This statement is intended by the Board of Directors to set out how they have approached and met their responsibilities under s172(1)(a) to (f) of the Companies Act 2006 in the financial period ending 31 December 2022.
Stakeholders of the company include employees, shareholders, customers, suppliers, creditors of the business and the community in which it operates.
The Directors’, both individually and collectively, consider that they have acted in good faith to promote the success of the company for the benefit of its stakeholders as a whole (having regard to the matters set out in s172 of the Act) in the decisions taken during the period. In particular:
- To ensure the Board take account of the likely consequences of their decisions in the long term, they receive regular and timely information on all the key areas of the business including financial performance, operational matters, health & safety, environmental reports, risks and opportunities - all supported by Key Performance Indicators (KPIs). The company’s performance and progress is also reviewed regularly at Board and senior management meetings.
- The company’s employees are fundamental to the success of the business. The directors understand that it is critical to engage with and understand their views and to ensure that all employees’ interests are considered. To strengthen employee engagement, the directors’ promote and encourage all employees to raise any concerns or suggestions with senior management without hesitation. During the period, the company continued to invest in its departmental resources and I.T infrastructure to further support and enhance the working environment for its employees.
- The company’s customers and suppliers are also fundamental to the success of the business and as a leading manufacturer and supplier of Plastic Building and Plumbing systems in the UK, it is essential that the company maintains its reputation for high quality product and high standards of business conduct. The company strives to continually improve and strengthen its supply chain, products and customer service for the mutual benefit of all of its stakeholders.
- The directors take environmental matters into consideration as part of their decision-making process and aim to be a responsible member of the local and wider community, minimising the company’s impact on the environment wherever possible.
- The directors’ intentions are to behave responsibly toward all stakeholders and treat them fairly and equally, so that they all benefit from the long-term success of the company.
The directors’ have overall responsibility for determining the company’s purpose, values and strategy and for ensuring high standards of governance. The primary aim of the directors’ is to promote the long-term sustainable success of the company, generating value for stakeholders and contributing to the wider society. Throughout 2023, the Board will continue to review and challenge how the company can improve engagement with its employees and other stakeholders.