" Independent[Examiner's] Report on[the][Accounts] SIZ ARTHUZ THOMSON | CHARITABLE TRUIT | . 312272 2122005 petides[of][tons] terete seme me | hol22 >SAL[CHANCE] FOCA | Sa FELLOW[OF] AscuoaTion of CRATIFED (HALTEZED OUounNTANTS epHE[UNWER][ SITY] OFmin)[HAM] | DACAL SHO) LRM INGHAM ER-parion. # UR TH! [7 months to 31 July 2023 12 months 10 31 December 2022 Line [Number Toul Description Number Tol Ret of share Value of share Value shares € t shares i x “ wl a 3) 15) ©) a ® Insestments | neem) nase] 1883.646Sarasin wom 2 78,763] Lloyds matures 29/12/23 sas) 3 78,773{ Lloyds matures 28/03/24 + 3,005,183 Sub-Toul T9357 Deposit s 49,471|Bank Balance 209.083 6 49.471 sub-total 209,035 Total funds available at 31 July 2023/31 Dec 7 2,084,683/2022 an) Bank > R TH IN CHARITABLE TRU: 7 mos > 7 months to 12 months to > Line 31auy2m3 31 Dee 2022 Ref Description £ ‘ (0 2) 3) BG) > 1 {tocome Note | 68,646) 116.075 Les Expenditure 2 Sir Arthur Thomson Distinguished Visiting Professorship > 3 ion[Ash][Lecture] 1,248 4 Anhur Thomson bursaries for MBChB elective study 2,000) 2,000) 5 {Sir Arthur Thomson bursaries for BDS elective study 0 of 6 [Intercalating Bursaries for Medical and Dental students 45,000) 25,000) > 7 |Summer vacation projects for BMedSc UG #250) 8 [Summer vacation projects for MBChB & GEC UG 12.750) 4,000) 0 |Support for Prizes 2500 5,440) > 10 [Support for Social Events 9 24,017 > 11 [Chairs Action Note 2 3984 > 12 [Honoraria 1916 2,766) > 13 [BMRES #55 7.89% 14 [Conference Funding 1,130) 3,000) > 15 [Refteshments for prize giving ceremony 0 16 [Travel Expenses 155] 17 [High Achievement a1 > 18 [Sub-toul 78,208 52369 > 19 [Surplus 9.563] 33,706 Brought[BalanceJanuary. ul in 31 July 2023 > 12 months to 12 monthsto Line 31 July2023 31 Dec 2022 et Description © © > Mm 2) @ ®) 20 209.035] 225,339) Forward > 21 |SurplusDefiit 9.563 33,706 22 [Transfer fromito Investment 150,000) 50,010) 23 _|Batance available 31 July/December 209,035) an] 1 THOMSON 7 months to 12 months 10 31 duty 31 December ACCOUNTS 2023 £ Note | Income Bequest 26,789 Sarasin 26,498 30 Year Reunion Dirmer MBCHb BMedSc Income recid from JABBS Foundation Note 2 Action Medsoc Donation 3940 Refreshments for ATT Meetings 0 3.984 CHARITABLE A **R** THUR NOTEST UST Chains SIR TO **----- Start of picture text -----**
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## **SIR ARTHUR THOMSON CHARITABLE TRUST** ## **STATEMENT** **of Policy together with Regulations for the best governance of the Trust adopted by a resolution of the Trustees passed at their Special Meeting held on** **13th October 2023** **I CERTIFY this to be a true copy of the Statement (with its appendices) considered and adopted at a Special Meeting of the Trustees held on 13th October 2023** **Professor IW Booth CHAIRMAN** 1 ## **PRELIMINARY** ## A On the 11[th] October 1963 Sir Arthur Peregrine Thomson, Dean of the Faculty and School of Medicine of the University of Birmingham from 1951 to 1959 executed a Deed of Declaration of Trust dated [25[th] October 1963] (“the Trust Deed”) under the terms of which he established a Trust Fund as defined in the Trust Deed (“the Trust Fund”) of cash and investments the first Trustees being himself and his Solicitor, Sir Evan Ag. Norton. The Trust was to be known as `The Arthur Thomson Charitable Trust’. (The Sir was added at a later date.) A copy of the original Trust Deed is contained in Appendix V. ## B The Trustees (as defined in the Trust Deed) were to apply the income of the Trust Fund (also as defined in the Trust Deed) and such part of the capital of the Trust Fund as they should from time to time think fit “to or for such charitable institutions and charitable purposes and in such shares and proportions” as Sir Arthur might from time to time appoint and after his death as they should in their absolute discretion determine[1] . The Trustees were given full unrestricted powers of investment. ## C On 3[rd] December 1971 Sir Arthur made what was to be his last Will under which he bequeathed the residue of his Estate (“the Bequest”) to the University to be applied by it for such purposes in connection with the Medical School of the University as it should in its absolute discretion determine. “Medical School” is not defined in any of the documentation. ## D On 30[th] January 1977 Sir Arthur in the course of exercising a power given to him by the Trust Deed to appoint new and additional Trustees of the Trust took the opportunity of this supplemental deed to afford the Trustees guidance by an expression of his own charitable interests “in the hope that” they will continue my support thereof without detriment to the discretion given them”. He referred to the above bequest contained in his Will and placed upon record: “my inclination that the Arthur Thomson Charitable Trust shall (so far as permissible in law but so that no Trustee at any time thereafter shall be legally responsible personally for respecting this expression of my inclination) be devoted to the same charitable object. The said Trustees (who may in due > 1 Whilst the Trust Deed affords the Trustees the ability to apply the capital of the Trust Fund, the Trustees look to keep to a set of annual commitments which can be funded out of the income generated and thereby maintain the capital. 2 time elect to form the Trust into a registered charitable trust company) shall have the widest powers of interpreting what amounts to a proper application of trust income including the continuation of Bursaries and the Thirty Year Graduation Dinner as part of their discretion it being my belief that even a charitable fund should always be identified with people whose encouragement over periods of hard study must be a real consideration”. ## E Sir Arthur died on 15[th] July 1977. Since then, the Trust has been administered by a body of Trustees appointed under the powers contained in Section 36 Trustee Act 1925 (the ‘Trustees’). The Trustees for the time being which now numbers [eight] and now includes individuals in the employment of the University as well as a number of independent professionals which was hitherto not the case. ## F In accordance with Sir Arthur’s wishes the University of Birmingham has agreed that the application of the income of the Bequest should be delegated to the Trustees of his Trust but whilst the terms of the latter are not so confined in any way, the terms of the Bequest requires that it be applied for such purposes in connection with the Medical School of the University as it in its absolute discretion determines. In order to enhance the scale of financial provision available, the Trust interacts with other charities that have aims concordant with those of the Trust. ## G At the time the Trust was established, there was a physical building within the University of Birmingham called “The Medical School” on Vincent Drive (and Dental School building on the site of the Dental Hospital). The academic organisational structure was “The Faculty of Medicine & Dentistry” headed by the Dean, whose staff were responsible for the education (and to a degree the welfare) of approximately 100 (x5), (later 150 x 5) medical, and 60 (x 5) dental students. There were two main degree courses (MBChB and BDS). In addition, a handful of these medical and dental students spent an extra year studying an aspect of science in some depth for an “intercalated BSc’. It was these students and those premises that the Trust was originally intended to benefit. The approach to rewarding students was unashamedly elitist. The approach to improving premises was `icing on the cake’ and/or `promoting a handsome environment.’ The Faculty of Medicine and Dentistry has now been incorporated into the College of Medical and Dental Sciences. The office of Dean is incorporated into Birmingham Medical School, Institute of Clinical Sciences. 3 The undergraduate science programme (BMedSc) was established in 1992 and has recently amended its title to BSc (Biomedical Science) with a significant increase in intake and has received support from the Trust in the areas of vacation research projects and prizes for high achievement inter alia. H Although over the years the capital value and income of the Trust Fund have increased these have not matched the much greater graduate numbers and extension of courses giving rise to the need for the Trustees to review the policies needed to be followed in order to ensure the best application of the available resources within the guidance given by Sir Arthur and adapted to present day circumstances. The Trustees have a set of agreed Annual Commitments (a copy of which is included as Appendix VI which is reviewed annually by the Trustees to ensure agreed commitments can be maintained in line with the income generated and adapted to ensure appropriate application. I Moreover, the law relating to charities and their administration has been refined resulting in the desirability for the Trustees to develop a more regulatory framework for the governance of the Trust than can be found in the Trust Deed. ## **ACCORDINGLY, THE TRUSTEES IN EXERCISE OF THE POWERS AND DISCRETIONS AFFORDED TO THEM UNDER THE TERMS OF THAT DEED:** 1. ADOPT the Regulations contained in Appendix I. and 2. SET OUT in Appendix II the Policy and Strategy they propose to follow for the future in the application of the Trust Fund and (so far as applicable) the income derived from the Bequest until such time as circumstances require their modification. 4 ## **APPENDIX I** Regulations for the administration of the Sir Arthur Thomson Charitable Trust. - (i) **Appointment of Trustees and Amicus Curiae and Amica Curiae[2]** There must be at least three trustees and every trustee must be appointed by a resolution of the Trustees passed at a Special Meeting called under clause 8. - (ii) In selecting individuals for appointment as trustees, the Trustees will have regard to the skills, knowledge and experience needed for the effective administration of the Sir Arthur Thomson Charitable Trust (which is registered as a Charity No.23305) (the ‘ **Charity** ’). - (iii) The Trustees must keep a record of the name and address and the dates of appointment, re-appointment and retirement of each trustee. - (iv) The Trustees must make available to each new trustee, on his or her first appointment: - a) A copy of the statement of which these Regulations form part and any amendments made to it. - b) A copy of the Charity’s latest Report and Statement of Accounts - c) A copy of the Trust Deed; and - d) A copy of the Annual Commitments. - (v) See Appendix III for the Appointment of an Independent Trustee and the Appointment of the Amicus Curiae and Amica Curiae ## 1. **Eligibility for Trusteeship** - (i) No one shall be appointed as a Trustee: - (a) If he or she is under the age of 18 years. - (b) If he or she would at once be disqualified from office under the provisions of clause 3 below or - (ii) No one shall be entitled to act as a Trustee whether on appointment or on any re-appointment as Trustee until they have expressly acknowledged, in writing in whatever form the Trustees decide, their acceptance of the office of Trustee of the Charity. ## 2. **Termination of Trusteeship** A Trustee shall cease to hold office if he or she: - (i) Is disqualified from acting as a Trustee by virtue of Section 72 of the Charities Act 1993 or any statutory re-enactment or modification of that provision. - (ii) Becomes incapable by reason of mental disorder, illness or injury of managing his or her own affairs. - (iii) Is absent without the permission of the Trustees from all their meetings held within a period of a year and the Trustees resolve that his or her office be vacated. > 2 Amicus Curiae/Amica Curiae are not Trustees but are appointed to work/support the Trustees through them having a defined interest and being able to guide/support the Trustees and the ongoing work of the Trust. 5 ## 3. **Rotation of trustees** - (i) Trustees shall (subject as below) be appointed for terms of five years but shall be eligible for re-appointment at the conclusion of a term. - (ii) The Trustees shall at the first annual meeting after the adoption of these Regulations agree a basis for rotation which provides that at the following annual meeting a fifth of their number (or the nearest thereto) retire (but may offer themselves for re-election for a term of five years) and so on each year thereafter. - (iii) A new trustee appointed to fill a vacancy shall on first appointment serve for a term equal in length to that of the trustee whose place they have taken (if less than five years). - (iv) See Appendix III for rotation schedule. ## 4. **Vacancies** - If a vacancy occurs the Trustees must note the fact in the minutes of their next meeting. If there are fewer than three trustees, none of the powers or discretions shall be exercisable by the remaining trustees except the power to appoint new trustees. ## 5. **Ordinary Meetings** - (i) The Trustees must hold at least two Ordinary Meetings each year. - (ii) One such meeting each year shall be the Annual Meeting at which the Trustees will: - (a) Confirm the continued appointment of the Chair in their current three- year appointment **OR** instruct the Independent Trustee to canvass Trustees’ opinion for a re-appointment/new appointment (see Appendix III). (b)Approve the Report and Accounts of the Charity for the previous financial year. - (c) Sanction the issue of the Annual Return to the Charity Commission. - (d) Appoint an Auditor or Independent Examiner for the ensuing year. ## 6. **Called Meetings** The Trustees must arrange at each of their meetings the date, time and place of their next meeting, unless such arrangements have already been made. Ordinary Meetings may also be called at any time by the person elected to chair meetings of the Trustees or by any two trustees. In that case not less than ten days’ notice must be given to the other trustees. ## 7. **Special Meetings** A Special Meeting may be called at any time by the person elected to chair meetings of the Trustees or by any two trustees. Not less than four days clear notice must be given to the other Trustees of the matters to be discussed at the meeting. However, if those matters include the appointment of a trustee or a proposal to amend any of these Regulations not less than 21 days’ notice must be given. A special meeting may be called to take place immediately after or before any Ordinary Meeting. ## 8. **Chairing of meetings** 6 The Trustees shall (as provided in clause 6 above) elect one of their number to chair their meetings for a period of three years. The person elected shall always be eligible for re-election. If that person is not present within ten minutes after the time appointed for holding a meeting, or if no one has been elected, or if the person elected has ceased to be a trustee, the Trustees present must choose one of their number to chair the meeting. The person elected to chair meetings of the Trustees shall have no other additional functions or powers except those conferred by this Statement and the Regulations contained in this Appendix 1 or delegated to him or her by the Trustees. ## 9. **Delegation** - (i) In addition to their statutory powers, the Trustees may delegate any of their powers or functions to the Chairman or a committee of two or more trustees. A committee must act in accordance with any directions given by the Trustees. It must report its decisions and activities fully and promptly to the Trustees. It must not incur expenditure on behalf of the Charity except in accordance with a budget previously agreed by the Trustees. - (ii) The Trustees must exercise their powers jointly at properly convened meetings except where they have delegated the exercise of the powers (either under this provision or under any statutory provision). - (iii) The Trustees must consider from time to time whether the powers or functions which they have delegated should continue to be delegated. ## 10. **Duty of Care and extent of liability** When exercising any power (whether given to them by the Trust Deed or by statute or by any rule of law) in administering or managing the Charity each of the Trustees must use the level of care and skill that is reasonable in the circumstances considering any special knowledge or experience they have. Trustees who may be lawyers/accountants etc act in their personal capacity as Trustee and not in a professional/advisory capacity on behalf of their firm. ## 11. **Quorum** No business shall be conducted at a meeting of the Trustees unless at least one third of the total number of trustees at the time, or three trustees (whichever is the greater) are present throughout the meeting. ## 12. **Voting** At meetings decisions must be made by a majority of the Trustees present and voting on the question. The person chairing the meeting shall have a casting vote whether or not he or she has voted previously on the same question but no trustee in any other circumstances shall have more than one vote. ## 13. **Conflict of interest** 7 A Trustee must absent himself or herself from any discussions of the Trustees in which it is possible that a conflict will arise between his or her duty to act solely in the interests of the Charity and any personal interest (including but not limited to any personal financial interest). ## 14. **Minutes** The Trustees must keep minutes by such means as the Trustees decide of the proceedings at their meetings. In the minutes the Trustees must record their decisions and where appropriate the reasons for those decisions. The Trustees must approve the minutes in accordance with the procedures laid down in Regulations made under clause 16. ## 15. **General power to make Regulations** The Trustees may from time to time make other regulations for the management of the Charity and for the conduct of their business including: - (i) The calling of meetings. - (ii) Methods of making decisions in order to deal with cases of urgency when a meeting is impractical. - (iii) The deposit of money at a bank. - (iv) The custody of documents; and - (v) The safe keeping and authenticating of records. (If regulations made under this clause permit records of the Charity to be kept in electronic form and requires a trustee to sign the record, the regulations must specify a method of recording the signature that enables it to be properly authenticated). ## 16. **Accounts, Annual Reports and Annual Return** The Trustees will comply with their obligations under the Charities Acts 2011 and took effect from 14[th] March 2012: - (i) The keeping of accounting records for the Charity. - (ii) The preparation of annual statements of account for the Charity for the preceding financial year. - (iii) The auditing or independent examination of the statements of account of the Charity. - (iv) The transmission of the statements of account of the Charity to the Charity Commission. - (v) The preparation of an annual report and its transmission to the Charity Commission. - (vi) The preparation of an annual return and its transmission to the Charity Commission. ## 17. **Registered particulars** The Trustees will notify the Charity Commission promptly of any changes to the Charity’s entry on the Central Register of Charities. ## 18. **Bank Account** Any Bank or Building Society account in which any of the funds of the Charity are deposited must be operated by the Trustees and held in the name of the 8 Charity. Unless the regulations of the Trustees make other provisions, all cheques and orders for the payment of money from such an account shall be signed by at least two Trustees. For transactions involving online accounts, email agreement between two of the ‘authorised signatories’ - one of whom should normally be the Chair - is required. ## 19. **Trustees not to benefit financially from their trusteeship** Unless expressly authorised by the Charity Commission to do so a trustee may not sell services to the Charity or receive remuneration (other than permitted expenses as set out in Clause 22 below and as set out in more detail in Appendix IV) or any other financial benefit from the Charity. ## 20. **Secretary** The Trustees will appoint and may remunerate a secretary. ## 21. **Expenses** The Trustees may use the Charity’s funds to meet any necessary and reasonable expense which they incur while carrying out their responsibilities as Trustees of the Charity. Full details of the Trust’s Expenses Policy is set out in Appendix IV. ## 22. **Amendmen** t The Trustees will review these Regulations at intervals of three years with a view to amending or supplementing them as they deem necessary. Any such amendment or supplement shall be adopted only after consideration at a Special Meeting and the approval of a majority of the Trustees present. 9 ## **APPENDIX II** The policy and strategy to be adopted by the Trustees in applying the resources available to the Trust in pursuance of its charitable objects are contained in a set of Annual Commitments a copy of which is contained in Appendix VI and is reviewed annually. The Trustees also have and keep under regular review an Investment Policy Statement to provide a framework for the management of its investment assets. A copy is contained in Appendix VII and is reviewed on a 24 month basis to ensure continuing appropriateness. In summary the policy and strategy adopted by the Trustees shall be: ## **(1) Policy** 1. To maintain and not expend the capital of the Trust Fund. 2. To restrict the area of the Trust’s benefit to Medical, Dental and BSc (Biomedical Science|) students in the College of Medical and Dental Sciences. 3. To prioritise grant aid for the: Thirty Year Reunion Dinners and thereafter to apply the Trust’s income in identifying and recognising excellence. 4. To encourage and support outstanding individual `students’ endeavours in fields not necessarily medical which bring credit to the University’s Medical, Dental and Medical Science students usually at national or international level. 5. To support the provision of additional facilities only where these are not a proper charge on university funds. **IN IDENTIFYING, PARTICULAR, INDIVIDUAL CASES WORTHY OF SUPPORT, THE TRUSTEES WILL LOOK TO SENIOR MEMBERS OF THE COLLEGE OF MEDICAL AND DENTAL SCIENCES TO ATTEND THEIR MEETINGS BY INVITATION AND FOR THEIR ADVICE.** 10 ## **(2) Strategy** To establish and publicise a procedure for the receipt of grant applications which ensures that they are received with the necessary supporting detail to coincide so far as possible with the Ordinary Meetings of the Trustees. This is reflected and documented in the Annual Commitments Document a copy of which is contained in Appendix VI. 11 ## **APPENDIX III** **1(i) Appointment of the Chair** : The Trustees are consulted by the Independent Trustee (see below) and a consensus reached on a preferred candidate who should then be approached by the Independent Trustee to confirm their willingness to accept the post. The appointment of Chair, and their associated term as a Trustee, is for a period of three years with eligibility for re-appointment for further periods of three years. The Independent Trustee will act as chair, pro tem, for this item of business at the Annual General Meeting and if the preferred candidate(s) is/are current trustee(s) then the individual(s) would leave the room for the duration of the discussions. In the event of a vote being necessary the conditions of voting are addressed in the Appendix 1 clause 13. The Chair can NOT simultaneously act as the Independent Trustee. **(ii) Re-appointment of the Chair** : The Chair is eligible for re-election for a further period(s) of three years. Prior to any re-appointment, the Independent Trustee should obtain confirmation of the Chair’s wish to continue in post, undertake a review in consultation with Trustees and report to the Annual General Meeting. The Independent Trustee will act as Chair, pro tem, for this item of business at the Annual General Meeting and the incumbent Chair should withdraw for the duration of discussions. **(iii) Resignation of the Chair** : If the Chair wishes to retire, a new Chair will be appointed for three years coupled to a three-year term as a trustee. If the retiring Chair wishes to remain a trustee and there is a vacancy for such an appointment (eg the Chair- elect is an existing trustee), then, with the agreement of the Trustees, the initial trustee appointment would be for the residual term of the vacant trusteeship. **2. Appointment of the Independent Trustee** : The Chair will canvass the views of the Trustees for nominations and determine if an identified individual is willing to undertake the role. The outcome of the consultation will be reported to the Trustees at the next available meeting of the Trust. If there is no clear consensus view, then a vote should be taken (Appendix 1 clause 13). The initial appointment should be for a period equal in length to their Trusteeship and is eligible for five-year renewal(s). The posts of Independent Trustee and Chair can NOT be held simultaneously by the same individual. It is not envisaged that the Independent Trustee would necessarily act as a Deputy Chair or, in the absence of the Chair, automatically act as the Chair. 12 Action required in the absence of the Chair is addressed at Appendix 1 clause 9. **3. Appointment of an Amica and Amicus Curiae:** The Chair of the Trust should canvass the views of the Trustees on the information, expertise and insight provided by an amicus curiae and propose such an appointment at the Annual General Meeting. The appointment should be reviewed annually. **4. Rotation of appointment of Trustees** : To meet the requirements of Appendix 1 clause 4 with regard to Rotation of trustees. In relation to the annual retirement – with the option of re-election for a period of 5 five years - of approximately one fifth of the number of Trustees the following timetable has been agreed: Trustee: Proposed appointment dates: I. Booth (Chair) October 2022 – 2025 and 3 yearly thereafter A. Buchan October 2019 – 2023 and 5 yearly thereafter (resigned October 2023) P. Hutton October 2022 – 2024 and 5 yearly thereafter A. Kendall October 2020 – 2025 and 5 yearly thereafter D. Holmes October 2021 – 2026 and 5 yearly thereafter K. Warrington October 2022 – 2027 and 5 yearly thereafter M. Sheppard October 2022 – 2027 and 5 yearly thereafter C P Thomas October 2023 – 2028 and 5 yearly thereafter T Barrett October 2023 – 2028 and 5 yearly thereafter A Trustee appointed to fill a vacancy shall, on first appointment, serve a term equal in length to that of the Trustee whose place they have taken (see Appendix 1 clause 4(iii).) A Trustee will withdraw from the meeting during discussion of their individual appointment. 13 ## Appendix IV ## **Sir Arthur Thompson Charitable Trust Expenses Policy** ## **1. Policy** In accordance with Appendix 1 clause 22, the Trustees of the Trust may use the Charity’s funds to meet any necessary and reasonable expense which they incur in the course of carrying out their responsibilities as trustees. Charity Commission guidance (Document CC11) relating to Trustee expenses and payments recommends that Charities should have a written expenses policy setting out what is recoverable as an expense (and what is not) and how expenses should be claimed. This Trust Expenses Policy (‘ _**the Policy’**_ ) therefore looks to achieve that aim such that Trustee expenses are dealt with in a consistent way and that legitimate expenses are correctly reimbursed and recorded. The Trust is not, at this stage, proposing to make any general payments to serving Trustees (or look to compensate for loss of earnings in attending meetings/dealing with Trust matters etc) but will, subject to this Policy meet such reasonable expenses incurred by Trustees. The Trust reserves the right to amend this Policy at any time. ## **2. HM Revenue & Customs** This Policy has been produced in line with HMRC guidance covering expenses and benefits, more details of which can be found on their website http://www.hmrc.gov.uk/paye/exb-intro.htm. Throughout the Policy we have indicated specific HMRC guidance that is appropriate and should be considered when making any expense claim. ## **3. Receipts and Reimbursement Claims** This Policy dictates that all expense claims should be covered by a receipt. If you have no receipt then the Trust cannot reimburse you, except in exceptional circumstances. On the basis that the Trust is not registered for VAT, it is not necessary to provide detailed VAT receipts as the Trust is not able to recover VAT on goods and services which attract VAT. Receipts should however be dated and sufficiently detailed to be clear on the expense incurred and the amount needing to be reimbursed. Receipts should (along with any explanation) be submitted by email or formal letter within [a month] of expenses being incurred by a Trustee and the reimbursement will 14 be made by bank transfer have obtained approval of the authorised signatories in accordance with Appendix 1 clause 19. All such expenses should then be recorded such that they can be formalised into the Trust Annual Accounts. The Trust Annual Accounts will detail the total amount of Trustee expenses over any given year; the nature of those expenses and the number of Trustees who claimed. Expense claims for the Trust Chair need to be scrutinised and signed off by any two named Trustees before being approved and paid. ## **4. Train fares** The general policy is that all train travel should be standard class and that, where possible, Trustees should look to book Advanced Tickets to take advantage of cheaper advance train ticket prices. A receipt should be obtained when purchasing a ticket (as sometimes the tickets themselves may be swallowed by barriers). ## **5. Taxi fares** The general policy is that taxi fares will be reimbursed where there is no suitable, cheaper method of transport (e.g. bus & tubes), or your destination is not within reasonable walking distance. You must obtain from the driver a receipt showing the date and the cost of the journey. ## **6. Tube tickets** Tube tickets or journeys made on Oyster Card accounts (which are cheaper per journey) can be reimbursed. With an Oyster card account, you can print off a list of journeys and the associated cost which you can use as a receipt. ## **7. Bus tickets** The Trust will reimburse bus fares when used for Trust purposes – the ticket will be used as the receipt. ## **8. Air travel** All flights should be booked in economy class, and, in all instances, the cheapest possible fares should be obtained, having regard to journey time and practicalities. ## **9. Mileage** 15 Trustees using their own cars for Trust purposes will be reimbursed at the standard HMRC rates, as follows: ||First
10,000
business
milesinthe taxyear|Each business mile over
10,000inthe taxyear| |---|---|---| |Cars and vans|45p|25p| |Motorcycles|24p|24p| |Bicycles|20p|20p| The charging of electric vehicles whilst on Trust business will be reimbursed at the standard rate. Receipts should be provided. Mileage claims should clearly show where the journey commenced and finished. It is the responsibility of Trustees to ensure that private cars used for Trust purposes are covered by comprehensive insurance. If an accident occurs when on a Trust related trip, then any associated costs are the liability of the individual. ## **10. Parking** Parking will be reimbursed on production of a valid receipt. When paying for the car park, remember to obtain a receipt from the pay machine if it’s the kind of car park that involves an exit barrier. If a pay and display, the ticket given is sufficient. Remember – if you don’t have a receipt, you won’t be reimbursed. Many car parks, especially at railway stations, now use a cashless system that allows you to pay for car parks via mobile phone. Once you have registered, you will be able to go online and download invoices which can then be submitted as an expense receipt. ## **11. Hire cars/drivers** At the discretion of the Trust Chair, hire cars & drivers can be used if proved to be a cheaper and more convenient alternative to public transport. ## **12. Hotels** Hotels can be booked by Trustees, with the following limits for re-imbursement: |**Area**|**Maximum**
**cost**
**per**
**night**|**Cost**
**per**
**night**
**(including breakfast)**| |---|---|---| |London|£200|£215| |Allotherareas|£120|£135| 16 The Trust will only reimburse up to these amounts. You can choose somewhere more expensive but must pay the difference yourself. ## **13. Incidental hotel expenses** The Trust will not pay for any incidental expenses for an overnight stay, e.g, newspapers, mini-bar, private telephone calls. ## **14. Subsistence** The following will be reimbursed upon production of a valid receipt: The cost of a breakfast if travelling involves you leaving home before 6.30am The cost of an evening meal if travelling involves you returning home after 9pm The cost of a breakfast if staying overnight in a hotel The cost of an evening meal if staying overnight in a hotel The maximum amounts that can be reimbursed are shown below (all- inclusive of VAT) |Overnight Stay - Meal
Allowances|Evening meal|Breakfast| |---|---|---| |Within London|£40|£15| |All other areas|£25|£10| |Travel Subsistence|Maximum allowance| |---|---| |Breakfast (only if leaving home
before 6.30am)|£7| |Lunch and snacks|Will not normally be covered| |Evening Meal (only if returning home
after 9pm)|£25
(including
service)
Service
charges are normally covered by the
individual.| ## **15. Entertaining** Any Trust related entertaining (meals, drinks, or subsistence) related to and necessary for Trust purposes can be claimed subject to a valid receipt but if expenditure is expected to be large, say over £200, then pre-approval is required from the Trust Chair. ## **16. Provision for Cost of Childcare and Care of Dependants** 17 If a Trustee has to incur childcare costs or costs to provide care for dependants while needing to attend Trust business, then such costs can be reimbursed based on reasonable hourly rates to be expected for such care. ## **17. Miscellaneous/Exceptional Items** Other items may be considered legitimate expenses particularly having regard to attracting a more diverse range of Trustees of differing social and ethnic backgrounds and those with a disability. Such expenses might include communication support eg translating documents into Braille for a blind trustee, or into different languages; provision of alerting and listening devices, and other special aids for people with hearing impairment and/or expenses incurred with providing special transport, equipment or facilities for a Trustee with a physical disability. Such exceptional items should be raised first with the Trust Chair. 18 ## Appendix V Sir Arthur Thomson Charitable Trust Deed Appendix V.pdf 19 ## Appendix VI Sir Arthur Thomson Charitable Trust Annual Commitments Document College VER 24 for 2023-24.docx 20 ## Appendix VII ## Investment Policy Investment Policy - 2023.docx 21