STORK TECHNICAL SERVICES UK LIMITED
Company Information
- Company Number
- SC161193
- Registered Address
- Norfolk House, Pitmedden Road, Dyce, Aberdeen, AB21 0DP
- Status
- Active
- Employee Count
- 1,906
- Turnover
- £230,445,000
- EBITDA
- £17,538,000
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 25 October 1995
- Nature of Business
- 09100 - Support activities for petroleum and natural gas extraction
- Industries
- Property,Infrastructure And Construction
- Region
- Scotland
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
The average time to pay for invoices by STORK TECHNICAL SERVICES UK LIMITED has decreased from 50 days in the first period (Jan 2018 - Jun 2018) to 32 days in the most recent period (Jan 2021 - Jun 2021). This shows an improvement in the company's payment efficiency. The percentage of invoices paid within 30 days has also increased from 20% to 54%, indicating that the company is making more timely payments to its suppliers.
Volatility Analysis
The volatility in the time taken to pay invoices has decreased from 2018 to 2021, as seen by the decreasing trend in the average time to pay. This suggests that the company has implemented measures to improve its payment processes and maintain consistency in its payment timelines.
Summary Analysis
Looking at the data for the past three periods (Jan 2019 - Jun 2021), STORK TECHNICAL SERVICES UK LIMITED has shown a steady improvement in payment efficiency. The average time to pay has decreased from 42 days to 32 days, and the percentage of invoices paid within 30 days has increased from 47% to 54%. However, the company still has room for improvement as the percentage of invoices paid later than 60 days remains relatively high at 12%.
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 Jan 2021 - 30 Jun 2021 | 11 Aug 2021 | 32 | 54% | 34% | 12% | 23% |
| 01 Jul 2020 - 31 Dec 2020 | 11 Aug 2021 | 37 | 50% | 33% | 17% | 27% |
| 01 Jan 2020 - 30 Jun 2020 | 11 Aug 2021 | 46 | 49% | 35% | 16% | 26% |
| 01 Jun 2019 - 31 Dec 2019 | 11 Aug 2021 | 42 | 42% | 35% | 23% | 36% |
| 01 Jan 2019 - 30 Jun 2019 | 07 Aug 2019 | 36 | 47% | 39% | 14% | 26% |
| 01 Jul 2018 - 31 Dec 2018 | 01 Feb 2019 | 40 | 41% | 38% | 21% | 34% |
| 01 Jan 2018 - 30 Jun 2018 | 31 Jul 2018 | 50 | 20% | 60% | 19% | 40% |
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
60 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
N/A
Maximum contractual payment period agreed
60
Dispute Resolution Process
Senior management aim to resolve first with customer directly, with assistance from the Regional Director. Otherwise, options are possible arbitration or ultimately pursuing legal action.
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
Company Summary
STORK TECHNICAL SERVICES UK LIMITED is a multinational engineering and project management company based in the United Kingdom. The company provides a wide range of services in the oil and gas, chemical, and power industries.
The sustainability program of STORK TECHNICAL SERVICES UK LIMITED is focused on reducing the environmental impact of their operations and promoting sustainable practices. This includes implementing energy-efficient solutions, reducing waste, and promoting responsible sourcing.
Their products and services include asset integrity management, maintenance and modification, turnaround and shutdown management, and consultancy services. They also offer innovative solutions for digitalization, automation, and data analytics to optimize operations and increase efficiency.
The company is led by a team of experienced and highly skilled professionals, including CEO Steve Hunt and Chairman Richard Brown. They are committed to delivering high-quality services and maintaining strong relationships with their clients.
STORK TECHNICAL SERVICES UK LIMITED can be contacted through their website, which provides information on their services, projects, and career opportunities. The registered office address is Stork House, Westlakes Science & Technology Park, Moor Row, Cumbria, CA24 3HU, United Kingdom.
In conclusion, STORK TECHNICAL SERVICES UK LIMITED is a leading engineering and project management company that is committed to sustainability and providing innovative solutions to their clients. With a strong team and a focus on responsible practices, they continue to be a trusted partner in the industry.
