MCGILL AND PARTNERS SERVICES LTD
Company Information
- Company Number
- 11877390
- Registered Address
- Suite 806 Lloyd's 1 Lime Street, London, England, EC3M 7HA
- Status
- Active
- Employee Count
- 393
- Turnover
- £114,208,000
- EBITDA
- £5,351,000
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 12 March 2019
- Nature of Business
- 82110 - Combined office administrative service activities82990 - Other business support service activities not elsewhere classified
- Industries
- Human Resources, Recruitment And Admin
- Region
- London
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
MCGILL AND PARTNERS SERVICES LTD has shown a consistent decrease in the average time taken to pay invoices over the past three periods. In the first period, the average time to pay was 37 days, which decreased to 28 days in the second period and then increased slightly to 31 days in the third period. This indicates an overall improvement in payment efficiency over time for the company.
Volatility Analysis
The volatility of the average time to pay for MCGILL AND PARTNERS SERVICES LTD has been relatively low, with a range of only 9 days between the shortest and longest payment period. This suggests that the company has maintained a consistent payment pattern over the past three periods.
Summary Analysis
In the most recent period (2024-01-01 to 2024-06-30), MCGILL AND PARTNERS SERVICES LTD had an average time to pay of 31 days, with 59% of invoices paid within 30 days, 28% paid between 31 and 60 days, and 13% paid later than 60 days. This is an improvement from the previous period, where 61% of invoices were paid within 30 days, but there was also an increase in the percentage of invoices paid later than 60 days (from 9% to 13%). The best period for the company was in 2023-07-01 to 2023-12-31, where 61% of invoices were paid within 30 days and only 9% were paid later than 60 days. The worst period was in 2022-01-01 to 2022-06-30, where 54% of invoices were paid within 30 days and 34% were paid later than 60 days.
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 | 12 Feb 2024 | 28 | 61% | 31% | 9% | 40% |
| 01 Jan 2022 - 30 Jun 2022 | 27 Sept 2022 | 37 | 54% | 12% | 34% | 51% |
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
30 days
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
90
Dispute Resolution Process
McGill and Partners has a dedicated Accounts Payable Team which is reachable by phone and email. Suppliers with invoice disputes contact this team and if the team is not able to resolve they escalate the issue to the business owner. The Accounts Payable Team work with the supplier to resolve promptly.
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
McGill and Partners Services Ltd is a leading international insurance and risk management firm based in London, UK. The company was founded in 2019 by highly experienced industry professionals, including former executives from Aon and JLT.
The company offers a wide range of insurance and risk management services to clients across various industries, including aerospace, energy, financial institutions, and technology. They specialize in providing innovative and tailored solutions to their clients' specific needs.
McGill and Partners Services Ltd is committed to sustainability and has a dedicated sustainability program in place. They have implemented various initiatives to reduce their environmental impact, such as reducing paper usage, promoting recycling, and using renewable energy sources in their offices.
The company also offers a range of sustainable insurance products, such as renewable energy insurance, environmental liability insurance, and green building insurance. These products are designed to help clients mitigate risks associated with environmental and sustainability issues.
The key people at McGill and Partners Services Ltd include Steve McGill, the CEO, and co-founder, who has over 35 years of experience in the insurance industry. Other key members of the team include Alex Redgrove, the COO, and co-founder, and a team of highly skilled and experienced professionals.
To contact McGill and Partners Services Ltd, individuals can visit their website at www.mcgillpartners.com or reach out to their registered office at 1 Angel Court, London EC2R 7HJ, United Kingdom. Overall, McGill and Partners Services Ltd is a reputable and sustainable insurance firm that offers excellent products and services to its clients.
