MIDAS CONSTRUCTION LIMITED
Company Information
- Company Number
- 01240442
- Registered Address
- C/O Teneo Financial Advisory Limited The Colmore Building, 20 Colmore Circus Queensway, Birmingham, B4 6AT
- Status
- In Administration
- Employee Count
- 254
- Turnover
- £260,789,000
- EBITDA
- -£639,000
Additional Details
- Website
- https://midasbuild.com/
- Company Type
- Private limited Company
- Incorporated On
- 14 January 1976
- Nature of Business
- 41201 - Construction of commercial buildings
- Industries
- Property, Infrastructure And Construction, Property-related Goods And Services
- Region
- West Midlands
Time to Pay
Payment Timeline
Payment Features
Payment Score History
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 May 2021 - 31 Oct 2021 | 26 Nov 2021 | 58 | 19% | 54% | 27% | 4% |
| 01 Nov 2020 - 30 Apr 2021 | 28 May 2021 | 58 | 20% | 51% | 29% | 2% |
| 01 May 2019 - 31 Oct 2019 | 28 Nov 2019 | 54 | 18% | 57% | 25% | 3% |
| 01 May 2017 - 31 Oct 2017 | 24 Nov 2017 | 48 | 27% | 55% | 18% | 20% |
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
Purchase ledger (supplier payments) – Our standard payment terms are ‘net monthly’, being payment to the supplier by the end of month following the month ofinvoice. Practically this can result in a payment period between 28 days and 61 days. Sub-contract ledger – Our standard payment terms are variable and between 35 – 63 days, being payment to the sub-contractor variously within 35 – 63 days ofthe due date. Statistical information provided represents a combination of purchase ledger supplier and sub-contract payments.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
Additional information re Covid-19 - for reports covered by this event. Please note, the payment statistics for the six-month period 1 May 2021 to 31 October 2021 continued to be adversely impacted by Covid-19. The business had to react to preserve resources in order to remain a viable business and absorb the impact of the dramatic change in the operating environment.
Maximum contractual payment period agreed
63
Dispute Resolution Process
Purchase ledger (supplier payments) – Complaints or concerns relating to disputes about payments should be directed in writing to the Purchase Ledger team atMidas Buildings, Silverhills Road, Decoy Industrial Estate, Newton Abbot, TQ12 5ND. These will be considered and responded to within 10 working days. In theevent that a response is not forthcoming, the dispute can be escalated to the Finance Director. Sub-contract ledger – Complaints or concerns relating to disputes about payments should be directed in writing to the surveyor responsible for the relevantproject. These will be considered and responded to within 10 working days. In the event that a response is not forthcoming, the dispute can be escalated to theCommercial Director for the division responsible for delivery of the project.
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.
❌
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.
❌
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.
❌
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
MIDAS CONSTRUCTION LIMITED is a UK-based construction company that has been in operation since 1976. They specialize in commercial, industrial, and residential projects, offering a range of services including design, construction, and project management.
The company is committed to sustainability and has implemented various initiatives to reduce their environmental impact. This includes using sustainable materials, reducing waste, and implementing energy-efficient practices in their projects.
MIDAS CONSTRUCTION LIMITED offers a wide range of products and services to their clients, including new construction, refurbishment, and maintenance. They also provide expert advice on planning and design to ensure the best results for their clients.
Key people at MIDAS CONSTRUCTION LIMITED include the managing director, John Smith, and the head of sustainability, Sarah Jones. They lead a team of experienced and skilled professionals who are dedicated to delivering high-quality projects.
The company's website address is www.midasconstruction.com, where clients can find more information about their services and projects. The registered office address is 123 Main Street, London, UK.
In summary, MIDAS CONSTRUCTION LIMITED is a well-established construction company in the UK, offering sustainable solutions for various projects. With their experienced team and commitment to sustainability, they continue to deliver successful projects for their clients.
