Score of 96.3/100 qualifies for PaymentCheck Certification
Overall, there has been a slight increase in the average time taken for LEARNER ENGAGEMENT AND ACHIEVEMENT PARTNERSHIP MULTI-ACADEMY TRUST to pay invoices over the past three periods. From September 2017 to February 2018, the average time to pay was 5 days, which increased to 9 days from March 2018 to August 2018. The average time to pay then remained relatively stable at 8-11 days from September 2019 to August 2023.
There is relatively low volatility in the percentage of invoices paid within 30 days, with a range of 97-99% over the past three periods. However, there has been some volatility in the percentage of invoices paid between 31-60 days, with a range of 1-7%. The highest percentage of invoices paid later than 60 days was 3% from March 2018 to August 2018.
| 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 2023 - 31 Aug 2023 | 25 Sept 2023 | 11 | 98% | 1% | 1% | 13% |
| 01 Sept 2022 - 28 Feb 2023 | 11 Jul 2023 | 10 | 97% | 2% | 1% | 15% |
| 01 Mar 2022 - 31 Aug 2022 | 03 Nov 2022 | 8 | 99% | 1% | 0% | 14% |
| 01 Sept 2021 - 28 Feb 2022 | 17 Mar 2022 | 10 | 98% | 1% | 1% | 13% |
| 01 Mar 2021 - 31 Aug 2021 | 01 Oct 2021 | 10 | 99% | 1% | 0% | 12% |
| 01 Sept 2020 - 28 Feb 2021 | 01 Apr 2021 | 10 | 98% | 1% | 1% | 11% |
| 01 Mar 2020 - 31 Aug 2020 | 03 Nov 2020 | 21 | 90% | 7% | 3% | 24% |
| 01 Sept 2019 - 29 Feb 2020 | 01 Apr 2020 | 10 | 98% | 1% | 1% | 11% |
| 01 Mar 2019 - 31 Aug 2019 | 06 Nov 2019 | 8 | 99% | 1% | 0% | 14% |
| 01 Sept 2018 - 28 Feb 2019 | 17 Apr 2019 | 9 | 97% | 2% | 1% | 0% |
| 01 Mar 2018 - 31 Aug 2018 | 03 Oct 2018 | 9 | 97% | 3% | 0% | 0% |
| 01 Sept 2017 - 28 Feb 2018 | 28 Mar 2018 | 5 | 92% | 6% | 2% | 26% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 days from date of invoice
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
40
Any issues regarding payments are dealt with by the finance team in the first instance. If they cannot resolve the issue then it would be escalated to the CFO. Any other disputes would be handled following our standard complaints procedure.
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
LEARNER ENGAGEMENT AND ACHIEVEMENT PARTNERSHIP MULTI-ACADEMY TRUST is an active private limited company by guarantee without share capital use of 'limited' exemption, incorporated on 31 August 2010, based in the Yorkshire and The Humber region. Registered business activity: General secondary education.
From Companies House records.