SHARNBROOK ACADEMY FEDERATION
Company number: 07500018
Reporting period:
1 September 2018 to 28 February 2019
Report filed on:
26 March 2019
Approved by:
Iain Denning
Payment statistics
Average time taken to pay invoices: 45 days
Invoices paid:
- within 30 days: 41%
- in 31 to 60 days: 36%
- in 61 days or more: 23%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 69%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
30 days
Standard payment terms
The Academy Trust will pay suppliers within 30 days of receipt on all valid and undisputed invoices.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
30 days
As a Trust of Schools there have been delays in receipt and payment of invoices due to school breaks. Suppliers continue to send their invoices to incorrect addresses in the schools, delaying processing, too
Any other information about payment terms
N/A
Dispute resolution process
The Academy Trust will notify a supplier if an invoice received is not valid or properly due. Once the dispute is resolved with a corrected invoice or credit note, payment will be made.
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, 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