THE PINNACLE LEARNING TRUST
Company number: 07687135
Reporting period:
1 March 2024 to 31 August 2024
Report filed on:
9 December 2024
Approved by:
Jayne Clarke
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 77%
- in 31 to 60 days: 17%
- in 61 days or more: 6%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 33%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
30 days
Standard payment terms
Our standard payment terms are 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
Our figure for 'payments due which were not disputed, but which were not paid within the payment terms is distorted for the reporting period for the following reasons:
(i) We received a number of legacy utility bills for two schools which recently converted to academies and joined our organisation.
(ii) Amazon invoice issuance is sometimes irregular, so while we have initiated approval procedures upon receipt of invoice, the invoice dates contribute to a higher percentage.
Dispute resolution process
Any items can be disputed in the first instance, with the Trust Finance Team.
The contact email address is: finance@osfc.ac.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 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