| 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 Sept 2018 - 28 Feb 2019 | 20 Mar 2019 | 32 | 65% | 27% | 8% | 40% |
| 01 Sept 2017 - 28 Feb 2018 | 26 Mar 2018 | 32 | 66% | 27% | 7% | 39% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The Trust does not have standard payment terms. Payment terms are agreed with suppliers as part of the contract negotiations. The most frequent used payment terms in the reporting period are 30 days. The supplier shall, following acceptance of any deliverables, be entitled to submit an invoice for the agreed charge. Each invoice shall contain the particulars required by statue in respect of VAT, the PO number, if any, and any other particulars agreed with the supplier and shall be sent to the address notified to the supplier. The Trust reserves the right to refuse payment of part or all of any invoice which is not submitted in accordance with these conditions.
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
30
Disputes are resolved by discussion and agreement with the supplier or if that fails in accordance with the law.
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
Grace Academy is a secondary school operating as part of the Grace Academy multi-academy group, registered with a company number and SIC code for general secondary education. Its registered office is given as Sponne School in Towcester, though the evidence describes the Coventry site of the academy, which provides education from Year 7 through Sixth Form, including GCSE, A Level and BTEC provision. The school offers a broad curriculum alongside enrichment activities, careers guidance, pastoral and nurture support, and extra-curricular programmes such as drama, art and sport. It operates under the wider Grace Foundation, with its own performance reported through Ofsted and published school results.
Generated from the company's website and Companies House records. Sources: coventry.graceacademy.org.uk