EAST MIDLANDS EDUCATION TRUST
Company number: 07530373
Reporting period:
2 February 2026 to 31 August 2026
Report filed on:
30 September 2026
Approved by:
Paul Smith (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: 27 days
Total value paid:
- within 30 days: £6,158,752 (60%)
- in 31 to 60 days: £2,437,232 (24%)
- in 61 days or more: £1,721,820 (17%)
Invoices paid:
- within 30 days: 75%
- in 31 to 60 days: 15%
- in 61 days or more: 10%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £4,159,052
- payments due in the reporting period which have not been paid within the agreed period: 25%
- 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
30 Days
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:
All contracts for projects value over £20,000 will include the retention clause.
Does this business only use retention clauses in construction contracts above a specific contract sum?
Yes: £20,000
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
Retention released in full once completed work is signed off by quantity surveyors. The release mechanisms are aligned with standard forms of contract. The release mechanism is not conditional on the performance of obligations under another contract. The supplier raises an invoice for retention amount once completion signed off.
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
0%
Dispute resolution process
The trust operates a "No PO, No Pay" policy and orders are processed on an electronic ordering system. Approved purchase orders are automatically sent to suppliers. PO references not included on invoices can delay payment.
Disputes should be discussed with the person who raised the purchase order. Any further escalations will go to our accounts payable team, and then the CFO.
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