MAGNESIUM ELEKTRON LIMITED
Company number: 03141950
Reporting period:
1 July 2025 to 31 December 2025
Report filed on:
30 January 2026
Approved by:
Stephen Webster
Payment statistics
Average time taken to pay invoices: 46 days
Total value paid:
- within 30 days: £10,938,801 (42%)
- in 31 to 60 days: £9,879,427 (38%)
- in 61 days or more: £5,048,677 (20%)
Invoices paid:
- within 30 days: 42%
- in 31 to 60 days: 38%
- in 61 days or more: 20%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £11,551,230
- payments due in the reporting period which have not been paid within the agreed period: 45%
- not made in the reporting period due to a dispute: 45%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
120 days
Standard payment terms
Majority of our suppliers are on 30 days, start by offering 60 days however most suppliers tend to enforce 30 days
Were there any changes to the standard payment terms in the reporting period?
Suppliers do ask for improved terms and these will be negotiated by procurement and senior management
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
120 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Invoice queries are dealt with in a timely manner, to ensure invoices are paid on time. Relevent departments are sent invoices when queries arise.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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.
Yes
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.
No
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?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No