BRIGHT FUTURES EDUCATIONAL TRUST
Company Information
- Company Number
- 07695771
- Registered Address
- The Hub 144 Irlam Road, Urmston, Manchester, England, M41 6NA
- Status
- Active
- Employee Count
- 785
- Turnover
- £59,614,000
- EBITDA
- £5,051,000
Additional Details
- Company Type
- Private Limited Company by guarantee without share capital use of 'Limited' exemption
- Incorporated On
- 6 July 2011
- Nature of Business
- 85310 - General secondary education
- Industries
- Coming Soon
- Region
- North West
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
The average time for BRIGHT FUTURES EDUCATIONAL TRUST to pay invoices has decreased over the past three periods, from 16 days in 2019-03-01 to 6 days in 2021-09-01. The percentage of invoices paid within 30 days has also increased, from 89% in 2019-03-01 to 98% in 2021-09-01. However, there was a slight increase in the percentage of invoices paid between 31 and 60 days in 2021-03-01 compared to 2020-09-01. Overall, there has been a positive trend towards early payment and adherence to agreed terms.
Volatility Analysis
The volatility of the average time to pay for BRIGHT FUTURES EDUCATIONAL TRUST has decreased over the past three periods, from 8 days in 2017-09-01 to 6 days in 2021-09-01. The percentage of invoices paid within 30 days has also become less volatile, with only a 1% difference between the highest and lowest values in the three periods. The percentage of invoices paid later than 60 days has also decreased significantly, from 6% in 2019-03-01 to 1% in 2021-09-01. This shows that BRIGHT FUTURES EDUCATIONAL TRUST has become more consistent in paying invoices on time.
Summary Analysis
In the past three periods, BRIGHT FUTURES EDUCATIONAL TRUST has shown a positive trend towards early payment and adherence to agreed terms for invoices. The average time to pay has decreased from 16 days in 2019-03-01 to 6 days in 2021-09-01. The percentage of invoices paid within 30 days has also increased from 89% in 2019-03-01 to 98% in 2021-09-01. However, there was a slight increase in the percentage of invoices paid between 31 and 60 days in 2021-03-01 compared to 2020-09-01. The worst period for BRIGHT FUTURES EDUCATIONAL TRUST was in 2019-09-01 where 19% of invoices were paid later than 60 days. The shortest (or only) standard payment period for BRIGHT FUTURES EDUCATIONAL TRUST is 30 days.
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 2022 - 31 Aug 2022 | 30 Sept 2022 | 9 | 97% | 2% | 1% | 0% |
| 01 Sept 2021 - 28 Feb 2022 | 16 Mar 2022 | 6 | 98% | 1% | 1% | 1% |
| 01 Mar 2021 - 31 Aug 2021 | 30 Sept 2021 | 6 | 83% | 16% | 2% | 0% |
| 01 Sept 2020 - 28 Feb 2021 | 14 Apr 2021 | 7 | 96% | 3% | 1% | 0% |
| 01 Mar 2020 - 31 Aug 2020 | 30 Sept 2020 | 11 | 92% | 4% | 4% | 11% |
| 01 Sept 2019 - 29 Feb 2020 | 27 Mar 2020 | 13 | 90% | 4% | 6% | 12% |
| 01 Mar 2019 - 31 Aug 2019 | 11 Dec 2019 | 16 | 89% | 5% | 6% | 17% |
| 01 Sept 2018 - 28 Feb 2019 | 23 Oct 2019 | 13 | 88% | 9% | 3% | 19% |
| 01 Mar 2018 - 31 Aug 2018 | 04 Oct 2018 | 12 | 92% | 6% | 2% | 16% |
| 01 Sept 2017 - 28 Feb 2018 | 14 May 2018 | 8 | 94% | 4% | 2% | 13% |
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
Within 30 day unless otherwise agreed
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
60
Dispute Resolution Process
Where an invoice is disputed, proof of purchase will be requested. Statements are requested and reconciled to our finance system
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
Bright Futures Educational Trust (BFET) is a multi-academy trust based in the UK, dedicated to providing high-quality education to students from all backgrounds. Led by a team of experienced education professionals, BFET aims to empower its students to reach their full potential and become responsible global citizens.
Under their sustainability program, BFET actively promotes environmental awareness and responsibility across all their schools. They have implemented various initiatives such as reducing waste, promoting energy efficiency, and educating students on environmental issues. BFET also offers a wide range of products and services, including academic programs, extracurricular activities, and support services for students with special needs.
Key people at BFET include their CEO, Dr. John Stephens, who has over 40 years of experience in education, and their Chair of the Board of Trustees, Lord Peter Smith, a former leader of the Greater Manchester Council. BFET also has a team of dedicated headteachers and staff at each of their schools.
To learn more about BFET, their website address is www.bfet.co.uk, where visitors can find information on their schools, news, and updates. The registered office address for BFET is C/O Manchester Communication Academy, Silchester Drive, Harpurhey, Manchester, M40 8NT. Overall, BFET is committed to providing a sustainable and inclusive education for all their students, making a positive impact in their communities.
