WELLSPRING ACADEMY TRUST
Company number: 08120960
Reporting period:
1 March 2025 to 31 August 2025
Report filed on:
8 September 2025
Approved by:
Mark Wilson
Payment statistics
Average time taken to pay invoices: 45 days
Invoices paid:
- within 30 days: 66%
- in 31 to 60 days: 20%
- in 61 days or more: 14%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 40%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
Answer not provided
Standard payment terms
Payment terms as standard are 30 days from date of invoice unless otherwise agreed
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Disputes are dealt with by a centralised finance team. An invoice may be queried with the centralised team by an individual academy and then that dispute will be taken up with the supplier.
The centralised finance team are split into different region groups to help speed up this process.
The Trusts complaints policy is available on the website of Wellspring Academy Trust
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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.
No
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.
No
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?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No