REDHILL ACADEMY TRUST
Company number: 07430317
Reporting period:
1 September 2018 to 28 February 2019
Report filed on:
26 March 2019
Approved by:
Sarah Lorking - Financial Director
Payment statistics
Average time taken to pay invoices: 18 days
Invoices paid:
- within 30 days: 90%
- in 31 to 60 days: 9%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 44%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
45 days
Standard payment terms
The Trust ordinarily contracts with suppliers on 30 day terms unless shorter payment terms are enforced in the case of utilities requiring 14 day terms
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
45 days
Longer payment terms are offered in some cases where supply is for large purchases or call-off arrangements
Any other information about payment terms
No further comment provided
Dispute resolution process
All concerns are directed to the central finance team within the Trust at finance@rhat.org.uk with a standard response time of 48 hours.
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