RALPH FINCO LIMITED FOR THE PERIOD ENDED 31 DECEMBER 2021 

Directors' statement of compliance with duty to promote the success of the Company 

Section 172 (1) Statement 

The board of directors consider that both individually and together for the year ended 31 December 2021 they have acted in the way they consider, in good faith, would be the most likely to promote the success of the company for the benefit of its members as a whole and having regard to the matters set out in s172 (1)(a f) as below: 

a) The likely consequences of any decision in the long term; 

b) The interests of the company’s employees; 

c) The need to foster the company’s business relationships with suppliers, customers and others; 

d) The impact of the company’s operations on the community and the environment; 

e) The desirability of the company maintaining a reputation for high standards of business conduct; and 

f) The need to act fairly between members of the company. 

The directors make decisions by taking their legal duty into account and also the priorities and requirements of the stakeholders. The following paragraphs summarise how the Directors fulfil their duty to promote the success of the company. 

Long term decision making 

The directors have regard to the likely consequences of their decisions on the long term objectives and sustainability of the company, its stakeholders and the community whilst also preserving its values and culture. With this in mind, should a dividend be proposed it is important to confirm the availability of distributable reserves whilst also considering cash requirements for future investment and without prejudicing the position of other creditors. 

We are a business built on our standards and reputation and would not take a decision which would have a detrimental impact on this whether in the short term or the long term. We are dedicated to ensuring we maintain our culture whilst achieving our purpose. 

Our people and values 

Our employees are key to our success, so it is very important that they have the right attitude and the drive to create ideas and set high standards. All employees are encouraged to be honest and regular discussions are held with employees. The directors are involved in the day to day running of the business and talk to the employees which gives them the opportunity to hear their ideas and see first hand where any improvements can be made. 

The welfare of the team is a priority to ensure we deliver an excellent service to our customers and we are striving to ensure work life balance is fair for our employees. Therefore, we have implemented a flexible working policy and cycle to work scheme to all employees. 

All new employees get a New Starter Pack which documents our standards, equal opportunities, and training programme (among other things). All employees have easy access to our Operating Procedures and Codes of Conduct and understand the requirement for them to comply with the Company’s high standards of business conduct at all times. Any issues of non compliance with any of our policies can be dealt with in confidence. 

Business relationships 

We carry out our business with similar minded people and build on this to forge strong and lasting partnerships which is important for our long term success. We focus on ensuring our supply chain operates ethically and meets our standards by auditing suppliers regularly monitoring compliance with accreditations and standards to ensure that our suppliers are well informed and well intended. 

We pride ourselves on our collaborative approach to working with both long standing and new suppliers and customers. 

Community and environment 

We are proud to be part of the local and wider communities. It is our aim to create opportunities to recruit and develop local people and to understand the local issues that are important to the community and what we can do to support it. The Company also actively supports local charities and ensures all food waste is recycled. 

During the year an environmental working group has been responsible for changes to reduce the Company’s impact on the environment which included the installation of an electric car charging point and adopting a paperless approach where possible. In addition, we have chosen an energy provider that generates electricity using renewable energy sources and use of recycled paper. 

Shareholders 

The company aims to act with integrity and courtesy in all its business relationships and will consider all members and stakeholders when making decisions for the overall good of the company. 

Engagement with suppliers, customers and others 

Details of our engagement with suppliers, customers and other are included within our Section 172 reporting above.