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Section 2 Trustees' and Strategic Report

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Section 2 Trustees' and Strategic Report Section 2 Trustees’ and strategic report The Trustees present their annual and strategic report together with the consolidated financial statements for the Institute and its subsidiary for the year ended 31 March 2021. The financial statements comply with the Charities Act 2011, the Companies Act 2006, and the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS102) effective 1 January 2019 (Charity SORP 2nd Edition). The Charity is registered and is a company limited by guarantee governed by its Articles of Association dated March 2015 and a Joint Venture Agreement (JVA) with the Founder Members dated March 2015. Company Number: 09512457 Charity Number: 1162533 65 Directors/Trustees Key management as at 31 March 2021 The Directors of the charitable company (the “Charity”), as registered at Companies Executive Team Senior Management Team House, are its Trustees for the purposes of Adrian Smith Donna Brown charitable law and throughout this report are Institute Director and Chief Executive Director of Academic Engagement collectively referred to as the Trustees. The Trustees serving during the year and since Jonathan Atkins Ian Carter the year end were as follows: Chief Operating Officer Director of IT and Information Security Howard Covington Christine Foster Allaine Cerwonka Chair Chief Collaboration Officer Director of International and Associate Director of ASG Nicola Blackwood-Bate Appointed 1 August 2020 Vanessa Forster General Counsel and Company Secretary Frank Kelly Nicolas Guernion Richard Kenway Director of Partnerships Kerry Kirwan Catherine Lawrence Appointed 28 April 2020 Director of Programme Management Vanessa Lawrence CB Sophie McIvor Appointed 1 August 2020 Director of Communications and Engagement Thomas Melham Carina Namih Martin O’Reilly Appointed 1 August 2020 Director of Research Engineering Hitesh Thakrar Clare Randall Appointed 1 August 2020 Director of People Neil Viner Patrick Wolfe 66 Programme Directors as at 31 March 2021 Registered Office Solicitors Mark Birkin The British Library Bates Wells Braithwaite Urban Analytics 96 Euston Road 10 Queen Street Place Mark Briers London, NW1 2DB London, EC4R 1BE Defence and Security Mills & Reeve Auditors Mark Girolami 100 Hills Road Data-Centric Engineering Moore Kingston Smith Cambridge, CB2 1PH LLP Chartered Accountants Chris Holmes Devonshire House Health and Medical Sciences 60 Goswell Road Anthony Lee London, EC1M 7AD Data Science at Scale Helen Margetts Bankers Public Policy Barclays Bank UK PLC Jonathan Rowe Leicester Data Science for Science and Humanities Leicestershire, LE87 2BB Lukasz Szpruch Finance and Economics Adrian Weller Artificial Intelligence Alan Wilson Special Projects 67 Structure, governance and management Our legal structure Purpose of the Institute and main activities The Alan Turing Institute was founded As the UK’s national institute for data science The Trustees confirm that they have paid in March 2015 as a registered Charity and artificial intelligence, the charitable due regard to the Public Benefit Guidance (1162533) and a company limited by objects of the Institute, as set out in its published by the Charity Commission, guarantee (09512457). The Institute is Articles of Association, is the furtherance of including the guidance “Public benefit: governed by its Articles of Association education for the public benefit, particularly running a charity (PB2)”, in undertaking their that were adopted on incorporation on 26 through research, knowledge exchange activities. March 2015 and a Joint Venture Agreement and public engagement in the fields of data with the Founder Members signed on 31 sciences. In 2017, as a result of a government March 2015 (together the “Constitutional recommendation, the Institute added documents”). The Constitutional documents artificial intelligence to its remit. The Institute set out the governance of the Institute as has the power to do anything that furthers its the responsibility of the Board of Trustees charitable objects. In particular, the Institute’s with some reserved matters to the Founder ambitions are to: Members. – Produce world-class research in the foundations of data science and artificial intelligence. – Have a transformative impact on the way that data and algorithms are used in the economy, in government and in society. – Educate and train data scientists. 68 Related parties Board composition and responsibilities Organisational management and The Institute’s Founder Members are the The Institute is governed by its Board of 11 responsibilities of the Board Engineering and Physical Sciences Research Trustees, six of whom have been appointed The Institute’s Board of Trustees is Council (EPSRC) and the Universities of by the six Founder Members and five of responsible for setting the aims and strategic Cambridge, Edinburgh, Oxford, Warwick whom are independently appointed Trustees. direction of the Institute, approving key and University College London (UCL). The The Board of Trustees has been established policies, monitoring risks, approving the Founder Members have entered into a Joint in accordance with the terms of the Joint annual budget and expenditure targets, and Venture Agreement which establishes, along Venture Agreement. The Board composition monitoring actual and forecast financial with the Articles, the basis on which the is determined as follows: results. Institute operates. – Each Founder Member may appoint one Trustees meet formally as a Board with the On 1 April 2018, the Institute entered into Trustee. Executive Team, Senior Management Team, 5-year partnership arrangements with eight – Founder Members may, by a unanimous and relevant Programme Directors up to five additional universities: Birmingham, Bristol, decision, select and appoint an times a year. In addition, Trustees normally Exeter, Leeds, Manchester, Newcastle, Independent Trustee who acts as Chair of attend at least two away days and undertake Queen Mary University of London, and the Board. Founder Members may also, further meetings as and when needed. Southampton. from time to time, remove and replace The Executive Team, Senior Management The Institute has a wholly owned such Independent Trustee by a unanimous Team and relevant Programme Directors subsidiary, Turing Innovations Limited decision. provide Trustees with regular reports on the Institute’s financial position, current activity, (company registration number 10015591). – The appointed Trustees may appoint Turing Innovations Limited has a minority organisational news, and significant issues further Independent Trustees such that, affecting the Institute. shareholding in Quaisr Limited, a private so far as possible, the total number of limited company (company registration Trustees on the Board at any particular The Executive Team, led by the Institute number 12704209). time will be an odd number. Director and supported by the Senior With effect from 1 April 2020, the Francis Management Team and the Programme – The Trustees appointed by the Founder Directors, is responsible for the day-to-day Crick Institute is deemed to be a related Members must always form a majority party. This is due to the shared associations management of the Institute’s operations of the Board and may from time to time and activities. The Institute Director is of Hitesh Thakrar (Trustee) and Stephane remove and replace Independent Trustees. Maikovsky (independent member of the responsible for appointing members of the Audit and Risk Committee). 69 Organisational management and responsibilities of the Board (cont.) Committees of the Board Executive Team. The Executive Team, Senior Management Team and the Programme The Board is supported by three formal Nomination Committee Directors are also responsible for Committees. Each Committee has processes implementing strategy and corporate policies in place for managing any conflicts of interest This Committee is responsible for all aspects and reporting on performance to the Board. that may arise. of the appointment of new non-Founder Member Trustees to the Board of Trustees. Audit and Risk Committee It also has responsibility for monitoring boardroom diversity and recommending This Committee is responsible for audit, appointments within the Audit and Risk finance and risk management as well as Committee and the Remuneration, EDI and reviewing the effectiveness of the Institute’s People Committee in consultation with the internal control framework and risk- chairs of those committees. management process and compliance with reporting requirements and reports to the Membership main Board on the same. It monitors the Howard Covington work of the external auditors and receives Chair and reviews audit reports. It monitors the full external audit process and resulting financial Nicola Blackwood-Bate statements, including overseeing the terms Appointed 26 January 2021 of appointment of the external auditors. Richard Kenway Membership Vanessa Lawrence CB Neil Viner Appointed 26 January 2021 Chair Thomas Melham Hitesh Thakrar Appointed 11 November 2020 Patrick Wolfe Stephane Maikovsky Independent member/non-Trustee 70 Remuneration, EDI and People Committee Advisory Groups Other groups: (Remuneration Committee pre-26 January Other advisory groups are set out below. Strategic Partners Board: This group is 2021) intended to advise the Board of Trustees The Joint Venture Agreement includes the on the content and translation of
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