TMD FRICTION UK LIMITED
Company number: 04330235
Reporting period:
1 January 2025 to 30 June 2025
Report filed on:
4 August 2025
Approved by:
Anthony Rookes
Payment statistics
Average time taken to pay invoices: 56 days
Total value paid:
- within 30 days: £11,805,628 (31%)
- in 31 to 60 days: £15,809,114 (41%)
- in 61 days or more: £10,669,755 (28%)
Invoices paid:
- within 30 days: 31%
- in 31 to 60 days: 41%
- in 61 days or more: 28%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £12,960,122
- payments due in the reporting period which have not been paid within the agreed period: 34%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
90 days
Standard payment terms
Standard payment terms for suppliers are no more than 60 days end of month, and in the case of intercompany suppliers 45 days end of month.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
90 days
Payments are made on a weekly basis on a Friday and all invoices due by the following Thursday are included on this run to aim to reduce late payments.
Any other information about payment terms
No further comment provided
Dispute resolution process
The Accounts Payable team have assigned vendor accounts, so as any disputes arise they will already have a relationship with said vendor and will aim to work through any recognised disputes. In the event this is not possible, the dispute will be escalated to the finance manager and to the purchasing team.
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.
No
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.
Yes
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