Score of 98.5/100 qualifies for PaymentCheck Certification
The trend for LIONMAT CLOSED shows a consistent decrease in the average time taken to pay invoices over the past three periods. This indicates that the company is making efforts to pay their invoices earlier.
The data for LIONMAT CLOSED shows a relatively stable pattern with minimal fluctuations in the average time taken to pay invoices and the percentages of invoices paid within 30 days, between 31 and 60 days, and later than 60 days. However, there is a slight increase in the percentage of invoices not paid within agreed terms in the last two periods, which could be a cause for concern.
Over the past three periods, LIONMAT CLOSED has shown a significant improvement in their payment practices. The average time taken to pay invoices has decreased from 11 days to 5 days, indicating a 55% improvement. The percentage of invoices paid within 30 days has consistently remained high at 95% or above. However, there has been a slight decrease in the percentage of invoices paid between 31 and 60 days in the last two periods, which could be attributed to the company's efforts to pay earlier.
| 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 2021 - 28 Feb 2022 | 03 Mar 2022 | |||||
| 01 Mar 2021 - 31 Aug 2021 | 21 Sept 2021 | 5 | 100% | 0% | 0% | 1% |
| 01 Sept 2020 - 28 Feb 2021 | 01 Mar 2021 | 5 | 98% | 1% | 1% | 3% |
| 01 Mar 2020 - 31 Aug 2020 | 03 Sept 2020 | 9 | 98% | 1% | 1% | 4% |
| 01 Sept 2019 - 29 Feb 2020 | 18 Mar 2020 | 8 | 96% | 3% | 1% | 6% |
| 01 Mar 2019 - 31 Aug 2019 | 04 Oct 2019 | 10 | 97% | 2% | 1% | 6% |
| 01 Sept 2018 - 28 Feb 2019 | 11 Apr 2019 | 7 | 98% | 1% | 1% | 5% |
| 01 Mar 2018 - 31 Aug 2018 | 13 Dec 2018 | 9 | 95% | 3% | 2% | 7% |
| 01 Sept 2017 - 28 Feb 2018 | 13 Dec 2018 | 11 | 95% | 3% | 2% | 7% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment is 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
Any disputes should be raised with accounts.payable@lionacademytrust.net in the first instance. If unsatisfied with the response please escalated to the Chief Financial Controller: jean@lionacademytrust.net.
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
LION ACADEMY TRUST is a dissolved private limited company by guarantee without share capital use of 'limited' exemption, incorporated on 7 August 2012, based in the London region. Registered business activity: Primary education.
From Companies House records.