The average time taken for GL EDUCATION GROUP LIMITED to pay invoices has decreased from 51 days in Jan 2022 to 40 days in June 2022.
The company has shown a fluctuation in its payment pattern with the highest percentage of invoices paid later than 60 days being 15% in Jan 2022 and the lowest being 0% in June 2022.
GL EDUCATION GROUP LIMITED has shown a significant improvement in their payment pattern over the last three periods. In Jan 2022, 15% of their invoices were paid later than 60 days, which decreased to 8% in Mar 2022 and further decreased to 1% in June 2022. This shows a positive trend towards early payment and a decrease in the percentage of invoices not paid within agreed terms.
| 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 Jan 2022 - 30 Jun 2022 | 05 Aug 2022 | 40 | 34% | 51% | 15% | 15% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
60 days
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
60
Any complaints or concerns will be considered by the finance department in a timely manner.
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.
❌
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.
❌
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.
❌
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
GL Education Group Limited is the registered company behind the GL Education brand, which develops and supplies educational assessments used by schools internationally, including tools such as CAT4, NGRT, PASS, WellComm and Accelerated Reader. Its assessments help teachers identify student strengths and challenges, support children with additional educational needs, track progress and inform teaching decisions. The business has provided assessments to schools for over 40 years and describes itself as the largest provider of educational assessments to UK schools, with products used in over 100 countries. Since 2023, GL Education has operated as part of Renaissance, a global education technology group, together offering a combined suite of assessment and learning tools for schools.
Generated from the company's website and Companies House records. Sources: gl-education.com · gl-education.com