MITIE SHARED SERVICES LIMITED
Company Details
Registration Number
01597821
Registered Address
Level 12 The Shard 32 London Bridge Street London England England SE1 9SG
Company Status
Active
Employee Count
621
Turnover
£91,945,000
EBITDA
£25,908,000
Company Location
Financial Overview
£794,000
£-156,601,000
Last Reporting Period
Filed
27 Oct 2023
Period
01 Apr 2023 - 30 Sep 2023
Payment Timing
Average Time to Pay
32 days
Payment Periods
Shortest
30 days
Longest
60 days
Max Contractual
60 days
Payment Timeline
Not Paid Within Terms
34%
Payment Features
Payment Time Trends
Payment Distribution Trends
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 Apr 2023 - 30 Sep 2023 | 27 Oct 2023 | 32 | 69% | 26% | 5% | 34% |
| 01 Oct 2022 - 31 Mar 2023 | 27 Apr 2023 | 21 | 77% | 14% | 9% | 28% |
| 01 Apr 2022 - 30 Sep 2022 | 31 Oct 2022 | 28 | 70% | 21% | 9% | 24% |
| 01 Apr 2021 - 30 Sep 2021 | 28 Oct 2021 | 29 | 69% | 27% | 4% | 27% |
| 01 Oct 2020 - 31 Mar 2021 | 30 Apr 2021 | 33 | 57% | 35% | 8% | 34% |
| 01 Apr 2020 - 30 Sep 2020 | 29 Oct 2020 | 35 | 53% | 34% | 13% | 41% |
| 01 Sep 2019 - 31 Mar 2020 | 30 Apr 2020 | 33 | 60% | 22% | 18% | 36% |
| 01 Apr 2019 - 30 Sep 2019 | 31 Oct 2019 | 39 | 63% | 18% | 19% | 32% |
| 01 Oct 2018 - 31 Mar 2019 | 30 Apr 2019 | 38 | 57% | 19% | 25% | 27% |
| 01 Apr 2018 - 30 Sep 2018 | 26 Oct 2018 | 47 | 46% | 21% | 33% | 61% |
Company Summary
MITIE SHARED SERVICES LIMITED is a leading provider of facilities management and professional services in the UK
The company was established in 2014 and is headquartered in Bristol, with offices across the country
The company offers a wide range of services including cleaning, catering, security, energy management, and property maintenance
They also provide professional services such as finance, HR, and IT support to their clients, which include businesses, public sector organizations, and healthcare institutions
MITIE SHARED SERVICES LIMITED is committed to sustainability and has implemented several initiatives to reduce their environmental impact
They have a dedicated sustainability team that works towards reducing carbon emissions, promoting energy efficiency, and implementing waste management strategies
The company also offers eco-friendly solutions to their clients, such as green cleaning services and sustainable waste management practices
The key people at MITIE SHARED SERVICES LIMITED include CEO Phil Bentley, who has over 30 years of experience in the facilities management industry, and CFO Sandip Mahajan, who has a background in finance and strategic planning
The company's registered office address is at 8th Floor, 1 New York Street, Manchester, M1 4HD
Their website, www.mitie.com, provides more information on their services, sustainability efforts, and key personnel
Customers can also contact them through their website or by calling their customer service hotline at 0330 331 0020
In summary, MITIE SHARED SERVICES LIMITED is a reputable company that offers a wide range of facilities management and professional services with a strong focus on sustainability
Company Review
Trend Analysis
The trend for MITIE SHARED SERVICES LIMITED shows a consistent decrease in the average time taken to pay invoices over the past three periods. The company has also shown improvement in the percentage of invoices paid within 30 days, with a significant increase of 23% from the first period to the last. The percentage of invoices paid between 31 and 60 days has also decreased steadily, while the percentage of invoices paid later than 60 days has decreased significantly from 33% to 4%. This trend suggests that the company has been making efforts to pay invoices more promptly and within agreed terms.
Volatility Analysis
The volatility in the data for MITIE SHARED SERVICES LIMITED is relatively low, with small changes in the average time taken to pay invoices and percentages of invoices paid within different time frames. However, there is a notable spike in the percentage of invoices paid later than 60 days in the first period, which has significantly decreased in the following periods.
Summary Analysis
The data for MITIE SHARED SERVICES LIMITED shows a consistent improvement in the company's payment performance. The average time taken to pay invoices has decreased by 18% over the past three periods, and the percentage of invoices paid within 30 days has increased by 23%. The company has also shown a significant decrease in the percentage of invoices paid later than 60 days, which was at its highest in the first period. This improvement is a positive sign for suppliers, as it indicates that MITIE SHARED SERVICES LIMITED is making efforts to pay invoices more promptly and within agreed terms.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Our standard payment terms state that payment of supplier invoices for goods and services will be made 60 days from the end of the month in which a correct, undisputed and properly due VAT invoice is received, unless otherwise agreed by a duly authorised representative. However, consideration is also given to our SME suppliers where alternative payment terms, of 30 days from the end of the month in which a correct and undisputed VAT invoice is dated, may be agreed. The business also operates a no purchase order, no pay policy, unless otherwise agreed, in exceptional circumstances, by a duly authorised representative. Invoices received, and which do not include a valid purchase order number, are rejected and returned to the supplier.
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
60
Dispute Resolution Process
We recognise the strategic importance of our supply chain partners, and as such are committed to treating them fairly. Our preference is to always address disputes in a transparent and timely manner, always acting in good faith, through open and constructive discussion. If such discussions fail to resolve a dispute, an authorised representative of the supplier and the company shall, within 30 days of a written request from one party to the other, meet in good faith to resolve the dispute. If the dispute remains unresolved either the supplier or the company shall refer it to mediation in accordance with the Centre for Effective Dispute Resolution ("CEDR") Model Mediation Procedure that is in force at the date of the referral
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?
❌
