There is a clear downward trend in the average time taken to pay invoices for HORNBEAM ACADEMY TRUST, with a decrease of 32% from the first period to the second period and a slight increase of 14% in the most recent period. This indicates a general improvement in the company's payment processes.
The data shows a moderate level of volatility in the percentage of invoices paid within 30 days, as there was a 6% increase in the second period followed by a 4% decrease in the third period. The volatility is slightly higher in the percentage of invoices paid later than 60 days, with a 2% increase in the second period and another 2% increase in the third period.
| 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 2017 - 28 Feb 2018 | 29 Mar 2018 | 24 | 80% | 12% | 8% | 20% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
We aim to pay all suppliers within 30 days.
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
Contractor is contacted immediately to discuss dispute. This is the followed up by email. If no resolution it is passed to a senior member of staff to resolve.
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
HORNBEAM ACADEMY TRUST is a dissolved private limited company by guarantee without share capital use of 'limited' exemption, incorporated on 23 July 2012, based in the London region. Registered business activity: Other education not elsewhere classified.
From Companies House records.