OUTWOOD GRANGE ACADEMIES TRUST
Company number: 06995649
Reporting period:
1 September 2025 to 28 February 2026
Report filed on:
3 April 2026
Approved by:
Ben Waterman (CFO) / Lee Wilson (CEO)
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: 23 days
Total value paid:
- within 30 days: £36,802,702 (86%)
- in 31 to 60 days: £4,118,197 (10%)
- in 61 days or more: £1,966,385 (5%)
Invoices paid:
- within 30 days: 88%
- in 31 to 60 days: 8%
- in 61 days or more: 4%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £6,280,106
- payments due in the reporting period which have not been paid within the agreed period: 13%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
45 days
Standard payment terms
Standard terms are 30 days. Our terms and conditions can be found on the website below:
https://www.outwood.com/procurement
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
45 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:
This depends on the supplier and the contract we have with them.
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?
Yes:
The policy is as per the contract.
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
Money is released on completion of the contract and when our cost consultants have designated the value of the works to be complete.
Is the money released in stages?
Yes:
Yes. Usually 2.5% on completion and then 2.5% after 12 months and the end of the snagging 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
0%
Dispute resolution process
The Trust operates an electronic ordering system where a purchase order is raised and sent to the supplier. If suppliers do not use the PO reference on their invoices this can delay payment. If there are any queries on the invoice then finance contact the supplier to resolve. Payment is not made until the goods / service issue is resolved or a credit note is issued. This can cause payments to appear to be paid late as we will not make payment until all queries have been resolved. The system does not record the period in which the invoice was in dispute. The payments that are paid late are mainly attributable to 3 of our main suppliers where the goods ordered by their nature are low value high volume orders. We have contacted our main suppliers and none of them have any concerns over our payment practices and state that we pay on time.
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