| 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 2019 - 31 Aug 2019 | 30 Sept 2019 | 26 | 76% | 19% | 5% | 28% |
| 01 Sept 2018 - 28 Feb 2019 | 19 Mar 2019 | 30 | 74% | 19% | 7% | 30% |
| 01 Sept 2017 - 28 Feb 2018 | 28 Mar 2018 | 28 | 72% | 20% | 8% | 31% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
We have no prescribed standard payment terms as such. Our payment terms will follow those prescribed by our suppliers, which are normally 30 days
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
60
Complaints – resolution achieved through initial contact with finance staff, who will interrogate finance system to confirm payment date/payment due date. Finance staff routinely reconcile supplier statements to the finance system and request copy invoices if undisputed invoices remain unpaid. The Trust centralised the Finance function at the beginning of April 2018: the Trust is working to ensure that the majority of invoices for payment should be sent to the central location rather than the individual schools, to maximize efficiency of receipting and processing of invoices within the 30 day period. It should also be noted that the Trust’s finance staff work within term times, plus additional days during holidays, so there is an expectation for suppliers to acknowledge our working periods. Disputes – invoices will be disputed in instances of non-delivery of goods, delivery of sub-standard good, delivery of unordered good, delivery of substandard service etc. Invoices will remain unpaid until the dispute is resolved i.e. completion of service delivery, full delivery of goods, receipt of purchase credit note etc. The Trust has no instances of court action in respect of non-payment of invoices
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
ATLANTIC CENTRE OF EXCELLENCE MULTI ACADEMY TRUST is a dissolved private limited company by guarantee without share capital use of 'limited' exemption, incorporated on 19 November 2013, based in the South West region. Registered business activity: Primary education.
From Companies House records.