The Board of Directors, in line with their duties under s172 of the Companies Act 2006, act in a way they consider, in good faith, would be most likely to promote the success of the Lancaster Leisure Group for the benefit of its members as a whole, and in doing so have regard to a range of matters when making decisions for the long term. Key decisions and matters that are of strategic importance to the various companies in the group are appropriately informed by s172 factors.
There is an open and transparent dialogue with our key stakeholders, we have been able to develop a clear understanding of their needs and monitor their impact on our strategic plans. As part of the Board’s decision-making process, the Board considers the potential impact of decisions on relevant stakeholders whilst also having regard to a number of broader factors, including the impact of the Company’s operations on the community and environment, responsible business practices and the likely consequences of decisions in the long term.
Illustrations of how s172 factors have been applied by the Board can be found throughout the recent Annual Reports and Accounts.
For example; continual investment into maintaining and where possible improvement of the high standards of accommodation offered throughout the group. There is also significant employee involvement throughout the businesses with regular meetings and information is exchanged on performance and strategy and training provided to assist the employees in delivering the high standards of customer service expected across the group. In addition, end of season ‘exit interviews’ are regularly held to obtain active feedback on the staff experience and identifying any areas of improvement. The group maintains very good relationships with its suppliers and uses a wide mix of national and local firms depending upon expertise, pricing, standard of delivery and reliability. As part of this key relationship, suppliers are all paid on a timely basis. With the large influx of visitors to the holiday parks and also hotel which are all in the North Devon region, it is important that the group maintains and promotes good relationships with the local community. The operational directors are resident within the local area and are actively involved within the community to ensure that the Lancaster group continues to have a positive impact on the area. As part of this, the environmental impact of the group's operations is frequently reviewed to ensure that best practices are being followed.