Section 172(1) Companies Act 2006 Statement

The Directors of SARIA Limited consider both collectively and individually that they have acted in good faith, and in a manner most likely to create and promote the success of the company for the benefit of its members as a whole as defined by s172(1) Companies Act 2006 during the year ended 31st December 2023 supported by delivery of the long term business plan (“the plan”).

In developing and implementing the plan, the directors have considered the following key objectives as defined by s172 of the Companies Act:

1. a) The likely consequences of any decision in the long term
2. b) The interests of the company’s employees
3. c) The need to foster the company’s business relationships with suppliers, customers and others
4. d) The impact of the company’s operations on the community and the environment
5. e) The desirability of the company maintaining a reputation for high standards of business conduct, and
6. f) The need to act fairly between members of the company.

The implementation of the plan is underpinned by the introduction of the SARIA SE & Co. KG Group global policies on corporate compliance which set out our obligations in the following key areas:

1) Appropriate working conditions

The company respects human rights and employment law, without exception.

The board of directors’ respects human rights in strict accordance with the European Convention on Human Rights (ECHR). We reject all forms of forced or compulsory labour. Equally, we are opposed to all forms of child labour. The minimum age for admission to employment shall be as set out in the respective national legislation or collective bargaining agreements – provided these comply with the Minimum Age Convention adopted by the International Labour Organisation (ILO).

The company promotes equal opportunities and equal treatment of employees, rejecting all forms of discrimination on any ground whatsoever, e.g. race, ethnic origin, gender, religion, political or other opinion, disability, age or sexual identity. The company recruits and promotes employees solely on the basis of professional qualifications and performance.

2) Health and Safety

The promotion of high standards of health, safety and welfare at work is a prime objective for the company, its employees and business partners (such as contractors and other service providers).  The Board of Directors therefore affirm the company will do all that is reasonably practicable to protect its employees and other people who come into contact with the company or its products from personal injury or hazards to health, arising from any foreseeable risks.

3) Fair competition and Integrity in our business dealings

As the board of Directors, our intention is to behave responsibly and ensure that the management operate the business in a responsible and sustainable manner, both financially and environmentally.

Collectively we will continue to operate to the high standards of integrity expected of a business such as ours, and to employ a system of continuous improvement with training and development in line with our commitment to responsible behaviour.

When dealing with all partners, whether they are suppliers, customers or other stakeholders, we will ensure the relationship is always maintained in a professional and responsible manner.  A principle objective from our plan is the delivery of long-term successful returns for the company and our business partners.

4) Cooperation with the authorities

The company is committed to maintaining a constructive relationship with all the relevant authorities while safeguarding its own interests and rights.

5) Correct payment of taxes and duties

The company’s parent, SARIA Group, has a presence in many countries and is a stakeholder in the local economies in which it operates. The payment of taxes is essential for the stability and infrastructure of an economy, and therefore also has a direct impact on factors that are important for our success.

Declaring and paying taxes and duties in time and in accordance with legal requirements is a social responsibility that we take very seriously.

We aim to fulfil our tax obligations in an accurate and timely manner, to pay the appropriate amount due and always act in good faith in our dealings with the tax authorities in the countries in which we operate. To achieve this aim, we have put in place an internal control system that can prevent or detect material errors.

6) Processing and using our products in accordance with the law

Compliance with legal regulations on the production and use of our products is essential.

The SARIA Group specialises in the recycling of animal by- products and other materials of organic origin. These raw materials are often subject to statutory requirements governing both their processing and future applications.

All processing of materials by the company is carried out in strict compliance with this legislation, without any exceptions. Our company is careful to ensure that the products we supply to our customers are used solely in accordance with their legally defined specific purpose.

The plan involves a fundamental commitment to enhancing our environmental performance in key areas, including but not restricted to – emissions to air, water and land, carbon-intensity of our operations, reductions in our supply chain carbon impact alongside efficiency improvements.

As an example of the company’s commitment to reducing environmental impact, the largest processing site in the UK is now self-sufficient in electricity – electricity which previously was imported from the national grid.

The site uses an embedded anaerobic digestion (AD) plant to generate renewable energy for the use in human and animal food processing plants, the energy is created from previously unusable ‘waste’ streams from the processing plants. The AD plant now supplies 100% of the sites’ energy needs.  The only by-product from the processing plants is an organic fertiliser used by local farmers, the fertiliser is used to replace traditional fossil-fuel based materials.

7) Ethical sourcing of products

T.Quality take great pride in protecting fish stocks for future generations, managing the resource sustainably and taking steps to respect the habitats we purchase fish from.

The important aspect for us as a business is that the MSC certification formally demonstrates this higher commitment to sustainability. Our customers are demanding a product with the MSC brand to pass on to their customers seeking the trust mark of a sustainably sourced product.