WEX EUROPE SERVICES UK LIMITED
Company Information
- Company Number
- 08903805
- Registered Address
- 7th Floor, Hyphen Building, 75 Mosley Street, Manchester, England, M2 3HR
- Status
- Active
- Employee Count
- 0.0
- Turnover
- 12208000.0
- EBITDA
- 762000.0
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 20 February 2014
- Nature of Business
- 46711 - Wholesale of petroleum and petroleum products
- Industries
- Property,Infrastructure And Construction
- Region
- North West
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 | 05 Feb 2024 | 13 | 90% | 10% | 0% | 13% |
| 01 Jan 2023 - 30 Jun 2023 | 31 Jul 2023 | 16 | 90% | 9% | 1% | 11% |
| 01 Jul 2022 - 31 Dec 2022 | 08 Feb 2023 | 15 | 89% | 10% | 1% | 12% |
| 01 Jan 2022 - 30 Jun 2022 | 10 Aug 2022 | 15 | 89% | 11% | 0% | 9% |
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 17 | 87% | 12% | 1% | 6% |
| 01 Jan 2020 - 30 Jun 2020 | 31 Jul 2020 | 18 | 82% | 12% | 6% | 11% |
| 01 Jul 2019 - 31 Dec 2019 | 31 Jan 2020 | 14 | 89% | 10% | 1% | 9% |
| 01 Jan 2019 - 30 Jun 2019 | 29 Jul 2019 | 16 | 84% | 12% | 4% | 16% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 11 | 87% | 12% | 1% | 9% |
| 01 Jan 2018 - 30 Jun 2018 | 02 Aug 2018 | 9 | 89% | 11% | 0% | 9% |
Company Summary
WEX EUROPE SERVICES (UK) LIMITED is a leading provider of fuel cards and fleet management solutions in the United Kingdom
The company is committed to sustainability and offers a range of products and services that help businesses reduce their carbon footprint and improve their environmental impact
One of the key products offered by WEX EUROPE SERVICES (UK) LIMITED is their fuel card, which allows businesses to monitor and manage their fuel consumption
This helps companies to optimize their fuel usage and reduce emissions, leading to a more sustainable operation
The company also offers a range of fleet management solutions, including telematics, which help businesses to track and monitor their vehicles, leading to more efficient and eco-friendly driving practices
WEX EUROPE SERVICES (UK) LIMITED is dedicated to promoting sustainability in all aspects of its operations
The company has implemented a number of initiatives to reduce its own environmental impact, such as using renewable energy sources and promoting recycling and waste reduction
They also work with suppliers who share their commitment to sustainability
The key people at WEX EUROPE SERVICES (UK) LIMITED include Managing Director Peter McAllister and Commercial Director Steve Turner, who lead the company's efforts in promoting sustainable practices
The company's website (www.wexeuropeservices.com) provides more information on their products and services, as well as their sustainability program
Their registered office address is in Crewe, Cheshire
In conclusion, WEX EUROPE SERVICES (UK) LIMITED is a leading provider of sustainable fuel and fleet management solutions in the UK
Their commitment to sustainability, along with their range of innovative products and services, make them a valuable partner for businesses looking to reduce their environmental impact
Company Review
Trend Analysis
The average time taken for WEX EUROPE SERVICES (UK) LIMITED to pay invoices has increased from 9 days in the first period (Jan 2018 - June 2018) to 17 days in the current period (Jan 2021 - June 2021). This shows a steady trend of longer payment times over the past three years.
Volatility Analysis
The biggest change in the data occurred between the second and third periods (July 2018 - June 2019), where the average time taken to pay invoices increased from 11 days to 16 days, and the percentage of invoices paid later than 60 days increased from 1% to 4%. This shows a significant increase in payment times and a decrease in timely payments during this period.
Summary Analysis
Overall, there has been a steady increase in the average time taken for WEX EUROPE SERVICES (UK) LIMITED to pay invoices over the past three years. The percentage of invoices paid within 30 days has remained relatively high, but there has been some fluctuation in the percentage of invoices paid later than 60 days, with a peak of 6% in the current period.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
WEX Europe Services (UK) Ltd has payment terms of 30 days, this can vary dependent on supplier.
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
The accounts payable team are informed of any queries by the authoriser of the invoices and these are in turn queried with the supplier. Once the query has been resolved the supplier will be paid in accordance with its payment term or if the invoice is past due then on the next payment run.
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
