DIVERSE ACADEMIES TRUST
Company number: 07664012
Reporting period:
1 September 2025 to 28 February 2026
Report filed on:
25 March 2026
Approved by:
John Rolph
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: 9 days
Total value paid:
- within 30 days: £7,987,281 (93%)
- in 31 to 60 days: £375,377 (4%)
- in 61 days or more: £219,323 (3%)
Invoices paid:
- within 30 days: 98%
- in 31 to 60 days: 1%
- 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: £1,729,905
- payments due in the reporting period which have not been paid within the agreed period: 10%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
30 days
Standard payment terms
30 days
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
Retention clauses
How does this business use retention clauses?
Retention clauses are used in specific circumstances:
At Diverse Academies Trust, retention clauses are not applied as a blanket standard across all works. Instead, their use is determined on a case-by-case basis, depending on the nature, scale, and risk profile of the project.
For larger capital projects and planned works (such as significant refurbishments or construction projects), retention clauses may be included within contracts to ensure satisfactory completion of works and to provide assurance during the defects liability period.
For smaller works, maintenance, or works procured through established frameworks, retention clauses are not always applied, particularly where alternative safeguards are in place through framework terms, contractor performance monitoring, or staged payment arrangements.
All procurement and contracting decisions are made in line with relevant guidance and best practice, ensuring appropriate risk management while maintaining fair and proportionate terms for contractors.
Does this business only use retention clauses in construction contracts above a specific contract sum?
No
Does this business use a standard percentage rate in retention clauses?
No
Does this business apply retention clause practices that are no more onerous than those applied to it on the same project?
No
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
Release of retention is subject to internal approval procedures and processed through the Trust’s standard payment systems, ensuring appropriate financial oversight and authorisation.
Is the money released in stages?
No
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
0%
Amount retained stated as a percentage of the total construction payments made by this business
0%
Dispute resolution process
In the event of a payment dispute, the department budget holder will discuss the nature of the dispute with the finance team. The supplier will then be notified of this dispute and the actions required to bring the dispute to resolution. If a credit note needs to be raised or further goods supplied, the invoice will remain on hold until these processes have been completed. All disputes are aimed to be resolved within 30 days of the dispute being raised.
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