GOV.UK
MALTBY LEARNING TRUST
Company number: 07033915
Reporting period:
1 March 2019
to 31 August 2019
This report was filed on 30 September 2019
and approved by Natalie Liversidge
Payment statistics
Average time taken to pay invoices: 12 days
Invoices paid:
- within 30 days: 96%
- in 31 to 60 days: 4%
- in 61 days or more: 0%
Invoices due but not paid within agreed terms: 24 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
30 days
Standard payment terms
Most contracts have standard payment terms of 30 days, however some small local businesses
have an agreement of 7 days to avoid cashflow issues. We also have suppliers with 14 day
payment terms which include the local authorities and Supply Agencies.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Although the report shows that 24% of invoices were not paid within agreed terms, this is mainly
due to the timescales in receiving invoices. Our business is a Multi Academy Trust and has reduced
staff in the school holidays. This can lead to delays in receiving and paying invoices. However, the
report shows that 96% of invoices were paid within 30 days of receipt with an average of 11 days
to make a payment.
Any other information about payment terms
N/A
Dispute resolution process
The individual academy finance officer will take the initial complaint / concern and acknowledge
within 24 hours. The finance officer will investigate the complaint and reply no later than 2 working
days. If the complaint is still not resolved, this is escalated to the senior trust finance officer again
replying within 2 working days and finally referred to the trust finance manager or CFO to resolve.
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