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THE GORSE ACADEMIES TRUST

Company number: 07465701

Reporting period:
1 September 2017 to 28 February 2018

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This information is as reported by the business, and responses are in their own words.

This report was filed on 25 April 2018

and approved by Sir John Townsley (CEO)

Payment statistics

Average time taken to pay invoices: 29 days

Invoices paid:

• within 30 days: 72%
• in 31 to 60 days: 22%
• in 61 days or more: 6%

Invoices due but not paid within agreed terms: 31 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

Our standard payment terms are 30 days from the date of invoice receipt, unless otherwise agreed with the supplier. We have an agreement with some local small businesses for payment terms of 7 days.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

30 days

Any other information about payment terms

N/A

Dispute resolution process

The Trust enjoys a good relationship with the majority of its suppliers. Any queries on invoices are dealt with by individual academies with disputes resolved quickly.
Payment of an invoice will not be made until any issues are resolved. This can cause payments to be made late.
We currently have no long standing unresolved issues with any of our suppliers. For the majority of invoices not paid within 30 days - this is due to the invoices being received during school holiday periods when school staff are not present.

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 Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

No

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