INEOS COMMERCIAL SERVICES UK LIMITED

Company Information

Company Number
07445497
Registered Address
Hawkslease, Chapel Lane, Lyndhurst, Hampshire, SO43 7FG
Status
Active
Employee Count
97.0
Turnover
1022205000.0
EBITDA
-58651000.0

Additional Details

Company Type
Private limited Company
Incorporated On
19 November 2010
Nature of Business
82990 - Other business support service activities not elsewhere classified
Industries
0
Region
South East

Company Location

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Financial Metrics

Cash
£35,584,595.00
Net Worth
£188,667,244.00
Total Current Assets
£193,676,330.00
Total Current Liabilities
£154,406,750.00
Reporting Period
2023-07-01 to 2023-12-31Filed: 2024-01-31

Time to Pay

Average Time to Pay
38 days
Shortest Period:1 days
Longest Period:60 days
Max Contractual:90 days

Payment Timeline

Within 30 Days
47%
31-60 Days
41%
After 60 Days
12%
Not Paid Within Terms21%

Payment Features

Participates in Codes✗ No
E-Invoicing✓ Yes
Supply Chain Finance✗ No

Payment Time Trends

Payment Distribution Trends

Performance Reports History

Reporting PeriodFiling DateAverage Time to Pay (days)Paid within 30 daysPaid 31-60 daysPaid after 60 daysNot Paid within Terms
01 Jul 2023 - 31 Dec 202331 Jan 20243847%41%12%21%
01 Jan 2023 - 30 Jun 202324 Jul 20233650%39%11%20%
01 Jul 2022 - 31 Dec 202227 Jan 20233652%33%15%29%
01 Jan 2022 - 30 Jun 202226 Jul 20223850%36%14%23%
01 Jul 2021 - 31 Dec 202126 Jan 20224434%44%22%19%
01 Jan 2021 - 30 Jun 202128 Jul 20213650%39%11%21%
01 Jul 2020 - 31 Dec 202029 Jan 20214043%39%18%29%
01 Jan 2020 - 30 Jun 202030 Jul 20203944%39%17%28%
01 Jul 2019 - 31 Dec 201923 Jan 20203065%28%7%22%
01 Jan 2019 - 30 Jun 201924 Jul 20193451%37%12%31%
01 Jul 2018 - 31 Dec 201829 Jan 20194336%48%16%22%
01 Jan 2018 - 30 Jun 201827 Jul 20183352%34%14%37%

Company Summary

INEOS COMMERCIAL SERVICES UK LIMITED is a chemical manufacturing company that operates under the umbrella of INEOS Group Holdings PLC

The company is headquartered in London, United Kingdom and has a registered office address at INEOS House, 5th Floor, 45 Mortimer Street, London, W1W 8HJ

As a leading producer of petrochemicals, INEOS COMMERCIAL SERVICES UK LIMITED offers a wide range of products and services to various industries such as automotive, construction, packaging, and healthcare

Their products include ethylene, propylene, polyethylene, and polypropylene, among others

In addition to their business operations, INEOS COMMERCIAL SERVICES UK LIMITED is committed to sustainability and has a strong focus on reducing their environmental impact

They have implemented various initiatives to improve their energy efficiency, reduce waste, and promote recycling

The company also invests in renewable energy sources and conducts regular audits to ensure compliance with environmental regulations

The key people at INEOS COMMERCIAL SERVICES UK LIMITED include CEO Andrew Gardner and Chairman Jim Ratcliffe, who have been at the forefront of driving the company's growth and sustainability efforts

For more information about their products and services, customers can visit their website at www.ineos.com

They can also contact the company via phone at +44 (0) 20 7269 3400 or email at commercial.services@ineos.com

INEOS COMMERCIAL SERVICES UK LIMITED strives to provide high-quality products and services while maintaining a strong commitment to sustainability

Company Review

Trend Analysis

The average time taken for INEOS COMMERCIAL SERVICES UK LIMITED to pay invoices increased from 2018 to 2021, with a slight decrease in 2022 and 2023. The percentage of invoices paid within 30 days also decreased from 2018 to 2021, with a slight increase in 2022 and 2023. The percentage of invoices paid between 31 and 60 days increased from 2018 to 2021, with a slight decrease in 2022 and 2023. The percentage of invoices paid later than 60 days also decreased from 2018 to 2021, with a slight increase in 2022 and 2023. The percentage of invoices not paid within agreed terms decreased from 2018 to 2021, with a slight increase in 2022 and 2023.

Volatility Analysis

The average time taken for INEOS COMMERCIAL SERVICES UK LIMITED to pay invoices showed a steady increase from 2018 to 2021, with a slight decrease in 2022 and 2023. The percentage of invoices paid within 30 days showed a slight decrease from 2018 to 2021, with a slight increase in 2022 and 2023. The percentage of invoices paid between 31 and 60 days showed a steady increase from 2018 to 2021, with a slight decrease in 2022 and 2023. The percentage of invoices paid later than 60 days showed a slight decrease from 2018 to 2021, with a slight increase in 2022 and 2023. The percentage of invoices not paid within agreed terms showed a slight decrease from 2018 to 2021, with a slight increase in 2022 and 2023.

Summary Analysis

From 2020 to 2021, there was a decrease in the average time taken for INEOS COMMERCIAL SERVICES UK LIMITED to pay invoices, with a slight increase in 2022 and 2023. The percentage of invoices paid within 30 days remained relatively stable from 2020 to 2021, with a slight decrease in 2022 and 2023. The percentage of invoices paid between 31 and 60 days remained relatively stable from 2020 to 2021, with a slight decrease in 2022 and 2023. The percentage of invoices paid later than 60 days decreased from 2020 to 2021, with a slight increase in 2022 and 2023. The percentage of invoices not paid within agreed terms decreased from 2020 to 2021, with a slight increase in 2022 and 2023.

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. The most common payment term in place is 30 days, end of month, although payment terms range from payment on receipt to 90 days, end of month.

Were there any changes to the standard payment terms in the reporting period?

No

Any other information about payment terms

N/A

Maximum contractual payment period agreed

90

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.

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