NORTHERN AMBITION ACADEMIES TRUST
Company number: 07556117
Reporting period:
1 September 2020 to 28 February 2021
Report filed on:
16 March 2021
Approved by:
Elizabeth Fairhurst
Payment statistics
Average time taken to pay invoices: 26 days
Invoices paid:
- within 30 days: 78%
- in 31 to 60 days: 19%
- in 61 days or more: 3%
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: 36%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
30 days
Standard payment terms
Northern Ambition Academies Trust in general accepts the payment terms proposed by suppliers. In some cases payment is requested on receipt of invoice, so these suppliers are treated as having terms of zero days. Where suppliers do not propose terms, our default terms are to settle all valid invoices within 30 days. We endeavour to pay invoices from small businesses or sole traders as quickly as possible within these 30 days.
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
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Any disagreements with amounts invoiced by suppliers will be raised by the individual responsible for the expenditure or a member of the finance team. Complaints by suppliers should be directed in the first instance to the individual responsible for the expenditure or the Trust’s Finance Manager. Should the matter remain unresolved this may be escalated to the Director of Finance and Operations.
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