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Section 172 (1) Statement

The Board of Directors consider that they have acted in a suitable manner to satisfy the requirements of Section 172(1) (a-f) of the Companies Act 2006 during the year ended 31 December 2021. The Directors fulfil their duties through a governance framework and reporting structure that includes delegation of certain day-to-day decision making to senior employees.
The Board of Directors consider that they have acted in a suitable manner to satisfy the requirements of Section 172(1) (a-f) of the Companies Act 2006 during the year ended 31 December 2021. The Directors fulfil their duties through a governance framework and reporting structure that includes delegation of certain day-to-day decision making to senior employees.
a) Likely consequences of any decision in the long term
The Company’s long-term success is dependent on the effective identification, evaluation, management and mitigation of the risks that it faces and the Directors regularly consider and review the approach taken to each of the Principal Risks and Uncertainties outlined above. When making strategic decisions the Directors take into account the likely consequences of these decisions in the long term.
b) Interests of employees
During the year the Company continued to provide employees with relevant information and to seek their views on matters of common concern through their representatives and through line managers. The Company places considerable value on the involvement of its employees and has continued to keep them informed on matters affecting them as employees and on the various factors affecting the performance of the Company.
c) The need to foster business relationships with customers, suppliers and others
The Company is committed to acting ethically and with integrity in all business dealings and relationships with key stakeholders, customers and suppliers. Strong business relationships are integral to the Company’s success and a large number of these relationships have been well-established over many years. The Company is committed to fair payment practices for all our valued suppliers.
d) Impact of business operations on the community and the environment
The Company is fully committed to doing whatever is possible to reduce its impact on the environment and it continues to reassess its actions and set appropriate objectives and targets that enable it to achieve its environmental goals and meet any legislative requirements both now and in the future. The Company considers selected charities to be key stakeholders and makes numerous donations to help support their work. It is also very conscious of its relationship with local communities and positive engagement is actively encouraged on matters where it is appropriate to do so.
e) Desirability of maintaining a reputation for high standards of business conduct
The Company maintains a reputation for high standards of business conduct through its values of integrity, continuous improvement, ethics and human dignity. The Company has established clear policies on diversity, modern slavery and compliance with tax laws, and these are these are publicly available to read on the corporate website.
f) The need to act fairly between members
The Company is wholly owned by a corporate shareholder and consequently the Directors do not consider this to be a key stakeholder relationship in the context of Section 172.
By order of the Board
 
P W Lugo                                        
Secretary
3 March 2022
a) Likely consequences of any decision in the long term
The Company’s long-term success is dependent on the effective identification, evaluation, management and mitigation of the risks that it faces and the Directors regularly consider and review the approach taken to each of the Principal Risks and Uncertainties outlined above. When making strategic decisions the Directors take into account the likely consequences of these decisions in the long term.
b) Interests of employees
During the year the Company continued to provide employees with relevant information and to seek their views on matters of common concern through their representatives and through line managers. The Company places considerable value on the involvement of its employees and has continued to keep them informed on matters affecting them as employees and on the various factors affecting the performance of the Company.
c) The need to foster business relationships with customers, suppliers and others
The Company is committed to acting ethically and with integrity in all business dealings and relationships with key stakeholders, customers and suppliers. Strong business relationships are integral to the Company’s success and a large number of these relationships have been well-established over many years. The Company is committed to fair payment practices for all our valued suppliers.
d) Impact of business operations on the community and the environment
The Company is fully committed to doing whatever is possible to reduce its impact on the environment and it continues to reassess its actions and set appropriate objectives and targets that enable it to achieve its environmental goals and meet any legislative requirements both now and in the future. The Company considers selected charities to be key stakeholders and makes numerous donations to help support their work. It is also very conscious of its relationship with local communities and positive engagement is actively encouraged on matters where it is appropriate to do so.
e) Desirability of maintaining a reputation for high standards of business conduct
The Company maintains a reputation for high standards of business conduct through its values of integrity, continuous improvement, ethics and human dignity. The Company has established clear policies on diversity, modern slavery and compliance with tax laws, and these are these are publicly available to read on the corporate website.
f) The need to act fairly between members
The Company is wholly owned by a corporate shareholder and consequently the Directors do not consider this to be a key stakeholder relationship in the context of Section 172.
By order of the Board
 
P W Lugo                                        
Secretary
3 March 2022
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