Ranked in 2 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
The average time to pay has decreased by 11 days (24.4%) compared to the previous period, indicating an improvement in payment efficiency. The percentage of invoices paid within 30 days has also increased by 29%, while the percentage of invoices paid later than 60 days has decreased by 7%.
The volatility in payment time has decreased with the average time to pay decreasing and a decrease in the percentage of invoices paid later than 60 days. However, there has been an increase in the percentage of invoices paid between 31 and 60 days, indicating some inconsistency in payment times.
| 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 2025 - 28 Feb 2026 | 04 Mar 2026 | 31 | 54% | 43% | 3% | 46% |
| 01 Mar 2025 - 31 Aug 2025 | 03 Sept 2025 | 32 | 51% | 46% | 3% | 49% |
| 01 Sept 2024 - 28 Feb 2025 | 05 Mar 2025 | 33 | 51% | 45% | 4% | 49% |
| 01 Mar 2024 - 31 Aug 2024 | 05 Sept 2024 | 38 | 43% | 50% | 7% | 57% |
| 01 Sept 2023 - 29 Feb 2024 | 01 Mar 2024 | 36 | 38% | 57% | 5% | 62% |
| 01 Mar 2023 - 31 Aug 2023 | 25 Sept 2023 | 41 | 35% | 56% | 9% | 65% |
| 01 Sept 2022 - 28 Feb 2023 | 01 Mar 2023 | 35 | 59% | 29% | 12% | 40% |
| 01 Mar 2022 - 31 Aug 2022 | 14 Sept 2022 | 34 | 62% | 29% | 9% | 91% |
| 01 Sept 2021 - 28 Feb 2022 | 15 Sept 2022 | 45 | 33% | 51% | 16% | 67% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
We use the payment terms on our supplier invoices If there are no credit terms, we pay within 30 days
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
N/a
Maximum contractual payment period agreed
30
If there is a dispute our Purchase Ledger FA will contact the specific department within the School that the invoice is addressed to for authorisation. once agreed by the budget holder of that specific department, payment will be made either on the next payment run or by fast payment if deemed necessary. No invoice will be paid unless authorised by an employee of our organisation. Our Purchase Ledger Assistant will liaise with the supplier to come to a mutually acceptable solution.
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
RATCLIFFE COLLEGE is an active private limited company by guarantee without share capital use of 'limited' exemption, incorporated on 9 August 2006, based in the East Midlands region. Registered business activity: Pre-primary education; Primary education; General secondary education.
From Companies House records.