ASSET EDUCATION
Company number: 09434926
Reporting period:
1 March 2026 to 31 August 2026
Report filed on:
25 September 2026
Approved by:
Barry Gostling
Contracts and payments
Do any of this business's construction contracts with its suppliers include retention clauses? No
Payment statistics
Average time taken to pay invoices: 19 days
Total value paid:
- within 30 days: £2,922,746 (94%)
- in 31 to 60 days: £143,150 (5%)
- in 61 days or more: £30,274 (< 1%)
Invoices paid:
- within 30 days: 93%
- in 31 to 60 days: 6%
- 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: £621,828
- payments due in the reporting period which have not been paid within the agreed period: 18%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
30 days
Standard payment terms
ASSET Education aims to pay all suppliers in accordance with their payment terms and conditions unless there are queries on the 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
We have continued to see a similar rate to the last reporting period with over 93% of our invoices being paid within 30 days, static to last month and a higehr percentage than the same period last year. Our average time to pay suppliers has also stayed similar at 19.32 days again higher than the same period in 2025. This shows that our processes are continuing to work to ensure invoices get to our teams and paid via the bank as soon as possible for our suppliers. An increased rate of direct debit payment has also helped ensure this.
We have also managed to reduce our precentage of invoices not paid within agreed tems to 18.4% and a value of £621k. Whilst we appreciate this is still not completely reducing these issues, it has almost halved the position we were in a year ago and shows our processes are again improving and ensuring the vast majority of our suppliers are paid promptly. Once again we do see that a large amount of 47% of our late invoices had terms of 7 days or less, which are hard for us to make with a weekly BACS run.
Dispute resolution process
Escalate to central finance team who would take up query with management of supplier
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