| 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 Feb 2019 - 31 Jul 2019 | 29 Aug 2019 | 27 | 67% | 29% | 4% | 18% |
| 01 Aug 2018 - 31 Jan 2019 | 28 Feb 2019 | 28 | 68% | 27% | 5% | 17% |
| 01 Feb 2018 - 31 Jul 2018 | 29 Aug 2018 | 26 | 72% | 24% | 4% | 17% |
| 01 Aug 2017 - 31 Jan 2018 | 27 Feb 2018 | 27 | 69% | 27% | 4% | 15% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Most of our suppliers require payment within 30 days of invoice, though a small number of suppliers do have 7 day or 14 day terms or terms allowing payment at the end of the month following invoice. We endeavour to process and pay suppliers invoices within a 30 day timeframe (or sooner if required), as we are aware that many of our small local suppliers rely upon prompt payment for their business cash flow.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
The Foundation has a robust cash flow and positive bank balances. We therefore make every effort to pay promptly and keep within suppliers payment terms. However, as we are a school, many of the budget holders who would authorise payment of particular invoices are unavailable outside of term time and therefore some delays may occur with educational invoices over the school holiday periods.
Maximum contractual payment period agreed
61
Suppliers chasing missing payments normally contact the Purchase Ledger Administrator (PLA) who would then ask the supplier to send a copy of the missing invoices. The PLA then contacts the budget holder who ordered the goods/services to either obtain authorisation to pay the invoice (if it was a simple matter of an invoice going astray) or for the budget holder to advise if there is any dispute.
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
Wakefield Grammar School Foundation is the governing body overseeing a family of independent day schools in Wakefield, comprising Wakefield Grammar Pre-Preparatory School, Wakefield Girls' High School and Queen Elizabeth Grammar School. It provides pre-primary, primary and secondary education for pupils aged 3 to 18, with girls and boys joining at different ages across its junior and senior sections. The Foundation also runs a sixth form, offers fee assistance, scholarships and bursaries, and organises extra-curricular and pathways to success programmes. Facilities are available for hire, and the organisation maintains links with alumni, supports transfer students, and engages in partnerships with state schools as part of its public benefit activities.
Generated from the company's website and Companies House records. Sources: wgsf.org.uk · wgsf.org.uk