Score of 95.45/100 qualifies for PaymentCheck Certification
The average time taken by NET ACADEMIES TRUST to pay invoices to suppliers has decreased from 2021-2022, but has remained relatively stable from 2022-2023. The percentage of invoices paid within 30 days has fluctuated, with a decrease from 2021-2022, followed by an increase from 2022-2023. The percentage of invoices paid between 31 and 60 days has increased from 2021-2022, but has decreased from 2022-2023. The percentage of invoices paid later than 60 days has fluctuated, with a decrease from 2021-2022, followed by an increase from 2022-2023. The percentage of invoices not paid within agreed terms has increased from 2021-2022, but has decreased from 2022-2023.
The data for NET ACADEMIES TRUST shows high volatility, particularly in the percentage of invoices paid within 30 days and between 31 and 60 days. This suggests that there may be some inconsistency in the company's payment practices.
From September 2021 to August 2022, the average time taken by NET ACADEMIES TRUST to pay invoices to suppliers decreased from 13 days to 18 days. The percentage of invoices paid within 30 days decreased from 96% to 83%, while the percentage of invoices paid between 31 and 60 days increased from 2% to 16%. The percentage of invoices paid later than 60 days decreased from 2% to 1%, and the percentage of invoices not paid within agreed terms increased from 23% to 36%. From March 2023 to August 2023, the average time taken to pay invoices remained at 13 days. The percentage of invoices paid within 30 days increased from 96% to 96%, while the percentage of invoices paid between 31 and 60 days decreased from 3% to 3%. The percentage of invoices paid later than 60 days remained at 1%, and the percentage of invoices not paid within agreed terms decreased from 16% to 16%.
| 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 2025 - 28 Feb 2026 | 06 Mar 2026 | 15 | 98% | 2% | 0% | 4% |
| 01 Mar 2025 - 31 Aug 2025 | 01 Sept 2025 | 17 | 97% | 2% | 1% | 13% |
| 01 Sept 2024 - 28 Feb 2025 | 17 Mar 2025 | 15 | 96% | 3% | 1% | 12% |
| 01 Mar 2024 - 31 Aug 2024 | 20 Sept 2024 | 22 | 76% | 20% | 4% | 39% |
| 01 Sept 2023 - 29 Feb 2024 | 15 Mar 2024 | 13 | 95% | 4% | 1% | 16% |
| 01 Mar 2023 - 31 Aug 2023 | 28 Sept 2023 | 13 | 96% | 3% | 1% | 16% |
| 01 Sept 2022 - 28 Feb 2023 | 20 Mar 2023 | 15 | 90% | 7% | 3% | 22% |
| 01 Mar 2022 - 31 Aug 2022 | 26 Sept 2022 | 18 | 83% | 16% | 1% | 36% |
| 01 Sept 2021 - 28 Feb 2022 | 24 Mar 2022 | 13 | 96% | 2% | 2% | 23% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The majority of suppliers are paid on 30 day terms, however some are paid on 7 and 14 day term if requested by the supplier.
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
The Central Shared Services Finance team process all invoices and arrange payments for NET Academies Trust. They deal with all disputes, queries and complaints and aim to respond within 48 hours.
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