LEODIS ACADEMIES TRUST
Company number: 07720181
Reporting period:
1 March 2024 to 31 August 2024
Report filed on:
13 September 2024
Approved by:
Rebecca Ganz
Payment statistics
Average time taken to pay invoices: 25 days
Invoices paid:
- within 30 days: 85%
- in 31 to 60 days: 10%
- in 61 days or more: 5%
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
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Prior to Covid we paid invoices according to our standard 30 day terms. Since the start of the pandemic, we have tried to make payments to suppliers as soon as invoices have been authorised and processed through the finance system.
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
We aim to pay all invoices as soon as possible following appropriate authorisation.
Any other information about payment terms
No further comment provided
Dispute resolution process
The supplier would be contacted as soon as possible by the Central Finance Team to explain our concerns over the invoice. This would be followed up to ensure resolution as soon as possible.
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