Minutes of the Board of Directors of Caxton Trustee Limited meeting held 26 February 2015 (Part A). Attendees were Ann Lloyd, Richard Finlay, Mary Leadbeater, Charles Lister, Vijay Sharma, David Thomas, Howard Thomas, Jan Barlow, Joyce Materego, June Omadoye and Victoria Prouse. Includes discussion of budget scenarios and reductions of 10% and 20% compared with 2014/15 funding for the Caxton Foundation. It was noted that the balance between the budgets for NWC grants and office grants had changed compared to 2014/15 because of the increased number of grants that can now be processed through the office. Document mentions a serious allegation from the Chief Executive of the Haemophilia Society.