ISG FIT OUT LIMITED
Company Details
Registration Number
06954059
Registered Address
Aldgate House 33 Aldgate High Street London EC3N 1AG
Company Status
Active
Employee Count
500
Turnover
£567,840,000
EBITDA
£23,789,000
Additional Information
Website
isgplc.comCompany Type
Private limited Company
Incorporated on
7 July 2009
Nature of Business (SIC)
41201 - Construction of commercial buildings
Industries
Property development and construction
Region
LondonCompany Location
Financial Overview
£41,342,000
£37,084,000
Last Reporting Period
Filed
29 Jan 2024
Period
01 Jul 2023 - 31 Dec 2023
Payment Timing
Average Time to Pay
24 days
Payment Periods
Shortest
7 days
Longest
60 days
Max Contractual
60 days
Payment Timeline
Not Paid Within Terms
53%
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 | 29 Jan 2024 | 24 | 70% | 26% | 4% | 53% |
| 01 Jan 2023 - 30 Jun 2023 | 21 Jul 2023 | 35 | 52% | 41% | 7% | 64% |
| 01 Jul 2022 - 31 Dec 2022 | 28 Jan 2023 | 35 | 46% | 47% | 7% | 68% |
| 01 Jan 2022 - 30 Jun 2022 | 29 Jul 2022 | 35 | 56% | 37% | 7% | 45% |
| 01 Jul 2021 - 31 Dec 2021 | 30 Jan 2022 | 28 | 80% | 17% | 3% | 14% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 29 | 73% | 25% | 2% | 12% |
| 01 Jul 2020 - 31 Dec 2020 | 27 Jan 2021 | 32 | 75% | 22% | 3% | 13% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 32 | 67% | 27% | 6% | 20% |
| 01 Jul 2019 - 31 Dec 2019 | 27 Jan 2020 | 30 | 76% | 20% | 4% | 23% |
| 01 Jan 2019 - 30 Jun 2019 | 19 Jul 2019 | 41 | 65% | 21% | 14% | 25% |
| 01 Jul 2018 - 31 Dec 2018 | 29 Jan 2019 | 39 | 59% | 28% | 13% | 37% |
| 01 Jan 2018 - 30 Jun 2018 | 17 Jul 2018 | 43 | 42% | 44% | 15% | 33% |
Company Summary
ISG FIT OUT LIMITED is a leading global provider of fit out and refurbishment services for commercial, retail, and hospitality spaces
The company was founded in 1989 and is headquartered in London, UK
The company's sustainability program is centered around their commitment to reducing their carbon footprint and promoting sustainable practices
They have implemented various initiatives, such as using sustainable materials, reducing waste, and promoting energy efficiency in their projects
ISG FIT OUT LIMITED offers a wide range of products and services, including project management, design, construction, and maintenance
They have a strong focus on innovation and use cutting-edge technology to deliver high-quality and sustainable solutions to their clients
The key people at ISG FIT OUT LIMITED include Paul Cossell, the CEO, and Steve Bowcott, the Chairman
Both have extensive experience in the construction industry and are committed to driving the company's growth and sustainability
The company's website address is www.isgplc.com, where customers can find more information about their services, projects, and sustainability initiatives
The registered office address is 85 Gracechurch Street, London, EC3V 0AA, United Kingdom
In summary, ISG FIT OUT LIMITED is a reputable company that offers sustainable fit out and refurbishment services for commercial, retail, and hospitality spaces
With a strong commitment to sustainability and a team of experienced professionals, they continue to make a positive impact in the construction industry
Company Review
Trend Analysis
The average time taken for ISG FIT OUT LIMITED to pay invoices has fluctuated over the past 6 years, with a decrease in 2021 compared to previous years.
Volatility Analysis
The volatility in the percentage of invoices paid within 30 days has been relatively stable, with a slight increase in 2020 and 2022.
Summary Analysis
In the past three periods, ISG FIT OUT LIMITED has seen an improvement in their payment practices, with a decrease in the average time taken to pay invoices and an increase in the percentage of invoices paid within 30 days. However, there has been a slight increase in the percentage of invoices paid later than 60 days in 2022 compared to 2021.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
The company does not have standard payment terms. Payment terms are agreed with suppliers as part of contract negotiations. The most frequently used payment terms in the reporting period are 30 days from date of invoice.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
Prompt Payment Code statistics: Average time to pay in days is 22 - % of Payments 30 days or fewer 74% - % of Payments 31 to 60 Days 23% - % of Payments above 60 Days 3% - % of Payments not paid in Agreed Period 45% ISG remains committed to continual improvement with regards to systems and ensuring that suppliers will be paid in line with target dates. The new source to pay system has been implemented for the accounts payable function and will continue to be enhanced during 2024 to further improve ISG’s ability to increase automation and efficiency to the benefit of our supply chain.
Maximum contractual payment period agreed
60
Dispute Resolution Process
The company actively seeks to resolve disputes in a timely manner. This process will involve the Accounts Payable team and where necessary the Supply Chain team, Commercial teams and Senior Management. A member of the team will contact the supplier to discuss the dispute. Supplier relationships, managed more & more in a structured way, ensure we very rarely have the need for formal dispute resolution processes. If it is not possible to reach an agreement suitable to both parties then other methods of dispute resolution may include but are not limited to adjudication, litigation etc. as determined by the companies’ legal department. This is very much seen as a last resort.
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?
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