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Godparents Anthroposophical Training Fund
Trustees’ Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors’ report of the charitable company for the year ended 31 July 2025.
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees: A Clark (resigned 1 November 2024) M GR Mehta NMC Nakamura L M Abrahams T M Mepham JB Nicol Secretary: A Clark (resigned 31 October 2024) N MC Nakamura (appointed | November 2024)
Structure, governance and management
Nature ofgoverning document
Godparents Anthroposophical Training Fund is a company limited by guarantee, governed by its memorandum and articles of association. It is a registered as a charity with the Charity Commission.
Recruitment and appointment of trustees
Trustees are elected by members of the charitable company attending the Annual General Meeting.
Organisational structure
We are very grateful to all our regular supporters. As our funds are restricted, we rely on donations and interest on the funds to cover the running costs and to be able to give grants.
The Godparents Anthroposophical Training Fund (GATF) was founded in 1968 as the Godparents Association and has existed in its current form since 1977, instigated by Mercury Provident Ltd. in conjunction with the Camphill Regional Economic Sphere Meetings for England and Wales. The charitable aims were reconstituted in 2004. Our Charity registration number is 1102158.
Major risks and management of those risks
Risk Management Strategy
There are ongoing reviews of the risks the charity may face.
The establishment of systems and procedures have been set up to mitigate the identified risks; and the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise.
Objectives and activities
Objects and aims
The objects of the charity are to advance the education of children and adults in accordance with the educational principles of the late Dr Rudolf Steiner.
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Godparents Anthroposophical Training Fund
Trustees’ Report
In furtherance of its objects the charity makes grants and interest ~~-~~ free loans to students to assist with their education.
Objectives, strategies and activities
The charity publishes guidelines detailing which types of education courses are eligible for grants and loans and conditions for providing funding. This is done to best target the use of resources. With a few exceptions all forms of Steiner education are eligible for funding.
Public benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Achievements and performance
The last year has seen an increase in activity for GATF with the receipt of a further tranche of the legacy from Suzanne and Conrad Mainzer for which we are most grateful. GATF are using these funds to offer targeted grant support to the anthroposophical education and artistic sectors. We have offered grants of just under £17,200 towards education projects and £31,200 towards artistic projects in the 2024 ~~-~~ 25 financial year. We also offered a further £1,200 funds towards the support of educational eurythmy from the existing Fiona von Heider bequest.
Processing the grant applications has resulted in a considerable increase in administration and the Trustees are grateful that our administrator was able to offer extra time to support this work.
We continued our core activities of offering loans to support anthroposophical trainings from our ‘Training Fund’ and offered just under £32,500 in loans to 18 students (14 from the UK, 3 from Europe and 1| from North America). The Children’s Fund saw an increase in applications due to the wider financial circumstances of the economy. We offered loans of just under £13,100 to support families whose unexpected personal circumstances resulted in challenges in paying their fees to recognised Waldorf Schools in the UK.
In the Autumn the Trustees received the resignation of our long time colleague Angela Clark after 23 years of service. The Trustees would like to express our grateful thanks for her many years of dedicated service.
Our ongoing administrator Charlotte Mander has moved on to a new position at the York Steiner School. The Trustees are most grateful for her work overseeing the administration of the Charity during this transitional period. We are pleased to have appointed Emily Maclean as new administrator from May 2025. Emily has a background in both Waldorf Education and artistic speech. Following a 2 month handover period, Emily is now running the office from Edinburgh which becomes our new trading address.
With the increase in activity offering grants in addition to our ongoing loans, the Trustees took the opportunity to review our administrative and financial procedures. We have instituted clear protocols for grant applications including independent vetting from third parties where applications exceed £5000. We have also taken the opportunity to update and rationalise our accounting and financial procedures moving to a new book ~~-k~~ eeping system and changing banking providers. This process is expected to be completed by the end of 2025.
To support the strategic work and vision of GATF, Trustees have asked our current chair Michael Mehta to take on a consultancy role to oversee this. As a result, Michael will resign his Trustee position in Autumn 2025. The Trustees have agreed to appoint Lynda Abrahams and Nicole Nakamura as joint chairs going forward. We are also actively recruiting further Trustees to support GATF and hope to appoint 2 further individuals by Spring 2026.
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Godparents Anthroposophical Training Fund
Trustees’ Report
Financial review
Policy on reserves
The policy of the trustees is to maintain adequate reserves to be able to fund all anticipated successful grant and loan applications as they arise. Reserves at the year end date amount to £1,701,796 (2024: £1,619,994), made up of net current assets, which the trustees believe to be satisfactory.
Grant making policy
It is the policy to only make grants in exceptional cases when a loan is not appropriate, and if funds allow.
Principalfunding sources
The charity relies on donations and legacies to fund its activities. Investment income provides a small contribution towards income.
Investment policy and objectives
Under the memorandum and articles of association the charity has the power to invest in any way the trustees wish. Apart from the programme related investments to students, the trustees have operated a policy of keeping available funds in interest bearing deposit accounts paying rates of interest in excess of the rate of inflation.
The trustees delegate a minimum of two trustees and the financial adviser to agree and oversee the investments. This will normally be the Chair and such other trustee(s) as appointed by the trustee group. In the absence of the Chair the trustees shall agree one of their members to act as a replacement for each meeting in question.
All investments must be ethical.
The trustees understand that in order to generate returns in excess of inflation it will be necessary to expose the portfolio to a medium risk.
The initial investment was £100,000 and may increase during the first year due to expected bequests. The trustees do not expect to use the money for at least 3 years but need to be able to call on it, if necessary, it is hoped this is a long ~~-~~ term investment.
This £100,000 is invested in a Nucleus Wrap Account which began on 28/7/2021, during the year ended 31/7/2022 an additional £150,000 has been invested.
£100,000 is invested in a fixed term deposit with Triodos Bank which began on 24/6/2019, ending 24/6/2024. This has been re ~~-~~ invested ending 24/6/2026.
A minimum of £100,000 will remain in the CAF Gold account for any immediate financial needs. As funds are restricted the funds can only be used for loans and grants to advance the education of children and adults in accordance with the educational principles of the late Dr Rudolf Steiner.
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Approved by the trustees of the charity on 08/12/25 .................... and signed on its behalf by:
Dattet....eeeeeeeceeeneeereeene 10/12/25
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8/12/25 seteseeseeeeeeee and Signed on their behalf by:
Godparents Anthroposophical Training Fund
Notes to the Financial Statements for the Year Ended 31 July 2025
1 Charity status
The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) ~~-~~ (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
Godparents Anthroposophical Training Fund meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Exemption from preparing a cash flow statement
The charity opted to adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Gift aid
Incoming resources from tax reclaims are included in the Statement of Financial Activities at the same time as the gift to which they relate.
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Godparents Anthroposophical Training Fund
Notes to the Financial Statements for the Year Ended 31 July 2025
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Grant provisions
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Governance costs
These include the costs attributable to the Charity's compliance with constitiutional and statutory requirements, including audit, strategic management and Trustees meeting and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £100.00 or more are initially recorded at cost.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Office equipment
Depreciation method and rate 15% reducing balance
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Godparents Anthroposophical Training Fund
Notes to the Financial Statements for the Year Ended 31 July 2025
Programme related investments
Programme related investments are made in furtherance of the charity's objects and any investment return is secondary to the charitable purpose supported by the investment. Such investments are included at their cost. Any loss or impairment arising from such investments is charged as part of charitable activities within the Statement of Financial Activities.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other shor ~~t-~~ term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non ~~-c~~ urrent liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interes ~~t-~~ bearing borrowings are initially recorded at fair value, net of transaction costs. Interes ~~t-~~ bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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