The average time for LEARNING IN HARMONY MULTI ACADEMY TRUST to pay invoices has decreased by 10% over the past three periods, from 20 days to 18 days. This indicates an improvement in the efficiency of invoice payment.
The company has shown a consistent trend of paying the majority of invoices within 30 days, with an average of 85% of invoices falling within this timeframe. However, there has been some volatility in the percentage of invoices paid between 31 and 60 days, ranging from 11% to 12%. The percentage of invoices paid later than 60 days has also fluctuated, with the highest being 4% in the period from 2017-03-01 to 2018-08-31.
Between the periods of 2017-03-01 to 2018-08-31 and 2018-09-01 to 2019-02-28, there has been a 10% decrease in the average time taken for LEARNING IN HARMONY MULTI ACADEMY TRUST to pay invoices. The company has consistently paid the majority of invoices within 30 days, with an average of 85%. However, there has been some fluctuation in the percentage of invoices paid between 31 and 60 days and later than 60 days. The shortest (or only) standard payment period for the company is 30 days.
| 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 2018 - 28 Feb 2019 | 17 Sept 2019 | 18 | 86% | 11% | 3% | 14% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 days from invoice date
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 queries on payment are normally handled by Academy Finance Officers/Central Finance Team - this accounts for the vast majority of payment queries. If required escalation is via the School Business Leaders/Head Teachers and/or Company CFO
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
Learning in Harmony Multi Academy Trust is a multi-academy trust registered as a company limited by guarantee, incorporated in 2014 and based at Hartley Primary School in East Ham, London. Its Companies House business classification is other education not elsewhere classified. According to the Department for Education's Get Information about Schools register, the trust operates fourteen academies, including primary schools, special schools and a special free school, located across Newham, Waltham Forest, Islington and Southend-on-Sea. As a MAT it is the legal entity responsible for governance and oversight of these member academies, which provide state-funded primary and special education to pupils in those local authority areas.
Generated from the company's website and Companies House records. Sources: get-information-schools.service.gov.uk · find-and-update.company-information.service.gov.uk