SHERBORNE SCHOOL
Company number: 04002575
Reporting period:
1 July 2019 to 31 December 2019
Report filed on:
30 January 2020
Approved by:
Guy Hudson
Payment statistics
Average time taken to pay invoices: 27 days
Invoices paid:
- within 30 days: 64%
- in 31 to 60 days: 34%
- in 61 days or more: 2%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 9%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Invoices are paid according to supplier payment terms, so there is no standard contractual length of time.
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
60 days
Maximum contractual payment period (per supplier terms) is at the end of the month following the month of invoice, which could be up to 60 days. There have been no changes during the period.
Any other information about payment terms
No further comment provided
Dispute resolution process
We have very few disputes relating to payment with suppliers, and those which do arise are quickly resolved. Telephone or email correspondence would take place in the first instance, between our Purchase Ledger Administrator and the supplier, which could involve dealing with individuals at an increasing level of seniority in the supplier organisation; if no resolution, the case would be passed to the Group Accountant, and ultimately the Bursar.
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