INEOS AROMATICS LIMITED
Company Information
- Company Number
- 06226624
- Registered Address
- Hawkslease, Chapel Lane, Lyndhurst, Hampshire, SO43 7FG
- Status
- Active
- Employee Count
- 17.0
- Turnover
- 985015000.0
- EBITDA
- -55277000.0
Additional Details
- Website
- https://bp.com
- Company Type
- Private limited Company
- Incorporated On
- 25 April 2007
- Nature of Business
- 20130 - Manufacture of other inorganic basic chemicals
- Industries
- 0
- Region
- South East
Company Location
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 | 31 Jan 2024 | 19 | 90% | 10% | 0% | 43% |
| 01 Jan 2023 - 30 Jun 2023 | 25 Jul 2023 | 26 | 60% | 33% | 7% | 63% |
| 01 Jan 2022 - 30 Jun 2022 | 28 Jul 2022 | 26 | 75% | 25% | 0% | 42% |
| 01 Jan 2020 - 30 Jun 2020 | 29 Jul 2020 | |||||
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | |||||
| 01 Jan 2019 - 30 Jun 2019 | 29 Jul 2019 | |||||
| 01 Jul 2018 - 31 Dec 2018 | 29 Jan 2019 | |||||
| 01 Jan 2018 - 30 Jun 2018 | 11 Jul 2018 |
Company Summary
INEOS AROMATICS LIMITED is a leading global chemical company that specializes in the production and distribution of aromatic chemicals
The company is committed to sustainability and has a strong focus on reducing their environmental impact
The company's sustainability program includes initiatives such as reducing greenhouse gas emissions, promoting energy efficiency, and implementing responsible waste management practices
INEOS AROMATICS LIMITED also actively works towards minimizing the use of hazardous materials and promoting the responsible use of resources
The company's main products include benzene, toluene, and xylenes which are widely used in various industries such as pharmaceuticals, plastics, and paints
These chemicals are produced through a highly efficient and environmentally friendly process, making them a preferred choice for many customers
Key people at INEOS AROMATICS LIMITED include CEO John McNally and Chairman Jim Ratcliffe, both of whom have extensive experience in the chemical industry
The company has a dedicated team of professionals who are committed to delivering high-quality products and services while adhering to strict safety and environmental standards
For more information on the company's products and services, customers can visit their website at www.ineos.com
The registered office address for INEOS AROMATICS LIMITED is at Lyndhurst Road, London, United Kingdom, N22 5QE
Overall, INEOS AROMATICS LIMITED is a sustainable and highly reputable company that continues to play a significant role in the global chemical industry
Company Review
Trend Analysis
The data for INEOS AROMATICS LIMITED shows a decreasing trend in the average time taken to pay invoices, with a significant improvement from 2022-2023. This trend is also reflected in the percentages of invoices paid within 30 days and between 31-60 days, which have both increased over the three periods. There is also a decrease in the percentage of invoices paid later than 60 days, indicating an improvement in prompt payment.
Volatility Analysis
The data for INEOS AROMATICS LIMITED shows a high level of volatility in the % Invoices paid later than 60 days, with a sharp decrease from 2023-2023. This is also reflected in the % Invoices not paid within agreed terms, which has decreased significantly from 2022-2023. This indicates that the company has made efforts to pay invoices on time and within agreed terms in the later periods.
Summary Analysis
INEOS AROMATICS LIMITED has shown a positive trend in their payment practices, with a decrease in the average time taken to pay invoices and an increase in the percentage of invoices paid within 30 days and between 31-60 days. The company has also made significant improvements in paying invoices later than 60 days and not within agreed terms. The best period for the company was 2023-2023, with 90% of invoices paid within 30 days and only 1% paid later than 60 days. The worst period was 2022-2022, with 25% of invoices paid later than 60 days.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
The Company negotiates and agrees payment terms with its suppliers as one element of its procurement process. As a result, payment terms vary by supplier. Over a third of these payments in this period are to vendors who are affiliate companies, in these cases payment terms and payment timings may be more flexible.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
Some vendors issue an invoice stating a due date but also a time and cost narrative for review and approval by the company prior to payment. This approval process can lead to some delay in payment but the vendor is kept informed of the process and, once approved, payment occurs promptly afterwards. However this can result in payment which follows outside of the credit period.
Maximum contractual payment period agreed
30
Dispute Resolution Process
Supplier invoices and payments are managed by our Accounts Payable team. Disputed invoices will be notified to the supplier by the individual who initiated the purchase transaction to ensure that they are investigated in a timely manner and resolved. Invoiced items that are subject to dispute will not be paid until resolution of the dispute, whereupon payment shall be made either within terms or in the next payment run, following resolution.
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