ASPIRE ACADEMY TRUST
Company number: 07387540
Reporting period:
1 September 2022 to 28 February 2023
Report filed on:
28 March 2023
Approved by:
Tim Hooper
Payment statistics
Average time taken to pay invoices: 24 days
Invoices paid:
- within 30 days: 82%
- in 31 to 60 days: 8%
- in 61 days or more: 10%
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: 0%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Aspire Academy Trust's standard contractual length of time for payment of invoices, relating to qualifying contracts, is 30 days from the date of invoice. Agreements are in place with some smaller suppliers for payment within 14 days. No agreements over the 30 days maximum contractual payment period have been agreed with any supplier.
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
Disputes relating to payments for any goods or services, under any qualifying contracts, are initially directed to the relevant finance administrator within the academy to which the goods or services were supplied or ordered. Any dispute will be investigated and resolved as quickly as possible by the Finance Administrator or passed over to a member of Aspire Academy Trust's Finance team for further investigation. Any dispute relating to any payments can also be directed to financeenquiries@aspireacademytrust.org or 01726 438613.
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