KEYMED MEDICAL INDUSTRIAL EQUIPMENT LIMITED
Company Information
- Company Number
- 00966736
- Registered Address
- Keymed House, Stock Road, Southend-On-Sea, SS2 5QH
- Status
- Active
- Employee Count
- 806
- Turnover
- £302,364,000
- EBITDA
- £29,076,000
Additional Details
- Website
- https://olympus.co.uk
- Company Type
- Private limited Company
- Incorporated On
- 21 November 1969
- Nature of Business
- 26511 - Manufacture of electronic measuring, testing etc. equipment, not for industrial process control27900 - Manufacture of other electrical equipment32500 - Manufacture of medical and dental instruments and supplies46900 - Non-specialised wholesale trade
- Industries
- Life Sciences And Medical Technology
- Region
- East of England
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
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.
Volatility Analysis
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.
Summary Analysis
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.
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 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% |
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
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
Any other information about payment terms
N/A
Maximum contractual payment period agreed
90
Dispute Resolution Process
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.
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.
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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?
❌
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
KEYMED (MEDICAL & INDUSTRIAL EQUIPMENT) LIMITED is a UK-based company that specializes in the manufacture and distribution of medical and industrial equipment. The company was founded in 1978 and has since become a leading provider of high-quality and innovative equipment to various industries.
The company's sustainability program is a core part of their business operation. They are committed to reducing their environmental impact by implementing sustainable practices in their manufacturing processes, such as using energy-efficient equipment and reducing waste. They also have a recycling program in place to properly dispose of any electronic waste from their products.
KEYMED offers a wide range of products and services in the medical and industrial sectors. Their medical division provides equipment for endoscopy, ophthalmology, surgical imaging, and patient monitoring. They also offer maintenance and repair services for their medical equipment.
In the industrial sector, KEYMED offers a variety of products for non-destructive testing, precision cutting, and research. They also provide customized solutions for clients with specific needs.
The company's key people include the managing director, Mr. John Sandford-Smith, who has over 30 years of experience in the industry, and the chairman, Mr. Paul Sandford-Smith, who has been with the company since its inception.
The company's website address is www.keymed.co.uk and their registered office address is Keymed House, Stock Road, Southend-on-Sea, Essex, SS2 5QH, United Kingdom. They also have offices and distributors in various countries worldwide, making their products and services accessible to a global market. Overall, KEYMED is a reputable and sustainable company that continues to innovate and provide high-quality equipment to various industries.
