HAS Trust Charity No. 1177857 Company No. 10894513 Trustees. Report and Unaudited Accounts 31 August 2024 HAS Trust Contents Pages Trustee5' Annual Report Independent Examiner's Report Statement of Financial Activities 2to3 Balance Sheet Statement of Cash flows otes to the Accounts 8t013 Detailed Statement of Financial Activities 14 Page I HAS Trust Trustees Annual Report The trustees, who are also directors of the charity for the purposes of the Comparkies Act 2006, present their report with the unaudited financial Statements of the charity for the year ended 31 August 2024. REFERENCE AND ADMINISTRATIVE DETAILS Company No. 10894513 Charity No. 1177857 Reglstered Office 9 Yomede Park Bath BA13LS Directors and Trustees The Direttors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year: A.D. Hornsby J. Lee S. Magr3th Accountants The Waldron Partnership Ltd 30 Circus Mew5 Bath BAI 2PW OBJECTIVES AND ACTIVITIES The purpose of the charity a5 Set out in its governing document is to provide accommodation, skills development and creative activities for adults affected by learning disabilities and mental health issues in the South West of England. ACHIEVEMENTS AND PERFORMANCE It has been an unevenrful year for the charity whose main activity currently is to provide housing for 3 ladies with learning disabilities. The property in Bath ha5 been functioning well after the conversion works previously and continues to be managed by Golden Lane Housing l Mencap I who now pay the charity £2.063 per month under an inflation linked contract. No maintenance expenditure was necessary and $0 rese￿e5 were increased over the year in preparation for future demands. The tenants, the same 3 ladies are now supported by ELSI. a charity that specializes in care for adults with learning disabilities. FINANCIAL REVIEW Income for the year was higher than the previou5 year with increased bank interest of £1,789 on top of rental income of £24,849. Expenditure was £2,452 and the charity made a surplus of £24,186. Page 2 HAS Trust Trustees Annual Report STRUCTURE, GOVERNANCE AND MANAGEMENT The charity is a registered company and as such is bound by the Memorandum and Articles of Association. There are 3 members who are also trustees and directors. All 3 of these are founding members and therefore can serve for an unlimited period. Stephen Magrath and lieun Lee both work as artists/teacheTS Wlth adults with learning disabilities and/or mental health issues. Andrew Hornsby is an IT consultant with con5ideiable financial and marketing experience. There is a Chair of Trustees who coordinates meetings of which there are to be at least two per year. All trustees should be present to achieve a quorum. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are a150 responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP IFRS 1021. Signed on behalf of the board S. Magrath Trustee 18 November 2024 Page 3 HAS Trust Independent Examlners Report Independent Examlner's Report to the trustees of HAS Trust I report to the charity trustees on my examination of the financial statements of HAS Trust for the year ended 31 August 2024. RÈsponslbilities and basis of report As the charity's trustees of the company land also its directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 20061'the 2006 Act. Hoving satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eliÉible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Direction5 given by the Charity Commi55ion under section 145151 Ibl of the 2011 Act. Independent examiner's statement I have completed my examination. I can confirm that no material matters have come to my attention in connertion with the examination giving me cause to believe: accounting records were not kept in accordance with section 386 of the 2006 Act - or the financial statements do not accord with those records.. or the financial statements do not comply with the accounting requirements under section 396 of the 2￿6 Act other than any requirement that the financial statements give a 'true and fair, view which is not a matter considered as part of an independent examination; or the financial statement5 have not been prepared in accordance with the method5 and piinciples of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Marco Andrew Martin FCCA CTA The Waldron Partnership Ltd 30 Circus Mews Bath BAI 2PW 18 November 2024 Page 4 HAS Trust Statement of Financial Activitie5 for the year ended 31 August 2024 Unrestricted funds Total funds Total funds 2024 2024 2023 Notes Income and endowments from: Charitable artivities Investments 24,849 1,789 24,849 1,789 22,800 103 Total 26,638 26,638 22,903 Expenditure on: Charitable activities 854 854 750 Other 1,598 1,598 1,471 Total 2,452 2,452 2,221 Net gains on investments Net income 24,186 24,186 20,682 Transfers between funds Net income before other gains/llosse51 24,186 24,186 20,682 Other gains and losses Net movement in funds 24,186 24,186 20,682 Reconclllatlon of funds: Total funds brought forward 808,630 808,630 787,948 Total funds carried forward 832,816 832,816 808,630 P3ge 5 HAS Trust Balance Sheet at 31 AuBUSt 2024 Company No. 10894513 Notes 2024 2023 Fixed assets Tangible assets 750.000 750,000 750,000 750,000 Current assets Cash at bank and in hand 83,535 83.535 17191 82.816 59,350 59,350 17201 58,630 Creditors: Amount falling due wtthin one year io Net current assets Total assets les5 current Ilabilltles 832,816 808,630 Net assets excluding pension asset or liabllity 832,816 808,630 Total net assets 832,816 808,630 The funds of the charity Restricted funds Unrestricted funds General funds li li 789.816 765,630 789,816 765,630 Reserves Revaluation reserve li 43,000 43,000 43,000 43,000 Totsl funds 832,816 808,630 These accounts have been prepared in accordance with the speci31 provisioll5 of Part 15 of the Companies Act 2006 relating to small companies. For the year ended 31 August 2024 the eompany was entitled to exemption under section 477 of the Companies Act 2006 relating to small cornpanies. The members have not required the company to obtain an audit in accordance wtth settion 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Att 2006 with respect to accounting recortls and the preparation of accounts. Approved by the board on 18 November 2024 And signed on its behalf by: S. Magrath Trustee 18 November 2024 Page 6 HAS Trust Statement of Cash flows lor the year ended 31 August 2024 2024 2023 Cash qows froTr. -per2tinff 2v+jiitioe Net income per Statement of Financial Activities 24,186 20,682 Adjustments for.. Dividends, interest and rent5 from investments 11.7891 11031 Net cash provided by operating activitie5 22,397 20,579 Cash flows from investing activlties Dividends, interest and rents from investments 1,789 103 Net ¢ash from Investlng actlvlties 1,789 103 Net Cash from financing activlties Net Increase In ¢ash and cash equlvalents 24,186 20,682 Cash and cash equivalents at the beginning of the year 59,350 38,668 Cash and cash equivalents at the end of the year 83,536 59,350 Cornponents of cash and cash equivalents Cash and bank balance5 83,535 59.350 83.535 59.350 Page 7 HAS Trust Notes to the Accounts for the year ended 31 August 2024 l Accounting policies Basls of preparatlon The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended fjractice applicable charitics pieparing their account. '.n accordonce with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective I January 20151 (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Change in basis of accounting or to previous accounts There has been no change to the accounting policies (valuation rules anil method of accountingl since last year and no changes have been made to accounts for previous years. Fund a¢¢ountÈn8 Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charitv. These are unrestricted funds earmarked by the trustees for particular purpose5. These are uniestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. These are available for use subjecl to restrirtions imposed by the donor or through term5 of an appeal. Designated funds Revaluation funds Restricted fL¢nds Income Recognition of income Income is illcluded in the Statement of Financial Activities ISOFAI when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the irFcome can be measured with sufficient reliability. Income with related Where income has related expenditLtre the income and related expenditure is expenditure reported gross in the SOFA. Donations and legacies Voluntary income received by way of grants, donations and glfts Is included In the the SOFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SOFA at the same time a5 the donations and gifts giftldonation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditurel and facilities where the benefit to the Charity is reasonably quantrfiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gainslllossesl on This includes any gain or10s5 resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gainslllossesl on investment assets This includes any gain or loss on the sale of investments. Page 8 HAS Trust Notes to the Accounts Expenditure Recognition of expenditure Expenditure 15 recognised on an accruals basis. Expenditu￿ includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. These comprise the c05t5 associated with attracting voluntary income, fijndraising Expenditure on Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the fLtrtherance of its objects, including the making of grants and governance costs. All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audltlindependent examination fees, costs linked to the strategtc management of the Charity, together with a share of other administration costs. These are support costs not allocated to a particular activity. Grants payable Governance costs Other expenditure Taxatlon The charity is exempt from corporation tax on its charitable activities. Tanglble flxed assets and depreciation Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: Freehold property % no depreciation provided No depreciation is provided on the charity's land and buildings. In the opinion of the Directors and Trustees the building will have a residual value at least equal to its C05t rendering a charge for depreciation negligible. Freehold investment propertv Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activltles as they arise. Trade and other debtors Trade and other debtors are recognised at the settlement amoijnt dite after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash and cash equivalents Cash anil cash equivalents comprise cash at bank and on hand, demand deposits with banks and other 5hort-term highly liquid investments with original maturities of three months or less and bank overdraft5. In the statement of financial p051tion, bank overdrafts are shown within borrowings or current liabilittes. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. Page 9 HAS Trust Notes to the Accounts Trade and other creditors Short term creditors are measured at the transaction price. Other creditors and provision5 are recogni5ed where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Receipt of donated goods. facilities and services All donated goods, facilities and Se￿iCe$ received are recognised within incoming resources and expenditure at an estimate of the value to the chartty. 2 Company status The company is 3 private company limlted by guarantee and consequently does not have share capital. 3 Statement of Financial Activlties- prior year Unrestricted funds Total fund5 2023 2023 Income and endowments from: Charitable activitie5 Investments 22,800 103 22,800 103 Total 22,903 22,903 Expenditure on.. Charitable activities 750 750 Other 1,471 1,471 Total 2,221 2,221 Net Income 20,682 20,682 Net income before other gainslllossesl Other gains and losses: 20,682 20,682 Net movement in fvnds 20,682 20,682 Reconciliation of funds.. Total funds brought forward Total funds carried forniard 787.948 787,948 808,630 808,630 Page 10 HAS Trust Detailed Statement of Flnancial Artivltles for the year ended 31 August 2024 Unrestricted funds Total funds 2024 Total fund5 2023 2024 Income and endowments from: Charitable activitie5 Provision of accommodation for people with learning disabilities and or mental health difficulties 24,849 24.849 22,8(JO 24,849 24,849 22,800 Investments Bank interest 1,789 1,789 1,789 1,789 103 103 Totsl income and endowments 26,638 26,638 22,903 Expenditure on: Governance costs Accountancy 854 854 750 854 854 750 Total of expenditure on charitable artivities 854 854 750 General administrative costs, including depreciation and amortisation General insurance5 1,522 76 1,522 76 1,374 97 Sundry expenses 1,598 1,598 1,598 1,598 1,471 1,471 Totsl of expenditure ¢f other costs Total expendlture Net gains on investments 2,452 2,452 2,221 24,186 24.186 20,682 Net income Net Income before other gainslllossesl Other Gains 24,186 24,186 20,682 Net movement in funds 24,186 24,186 20,682 Reconciliation of fund5: Total funds brought forward 808,630 808,630 787,948 Total funds carried forward 832,816 832,816 808,630 Page 14