Section 172 statement
This statement contains an overview of how the directors have performed their duty to promote the success of the Company as set out in Section 172(1) of the UK's Companies Act 2006.
Section S172 responsibilities
The Board, in line with its duties under section 172 of the Companies Act 2006, must act in a way that gives due regard, among 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 between members of the company. Further information about how these duties have been applied can be found throughout the Ricardo Plc Annual Report And Accounts 2021 22, as set out in the following table:
Consequences of decisions in the long term | Chair's statement > Strategy | 7 |
Chief executive's review > creating value through our sharpened strategy, outlook | 9 | |
Our business model > aligned approach | 14 | |
Our strategy > aligned long term megatrends, creating value through focused objectives to deliver growth | 16 | |
Principal risks and uncertainties | 58 | |
Viability statement | 62 | |
Board activity FY 2021/22 | 104 | |
Interests of the company’s employees | Our people | 27 |
Chair's statement > Our people, culture and diversity | 7 | |
Chief executive's review > Investing in our people | 11 | |
Our business model > our values | 14 | |
Focused objectives to deliver growth > meaningful and fulfilling work | 17 | |
Company’s business relationships with suppliers, customers and others | Our business at a glance > Serving key customers | 5 |
Our business model > aligned approach | 14 | |
Focused objectives to deliver growth > trusted partner to our customers, achieving high growth in chosen markets | 17 | |
Impact of the company’s operations on the community and environment | Our vision | 1 |
Our business at a glance > who we are | 4 | |
Chair's statement > ESG | 8 | |
Chief executive's review > Sustainability is firmly built into our DNA | 11 | |
Innovation | 22 | |
Sustainability and ESG | 36 | |
Maintaining a reputation for high standards of business conduct | Our business model > aligned approach, our values, our capabilities, our operating model | 14 |
Act fairly between members of the company | Our business model > aligned approach, our values | 14 |
Chair's statement > Our people, culture and diversity | 7 | |
Chief executive's review > Investing in our people | 11 | |
Focused objectives to deliver growth > enabling meaningful and fulfilling work | 17 | |
Our people | 27 |
Further details on how the Company and Board engage with stakeholders are found on pages 101 to 103. Details of key decisions taken by the Board and how stakeholders were considered are provided on on page 104.
Ricardo Group Subsidiary Companies Section 172 statements
FY22 Ricardo Investments Limited - see pages 3-5
FY22 Ricardo UK Limited - see pages 9-12
FY22 Ricardo AEA Limited - see pages 6-10