At the end of each financial year we publish a statement of accounts.
The accounts show:
By law, we must publish certain documents and information about the annual external audit of our accounts:
| Financial year | Undisputed invoices paid within 30 days | Value of liability of invoices paid after 30 days | Value of interest for late payment charges paid to suppliers |
|---|---|---|---|
| 2023 to 24 | 93.2% | £344,298 | £0 |
| 2022 to 23 | 97.1% | £250,196.74 | £0 |
| 2021 to 22 | 97.1% | £145,139.43 | £0 |
| 2020 to 21 | 97.3% | £197,463 | £368 |
| 2019 to 20 | 91.0% | £356,964 | £0 |
| 2018 to 19 | 89.0% | £272,026 | £0 |
| 2017 to 18 | 89.1% | £231,036 | £0 |
| 2016 to 17 | 86.7% | £277,190 | £0 |
| 2015 to 16 | 87.7% | £944,479 | £0 |
We are committed to paying all undisputed invoices within 30 days. Payment delays can happen if invoices are in dispute.
Payment delays to undisputed invoices can happen if credit balances are held on supplier accounts.
We calculate interest liability at 8% plus the Bank of England base rate on 31 March for each financial year.
A large majority of maintained schools use our financial system. At present, we are not able to separate their figures.
We plan to develop our finance system by April 2021. We aim to improve processes, extend staff training, and improve our payment performance.