REESINK UK LTD
Company Information
- Company Number
- 09893219
- Registered Address
- 1 Station Road, St. Neots, England, PE19 1QF
- Status
- Active
- Employee Count
- 118.0
- Turnover
- 49502000.0
- EBITDA
- 3757000.0
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 27 November 2015
- Nature of Business
- 46140 - Agents involved in the sale of machinery, industrial equipment, ships and aircraft
- Industries
- 0
- Region
- East of England
Company Location
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 |
|---|---|---|---|---|---|---|
| 31 Jul 2023 - 31 Dec 2023 | 09 Feb 2024 | 49 | 32% | 52% | 16% | 0% |
| 01 Jan 2023 - 30 Jun 2023 | 17 Jul 2023 | 69 | 45% | 44% | 11% | 55% |
| 01 Jul 2022 - 31 Dec 2022 | 03 Feb 2023 | 67 | 39% | 42% | 19% | 60% |
| 01 Jan 2022 - 30 Jun 2022 | 02 Aug 2022 | |||||
| 01 Jan 2022 - 30 Jun 2022 | 02 Aug 2022 | 42 | 39% | 47% | 14% | 61% |
| 01 Jul 2021 - 31 Dec 2021 | 03 Feb 2022 | |||||
| 01 Jul 2021 - 31 Dec 2021 | 03 Feb 2022 | 88% | ||||
| 01 Jul 2021 - 31 Dec 2021 | 03 Feb 2022 | 88 | 39% | 47% | 14% | 88% |
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 42 | 40% | 50% | 9% | 78% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 35 | 44% | 50% | 6% | 78% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 28 | 65% | 33% | 2% | 78% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 31 | 64% | 29% | 7% | 66% |
| 01 Jan 2019 - 30 Jun 2019 | 22 Jul 2019 | 38 | 55% | 33% | 11% | 65% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 35 | 54% | 38% | 8% | 66% |
| 01 Jan 2018 - 30 Jun 2018 | 02 Aug 2018 | 40 | 50% | 36% | 14% | 68% |
Company Summary
REESINK UK LTD is a leading company in the UK that specializes in the distribution of products and services for the agriculture, landscape, and irrigation sectors
The company is committed to sustainability and offers a range of innovative and eco-friendly solutions to its customers
The company's sustainability program focuses on reducing its carbon footprint, promoting renewable energy, and minimizing waste through efficient use of resources
They also prioritize working with suppliers who share their commitment to sustainability
REESINK UK LTD offers a wide range of products and services, including irrigation systems, turf maintenance equipment, and precision farming solutions
These products and services are designed to help customers improve their productivity while minimizing their impact on the environment
The key people at REESINK UK LTD include Managing Director, Mark Dewsbury, and Operations Director, Rob Jackson
Both have extensive experience in the industry and are dedicated to driving the company's sustainability efforts
To contact REESINK UK LTD, customers can visit their website at www.reesinkturfcare.co.uk or visit their registered office at 1-3 Station Road, St
Neots, Cambridgeshire, PE19 1QH
The company also has a strong online presence, with active social media accounts on platforms such as Twitter, LinkedIn, and YouTube
In summary, REESINK UK LTD is a sustainable company that offers a wide range of products and services to the agriculture, landscape, and irrigation sectors
With a commitment to sustainability and a team of experienced professionals, the company is dedicated to providing innovative solutions to its customers while minimizing its impact on the environment
Company Review
Trend Analysis
Overall, the average time for REESINK UK LTD to pay invoices has decreased from 40 days in 2018 to 49 days in 2023. There was a significant decrease in the average time to pay from 2020 to 2021, but it has since increased in 2022 and 2023.
Volatility Analysis
The percentage of invoices paid within 30 days has fluctuated between 50% and 64% over the past five years, with a slight decrease in 2023. The percentage of invoices paid between 31 and 60 days has remained relatively consistent at around 33% to 38%, with a slight increase in 2023. The percentage of invoices paid later than 60 days has decreased significantly from 14% in 2018 to 11% in 2023. The percentage of invoices not paid within agreed terms has also decreased from 68% in 2018 to 0% in 2023, indicating an improvement in payment efficiency. The shortest standard payment period has remained consistent at 30 days throughout all periods.
Summary Analysis
In general, REESINK UK LTD has been improving in terms of payment efficiency over the past five years, with a decrease in the average time to pay and a decrease in the percentage of invoices paid later than 60 days. However, there was a slight increase in the average time to pay and the percentage of invoices paid later than 60 days in 2022 and 2023. The company has consistently maintained a 30-day standard payment period.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
30 days from date of invoice
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
Our payment runs are prepared on a weekly basis to include figures due for payment up to the end of that week.
Maximum contractual payment period agreed
180
Dispute Resolution Process
Queries from suppliers are investigated by the finance department and internal checks are done to ensure that all goods or services have been received. Upon receipt of goods or services invoices are authorised and payment runs are completed on a weekly basis. Any queries are communicated to the correct internal departments and suppliers in order to resolve any issues as soon as possible.
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