ST THOMAS AQUINAS CATHOLIC MULTI ACADEMY TRUST
Company number: 08090890
Reporting period:
1 March 2026 to 31 August 2026
Report filed on:
2 October 2026
Approved by:
Stephen Giacchino
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: 14 days
Total value paid:
- within 30 days: £6,793,588 (98%)
- in 31 to 60 days: £24,178 (< 1%)
- in 61 days or more: £148,109 (2%)
Invoices paid:
- within 30 days: 97%
- in 31 to 60 days: 3%
- in 61 days or more: 0%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £1,036,080
- payments due in the reporting period which have not been paid within the agreed period: 10%
- not made in the reporting period due to a dispute: 9%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
Answer not provided
Standard payment terms
30 days or in line with supplier agreements/contracts
Were there any changes to the standard payment terms in the reporting period?
Where suppliers have been paid late, a review of our finance system has been undertaken to check that the payment terms are correct, and where not they are updated.
Were suppliers notified or consulted about these changes before they were made?
Suppliers contact the finance team to discuss late payments, and as part of that conversation/email they are notified of any changes.
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:
Only for larger projects that are fully tendered and retention included as part of the tender.
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: 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
Agreed per the contract. Usually 95% paid prior to practical completion, 97.5% on or after practical completion. Remainder usually after 1 year.
Is the money released in stages?
Yes:
Usually 95% paid prior to practical completion, 97.5% on or after practical completion. Remainder usually after 1 year.
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
4%
Dispute resolution process
A supplier will contact our finance team with any queries. Copy invoices will be requested, and confirmation that the goods/service was provided will be obtained and a purchase order is raised and approved. Invoice is then paid. Suppliers are kept informed of progress, and if there is a need for quicker payment we expedite our processes and are able to make faster payments via internet banking.
In the unlikely case we are not able to agree to pay an invoice, we will discuss with the supplier for resolution. If needed, cases are escalated to the Trust's Finance Director to consider how to resolve the issue with the Supplier. If resolution is still not found, the Trust's CEO and/or Board of Directors will be informed.
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