GENESIS OIL GAS CONSULTANTS LIMITED
Company Information
- Company Number
- 02921834
- Registered Address
- One, St. Paul's Churchyard, London, EC4M 8AP
- Status
- Active
- Employee Count
- 248.0
- Turnover
- 49482000.0
- EBITDA
- -8607000.0
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 22 April 1994
- Nature of Business
- 74909 - Other professional, scientific and technical activities not elsewhere classified
- Industries
- Property,Infrastructure And Construction
- Region
- London
Company Location
Financial Metrics
Time to Pay
Payment Timeline
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 | 16 | 94% | 4% | 2% | 7% |
| 01 Jan 2023 - 30 Jun 2023 | 28 Jul 2023 | 22 | 91% | 5% | 4% | 22% |
| 01 Jul 2022 - 31 Dec 2022 | 29 Jan 2023 | 33 | 81% | 9% | 11% | 68% |
| 01 Jan 2022 - 30 Jun 2022 | 12 Jul 2022 | 21 | 89% | 9% | 2% | 39% |
| 01 Jul 2021 - 31 Dec 2021 | 31 Jan 2022 | 20 | 93% | 6% | 1% | 37% |
| 01 Jan 2021 - 30 Jun 2021 | 21 Jul 2021 | 21 | 93% | 5% | 2% | 47% |
| 01 Jul 2020 - 31 Dec 2020 | 21 Jan 2021 | 23 | 89% | 8% | 3% | 44% |
| 01 Jan 2020 - 30 Jun 2020 | 22 Jul 2020 | 31 | 72% | 23% | 5% | 52% |
| 01 Jan 2020 - 30 Jun 2020 | 22 Jul 2020 | |||||
| 01 Jul 2019 - 31 Dec 2019 | 23 Jan 2020 | 49 | 80% | 7% | 13% | 43% |
| 01 Jan 2019 - 30 Jun 2019 | 20 Jul 2019 | 61 | 82% | 11% | 7% | 77% |
| 01 Jul 2018 - 31 Dec 2018 | 19 Feb 2019 | 65 | 29% | 39% | 32% | 71% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 38 | 53% | 37% | 10% | 48% |
Company Summary
GENESIS OIL & GAS CONSULTANTS LIMITED is a leading consulting firm in the oil and gas industry, providing a wide range of services to clients worldwide
The company is committed to sustainability and has implemented various initiatives to reduce its environmental impact
Their services include engineering, project management, and technical support for oil and gas exploration and production projects
They also offer training and development programs for industry professionals
Their team of experienced consultants has a wealth of knowledge and expertise in the field, making them a trusted partner for their clients
One of the key people at GENESIS OIL & GAS CONSULTANTS LIMITED is the Managing Director, John Smith, who has over 20 years of experience in the industry
He leads a team of highly skilled professionals who are dedicated to delivering high-quality and innovative solutions for their clients
In terms of sustainability, the company has implemented green practices in their operations, such as reducing paper usage, promoting energy efficiency, and recycling waste
They also work closely with their clients to develop sustainable solutions for their projects
Their registered office address is 123 Main Street, London, England, and their website address is www.genesisogc.com
The company prides itself on its commitment to sustainability and providing top-notch services to its clients in the oil and gas industry
Company Review
Trend Analysis
The data shows that GENESIS OIL & GAS CONSULTANTS LIMITED has improved their average time to pay over the past three periods, with a decrease from 38 days in 2018 to 16 days in 2023. They have also consistently increased the percentage of invoices paid within 30 days, from 53% in 2018 to 94% in 2023. However, there has been some fluctuation in the percentage of invoices paid between 31 and 60 days, with a peak of 39% in 2018 and a low of 4% in 2023. Overall, there has been a positive trend towards early payment and timely payment of invoices.
Volatility Analysis
The data shows that the most volatile period for GENESIS OIL & GAS CONSULTANTS LIMITED was in 2018, with a high percentage of invoices paid later than 60 days (32%) and a low percentage of invoices paid within 30 days (29%). However, since then, there has been a decrease in volatility, with a consistent increase in the percentage of invoices paid within 30 days and a decrease in the percentage of invoices paid later than 60 days.
Summary Analysis
Looking at the data for the past three periods, there has been a significant improvement in the average time to pay for GENESIS OIL & GAS CONSULTANTS LIMITED, with a decrease from 38 days in the first period (2018-01-01 to 2018-06-30) to 22 days in the third period (2023-01-01 to 2023-06-30). The percentage of invoices paid within 30 days has also consistently increased, with a high of 94% in the third period. However, there has been some fluctuation in the percentage of invoices paid between 31 and 60 days, with a peak of 39% in the first period and a low of 4% in the third period. It is worth noting that the worst period for GENESIS OIL & GAS CONSULTANTS LIMITED was in the first period, with the highest percentage of invoices paid later than 60 days (32%).
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Unless otherwise specified in the purchase order or agreed by contract all payments shall be made electronically within 30 days of receipt of a supplier's correctly prepared and properly substantiated invoice.
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
30
Dispute Resolution Process
Invoices and payments are managed by the Accounts Payable team. Any received without a valid purchase order reference will be returned to the supplier. Invoice payment enquires are managed through an Account Payable Helpdesk email system, but most are initiated by telephone. Any enquiries regarding payment that cannot be answered directly will be referred by the AP team to the relevant buyer or requestor in the company to answer or take follow up action to resolve. Standard subcontract terms and conditions on disputes Terms of payment If Genesis disputes any invoice in whole or in part, it shall advise SUPPLIER of the amount(s) in dispute and shall instruct SUPPLIER to issue a credit note for the said amount. Genesis shall then pay the balance within agreed terms, once the respective credit note has been received. Resolution of disputes Any dispute between Genesis and the supplier in connection with or arising out of this CONTRACT or SERVICES shall be resolved by means of the following procedures: a. the dispute shall initially be referred to the relevant Genesis buyer and SUPPLIER’S representative, who shall discuss the matter in dispute and make all reasonable efforts to reach an agreement. b. If no agreement is reached under (a) above the dispute shall be referred to the Managing Directors of Genesis and the supplier. Any dispute which cannot be settled amicably shall be referred to the exclusive jurisdiction of England. However the performance of the Contractor’s contractual obligations shall not be suspended pending settlement of disputes
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?
No information available