ST THOMAS AQUINAS CATHOLIC MULTI ACADEMY TRUST
Company number: 08090890
Reporting period:
1 September 2024 to 28 February 2025
Report filed on:
29 March 2025
Approved by:
Sarah Noon
Payment statistics
Average time taken to pay invoices: 15 days
Invoices paid:
- within 30 days: 96%
- in 31 to 60 days: 3%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 12%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
30 days
Standard payment terms
30 days unless quoted on supplier set up form to be different.
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
For a couple of suppliers, we will get one invoice at the start of the year and agreed to pay it over equal instalments. Technically payment terms are 30 days, but suppliers accept the instalment payment plan.
Any other information about payment terms
No further comment provided
Dispute resolution process
A supplier will contact our finance team with any queries. Copy invoices will be requested, and confirmation that the goods/service was provided will be obtained and a purchase order is raised and approved. Invoice is then paid. Suppliers are kept informed of progress, and if there is a need for quicker payment we expedite our processes and are able to make faster payments via internet banking. In the unlikely case we are not able to agree to pay an invoice, we will discuss with the supplier for resolution. If needed, cases are escalated to the Trust's Finance Director to consider how to resolve the issue with the Supplier. If resolution is still not found, the Trust's CEO and/or Board of Directors will be informed.
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