Industry ranking
The trend for KEYMED (MEDICAL & INDUSTRIAL EQUIPMENT) LIMITED shows a slight increase in the average time to pay from 2018 to 2022, with a peak in 2020. However, there has been a consistent increase in the percentage of invoices paid within 30 days, indicating an improvement in timely payments. The percentage of invoices paid between 31 and 60 days has remained relatively stable, while the percentage of invoices paid later than 60 days has fluctuated.
The volatility for KEYMED (MEDICAL & INDUSTRIAL EQUIPMENT) LIMITED can be seen in the fluctuations in the percentage of invoices not paid within agreed terms and the percentage of invoices paid later than 60 days. These numbers have varied significantly from period to period, indicating a lack of consistency in payment practices.
From 2018 to 2022, KEYMED (MEDICAL & INDUSTRIAL EQUIPMENT) LIMITED has seen a slight increase in the average time to pay, with a peak in 2020. However, there has been a consistent improvement in timely payments, with an increase in the percentage of invoices paid within 30 days. The percentage of invoices paid between 31 and 60 days has remained stable, while the percentage of invoices paid later than 60 days has fluctuated. The company has also consistently maintained a standard payment period of 14 days.
| 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 Oct 2025 - 31 Mar 2026 | 30 Mar 2026 | 26 | 78% | 7% | 15% | 32% |
| 01 Oct 2021 - 31 Mar 2022 | 29 Apr 2022 | 41 | 52% | 22% | 26% | 11% |
| 01 Apr 2021 - 30 Sept 2021 | 21 Oct 2021 | 41 | 49% | 25% | 26% | 13% |
| 01 Oct 2020 - 31 Mar 2021 | 30 Apr 2021 | 49 | 32% | 29% | 39% | 10% |
| 01 Apr 2020 - 30 Sept 2020 | 26 Oct 2020 | 51 | 30% | 27% | 43% | 7% |
| 01 Oct 2019 - 31 Mar 2020 | 28 Apr 2020 | 45 | 39% | 28% | 33% | 9% |
| 01 Apr 2019 - 30 Sept 2019 | 11 Oct 2019 | 45 | 41% | 27% | 31% | 9% |
| 01 Oct 2018 - 31 Mar 2019 | 25 Apr 2019 | 42 | 46% | 26% | 28% | 11% |
| 01 Apr 2018 - 30 Sept 2018 | 19 Oct 2018 | 44 | 40% | 29% | 31% | 16% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Under KeyMed (Medical & Industrial Equipment) Ltd’s standard payment terms, we aim to pay within 30 days from the invoice date, where an undisputed invoice has been received. There are various terms agreed. 14 days for smaller suppliers, 30 days net monthly for overseas suppliers. Intercompany standard terms are 60 days on 20th of the month. There are ad-hoc invoices that have immediate payment terms.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
90
Accounts Payable look to resolve disputes internally with the requisitioner of the PO. Where there are queries with an invoice, a dispute is raised with the supplier for investigation and correction. If an agreement cannot be reached, a meeting will be requested with the relevant parties to find a resolution.
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.
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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.
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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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
KEYMED (MEDICAL & INDUSTRIAL EQUIPMENT) LIMITED is a long-established company based in Southend-on-Sea, incorporated in 1969 and previously named Keymed (Specialised Medical Equipment) Limited. Companies House records its business as the manufacture of electronic measuring and testing equipment, other electrical equipment, and medical and dental instruments and supplies, together with non-specialised wholesale trade. It is majority owned and controlled by Olympus Keymed Group Limited, which holds 75% or more of its shares and voting rights and can appoint or remove its directors, indicating the company operates as part of a wider corporate group rather than as an independent trading entity. The company remains active and continues to file accounts and confirmation statements with Companies House.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk · find-and-update.company-information.service.gov.uk