The time taken for THE KING'S SCHOOL, WORCESTER to pay invoices has fluctuated between 24 and 32 days over the past three periods. However, there has been a general trend of improvement, with the average time to pay decreasing from 32 days in 2019-2020 to 26 days in 2020-2021.
There is a low level of volatility in the time taken for THE KING'S SCHOOL, WORCESTER to pay invoices, with the average time to pay staying within a range of 4 days over the past three periods.
Overall, there has been a slight improvement in the time taken for THE KING'S SCHOOL, WORCESTER to pay invoices over the past three periods. The average time to pay has decreased from 32 days to 26 days, and the percentage of invoices paid within 30 days has increased from 57% to 69%.
| 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 2022 - 31 Jan 2023 | 20 Mar 2023 | |||||
| 01 Feb 2022 - 31 Jul 2022 | 25 Nov 2022 | 28 | 70% | 26% | 4% | 44% |
| 01 Feb 2021 - 31 Jul 2021 | 24 Aug 2021 | 27 | 68% | 29% | 3% | 43% |
| 01 Aug 2020 - 31 Jan 2021 | 06 Apr 2021 | 26 | 69% | 28% | 3% | 38% |
| 01 Feb 2020 - 31 Jul 2020 | 19 Aug 2020 | 30 | 53% | 40% | 7% | 43% |
| 01 Aug 2019 - 31 Jan 2020 | 17 Feb 2020 | 32 | 57% | 36% | 7% | 49% |
| 01 Feb 2019 - 31 Jul 2019 | 09 Sept 2019 | 24 | 64% | 30% | 6% | 44% |
| 01 Aug 2018 - 31 Jan 2019 | 25 Feb 2019 | 28 | 69% | 25% | 6% | 30% |
| 01 Feb 2018 - 31 Jul 2018 | 05 Sept 2018 | 28 | 66% | 30% | 4% | 31% |
| 01 Aug 2017 - 31 Jan 2018 | 06 Mar 2018 | 29 | 69% | 26% | 5% | 31% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The most frequently used payment terms for qualifying contracts are within 7 days of receipt of invoice (the terms generally applied to small and/or local businesses), otherwise within 30 days of receipt of invoice unless extended period indicated by the supplier in which case within supplier stated terms.
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
45
Direct contact by accounts department with supplier by telephone and/or email, usually within 7 days of the matter of any dispute/complaint being identified. To the extent necessary further information/documentation may be sought from supplier and/or internally and if matter cannot be resolved within the accounts department a dispute/complaint will be referred to the bursar/Deputy Bursar.
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
The King's School, Worcester is a private limited company by guarantee that operates an independent school in Worcester, providing pre-primary, primary and general secondary education. Companies House records list its business activities under SIC codes for pre-primary, primary and general secondary education, consistent with running nursery, prep and senior school provision, including sites referenced in charge filings such as a prep school and pre-preparatory premises in Worcester. The company is active, having been incorporated in 2003, and holds several outstanding charges with a bank in connection with its properties. It is governed by a board of directors and a company secretary, reflecting its status as a charitable or guarantee-based educational institution rather than a commercial trading business.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk