Corporate governance

The Board recognises the importance of a sound system of corporate governance and internal control so seeks to apply the principles set out in the Corporate Governance Code for Small and Mid-Size Quoted Companies 2013, published by the Quoted Companies Alliance, as far as they are relevant to the Company and its context. It should be noted that the Group is not required to comply with this Code but it is nonetheless the Board’s intention to disclose and report on the corporate governance structures and processes that are operated by the Group and to develop further to meet the standards appropriate for the Company.

A detailed review of the performance and financial position of the Group is included in its annual report. The board uses the financial statements and the report of the directors to present a balanced and understandable assessment of the Group's position and prospects.

Directors' responsibilities

Board committees

Risk management