| 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 Aug 2018 - 31 Jan 2019 | 17 Jul 2019 | 24 | 67% | 32% | 1% | 15% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Supplier or product invoices we aim to pay 30 days after the date of invoice unless the standard supplier terms are longer The Foundation has different payment terms which are agreed with contracts at the start of a major building contract. On vehicle travel invoices we pay once the travel using the vehicle has taken place as greed with the supplier. Where a direct debit arrangement has been set up with a supplier, it is the supplier's responsibility to make sure payment is taken at the correct time.
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
In the first instance the accounts department will contact the supplier to discuss the problem, this will happen as soon as it Is established there is a complaint or dispute on either side. The accounts team will liaise with the internal department within the Foundation whom asked for the goods or service to confirm any issues they may have, a further communication will then take place with the supplier, a simple query will be sorted out within a short period of time. A more complicated dispute with a contract may take longer depending on the nature of the dispute and ultimately could be referred to The Foundations solicitors.
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 Leys and St Faith's Schools Foundation is an independent charitable trust that oversees two schools in Cambridge, England – The Leys School and St Faith's School. The foundation's mission is to provide a high-quality education for students while promoting a strong sense of community and social responsibility.
One of the key focuses of the foundation is sustainability. The schools have implemented various initiatives to reduce their environmental impact, such as using eco-friendly cleaning products, promoting recycling and reducing energy consumption. The schools also have an on-site garden where students learn about sustainable gardening practices.
The Leys School is a co-educational boarding and day school for students aged 11-18, while St Faith's School is a co-educational day school for students aged 4-13. Both schools offer a rigorous academic curriculum, as well as a wide range of extracurricular activities, including music, sports, and drama.
The foundation is overseen by a Board of Governors, led by Chairman Sir Peter Lampl. The schools are managed by Headmaster Martin Priestley and Headmistress Julie Lodrick. The foundation also has a Development Office, which works to raise funds for the schools' bursary program, providing financial assistance for students in need.
For more information on The Leys and St Faith's Schools Foundation, please visit their website at www.theleys.net or contact their registered office at The Leys School, Fen Causeway, Cambridge, CB2 7AD.