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 2024. 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 2024. 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
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
By order of the Board
P W Lugo
Secretary
3 March 2022