Their own payment-practices filing · gov.uk

How long does Midas Construction Limited take to pay its suppliers?

CRN 01240442 · 9 statutory reports on record · period to 31 Oct 2021

58days

their reported average time to pay suppliers, latest period

Slower than mostvs a 31-day median across 6,185 recent filers

Self-reported figure from their statutory filing. How this is compiled.

Dated record. The latest report covers a period ending 31 Oct 2021 and the company hasn’t filed since (it may have dropped below the reporting threshold). Treat the figures as historical.

Terms vs reality

Stated terms: 28–63 days. Reported average: 58.

Stated terms28–63d

+30 days

Reported avg58d

At a glance

The key figures

28–63d

their stated terms

invoices paid outside terms

+8d

slower over the window

±5d

steady pattern

Vs peers · latest reported averages

fasterslower

Slower than 90% of large companies reporting.

The pattern

Getting slower

Average days to pay across their last 6 statutory reports.

terms 28d

H1 2019H2 2019H1 2020H2 2020H1 2021H2 2021

Where their supplier invoices land · latest period

within 30 days 19% 31–60 days 54% 61+ days 27%

The read · computed from their figures

Midas Construction Limited has filed 9 statutory payment periods (earliest H2 2017). Their latest report puts the average at 58 days against stated terms of 28–63 days.

The direction is slower: from 50 to 58 days over the window — about 8 days slower.

In the latest period 4% of invoices were paid outside their agreed terms, and 27% landed 61+ days out.

What they tell their suppliers

Payment code: Prompt Payment Code

In their own words · from the filing

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 ofinvoice. 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 ofthe due date. Statistical information provided represents a combination of purchase ledger supplier and sub-contract payments.

Dispute resolution

Purchase ledger (supplier payments) – Complaints or concerns relating to disputes about payments should be directed in writing to the Purchase Ledger team atMidas Buildings, Silverhills Road, Decoy Industrial Estate, Newton Abbot, TQ12 5ND. These will be considered and responded to within 10 working days. In theevent 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 relevantproject. 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 theCommercial Director for the division responsible for delivery of the project

Other information

Additional information re Covid-19 - for reports covered by this event. Please note, the payment statistics for the six-month period 1 May 2021 to 31 October 2021 continued 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.

Every statutory report on record

Most recent first.

Period	Avg days	Outside terms	61+ days	Filed
H2 2021	58	4%	27%	26 Nov 2021
H1 2021	58	2%	29%	28 May 2021
H2 2020	66	9%	44%	30 Nov 2020
H1 2020	57	10%	29%	29 May 2020
H2 2019	54	3%	25%	28 Nov 2019
H1 2019	50	2%	19%	19 Sept 2019
H2 2018	49	5%	19%	28 Nov 2018
H1 2018	45	14%	15%	31 May 2018
H2 2017	48	20%	18%	24 Nov 2017

Working-capital effect

What a 58-day cycle ties up

Illustrative. On a hypothetical £12k/month account, at a 58-day vs a 28-day payment cycle.

≈ £23,000

of invoicing outstanding at any one time on a 58-day cycle — about £11,800 more than the same account would carry at 28-day terms.

Late Payment Act. The Late Payment of Commercial Debts Act lets a supplier charge statutory interest and fixed compensation on invoices paid past agreed terms. Work out what a late invoice is worth → Whether it applies depends on your contract — check with an adviser.

Quick answers

Are they getting slower or faster?

Their reported average has moved about 8 days slower over the window (50 → 58 days).

What's their typical pay point?

Their latest reports average around day 58, moving within about ±5 days. Treat that as a historical reference point, not a promise for a new invoice.

Can I see what this means for my invoices?

Run the live check — it re-reads their record and their live Companies House file, on the amount you invoice.

Stay ahead

Watch Midas Construction Limited (free)

Their next payment report is due ≈ 29 May 2022. We watch their public record and email you when something changes — a new payment report, late filings, insolvency markers, new charges.

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How UK payment reporting works

What is a Payment Practices Report?

UK companies and LLPs above a size threshold — broadly, two of: turnover over £54m, balance sheet over £27m, or more than 250 employees — must report twice a year, under the Reporting on Payment Practices and Performance Regulations 2017, how quickly they actually pay suppliers: the average time to pay, the share of invoices paid in 30 days or fewer, 31 to 60 days and 61 days or longer, and their standard payment terms. Those thresholds apply to financial years beginning on or after 6 April 2025; for earlier financial years they were £36m and £18m, with the same 250-employee test.

What does "paid outside agreed terms" mean?

The share of invoices paid later than the terms in the supplier contract. If terms are 30 days and an invoice is paid on day 45, it counts as paid outside terms, regardless of the headline average.

How often is this data updated?

Each report covers a six-month period and must be filed within 30 days of that period ending, so a company's record refreshes roughly twice a year. PaidLate re-reads the register as new reports are filed.

Is this official government data?

The underlying payment figures come from the company's own statutory filings on the gov.uk payment-practices service; company-status data comes from Companies House. PaidLate calculates trends, comparisons and summaries from those records. It does not use surveys or credit-agency scores.

How this is compiled. Built from official records only: Companies House and the gov.uk payment-practices service. The payment figures are self-reported — companies over the size threshold must file them by law and the board signs them off. No credit-agency data. The numbers are theirs; the plain-English read is ours. This is information compiled from public records under the Open Government Licence v3.0 — not a credit rating and not advice.

The 31-day comparison figure is the median across 6,185 companies with a current statutory report — every sector pooled, not an average of sector medians (how the figure is built).

Report PL-01240442 · latest period to 31 Oct 2021

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