THE EVOLVE TRUST
Company number: 07827747
Reporting period:
1 September 2020 to 28 February 2021
Report filed on:
23 March 2021
Approved by:
Ian Jephson
Payment statistics
Average time taken to pay invoices: 48 days
Invoices paid:
- within 30 days: 44%
- in 31 to 60 days: 30%
- in 61 days or more: 26%
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: 64%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
We do not currently have standard payment period as an organisation, the most commonly used payment period is 30 days which we use for the majority of our supplier base. The exceptions to this are as follows: - Suppliers who provide staff cover i.e. supply agencies are generally on 14 day payment period. This is due to the nature of their business as they are required to pay staff on a monthly basis. - Utilities such as electricity, gas and telecoms vary from 14-21 days payment period dependant on the supplier and agreed terms. - The payment terms with the Local Authority in relation to various contracted out services that we buy in are on 14 days payment period due to the nature of their business and their requirement to pay staff.
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
None
Any other information about payment terms
None
Dispute resolution process
In the case of a dispute arising regarding payment of invoices, the supplier should contact the Finance office accounts@brunts.evolvetrust.org Resolutions raised with the above, will be dealt reviewed and an explanation provided within 5 working days. Where the dispute / concern requires further investigation, this will be explained to the supplier with a suitable timescale agreed. Where a resolution cannot be reached with the supplier, either the above contacts or the supplier should then contact the Trust Chief Finance Officer: Barbara Sims – bsims@evolvetrust.org 01623 348100
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