INDUSTRIAL TURBINE COMPANY (UK) LIMITED
Company Information
- Company Number
- 09003402
- Registered Address
- C A Parsons Works, Shields Road, Newcastle Upon Tyne, England, NE6 2YL
- Status
- Active
- Employee Count
- Coming Soon
- Turnover
- Coming Soon
- EBITDA
- Coming Soon
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 22 April 2014
- Nature of Business
- 33120 - Repair of machinery33200 - Installation of industrial machinery and equipment
- Industries
- Coming Soon
- Region
- North East
Time to Pay
Payment Timeline
Payment Features
Company Review
Trend Analysis
INDUSTRIAL TURBINE COMPANY (UK) LIMITED exhibits a consistent trend towards extended payment cycles, with an average payment time of 49 days. A significant majority, 52% of payments, are made beyond 60 days, while only 31% are settled within 30 days. This trajectory indicates that suppliers should anticipate longer payment windows.
Volatility Analysis
The payment profile demonstrates considerable volatility, as only 31% of invoices are paid within 30 days while a substantial 52% exceed 60 days. This wide variance makes payment predictability low, posing a direct risk to supplier cash flow management. Furthermore, the 14% late payment rate highlights a consistent unreliability factor in their payment practices.
Summary Analysis
Based on this analysis, suppliers should exercise caution when establishing payment terms with INDUSTRIAL TURBINE COMPANY (UK) LIMITED. It is recommended to factor in the high likelihood of extended payment cycles and potential lateness into pricing or consider requesting shorter payment terms or upfront deposits. Implementing robust follow-up procedures for invoices exceeding 60 days will be crucial for managing cash flow effectively.
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 Apr 2025 - 30 Sept 2025 | 30 Oct 2025 | 49 | 31% | 17% | 52% | 14% |
| 01 Oct 2024 - 31 Mar 2025 | 29 Apr 2025 | 48 | 31% | 25% | 44% | 19% |
| 01 Apr 2024 - 30 Sept 2024 | 30 Oct 2024 | 47 | 29% | 29% | 42% | 13% |
| 01 Oct 2023 - 31 Mar 2024 | 29 Apr 2024 | 54 | 22% | 24% | 54% | 14% |
| 01 Apr 2023 - 30 Sept 2023 | 30 Oct 2023 | 51 | 26% | 24% | 50% | 15% |
| 01 Oct 2022 - 31 Mar 2023 | 26 Apr 2023 | 50 | 26% | 26% | 48% | 15% |
| 01 Apr 2022 - 30 Sept 2022 | 25 Oct 2022 | 44 | 33% | 32% | 35% | 18% |
| 01 Oct 2021 - 31 Mar 2022 | 02 May 2022 | 46 | 35% | 25% | 40% | 19% |
| 01 Apr 2021 - 30 Sept 2021 | 27 Oct 2021 | 44 | 36% | 23% | 41% | 30% |
| 01 Oct 2020 - 31 Mar 2021 | 29 Apr 2021 | 48 | 31% | 27% | 42% | 35% |
| 01 Apr 2020 - 30 Sept 2020 | 28 Oct 2020 | 46 | 35% | 20% | 45% | 25% |
| 01 Oct 2019 - 31 Mar 2020 | 30 Apr 2020 | 44 | 39% | 19% | 42% | 32% |
| 01 Apr 2019 - 30 Sept 2019 | 28 Oct 2019 | 37 | 47% | 18% | 35% | 33% |
| 01 Oct 2018 - 31 Mar 2019 | 29 Apr 2019 | 33 | 54% | 19% | 28% | 39% |
| 01 Apr 2018 - 30 Sept 2018 | 30 Oct 2018 | 29 | 60% | 16% | 24% | 35% |
| 01 Oct 2017 - 31 Mar 2018 | 23 Apr 2018 | 25 | 66% | 22% | 13% | 39% |
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
The payment terms are assigned by the Business units on a case by case basis:- Payment terms usage :- Intercompany invoices paid immediately following the month of invoice receipt 19%. Please note Intercompany clearing terms are available to Siemens Energy companies only and payment method for such terms results in clearing of such transactions without any transmission of money external to Siemens Energy cash pool. 3rd party payment terms 60 days 41%,75 days 26%, 90 days 5%, 10 days 3%, 30 days 3%, 45 days 2% and the remaining terms have less than 1% occurrence which also includes a max of 120 days The payment statistics excluding the ICC transactions are as follows :- Average time it took to pay an invoice 60 days, Split of payments 0-30 days 16%, 31-60 days 20%, 61+days 64% Invoices paid late 16%.
Were there any changes to the standard payment terms in the reporting period?
Changes were for specific suppliers after consultation with the supplier.
Any other information about payment terms
0% of the overall transactions showed pre-agreed discounts with the suppliers.
Maximum contractual payment period agreed
120
Dispute Resolution Process
1) Central Accounts Payable (AP) team for payment enquiries, contact points via e-mail/supplier portal. Relevant details are on Purchase Orders and are as follow :- E-mail:ap.industrialturbine.cz@siemens.com 2) AP liaise with supplier to obtain and process missing invoices / Check existing systems provider/e-invoice process queue to see if invoice already in query and/or returned to suppler) 3) AP liaise with suppliers to confirm payment details (past and upcoming) 4) AP liaise with approvers to release overdue invoices for payment 5) Special team deals with ‘final demand’ cases and legal notices
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
INDUSTRIAL TURBINE COMPANY (UK) LIMITED is an active private limited company operating within the industrial turbine sector, as indicated by its corporate name
The company was incorporated on 22 April 2014 and is registered under company number 09003402
Its registered office is located at C A Parsons Works, Shields Road, Newcastle Upon Tyne, England, NE6 2YL, placing it within the North East region of the UK
Companies operating in the industrial turbine sector in the UK typically specialise in the provision, maintenance, and servicing of industrial turbines
This often includes supplying new units, offering repair and overhaul services, and providing essential spare parts and technical support to various industrial applications
