LEODIS ACADEMIES TRUST
Company number: 07720181
Reporting period:
1 September 2021 to 28 February 2022
Report filed on:
14 March 2022
Approved by:
David Lester
Payment statistics
Average time taken to pay invoices: 18 days
Invoices paid:
- within 30 days: 88%
- in 31 to 60 days: 8%
- in 61 days or more: 4%
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: 12%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Since the start of Covid, we have taken the decision to pay all invoices as soon as they have been appropriately authorised through our finance system. We are keen to support local businesses and the economy. We run a BACS on a weekly basis although less frequently during holiday periods.
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
N/A
Any other information about payment terms
N/A
Dispute resolution process
We would contact the supplier as soon as possible to try to obtain a satisfactory conclusion and to settle any outstanding debt. The main reasons for any late payments are: • Original invoice not being received; • Invoice disputed; • Invoice date in advance of service and hence payment deliberately delayed (with appropriate communication to supplier); • Overall credit balances e.g. exam bodies; and • Occasionally workload/holiday closures mean invoices are not processed as quickly at Academies.
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