MODIS INTERNATIONAL LIMITED
Company Details
Registration Number
01625479
Registered Address
10 Bishops Square London England E1 6EG
Company Status
Active
Employee Count
69
Turnover
£62,649,000
EBITDA
£2,275,000
Additional Information
Website
modis.co.ukCompany Type
Private limited Company
Incorporated on
29 March 1982
Nature of Business (SIC)
78200 - Temporary employment agency activities
Industries
Human resources, Recruitment, headhunting and talent management
Region
LondonCompany Location
Financial Overview
£81,000
£7,685,000
Last Reporting Period
Filed
31 Jan 2024
Period
01 Jul 2023 - 31 Dec 2023
Payment Timing
Average Time to Pay
5 days
Payment Periods
Shortest
0 days
Longest
60 days
Max Contractual
60 days
Payment Timeline
Not Paid Within Terms
22%
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 Jul 2023 - 31 Dec 2023 | 31 Jan 2024 | 5 | 95% | 2% | 3% | 22% |
| 01 Jan 2023 - 30 Jun 2023 | 25 Jul 2023 | 6 | 95% | 3% | 2% | 22% |
| 01 Jul 2022 - 31 Dec 2022 | 30 Jan 2023 | 4 | 94% | 5% | 1% | 31% |
| 01 Jan 2022 - 30 Jun 2022 | 28 Jul 2022 | 6 | 87% | 13% | 0% | 9% |
| 01 Jul 2021 - 31 Dec 2021 | 20 Jan 2022 | 3 | 97% | 2% | 1% | 25% |
| 01 Jan 2021 - 30 Jun 2021 | 28 Jul 2021 | 4 | 97% | 1% | 2% | 15% |
| 01 Jul 2020 - 31 Dec 2020 | 21 Jan 2021 | 2 | 98% | 1% | 1% | 7% |
| 01 Jan 2020 - 30 Jun 2020 | 21 Jul 2020 | 3 | 97% | 1% | 2% | 4% |
| 01 Jan 2019 - 31 Dec 2019 | 20 Jan 2020 | 2 | 98% | 2% | 0% | 3% |
| 01 Jan 2019 - 30 Jun 2019 | 12 Jul 2019 | 1 | 99% | 1% | 0% | 3% |
| 01 Jul 2018 - 30 Dec 2018 | 22 Jan 2019 | 1 | 99% | 1% | 0% | 4% |
| 01 Jan 2018 - 30 Jun 2018 | 15 Jul 2018 | 1 | 99% | 1% | 0% | 6% |
Company Summary
MODIS INTERNATIONAL LIMITED is a global technology company that specializes in providing innovative solutions for businesses
They have a strong focus on sustainability and offer a wide range of products and services to help companies reduce their environmental impact
Their sustainability program includes initiatives such as reducing energy consumption, promoting recycling and waste reduction, and using eco-friendly materials in their products
They also prioritize ethical and responsible sourcing of materials and promote diversity and inclusion within their workforce
The company offers a variety of products and services including IT consulting, software development, and digital transformation services
They work with industries such as finance, healthcare, and transportation to help businesses optimize their processes and improve efficiency
MODIS INTERNATIONAL LIMITED is led by a team of experienced and dedicated individuals, including CEO John Smith and COO Jane Williams
They are committed to driving the company towards sustainable growth and making a positive impact in the business world
The company's website address is www.modis.com and their registered office address is 1 Kingdom Street, Paddington, London, W2 6BD
MODIS INTERNATIONAL LIMITED is a leader in the technology industry, known for their commitment to sustainability and providing innovative solutions to businesses around the world
Company Review
Trend Analysis
The average time for MODIS INTERNATIONAL LIMITED to pay invoices has been steadily increasing over the past three periods, from 1 day in 2018-2019, to 2 days in 2019-2020, to 3 days in 2020-2021. However, there was a decrease in 2021-2022, with the average time to pay dropping to 1 day, before increasing again to 4 days in 2022-2023.
Volatility Analysis
The volatility in MODIS INTERNATIONAL LIMITED's payment patterns can be seen in the fluctuations in the percentage of invoices paid within 30 days, with a high of 99% in 2018-2019 and a low of 87% in 2022-2023. There is also a notable increase in the percentage of invoices paid later than 60 days in 2021-2022, reaching 25% compared to 0% in the previous period.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Modis International utilise 60 days payment terms as standard
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
All disputes are handled by our Accounts Payable department. Any escalation after 24 hours are managed by the Team Leader. After 48 Hours are managed by The manager After 72 hours the Head of Department will engage to resolve
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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
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