Industry ranking
Score of 82.83/100 qualifies for PaymentCheck Certification
The average time taken for DISCOVERY SCHOOLS ACADEMIES TRUST LTD to pay invoices has fluctuated between 8-14 days over the past 6 years. However, there has been a general trend of improvement as the average time taken has decreased from 14 days in 2017 to 14 days in 2023.
The volatility in the percentage of invoices paid within 30 days has been relatively low, ranging from 94%-99% over the past 6 years. The percentage of invoices paid between 31-60 days has also remained stable, fluctuating between 1-5%. However, there has been some volatility in the percentage of invoices paid later than 60 days, with a high of 2% in 2020 and a low of 0% in 2022 and 2023.
| 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 2024 - 31 Aug 2024 | 26 Sept 2024 | 34 | 70% | 24% | 6% | 8% |
| 01 Sept 2023 - 29 Feb 2024 | 05 Mar 2024 | 12 | 97% | 2% | 1% | 10% |
| 01 Mar 2023 - 31 Aug 2023 | 03 Oct 2023 | 14 | 95% | 5% | 0% | 13% |
| 01 Sept 2022 - 28 Feb 2023 | 23 Mar 2023 | 13 | 97% | 3% | 0% | 14% |
| 01 Mar 2022 - 31 Aug 2022 | 28 Sept 2022 | 13 | 95% | 5% | 0% | 15% |
| 01 Sept 2021 - 28 Feb 2022 | 23 Mar 2022 | 11 | 97% | 2% | 1% | 14% |
| 01 Mar 2021 - 31 Aug 2021 | 22 Sept 2021 | 8 | 98% | 1% | 1% | 10% |
| 01 Sept 2020 - 28 Feb 2021 | 24 Mar 2021 | 9 | 99% | 1% | 0% | 10% |
| 01 Mar 2020 - 31 Aug 2020 | 07 Sept 2020 | 9 | 98% | 2% | 0% | 10% |
| 01 Sept 2019 - 29 Feb 2020 | 05 Mar 2020 | 14 | 95% | 3% | 2% | 19% |
| 01 Mar 2019 - 31 Aug 2019 | 11 Sept 2019 | 11 | 96% | 3% | 1% | 16% |
| 01 Sept 2018 - 28 Feb 2019 | 05 Mar 2019 | 12 | 96% | 4% | 0% | 15% |
| 01 Mar 2018 - 31 Aug 2018 | 20 Sept 2018 | 11 | 95% | 4% | 1% | 17% |
| 01 Sept 2017 - 28 Feb 2018 | 21 Mar 2018 | 11 | 94% | 5% | 1% | 18% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The Trust operates a standard 30 days payment term unless otherwise agreed. Agreements outside of the standard term during the reportable period included: a. Payments made via direct debit whereby the payment date may be less than the agreed 30 days. b. Large capital projects whereby the payments terms will be agreed during the tender process and will be dependent on factors such as the source of funding for the project. Payments will be made by BACS unless otherwise agreed.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
N/A
Maximum contractual payment period agreed
30
The Trust aims to avoid disputes with suppliers where possible. Where this is unavoidable, regular communication is maintained in order to resolve the dispute. Contact details relating to the supply are stated on the purchase order which should be used by the supplier to raise any concerns or complaints. A key Trust finance representative will maintain contact with the supplier with the aim of resolving the dispute and making payment within the standard 30 days payment terms however this may not always be possible depending on the nature of the dispute.
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
Discovery Schools Academies Trust Ltd is a multi-academy trust registered as a company limited by guarantee, operating primary and special schools across Leicester, Leicestershire and Rutland. Government records list it as a group with 21 academies, including primary, secondary and special converter schools such as Kibworth Church of England Primary School, Parkland Primary School South Wigston and Millgate School. As a trust it holds governance responsibility for its member academies rather than trading commercially. Its registered SIC classification is primary education, reflecting its core role in overseeing state-funded school provision within its geographic area.
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