Section 172 Statement
Directors' statement of compliance with duty to promote the success of the Company
Directors of all UK companies must act in accordance with a set of general duties. These duties are detailed in section 172 of the Companies Act 2006. The directors, both individually and together, consider that they have acted in a 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 decision 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 the environment
- The desirability of the Company maintaining a reputation for high standards of business conduct
- The need to act fairly as between members of the Company
The Company has a rigorous process to ensure stakeholders are included in the decision-making process. The directors and employees are all included throughout the year with continuous communication and interactions.
Engagement with suppliers, customers and others
Engagement with the Company’s stakeholders is a key component in the directors aim to bring sustained long-term growth to the business and shareholder value. This is achieved by:
Efficient and open communication throughout the business by holding regular staff, Management Team, committee and departmental meetings, by issuing regular briefing bulletins, undertaking detailed job chats and the identification and provision of training to enhance skills and career development.
Maintaining close contact throughout the purchase, build and after sales processes, the provision of transparent sales details and an online home users’ portal and responding to and implementing changes as a result of customer feedback.
Engaging closely with suppliers via a detailed and transparent tender process, pre-start meetings and monthly progress meetings, using fair contract terms, paying promptly and providing safe working conditions.
Engagement with local communities throughout the planning and delivery of residential housing schemes that meet local demand, provide much needed affordable housing and are sympathetic to the local environment, whilst supporting local communities.