MILTON KEYNES EDUCATION TRUST
Company Information
- Company Number
- 07663689
- Registered Address
- Walton High Fyfield Barrow, Walnut Tree, Milton Keynes, MK7 7WH
- Status
- Active
- Employee Count
- 409
- Turnover
- £6,924,000
- EBITDA
- -£95,000
Additional Details
- Company Type
- Private Limited Company by guarantee without share capital use of 'Limited' exemption
- Incorporated On
- 9 June 2011
- Nature of Business
- 85310 - General secondary education85590 - Other education not elsewhere classified
- Industries
- Education
- Region
- South East
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Performance Reports History
| 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 | 08 Dec 2023 | 26 | 73% | 25% | 2% | 49% |
| 01 Sept 2022 - 28 Feb 2023 | 08 Dec 2023 | 25 | 80% | 17% | 3% | 38% |
| 01 Mar 2022 - 31 Aug 2022 | 08 Dec 2023 | 26 | 72% | 27% | 1% | 52% |
| 01 Sept 2021 - 28 Feb 2022 | 29 Mar 2022 | 22 | 65% | 33% | 2% | 35% |
| 01 Mar 2021 - 31 Aug 2021 | 30 Sept 2021 | 17 | 63% | 34% | 3% | 37% |
| 01 Sept 2020 - 28 Feb 2021 | 31 Mar 2021 | 24 | 65% | 31% | 4% | 35% |
| 01 Sept 2019 - 29 Feb 2020 | 13 Mar 2020 | 20 | 71% | 27% | 2% | 29% |
| 01 Mar 2019 - 31 Aug 2019 | 30 Sept 2019 | 20 | 71% | 27% | 2% | 29% |
| 01 Sept 2018 - 28 Feb 2019 | 18 Mar 2019 | 21 | 74% | 22% | 4% | 26% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Milton Keynes Education Trust standard terms are "the supplier shall be entitled to invoice MKET on delivery of the goods under this Contract. Unless otherwise agreed, MKET will pay for the goods within 30 days from receipt 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
30
Dispute Resolution Process
In the first instance suppliers engage directly with the School Business/Office Manager, they can then escalate to the Chief Operating Officer and then the Chief Executive Officer (accountable officer)
Other Payment Information
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
Company Summary
Milton Keynes Education Trust (MKET) is a non-profit organization that provides educational services and support to schools in the Milton Keynes area. The trust was established in 2011 and is governed by a Board of Trustees, with the aim of improving educational outcomes for children and young people.
One of the key initiatives of MKET is their sustainability program, which focuses on promoting environmental awareness and responsibility among schools and students. This includes implementing eco-friendly practices in school buildings, promoting recycling and reducing waste, and educating students about sustainable living.
MKET also offers a range of products and services to schools, including professional development opportunities for teachers, school improvement programs, and support for special educational needs. They also provide financial support for schools in need and work closely with local businesses to create opportunities for students.
The key people at MKET include the Chief Executive Officer, Board of Trustees, and a team of experienced education professionals. They work together to ensure that the trust's goals and objectives are met, and to provide high-quality services to schools in the area.
For more information on MKET and their services, visit their website at www.mket.org.uk. Their registered office address is at Unit 6, Acorn Business Centre, Cublington Road, Wing, Leighton Buzzard, Bedfordshire, LU7 0LB.
