MILLGATE DEVELOPMENTS LIMITED
Company Information
- Company Number
- 02229073
- Registered Address
- 11 Tower View, Kings Hill, West Malling, Kent, United Kingdom, United Kingdom, ME19 4UY
- Status
- Active
- Employee Count
- Coming Soon
- Turnover
- Coming Soon
- EBITDA
- -£2,400,000
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 10 March 1988
- Nature of Business
- 41202 - Construction of domestic buildings
- Industries
- Property, Infrastructure And Construction
- Region
- South East
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
MILLGATE DEVELOPMENTS LIMITED exhibits an average payment time of 36 days, indicating a consistent tendency to pay slightly beyond standard 30-day terms. While 57% of payments are made within 30 days, a significant 34% extend into the 31-60 day range, suggesting a regular pattern of payments drifting past initial due dates.
Volatility Analysis
The payment profile shows moderate predictability, with a clear concentration around the 30-60 day mark rather than extreme volatility. However, the 26% overall late payment rate, coupled with 9% of payments exceeding 60 days, highlights a notable risk of extended payment delays. Suppliers should anticipate that approximately one-quarter of invoices will be paid late, with a small but significant portion being very late.
Summary Analysis
Suppliers engaging with MILLGATE DEVELOPMENTS LIMITED should factor in an average payment cycle of 36 days and be prepared for potential delays beyond 30 days. It is advisable to carefully evaluate cash flow impacts and consider setting slightly longer payment expectations or negotiating specific terms for larger orders. To mitigate risk, consider implementing stricter credit limits, requesting partial upfront payments for significant projects, or offering incentives for early payment.
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 Sept 2023 | 30 Oct 2023 | 36 | 57% | 34% | 9% | 26% |
| 01 Oct 2022 - 31 Mar 2023 | 28 Apr 2023 | 28 | 60% | 33% | 8% | 10% |
| 01 Apr 2022 - 30 Sept 2022 | 27 Oct 2022 | 27 | 67% | 31% | 2% | 15% |
| 01 Oct 2021 - 31 Mar 2022 | 27 Apr 2022 | 32 | 48% | 46% | 6% | 25% |
| 01 Apr 2021 - 30 Sept 2021 | 29 Oct 2021 | 34 | 49% | 44% | 7% | 25% |
| 01 Oct 2020 - 31 Mar 2021 | 30 Apr 2021 | 33 | 51% | 44% | 5% | 27% |
| 01 Apr 2020 - 30 Sept 2020 | 27 Oct 2020 | 32 | 52% | 43% | 5% | 25% |
| 01 Oct 2019 - 31 Mar 2020 | 22 Apr 2020 | 30 | 59% | 37% | 4% | 13% |
| 01 Apr 2019 - 30 Sept 2019 | 24 Oct 2019 | 30 | 59% | 38% | 3% | 15% |
| 01 Oct 2018 - 31 Mar 2019 | 29 Apr 2019 | 30 | 53% | 43% | 4% | 21% |
| 01 Apr 2018 - 30 Sept 2018 | 24 Oct 2018 | 30 | 58% | 38% | 4% | 20% |
| 01 Oct 2017 - 31 Mar 2018 | 23 Apr 2018 | 33 | 52% | 41% | 7% | 22% |
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
Where payment relates to services provided by a subcontractor, payment of any sum ascertained as due in accordance with Millgate’s Sub-Contract Agreement is to be settled fortnightly. Where the payment relates to goods or services the terms differ, and are required to be paid the month after the month of the date of the invoice, unless agreed otherwise.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
61
Dispute Resolution Process
Dispute resolution is a three step process that starts with the dispute being referred to the relevant Manager within the business. Millgate and the Vendor will then seek to settle the dispute by negotiation. If the dispute is not resolved it shall be referred to expert determination.
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
MILLGATE DEVELOPMENTS LIMITED is an active private limited company specialising in property development. Its operations focus on the development sector within the UK.
The company was incorporated on 10 March 1988 and operates under company number 02229073. Its registered office is situated at 11 Tower View, Kings Hill, West Malling, Kent, United Kingdom, ME19 4UY, indicating its base within the South East of England.
As a property development company, MILLGATE DEVELOPMENTS LIMITED is involved in the acquisition of land, securing planning permissions, and overseeing the construction of new residential or commercial properties. Their typical services encompass managing development projects from design through to completion and sale within the UK property market.
