Ranked in 2 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
Score of 98.1/100 qualifies for PaymentCheck Certification
From September 2018 to August 2024, there has been a consistent trend of paying invoices within 30 days with an average time to pay of 14 days. However, there was a significant improvement in March 2021 when the average time to pay dropped to 6 days.
The volatility in invoice payment for THE FIRST FEDERATION TRUST has been relatively low with no major changes in the percentage of invoices paid within 30 days, between 31 and 60 days, or later than 60 days. The only notable change was in March 2021 when the percentage of invoices paid within 30 days increased by 1% while the percentage of invoices not paid within agreed terms increased by 6%.
Between September 2018 to August 2024, THE FIRST FEDERATION TRUST has consistently paid invoices within an average of 14 days. However, there was a significant improvement in March 2021 when the average time to pay dropped to 6 days. This trend has continued since then.
| 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 Sept 2023 - 29 Feb 2024 | 06 Mar 2024 | 6 | 99% | 0% | 1% | 7% |
| 01 Mar 2023 - 31 Aug 2023 | 26 Sept 2023 | 6 | 99% | 1% | 0% | 6% |
| 01 Sept 2022 - 28 Feb 2023 | 03 Mar 2023 | 6 | 99% | 1% | 0% | 6% |
| 01 Mar 2022 - 31 Aug 2022 | 07 Sept 2022 | 6 | 100% | 0% | 0% | 6% |
| 01 Sept 2021 - 28 Feb 2022 | 08 Mar 2022 | 6 | 100% | 0% | 0% | 6% |
| 01 Mar 2021 - 31 Aug 2021 | 02 Sept 2021 | 6 | 99% | 1% | 0% | 6% |
| 01 Sept 2020 - 28 Feb 2021 | 08 Mar 2021 | 6 | 99% | 1% | 0% | 6% |
| 01 Mar 2020 - 31 Aug 2020 | 24 Sept 2020 | 14 | 100% | 0% | 0% | 0% |
| 01 Sept 2019 - 29 Feb 2020 | 10 Mar 2020 | 14 | 100% | 0% | 0% | 0% |
| 01 Mar 2019 - 31 Aug 2019 | 15 Oct 2019 | 14 | 100% | 0% | 0% | 0% |
| 01 Sept 2018 - 28 Feb 2019 | 15 Oct 2019 | 14 | 100% | 0% | 0% | 0% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
We pay all invoices within the standard 30 days of receipt of invoice unless we have invoices that are in dispute and then these will be monitored and followed up regularly
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
Disputes relating to payments for any goods or services, under any qualifying contracts, are initially directed to the relevant finance administrator within the school to which the goods or services were supplied or ordered. Any dispute will be investigated and resolved as quickly as possible by the Finance Administrator or passed over to a member of the First Federation Trust central finance team for further investigation.
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 First Federation Trust is a multi-academy trust operating primary schools across Devon and Dorset, previously known as The Primary Academies (Voluntary Aided) Trust before renaming in 2013. It is registered as a private company limited by guarantee and is classed under pre-primary and primary education. According to Get Information about Schools records, the trust governs 29 academies, including converter and sponsor-led primary schools, several with church of England affiliations, located in areas such as Exeter, Plymouth, Axminster, Weymouth and Bridport. As a multi-academy trust it holds overall governance responsibility for these member schools rather than running a single site.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk · get-information-schools.service.gov.uk