The average time taken for ROYAL CONSERVATOIRE OF SCOTLAND to pay invoices has remained relatively consistent over the past three periods, ranging from 30-33 days. However, there has been a significant increase in the percentage of invoices paid later than 60 days, from 2% in 2017-2018 to 5% in 2019-2020. This trend has since improved, with the most recent period showing a decrease to 3% of invoices paid later than 60 days.
The percentage of invoices paid within 30 days has fluctuated between 27-54% over the past three periods, showing some volatility in this area. However, the percentage of invoices paid between 31-60 days has remained consistent at around 60%. The biggest change has been in the percentage of invoices paid later than 60 days, which has increased from 2% to 5% in 2019-2020 before decreasing to 3% in the most recent period.
Between August 2017 and January 2022, ROYAL CONSERVATOIRE OF SCOTLAND has maintained an average time of 30-33 days to pay invoices. The percentage of invoices paid within 30 days has fluctuated between 27-54%, while the percentage of invoices paid between 31-60 days has remained consistent at around 60%. The worst period in terms of late payments was 2019-2020, where 5% of invoices were paid later than 60 days. The most recent period, February-July 2021, showed an improvement with only 3% of invoices being paid later than 60 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 Aug 2025 - 31 Jan 2026 | 04 Feb 2026 | 28 | 72% | 25% | 3% | 37% |
| 01 Feb 2025 - 31 Jul 2025 | 11 Sept 2025 | 30 | 60% | 36% | 4% | 51% |
| 01 Feb 2022 - 31 Jul 2022 | 25 Aug 2022 | 30 | 43% | 54% | 3% | 3% |
| 01 Aug 2021 - 31 Jan 2022 | 17 Feb 2022 | 30 | 36% | 60% | 4% | 4% |
| 01 Feb 2021 - 31 Jul 2021 | 21 Sept 2021 | 32 | 33% | 65% | 2% | 0% |
| 01 Aug 2020 - 31 Jan 2021 | 15 Feb 2021 | 33 | 27% | 70% | 3% | 2% |
| 01 Feb 2020 - 31 Jul 2020 | 09 Oct 2020 | |||||
| 01 Aug 2019 - 31 Jan 2020 | 27 Apr 2020 | 30 | 34% | 61% | 5% | 5% |
| 01 Feb 2019 - 31 Jul 2019 | 15 Aug 2019 | 30 | 54% | 45% | 1% | 2% |
| 01 Aug 2018 - 31 Jan 2019 | 19 Feb 2019 | 32 | 46% | 53% | 2% | 3% |
| 01 Feb 2018 - 31 Jul 2018 | 16 Aug 2018 | |||||
| 01 Aug 2017 - 31 Jan 2018 | 22 Feb 2018 | 32 | 54% | 44% | 2% | 3% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 days from invoice
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
60
Disputes are dealt with in the first instance by the Finance Administrator. In a situation where a resolution were not to be agreed, this would be escalated to the Deputy Director of Finance in the first instance, or the Director of Finance if the Deputy is unavailable.
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 Royal Conservatoire of Scotland (RCS) is a world-renowned institution for performing arts education, training students in music, drama, dance, production and film. Located in Glasgow, Scotland, it was founded in 1847 and has since become a leading conservatoire with a reputation for excellence.
The conservatoire offers a wide range of undergraduate, postgraduate and short courses, attracting students from all over the world. Its faculty consists of experienced professionals and renowned artists who provide students with a high-quality education.
In addition to its academic programs, the RCS also offers a variety of public performances and events, showcasing the talents of its students and faculty. These include concerts, plays, musicals, and dance performances, allowing the public to experience the high standard of training at the conservatoire.
The RCS is committed to promoting sustainability and has implemented various initiatives to reduce its environmental impact. This includes using renewable energy sources, reducing waste, and promoting sustainable transportation options. The conservatoire also encourages its students to incorporate sustainability into their creative work, promoting environmental awareness and responsibility in the arts.
The RCS offers several products and services, including recordings of its performances, merchandise, and venue hire for events. These products not only contribute to the conservatoire's revenue but also help promote its brand and showcase the talent of its students.
The key people at the RCS include Principal, Professor Jeffrey Sharkey, who oversees the management and strategic direction of the conservatoire. Other key figures include the heads of the various departments, as well as the faculty and administrative staff who work tirelessly to ensure the success of the institution.
For more information on the RCS, including its courses, performances, and sustainability initiatives, visit their website at www.rcs.ac.uk. The registered office address is 100 Renfrew Street, Glasgow, G2 3DB, United Kingdom.
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