RIVER LEARNING TRUST
Company number: 07966500
Reporting period:
1 October 2025 to 31 March 2026
Report filed on:
2 April 2026
Approved by:
Jeremy Long
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: 11 days
Total value paid:
- within 30 days: £20,679,178 (98%)
- in 31 to 60 days: £153,067 (< 1%)
- in 61 days or more: £180,419 (< 1%)
Invoices paid:
- within 30 days: 99%
- in 31 to 60 days: 0%
- 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: £3,891,380
- payments due in the reporting period which have not been paid within the agreed period: 25%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
Answer not provided
Standard payment terms
We have 30 days standard payment terms.
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:
Retention is effectively used as a means of financial security to ensure/encourage the Contractor to return during the Rectification Period to correct any defects due to materials, goods or workmanship not in accordance with this Contract (Contract Particulars cl. 4.4 and Conditions cls. 2.10, 6.73 & 29 refer particularly). This process is managed by the Contract Administrator e.g., Six Property Consulting Ltd. The retention is deducted at progress/monthly valuations of the Works and the associated certified payments - this is done at the stated % rates in Contract Particulars cl. 4.4
As a general principle, retention is held on Contracts with value in excess £100,000. This is however subject to project-by-project risk assessment, factoring in scope and nature of the Works e.g., unknown elements, complex logistics, live environment etc.
The standard Contract only applies retention on the Works i.e., against the Contractor. The Works Contract sets out other recourse mechanisms for the Contractor in event of default by the Client/Employer.
Money is released on basis of satisfactory sign off and an issue of a certificate for payment under JCT terms where appropriate.
Does this business only use retention clauses in construction contracts above a specific contract sum?
Yes: £100,000
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?
Yes:
Retention is effectively used as a means of financial security to ensure/encourage the Contractor to return during the Rectification Period to correct any defects due to materials, goods or workmanship not in accordance with this Contract (Contract Particulars cl. 4.4 and Conditions cls. 2.10, 6.73 & 29 refer particularly). This process is managed by the Contract Administrator e.g., Six Property Consulting Ltd. The retention is deducted at progress/monthly valuations of the Works and the associated certified payments - this is done at the stated % rates in Contract Particulars cl. 4.4
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
Money is released on basis of satisfactory sign off and an issue of a certificate for payment and under JCT terms where appropriate.
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
2%
Dispute resolution process
In all instances we seek to communicate with suppliers and resolve any issues to mutual satisfaction in a professional manner. Initially, complaints are dealt with either by individual schools or by the Central Finance Team. Where they cannot be resolved locally, they are escalated either to the CFO, COO or Operations Director. We also follow dispute terms in contracts where applicable.
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