GOV.UK
THE LEYS AND ST FAITH'S SCHOOLS FOUNDATION
Company number: 07748737
Reporting period:
1 August 2018
to 31 January 2019
This report was filed on 17 July 2019
and approved by R Webster
Payment statistics
Average time taken to pay invoices: 24 days
Invoices paid:
- within 30 days: 67%
- in 31 to 60 days: 32%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 15 %
Payment terms
Shortest standard payment period
5 days
Longest standard payment period
60 days
Standard payment terms
Supplier or product invoices we aim to pay 30 days after the date of invoice unless the standard supplier terms are longer
The Foundation has different payment terms which are agreed with contracts at the start of a major building contract.
On vehicle travel invoices we pay once the travel using the vehicle has taken place as greed with the supplier.
Where a direct debit arrangement has been set up with a supplier, it is the supplier's responsibility to make sure payment is
taken at the correct time.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Contract terms for The Foundation catering company is different, a set sum is paid each month by direct debit with the
balance paid at the end of The Foundation financial year.
Any other information about payment terms
N/A
Dispute resolution process
In the first instance the accounts department will contact the supplier to discuss the problem, this will happen as soon as it
Is established there is a complaint or dispute on either side.
The accounts team will liaise with the internal department within the Foundation whom asked for the goods or service to confirm
any issues they may have, a further communication will then take place with the supplier, a simple query will be sorted out within
a short period of time.
A more complicated dispute with a contract may take longer depending on the nature of the dispute and ultimately could be
referred to The Foundations solicitors.
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