MALTBY LEARNING TRUST
Company number: 07033915
Reporting period:
1 March 2024 to 31 August 2024
Report filed on:
29 October 2024
Approved by:
Natalie Liversidge
Payment statistics
Average time taken to pay invoices: 13 days
Invoices paid:
- within 30 days: 98%
- in 31 to 60 days: 1%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 13%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
30 days
Standard payment terms
Most contracts have standard payment terms of 30 days, however some small local businesses have an agreement of 7 days to avoid cashflow issues. We also have suppliers with 14 day payment terms which include the local authorities and supply agencies.
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
The Finance Assistant will take the initial complaint/concern and acknowledge within 24 hours. They will investigate the compliant and reply no later that 2 working days. If the complaint is still not resolved, this is escalated to the Finance Manager again replying within 2 working days and finally referred to the Finance Business Partner / CFO to resolve.
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