MIDSOMER NORTON SCHOOLS PARTNERSHIP
Company number: 07365778
Reporting period:
1 March 2026 to 31 August 2026
Report filed on:
15 September 2026
Approved by:
James Kempton
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: 19 days
Total value paid:
- within 30 days: £16,053,342 (82%)
- in 31 to 60 days: £2,443,740 (13%)
- in 61 days or more: £972,531 (5%)
Invoices paid:
- within 30 days: 83%
- in 31 to 60 days: 12%
- in 61 days or more: 5%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £3,416,271
- payments due in the reporting period which have not been paid within the agreed period: 17%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
30 days
Standard payment terms
We have our own standard terms, but will often have to agree to the supplier terms when they are set up. We run a weekly BACS supplier payment run and once the invoice has been matched and approved, the payment will be
made within 7 days of the receipt of a valid invoice.
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:
We require a retainer on larger contracts (over £250k)
Does this business only use retention clauses in construction contracts above a specific contract sum?
Yes: £250,000
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?
No
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
Signed certification from the project manager and COO
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
1%
Amount retained stated as a percentage of the total construction payments made by this business
1%
Dispute resolution process
Disputes are initially raised with either the person who raised the order or the Purchase Ledger Team Lead, involving the Finance Director as required.
Timescales are dependent on the dispute in progress but contact is made with the supplier who is kept regularly informed and updated until resolved.
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