THE KEMNAL ACADEMIES TRUST
Company number: 07348231
Reporting period:
1 March 2026 to 31 August 2026
Report filed on:
9 October 2026
Approved by:
Rachel Carter, Deputy Director of Finance
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: £19,192,902 (74%)
- in 31 to 60 days: £5,692,814 (22%)
- in 61 days or more: £1,035,117 (4%)
Invoices paid:
- within 30 days: 68%
- in 31 to 60 days: 28%
- in 61 days or more: 4%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £12,669,083
- payments due in the reporting period which have not been paid within the agreed period: 38%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
120 days
Standard payment terms
Our standard payment terms are in line with each individual supplier and therefore we aim to meet their stated terms. If the supplier does not specifically state payment terms we adopt a standard 30 day term
Were there any changes to the standard payment terms in the reporting period?
The Trust centralised its accounts payable function in June 2026.
During this period, some supplier payments experienced delays. Updated internal controls and workflows are being embedded across the team to ensure supplier payment terms are consistently met moving forward.
Were suppliers notified or consulted about these changes before they were made?
Suppliers were contacted by email ahead of the centralisation, notifying them of the change in process
Maximum contractual payment period agreed
120 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:
Retention clauses are dependent on the supplier, the size of the project and the overall value, along with the agreed terms of the contract and any relevant intermediaries.
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?
No
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
If retentions are held, the length of retention is included in the contract, typically a year to ensure satisfactory completion of any final snagging assessments.
Is the money released in stages?
Yes:
Where the retention is in the region of 10%, we would typically release 5% upon completion of the works, and retain 5% until final snagging is satisfactorily completed.
This can vary per contract and stages of retention will also vary - again stipulated in the contract.
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
1%
Dispute resolution process
Any complaint or concern is dealt with on an individual basis and in a timely manner. Any ongoing disputes that affect settlement of payment are appropriately discussed with the supplier concerned. Failure to resolve any disputes will then be escalated to our legal advisors
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