days from the date on which payment was due provide that the Supplier has given 14 days written notice to Thales that such payment is overdue.
Maximum contractual payment period agreed
90
Dispute Resolution Process
Thales UK will endeavour to advise suppliers promptly of any disputes or reasons why an invoice will not be paid to the agreed terms. Invoices that are subject to dispute will not be paid until resolution of the dispute. Once resolved, payment will be made in accordance with the terms of the contract, this document and the UK Prompt Payment Code.
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
THALES GTS UK LIMITED is a leading technology and services provider, offering innovative solutions for the aerospace, defense, and security sectors. The company is committed to sustainability and has implemented various initiatives to reduce its environmental impact and promote social responsibility.
Their sustainability program includes measures such as reducing carbon emissions, promoting energy efficiency, and implementing waste reduction and recycling practices. They also encourage their employees to volunteer and support local communities through various charitable activities.
The company's main products and services include advanced communication systems, radar and surveillance systems, and cyber security solutions. They also offer a range of training and consultancy services, helping their clients to optimize their operations and improve their performance.
Key people at THALES GTS UK LIMITED include the CEO, Patrice Caine, and the Managing Director, Richard Deakin. The company has a team of highly skilled and experienced professionals who are dedicated to delivering high-quality products and services to their customers.
For more information about THALES GTS UK LIMITED and their products and services, you can visit their website at www.thalesgroup.com. Their registered office address is Thales House, 2 Dashwood Lang Road, Addlestone, Surrey KT15 2NX.
