Annual Report & Accounts 2026
15
STRATEGIC REPORT
SECTION 172 COMPANIES ACT STATEMENT
The statements below address the reporting requirements of the Board under Section 172 of the Companies Act and the Companies (Miscellaneous Reporting) Regulations 2018. The Directors of the Company have a duty to promote the success of the Company. A Director of the Company must act in the way they consider, in good faith, to promote the success of the Company for the benefit of its members, and in doing so have regard (amongst other matters) to:
• the likely consequences of any decision in the long term;
• the interests of the Company’s employees;
• the need to foster the Company’s operations on the community and the environment;
• the desirability of the Company to maintain a reputation for high standards of business conduct; and
• the need to act fairly between members and the Company.
The Directors are committed to developing and maintaining a governance framework that is appropriate to the business and supports effective decision making coupled with robust oversight of risks and internal controls.
Keystone has a very clear organic growth strategy aimed to ensure delivery of long-term sustainable growth and increasing stakeholder value and all significant business decisions consider both their short and long-term impact on this strategy. Fundamental to the success of this strategy is the continued recruitment and retention of high-calibre lawyers, who join Keystone to take advantage of the many benefits that we offer and build their practice to deliver work of the highest professional standards to our clients. A key tenet of our success is the ongoing investment we make in nurturing the community and culture of the business. This open, engaging and collegiate culture both attracts and retains lawyers whilst ensuring that all who work at Keystone feel a part of something special. Keystone’s primary asset is its people, be it the central office staff, the lawyers, the clients or third-party suppliers with whom we work (such as counsel, experts and other professionals). As a business, we dedicate substantial time, effort and resources in working to develop and maintain strong relationships from which all parties benefit. As a people business, the impact of business decisions on our principal stakeholders is always central to the decision-making process. Law firms generally have a low environmental impact and Keystone’s model further reduces this by having an extremely small office footprint and using technology across the business to facilitate our lawyers working remotely and so having no need to commute to work. The Directors treat all members of the Group fairly and consistently, as required by both professional standards and in compliance with various pieces of legislation. We provide information to all shareholders and other third parties on an equal basis.
Below are some examples of how the Directors have had regard to the matters set out in section 172 in decisions made when discharging their duties:
APPROVAL OF ANNUAL BUDGET
The Board has reviewed its plans for the coming year, considering the financial and operational implications these have. These plans continue to focus on driving the continued growth of the lawyer base whilst ensuring that, through the delivery of market leading support services, we facilitate the growth and development of those lawyers who are already with the Group. This approach is intended to deliver long-term sustainable growth which is beneficial to all stakeholders.
STRATEGIC REPORT
SECTION 172 COMPANIES ACT STATEMENT
The statements below address the reporting requirements of the Board under Section 172 of the Companies Act and the Companies (Miscellaneous Reporting) Regulations 2018. The Directors of the Company have a duty to promote the success of the Company. A Director of the Company must act in the way they consider, in good faith, to promote the success of the Company for the benefit of its members, and in doing so have regard (amongst other matters) to:
• the likely consequences of any decision in the long term;
• the interests of the Company’s employees;
• the need to foster the Company’s operations on the community and the environment;
• the desirability of the Company to maintain a reputation for high standards of business conduct; and
• the need to act fairly between members and the Company.
The Directors are committed to developing and maintaining a governance framework that is appropriate to the business and supports effective decision making coupled with robust oversight of risks and internal controls.
Keystone has a very clear organic growth strategy aimed to ensure delivery of long-term sustainable growth and increasing stakeholder value and all significant business decisions consider both their short and long-term impact on this strategy. Fundamental to the success of this strategy is the continued recruitment and retention of high-calibre lawyers, who join Keystone to take advantage of the many benefits that we offer and build their practice to deliver work of the highest professional standards to our clients. A key tenet of our success is the ongoing investment we make in nurturing the community and culture of the business. This open, engaging and collegiate culture both attracts and retains lawyers whilst ensuring that all who work at Keystone feel a part of something special. Keystone’s primary asset is its people, be it the central office staff, the lawyers, the clients or third-party suppliers with whom we work (such as counsel, experts and other professionals). As a business, we dedicate substantial time, effort and resources in working to develop and maintain strong relationships from which all parties benefit. As a people business, the impact of business decisions on our principal stakeholders is always central to the decision-making process. Law firms generally have a low environmental impact and Keystone’s model further reduces this by having an extremely small office footprint and using technology across the business to facilitate our lawyers working remotely and so having no need to commute to work. The Directors treat all members of the Group fairly and consistently, as required by both professional standards and in compliance with various pieces of legislation. We provide information to all shareholders and other third parties on an equal basis.
Below are some examples of how the Directors have had regard to the matters set out in section 172 in decisions made when discharging their duties:
APPROVAL OF ANNUAL BUDGET
The Board has reviewed its plans for the coming year, considering the financial and operational implications these have. These plans continue to focus on driving the continued growth of the lawyer base whilst ensuring that, through the delivery of market leading support services, we facilitate the growth and development of those lawyers who are already with the Group. This approach is intended to deliver long-term sustainable growth which is beneficial to all stakeholders.