REACH2 ACADEMY TRUST
Company number: 08452281
Reporting period:
1 September 2025 to 28 February 2026
Report filed on:
31 March 2026
Approved by:
Kelly Johnson
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: 61 days
Total value paid:
- within 30 days: £4,331,371 (23%)
- in 31 to 60 days: £8,289,254 (44%)
- in 61 days or more: £6,172,674 (33%)
Invoices paid:
- within 30 days: 23%
- in 31 to 60 days: 45%
- in 61 days or more: 32%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £14,461,929
- payments due in the reporting period which have not been paid within the agreed period: 77%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
REAch2 Academy Trusts standard payment terms are 30 days from date of invoice or receipt of invoice (whichever is the latter) for all qualifying contracts during the reporting period.
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:
Where contracts have been awarded on JCT terms and conditions
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?
Yes: 5%
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
Retained amount are released based on stages within the contsruction project
Is the money released in stages?
Yes:
Half of the retained amount is released on practical completion of the project. The remainder is release at the end of the Defect Rectification Period
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
2%
Dispute resolution process
Any disputes relating to supplies of goods and services, should be first directed to the School Business Manager at the Academy whom ordered the goods or services. If no resolution can be found with the School Business manager, and no explanation received why the payment has been withheld, Suppliers can raise their concerns with the Head Teacher of that Academy.
Where no resolution has been found by dealing with the academy direct, the supplier may refer the matter to the central trust, by e-mailing finance@reach2.org. Suppliers must include the following information; Academy Supplied, Statement of Account, copy of outstanding invoice(s), purchase order number given by the academy when ordering the goods or service, and who the supplier has been dealing with so far in trying to resolve the dispute. The Central trust will then liaise with the school in question to resolve the matter. It is worth noting that the Academy itself has the final authority to issue payment and the trust can only act as arbitrator in the matter.
Suppliers can find up to date Academy address’s and contact details on our website (http://www.reach2.org)
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