HAS Tntst Charity No. 1177857 Company No. 10894513 Trustees, Report arml Unaudited Accounts 31 Au8USt 2025
HAS Trust Contents Pages Trustees, Annual Report 2to3 Independent Exarniner's Report Statement of Financial Activities Balance Sheet Statement of Cash flows Notes to the Accounts 8t013 Detsiled Statement of Financial Activities 14to15 Page I
HAS Trust Trustees Annual Report The trustees, who are abo direLtots of the charity for the purp)ses of the Companies Act 2¢J)6. present their report with the unaudtted financial statements of the charity for the year ended 31 r.Vr.r* REFERENCE AND ADMINISTRATIVE DAlL5 Company No. 10894513 Charity No. 1177857 Re8lstered Office 9Yomede Park Bath BAI 3LS Directors and Trustees The Dirertors of the charitable company are tts Trustees for the purp)ses of charity law. The following Directors and Trustee5 served during the year. A.D. Hornsby J. Lee S. Magrath Accountants The Waldron Partnership Ltd 30 Circus Mews Bath BAI 2PW OBJEcfivES AND ACTIVITIES The purpose of the charity as set out in its governing document is to provide accommodation, skills development and creative activities for adu5 affected by learning disabilities and mental health issues in the South West of England. ACHIEVEMENtS AND PERFORMANCE It has been a producitve year for the charity whose main activity currentty is to provrde housing lor 3 ladies with learning disabiltties. The property in Bath has been functioning well and continues to be managed by Goklen Lane Housing Imencapl who We paying the charity £2.120 per month by the end of the year under an inflation linked contract. No maintenance expenditure was paid out so interest bearing capital SeNe5 increased over the year which enabled HAS Trust to continue funding a variety of grant applications via Quartet Community Foundation to support ourtargeted local charities for adults with learning disabilities and mental health issues . The tenants. the same 3 ladies continue to be supported by ELSI. a tharity that specializes in care for adults with learning disabilities. Page 2
HAS Trust Trustees Annual Report FINANCIAL REVIEW Income for the year was higher than the previous year with bank interest of £1.559 on top of increased rental income of £ 25,043 . Expenditure was lower at £ 1,433 and the charity made a surplus on the rental property of £ 25,169 before donations. The funds We boosted by a donation of £ 25.LNXI during the year and combined with £ 75,LKKJ from reserves this enabled a total of £ IiKI.(K¥J to be transferred to the HAS Trust EndowTnent Fund Tnanaged by Quartet Communty Foun(lation. STRucfuRE. GOVERNANCE AND MANAGEMEI The charity 15 a registered company and as such 15 tUnd 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 Jieun Lee both work as artistslteachers with adults with learning disabilities and/or mental health issues. Andrew Hornsby an IT consultant with considerable financial and marketing experience. There is a Chair of TStee$ 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 distlose with reasonable accuracy at any time the financial position of the chartty and to enable them to ensure that the financial statements comply with the Companies Act 21XJ6. The Trustees are also responsible for safeguarding the assets of the charity and hen takin8 reasonable step5 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 Art 2fA)6 and in accordance with the Charitie5 SORP IFRS 102}. Signed on behalf of the board S. Magrath Trustee 11 March 2026 Page 3
HAS Trust Independent Examlners Report Independent Examiner's Report to the trustees of HAS Trust report to the charFty trustees on my examination of the financial statements of HAS Trust for the year ended 31 August 2025. Responsibilitie5 and basis of report As the chaiity's trustees of the company land also its direttors 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 2¢Y)61'the 2LJJ6 Act. Having satisfied rnyself that the financial statements of the Charrty are not reqUId to be audFted under Part 16 of the 26 Act and are eligible for independent examination, I report in SpeCt of my examination of your charty's financial statements as catried out under section 145 of the Chartties Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Dirertions given by the Charity Commission under sectlon 145151 Ibl of the 2011 Att. Independent examiner's statement I have completed my examination. I can confirn7 that no material matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in accordance wtth section 386 of the 2c6 Act: or • the financial statements do not atcord with those records. or the financial statements do not Cornp with the accounting requirements under section 396 of the 21XJ6 Act other than any requirement that the financial statements grve a'true and fair, view which is not a matter considered as part of an independent examination: or the financial statements have not been prepared in accordance wrth the methods and principles of the Statement of Recommended Practice for accounting and pOrting by charities applicable to charities preparing their accounts in accordance wtth the Financial Reporting Standard applicable in the UK and Republic of Irelan(I IFRS 1021. I have no concerns and have come across no other matters in connection wtth 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 The Waldron Partnership Ltd 30 Circus Mews Bath BAI 2PW 11 March 2026 Page 4
HAS Trust Statement of Financial A¢iiit*S for the year ended 31 August 2025 Unrestrirted funds Total funds Totsl fvnds 2025 2025 2024 Notes Income and endowments from: Donations and legacies Charitable activilies Investments 25.lJY) 25,043 1,559 25,¢XKJ 25,043 1,559 24,849 1,789 Total 51.602 51.602 26.638 Expendlture on: Charitable activities Other ILXJ,750 1,433 l(Kl,750 1,433 854 1,598 Total 102,183 102,183 2.452 Net gains on investments Net lexpenditurellln¢ome Transfers between funds 150.5811 150,581) 24,186 Net le¥penditurel/income before other gainsl{losses) 150.5811 150.5811 24,186 Other 8aiTrs and losses Nrt movement in funds 150,5811 150,5811 24,186 Reconciliatlofi of funds: Total funds brought forward 832,816 832,816 808.630 Totsl funds carried forward 782,235 782.235 832.816 Page 5
HAS Trust Balance Sheet at 31 August 2025 Company No. 10894513 2025 2024 Flxed assets Tangible a55ets io 750.(MXI 750.ncK 750,LKKI 750,OC(I Current assets Cash at bank and in hand 32,954 32,954 17191 32,235 83,535 83,535 17191 82,816 Creditors: Amount falling due within one year Net current assets li Total assets less current liabllltles 782.235 832,816 832,816 Net assets exduding pension a55et or liability Total net assets 782,235 782,235 832,816 The funds of the charity Rertrirted funds Unrestrirted lunds General funds 12 739,235 789.816 739,235 789.816 Reserve5 Revaluation reSee 12 43.C 43.[ 43,(XKJ 43.CO) Totsl funds 782,235 832.816 These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2LK)6 relating to small companies. For the year ended 31 August 2025 the company was entitled to exemption under section 477 of the Companies Art 2(K16 relating to small compantes. The members have not required the company to obtain an audit in accordance wlth section 476 of the Companies Act 21x16. The directors acknowledge their responsibilities for complying wrth the requirements of the Companies Act 26 with respect to accounting records and the pparatIOn of accounts. Approved by the board on 11 March 2026 And signed on its behalf by- S. Magrath Trustee 11 March 2026 Page 6
HAS Trust Statement of Cash flows tor the year ended 31 Au8U5t 2025 2025 2024 Cash Ilow¢ from oporatin@ èrtivitiÈ¢. Net {expenditurel/in¢ome per Ststement of Flnancial Act•¥ities 150,5811 24,186 Adjustments for: Dividends, interest and rents from investments 11.5591 11,7891 Net cash lused Inllprovided by operating acti¥ikne5 152.1401 22,397 Cash flows from in¥esting activities Dividends, interest and rents from investments 1,559 1.789 Net cash from in%E51in8 attivities 1,559 1,789 Net cash from financing artivities Net Idecrease)/increase In and cash equlw4lents 150,5811 24,186 Cash and cash equlvalents at the beginnin8 of the year 83,535 59,350 Cash and cash equlvalents at the end ofthe year 32.954 83,536 Components of cash and cash equivalents Cash and bank balance5 32,954 83,535 32,954 83,535 Page 7
HAS Trust Notes to the A¢counts for the year ended 31 August 2025 l Accountln8 wliae5 Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by accordance wtth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20151- Icharities SORP IFRS 10211. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2OJ6. Change In basis of ac¢ountln8 or to previow accounts There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. Fund accounting Unrestritted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. These are unrestricted funds earmarked by the trn5tees for particular purposes. These are vnrestricted funds which include a revaluation reserve repsentIng the ststement of investment assets at their market values. These a available for use sijbject to restrictions imposed by the donor or through temis of an appeal. Designate(I funds Revaluation funds Restricted fvnds Incame Recognrtion of income Income is included in the Statement of Financial Activtties ISOFAI when the charty becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with lated Where income has related expenditure the income and related expendrf(ure is expenditure reported 8ross in the SOF Donations and legacies Voluntsry income recerved by way of grants, donatFons and gifts is included in the the SOFA when receivable and onty when the Charty has unconditional entttlement to the income. Tax reclaims on Income from tax redaims is induded in the SOFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are onty included in intome (with an equivalent amount in expenditure) and fac41sties where the benefft to the Charity reasonably quantrfiable, measurable and material. Volunteer help The value of any volunteer help recewed is not included in the accounts. Investment income This is induded in the accounts when receivable. Galnslllosse51 on This includes any gain or loss resufting from revaluing investments to market revaluation of red value at the end of the yeèr. assets Gains/llossesl on investment assets This includes any 8ain or loss on the sale of investments. Page 8
HAS Trust Notes to the A¢¢ounts Expendtture Recognition of expenditure Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be ful recovered, and is reported as part of the expenditure to which it re5ates. These comprise the costs aswiated with attracting voluntary income, Expenditu on !fJpdr2irt +rxHinLT rnEts Expenditure on These comprise the costs incur by the Charity in the delivery of its activities charitable activities and 5er¥ices in the furtherance of its objects, induding the making of grants and governance costs. All grant expenditure is accoLbnted for on an actual paid basis plus an accrlsal for grants that have been approved by the trustees at the end of the year but not yet paid. These include those costs aswciated with meeting the constitutional and statutory requirements of the Chartty. including any auditlindependent examination fees. costs linked to the strategic management of the Chartty, together with a share of other administration costs. These are support costs not allocated to a particular actNtty. Grants payable Governance costs Other expendrture Taxation The charity is exempt from corporation tax on its charttsble actNities. Tangible fixed assets and depreciation Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful lrfe: Freehold property % no depreciation provided No depreciation is provided on the charity's land and buildirkgs. In the opinion of the Dlrectors and Trustees the buildin8 W411 have a residual value at least equal to its cost rendering a charge for depwiatK)n negligible. Freehold investment propertv Investment properties are measured initially at cost and subsequently at fair value at each balan sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise. Trade and other debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayrner are valued at the amount prepaid net of any trnde discounts due. G)sh and cash equlvalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits Wth banks and other short-term highly Ibquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown wtthin borrowings or current liabilities. 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 k¢ounts Trade and other credltors Short term creditors are measured at the transaction price. oiher creditors and provisions are recognised where the charity has a present oblvgation 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 MeaSud or estimated reliab. Creditors and provisions are nomially recognised at thelr settlement arnount 3fter allowirb8 fo¥ arTry Lradè discoufits due. Receipt of donated goods, facilltles and services All donated goods. facilities and services received are recognised within incoming resource5 and expenditure at an estimate of the value to the charity. 2 Company ststus The company is a private company limited by guarantee and consequently does not have Sha capital. 3 Ststement of Finanaal ActitIes- prtoryear Unrestricted funds Total funds 2024 2024 Income and endovmients from: Charitable activities Investments 24.849 1.789 24.849 1.789 Totsl 26,638 26,638 Expenditure on: Charitable acthvities 854 854 Other 1,598 1,598 Totsl 2,452 2,452 Net ¢ncome 24.186 24,186 Net income before other gains/llossesl Other gains and losses: Net movement In fvnds 24.186 24.186 24.186 24.186 Rec¢n¢lllatlon of funds: Total funds brought forward Totsl funds calried lorward 808.630 808,630 832,816 832,816 4 Income from donations and le8acies Total Total 2025 2024 Donations 25,(XJ) 25,LNXI 25,(MXI 25.C Page 10
HAS frust Notes to the Accounts 5 Income from charitable artivities Vnrestrkted Total Total 2024 2025 Provision of accommodation for people wrth learning di5abilwties and or mental health difficulties 25.043 25,043 24,849 25.043 25,043 24,849 6 Income from investments Unrestrlrted Total Total 2025 2024 Bank interest 1.559 1,559 1.559 1,559 1,789 1,789 7 Expenditure on charitable activitie5 Unrestricted Total 2025 Total 2024 Expenditure on choritable octNities Donations to Quartet ICQ.(KM) Governonce costs Accountancy 750 750 854 I.750 100,750 854 8 Other expenditure Unrestricted Total Total 2025 2024 Premises costs 1,433 1,433 1,522 76 General administratNe costs 1.433 1.433 1.598 9 Staff costs The charity has no employees. Page 11
HAS Trust Notes to the A¢¢ounts 10 Tangible fixed assets Cost or revaluallon At I September 2024 At 31 August 2025 Net book value5 750,tXM) 750.(K>o 750.OCKJ 750.000 At 31 August 2025 At 31 August 2024 Net book values of assets held under finance leases and hire purthase Contracts and included above 750.LK)O 750,C0 750,000 750.000 The historical cost of the Land and Buildings is £557,IXK). 11 Creditors: mount5 falling due within one year 2025 2024 Accruals 719 719 719 719 12 Movement in funds Incomlng leUrCeS At31 lindudin8 Septemb other er 2024 gainsllossesl Resources expended Au8USt 2025 Restrlrted funds: Unrestrlrted funds: General fvnds 789.816 51.602 1102,1831 739,235 Revaluatl¢n Reserves: Revaluatlon fund 43,(KM) 43,CrfX) Total revc71uotion reseNe5 43.(KKI 43.C(KJ Totsl funds 832.816 51.602 1102,1831 782,235 Purposes and restrictions in relation to the funds= Revaluation reserves Represent the amount by which investments exceed their historical cost. Page 12
HAS Trust Notes to the Accounts 13 Analysis of net assets between funds Unrestricted funds Total Fixed assets 750,OCM) 750,000 Net cur¥ent assets 782,235 782.235 14 RKon¢lllatlon of net debt Atl At31 August 2025 2024 Cash flows Cash and cash equivalents 83,535 83,535 150,5811 150,5811 32,954 32,954 Net debt 83,535 150,5811 32,954 Page 13