Our Values and Responsibilities
Each and everyone acts ethically in line with the company’s internal as well as external ethical standards. Our actions are led by speaking-up and respect.
Each and everyone leads change with flexibility and decisiveness as part of their ongoing journey of personal development.
Each and everyone drives new ideas and actions creating future growth and value.
Each and everyone acts in the best interests of the overall company rather their business unit or function to build one successful STADA.
Thornton & Ross Ltd - Modern Slavery Act 2015
Thornton & Ross Ltd – Modern Slavery Act 2015
This statement relates to actions taken during the financial year 1 January 2018 to 31st December 2018.
This statement details the actions taken by Thornton & Ross Ltd to understand the modern slavery risks related to its business and to ensure that as far as possible there is no human trafficking or slavery in its own business and in its supply chain.
The Company acknowledges its responsibilities under the Modern Slavery Act 2015 and seeks to ensure that conditions for its employees are of a good standard and that none of our practices infringe any legal or ethical requirements. The company takes a zero tolerance to slavery and human trafficking in its business activity and attempts, as far as is reasonably practical, to ensure that there is no slavery or human trafficking in the supply chain.
Thornton & Ross Ltd develop, manufacture and supply a wide and growing range of branded over-the-counter medicines, dermatological products, niche generic medicines and other pharmaceutical and household products. The Company was originally a family-owned business until it was acquired in 2013 by STADA Arzneimittel AG. The Company was founded in 1922 and is now one of the largest over-the-counter manufacturers in the UK.
Our approach is to combine good, responsive customer service and quality products in a working environment that encourages innovation.
Our business operates in the UK with the majority of our employees based at our site in Huddersfield or, for our sales force, operating around the UK. Our suppliers are, where possible, local businesses although due to the specialised nature of certain pharmaceutical products, ingredients and processes, we also buy from businesses around the world.
We have a team of professional buyers that manage our supply chain and maintain close working relationships with our suppliers.
Supply Chain Due Diligence
We purchase packaging materials, chemicals and pharmaceutical ingredients from third party suppliers. In some cases we buy in finished products for resale and we also outsource some packaging activity to contract manufacturers. Suppliers must complete and return an evaluation questionnaire before we do business with them or enter into a formal contract. Each supplier is required to provide information on labour conditions, compliance with national laws, hygiene facilities, discrimination and child labour.
As the company purchases from around the world, we monitor our suppliers and the conditions for their staff, both by assessing our suppliers regarding human trafficking and slavery in their operations, and by visiting their plants to observe their business practices and local conditions. All suppliers are categorised and reviewed on an on-going basis.
If concerns are raised, then we will review these with the supplier with the aim of raising awareness and making the required improvements. Ultimately if progress is not made we will cease to trade with that supplier.
We do not have any supply agreements with any organisations within the 10 countries with the highest prevalence of modern slavery, as identified by the Global Slavery index.
The Head of Human Resources has attended a Stronger Together training course on Tackling Modern Slavery in Businesses. In 2018 we rolled out Modern Slavery training to key personnel within the purchasing and management team.
This statement has been approved by the Managing Director of Thornton & Ross Ltd on behalf of the Company. The statement will be reviewed and, where necessary, updated on an annual basis.
Mr Roger Scarlett-Smith
Executive Vice President
Thornton & Ross Ltd
STADA Tax Statement
STADA Group UK
Group Tax Strategy and Policies
This paper sets out the tax strategy of STADA UK Holdings Limited and its UK subsidiary undertakings for the year ended 31 December 2018. In making this strategy available, the UK Group is fulfilling its responsibilities under schedule 19 Finance Act 2016. As the head company of the UK sub-group, this strategy will also apply to the following UK Group companies:
- STADA UK Holdings Ltd.
- Thornton & Ross Limited
- Zeroderma Limited
- LCM Limited
- Sundrops Limited
- Internis Pharmaceuticals Limited
- Genus Pharmaceuticals Holdings Ltd.
- Genus Pharmaceuticals Ltd.#
- Britannia Pharmaceuticals Ltd.
- Brituswip Limited (50% Joint Venture)
- Crosspharma Ltd.
- Slam Trading Limited
- LAS Trading Limited
- Socialites E-Commerce Limited
- Socialites Retail Limited
- Fresh Vape Electronics Cigarettes Limited
- Lowry Solutions Limited
- BSMW Limited
- Natures Aid Limited
In this strategy, references to ‘STADA’, ‘the Business’, ‘the Group’ or ‘the UK Group’ are to all these entities.
This tax strategy applies to all UK taxes applicable to the UK Group. The strategy has been reviewed by the Board of STADA UK Holdings as the parent of the UK subgroup and will be reviewed annually.
STADA is committed to full compliance with all statutory obligations and full disclosure to the UK tax authorities. The Group manages it tax affairs in line with its core values, its strong focus on corporate responsibility, and its commercial reputation and brand.
Risk management and governance arrangements
Tax risk management is fundamental to STADA. Tax matters are proactively managed through an overall internal governance framework, together with business controls and processes.
The Senior Accounting Officer is responsible for the management of the Group’s tax affairs, and is supported by the respective finance department. Tax compliance is monitored regularly as part of a regular internal reporting cycle.The Group’s internal structure is set up to ensure that The Board of Directors understand the importance of tax as a Group function, and how the risk associated with the delivery of a compliant tax strategy is managed. There is a regular dialogue between the Board and those individuals tasked with the operation of the tax function regarding the way the business manages its tax risk.Risk issues identified as part of this continuous cycle are reported to the Corporate Risk Management at the headquarters of STADA Group according to the Group’s risk procedures. Internal systems, processes and controls are reviewed regularly to ensure that they are robust and continue to be fit for purpose.Tax returns of the UK Group companies are prepared by external advisers and after an internal review by the respective Senior Accounting Officer submitted by the adviser to HMRC.
Professional advice is sought from suitably qualified external advisers where the tax treatment of a specific item or transaction is uncertain, with the extent of such advice determined by the Group’s assessment of the overall risk.The Group makes decisions in relation to tax which are consistent with the Group’s overall strategy of maximizing post-tax returns for its shareholders. The Group will not engage in aggressive tax planning, the sole purpose for which would be to obtain a UK tax advantage. However, the Group will consider undertaking a transaction in a way that gives rise to UK tax efficiencies providing that this is aligned to the Group’s commercial objectives and complies with the relevant UK tax legislation. The Group will not engage in tax efficiencies if the arrangements impact upon the Group’s reputation, corporate and social responsibilities, or future working relationship with HMRC.
Attitude towards risk
The level of risk that the Group accepts in relation to UK tax is consistent with its overall objective of achieving certainty in the Group’s tax affairs. At all times, the Group seeks to comply fully with its regulatory and other obligations, and to act in a way which upholds its core values and reputation as a responsible corporate citizen.
The Board sees compliance with tax legislation as key to managing tax risk, and understands the importance of tax in the wider context of business decisions. Processes have been put in place to ensure tax is considered as part of the overall decision-making process.The Board is conscious of the hugely negative publicity attracted by an aggressive and poorly managed approach to tax management, and sees strong internal processes and a good relationship with HMRC as key to managing this reputational risk.
Relationship with HM Revenue & Customs (HMRC)
The Group’s approach is to maintain a transparent, constructive and professional relationship with HMRC. This is achieved by ensuring that HMRC is kept aware of significant transactions and changes in the Group, and engaging with HMRC at an early stage to consider any tax issues arising.In relation to the Group’s tax compliance, the tax computations and returns submitted to HMRC disclose all relevant facts and identifies any issues where it considers that the tax treatment is uncertain.We recognize that there will be areas of differing legal interpretations between the Group and HMRC, and where this occurs, the Group will deliberately try to engage in proactive discussions with HMRC to resolve the matter as quickly as we can.
Gender Pay Gap
THORNTON & ROSS LIMITED’s Gender Pay Gap Data
In 2017, the UK Government brought in legislation which requires all organisations with more than 250 employees to publish a Gender Pay Gap report. The Gender Pay Gap is not the same as equal pay where men and women doing the same job or work of equal value must be paid the same. The Gender Pay Gap is a measure of the difference between men’s and women’s average earnings across an organisation.
Our 2018 figures area are as follows:
•Women’s hourly rate is 22.5% lower (mean) and 15.9% lower (median).
•Top salary quartile has 63.4% men and 36.6% women
•Upper middle salary quartile has 61.8% men and 38.2% women
•Lower middle salary quartile has 55.2% men and 44.8% women
•Lower salary quartile has 34.5% men and 65.5% women
•Women’s bonus pay is 63.8% lower (mean) and 14.4% lower (median)
•87.5% of men and 88.8% of women received bonus pay
Our 2017 figures area are as follows:
•Women’s hourly rate is 23.9% lower (mean) and 13.9% lower (median).
•Top salary quartile has 63.4% men and 36.6% women
•Upper middle salary quartile has 62.8% men and 37.2% women
•Lower middle salary quartile has 57.9% men and 42.1% women
•Lower salary quartile has 31% men and 69% women
•Women’s bonus pay is 69.5% lower (mean) and 15.9% lower (median)
•79.6% of men and 81.1% of women received bonus pay
Thornton and Ross Ltd is an environmentally conscious organisation accredited to ISO 14001:2015, which acknowledges the impact that our operations may potentially have on the environment.
The Company will minimise any impact on the environment by:
- Preventing pollution, reducing waste and ensuring, wherever practicable, that measures are
implemented to protect and preserve natural habitats, flora and fauna.
- Using all sources of energy and water efficiently.
- Considering the effects that our operations may have on the local community.
- Taking action to eliminate or reduce, as far as practicable, any potentially adverse environmental
- Promoting environmental awareness amongst our suppliers, contractors and partners by
implementation of operational procedures.
- Seeking to work in partnership with the community by behaving in a considerate and socially
- Ensuring effective and expedient incident control, investigation and reporting.
Managerial and supervisory staff have responsibilities for the implementation of the policy and must ensure that environmental issues are given adequate consideration in the planning and day-to-day supervision of all work. Thornton and Ross Ltd will fully comply with all legislation requirements; being aware of guidance, as issued by the Environment
Agency and other organisations as part of the company’s commitment to maintaining the high levels of environmental compliance. All employees and sub-contractors are expected to co-operate and assist in the implementation of this policy, whilst ensuring that their own works, so far as is reasonably practicable, are carried out without risk to themselves, others or the environment. This includes co-operating with management on any environment related matter. Thornton and Ross Ltd will take all practical steps to ensure that potential hazards and risks to the environment are identified and that appropriate preventive and control measures are implemented. The Directors have overall responsibility for all environmental matters.
The operation of this policy and the associated procedures will be monitored and reviewed on a regular basis to ensure that they remain current and applicable to the company’s activities, thereby demonstrating continual improvement. This policy has been endorsed by the Senior Management Group, which gives full support to its implementation and adherence.