Corporate
Policies
Gender Pay Reporting – Summary
Managing gender pay reporting applies to employers subject to the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017.
The information must be published on both the employer’s website and on a designated government website at www.gov.uk/genderpaygap.
| Relevant employers must follow the rules in the regulations to calculate the following information: | April 2023 - Findings |
|---|---|
| Their mean gender pay gap | 17.70% |
| Their median gender pay gap | 9.90% |
| Their mean bonus gender pay gap | 73.47% |
| Their median bonus gender pay gap | 53.77% |
| Their proportion of males receiving a bonus payment | 38% |
| Their proportion of females receiving a bonus payment | 37% |
| Their proportion of males and females in each quartile pay band Upper Quartile | 58.4% of Males 41.6% of Females |
| Upper Middle Quartile | 52.2% of Males 47.8% of Females |
| Lower Middle Quartile | 40.7% of Males 59.3% of Females |
| Lower Quartile | 46.4% of Males 53.6% of Females |
Modern Slavery Statement
This statement is made pursuant to section 54(1) of the Modern Slavery Act 2015 and sets out the steps we have taken to ensure that our organisation as well as our supply chains are free from slavery and human trafficking during this financial year ending 31st December 2024.
World of Goodness Limited and subsides is committed to preventing slavery and human trafficking occurring in any of its corporate activities, as well as seeking to ensure that our supply chains are also free from such practices.
World of Goodness Limited is the UK’s largest distributor, importer and wholesaler of confectionery products. With our head office based in Loughborough, Leicestershire, with approximately 1000 employees.
Our Group comprises of:
- Hancock’s Wholesale Stores (serving more than 22,000 independent customers)
- Field Sales/Direct to store Teams (covering 36,000 independent customers)
- ECOM sites (have 55,000 users per week)
- National Account teams that cover all sales channels
Our organisation acknowledges that it sits within an industry that is known to be at risk of modern slavery and as such World of Goodness strives to continually improve in its efforts to mitigate against the risk of modern slavery in its operations and supply chains.
Supply Chains
Our significant suppliers are assessed, and they must confirm that they comply with legal obligations in relation to Modern Slavery and they are committed to ensuring that there is no Modern Slavery taking place in their business or in their supply chains.
They must also provide us with a copy of their anti-slavery policy. If they are found to be in breach of their policy or are found to have Modern Slavery or knowingly in their supply chains, we may terminate our contract with them and pursue legal action against them.
Company Policies
Our modern slavery strategy is supported by several key polices that we have in place throughout our organisation:
Modern Slavery Policy reflects our commitment implementing and enforcing effective procedures and controls to minimise the risks of human trafficking and other modern slavery practices infiltrating our business operations or supply chains, and to acting ethically and with integrity in all our business activities and relationships.
We ensure that our significant suppliers are aware of our Modern Slavery policy and take appropriate measures to ensure that our suppliers adhere to the same standards.
Whistleblowing Policy allows our colleagues to raise any concerns that they should have regarding any criminal or breaches in company policies.
Bullying and Harassment Policy explains our commitment to ensuring all colleagues, agency workers, contractors and job applicants work in an environment free from any type of harassment, discrimination and bullying. This also includes freedom from all forms of modern slavery.
Identifying the Risks and Prevention
As part of the organisations strategy to ensure modern slavery does not occur in our supply chain, we continually review the risk. This process identifies the high-risk areas in our supply chain. Where an area has been deemed as high risk the organisation then seeks further assurance thought an ethical audit programme.
Our distribution and production sites are required to have an SMETA audit. These audits are based on the ETI base code. The majority of our colleagues are employed on permanent contracts, which helps the organisation minimise the risk.
The organisation will also sue the following practises:
- Colleague Training
We provide training to all key Colleagues to ensure that they understand the risks of modern slavery and human trafficking infiltrating our business or supply chains and effectively operate our policies and procedures aimed at mitigating this risk. - Right to work Checks
These are conducted in accordance with legislation for all colleagues prior to them starting their employment with the company. All our agencies used are required to carry out appropriate background checks. - Colleague engagement survey
We annually run a colleague engagement survey to provide colleagues with the opportunity to provide feedback on a number of areas such as training and development, colleague benefits and communication. It is our intention to continually improve in order to create a positive environment for all colleagues.
We take any breach of our policies or allegations of labour abuse extremely seriously and encourage colleagues to speak up. Any concerns should be reported to our Anti-Slavery Officer, who will then investigate and report to our board of directors.
Future Plans
- Training: For colleagues to have a more in-depth training module to help increase their
awareness and understanding this risks. - Revise to broaden our current Modern Slavery Policy
- To continually risk assess our supply chain.
This statement has been approved by the HR Department.
Tax Strategy
Introduction
This tax strategy applies to World of Goodness UK Midco 1 Limited and its UK subsidiaries (the ‘Group’). Subsidiaries are listed in the Appendix to this document.
The financial period the tax strategy covers is the year to 31 December 2023.
The publication of this statement is regarded as satisfying the UK Group’s statutory obligation under Para 19(2), Schedule 19, Finance Act 2016).
Approach of the Group to risk management and governance arrangements in relation to UK taxation
The accountability for UK taxation sits with the Group’s Board of Directors, which is supported by the broader Executive Team; The Chief Financial Officer is a member of both.
The Chief Financial Officer is responsible for the day-to day management of the Group’s tax affairs, including tax risk. The Chief Financial Officer is named as the Senior Accounting Officer for the Group.
The Group manages risk through the use of professional advisors by outsourcing corporation tax compliance and seeking advice on all taxes when considered necessary. The Group has regular discussions with professional advisors to discuss potential risks and any effect of forthcoming tax compliance changes on the Group.
The Group is committed to a zero-tolerance policy to tax evasion and the facilitation of tax evasion.
Tax Planning in the UK
The Group may consider tax planning opportunities that minimise tax costs, but only where they are commercially driven and are aligned to its tax risk appetite; Any such opportunity would need to use legally available incentives and exemptions in line with tax legislation.
The Group does not undertake any tax planning where the sole aim is to reduce tax.
Approach to tax risk
The Group tries, where possible, to ensure timely compliance with relevant legislation and guidance to minimise the risk of additional tax liabilities, penalties and reputational damage.
The Group has a low risk appetite in relation to tax and seeks to only engage in tax planning that reflects its business and its commercial strategy. Whilst there are no defined risk parameters, consideration is given at a transactional level to financial/reputational risks and fiduciary requirements /internals code of conduct, and a decision will be made as to whether the tax risk associated with a business decision is of an acceptable level.
The Group appreciates that tax law and regulation can be open to interpretation and where any uncertainty exists, seeks advice from external advisors as appropriate.
Approach of the Group towards its dealings with HMRC
The Group engages with HMRC in an open and transparent manner and through its external professional tax agents. The Group is committed to meeting its compliance obligations in a timely and accurate manner. In the event non-compliance is identified, the Group would seek to make a voluntary disclosure to HMRC as soon as practicable.
Appendix: List of Subsidiary Companies
| Company Name | Registered Number |
|---|---|
| World of Goodness UK Midco 2 Ltd | 14769720 |
| World of Goodness Ltd | 14679021 |
| IB Group Ltd | 09990469 |
| IB Holdco Ltd | 08266592 |
| Hancocks Holdings Ltd | 02884267 |
| World of Sweets Group Ltd | 08267159 |
| World of Sweets (Distribution) Ltd | 04431556 |
| World of Sweets NI Ltd | NI677845 |
| World of Sweets (Hancocks) Ltd | 00868097 |
| World of Sweets (Bonds) Ltd | 03885014 |
| Bonds of London Ltd | 03894503 |
| Bonds Confectionery Ltd | 04176175 |
| World of Sweets Ltd | 10413237 |
| Hubpix Ltd | 11652302 |
| UK Sweets Ltd | 07399891 |
| Bobbys Foods Ltd | 01666996 |
| Bobbys Foods Midlands Ltd | 02109449 |
| Bobbys Foods South Wales Ltd | 01665621 |
| Bobbys Foods Southern Ltd | 02109525 |
| Bobbys Foods North East Ltd | 02152610 |
| Bobbys Foods North West Ltd | 02528998 |
| Bobbys Foods (South East) Ltd | 02574323 |
| Bobbys Foods North London Ltd | 02625569 |
| Bobbys Foods East Anglia Ltd | 02697888 |
| Bobbys Foods South West Ltd | 02761768 |
| Bobbys Foods Northern Ltd | 02761754 |
| Bobbys Foods Scotland Ltd | 02903661 |
| Bobbys Foods NI Ltd | NI677844 |