Published reports

INSPIRE LEARNING TRUST

Company number: 09482529

This information is as reported by the business, and responses are in their own words.

Reporting period:

1 September 2025 to 28 February 2026

Report filed on:

11 March 2026

Approved by:

David Naisbitt

Contracts and payments

Do any of this business's construction contracts with its suppliers include retention clauses? Yes

Payment statistics

Average time taken to pay invoices: 21 days

Total value paid:

within 30 days: £3,434,024 (90%)
in 31 to 60 days: £338,778 (9%)
in 61 days or more: £49,980 (1%)

Invoices paid:

within 30 days: 89%
in 31 to 60 days: 10%
in 61 days or more: 1%

Late and disputed:

total value of payments due in the reporting period which have not been paid within the agreed period: £761,065
payments due in the reporting period which have not been paid within the agreed period: 19%
not made in the reporting period due to a dispute: 19%

Payment terms

Shortest standard payment periods

5 days

Longest standard payment period

31 days

Standard payment terms

Most contracts have standard payment terms of 30 days, however some small businesses have an agreement to receive payment in shorter periods. We also have suppliers with 14 days payment terms these include the LEA and supply agencies (for education supply staff). We have also some smaller businesses that require payment in a shorter period of time which is short as 5 days which we try and accommodate on our weekly payment cycles that we complete each Wednesday for payment every Friday.

Were there any changes to the standard payment terms in the reporting period?

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

60 days

Within this reporting period the suppliers that we paid and settled had terms up to 31 days, our longest agreed terms with suppliers on our supplier list is up to 60 days. This is noted on the new supplier set up form each supplier completes with Inspire Learning Trust when we start to use them. This is generated from a staff member wishing to purchase goods or services from them which they raise on a Purchase Order and Finance contact them to set them up on our system for all staff to use.

Any other information about payment terms

We continue to make every effort to chase suppliers for invoices and ensure payments are made as soon as reasonably possible. In July 2024, we implemented a new invoice automation system to streamline invoice matching and statement processing. This system also enabled us to proactively follow up with suppliers regarding missing invoices. As mentioned in our previous 3 reports, we have now been using this system for eighteen months, and it has significantly improved our payment processing times. We will continue to refine and enhance the system to ensure suppliers receive payments on time. This relies on the supplier following the purchase order instructions and terms when goods or services are requested to ensure timely payment.

Retention clauses

How does this business use retention clauses?

Retention clauses are used in specific circumstances:

These are only included in large Condition Improvement Fund (CIF) projects to ensure any snagging is completed once the project is concluded due to size and cost of each project.

Does this business only use retention clauses in construction contracts above a specific contract sum?

Does this business use a standard percentage rate in retention clauses?

Yes: 3%

Does this business apply retention clause practices that are no more onerous than those applied to it on the same project?

Yes:

This is set by the contract that the contracted advisers support us with based on their technical advice given when procuring the contract.

Releasing money under a retention clause

Process for releasing money this business has deducted or retained under a retention clause

It is released a year after the completion date once all snagging and feedback has been concluded in the follow up meeting with the contractor.

Is the money released in stages?

Amount retained from suppliers in the reporting period

Amount retained stated as a percentage of the money retained from this business by its clients

100%

Amount retained stated as a percentage of the total construction payments made by this business

18%

Dispute resolution process

The Finance Department handles all supplier disputes and maintains communication to ensure a resolution is reached as soon as practically possible. Suppliers raising a dispute should provide relevant supporting documents, such as invoices, credit notes, and statements, to facilitate a prompt review. If a dispute cannot be resolved at the Finance Department level within 5 working days, it will be escalated to the Finance Lead or CFO for further review. If no resolution is reached within 10 working days, the matter will be referred to the CEO of Inspire Learning Trust for a final decision. To ensure the smooth processing of invoices and payments, suppliers must send invoices, credit notes, and statements to ilt@lightyear.cloud. For general finance enquiries or to follow up on an outstanding invoice or dispute, suppliers should contact accounts@inspiretrust.uk. We strive to minimise disputes by ensuring clear processes and procedures are in place for our suppliers and this is detailed in our terms and conditions on each purchase order which we email to our suppliers when requesting goods or services.

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.

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?

Cookies on Payment practices reporting