LEARNING WITHOUT LIMITS ACADEMY TRUST
Company number: 10269535
Reporting period:
1 September 2017 to 28 February 2018
Report filed on:
21 March 2018
Approved by:
Mrs D Newsome
Payment statistics
Average time taken to pay invoices: 21 days
Invoices paid:
- within 30 days: 77%
- in 31 to 60 days: 20%
- in 61 days or more: 3%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 23%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
We operate on 30 day turnaround. Most payments are paid within this time, unless there is an issue with goods/services and or paperwork. Once issue resolved, payment is made immediately.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
30 days
During school closures, especially over Easter, Summer and Christmas breaks, this is where payment period is extended to the max. Over summer due to business/school closure, 30 days could be 30 working days, and not 30 consecutive days.
Any other information about payment terms
N/A
Dispute resolution process
In the first instance, please contact the local school you have supplied goods or services too. First with the finance team, then the Business Manager. If the issue cannot be resolved at school level, then contact the Chief Operating Officer for the Trust. rallsop@babington.leicester.sch.uk
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, 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