TIP TRAILER SERVICES UK LIMITED
Company Information
- Company Number
- 08570225
- Registered Address
- 3rd Floor, 1 Ashley Road, Altrincham, Cheshire, WA14 2DT
- Status
- Active
- Employee Count
- 744
- Turnover
- £283,862,000
- EBITDA
- £109,889,000
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 14 June 2013
- Nature of Business
- 77120 - Renting and leasing of trucks and other heavy vehicles
- Industries
- Supply Chain,Manufacturing And Commerce Models,Travel And Transportation
- Region
- North West
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
The average time taken for TIP TRAILER SERVICES UK LIMITED to pay invoices has remained relatively consistent over the past three periods, with only a slight increase in 2021-2022 compared to the previous two periods.
Volatility Analysis
The company's average time to pay has fluctuated between 40-50 days, with the lowest point being in 2021-2022 and the highest point in 2019-2020. This suggests some volatility in the company's payment practices.
Summary Analysis
Looking at the past three periods, there has been a slight increase in the average time taken for TIP TRAILER SERVICES UK LIMITED to pay invoices. This increase is mainly due to a higher percentage of invoices being paid later than 60 days, with the worst period being in 2019-2020. However, there have also been some improvements, with a higher percentage of invoices being paid within 30 days in the most recent period compared to the previous two periods.
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 Jan 2022 - 30 Jun 2022 | 01 Sept 2022 | 41 | 45% | 40% | 15% | 47% |
| 01 Jul 2021 - 31 Dec 2021 | 13 Jan 2022 | 40 | 49% | 37% | 14% | 42% |
| 01 Jul 2020 - 31 Dec 2020 | 22 Mar 2021 | 44 | 47% | 36% | 17% | 42% |
| 01 Jan 2020 - 30 Jun 2020 | 28 Jul 2020 | 46 | 43% | 38% | 19% | 47% |
| 01 Jan 2020 - 30 Jun 2020 | 14 Sept 2021 | 45 | 42% | 39% | 19% | 48% |
| 01 Jul 2019 - 31 Dec 2019 | 06 Mar 2020 | 45 | 36% | 45% | 20% | 52% |
| 01 Jan 2019 - 30 Jun 2019 | 29 Oct 2019 | 47 | 37% | 40% | 23% | 51% |
| 01 Jul 2018 - 31 Dec 2018 | 25 Jul 2019 | 44 | 40% | 40% | 20% | 44% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 46 | 30% | 45% | 25% | 53% |
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
TIP does not propose one standard term but our most common agreed payment terms is 30 days from the date of invoice. We agree payment terms on a case by case basis dependent on the size of the supplier's business, the services/goods they supply, and the level of spend. This is a mutual arrangement. TIP's payment terms are always based on a number of days after the invoice.
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
120
Dispute Resolution Process
TIP is proactive in contacting suppliers with reasons why submitted invoices cannot be processed. TIP operates a purchase order system and all suppliers are required to obtain a purchase order prior to invoice. In the event of there being a query relating to a purchase order such as the amount, the supplier is encouraged to contact the relevant branch or Head Office function that issued the purchase order in order to resolve the dispute. TUP UK has a centralised Accounts Payable function who are always on hand to help suppliers with queries by pointing them to the relevant branch or department and explaining reasons for queried invoices, the department has a dedicated mailbox accountspayable@tipeurope.com. This team will always be able to help advise timescales for payment and query resolution. The TIP AP department clearly communicates the work authorisation process requirement and invoicing requirements to all suppliers. Each payment dispute is individually considered on its own merits.
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
TIP Trailer Services UK Limited is a leading provider of trailer services in the UK. They offer a range of sustainable solutions for their customers, including trailer rental, maintenance, and repair services. Their focus on sustainability is evident in their operations and their commitment to reducing their environmental impact.
The company offers a wide range of high-quality trailers, including refrigerated, curtain-sided, and flatbed trailers. These trailers are designed to meet the specific needs of their customers, whether it be for short-term or long-term rental. TIP Trailer Services also offers a variety of innovative telematics solutions to help customers track and manage their trailers more efficiently.
The key people at TIP Trailer Services UK Limited include their Managing Director, Simon Bird, and their Operations Director, James How. Both have extensive experience in the transportation and logistics industry, and are committed to driving the company's sustainability initiatives.
In terms of sustainability, TIP Trailer Services has implemented various measures to reduce their environmental impact. This includes investing in fuel-efficient vehicles, using renewable energy sources, and implementing recycling programs at their facilities. They also offer their customers the option to switch to electric trailers, reducing their carbon footprint.
To further support their sustainability efforts, TIP Trailer Services has also partnered with various organizations and charities to promote environmental awareness and conservation. They also have a dedicated team that regularly reviews and updates their sustainability policies and practices.
For more information on TIP Trailer Services UK Limited and their products and services, you can visit their website at https://www.tipeurope.co.uk/. Their registered office address is TIP Trailer Services UK Limited, 6th Floor, 25 Farringdon Street, London, EC4A 4AB.
