Score of 87.2/100 qualifies for PaymentCheck Certification
The average time taken for THE MERCHANT TAYLORS' SCHOOLS,CROSBY to pay invoices has been fluctuating over the past three periods. It has increased from 23 days in 2017-2018 to 29 days in 2019-2020, before decreasing to 25 days in 2022-2023.
The volatility in the average time taken to pay invoices for THE MERCHANT TAYLORS' SCHOOLS,CROSBY has been relatively low, with a range of only 6 days over the past three periods.
Overall, there has been a slight increase in the average time taken for THE MERCHANT TAYLORS' SCHOOLS,CROSBY to pay invoices, with a peak of 29 days in 2019-2020. However, there has also been an improvement in paying invoices within 30 days, with an increase from 73% in 2018-2019 to 81% in 2022-2023. The worst period for late payment was in 2022-2023, where 9% of invoices were paid later than 60 days.
| 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 Mar 2022 - 31 Aug 2022 | 19 Oct 2022 | 25 | 81% | 15% | 4% | 4% |
| 01 Sept 2021 - 28 Feb 2022 | 20 Apr 2022 | 28 | 77% | 18% | 5% | 5% |
| 01 Mar 2021 - 31 Aug 2021 | 08 Nov 2021 | 29 | 74% | 20% | 5% | 5% |
| 01 Sept 2020 - 28 Feb 2021 | 19 Mar 2021 | 26 | 81% | 14% | 5% | 5% |
| 01 Mar 2020 - 31 Aug 2020 | 27 Oct 2020 | 35 | 73% | 19% | 9% | 9% |
| 01 Sept 2019 - 29 Feb 2020 | 04 Aug 2020 | 29 | 74% | 18% | 9% | 9% |
| 01 Mar 2019 - 31 Aug 2019 | 25 Oct 2019 | 29 | 74% | 18% | 9% | 9% |
| 01 Sept 2018 - 28 Feb 2019 | 09 Aug 2019 | 28 | 66% | 31% | 4% | 4% |
| 01 Mar 2018 - 31 Aug 2018 | 18 Jul 2019 | 27 | 73% | 21% | 6% | 6% |
| 01 Sept 2017 - 28 Feb 2018 | 09 Apr 2018 | 23 | 84% | 14% | 3% | 7% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
We comply with our supplier's 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
60
Initial issues a dealt with by the budget holder. If not resolved complaints are escalated to the finance department
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 Merchant Taylors' Schools, Crosby is an independent school in Merseyside, operating under the trading name Merchant Taylors' School. It provides education across a preparatory school, Stanfield Prep, a senior school and a sixth form, alongside sports centre facilities and facility hire for parties and children's activities. The organisation is registered as a charity as well as a company, reflecting its status as an educational institution rather than a commercial trading entity. Its offering covers general secondary and preparatory education, admissions for prospective pupils, and wider community engagement including alumni networking and fundraising. The school reports academic outcomes such as GCSE and A Level results, and it hosts open events for prospective families throughout the year.
Generated from the company's website and Companies House records. Sources: merchanttaylors.com · merchanttaylors.com