CANTERBURY LIMITED

Registered number: 06930025 

The Companies (Miscellaneous Reporting) Regulations 2018 requires Canterbury Limited to publish a statement explaining how the directors have given due regard for the matters set out in section 172(1)(a) to (f) of the Companies Act 2006 while performing their duty to promote the success of the company for the benefit of its members as a whole (“section 172 statement”).  Below is the section 172 statement for Canterbury Limited captured by these regulations.  

Extract from the Strategic Report for the 52-week period ended 1 February 2025 

The following disclosure describes how the directors have approached and met their responsibilities under section 172 of the Companies Act 2006, and in particular how the directors have satisfied themselves that they have acted in a way which is most likely to promote the success of the company for the benefit of its members as a whole, and in doing so having regard for stakeholders interests, and forms the directors’ statement required under section 414CZA of the Companies Act 2006.

As a business we set high expectations for ourselves, our people and our business partners. We have presented below a summary of the key stakeholder groups, as well as the key decisions made during the year, with reference to how our key stakeholders were impacted and how the directors engaged with those stakeholders to promote the success of the company.  

-Pentland Group Limited

Pentland Group Limited is the company’s immediate parent undertaking and provides intercompany funding. Continued access to capital is vital to the long-term success of the company.  

Regular profit and cash flow forecasts are provided to Pentland Group Limited and the Group Treasury function, not only to advise on when funding is needed, but also to highlight sales and profit growth to ensure we are creating value for the ultimate shareholders. These are challenged and scrutinised as well as regular forecast update and outlook processes.  

-Employees 

Whilst all employee contracts are held by Pentland Brands Limited, a sister company within the group, the company recognises that a number of those employees represent the company in the conduct of its principal activity. Accordingly, we believe they are crucial to operating our business successfully and engage to ensure that we are fostering an environment in which they are happy to work.  

To help its people with the cost-of-living crisis, Pentland Brands Limited applied an annual salary increase for all employees during the period. Pentland uses a fair and consistent approach globally to determine salary increases within each country it operates in. When reviewing, it considered the predicted full period inflation forecasts for 2024 and also factored in other labour market insights with the aim to maintain salaries at a competitive level, while balancing affordability.  

For 2025, a pay increase, informed by local inflation levels was applied to each of the markets, to reflect the different economic environment in each.  

-Licensing Partners  

Sustaining long lasting relationships with our licensing partners is vital to the success of the company and regular meetings take place to ensure this continues. Directors, alongside key senior management, also regularly review terms in place and ensure that both the company and the partner can meet the demands placed on them.  

- Community 

Respect for the people and the environment has long been at the heart of our business, and we strive to make all our decisions in good conscience.  

Pentland Brands continues to enhance its brands by evaluating their impact, which is guided by its ambitious 100-1-0 positive business strategy. Pentland Brands is due to publish its annual Positive Business report (covering 2024 activities) later this year, which will share how it has worked towards achieving those ambitious goals. Once published, the report can be found of its website – pentlandbrands.com.  

You can read more about some of the actions Pentland Brands and its brands are taking across all areas at pentlandbrands.com/news/.

Our Principal Decisions

No principal decisions were made during the reporting period. 

 

 

 

PENTLAND BRANDS LIMITED

Registered number: 09820760 

Section 172 Statement

The Companies (Miscellaneous Reporting) Regulations 2018 requires Pentland Brands Limited to publish a statement explaining how the directors have given due regard for the matters set out in section 172(1)(a) to (f) of the Companies Act 2006 while performing their duty to promote the success of the company for the benefit of its members as a whole (“section 172 statement”).  Below is the section 172 statement for Pentland Brands Limited captured by these regulations.  

Extract from the Strategic Report for the 13-month period 31 January 2025 

 The following disclosure describes how the directors have approached and met their responsibilities under section 172 of the Companies Act 2006, and in particular how the directors have satisfied themselves that they have acted in a way which is most likely to promote the success of the company for the benefit of its members as a whole, and in doing so having regard for stakeholders interests, and forms the directors’ statement required under section 414 of the Companies Act 2006. 

As a business we set high expectations for ourselves, our employees, our business partners and our suppliers. We have presented below a summary of the key stakeholder groups, as well as the key decisions made during the year, with reference to how our key stakeholders were impacted and how the directors engaged with those stakeholders to promote the success of the company.  

- Pentland Group Limited 

Pentland Group Limited is the company’s immediate parent undertaking and provides intercompany funding. Continued access to capital is vital to the long-term success of the company.  

Regular profit and cash flow forecasts are provided to Pentland Group Limited and the Group Treasury function, not only to advise on when funding is needed, but also to highlight sales and profit growth to ensure we are creating value for the ultimate shareholders. These are challenged and scrutinised as well as regular forecast update and outlook processes.  

- Suppliers 

Our suppliers are fundamental to the timely provision and quality of services and for ensuring that, as a business, we meet the high standards of conduct that we set ourselves. We regularly assess the results of our Payment Practices Reporting to ensure that we are meeting supplier demands, as well as reviewing terms in place to ensure they are sustainable.  

- Customers 

In addition to providing services to fellow subsidiaries, the company earns revenue from the provision of warehousing services. Sustaining long-lasting relationships with customers who use those services is vital to the company. We regularly review contract terms and ensure that the company can meet customer demands, whilst maintaining our cash flow requirements. This requires a careful analysis of key metrics by our supply chain, who regularly engage with customers and relay important information to the directors, ensuring the company can meet its customers’ needs. 

- Employees 

We pride ourselves on the quality of our employees and believe they are crucial to operating our business successfully and growing our portfolio of brands. The 'People Policies’ section of the directors’ report highlights the way we regularly interact with our people on a day-to-day basis, providing them with the relevant training and information needed to perform their duties to the highest standards. 

To help our people with the cost-of-living crisis, we applied an annual salary increase for all employees during the year. Please see our ‘Principal Decisions’ below for more details.  

- Community 

Respect for the people and the environment has long been at the heart of our business, and we strive to make all our decisions in good conscience. To reflect the growing need to factor our social and environmental impact into all that we do, we are due to publish our annual Positive Business report (covering 2024 activities) later this year, which will share how we have worked towards achieving our ambitious 100-1-0 goals. Once published, the report can be found on our website -- pentlandbrands.com. 

2032 marks the 100-year anniversary of the Pentland business and our 100-1-0 positive business strategy sets out three major targets to be reached by 2032 – 1. to help 100 million consumers live positive, active, sustainable lifestyles; 2 to improve the lives of one million people in our communities; and 3. to be a net zero business by 2032. Please refer to the ‘Corporate and Social Responsibility’ section on pages 3 and 4 for more information. 

Our Principal Decisions 

- Cost of Living Crisis   

We recognise the significant challenges that many people are currently facing when it comes to cost-of living crisis, and we care about the impact this is having on individuals’ ability to pay bills and meet basic requirements. 

Pentland uses a fair and consistent approach globally to determine salary increases within each country it operates in. When reviewing the ASR % we considered the predicted full year inflation forecasts for 2024 and also factored in other labour market insights with the aim to maintain salaries at a competitive level, while balancing affordability.  

For 2025, a pay increase, informed by local inflation levels will be applied to each of our markets, to reflect the different economic environment in each. 

- Pentland Brands Headquarters Move 

In June 2024, we moved from our global HQ in Finchley, North London, to a new central London Hub located in Farringdon, Central London.  

The business has moved to a hybrid working model and the new offices have been configured to meet the company’s current and future business requirements.  

Strategically located a stone’s throw away from Farringdon station, the newly established Pentland Brands London Hub is based at one of London’s most accessible transport hubs and is a popular location for consumer brands.