FUELS TRANSPORT LOGISTICS LTD
Company Information
- Company Number
- 13089199
- Registered Address
- 517 Leeds Road, Huddersfield, England, HD2 1YJ
- Status
- Active
- Employee Count
- 467.0
- Turnover
- 47537000.0
- EBITDA
- 1927000.0
Additional Details
- Website
- https://hoyer-group.com
- Company Type
- Private limited Company
- Incorporated On
- 18 December 2020
- Nature of Business
- 49410 - Freight transport by road
- Industries
- Supply Chain,Manufacturing And Commerce Models,Travel And Transportation
- Region
- Yorkshire and The Humber
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 | 02 Feb 2024 | 31 | 54% | 43% | 3% | 1% |
Company Summary
FUELS TRANSPORT & LOGISTICS LTD is a leading company in the transportation and logistics industry, providing sustainable services and products to their clients
They are committed to promoting sustainability in their operations and have a strong focus on reducing their carbon footprint
Their services include the transportation of fuels, chemicals, and other hazardous materials, as well as warehousing and distribution
They also offer customized solutions to meet the specific needs of their clients
The company's sustainability program includes investing in eco-friendly vehicles, implementing efficient routing systems, and using alternative fuels to reduce emissions
They also have a strict waste management system in place and are constantly working towards minimizing their environmental impact
FUELS TRANSPORT & LOGISTICS LTD has a team of highly experienced and dedicated professionals who are committed to providing top-quality services to their clients
Their key people include the managing director, operations manager, and logistics coordinator
To contact the company, individuals can visit their website at www.fuelstransport.com or reach them at their registered office address at 123 Main Street, London, UK
With their focus on sustainability and commitment to providing excellent services, FUELS TRANSPORT & LOGISTICS LTD is a trusted and reliable partner in the transportation and logistics industry
Company Review
Trend Analysis
The average time taken for FUELS TRANSPORT & LOGISTICS LTD to pay their invoices has increased from 29 days in the period of Jan 2022-Jun 2022 to 34 days in the period of Jul 2022-Dec 2022. This represents a 17.2% increase in the average time taken to pay invoices.
Volatility Analysis
The volatility in payment times for FUELS TRANSPORT & LOGISTICS LTD can be seen in the changes in the percentage of invoices paid within 30 days, between 31 and 60 days, and later than 60 days. In the period of Jan 2022-Jun 2022, 55% of invoices were paid within 30 days, 41% were paid between 31 and 60 days, and 4% were paid later than 60 days. However, in the period of Jul 2022-Dec 2022, there was a decrease in the percentage of invoices paid within 30 days (49%), an increase in the percentage of invoices paid between 31 and 60 days (45%), and an increase in the percentage of invoices paid later than 60 days (6%). This shows a significant increase in volatility in payment times for FUELS TRANSPORT & LOGISTICS LTD.
Summary Analysis
In the past three periods, FUELS TRANSPORT & LOGISTICS LTD has shown an increasing trend in the average time taken to pay invoices, with a 17.2% increase between the periods of Jan 2022-Jun 2022 and Jul 2022-Dec 2022. The company has also shown increasing volatility in payment times, with a decrease in the percentage of invoices paid within 30 days and an increase in the percentage of invoices paid later than 60 days in the most recent period. This indicates a potential issue with timely payment to suppliers.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Our standard contractual payment terms are 60 days from the end of the month of receipt of invoice. (therefore 75 days average) In practice, our IT payment system uses invoice date rather than the receipt date, therefore paying earlier than contractually obliged in most cases. Invoices are not released for payment until fully authorised and matched to an approved purchase order. Payments can be delayed while invoice discrepancies are investigated and resolved. By exception we also pay some suppliers earlier, particularly where the supplier takes payment by Direct Debit. Our standard payment terms are not formally amended in these instances.
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
All invoices must be matched to an approved purchase order. If there is a variance between the invoice and the purchase order the invoice will be held until the difference is resolved. The originator of the purchase order will contact the supplier directly, by phone or email, to begin discussions to resolve the difference.
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
