DIVERSE ACADEMIES TRUST
Company number: 07664012
Reporting period:
1 March 2026 to 31 August 2026
Report filed on:
29 September 2026
Approved by:
John Rolph
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: 9 days
Total value paid:
- within 30 days: £7,380,880 (82%)
- in 31 to 60 days: £1,221,259 (14%)
- in 61 days or more: £347,081 (4%)
Invoices paid:
- within 30 days: 97%
- in 31 to 60 days: 2%
- 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: £2,366,771
- payments due in the reporting period which have not been paid within the agreed period: 11%
- not made in the reporting period due to a dispute: 11%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
30 days
Standard payment terms
30 days from invoice date
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 included in standard payment terms.
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: 3%
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
Release of retention is subject to internal approval procedures and processed through the Trust’s standard payment systems, ensuring appropriate financial oversight and authorisation on the production of certification of satisfactory completion of works – usually after one year.
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
3%
Dispute resolution process
The Trust operates an electronic purchasing system through which purchase orders are raised and issued to suppliers. Invoices that do not quote the correct purchase order number may be delayed while the supplier is contacted and the discrepancy resolved. Payment is also withheld until receipt of the relevant goods or services has been confirmed and recorded within the finance system; delays may therefore arise while the finance team follows up outstanding goods received notes (GRNs). A significant proportion of invoices paid after 30 days relates to PFI charges from a single supplier. These invoices are often complex and may require clarification before payment can be authorised. Although such queries may not constitute a formal dispute, payment is appropriately withheld until the Trust is satisfied that the charges are accurate. The current finance system does not separately record the duration of a dispute or the date on which it is resolved.
Where a payment dispute arises, the relevant budget holder works with the finance team to establish the nature of the issue. The supplier is then notified promptly and advised of the action required to achieve resolution. Where a credit note, replacement goods or further supporting information is required, the invoice remains on hold until the necessary action has been completed and the amount due has been validated. The Trust aims to resolve all payment disputes within 30 days of the date on which they are raised.
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