PLYMOUTH CAST
Company number: 08438686
Reporting period:
1 September 2018
to 28 February 2019
This report was filed on 28 June 2019
and approved by Karen Cook
Payment statistics
Average time taken to pay invoices: 44 days
Invoices paid:
- within 30 days: 57%
- in 31 to 60 days: 29%
- in 61 days or more: 14%
Invoices due but not paid within agreed terms: 43 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
30 days
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
31 days
Any other information about payment terms
The Trust implemented a new financial system in September 2017, including a change of address for suppliers to submit invoices which resulted in delays in receipt of invoices. At the start of this reporting period the Trust implemented operational restructuring and rationalisation of the Administration and Finance functions within our schools. The Trust continues to be committed to paying suppliers within agreed payment terms; there has been an improvement indicating a reduced level of delayed payments. Figures since January 2019 indicate further improvements as the new systems have become embedded across the organisation.
Dispute resolution process
Complaints should be logged with the CAST Central Finance Department for investigation and response.
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