Lakefield Holdings Limited

Statement by the Directors in performance of their statutory duties in accordance with s172 (1) Companies Act 2006

The Board of Directors consider, both individually and together, that they have acted in the way they consider, in good faith, would be most likely to promote the success of the Company and its Group for the benefit of its members as a whole (having regard to the stakeholders and matters set out in s172 (1) (a-f) of the Act) in the decisions taken during the year ended 31 December 2019.

The Company has a sole shareholder closely involved in the day to day management of the Group businesses and actively participating in all strategic decision making.

  • In the long term, the Company aims to run sustainably profitable businesses with high levels of product quality and customer satisfaction. These businesses preferably own their brands but may distribute brands on behalf of third parties. In order to safeguard these long term aims, significant investment is required in key third party relationships and the maintenance of profitable owned brand equity and distinguishable intellectual property. All decision making at Board level is informed by the above priorities.
  • We have many long serving employees throughout our Group businesses. It is our employees who fundamentally understand the day to day needs of our customers and suppliers. The Board engages with the senior management teams at all of the businesses, often on a daily basis, and visits the businesses frequently, usually at least monthly. Board members and senior management teams engage with employees at all levels, facilitated by the relative size of the individual businesses, relationships built up over many years and by the fact that many senior managers have been promoted within their organisations. As a result, there is a common awareness of goals, performance and plans.
  • The Group has a great many business relationships with customers and suppliers. Customers may be trade customers or retail store or online consumers. There is a high frequency of key trade customer contact. Consumer feedback is obtained through instore or online reviews and from our customer service departments. There is a high frequency of key supplier contact which includes supplier visits, the agreement of suitably compliant supply contracts, quality control inspections during manufacture and factory audits. As a result, the businesses have fostered long standing and commercial relationships with our customers and across our markets and supply chains.
  • Where relevant the Board takes account of the impact of the Group's operations on the community and environment. All of the management teams are keenly aware of customer feedback on the environment and aim to make products as sustainable and recyclable as possible, for example through compliance with ethical trading guidelines in the clothing industry, through retail schemes encouraging customers to recycle previous purchases or by using environmentally friendly and recyclable packaging.
  • As the Board of Directors, our intention is to behave responsibly and ensure that management runs the business in a responsible manner, operating within the high standards of business conduct and good governance expected for a business such as ours. This is critical to the success of the businesses, for example where our increasingly discerning and well informed retail customers are concerned in matters such as data protection or sustainability.

H Young Holdings PLC

Statement by the Directors in performance of their statutory duties in accordance with s172 (1) Companies Act 2006

The Board of Directors consider, both individually and together, that they have acted in the way they consider, in good faith, would be most likely to promote the success of the Company and its Group for the benefit of its members as a whole (having regard to the stakeholders and matters set out in s172 (1) (a-f) of the Act) in the decisions taken during the year ended 31 December 2019.

The Company has a sole ultimate shareholder closely involved in the day to day management of the Group businesses and actively participating in all strategic decision making.

  • In the long term, the Company aims to run sustainably profitable businesses with high levels of product quality and customer satisfaction. These businesses preferably own their brands but may distribute brands on behalf of third parties. In order to safeguard these long term aims, significant investment is required in key third party relationships and the maintenance of profitable owned brand equity and distinguishable intellectual property. All decision making at Board level is informed by the above priorities.
  • We have many long serving employees throughout our Group businesses. It is our employees who fundamentally understand the day to day needs of our customers and suppliers. The Board engages with the senior management teams at all of the businesses, often on a daily basis, and visits the businesses frequently, usually at least monthly. Board members and senior management teams engage with employees at all levels, facilitated by the relative size of the individual businesses, relationships built up over many years and by the fact that many senior managers have been promoted within their organisations. As a result, there is a common awareness of goals, performance and plans.
  • The Group has a great many business relationships with customers and suppliers. Customers may be trade customers or retail store or online consumers. There is a high frequency of key trade customer contact. Consumer feedback is obtained through instore or online reviews and from our customer service departments. There is a high frequency of key supplier contact which includes supplier visits, the agreement of suitably compliant supply contracts, quality control inspections during manufacture and factory audits. As a result, the businesses have fostered long standing and commercial relationships with our customers and across our markets and supply chains.
  • Where relevant the Board takes account of the impact of the Group's operations on the community and environment. All of the management teams are keenly aware of customer feedback on the environment and aim to make products as sustainable and recyclable as possible, for example through compliance with ethical trading guidelines in the clothing industry, through retail schemes encouraging customers to recycle previous purchases or by using environmentally friendly and recyclable packaging.
  • As the Board of Directors, our intention is to behave responsibly and ensure that management runs the business in a responsible manner, operating within the high standards of business conduct and good governance expected for a business such as ours. This is critical to the success of the businesses, for example where our increasingly discerning and well informed retail customers are concerned in matters such as data protection or sustainability.

H Young (Operations) Limited

Statement by the Directors in performance of their statutory duties in accordance with s172 (1) Companies Act 2006

The Board of Directors consider, both individually and together, that they have acted in the way they consider, in good faith, would be most likely to promote the success of the Company for the benefit of its members as a whole (having regard to the stakeholders and matters set out in s172 (1) (a-f) of the Act) in the decisions taken during the year ended 31 December 2019.

The Company has a sole shareholder closely involved in the day to day management of the Company and actively participating in all strategic decision making.

  • In the long term, the Company aims to run sustainably profitable businesses with high levels of product quality and customer satisfaction. These businesses preferably own their brands but may distribute brands on behalf of third parties. In order to safeguard these long term aims, significant investment is required in key third party relationships and the maintenance of profitable owned brand equity and distinguishable intellectual property. All decision making at Board level is informed by the above priorities.
  • We have many long serving employees throughout our businesses. It is our employees who fundamentally understand the day to day needs of our customers and suppliers. The Board engages with the senior management teams at all of the businesses, often on a daily basis, and visits the businesses frequently, usually at least monthly. Board members and senior management teams engage with employees at all levels, facilitated by the relative size of the individual businesses, relationships built up over many years and by the fact that many senior managers have been promoted within their organisations. As a result, there is a common awareness of goals, performance and plans
  • The Company has a great many business relationships with customers and suppliers. Customers may be trade customers or retail store or online consumers. There is a high frequency of key trade customer contact. Consumer feedback is obtained instore or from our customer service departments. There is a high frequency of key supplier contact which includes supplier visits, the agreement of suitably compliant supply contracts, quality control inspections during manufacture and factory audits. As a result, the businesses have fostered long standing and commercial relationships with our customers and across our markets and supply chains.
  • Where relevant the Board takes account of the impact of the Company's operations on the community and environment. All of the management teams are keenly aware of customer feedback on the environment and aim to make products as sustainable and recyclable as possible, for example by using environmentally friendly and recyclable packaging.
  • As the Board of Directors, our intention is to behave responsibly and ensure that management runs the business in a responsible manner, operating within the high standards of business conduct and good governance expected for a business such as ours.