MERCIA LEARNING TRUST
Company number: 08119703
Reporting period:
1 September 2024 to 28 February 2025
Report filed on:
13 March 2025
Approved by:
Charlotte Chance
Payment statistics
Average time taken to pay invoices: 23 days
Invoices paid:
- within 30 days: 85%
- in 31 to 60 days: 12%
- in 61 days or more: 3%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 15%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
30 days
Standard payment terms
Payment within 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
No further comment provided
Dispute resolution process
When a supplier contacts us regarding a payment, we promptly check our finance system to verify the status of the invoice and determine if it has been processed, is pending, or requires further action. If the invoice is approved and scheduled for payment, we provide the supplier with an estimated payment date, ensuring transparency and managing expectations. If the invoice is under dispute, the supplier would have already been contacted regarding the issue. However, if they follow up, we clearly explain the situation, outline any outstanding concerns, and confirm that payment will be withheld until the dispute is fully resolved. Throughout this process, we maintain open communication with the supplier to work toward a fair and timely resolution.
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