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 prestigious independent school located in the heart of Worcester, England. It was founded in 1541 and has a long history of providing excellent education and opportunities for its students.
The school offers a wide range of academic and extracurricular activities for students aged 11-18. Its curriculum is designed to provide a well-rounded education, with a focus on academic excellence, personal growth, and community involvement.
One of the key initiatives at The King's School is its sustainability program. The school is committed to reducing its carbon footprint and promoting environmental stewardship. This includes initiatives such as recycling, energy conservation, and promoting sustainable transportation options for students.
In terms of products and services, The King's School offers a variety of academic courses, including traditional subjects like English, maths, and science, as well as more specialized subjects such as music, drama, and sports. The school also has a strong extracurricular program, with opportunities for students to participate in sports teams, music and drama productions, and community service projects.
The King's School is led by a team of dedicated staff, including the Headmaster, Mr. David Green. The school's website (www.ksw.org.uk) provides information on the school's mission, values, and curriculum, as well as updates on events and activities.
The registered office address for The King's School is College Green, Worcester, WR1 2LL, United Kingdom. Prospective students and parents can contact the school at +44 (0)1905 721 700 or admissions@ksw.org.uk for more information.