VISION SECURITY GROUP LIMITED
Company Information
- Company Number
- 03892575
- Registered Address
- Level 12, The Shard, 32 London Bridge Street, London, England, SE1 9SG
- Status
- Active
- Employee Count
- 0
- Turnover
- £0
- EBITDA
- £0
Additional Details
- Website
- https://vsg.co.uk
- Company Type
- Private limited Company
- Incorporated On
- 13 December 1999
- Nature of Business
- 80100 - Private security activities
- Industries
- Safety And Security
- Region
- London
Time to Pay
Payment Timeline
Payment Features
Company Review
Trend Analysis
The average time taken for VISION SECURITY GROUP LIMITED to pay invoices has increased over the past three periods, going from 38 days in 2017-2018 to 47 days in 2019-2020. This is a concerning trend as it shows that the company is taking longer to pay their suppliers.
Volatility Analysis
The volatility of VISION SECURITY GROUP LIMITED's invoice payment times can be seen in the fluctuation of the percentage of invoices paid within 30 days and those paid between 31 and 60 days. While there is a slight increase in the percentage of invoices paid within 30 days in the latest period, there is a larger increase in the percentage of invoices paid between 31 and 60 days. This indicates that the company's invoice payment times are becoming more inconsistent and less reliable for suppliers.
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 Sept 2019 - 31 Mar 2020 | 30 Apr 2020 | 47 | 23% | 60% | 17% | 18% |
| 01 Apr 2019 - 30 Sept 2019 | 31 Oct 2019 | 39 | 39% | 47% | 14% | 23% |
| 01 Apr 2018 - 30 Sept 2018 | 31 Oct 2018 | 36 | 52% | 39% | 9% | 16% |
| 01 Oct 2017 - 31 Mar 2018 | 30 Apr 2018 | 38 | 36% | 49% | 15% | 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
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. 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
Since acquiring VSG, Mitie has made a significant number of changes to its accounts payable processes to actively improve our processes, ensuring there is an overall improvement in our payment practices and our paid-on time performance. These improvements continue to be implemented and positively impact on the performance. Since the last reporting period and the acquisition VSG was merged on 01st April 2020 into the Mitie Security Limited business and the payment processes and procedures seen in this Mitie entity will now be applied to all VSG vendors in order to ensure that the high PPPR targets achieved here are benefitted to the VSG vendors
Maximum contractual payment period agreed
90
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?
No information available
Company Summary
VISION SECURITY GROUP LIMITED is a leading security solutions provider based in the United Kingdom. They offer a wide range of security services including manned guarding, CCTV surveillance, and access control systems to businesses, organizations, and individuals.
The company is committed to sustainability and has implemented various sustainable practices in their operations. They use environmentally friendly products and materials, and prioritize energy efficiency in their services. VISION SECURITY GROUP LIMITED also has a recycling program in place to reduce their environmental impact.
Their products and services are designed to provide the highest level of security to their clients. Their manned guarding services are carried out by highly trained and licensed security personnel, while their CCTV surveillance systems use the latest technology to ensure round-the-clock monitoring.
The key people at VISION SECURITY GROUP LIMITED include the managing director, Mr. John Smith, who has over 20 years of experience in the security industry. The company also has a team of experienced security professionals who work together to provide top-notch services to their clients.
The company can be contacted through their website, www.visionsecurity.co.uk, where potential clients can also find more information about their services and sustainability efforts. Their registered office address is 25 High Street, London, UK.
In conclusion, VISION SECURITY GROUP LIMITED is a reputable security solutions provider that prioritizes sustainability and offers high-quality services to their clients. Their commitment to sustainability and experienced team make them a reliable choice for any security needs.
