Corporate Governance 
Corporate governance
The Board is committed to high standards of corporate governance so that the Company’s management procedures are transparent and clearly understood by those who work within the Company, and by those who invest in it.
The Board
The aim of the Board is to function at the head of the Company’s management structures, leading and controlling its activities and setting a strategy for enhancing shareholder value. Regular strategy meetings are held to review the Group’s forward planning - vital in a rapidly changing market and technology environment. The Board currently consists of four executive directors and three non-executive directors. The Non-executive directors whilst not independent by virtue of their length of service, do provide an independent challenge. The Company does not have a Nomination Committee as such; the Board collectively undertakes the functions of such a committee.
The Chairman and the Chief Executive Officer
The function of the CEO role is carried out by Rob Sheffield, and Chairman is Ken Ford. They each have a clear understanding as to the split of responsibilities between them, and they meet and communicate regularly so that each is aware of the ideas and actions of the others.
Internal control
The Board has overall responsibility for ensuring that the Group maintains systems and internal financial controls that provide them with reasonable assurance regarding the financial information both for use within the business and for external publication, and that the assets are safeguarded. This process has been in place for the full year under review and up to the date of approval of the annual report and financial statements. A Risk Analysis is updated and reviewed by the Board on a monthly basis.
Audit Committee
The Board collectively undertakes the functions of the Audit Committee which is chaired by Angus Watson. The terms of reference for the Audit Committee are to assist the Board in the discharge of its responsibilities for corporate governance, financial reporting and internal control. Its duties include maintaining an appropriate relationship with the Company’s auditors, keeping under review the scope and results of the audit and its effectiveness. The Audit Committee has sole responsibility for assessing the independence of the external auditors, BDO LLP. The committee has had due regard to the document published in November 2003 by the Institute of Chartered Accountants in England and Wales (ICAEW) “Reviewing Auditors Independence: guidance for audit committee”. Each year the committee undertakes to seek reassurance that the external auditors are independent.
Remuneration committee
This committee (Remcom), which meets at least twice a year, is chaired by Ken Ford; the non-exec directors undertake the function of Remcom. The Board has adopted a set of operational rules for Remcom.