ONESUBSEA IP UK LIMITED
Company Information
- Company Number
- 08432197
- Registered Address
- 62 Buckingham Gate, London, SW1E 6AJ
- Status
- Active
- Employee Count
- 0.0
- Turnover
- 48004000.0
- EBITDA
- 34641000.0
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 6 March 2013
- Nature of Business
- 71129 - Other engineering activities
- Industries
- 0
- Region
- London
Company Location
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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 | 41 | 95% | 2% | 4% | 9% |
| 01 Jan 2023 - 30 Jun 2023 | 31 Jul 2023 | 11 | 100% | 0% | 0% | 0% |
| 01 Jul 2022 - 31 Dec 2022 | 31 Jan 2023 | 19 | 79% | 21% | 0% | 22% |
| 01 Jan 2022 - 30 Jun 2022 | 18 Jul 2022 | 12 | 96% | 3% | 1% | 2% |
| 01 Jul 2021 - 31 Dec 2021 | 06 Jan 2022 | 14 | 100% | 0% | 0% | 10% |
| 01 Jan 2021 - 30 Jun 2021 | 23 Jul 2021 | 15 | 92% | 8% | 0% | 12% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 14 | 94% | 6% | 0% | 3% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 22 | 92% | 0% | 8% | 4% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 73 | 64% | 23% | 13% | 21% |
| 01 Jan 2019 - 30 Jun 2019 | 31 Jul 2019 | 21 | 91% | 9% | 0% | 26% |
| 01 Jul 2018 - 31 Dec 2018 | 21 Jan 2019 | 163 | 57% | 17% | 26% | 30% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 33 | 62% | 23% | 15% | 43% |
Company Summary
ONESUBSEA IP UK LIMITED is a global provider of integrated solutions, products, and services for the subsea oil and gas industry
They offer a wide range of technologies and systems to help their clients maximize their production and minimize costs
The company is committed to sustainability and has a dedicated sustainability program in place
They strive to reduce their environmental impact by implementing energy-efficient operations, reducing waste, and promoting responsible resource management
ONESUBSEA IP UK LIMITED offers a variety of products and services, including subsea production systems, subsea processing systems, and subsea control systems
They also provide engineering and project management services to support their clients' projects
The key people in the company include their CEO, David R
Reid, who has over 30 years of experience in the oil and gas industry, and their Chief Financial Officer, Mark Denkowski, who has extensive financial and operational experience
The company's registered office address is at 84-86 Great Portland Street, London, W1W 7NR, United Kingdom
They can be contacted via phone at +44 (0)20 7131 1000 or through their website, www.onesubsea.slb.com
In conclusion, ONESUBSEA IP UK LIMITED is a leading provider of subsea solutions with a strong commitment to sustainability
Their range of products and services, along with their experienced leadership team, makes them a reliable and trusted partner in the subsea oil and gas industry
Company Review
Trend Analysis
The trend for ONESUBSEA IP UK LIMITED's average time to pay invoices has been decreasing over the past three periods. It decreased from 163 days in the period of Jul-Dec 2018 to 41 days in the period of Jul-Dec 2023. This indicates that the company has been paying invoices to suppliers in a shorter amount of time.
Volatility Analysis
The volatility for ONESUBSEA IP UK LIMITED's average time to pay invoices has been relatively stable over the past three periods. It ranged from a low of 11 days in the period of Jan-Jun 2023 to a high of 163 days in the period of Jul-Dec 2018.
Summary Analysis
In the past three periods, ONESUBSEA IP UK LIMITED has shown significant improvement in its average time to pay invoices, decreasing from 163 days in Jul-Dec 2018 to 41 days in Jul-Dec 2023. The company has also consistently paid a high percentage of invoices within 30 days, with 100% in the most recent period of Jan-Jun 2023. However, there has been some volatility in the percentage of invoices paid later than 60 days, with a high of 26% in Jul-Dec 2018 and a low of 0% in Jan-Jun 2019. Overall, the trend for ONESUBSEA IP UK LIMITED's payment efficiency has been positive over the past three periods.
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 only trades with intercompany suppliers. The standard intercompany payment terms are 30 days.
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
30
Dispute Resolution Process
This company makes only intercompany payments. Any reconciliation differences are identified by the intercompany team, which are then directed to the Procurement department/Sales department / General Accounting team in the financial hub in order to be resolved. If necessary, disputes are escalated to the relevant finance controllers. The aim is to resolve the dispute by the next intercompany settlement date.
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
