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 D￿AlL5
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 adu￿5 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 t￿Und 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 T￿Stee$ 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
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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 reqUI￿d to be audFted under Part
16 of the 2￿6 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 2c￿6 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
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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 reSe￿e
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
2￿6 with respect to accounting records and the p￿paratIOn 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 rep￿sentIng
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 r￿ed 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 W￿th 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
MeaSu￿d 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 Acti￿tIes- 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,C￿0
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
le￿UrCeS
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