MIKI TRAVEL LIMITED
Company Information
- Company Number
- 01509274
- Registered Address
- Vintners Place, 68 Upper Thames Street, London, EC4V 3BJ
- Status
- Active
- Employee Count
- 136
- Turnover
- £12,928,000
- EBITDA
- -£5,056,000
Additional Details
- Website
- https://miki.co.uk/
- Company Type
- Private limited Company
- Incorporated On
- 25 July 1980
- Nature of Business
- 79110 - Travel agency activities79120 - Tour operator activities79909 - Other reservation service activities not elsewhere classified96090 - Other service activities not elsewhere classified
- Industries
- Travel And Transportation
- Region
- London
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
The average time taken for MIKI TRAVEL LIMITED to pay invoices to suppliers has fluctuated over the past three periods, with a slight overall increase from 2017-2018 to 2018-2021. The percentage of invoices paid within 30 days has also fluctuated, with a decrease in the most recent period. The percentage of invoices paid later than 60 days has increased significantly in the most recent period, while the percentage of invoices not paid within agreed terms has also increased.
Volatility Analysis
The data for MIKI TRAVEL LIMITED shows volatility in the average time taken to pay invoices, with fluctuations in each period. The percentage of invoices paid within 30 days has also varied, with an overall decrease over the past three periods. The percentage of invoices paid later than 60 days has shown the most volatility, with a significant increase in the most recent period. The percentage of invoices not paid within agreed terms has also fluctuated, with an overall increase over the past three periods.
Summary Analysis
From 2017-2018 to 2018-2021, MIKI TRAVEL LIMITED has seen a slight increase in the average time taken to pay invoices, with a decrease in the percentage of invoices paid within 30 days. The most significant change has been an increase in the percentage of invoices paid later than 60 days, with the most recent period showing a significant increase. The percentage of invoices not paid within agreed terms has also increased over the past three periods.
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 Feb 2021 - 31 Jul 2021 | 04 Aug 2021 | 70 | 63% | 20% | 17% | 21% |
| 01 Aug 2020 - 31 Jan 2021 | 10 Feb 2021 | 73 | 40% | 35% | 25% | 35% |
| 01 Feb 2020 - 31 Jul 2020 | 07 Sept 2020 | 40 | 50% | 45% | 5% | 9% |
| 01 Aug 2019 - 31 Jan 2020 | 05 Feb 2020 | 36 | 58% | 39% | 3% | 4% |
| 01 Feb 2019 - 31 Jul 2019 | 16 Sept 2019 | |||||
| 01 Aug 2018 - 31 Jan 2019 | 28 Feb 2019 | 37 | 57% | 39% | 2% | 4% |
| 01 Feb 2018 - 31 Jul 2018 | 22 Aug 2018 | 40 | 61% | 36% | 3% | 5% |
| 01 Aug 2017 - 31 Jan 2018 | 28 Feb 2018 | 39 | 66% | 29% | 5% | 6% |
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
Creditors send invoices throughout the month. For the following payment types, Automatic Clearing House USD and Automatic Clearing House CAD - the standard payment period is 30 days. Invoices arriving between the 1st and the 15th get paid at the end of the current month. Invoices arriving between the 16th and the last day of the month get paid on the 15th of the following month. For the other payments our terms are to pay by the 15th of the following month, regardless of what day of the month the invoice is received. This results in a maximum standard payment period of 45 days. Our average payment days are less than 45 days because the majority of creditors invoice us close the month end and get paid by the 15th of the following month.
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
45
Dispute Resolution Process
We have an accounts payable team which go through email queries (a dedicated email address is set up for queries). They will check if invoices are on the system and liaise directly with suppliers to obtain missing invoices so that these can be processed for payment and these will be paid within days of receiving the missing invoice. Where we dispute a charge, we will process both the invoice and then a debit note for the disputed amount. We will then reduce our liability on the vendor account and pay the vendor the reduced amount.
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
MIKI TRAVEL LIMITED is a travel company based in the United Kingdom that offers a variety of services to its customers. The company was established in 1967 and has since become a leading provider of travel solutions globally.
The company's sustainability program is a key focus, with a commitment to reducing its environmental impact through various initiatives such as reducing carbon emissions, promoting sustainable tourism, and supporting local communities. They also offer sustainable travel options to their customers, including eco-friendly accommodations and responsible tourism activities.
MIKI TRAVEL LIMITED offers a wide range of products and services, including hotel reservations, tour packages, ground transportation, and visa services. They cater to both leisure and corporate travelers, providing customized solutions to meet their specific needs. The company has strong partnerships with major hotel chains and travel suppliers, ensuring their customers have access to the best deals and options.
The key people at MIKI TRAVEL LIMITED include the CEO, Mr. Tatsuo Shimizu, and the Managing Director, Mr. Jane Wakabayashi. They lead a team of experienced professionals who are dedicated to providing high-quality services to their clients.
The company's website, www.miki.co.uk, is a user-friendly platform where customers can easily book their travel arrangements. It also provides information on the company's sustainability efforts and updates on their latest products and services.
The registered office of MIKI TRAVEL LIMITED is located at 50 Jermyn Street, London, SW1Y 6LX, United Kingdom. Customers can also contact them through their customer service hotline at +44 (0)20 7434 4000 or via email at info@miki.co.uk.
In conclusion, MIKI TRAVEL LIMITED is a well-established travel company in the UK that offers sustainable travel options and a wide range of services to its customers. With a strong commitment to sustainability, experienced leadership, and a user-friendly website, the company continues to be a preferred choice for travelers seeking quality and responsible travel solutions.
