Score of 90.8/100 qualifies for PaymentCheck Certification
The trend for the average time taken to pay invoices for INCORPORATED BISHOP'S STORTFORD COLLEGE ASSOCIATION(THE) has been decreasing over the past three periods. From 2017 to 2022, the average time to pay has decreased from 31 days to 13 days. This indicates that the company has been paying their invoices more quickly over time.
The volatility for the average time to pay invoices for INCORPORATED BISHOP'S STORTFORD COLLEGE ASSOCIATION(THE) has been relatively low over the past three periods. The average time to pay has only varied by 2 days, from 12 days to 14 days.
From 2017 to 2022, INCORPORATED BISHOP'S STORTFORD COLLEGE ASSOCIATION(THE) has shown a consistent improvement in paying their invoices in a timely manner. The average time to pay has decreased from 31 days to 13 days, with the company consistently paying the majority of their invoices within 30 days. The highest percentage of invoices paid later than 60 days was in the second period (2018-2019), with 5%, but this has since decreased to 4% in the most recent period (2021-2022). The company has also consistently maintained a standard payment period of 30 days.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Aug 2021 - 31 Jan 2022 | 20 Jul 2022 | 13 | 83% | 9% | 8% | 8% |
| 01 Feb 2021 - 31 Jul 2021 | 09 Aug 2021 | 14 | 88% | 6% | 6% | 6% |
| 01 Aug 2020 - 31 Jan 2021 | 19 Feb 2021 | 13 | 86% | 11% | 3% | 3% |
| 01 Feb 2020 - 31 Jul 2020 | 13 Oct 2020 | 12 | 90% | 5% | 5% | 5% |
| 01 Aug 2019 - 31 Jan 2020 | 18 Mar 2020 | 29 | 88% | 8% | 4% | 5% |
| 01 Feb 2019 - 31 Jul 2019 | 03 Sept 2019 | 28 | 89% | 6% | 5% | 5% |
| 01 Aug 2018 - 31 Jan 2019 | 09 Jul 2019 | 30 | 85% | 15% | 0% | 5% |
| 01 Aug 2017 - 31 Jan 2018 | 15 Mar 2018 | 31 | 73% | 17% | 10% | 10% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
We pay our suppliers in accordance with their terms of payment. In the absence of detailed payment terms, we will pay them in 30 days.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
N/A
Maximum contractual payment period agreed
60
We will work with our suppliers and try to resolve any disputes as quickly as possible. We will arrange payment for the amount agreed first and only withhold the amount in dispute until resolved.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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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.
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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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
This is the incorporated association operating Bishop's Stortford College, an independent, co-educational day and boarding school in Hertfordshire for pupils aged 3 to 18. The school comprises Pre-Prep, Prep School, Senior School and Sixth Form on a single campus, offering academic, sporting and performing arts education alongside extensive co-curricular activities. It also provides boarding facilities, international student places, and venue hire for sports facilities and holiday camps. The registered entity, incorporated in 1904, holds the school's operations under charitable/association status rather than as a commercial trading company, consistent with its Companies House classification under primary and general secondary education.
Generated from the company's website and Companies House records. Sources: bishopsstortfordcollege.org · bishopsstortfordcollege.org · bishopsstortfordcollege.org