The Trustees, who are also Directors of the charity for the purpose of the Company Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2025.

The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Organisational Objectives and Structure

Glasgow Watersports is a charity and company limited by guarantee. Its objectives as outlined in the governing documents are:

- The advancement of education in connection with watersports and related activities

- The advancement of public participation in watersports and related activities

- The provision of recreational facilities and the organisation of recreational activities with the object of improving the conditions of life for the persons for whom the facilities and activities are primarily intended particularly in connection with watersports and related activities.

Glasgow Watersports operates as Pinkston Watersports in Glasgow.

Pinkston Watersports is a community paddlesports centre and is home to Scotland’s first and only artificial whitewater course. It is situated just 5 minutes from the M8 motorway and is a 10-minute walk from Glasgow city centre. It is ideally placed to provide facilities and activities to many.

As well as this proximity to a population hub, Pinkston Watersports is also situated close to areas of high deprivation according to the Scottish Index of Multiple Deprivation (SIMD). A key aspect of our work is to provide opportunities for our closest neighbours who may otherwise not have the opportunity to benefit from outdoor adventure sports and the long-term benefits that these activities can bring.

Glasgow Watersports is led by a Board of volunteer Trustees who have responsibility for the governance and strategic direction of the charity. The Board and the Finance sub-group meet bi-monthly. Trustees are recruited based on skills relevant to the requirements of the Board.

Operational decisions and day to day running of the charity are delegated to the General Manager and the staff team who deliver against three key strategic objectives: Sport, Community, and Social Enterprise. External Support is brought in as required, and we have ongoing support from John Morris Health and Safety Ltd and HR Booth. We would like to acknowledge the support of Square Peg HR over several years.

Vision

The Glasgow Watersports Centre will be renowned as a centre of excellence for sporting activity to facilitate community regeneration. It will be well used and highly valued by the local community and wider sporting community.

Mission

Glasgow Watersports is Scotland's only White-Water Watersports Centre. As a social enterprise we aim to make watersports accessible to all so that everybody can have the chance to build the confidence, strength, independence, and social network that come from participation. We enable all people to realise their full potential, whether it's gaining confidence through trying something for the first time or providing a safe, clean, challenging, and changeable course for professional practice.

Core Values

• Equality, fairness and social justice

• Dignity and respect

• Empowerment of individuals and communities through participatory processes

• Cooperation and collaboration

• Organisational openness and accountability

• Responsible citizenship

• Community togetherness.

Summary of main activities and achievements

Glasgow Watersports operates as a social enterprise, with activities geared towards delivering community impact. All activities delivered are aligned with our over-arching objectives of advancement of education in connection with watersports, advancement of public participation in paddlesports and related activities, and the provision of recreational facilities and the organisation of watersports activities.

We continue to do this by two key means; firstly, by renting out facilities (storage or access to the water), and secondly by delivering activities directly. We have a tiered pricing structure to allow lower rates for charities, schools, uniformed and community groups and groups with additional needs.

Highlights

This year saw an incredibly successful programme of delivery by our staff. Over 50,000 participants took part in at least one of our activities, whether canoeing, kayaking, archery, team building, bushcraft, raft building and more. During the year we continued to run our 2 established Youth Clubs for young people from our local area, a multi-sport youth club for children ages 8-12 and paddlesport youth club for high school age young people building on skill development. These programmes were incredible and continue to go from strength to strength. We introduced a third youth program, our youth forum. This group was drawn from our local community, existing participants and groups and alongside activities the group were supported to create a strong voice of what young people want and feed into our plans, processes and direction.

The year saw a continuation of our commitment of staff time and energy to reviewing and developing our evaluation processes. We have included our 2nd (2024) evaluation poster in this report. Some aspects of this year's evaluation have been good, some other aspects haven’t created the useable information and reporting we hoped for, and we have used this information in our next evaluation cycle.

The board and staff at Pinkston Watersports place a significant priority on Health and Safety. During the year we updated our Health and Safety policy to reflect the requirement in RIDDOR (The Reporting of Injuries, Diseases and Dangerous Occurrences Regulations 2013) for us as the site owner to report to the HSE any injuries that met the threshold in the regulations. This includes all site user groups including those such as Fire and Rescue Services who are using an area of the site. The team at Glasgow City Council Environmental Health who support the HSE to follow up on any incidents have been excellent supporting us with any opportunities for learning and improvement. As normal we have an ongoing programme of site maintenance, safety improvements and staff training. During the year, the Board also completed a full review of the charity’s risk register, identifying and undertaking a wide range of actions.

The period saw some changes and developments that reflected the sustained hard work and effort. Our team continue to speak and share their experience at a range of events, a highlight of this year was as a Keynote Speaker at Social Investment Scotland’s annual staff event. Steland, Outlander and a BBC wild swimming series with Greg Hemhill and Julie Nimmo. Our staff training program was further developed, including a full-day session for all staff on Adverse Childhood Events and their impact and considerations when working with people.

During the year, a considerable number of volunteers contributed to the success of Pinkston Watersports. Volunteers have also supported the maintenance of the site, helped run a wide range of paddlesports events and created a very supportive and special environment. Young college students attending the local college for outdoor education volunteer at our youth clubs and gain valuable experience and mentoring, helping build their confidence, skills and employability. Our user groups on site from canoe clubs to groups such as scouts, competition events such as canoe slalom and canoe polo have incredible volunteer armies that make evident contributions to the sport, its participants' and the adults and young people taking part. We are happy to play a role in helping facilitate this massive volunteering effort. A highlight in August 2024 was the 10th Birthday Party for our local community. This day long free event welcomed 2,000 people and included a wide range of watersports activities, fun events, and more. It was supported by 45 volunteers and a number of organisations including Scottish Fire and Rescue. We were blessed with a sunny day and a wide range of visitors. A selection of images is shown below:

Groups Welcomed to Pinkston Watersports

In all cases learning has been two way and we are grateful for the opportunity to learn from all the organisations and individuals involved.

A recent change was the development and customisation of our accessibility pontoon by the creation of a “beach area” to allow the use of a stable platform of rafted canoes to be easily launched and landed when working with a range of participants with additional needs. This was built principally by volunteers using over 120 used pontoon blocs that were dismantled and collected by volunteers. This is estimated to have saved over £25,000 of funds and create a vital improvement.

The challenge of seasonality when working in watersports and outdoor education continues to be addressed by delivery of paddlesports out of season in school pools such as in St Mary’s Kenmure Secure Unit and in Kibble Residential School. We have also added several more activities on land to encourage participation when it’s too cold to offer our usual water based classes. However, we have capitalised on the ‘cold water dooking’ craze with a fully subscribed winter programme of wellbeing events and half days with swimming,sauna, yoga and mindfulness. Pinkston’s artificial white-water course supports the delivery of Swift Water and Flood Rescue training and Rescue from Vehicles in Water training to over 40 emergency services from all over the UK. These services use hotels and other services in the city with the average stay being 3 days. A key need sought by these services is our clean water record, achieved by filtration and regular testing.

The strengthening and development of both our team and our overall offering increases the opportunities, demands and resources in our growing role supporting other organisations. We routinely host a range of organisations, visitors and elected members. This includes local, Scottish, UK and international visits. Our team assist external organisations, whether in developing their approach to working with young people in the outdoors (including target impacts and outcomes), agreeing approaches to supporting individuals with additional needs, and a range of issues in the development of inclusive activities. Our team now routinely present at workshops, seminars and meetings across a range of groups. A list of organisations we worked with during the year is included at the end of this report.

White Water Pump – Critical Spare

Previous annual reports have shared the challenges of the breakdown of our White-Water pumps. In June 2024 we took delivery of a critical spare (Pump 4). This is an important item and the support of the Investing in Enterprise fund at Foundation Scotland who awarded Pinkston £250,000 (£125,000 grant and £125,000 Loan to carry out the repairs and purchase of the critical spare is massively appreciated.

The year to 31st March 2025 reflects a period of consistent effort and activity.

During the year, we had increased income due to the incredibly hard work of the senior management, staff, board and other volunteers and supporters and also increased expenditure due to the last element of the repair and servicing expense related to our white-water pumps and a wide range of site, equipment and other improvements.

This resulted in a relatively small decrease in unrestricted funds to £210,856 from £216,424.

The deficit of £8,147 is largely attributable to non-cash expenditure in respect of depreciation of fixed assets amounting to £61,029. Excluding this non-cash charge, the charity’s financial activities reflect a surplus, indicating sustainable financial performance from its core activities.

We continue to work to address the needs of our existing reserves policy. Our Operating Reserves requirements are currently met, and we continue to work towards our Capital Asset Repair and Replacement Reserve requirements for the current 5-year period. As part of the Investing in Enterprise Grant/Loan award the reserves policy is being updated to address the funders requirements.

Principle Funding Sources

Our funding is generated mainly from delivering charitable activities - £379,620 of our income was generated in this way.

A further £69,808 was generated through other trading – mainly the rental of storage containers.

We have been fortunate to receive support from several funders in addition to the funders of the £250,000 Investing in Enterprise Grant/Loan award received in 2022 highlighted above. We received an award of £5,000 from Glasgow City Council Local Area Partnership towards the Open Day.

Restricted funds include the release of deferred income related to previous grant funders of asset purchases. This matches depreciation related to the asset over the life of the asset. We continue to have the support of the Adapt and Thrive government programme until March 2027, (a £50,000 COVID loan repayable over 5 years). This loan continues to help us address our reserves and materially reduces the risk to the charity. We started monthly repayments of the capital in April 2022. Further details are available in our Reserves Policy.

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee as defined by the Companies Act 2026.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

The trustees' report was approved by the Board of Trustees.

I report on the financial statements of the charity for the year ended 31 March 2025, which are set out on pages 8 to 20.

The charity trustees (who are also the directors of Glasgow Watersports for the purposes of company law) are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006.The charity trustees consider that the audit requirement of Regulation 10(1)(a)-(c) of the Charities Accounts (Scotland) Regulations 2006 does not apply.

It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and to state whether particular matters have come to my attention.

My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the financial statements.

In the course of my examination, no matter has come to my attention

1. which gives me reasonable cause to believe that in any material respect the requirements:

• to keep accounting records in accordance with Section 44(1)(a) of the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 4 of the Charities Accounts (Scotland) Regulations 2006, and

• to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the Charities Accounts (Scotland) Regulations 2006

have not been met, or

2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Glasgow Watersports is a private company limited by guarantee incorporated in Scotland. The registered office is Glasgow Watersports, 75 North Canal Bank Street, Glasgow, G4 9XP, Scotland.

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The average monthly number of employees during the year was:

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

Deferred income is included in the financial statements as follows:

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

Unrestricted Funds

These represent the general operating funds of the charity and are to be used at the discretion of the charity in delivering the charitable objectives of the charity.

Restricted Funds

Merchants House of Glasgow Grant Award - Youth Possilpark

To provide free sessions for Young People from Possilpark.

Glasgow City Council ECOS

To deliver teen paddling club – ‘Serious Fun’ / Mental Health & Wellbeing Fund

Glasgow City Council Local Area Partnership

To assist with the costs of the 10th Birthday Open Day.

Previous awards (See previous annual accounts)

These reflect the use of deferred income related to depreciation of asset purchases.

Suez Trust. Sport Scotland Facilities Fund, Youth Work Education Recovery Fund

There were no disclosable related party transactions during the year (2024 - none).