Section 172 Statement

Section 172 Statement for year ended 28 February 2023

Engaging with stakeholders to deliver long term success is a key area of focus for the Board and all decisions take in to account the impact on stakeholders. Obviously, stakeholders are impacted by, or benefit from, decisions made by the Board in different ways. However, it is the Board’s priority to ensure that the Directors have acted both individually and collectively in the way that they consider, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole with regard to all its stakeholders and to the matters set out in paragraphs a-f of Section 172 of the Companies Act 2006

a) The Board annually approves the five-year plan and monitors its implementation through the year using detailed reports on operating and financial performance. In approving the strategy, the Directors also consider external factors such as competitor behaviour, the performance of the industry, as well as the evolving economic, political and market conditions.

b) The Directors understand the importance of the company’s employees to the long-term success of the business. The health and safety of the employees (and other stakeholders) remains its main priority and the Directors review the performance in this area at each board meeting. The company regularly communicates to its employees through presentations, internal company-wide emails and newsletters. The company provides ongoing training to employees and regular appraisals to further their career development.

c) The Board regularly reviews how the company maintains positive relationships with all of its stakeholders, including suppliers, customers and others. There has been significant investment in developing the supply chain to meet the demands of all customers. Key account managers are in place across the business to ensure relationships are being closely managed and they work hard to resolve any issues quickly as they arise.

d) We are committed to creating sustainable, long-term opportunities in our communities. In addition to aiming to become an employer of choice in our communities, we also seek to engage with the wider community in which we operate. The business recognises its responsibility to manage the environmental impacts of our activities, products, and services in all areas of our business and is committed to continual improvement of environmental systems and enhancing performance through ongoing review and the setting of objectives and targets which are an integral part of our management review. A charity and volunteering committee is in place to support with engagement.

e) The Directors take the reputation of the company seriously which is not limited to only operational and financial performance. The Board has approved several policies including anti-slavery and human trafficking and anti-bribery and corruption.

f) The Directors act fairly across all members and shareholders of the company and ensure that it remains a sustainable long-term business.

The company is required under Companies Act 2006 (Strategic Report and Directors’ Report) Regulation 2018 to disclose annual UK energy consumption and Greenhouse Gas (GHG) emissions.