REDHILL ACADEMY TRUST
Company number: 07430317
Reporting period:
1 March 2018 to 31 August 2018
Report filed on:
25 September 2018
Approved by:
Mr S Hopkins
Payment statistics
Average time taken to pay invoices: 19 days
Invoices paid:
- within 30 days: 87%
- in 31 to 60 days: 11%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 43%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
The Trust prefers suppliers to trade with it on 30 day payment terms. Certain suppliers enforce shorter payments terms, such as Utility providers, who require payment within 14 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
90 days
Up to 90 days credit has been offered by a small number of suppliers in the period for large purchases
Any other information about payment terms
No further comment provided
Dispute resolution process
All concerns should be notified in the first instance to the Trust's Finance Shared Services team, using the email address finance@rhat.org.uk. All emails will be responded to within 5 working days or sooner.
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