GOV.UK
THE EVOLVE TRUST
Company number: 07827747
Reporting period:
1 September 2017
to 28 February 2018
This report was filed on 26 March 2018
and approved by C M Hebron
Payment statistics
Average time taken to pay invoices: 23 days
Invoices paid:
- within 30 days: 75%
- in 31 to 60 days: 17%
- in 61 days or more: 8%
Invoices due but not paid within agreed terms: 33 %
Payment terms
Shortest standard payment period
14 days
Longest standard payment period
30 days
Standard payment terms
We do not currently have standard payment terms as an organization, the most commonly used payment terms are 30 days payment due from invoice date 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 terms due from invoice date. 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 from invoice date dependent 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 from invoice date 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
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
In the case of a dispute arising regarding payment of invoices, the supplier should initially contact the finance department at the respective academy:
- Head office: 01623 348 100
- The Brunts Academy: 01623 623 149 accounts@brunts.evolvetrust.org
- The Beech Academy: 01623 626 008 office@beech.evolvetrust.org
- The Bramble Academy: 01623 635 928 office@bramble.evolvetrust.org
Disputes raised with the above will be dealt with 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, this will be escalated to the Trust Finance Director.
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
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