Industry ranking
The average time taken for THE MEAD EDUCATIONAL TRUST to pay invoices has remained consistent at 24 days from 2017-2019, but has increased to 25-30 days from 2020-2023. The percentage of invoices paid within 30 days has also remained consistent at 80-83%, but there has been a slight increase in the percentage of invoices paid later than 60 days from 6% in 2017-2019 to 7-10% in 2020-2023.
The volatility in the average time taken for THE MEAD EDUCATIONAL TRUST to pay invoices is relatively low, as it has only increased by 1-6 days over the course of 6 years. The volatility in the percentage of invoices paid within 30 days is also low, as it has only decreased by 1-4% over the same time period. However, the volatility in the percentage of invoices paid later than 60 days is slightly higher, as it has increased by 1-4% over the course of 6 years.
From 2017-2023, THE MEAD EDUCATIONAL TRUST has consistently taken an average of 24 days to pay invoices. The percentage of invoices paid within 30 days has also remained consistent at 80-83%, while the percentage of invoices paid later than 60 days has slightly increased from 6% in 2017-2019 to 7-10% in 2020-2023. The shortest (or only) standard payment period for THE MEAD EDUCATIONAL TRUST is 30 days, which has remained consistent throughout all the periods analyzed.
| 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 | 12 Mar 2026 | 34 | 72% | 21% | 7% | 40% |
| 01 Mar 2025 - 31 Aug 2025 | 02 Sept 2025 | 31 | 79% | 16% | 5% | 33% |
| 01 Sept 2024 - 28 Feb 2025 | 05 Mar 2025 | 33 | 73% | 19% | 8% | 39% |
| 01 Mar 2024 - 31 Aug 2024 | 09 Sept 2024 | 33 | 76% | 16% | 8% | 31% |
| 01 Sept 2023 - 29 Feb 2024 | 06 Mar 2024 | 28 | 76% | 14% | 9% | 28% |
| 01 Mar 2023 - 31 Aug 2023 | 29 Sept 2023 | 29 | 77% | 15% | 8% | 27% |
| 01 Sept 2022 - 28 Feb 2023 | 24 Mar 2023 | 30 | 76% | 15% | 10% | 29% |
| 01 Mar 2022 - 31 Aug 2022 | 30 Sept 2022 | 28 | 76% | 16% | 8% | 21% |
| 01 Sept 2021 - 28 Feb 2022 | 30 Mar 2022 | 26 | 79% | 13% | 7% | 20% |
| 01 Mar 2021 - 31 Aug 2021 | 30 Sept 2021 | 25 | 80% | 12% | 8% | 16% |
| 01 Sept 2020 - 28 Feb 2021 | 24 Mar 2021 | 25 | 79% | 14% | 7% | 20% |
| 01 Mar 2020 - 31 Aug 2020 | 29 Sept 2020 | 27 | 79% | 12% | 9% | 21% |
| 01 Sept 2019 - 29 Feb 2020 | 30 Mar 2020 | 24 | 83% | 12% | 6% | 18% |
| 01 Mar 2019 - 31 Aug 2019 | 26 Sept 2019 | 24 | 82% | 11% | 7% | 18% |
| 01 Sept 2018 - 28 Feb 2019 | 28 Mar 2019 | 24 | 82% | 12% | 6% | 18% |
| 01 Mar 2018 - 31 Aug 2018 | 24 Sept 2018 | 24 | 83% | 11% | 6% | 17% |
| 01 Sept 2017 - 28 Feb 2018 | 03 Apr 2018 | 24 | 80% | 14% | 6% | 21% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Most of our suppliers require payment within 30 days of the invoice, though a small number of suppliers do have terms that allow us to make payments that exceed past the ‘longest standard payment period’ of 30 days. We also have a small number of suppliers requiring payment earlier than 30 days : i.e Sole traders, deposits for trips, these are done as and when required At TMET, we aspire to process all invoices within 30 days of receipt as we are aware that many of our smaller suppliers rely on prompt payments to hold strength in their business cash flow.
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
On rare occasions when we have to dispute an invoice the procedure is as follows: 1 - Contact the supplier in the first instance to try and resolve the issue. 2 - If the issue is not resolved in the first instance, we provide evidence via email as to why we think that the invoice is incorrect. 2a - If the supplier is not satisfied with our evidence we then ask the supplier to provide evidence that supports their invoice. 3 – This procedure continues until a resolution is made.
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
The Mead Educational Trust (TMET) is a multi-academy trust based in Leicester, registered to run primary and secondary education provision. Companies House records its nature of business as primary and general secondary education. Evidence confirms it operates as the trust body overseeing academy schools, including Abbey Mead Primary Academy, which describes itself as providing a broad curriculum for pupils and operates under TMET's governance. The trust's website references its academy council, governance structure and annual accounts, indicating its role as the overarching educational trust rather than a single school. The entity itself does not trade commercially but administers academies within the group across the Leicester area.
Generated from the company's website and Companies House records. Sources: abbey-tmet.uk · abbey-tmet.uk