Their own payment-practices filing · gov.uk

How long does Industrial Turbine Company (UK) Limited take to pay its suppliers?

Q: What is a Payment Practices Report?

UK companies and LLPs above a size threshold — broadly, two of: turnover over £54m, balance sheet over £27m, or more than 250 employees — must report twice a year, under the Reporting on Payment Practices and Performance Regulations 2017, how quickly they actually pay suppliers: the average time to pay, the share of invoices paid in 30 days or fewer, 31 to 60 days and 61 days or longer, and their standard payment terms. Those thresholds apply to financial years beginning on or after 6 April 2025; for earlier financial years they were £36m and £18m, with the same 250-employee test.

Q: What does "paid outside agreed terms" mean?

The share of invoices paid later than the terms in the supplier contract. If terms are 30 days and an invoice is paid on day 45, it counts as paid outside terms, regardless of the headline average.

Q: How often is this data updated?

Each report covers a six-month period and must be filed within 30 days of that period ending, so a company's record refreshes roughly twice a year. PaidLate re-reads the register as new reports are filed.

Q: Is this official government data?

The underlying payment figures come from the company's own statutory filings on the gov.uk payment-practices service; company-status data comes from Companies House. PaidLate calculates trends, comparisons and summaries from those records. It does not use surveys or credit-agency scores.

CRN 09003402 · Manufacturing · 17 statutory reports on record · period to 31 Mar 2026

68days

their reported average time to pay suppliers, latest period

Well behindvs a 31-day median across 6,185 recent filers

Self-reported figure from their statutory filing. How this is compiled.

On the public register · Companies House

Company record

Status: Active
Type: Private Limited Company
Incorporated: 22 Apr 2014
Registered office: C A PARSONS WORKS, NEWCASTLE UPON TYNE, NE6 2YL

0 outstanding charges on the register Accounts due 30 Jun 2027

Open the full record at Companies House.

Terms vs reality

Stated terms: 0–120 days. Reported average: 68.

Stated terms0–120d

+68 days

Reported avg68d

At a glance

The key figures

0–120d

their stated terms

20%

invoices paid outside terms

+17d

slower over the window

±11d

variable pattern

Vs peers · latest reported averages

fasterslower

Slower than 88% of the 992 large companies reporting in manufacturing.

The pattern

Getting slower

Average days to pay across their last 6 statutory reports.

H2 2023H1 2024H2 2024H1 2025H2 2025H1 2026

Where their supplier invoices land · latest period

within 30 days 4% 31–60 days 34% 61+ days 62%

The read · computed from their figures

Industrial Turbine Company (UK) Limited has filed 17 statutory payment periods (earliest H1 2018). Their latest report puts the average at 68 days against stated terms of 0–120 days.

The direction is slower: from 51 to 68 days over the window — about 17 days slower.

In the latest period 20% of invoices were paid outside their agreed terms, and 62% landed 61+ days out.

What they tell their suppliers

Offers e-invoicing Offers supply-chain finance

In their own words · from the filing

Standard payment terms

The payment terms are assigned by the Business units on a case by case basis:- Payment terms usage : Intercompany Clearing payment terms and are paid immediately in the month following the receipt of the invoice. Please note Intercompany clearing terms are available to Siemens Energy companies only and payment method for such terms results in clearing of such transactions without any transmission of money external to Siemens Energy cash pool. 3rd party payments terms usage is as follows <30 days 68% 60 days 15%, 34 days 5%, 75 days 6%, 45 days 1%, 90 Days 2%, 30 days 1%, 120 Days 1% and the remainder with payment terms of less than 1% occurrences which includes the max payment term of days. The payment statistics excluding the ICC transactions are as follows :- Average time it took to

Dispute resolution

1) Central Accounts Payable (AP) team for payment enquiries, contact points via phone/e-mail/supplier portal. Relevant details are on Purchase Orders. E-mail:[email protected] 2) AP liaise with supplier to obtain and process missing invoices a) Check existing systems (scan provider/e-invoice provider/invoice process queue to see if invoice already in query and/or returned to supplier) 3) AP liaise with suppliers to confirm payment details (past and upcoming) 4) AP liaise with approvers to release overdue invoices for payment 5) Special team deals with ‘final demand’ cases and legal notices

Other information

0% of the overall transactions showed pre-agreed discounts with the suppliers.

Every statutory report on record

Most recent first.

Period	Avg days	Outside terms	61+ days	Filed
H1 2026	68	20%	62%	1 May 2026
H2 2025	49	14%	52%	30 Oct 2025
H1 2025	48	19%	44%	29 Apr 2025
H2 2024	47	13%	42%	30 Oct 2024
H1 2024	54	14%	54%	29 Apr 2024
H2 2023	51	15%	50%	30 Oct 2023
H1 2023	50	15%	48%	26 Apr 2023
H2 2022	44	18%	35%	25 Oct 2022
H1 2022	46	19%	40%	2 May 2022
H2 2021	44	30%	41%	27 Oct 2021
H1 2021	48	35%	42%	29 Apr 2021
H2 2020	46	25%	45%	28 Oct 2020
H1 2020	44	32%	42%	30 Apr 2020
H2 2019	37	33%	35%	28 Oct 2019
H1 2019	33	39%	28%	29 Apr 2019
H2 2018	29	35%	24%	30 Oct 2018
H1 2018	25	39%	13%	23 Apr 2018

Working-capital effect

What a 68-day cycle ties up

Illustrative. On a hypothetical £12k/month account, at a 68-day vs a 0-day payment cycle.

≈ £27,000

of invoicing outstanding at any one time on a 68-day cycle — about £26,800 more than the same account would carry at 0-day terms.

Late Payment Act. The Late Payment of Commercial Debts Act lets a supplier charge statutory interest and fixed compensation on invoices paid past agreed terms. Work out what a late invoice is worth → Whether it applies depends on your contract — check with an adviser.

Quick answers

Are they getting slower or faster?

Their reported average has moved about 17 days slower over the window (51 → 68 days).

What's their typical pay point?

Their latest reports average around day 68, moving within about ±11 days. Treat that as a historical reference point, not a promise for a new invoice.

Can I see what this means for my invoices?

Run the live check — it re-reads their record and their live Companies House file, on the amount you invoice.

Stay ahead

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How UK payment reporting works

What is a Payment Practices Report?

UK companies and LLPs above a size threshold — broadly, two of: turnover over £54m, balance sheet over £27m, or more than 250 employees — must report twice a year, under the Reporting on Payment Practices and Performance Regulations 2017, how quickly they actually pay suppliers: the average time to pay, the share of invoices paid in 30 days or fewer, 31 to 60 days and 61 days or longer, and their standard payment terms. Those thresholds apply to financial years beginning on or after 6 April 2025; for earlier financial years they were £36m and £18m, with the same 250-employee test.

What does "paid outside agreed terms" mean?

The share of invoices paid later than the terms in the supplier contract. If terms are 30 days and an invoice is paid on day 45, it counts as paid outside terms, regardless of the headline average.

How often is this data updated?

Each report covers a six-month period and must be filed within 30 days of that period ending, so a company's record refreshes roughly twice a year. PaidLate re-reads the register as new reports are filed.

Is this official government data?

The underlying payment figures come from the company's own statutory filings on the gov.uk payment-practices service; company-status data comes from Companies House. PaidLate calculates trends, comparisons and summaries from those records. It does not use surveys or credit-agency scores.

How this is compiled. Built from official records only: Companies House and the gov.uk payment-practices service. The payment figures are self-reported — companies over the size threshold must file them by law and the board signs them off. No credit-agency data. The numbers are theirs; the plain-English read is ours. This is information compiled from public records under the Open Government Licence v3.0 — not a credit rating and not advice.

The 31-day comparison figure is the median across 6,185 companies with a current statutory report — every sector pooled, not an average of sector medians (how the figure is built).

Report PL-09003402 · latest period to 31 Mar 2026

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