NOVUS PROPERTY SOLUTIONS LIMITED
Company Information
- Company Number
- 02403551
- Registered Address
- Five Towns House Hillside, Festival Way, Stoke-On-Trent, Staffordshire, England, ST1 5SH
- Status
- Active
- Employee Count
- 701
- Turnover
- £191,777,000
- EBITDA
- £3,492,000
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 12 July 1989
- Nature of Business
- 43341 - Painting43390 - Other building completion and finishing
- 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 Jan 2024 - 30 Jun 2024 | 30 Jul 2024 | 29 | 56% | 40% | 4% | 10% |
| 01 Jul 2023 - 31 Dec 2023 | 30 Jan 2024 | 27 | 59% | 36% | 5% | 18% |
| 01 Jan 2023 - 30 Jun 2023 | 26 Jul 2023 | 36 | 47% | 48% | 5% | 11% |
| 01 Jan 2022 - 30 Jun 2022 | 29 Jul 2022 | 32 | 51% | 43% | 6% | 18% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 27 | 60% | 35% | 5% | 22% |
| 01 Jan 2020 - 30 Jun 2020 | 29 Jul 2020 | 33 | 44% | 50% | 6% | 9% |
| 01 Jul 2019 - 31 Dec 2019 | 28 Jan 2020 | 28 | 54% | 42% | 4% | 22% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 29 | 58% | 37% | 5% | 12% |
| 01 Jul 2018 - 31 Dec 2018 | 25 Jan 2019 | 26 | 60% | 37% | 3% | 13% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 30 | 52% | 42% | 6% | 14% |
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
Material and overhead invoices are paid 30 days from end of month of invoice unless specifically agreed otherwise. Subcontractors are required to submit applications by no later than the 21st of the month, reflecting the anticipated valuation of work delivered as at that month end (Valuation Date). Following the principles of the Construction Act, the Due Date for approved applications is 35 days after the Valuation Date, with the final date for payment 14 days after the Due Date. Subcontractors have the opportunity to request weekly payments. Further information on payment terms can be found at novussolutions.co.uk/tc
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
49
Dispute Resolution Process
Novus seeks to avoid disputes by maintaining an open dialogue with its supply chain. When disputes arise Novus seeks to resolve the matter via the following channels: Disputes should be discussed with the ordering party. If this does not resolve the situation the matter should be escalated to both parties’ immediate line management. If this escalation fails to achieve a mutually acceptable solution the matter will be referred to a director for a final decision. Novus aims to resolve all disputes without third party intervention but on occasion this may be necessary and there are a number of options available to our supply chain: • Subcontract disputes may be referred to adjudication. • Non-subcontract disputes, and subcontract disputes that cannot be resolved by adjudication - either party may escalate the matter to a court of law. In the case of subcontract disputes Novus may opt for Arbitration as an alternative method of dispute resolution to a court of law.
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
NOVUS PROPERTY SOLUTIONS LIMITED is a leading property maintenance and refurbishment company based in the United Kingdom. The company was founded in 1897 and has since then established a strong reputation for delivering high-quality services to its clients.
The company offers a wide range of services, including planned and reactive maintenance, refurbishment, and construction projects for both commercial and social housing properties. Their sustainability program is a key focus for the company, with a commitment to reducing their environmental impact and promoting sustainable practices. This includes using eco-friendly materials and implementing energy-efficient solutions in their projects.
NOVUS PROPERTY SOLUTIONS LIMITED has a dedicated team of professionals, including experienced project managers, surveyors, and tradespeople, who work together to provide exceptional services and meet the needs of their clients. The company also values the development and well-being of its employees, providing training and career progression opportunities.
In addition to their services, NOVUS PROPERTY SOLUTIONS LIMITED offers a range of products, including a patented anti-graffiti coating, which helps to protect and maintain the appearance of buildings. They also offer a 24/7 emergency response service to ensure their clients' properties are always well-maintained.
The company's website (www.novussolutions.co.uk) provides a comprehensive overview of their services, projects, and sustainability initiatives. Their registered office address is NOVUS PROPERTY SOLUTIONS LIMITED, First Floor, 1-3 College Yard, Worcester, WR1 2LB, United Kingdom.
In conclusion, NOVUS PROPERTY SOLUTIONS LIMITED is a reputable company in the property maintenance and refurbishment industry, known for its high-quality services and commitment to sustainability. With a dedicated team and a wide range of services and products, they continue to be a trusted partner for many clients in the UK.
