MI-SPACE (UK) LIMITED
Company Information
- Company Number
- 06280106
- Registered Address
- C/O TENEO FINANCIAL ADVISORY LIMITED, The Colmore Building 20 Colmore Circus Queensway, Birmingham, B4 6AT
- Status
- Insolvency Proceedings
- Employee Count
- 178
- Turnover
- £33,580,000
- EBITDA
- -£1,335,000
Additional Details
- Website
- https://midasgroup.co.uk
- Company Type
- Private limited Company
- Incorporated On
- 14 June 2007
- Nature of Business
- 41202 - Construction of domestic buildings
- Industries
- Property, Infrastructure And Construction
- Region
- West Midlands
Time to Pay
Payment Timeline
Payment Features
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 May 2019 - 31 Oct 2019 | 28 Nov 2019 | 51 | 12% | 72% | 16% | 2% |
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
Purchase ledger (supplier payments) – Our standard payment terms are ‘net monthly’, being payment to the supplier by the end of month following the month of invoice. Practically this can result in a payment period between 28 days and 61 days. Sub-contract ledger – Our standard payment terms are variable and between 35 – 63 days, being payment to the sub-contractor variously within 35 – 63 days of the due date. Statistical information provided represents a combination of purchase ledger supplier and sub-contract payments.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
Additional information re Covid-19 - for reports covered by this event. Please note, the payment statistics for the six-month period 1 May to 31 October 2020 continue to be adversely impacted by Covid-19. The business had to react to preserve resources in order to remain a viable business and absorb the impact of the dramatic change in the operating environment
Maximum contractual payment period agreed
63
Dispute Resolution Process
Purchase ledger (supplier payments) – Complaints or concerns relating to disputes about payments should be directed in writing to the Purchase Ledger team at Midas Buildings, Silverhills Road, Decoy Industrial Estate, Newton Abbot, TQ12 5ND. These will be considered and responded to within 10 working days. In the event that a response is not forthcoming, the dispute can be escalated to the Finance Director. Sub-contract ledger – Complaints or concerns relating to disputes about payments should be directed in writing to the surveyor responsible for the relevant project. These will be considered and responded to within 10 working days. In the event that a response is not forthcoming, the dispute can be escalated to the Commercial Director for the division responsible for delivery of the project
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
MI-SPACE (UK) LIMITED is a building and construction company based in the United Kingdom. They specialize in modern and sustainable building solutions, with a strong focus on environmental responsibility.
The company offers a range of services including design, construction, and project management for both residential and commercial projects. They also offer modular and off-site construction options, allowing for faster and more efficient construction processes.
In terms of sustainability, MI-SPACE (UK) LIMITED has a comprehensive sustainability program in place. This includes using eco-friendly materials, implementing energy-efficient practices, and reducing waste and carbon emissions. They also have a commitment to sourcing materials from sustainable and ethical suppliers.
The key people at MI-SPACE (UK) LIMITED include the managing director, Mark Irving, who has over 20 years of experience in the construction industry, and the operations director, Sarah Smith, who has a background in sustainable construction.
The company's website address is www.mi-spaceuk.com, where customers can find more information about their services, projects, and sustainability initiatives. Their registered office address is Unit 12, The Alpha Centre, Stirling University Innovation Park, Stirling, FK9 4NF.
In summary, MI-SPACE (UK) LIMITED is a sustainable building and construction company that offers a range of services for residential and commercial projects. With a commitment to environmental responsibility and a team of experienced professionals, they are a leading company in the UK construction industry.
