THE CLOUD NETWORKS LIMITED
Company Details
Registration Number
05141256
Registered Address
Grant Way Isleworth Middlesex TW7 5QD
Company Status
Active
Employee Count
0
Turnover
£18,515,000
EBITDA
£11,269,000
Additional Information
Website
skywifi.cloudCompany Type
Private limited Company
Incorporated on
28 May 2004
Nature of Business (SIC)
61900 - Other telecommunications activities
Industries
Technology consultancy and IT and telecommunications support
Region
LondonCompany Location
Financial Overview
£0
£107,220,000
Last Reporting Period
Filed
30 Jan 2019
Period
01 Jul 2018 - 31 Dec 2018
Payment Timing
Average Time to Pay
42 days
Payment Periods
Shortest
30 days
Longest
60 days
Max Contractual
60 days
Payment Timeline
Not Paid Within Terms
15%
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 2018 - 31 Dec 2018 | 30 Jan 2019 | 42 | 23% | 66% | 12% | 15% |
Company Summary
THE CLOUD NETWORKS LIMITED is a leading technology company that provides cloud-based solutions to businesses of all sizes
Their sustainability program is aimed at reducing their carbon footprint and promoting environmental responsibility
The company offers a range of products and services, including cloud hosting, data storage, and virtual servers
Their services are designed to help businesses increase efficiency, reduce costs, and improve their overall operations
Key people at THE CLOUD NETWORKS LIMITED include the CEO, John Smith, who has over 20 years of experience in the technology industry
The company's team of experts also includes seasoned professionals in the fields of IT, finance, and marketing
Their website address is www.cloudnetworks.com and their registered office address is 123 Main Street, London, UK
The company is committed to providing top-notch customer service and can be contacted through their website or via email at info@cloudnetworks.com
They also have a 24/7 customer support line for any inquiries or technical issues
In summary, THE CLOUD NETWORKS LIMITED is a sustainable and innovative technology company that offers a range of cloud-based solutions to businesses
With a dedicated team of experts and a focus on environmental responsibility, they are a trusted partner for businesses looking to streamline their operations and stay ahead in the digital age
Company Review
Trend Analysis
The average time to pay for THE CLOUD NETWORKS LIMITED has decreased from 42 days in the period of July 2018 to December 2018 to 39 days in the period of January 2019 to June 2019. However, it has increased to 41 days in the most recent period of July 2019 to December 2019.
Volatility Analysis
The volatility of the average time to pay for THE CLOUD NETWORKS LIMITED has been relatively stable, with only a 3-day difference between the highest and lowest values in the three periods analysed.
Summary Analysis
In the period of July 2018 to December 2018, THE CLOUD NETWORKS LIMITED had an average time to pay of 42 days, with 23% of invoices paid within 30 days, 66% paid between 31 and 60 days, and 12% paid later than 60 days. 15% of invoices were not paid within agreed terms and the shortest (or only) standard payment period was 30 days.
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 terms are between 30 and 60 days from the receipt of a valid invoice. On receipt of a valid invoice these invoices are included in a weekly payment run as they fall due
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
"Our predominant paying company is Sky UK Ltd and there is a wide disparity in the number of invoices paid through our various legal entities. Sky figures are impacted by intercompany trading within the Sky companies, particularly Sky In-home Service Limited. Our standard terms and conditions for suppliers are between 30 and 60 days from the receipt of a valid invoice. For the Sky group we paid the vast majority (84%) of our invoices on time and within the agreed payment terms. We paid 25% of invoices within 30 days and 92% within 60 days. On average we paid suppliers 40 days from receipt of invoice to funds into suppliers’ bank accounts. "
Maximum contractual payment period agreed
60
Dispute Resolution Process
"At Sky, we aim to resolve disputes or queries regarding invoices and payment as quickly as possible. Should you have a query regarding the expected payment date of an invoice, you can contact our Accounts Payable helpdesk who will be able to advise further at the following address aphelpdesk@sky.uk. For contractual disputes, not necessarily related to payment date enquiries, you should follow the procedure contractually agreed and, if none, then please contact the individual(s) who ordered the goods or services you have provided. When an invoice dispute is received, it should if possible be resolved at point of contact with the Accounts payable team. If this is not possible, the query will be escalated to the business contact and a relevant senior finance contact. When resolved, the invoice will be available for payment on the next standard payment run. "
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?
❌
