DIRECTORS’ STATEMENT OF COMPLIANCE WITH A DUTY TO PROMOTE THE SUCCESS OF THE COMPANY
The board of directors of CRM Trading Limited consider that both individually and together for the year ended 31 May 2021 they have acted in accordance with their duties codified in law, which include their duty to act in a way which they consider, in good faith, would most likely promote the success of the Company for the benefit of the members as a whole, having regards to all stakeholders and matters set out in s172(1) of the Companies Act 2016, including:
- 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 the priorities and requirements of the stakeholders.
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, when a dividend is 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 employees are key so it is very important that they have the right attitude and the drive to create ideas,obtain and sustain high standards. All employees are encouraged to be honest and regular discussions are held with employees which gives them the opportunity to air their ideas and the directors can then see first-hand where any improvements can be made.
We carry out our business with similar-minded and reputable people, and build on this to forge strong and lasting partnerships which is important for our long-term success.
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.
The company aims to act with integrity in all of its business relationships and will consider all members and stakeholders when making decisions for the overall good of the company in both the short and long term.