Section 172(1) statement
The Board recognises that the long-term success of the Company and the Parent Group is strongly correlated to a positive interaction with all its stakeholders and actively encourage positive engagement to understand relevant stakeholder views on material issues which may impact the business, and helps to inform the Board’s decision making.
The following sets out a summary of our key stakeholders and explains how the Board, and our business, have approached and met their responsibilities under section 172 Companies Act 2006 and in particular how the directors have satisfied themselves that they have acted in a way which is most likely to promote the success of the Company for the benefit of its members as a whole and in doing so having regard for stakeholders interests.
Our employees are crucial to the delivery of our strategy and the future growth of the business. The directors empower colleagues throughout the business, encouraging each to solve problems at their own level.
Through a wide range of training, including apprenticeships and Management development programmes we are able to develop people so that we can promote from within and provide long term and fulfilled careers.
The directors also engage with employees in a number of formal and informal ways, including monthly management meetings and quarterly ‘all employee’ briefings which regularly set out Company performance and future strategy.
The directors have continued to support a company wellbeing strategy with the provision of free healthcare.
The directors engage regularly with our future, new and existing customers. We strive to develop enduring partnerships with our customers and drive continuous improvement and innovation into our operations to drive long term relationships. The directors take the time to understand the real and perceived needs of our customers, which they do through actively maintaining close relationships and engaging in regular customer feedback programmes. Improving efficiencies for our customers is at the heart of our operations.
The core of our operations is managing complex supply chain solutions for our customers and therefore it is essential to work with our suppliers in an ethical manner. We engage closely with suppliers, because we rely on them to provide us with products and services which meet our stringent quality and performance requirements, which in turn allows us to fulfil our commitments to our customers. This engagement will be at an operational level on a day to day basis to ensure that our expectations are met from a quality and delivery perspective or at a director level in relation for more strategic discussions. The Company has always maintained a culture of ensuring we pay suppliers in line with commercially agreed payment terms.
Long term agreements are entered into with key suppliers where appropriate and performance targets are regularly agreed with suppliers to align with our drive for continuous improvement.
The continuing long-term commitment of Pentland Group Limited, the company’s immediate parent company, favours long-term strategies.
The owners of the group focus on shareholder value both in terms of long-term investment return (the value of the business) and short-term investment return (dividend stream).
THE ACME FACILITIES GROUP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
– 3 –
Section 172(1) statement (continued)
The directors have regular engagement with the shareholders through both formal and informal meetings and the shareholders have two Non-Executive attendees at each Board meeting.
Community and environment
The directors understand our impact on the environment and have actively worked for many years to lessen our environmental impact. We’re proud to run a comprehensive recycling policy including WEEE disposal of ‘end of life’ equipment and all refrigerant gases are handled in accordance with latest F-Gas regulations. The
Company operates a low emission fleet of vehicles and have regularly invested in environmental initiatives throughout the business.
The directors regularly review strategic objectives to ensure environmental and social factors underpin its decision making as well as traditional financial factors.
The Board aims to maintain the highest standards of conduct with each of the regulatory bodies that it engages with. The Company does not adopt aggressive policies aimed to maximise short term returns, instead the directors support a principled and moral way of doing business. We publish a number of our fair and transparent policies on our website including zero tolerance to ethical matters such as bribery and corruption. We maintain a regular dialogue with government bodies and regulators, and actively participate in various industry working groups and trade representative bodies. This enables us to engage in discussions regarding planned regulatory changes, and to identify potential opportunities and risks for the business.
On behalf of the board
Mr C M Allen
Date: ……………………………………..17/07/2020 .