Section 172 Statement
Section 172 Statement
The success of our business depends on the trust and confidence of our stakeholders in the ability of the business to operate sustainably both now and in the longer term. As a family owned business the Group seeks to generate sustainable profits for shareholders and to do so the business fairly prioritises, at the forefront of our operations, the interests of our customers, employees, key suppliers and other identified stakeholders. The directors have acted in accordance with their legal duties, which include a duty to act in the way in which they consider, in good faith, would be most likely to promote the success of the business for the benefit of its shareholders, whilst having regard to all of our stakeholders and the matters set out in section 172(1) of the Companies Act 2006. The following provides details of how the Directors have engaged with, and how the business fully considers the interests of our stakeholders and the effect of doing so on the principal decisions taken by the business, during the financial year:
Stakeholder | Stakeholder’s key interests | Reason for engagement | Ways of engagement |
Customers | • Competitive prices
• Safety • Convenience • Choice • Customer service |
Understanding consumer behaviour and the changing trends in the marketplace allows Tout Ltd to develop the right offering to enhance the overall customer experience. | ● Customer feedback
● Social media engagement ● Promotions ● Loyalty schemes |
Employees | • Pay and Benefits
• Job satisfaction • Career development • Security • Well being |
We recognise that to be a great business we have to have great colleagues and that the business’ success is built upon the skills, hard work and continued loyalty of our staff. Well trained and motivated staff are the key to the success of the business. | ● Staff are highly motivated and well rewarded for success
● Pension schemes. ● Career progression opportunities and support for development ● Strong managerial capacity ● Expansion of in-house capacities in business- critical functions ● Communication between Board and workforce through regular executive team communications, both verbally and via email ● The Board consider workforce suggestions via employee surveys |
Suppliers
– Fuel
– Non Fuel |
• High sales volumes • Brand awareness/ protection • Long term relationships • Adherence to payment terms
• High sales volumes • Evolution of relationships • Adherence to payment terms • Promotional activity • Product trials |
Strong, cohesive relationships with the supply chain ensure security of supply, competitive pricing and promotional support.
Strong, cohesive relationships with the supply chain ensure security of supply, competitive pricing and promotional support. |
● Close working relationships with supplier through regular communications ● Designated board members with responsibility for procurement and managing policy and relationships with all retail suppliers to the Group ● Promotional and marketing support
|
The Environment | • Efficient water usage
• Minimising energy use • Using renewable energy, where possible • Minimising emissions • Sourcing sustainably • Utilising recyclable packaging where possible • Minimising packaging • Waste management • Recycling |
The directors recognise the importance of protecting the environment and the responsibility of ensuring that our operations do not adversely impact the local and. | ● Use of third party environmental consultants.
● Vehicle charging installations and solar. ● Equipment replacement policy to improve energy efficiency |
Landlords | • Timely payments of rents
Care and Maintenance of sites |
Collaborative approach required for successful operation of leasehold sites. | ● Strong business relationships and
● Timely and accurate payment Responsible custodianship of sites |
Government | • Taxation
• Planning • Carbon reduction • EV infrastructure |
Policies and regulatory change are prevalent in the business Tout Ltd engages in, strict adherence is critical for the success of the business.
Tout Ltd strategy is to be regarded as being a good corporate citizen and to pay its fair share of tax. |
● Use of third party expertise
● Strong relationships ● Reputation for integrity and honesty ● Energy efficiency programs |