THE GORSE ACADEMIES TRUST
Company number: 07465701
Reporting period:
1 March 2020
to 31 August 2020
This report was filed on 4 November 2020
and approved by Sir John Townsley
Payment statistics
Average time taken to pay invoices: 11 days
Invoices paid:
- within 30 days: 99%
- in 31 to 60 days: 1%
- in 61 days or more: 0%
Invoices due but not paid within agreed terms: 2 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
25 days
Standard payment terms
Standard payment terms are 25 days but 7 days for local small business suppliers.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
None.
Any other information about payment terms
None.
Dispute resolution process
The Trust continues to have a good relationship with all its suppliers. Any queries with invoices are dealt with by individual academies with disputes resolved quickly.
Payment will not be made until an issue has been resolved. We currently have no unresolved issues.
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