WHITE ROSE ACADEMIES TRUST
Company number: 07958615
Reporting period:
1 September 2017 to 28 February 2018
Report filed on:
12 April 2018
Approved by:
J Pither
Payment statistics
Average time taken to pay invoices: 42 days
Invoices paid:
- within 30 days: 53%
- in 31 to 60 days: 37%
- 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: £0
- payments due in the reporting period which have not been paid within the agreed period: 46%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
The White Rose Academies Trust standard business payment terms are 30 days. Payment runs are processed weekly, during term times, to ensure we achieve as close to the standard payment terms as possible. Direct debit payments have been agreed with a number of suppliers ensuring payments are received as per their contracts. There are no payment terms set above 30 days however a number of smaller suppliers have payment terms of 14 days. The payment periods are calculated from the date of invoice rather than the date of receipt as the period from date of receipt is not available for this report.
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
Dispute resolution process
Payment disputes are dealt with as a matter of urgency with suppliers being contacted promptly to inform them of any damaged, incorrect or missing goods. Corrective action is agreed and invoices are processed for payment upon receipt of the outstanding replacement goods or credit note. Supplier statements are checked each month and copy invoices requested where necessary and processed as a priority.
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