BRITISH STEEL LIMITED
Company Information
- Company Number
- 09438207
- Registered Address
- 2 St Peter's Square, Manchester, England, M2 3EY
- Status
- Liquidation
- Employee Count
- 4,238
- Turnover
- £1,177,874,000
- EBITDA
- -£3,143,000
Additional Details
- Website
- https://britishsteel.co.uk
- Company Type
- Private limited Company
- Incorporated On
- 13 February 2015
- Nature of Business
- 24100 - Manufacture of basic iron and steel and of ferro-alloys
- Industries
- Raw Materials And Intermediate Goods
- Region
- North West
Time to Pay
Payment Timeline
Payment Features
Company Review
Trend Analysis
The average time taken for BRITISH STEEL LIMITED to pay invoices has remained relatively consistent over the three periods analysed, with a slight increase in the most recent period. However, there has been a decrease in the percentage of invoices paid within 30 days and an increase in the percentage of invoices paid later than 60 days.
Volatility Analysis
The volatility of BRITISH STEEL LIMITED's invoice payment process is relatively low, with only small changes seen in the average time to pay and percentages of invoices paid within different time frames.
Summary Analysis
Between Apr 2018 and Sep 2018, BRITISH STEEL LIMITED had an average time to pay of 70 days, with 14% of invoices paid within 30 days, 29% paid between 31-60 days, and 57% paid later than 60 days.
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 2018 - 30 Sept 2018 | 29 Oct 2018 | 70 | 14% | 29% | 57% | 80% |
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
Standard payment terms are the end of the month 60 days after the date of the invoice. Longest standard payment terms are the end of the month 90 days after the date of 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
90
Dispute Resolution Process
A supplier will be made aware as early as possible if there is a dispute with their invoice. The invoice will be parked until the dispute is resolved. Once resolved the invoice will be paid in accordance with the terms of the order or on the next available payment run if the dispute makes the invoice overdue.
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?
❌
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
British Steel Limited is a leading steel production company in the United Kingdom. The company was founded in 2016 and is headquartered in London, with its registered office located in Scunthorpe, Lincolnshire.
The company's main activities include the production and distribution of high-quality steel products for various industries such as construction, automotive, and manufacturing. British Steel is known for its strong commitment to sustainability and has implemented various initiatives to reduce its environmental impact. This includes using recycled materials in its production process and investing in energy-efficient technologies.
British Steel offers a wide range of products, including long steel products such as rails, wire rods, and sections, as well as specialty steels for specific applications. The company also provides a variety of services such as technical support, training, and consultancy to its customers.
The key people at British Steel include the executive team led by the CEO, Ron Deelen, and the Chairman, Peter Hogg. The company has a workforce of over 4,000 employees and operates in multiple locations across the UK and Europe.
For more information on British Steel's products, services, and sustainability program, customers can visit their website at www.britishsteel.co.uk. The company's registered office address is British Steel, Scunthorpe, North Lincolnshire, DN16 1BP, United Kingdom.
