Section 172(1) Statement

The Directors of the Company act in accordance with the set of duties as detailed in s172 of the UK Companies Act 2006 which is summarised as follows:

“A director of a company must act in the way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its shareholders as a whole and, in doing so have regard (amongst other matters) to:
– The likely consequences of any decisions in the long-term;
– The interests of the company’s employees;
– The need to foster the company’s business relationships with suppliers, customers and others;
– The impact of the company’s operations on the community and environment;
– The desirability of the company maintaining a reputation for high standards of business conduct; and
– The need to act fairly as between shareholders of the Company.”

The following paragraphs summarise how the Directors’ fulfil their duty to promote the success of the Company:

Employees
Our employees are vital to the success of the Company. As such, communication is an important tool in helping our employees understand the role that is required from them and how they can contribute to the success of the Company, as well as giving the opportunity for every employee to provide feedback. All employees are treated fairly and with respect and they are all actively encouraged to participate in work based teams and committees.

Business relationships
Customers and suppliers are the essence of what we do. We work closely with both groups developing new ideas and striving to deliver excellent customer service. We agree terms at the beginning of the relationship so each party has a clear understanding of how the relationship will work going forwards.

Community and environment
The Company sells a large quantity of its products into the UK and EU markets each year. We have a clear policy that these products must have been rigorously tested and have all the proper certification so that the products comply with all the laws and regulations, including but not limited to REACH Chemical legislation, for our business to business supplies. Supplying safe specialty chemical products helps to build the value of the Company’s brand.

Shareholders
The group shareholders, take an active part in the running of the group and provide strategic direction to the board of directors.