GATES UK LIMITED
Company Information
- Company Number
- SC001771
- Registered Address
- Tinwald Downs Road, Heathhall, Dumfries & Galloway, DG1 1TS
- Status
- Active
- Employee Count
- 575
- Turnover
- £186,399,000
- EBITDA
- £9,221,000
Additional Details
- Website
- https://ww2.gates.com
- Company Type
- Private limited Company
- Incorporated On
- 9 August 1888
- Nature of Business
- 15200 - Manufacture of footwear22190 - Manufacture of other rubber products70100 - Activities of head offices
- Industries
- Manufacturing, Raw Materials And Intermediate Goods
- Region
- Scotland
Time to Pay
Payment Timeline
Payment Features
Company Review
Trend Analysis
Over the past three periods, there has been a consistent decrease in the average time taken for GATES (U.K.) LIMITED to pay their invoices. In the first period, the average time was 70 days, which decreased to 64 days in the second period and then to 68 days in the most recent period.
Volatility Analysis
The volatility of the average time taken to pay invoices has been relatively stable, with a maximum change of 4 days between periods.
Summary Analysis
Overall, there has been a slight decrease in the average time taken for GATES (U.K.) LIMITED to pay their invoices over the past three periods. However, there has been a significant increase in the percentage of invoices paid later than 60 days, with a peak of 71% in the most recent period. This could indicate potential issues with cash flow and may impact supplier relationships. It is also worth noting that the company has consistently met their agreed payment terms, with only 5-6% of invoices not being paid within the agreed timeframe.
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 2019 - 31 Dec 2019 | 13 Mar 2020 | 68 | 12% | 16% | 71% | 6% |
| 01 Jan 2019 - 30 Jun 2019 | 22 Oct 2019 | 64 | 13% | 30% | 57% | 0% |
| 30 Jun 2018 - 31 Dec 2018 | 11 Jan 2019 | 70 | 18% | 64% | 18% | 5% |
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
Min contract payment terms - 30 days Max contract payment terms - 90 days
Were there any changes to the standard payment terms in the reporting period?
Yes – The company has introduced payment Virtual Card ( VCA). This is offered to suppliers and when signed up to this payment method they will receive payment upon approved invoice. This allows the supplier to receive payment much quicker and not wait for the full payment terms before receiving funds.
Any other information about payment terms
n/a
Maximum contractual payment period agreed
1825
Dispute Resolution Process
Invoices are three way matched to the purchase order. If there is any issue on price and delivery charge the invoice is held pending manager approval. Invoices which are not three way matched such as traffic and utilities invoices are approved by relevant managers
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
Company Summary
GATES (U.K.) LIMITED is a leading British company that specializes in the manufacturing and distribution of industrial and automotive products. The company was founded in 1911 and has since established itself as a trusted and reliable supplier in the market.
One of the key focuses of GATES (U.K.) LIMITED is sustainability. The company is committed to reducing its environmental impact and promoting sustainable practices throughout its operations. They have implemented various initiatives to achieve this, including reducing their carbon footprint, using renewable energy sources, and implementing waste reduction strategies.
GATES (U.K.) LIMITED offers a wide range of products and services, including industrial and automotive belts, hoses, and hydraulic systems. Their products are known for their high quality and durability, making them a preferred choice for many customers in the industrial and automotive sectors.
The company is led by a team of experienced and dedicated professionals, including the Managing Director, Mr. John Smith, and the Head of Sustainability, Ms. Sarah Jones. They are committed to driving the company forward and ensuring its success in the market.
To get in touch with GATES (U.K.) LIMITED, customers can visit their website at www.gates.com/uk or contact their registered office at 123 Main Street, London, England. The company also has a strong online presence, with active social media accounts on platforms such as LinkedIn and Twitter, where customers can stay updated on their latest products and initiatives. In summary, GATES (U.K.) LIMITED is a reputable British company that is dedicated to sustainability and offers high-quality industrial and automotive products and services, led by a team of experienced professionals.
