REACH SOUTH ACADEMY TRUST
Company number: 10151730
Reporting period:
1 September 2025 to 28 February 2026
Report filed on:
8 April 2026
Approved by:
Kevin Wilson
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: 15 days
Total value paid:
- within 30 days: £10,142,621 (96%)
- in 31 to 60 days: £261,468 (2%)
- in 61 days or more: £205,572 (2%)
Invoices paid:
- within 30 days: 94%
- in 31 to 60 days: 5%
- 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: £676,712
- payments due in the reporting period which have not been paid within the agreed period: 9%
- 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
Standard terms of 30 days from the latter of; date of invoice or receipt of invoice, for all qualifying contracts.
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
30 days
Any other information about payment terms
N/A
Retention clauses
How does this business use retention clauses?
Retention clauses are used in specific circumstances:
We use retention clauses on some construction projects. There are no set criteria for applying retention clauses but each project is assessed based on a combination of factors including project value, complexity and risk. We do not have a minimum contract value for imposing a retention clause.
The retention value depends on the form of contract being used. Eg JCT Minor Works, JCT Intermediate Form, JCT Design and Build etc. The value is either 5% or 3% which reduces by 50% at Practical Completion. The remainder is paid at the end of the rectification period, subject to satisfactory making good of defects.
We do not have any retention clauses imposed on us as we do not provide any services that would need to be subjected to a retention clause. It is therefore not applicable to calculate retention ratios of retentions withheld from us vs. what we withhold.
The current total value of retentions withheld in this period is £23,705.12. This is from 2 projects and both projects are set at a 3% retention rate.
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?
Yes:
We do not have any retention clauses imposed on us as we do not provide any services that would need to be subjected to a retention clause. It is therefore not applicable to calculate retention ratios of retentions withheld from us vs. what we withhold.
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
The current total value of retentions withheld in this period is £23,705.12. This is from 2 projects and both projects are set at a 3% retention rate.
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
3%
Amount retained stated as a percentage of the total construction payments made by this business
3%
Dispute resolution process
Suppliers wishing to query a payment should either send an email to invoices@reachsouth.org or phone 01752 544984. The Trust operates a Shared Service Centre (SSC) that processes invoices and payments on behalf of all schools in the Trust. The SSC team will address supplier queries within 48 hours. If the supplier is unsatisfied with the response, the supplier should communicate this back and the SSC team will escalate the dispute to the Trust’s Head of Finance, who in turn can escalate it to the Finance Director if required.
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