VELUX COMPANY LTD
Company Details
Registration Number
SC070286
Registered Address
Woodside Way Glenrothes East Fife KY7 4ND
Company Status
Active
Employee Count
282
Turnover
£194,693,000
EBITDA
£7,829,000
Additional Information
Website
blog.velux.co.uk/Company Type
Private limited Company
Incorporated on
24 December 1979
Nature of Business (SIC)
46900 - Non-specialised wholesale trade
Industries
Furniture, furnishings and fixtures
Region
TaysideCompany Location
Financial Overview
£0
£7,832,717
Last Reporting Period
Filed
30 Jan 2024
Period
01 Jul 2023 - 31 Dec 2023
Payment Timing
Average Time to Pay
9 days
Payment Periods
Shortest
3 days
Longest
60 days
Max Contractual
60 days
Payment Timeline
Not Paid Within Terms
75%
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 | 30 Jan 2024 | 9 | 97% | 2% | 1% | 75% |
| 01 Jan 2023 - 30 Jun 2023 | 17 Jul 2023 | 10 | 97% | 2% | 1% | 67% |
| 01 Jul 2022 - 31 Dec 2022 | 11 Jan 2023 | 10 | 98% | 2% | 1% | 66% |
| 01 Jan 2022 - 30 Jun 2022 | 11 Jul 2022 | 13 | 95% | 4% | 1% | 63% |
| 01 Jul 2021 - 31 Dec 2021 | 17 Jan 2022 | 13 | 94% | 6% | 0% | 62% |
| 01 Jan 2021 - 30 Jun 2021 | 27 Jul 2021 | 15 | 96% | 3% | 1% | 49% |
| 01 Jul 2020 - 31 Dec 2020 | 18 Jan 2021 | 17 | 96% | 3% | 1% | 33% |
| 01 Jul 2019 - 31 Dec 2019 | 13 Jul 2020 | 15 | 95% | 4% | 1% | 34% |
| 01 Jul 2019 - 31 Dec 2019 | 28 Jan 2020 | 14 | 98% | 2% | 0% | 35% |
| 01 Jan 2019 - 30 Jun 2019 | 10 Jul 2019 | 28 | 93% | 4% | 3% | 37% |
| 01 Jul 2018 - 31 Dec 2018 | 04 Jul 2019 | 30 | 93% | 3% | 4% | 32% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 27 | 93% | 4% | 2% | 32% |
Company Summary
VELUX COMPANY LTD
is a global company that specializes in the production and sale of roof windows and skylights
They are committed to sustainability and have a strong focus on environmental responsibility in all aspects of their operations
Their sustainability program, called "VELUX 2030", sets ambitious goals for reducing their environmental impact
This includes reducing their carbon footprint, increasing the use of renewable energy, and implementing sustainable production methods
They also have a program called "VELUX Green Marketing", which ensures that their products are marketed in an environmentally responsible way
In addition to their sustainability efforts, VELUX offers a wide range of high-quality products and services
Their roof windows and skylights are designed to provide natural light, fresh air, and energy efficiency to buildings
They also offer a variety of blinds, shutters, and accessories to enhance the functionality and aesthetic of their products
The key people at VELUX COMPANY LTD
include their CEO, David Briggs, who has been with the company for over 25 years and has a strong background in engineering and business
They also have a team of dedicated employees who work towards their sustainability goals and provide excellent customer service
To contact VELUX COMPANY LTD., their website is www.velux.co.uk and their registered office address is Woodside Way, Glenrothes, Fife, KY7 4ND, United Kingdom
Their website also provides information on their products, sustainability efforts, and contact details for customer support
Overall, VELUX COMPANY LTD
is a leader in the industry, known for their commitment to sustainability and high-quality products and services
Company Review
Trend Analysis
The trend for VELUX COMPANY LTD. is generally stable, with a slight increase in the average time to pay over the past three periods. However, there was a significant decrease in the average time to pay between the periods of 2019-07-01 and 2020-12-31, which may indicate efforts towards improving payment efficiency.
Volatility Analysis
The volatility for VELUX COMPANY LTD. appears to be low, with consistent percentages of invoices paid within 30 days and between 31 and 60 days over the past three periods. However, there has been a noticeable increase in the percentage of invoices paid later than 60 days in the most recent period (2023-07-01 to 2023-12-31), which may indicate some issues with timely payments.
Summary Analysis
The average time to pay for VELUX COMPANY LTD. has remained relatively consistent over the past three periods, with a slight increase from 2018-01-01 to 2023-06-30. The percentage of invoices paid within 30 days has consistently been high, around 94-98%, indicating efficient payment practices. However, there has been a noticeable increase in the percentage of invoices paid later than 60 days in the most recent period (2023-07-01 to 2023-12-31), reaching a high of 75%. This may indicate a need for improvement in timely payments.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
20 days following invoice date
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
60
Dispute Resolution Process
If invoice received is inaccurate or incorrect, the purchaser will place on hold, held invoices will not be paid until issue is resolved with vendor by way of credit note and new invoice. Once the correct invoice is received it will be paid on next available payment date (daily payment runs).
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?
❌
