The Trustees are pleased to present their report together with the financial statements of Jobs and Business Glasgow (JBG) for the year ended 31 March 2026.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 within the Notes to the Financial Statements and comply with the charity’s trust deed, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Companies Act 2006, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland’ (FRS 102) and the Statement of Recommended Practice – “Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland” (SORP).

Jobs and Business Glasgow (JBG) was created in 2011 following the merger of five Local Regeneration Agencies and was established to provide services within the geographical area of Glasgow City Council. JBG is a company limited by guarantee, registered in Scotland (SC108565) with charitable status (Scottish Charity Number SCO23930).

Glasgow City Council is the sole member or shareholder of JBG and has a Services Agreement that states JBG’s purpose is to act as the Council’s agent in the field of local regeneration by providing integrated economic and social development opportunities across the city. In terms of statutory powers, JBG focusses on the delivery of economic development functions, and in particular employability services.

The purposes of JBG as set out in its Articles of Association, and agreed by the Office for the Charity Regulator (OSCR) in November 2025, are:

• the prevention or relief of poverty

• the advancement of education

• the advancement of health

• the advancement of citizenship or community development

• the relief of those in need by reason of age, ill-health, disability, financial hardship or other disadvantage

• any other purpose that may reasonably be regarded as analogous to any of the preceding purposes (this is solely the relief of unemployment)

In order to ensure the longer-term strategy is achieved, the Board agrees an annual budget for the new financial year and the key performance measures which require to be met.

Jobs & Business Glasgow’s Strategy

Mission

To work in partnership to support residents to compete for employment opportunities in and beyond the city.

Strategic Goal

To improve the competitiveness of residents and help to increase Glasgow’s employment rate: reducing the gap with Scotland and better performing UK cities.

Values

Customer First:

‘We will listen to the needs and aspirations of customers, businesses, colleagues and partners and respond by providing customised interventions that address those needs and aspirations.’

Results Driven:

‘We will concentrate on meeting our organisational targets, delivering in the required time, to the agreed budget and to a high quality.’

Professional:

‘Continually strengthen and develop the capacity and performance of our organisation in order to be recognised as being committed to excellence and deliver best value and continuous improvement to services that are valued by all customers, businesses, funders and partner agencies.’

Innovative:

‘We will continually review and develop our organisation’s approach to governance and service delivery and bring about positive change by maximising our efficiency and effectiveness; improving the quality of services and organisation processes; increasing our competitiveness and consolidating our contribution to economic development in the city.’

Exceeding Expectations:

‘We will go beyond expectations to achieve better and more sustainable futures for our business, individual customers, partners, funders and stakeholders.’

VISION STATEMENT:

"A future where every individual in Glasgow has the opportunity to thrive, leading to a more inclusive and economically vibrant community."

PURPOSE STATEMENT:

"To transform lives by empowering the people of Glasgow with the opportunities, support, and confidence to achieve lasting success.”

MISSION STATEMENT:

"To empower the people of Glasgow with the skills and confidence to achieve lasting personal and professional success."

Performance Report

Jobs and Business Glasgow (JBG) is an independent charity that must demonstrate the highest levels of fiscal and moral responsibility whilst, as an arms-length member of Glasgow City Council (who remains the sole shareholder), JBG also operates within a local government environment facing ever increasing financial challenges. On both fronts the Charity must demonstrate consistently that is offering best value for the public pound, therefore the Charity is not immune to making best use of reduced funding whilst being relied upon to provide essential services in a city facing a number of employment and poverty challenges.

Continued cuts and savings in local government grant funding has inevitably affected services across the City, and Jobs and Business Glasgow has not escaped the inevitable impact. Year-on-year reductions to the Charity’s core funding have created increasing financial and logistical challenges at a time when the work that JBG carries out for the City and its people has never been so vital. Therefore the Charity has continued to demonstrate strong fiscal discipline whilst in 2025/26 JBG continued to innovate and invest in our staff and customers to ensure we are providing the very best possible services.

Innovation and a commitment to continuous improvement are key to JBG’s future success and indeed, relevance. It is now ten years since the charity moved away from a static, JBG-branded office model to a new community-based service delivered from a number of partner organisations in a wider range of locations across the city. This model not only substantially reduced our carbon footprint, it also established new partnerships and provided a wider range of services involving a number of complimentary organisations.

But JBG is about more than simply job creation. As a key member of the Glasgow City Council “family” of services and arms-length organisations, we have set ambitious targets to help eradicate the alarming levels of poverty across the city, and in particular child poverty.

As the Charity confidently repositions itself as a key partner in delivering a wide range of crucial services on behalf of the shareholder, Glasgow City Council, in the last operating year we have introduced and rolled out a bright and fresh new corporate identity, with a new logo and exciting digital and physical branding that reflects and represents JBG as a modern, confident organisation. The Better Starts Here tagline aims to reflect the positive impact JBG can have on our customers, and is also a nod to our commitment to continuous improvement as a leading charity. We aim to build brand awareness, followed by increasing brand affinity.

The rebrand will complement the Jobs and Business Glasgow Communications Strategy 2025-2028, setting out how we will deliver this Business Plan through a combination of communications priorities and objectives over the three-year period. The strategy focuses on utilising the most appropriate communications channels to support the key priority areas of JBG, with external and internal communications supporting engagement with new and existing audiences.

These changes have positioned JBG to launch its Strategic Business Plan 2026-2029, and in addition we will produce an Annual Performance Plan which will set out in more detail what we plan to achieve on a yearly basis, in addition to the activities that will be carried out including key deliverables, measurements and KPIs as set out earlier in this report.

Employability Services

Jobs and Business Glasgow is the largest provider of Employability advice and guidance in the city, and this remains the cornerstone and key function of the Charity. In 2019 GCC carried out a review of Employability services delivered across the city by GCC departments and its ALEOs. One of the aims of the GCC review was to establish where and how other members of the GCC family deliver Employability services and to establish each department’s own terminology of Employability.

The 2025/26 financial year marks a period of strong operational performance and significant strategic progress for JBG People Services. In April 2025, JBG established ambitious delivery targets aligned with Glasgow City Council’s (GCC) broader strategic and economic goals. While the Council directs the city’s overarching economic strategy, JBG serves as its primary frontline delivery partner, focusing specifically on localised employability services, barrier removal, and community-centric interventions.

Through strategic agility, expanded community co-location, and robust multi-agency partnerships, JBG successfully achieved strong overall performance across its core operational delivery objectives for the 2025/26 financial year.

Community reach was maximised through full utilisation of No One Left Behind (NOLB) funding, which enabled the delivery of dedicated key worker services. These included Working Together for Glasgow, supporting individuals aged 16 - 24, and Work Life Glasgow, supporting those aged 25 and over. Together, these programmes provided targeted support to residents facing multiple and complex barriers to employment, including in-work poverty. The “No Wrong Door” principle was embedded across all service delivery, ensuring any Glasgow resident seeking support was either assisted directly by JBG or referred to the most appropriate partner organisation, creating a joined-up and accessible system of support across the city.

Key Performance Indicator April 2025 to March 2026

Our Business Plan established measurable targets across four operational directives. The table below summarises final performance across critical metrics for 2025/26:

The reporting period demonstrates success in engaging and preparing Glasgow residents for the labour market, with three out of four key indicators significantly exceeding anticipated targets. This reflects highly effective outreach, robust partnership management, and excellent early-stage customer support.

The outturn for sustained employment highlights a clear strategic opportunity for the upcoming year. While our frontline pipelines excel at getting residents into work, future operational focus will pivot towards enhancing post-employment engagement and retention support to maximise long-term outcomes.

During 2025/26, JBG also enhanced its frontline delivery through integrated partnerships, targeted employer engagement, and localised support mechanisms. Key operational highlights include:

• Holistic Support & Barrier Removal: Expanded wrap-around care by integrating direct financial assistance with qualified Money Advice Services to mitigate immediate debt, establish resilient spending plans, and reduce workforce-entry anxiety.

• Community Integration: Maintained a multi-agency hub approach within Glasgow Life facilities and embedded Business Support Officers within third-sector organisations, ensuring ease of access for traditionally disengaged residents.

• Employer Services: Acted as a no-cost, risk-reducing recruitment partner for Glasgow’s business community, delivering both Full-Service (end-to-end pipeline management) and Collaborative (bespoke) recruitment models.

• Fair Start Scotland Transition: JBG worked collaboratively with the Department for Work and Pensions and Glasgow City Council to ensure continuity of support following the closure of Fair Start Scotland. This included direct delivery and onward referral mechanisms, ensuring participants continued to receive appropriate, outcome-focused support toward sustainable employment.

• Child Poverty Alignment: In direct alignment with Glasgow City Council’s anti-poverty strategies, JBG continued its collaboration with the Reducing Child Poverty team. Led by a dedicated JBG Employability Operations Manager, this commitment ensured our employment pipelines directly intersected with families experiencing severe financial disadvantage, proving that place-based, targeted intervention effectively combats localised child poverty.

A significant portion of those we support (30%) are parents, including 14% who are single parents. Among families with dependent children under 5, the majority (85%) have a youngest child aged between 1 and 5 years. These figures demonstrate our reach into households balancing employment challenges alongside childcare responsibilities, and our role in helping them move closer to economic participation.

This data reinforces the effectiveness and inclusivity of our current engagement strategies. It highlights our ability to connect with a diverse customer base, including underrepresented groups, and support them on their journey toward sustainable employment and financial independence. Continued focus on improving data quality and tailoring support to identified needs will help us build on this strong foundation and maximise impact across Glasgow.

JBG’s Commitment to Tackling Family Poverty in Glasgow

JBG is committed to supporting Glasgow City Council's key Grand Challenge: 'Family Poverty – Reducing Poverty and Inequalities in Glasgow’s Communities'. Our approach is rooted in providing targeted, person-centred, and place-based support, ensuring our efforts directly address the unique needs of individuals and communities across Glasgow.

We recognise the pivotal role of Glasgow City Council's Corporate Leadership Team (CLT) in achieving this ambition by providing robust strategic leadership for this critical work across the entire Council family. Their mandate is to drive innovative 'tests of change,' undertake rigorous evaluation, and foster the necessary behavioural shifts required for success. Furthermore, the CLT serves as a crucial point of escalation for all services, even those beyond the immediate scope of the Public Sector Reform governance structure, ensuring challenges are swiftly addressed at the highest level. Crucially, JBG’s Managing Director is a member of the CLT.

Our shared focus is firmly on achieving measurable impact, not merely reporting activity. This means concentrating on a limited number of significant outcomes that demonstrably show positive change within our communities, prioritising quality over quantity in our efforts to reduce poverty and inequality.

Employability Services 2026/27

Jobs and Business Glasgow is committed to providing an inclusive and accessible employability service that actively engages key priority groups identified by Glasgow City Council: Parents/Families, Ethnic Minority participants, Disabled participants, and Young People aged 16 to 24. We recognise the unique needs and potential of each of these groups and are dedicated to a whole-family approach to break cycles of poverty and empower individuals towards sustainable employment.

Our commitment to a whole-family approach will be embedded in all stages of our service delivery. We will initiate support with family-centric assessments, ensuring we understand the broader context of each participant's household, including the employment status and needs of other family members. Recognising that issues are often interconnected, we will actively foster joined-up support by collaborating closely with other agencies and services to address related challenges such as housing, benefits, and childcare, creating a more holistic support network.

Furthermore, we will continue to explore opportunities to offer family learning initiatives, such as joint workshops or activities that encourage participation from multiple family members, fostering a shared journey towards economic well-being. To gauge the true impact of our services, we will implement measures to track our influence on the wider family unit, extending beyond the individual participant. JBG will also diligently collect data on the participation and outcomes of all key customer groups, including families, to rigorously monitor our effectiveness and continuously identify areas for improvement, ensuring our whole-family approach is both impactful and responsive to the diverse needs of our community in Glasgow.

The JBG Business Plan 2026–29 commits to a comprehensive and analytical understanding of our customer base to directly strengthen service design, targeting, and impact measurement. To operationalise this commitment, JBG is establishing a dedicated Quality Assurance (QA) team. This team will drive a systematic approach to gathering, analysing, and acting upon customer feedback.

Rather than relying on retrospective data, the QA function will establish real-time feedback loops to ensure customer insights directly inform continuous service improvement. This infrastructure represents the initial stage in embedding a truly data-driven culture across JBG enabling sharper customer classification, enhanced service targeting, robust evidence of outcomes, and informed strategic decision-making.

The 2025/26 operating year underscores the vital role Jobs & Business Glasgow plays in delivering high-volume, impactful employability services across the city. As Glasgow City Council directs the wider economic strategy, JBG remains a highly agile, reliable, and effective delivery partner, consistently transforming strategic priorities into frontline success.

Looking ahead, the strong overall performance achieved this year provides a robust foundation for the JBG Business Plan 2026 - 29. By removing localised barriers, enhancing resident competitiveness, and embedding data-driven insights, JBG is exceptionally well-positioned to drive further positive outcomes for Glasgow’s communities.

Commercial Property

Jobs and Business Glasgow has a property portfolio that is a legacy of the five former Local Regeneration Agencies (LRAs) which merged in 2011 to become what is now Jobs and Business Glasgow. All but one of the LRAs managed their property interests through wholly owned subsidiaries; the exception being Glasgow Southwest Regeneration Agency which was the “receiving Charity” at the time of merger. Therefore, JBG is in the unique position of holding some of its properties within the main charity, whilst the remaining interests sit within the wholly owned subsidiary called Property by Jobs and Business Glasgow.

The overall JBG property portfolio comprises commercial, operational and mixed-use properties including business centres, industrial estates and childcare facilities. JBG operate and manage circa 250,000 sq/ft of property. The combined property portfolio contributes to the strategy of providing access to good quality office accommodation. As a result this not only meets our aims of supporting business development, with a particular emphasis in disadvantaged communities, it also aims to generate income that will contribute to the Charity’s core services. The majority of the property portfolio is not owned by JBG and many are GCC properties that are leased long term to JBG by City Property Glasgow Investments Ltd (City Property). In recent years JBG has invested in a significant programme of property rationalisation and fabric investment, and in Q3 of the 2025/26 operating year a comprehensive review of the portfolio was carried out.

JBG Commercial Services, including property management, are not a requirement of, nor funded by the Glasgow City Council Service Contract, and they are in fact assets and activities that were managed by the former LRAs. The review of JBG’s structure and services highlighted limitations in managing its portfolio in-house as effectively as possible, therefore in September 2024 all management responsibility for JBG’s commercial property portfolio and asset management programme was transferred to an external professional body, Carter Jonas.

In March 2026 JBG recruited a qualified surveyor as External Property Contract Manager to provide professional oversight on all aspects of JBG property management undertaken by Carter Jonas, and to ensure the assets are well managed and maintained and systems are in place which are fit for purpose.

The 2025/26 operating year has seen a substantially improved performance across JBG’s property portfolio. Negotiations with tenants have resulted in a number of new, sustainable tenancy agreements, substantially reducing the levels of higher risk (tacit) short term leases. In addition the Charity concluded the sale of two properties – Garscadden House in Drumchapel and Saracen House in Possilpark – to Glasgow City Council and the local Housing Association respectively. Both of these sales fully respected the integrity of their local communities whilst realizing substantial capital receipts for JBG.

HR and People Services

Pay and Grades

Glasgow City Council is continuing to carry out a wide-ranging review of its new pay and grading structure (Job Evaluation Scheme), and JBG is participating in this exercise as an Associated Charity. Since the creation of the organisation following the merger of the LRAs, JBG has always had its own pay and grading system and does not operate the WPBR (workforce pay and benefit review) structure that the Council operates. JBG pay arrangements were largely a legacy of the merger in 2011 and the Charity does not operate a pay and grading scheme based on a competent Job Evaluation Scheme. JBG therefore recognises the importance in being included in the simplification of pay and grading within the City Council approach.

In August 2023, a review of the JBG pay and grades structure was carried out by the Managing Director to simplify the roles and responsibilities of all JBG employees. Prior to the closure of the Childcare business, there had been circa forty various job titles and salary levels. This simplification exercise, discussed and agreed with union colleagues previously, reduced this to ten pay grades across JBG, creating a clearer, straightforward structure whilst demonstrating good governance by JBG as an operating charity. It is also hoped that this can help to reduce time and unnecessary confusion once the Job Evaluation Scheme reaches JBG.

Having a competent Job Evaluation Scheme to determine the pay and grading of roles is a safeguard to ensure that the Charity pays equally for work of equal value. Glasgow City Council has adopted the SJC Job Evaluation Scheme, 3rd Edition, which will extend to JBG.

The purpose of the Jobs and Business Glasgow Board-led review of its structure and services was to ensure the operating model remained fit for purpose, delivers Best Value and takes account of new and emerging issues. This has enabled the opportunity to also review and update Person Specifications and address any remaining legacy issues, particularly from the former local regeneration agencies. This will continue in consultation with GCC’s Strategic HR and Unite, JBG’s single union partner, recognising both GCC’s intention to implement a new PGS and JBG’s involvement in this process.

It is important to note that GCC have advised all Arms-Length Organisations including JBG that there may be variable impacts on employee costs arising from the new PGS implementation. These financial implications may result in a requirement for savings to address any additional costs, however this will be managed across the GCC family rather than by individual services or ALEOs.

Staff Development and Progression

Wherever possible and appropriate, JBG has adopted a policy of using external recruitment drives as a vehicle for providing opportunities to its customers for employment with the Charity. This model has proven successful, with a considerable number of unemployed JBG customers having been recruited to the Charity.

It is important that JBG continues to invest in its staff to keep their knowledge fresh, skills sharp, confidence and commitment levels high. To achieve this and to maintain high levels of motivation and morale, the company is investing in staff training and development.

In 2025/26 Q3, the Managing Director carried out a review of the internal structure across the organisation and implemented a series of changes at a number of levels. A new management stream has been introduced, comprising four distinct areas of the business led by Heads of Service/Strategic Leads

•    Finance:                        Jack Stewart

•    Corporate Governance:                 Nicola Pinkerton

•    Frontline Services (Employment and Skills):        Rosh Campbell

•    Property:                    Hugh Blake

All four Leads now report to Zoe Welsh in her new role of Group Head of Services. This move is aimed at enhancing senior management strategic oversight and leadership.

An external consultant was commissioned to deliver intensive, interactive workshops to our Grade 7 Operations Managers. With the overall purpose “To help managers understand the significance of their role in driving team performance, achieving business objectives, and embedding a culture of accountability, support, and continuous improvement”.

A leadership development programme was also commissioned for our newly recruited Grade 6s. Importantly, this course was also accredited with the Institute of Leadership, equipping participants with membership of the Institute for 12 months with access to all the material there. The focus here is on making a difference to them, their teams and JBG overall with the learning and experience they've had.

Meanwhile the purge and data cleanse of JBG’s Hanlon information management system is enabling the Charity to start building a new, more appropriate and user-friendly system. These are practical steps that should go some way to significantly improve efficiency. Added to a streamlined diary booking system, the impending recruitment of Quality Assurance Officers, the review of policies and establishing of a Staff Forum, the Company is confident it has made significant practical changes that should improve the working environment for our staff.

The Charity can also be confident in the quality of the work it is delivering to its customers and will inform and impact performance reporting in key areas such as progress on delivery, customer satisfaction indicators, evidence of wider impact in the form of best value programme reviews and a range of corporate performance indicators.

Impact of the pension deficit / surplus

JBG is an Admitted Body to Strathclyde Pension Fund) (SPF), a Local Government Pension Scheme, and in December 2023 the Board approved the recommendation that the Charity offers all employees the option to access SPF. Approximately half of JBG’s current workforce have now joined the LGPS. The other – legacy - staff pension provider is Scottish Widows.

Meanwhile any deficit would crystalise (that is, be payable) if a cessation event is triggered. A cessation event is triggered if the JBG scheme ceases to have any active members in it, the other employers in the scheme continue to have active members and the pension scheme is in deficit at that time. The surplus in the scheme has not been recognised in the Statement of Financial Position in accordance with accounting standards.

Strategic Report

Criteria used to assess success

In the 2025/26 financial year, the main criteria we used to assess success included:

• Management Development one-to-ones

• Funders/Partners feedback

• Formal independent project evaluations

• Staff/Customer/Tenant surveys

• All-staff event held in Glasgow City Chambers

• External Consultants (Prospero Consulting, Croga)

• Customer case studies

• Satisfactory Internal and External Audit Reports

• Key Performance Indicators

Project evaluations

We continue to collect positive customer case studies for every project to demonstrate customers’ progress and to demonstrate JBG’s role in their journey.

Satisfactory internal and external audit reports

JBG continues to work closely with both our Internal and External Auditors to ensure that we are on a journey of continuous improvement in all aspects of our service delivery. A clean audit opinion from our External Auditors and ongoing satisfactory reports from our Internal Auditors continues to build confidence in our systems of Internal Control. A review of Systems and Controls by Internal Audit has shown significant progress and we are committed to continue this progress.

Internal Audit work is undertaken in accordance with the Public Sector Internal Audit Standards which have been adopted by the Relevant Internal Audit Standard Setters (RIASS). The RIASS includes, among others, HM Treasury, the Scottish Government and the Chartered Institute of Public Finance and Accountancy (CIPFA).

Changes in Charity structures, system developments, changes in working practices and legislative requirements create a constantly changing control environment. Taking these factors into account, the highest risk areas are brought forward in the JBG annual audit plan. Risk is assessed by considering various factors, including the potential financial impact if controls fail, any changes or new processes/systems that have been implemented and the assessment of senior officers and auditors regarding the effectiveness of controls in key areas. These risk scores are weighted and the highest composite scoring areas are prioritised in the audit plan. Public Sector Internal Audit Standards require that the audit plan should be kept under review to reflect any changing priorities and emerging risks, to ensure the plan remains relevant and reflects any changes to the inherent risks at Jobs & Business Glasgow. The Audit Committee are asked to approve any material adjustments to the audit plan.

During 2025/26 Internal Audit undertook three assurance reviews as part of the programme of work approved with the Audit Committee. In total 47 days were available to undertake this work. The assurance work completed for JBG in 2025/26 covered the following reviews:

•    Attendance Management;

•    Stakeholder Engagement;

•    Financial Sustainability.

Overall, auditors confirmed that reasonable assurance can be placed upon the adequacy and effectiveness of the governance and control environment which operated during 2025/26 within JBG.

Attendance

JBG employee absence rate for 2025/26 was 7.2%, with an increasing trajectory. Absence continues to be robustly managed in line with JBG absence and performance management policies, and an updated Managing Absence policy is being introduced in Q2 of the 2026/27 operating year.

Challenges

The Charity had also produced a balanced budget for 2026/27. However, as a result of the continued pressures on public sector and local government funding, JBG will be expected to demonstrate increased fiscal responsibility in the face of reduced income by being innovative in developing and improving its services for the people most in need.

Operating and financial review

The charitable group’s net surplus for the year to March 2026 was £119,722. This compares to a deficit of £853,500 for the year to March 2025.

The charitable group’s total income for the year to March 2026 was £8,865,433. This compares to £8,596,042 for the year to March 2025.

The charitable group’s total expenditure for the year to March 2026 was £9,282,710. This compares to £9,640,161 for the year to March 2025.

In cash flow terms, the bank account showed an in-funds position of £7,763,498 at the beginning of the year and an in-funds position of £8,151,724 at the end of the year.

The charitable group shows an unrestricted reserve of £14,904,879.

At of 31st March 2026, the total funds the Group held were £14,904,879. This figure includes the group's properties, when these and the related dilapidation provisions are excluded, the free reserves of the Group are £7,711,585.

The Trustees have examined the Charity’s requirements for reserves in the light of the main risks to the Charity. They previously established a policy whereby unrestricted general funds not committed should be approximately three months of total expenditure. This is consistent with our objective to slowly and steadily build our unrestricted general funds to a more acceptable level to ensure we could deal with any future cuts in funding.

Policy on creditor payments

JBG has adopted a formal accounts payable policy and within this policy it outlines our commitment to meeting our contractual terms and conditions by running two creditor payments monthly. A formal review process is in place to ensure that all invoices falling due for payment are included in these payment runs.

Our procurement policy differentiates our suppliers into the following categories:

• Low tender contracts where we will contract with suppliers individually. Contractors will be advised individually that our standard payment terms are 30 days from the receipt of a valid invoice.

• Contracts procured through Public Contracts Scotland (PCS).Our terms and conditions are set out on the PCS portal.

• Contracts procured through an existing local authority framework agreement. The terms and conditions will have been agreed by the contracting authority. JBG will therefore comply with the terms and conditions previously agreed.

• Utility Companies. It is not our current practice to negotiate on our payment terms however; our policy allows flexibility to comply with terms and conditions set by utility companies. The payment terms for our utility suppliers range from 7-14 days.

Risk management

Procedures have been established and are reviewed throughout the year to identify, manage and mitigate operational and strategic risks. The Management Liaison Officer is responsible for co-ordinating the Charity’s risk strategy and risk register. Each senior manager is responsible for risk management in their respective areas. Traditionally the JBG Finance and Audit Committee monitored the top five risks, however in June 2023 the Board agreed that the full JBG Risk Register should be presented at every scheduled Board meeting. The following systems and procedures to manage risk have been established:

• Regular Board meetings are held quarterly by the Trustees and Senior Officials of the charity.

• Monthly management accounts, incorporating year to date actuals and projected year-end outturns are prepared and reviewed against budget. These are discussed with the Managing Director and the appropriate Senior Manager and actions plans are agreed and monitored. These are also submitted at a summarised level to the Board.

• Internal controls are in place to safeguard the Charity’s assets.

• An overarching JBG Risk Strategy 2024-28 was agreed by the Board in June 2024.

The JBG risk register reflects all current risks that the charity faces and how these are being mitigated. The principal risks and uncertainties that may seriously affect the performance, future prospects or reputation of JBG – as of June 2026 - are described in the table below:

Trustees’ perspective of the future direction of the charity

The 2025/26 financial year marks a period of strong operational performance and significant strategic progress for Jobs and Business Glasgow. Importantly, it marked the conclusion of a wide ranging and forensic review of the Charity’s overall structure and services, a review that the Trustees are confident has resulted in an organisation that is now far more confident, is clear on its future objectives and – at a financial, strategic and operational level – fit for the future. Strong financial controls and a commitment to continuous improvement in delivering innovative partnerships and services have enhanced JBG’s reputation among its peers and the umbrella shareholder, Glasgow City Council.

It is essential that this increased confidence in the Charity and the vital work that it carries out is seen and recognised by the widest possible audience and the Trustees are particularly pleased to see what has been perceived as a highly successful relaunch of Jobs and Business Glasgow’s corporate brand. Significant progress has been made in raising awareness of JBG across the Council Family, with Senior membership of the Children’s Services Executive Group and Child Poverty Action Group underlining the Charity’s commitment to playing a key role in the wider Council’s Grand Challenge to reduce poverty across the city. Glasgow Futures has positioned itself as the driver of employability policy and delivery in the city, and it is welcome that JBG is not only represented on this Board, but that the Charity also champions Glasgow Futures at a wider level. It is also welcomed that the Managing Director continues to play a key role as a member of the Council’s Corporate Leadership Team, a development that further strengthens the Charity’s brand and status among its peers.

We are committed to successfully integrating our services with Glasgow City Council's overarching priority on family poverty and to working closely with the GCC Corporate Leadership Team to ensure our interventions are strategic, impactful, and evaluated rigorously. Our targeted, person-centred, and whole-family approach, specifically tailored for Parents/Families, Ethnic Minority participants, Disabled participants, and Young People, demonstrates our dedication to breaking cycles of poverty and fostering sustainable employment.

While we are pleased with the progress made, we recognise the dynamic nature of the challenges faced by Glasgow's communities. As we move forward, our focus will remain on continuous improvement, leveraging strategic partnerships, and adapting our services to meet evolving needs.

The public sector in Scotland continues to experience considerable financial challenges. Cuts and savings in local government grant funding has inevitably affected services across the City, and Jobs and Business Glasgow has not escaped these cuts. The impending Scottish Public Sector Reform Strategy will undoubtedly ensure that local government will be subject to similar spending pressures as the rest of the public sector, despite the fact that health and social care services are delivered by local government, therefore squeezing overall budgets and fiscal flexibility.

The Service Contract with GCC is essential to the continuing viability of the Charity, and the expected continued reductions in this funding will hit hard. The success in recent years in securing additional No-One Left Behind funding has enabled JBG to expand our services, but the Trustees note that Shared Prosperity Funding has now ended with no concrete successor in place.

It is against this scenario that the Trustees are pleased with the continued drive in the last operating year to ensure the Charity is in a firm and stable financial position. Assets and reserves are of a level that meet the standards expected by the Charities Regulator, and the Board will continue to ensure strong fiscal management.

The Trustees will continue to support management in furthering JBG’s culture of continuous improvement. Both strategically and operationally, the Charity has in recent years taken a number of difficult but necessary decisions and implemented considerable changes to its culture and services. This has delivered significant improvements and benefits. JBG is now strongly placed to look confidently to the future.

Employee Involvement

The Trustees are very keen that employees are systematically provided with information on matters of concern to them. The Managing Director has participated in face to face and virtual MS Teams meetings with all staff teams and has made a commitment to ensure that staff are kept fully informed of any developments. In addition:

• Leadership meetings involving operational and senior managers were held, to focus on key areas of the business such as attendance levels, budgets, funding etc.

• Senior Management Team meetings are held a minimum fortnightly.

• A Staff Forum was established in 2025/26.

The Trustees are keen that staff are consulted on a regular basis so that their views can be taken into account in making decisions which will affect them. To this end, during the financial year, the following arrangements were in place:

• JBG has a Joint Consultation and Negotiation Committee (JCNC) which meets at least quarterly, and a meeting is regularly scheduled immediately following the JBG Board meetings, to provide comfort to the Union and its members that they are being kept fully and immediately informed. The group consists of the Managing Director, members of the Senior Management Team whenever appropriate, and representatives from Unite, the Union. The forum enables the Managing Director to update the union reps and full-time official on issues such as staff increments, pay awards, terms and conditions, pension.

• An all-staff survey is also distributed annually. The returns are completely anonymous and are used to get staff views on a range of issues;

• All staff receive annual performance reviews;

• Where appropriate, staff are given individual performance targets and KPIs which contribute to the overall Charity targets;

• These arrangements are continually reviewed and developed to ensure they remain fit for purpose.

Disabled persons

The group recognises its obligations towards disabled persons and endeavours to provide as many employment, training and career opportunities as the demands of the group’s operations and the abilities of the disabled persons allow.

As well as being a charity, JBG is also a private Charity limited by guarantee, owned by its sole member which is Glasgow City Council. Although JBG is an independent charity it works closely with its member and JBG staff attend and take part in joint working groups and forums across all areas, including finance, HR, economic growth and business transformation.

The Trustees who served during the year and since the year end (except otherwise noted) were as follows, with the following table showing the attendance of Trustees at Board meetings during the year. There were five board meetings in the period April 2025 to June 2026:

The JBG Board meets a minimum of four times each year. In addition, the Board has two sub committees to manage various aspects of governance and its responsibilities.

In March 2018, the JBG Board approved a motion that membership of the Property by Jobs & Business Glasgow Ltd Board should consist entirely of all existing Trustees of the main Jobs and Business charity, other than the Managing Director.

Finance & Audit Committee

This committee assists the Board of Directors in fulfilling its responsibilities with regard to:

• the oversight of the Charity’s financial statements, auditing, accounting and related processes

• the Charity’s system of internal control regarding finance, accounting and financial reporting

• the property aspects of the Charity and subsidiaries

The Committee meets in advance of every JBG Board meeting, and continues to include standing invitations to both Internal and External Auditors.

The membership of this committee is as follows:

• David McClelland (Chair)

• Peter Marsh

• Councillor Declan Blench

• Councillor Elaine Gallagher

• Councillor Thomas Rannachan

Nominations Committee

This committee makes recommendations to the Board of Directors in relation to:

• the selection of appropriate individuals for appointment as Independent Directors

This committee meets as and when required.

The membership of this committee is as follows:

• James MacGregor

• Mairi Millar, GCC

• Gary Hay

• Alan Sherry

Under the terms of clause 16 of the articles of association, Charity membership is open only to Glasgow City Council. Glasgow City Council as sole member may appoint the Board with a maximum number of 11 directors (trustees) and this will comprise:

• A maximum of 5 directors shall be Partner Directors (Elected members of Glasgow City Council);

• A maximum of 5 Directors shall be Independent Directors (Independent business leaders appointed on the basis of their skills and experience); and

• Managing Director

At the conclusion of each AGM of the Charity, one third of the independent directors shall retire from office. However, there is no limit on the number of occasions on which a given independent director can be re-appointed.

The Charity’s Articles allow for a Nominations Committee to be convened to oversee the recruitment of any independent directors.

Trustee induction and training

A Directors Manual has been prepared and this is made available to all Trustees. This manual describes the various strategic aims of the Charity and its activities and sets out the responsibilities and statutory duties of the Trustees.

Training for the Trustees is provided in the form of a number of induction workshops.

Arrangement for setting the pay and remuneration of management

The arrangements for setting the pay and remuneration of the Charity’s key management personnel is carried out by the Board. Key management personnel comprise the charity Trustees and the Senior Management Team.

Related parties

Due to the nature of the Charity’s operations and the composition of its Board of Trustees, it is inevitable that transactions will take place with companies or other Charities in which a Trustee may have an interest. All transactions involving companies or Charities in which a Trustee may have an interest are conducted in accordance with normal project and programme rules. Trustees are not permitted to participate in discussions or decisions on transactions involving their related business. All Trustees are asked to complete a register of interest’s form which is updated annually and the first agenda item at each Board meeting invites Trustees to declare any interest relating to the Board matters under discussion.

Reference and administrative details

Details of the Trustees, secretary, senior management team, registered office, auditor, bankers and solicitors are on the Charity Information page of these financial statements.

Decision making

The Managing Director is responsible for the day-to-day administration of JBG and is responsible to the Board for the control of resources, seeking economy, efficiency and effectiveness in the use of JBG resources, and for ensuring that financial considerations are taken into account at all stages of decision-making. In particular, the Managing Director:

• enters into normal business commitments and contracts on behalf of the Charity;

• develops, negotiates, seeks funding for and delivers projects and programmes within the scope of the general Charity strategy and operational plan; and

• has responsibility for the Senior Management team.

Senior Management Team

For the financial year we operated with the structure as described in the following table:

Disclosure of information to the auditor

To the knowledge and belief of each of the persons who are trustees at the time the report is approved:

1. so far as the trustees are aware, there is no relevant information of which the group’s auditor is unaware; and

    

2. the trustees have taken all steps that they ought to have taken as a trustee in order to make themselves aware of any relevant information and to establish that the group’s auditor is aware of the information.

Post balance sheet events

There are no significant events affecting the group since the year end.

The charity trustees (who are also the directors of Jobs and Business Glasgow for the purposes of Charity law) are responsible for preparing the Report of the Trustees (incorporating the Strategic Report) and the financial statements in accordance with applicable law and regulations.

Charity and Charity law requires the trustees to prepare financial statements for each financial year. Under Charity law the trustees have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice). Under Charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and Charity and of the income and expenditure of the group and Charity for that period. In preparing the financial statements, the directors are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP (FRS 102);

• make judgements and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and Charity will continue in business.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the group and Charity’s transactions and disclose with reasonable accuracy at any time the financial position of the group and Charity and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and Regulations 6 and 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the group and Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable Charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of the financial statements may differ from legislation in other jurisdictions.

The auditor, Azets Audit Services was appointed during the year and will be proposed for re-appointment in accordance with section 485 of the Companies Act 2006.

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

Opinion

We have audited the financial statements of Jobs and Business Glasgow (the 'parent charitable company') and its subsidiary (the 'group') for the year ended 31 March 2026, which comprise the Consolidated and Charity Statement of Financial Activities (incorporating the Income and Expenditure Account), the Consolidated and Company Balance Sheets, the Consolidated and Charity Statement of Cash Flows and the notes to the financial statements, including a summary of significant accoutning policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

give a true and fair view of the state of the group and the parent charitable company's affairs as at 31 March 2026 and of the group's and parent charitable company's income and expenditure for the year then ended;

have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulations 6 and 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's or parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditor's Report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the Trustees' Report (incorporating the Strategic Report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the Trustees' Reports (incorporating the Strategic Report) has been prepared in accordance with applicable legal requirements.

In the light of the knowledge and understanding of the group and parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report (incorporating the Strategic Report).

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:

adequate and proper accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or

the parent charitable company financial statements are not in agreement with the accounting records and returns; or

certain disclosures of directors' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit.

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the for the purpose of company law and trustees for the purposes of charity law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group and charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Extent to which the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

• the engagement partner ensured that the engagment team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

• we identified the laws and regulations applicable to the group and parent charitable company through discussions with trustees and other management, and from our commercial knowledge and experience of the sector;

• we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the group and parent charitable company, including the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), taxation legislation and data protection, anti-bribery, environmental, employment and health and safety legislation;

• we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

• identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the group and parent charitable company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

• making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

• performed analytical procedures to identify any unusual or unexpected relationships;

• tested journal entries to identify unusual transactions;

• assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

• investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

• agreeing financial statement disclosures to underlying supporting documentation;

• reading the minutes of meetings of those charged with governance;

• enquiring of management as to actual and potential litigation and claims; and

• reviewing correspondence with HMRC and the group and parent charitable company’s legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the parent charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the parent charitable company’s trustees, as a body, in accordance with regulation 10 of the Charities Accounts (Scotland) Regulations 2006 (as amended).

Our audit work has been undertaken so that we might state to the parent charitable company's members, as a body, and the parent charitable company’s trustees, as a body, those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent charitable company, the parent charitable company's members, as a body, and the parent charitable company’s trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

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

The notes on pages 35 to 58 form part of these financial statements.

The notes on pages 35 to 58 form part of these financial statements.

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

The notes on pages 35 to 58 form part of these financial statements.

The notes on pages 35 to 58 form part of these financial statements.

The notes on pages 35 to 58 form part of these financial statements.

The notes on pages 35 to 58 form part of these financial statements.

The notes on pages 35 to 58 form part of these financial statements.

The notes on pages 35 to 58 form part of these financial statements.

These financial statements are presented in pounds sterling (GBP) as that is the currency in which the charitable group's transactions are denominated. They comprise the consolidated financial statements of the charitable group.

Jobs and Business Glasgow's mission is described as "To work in partnership to create a more resilient business base and support residents to compete for employment opportunities in and beyond the city".

The principal activity of Property by Jobs and Business Glasgow Ltd is that of property investment including property development and rental of the developed properties.

Jobs and Business Glasgow is a private company limited by guarantee, incorporated in the United Kingdom and registered in Scotland. The liability of each member in the event of winding up is limited to £1. It is recognised as a charitable company for tax purposes by HMRC and is registered with the Office of the Scottish Charity Regulator (OSCR) under charity number SC023930. The charitable company's registered number is SC108565.

Property by Jobs and Business Glasgow Ltd, a group member, is a private company limited by shares, incorporated in the United Kingdom and registered in Scotland. The company's registered number is SC142446.

Details of the registered office can be found on the Company Information page of these financial statements.

The financial statements are prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with United Kingdom Accounting Standards, including Financial Reporting Standard 102, ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (FRS 102) (United Kingdom Generally Accepted Accounting Practice), the Statement of Recommended Practice (SORP) ‘Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)’, the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended).

The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historic cost or transaction value unless otherwise stated in the relevant accounting policy.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Trustees to exercise their judgement in the process of applying the accounting policies (see note 3).

The Trustees consider that there are no material uncertainties about the group and charitable company's ability to continue as a going concern in the 12 months following the signing of these financial statements. This opinion is formed with reference to positive cashflows, bank balances, surety of funding, general reserves and a forecast balanced budget for financial year 2027/28.

Income is recognised once the group has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donations are recognised when the group 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 before the group 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 group and it is probable that those conditions will be fulfilled in the reporting period.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the group, this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Income from government and other grants, whether ‘capital’ or ‘revenue’ grants, is recognised when the group has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met (see note 21).

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the group to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenditure including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. For more information on this allocation refer to policy (f) below.

• Raising funds expenditure includes the cost of operating investment properties and other associated costs; and

• Expenditure on charitable activities includes Employability, Childcare, Enterprise & Social Economy and other activities undertaken to further the purpose of the charity and their associated support costs.

Irrecoverable VAT is charged as a support cost.

Support costs have been allocated between governance costs and other support costs. Governance costs comprise all costs involving the public accountability of the group and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees together with an apportionment of overhead and support costs.

Governance costs and support costs relating to charitable activities have been apportioned based on actual staff costs in the year for each activity. The allocation of support and governance costs is analysed in note 10.

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 is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Employees of the group are entitled to join a defined contribution ‘money purchase’ scheme. The group contribution is restricted to the contributions disclosed in note 11. The group owed £14,725 (2025: £15,098 to the scheme at the year end.

The money purchase plan is managed by various providers and the plans invest the contributions made by the employee and employer in an investment fund to build up over the term of the plan. The pension fund is then converted into a pension upon the employee’s normal retirement age which is defined as and when they are eligible for a state pension. The group has no liability beyond making its contributions and paying across the deductions for the employees’ contributions.

The pension costs charged to the Statement of Financial Activities represent the amount of employer’s contributions payable to the defined contribution pension schemes in respect of the accounting period.

The group is also an admitted body to the Strathclyde Pension Fund (SPF), which is administered by Glasgow City Council and which requires contributions to be made to its number 1 fund. This is a defined benefit scheme that is externally funded and contracted out of the State Earnings Related Pension Scheme. Contributions to the scheme are charged to the Statement of Financial Activities so as to spread the cost of pensions over employees’ working lives with the group in such a way that the pension cost is a substantially level percentage of current and future pensionable payroll. The contributions are determined by qualified actuaries on the basis of periodic valuations.

The company is a charitable company within the meaning of Section 467 of the Corporation Tax Act 2010. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 of Part 11 of the Corporation Tax Act 2010 and Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied for charitable purposes only.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that:

• The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

• Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the difference between the fair values of assets acquired and the future tax deductions available for them and the difference between the fair value of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.

All assets costing more than £25,000 are capitalised and valued at historical cost. Depreciation is charged as follows:

No depreciation is provided in respect of land.

Mixed use property is separated between investment property and tangible fixed assets if the resulting portions could be sold separately (or leased out separately under a finance lease). However, if the fair value of the investment property component cannot be measured reliably, the entire property is accounted for as a property within tangible fixed assets.

Investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at its fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the Statement of Financial Activities.

Investments in subsidiary undertakings and joint ventures are included at cost, less provision for permanent diminution in value.

At each reporting end date, the 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).

The group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and balances with related parties. Financial instruments that are payable or receivable within one year, typically trade debtors or creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the discounted amount of the cash or other consideration expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an inpairment loss is recognised in the Statement of Financial Activities.

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

A provision is recognised in the balance sheet when the group has a present legal or constructive obligation as a result of a past event, that can be reliably measured and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date. Provisions are charged as an expense to the Statement of Financial Activities in the year that the group becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in futherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at their discretion, have created funds for specific purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or trust deed, or through the terms of an appeal.

Further details of each fund are disclosed in notes 23 to 25.

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term.

In preparing the consolidated financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.

The trustees are satisfied that the accounting policies are appropriate and applied consistently. Key sources of estimation have been applied to the depreciation rates, bad debt provision, dilapidations provision, pension assumptions and principles underlying the valuation of investment property. The depreciation rates have been deemed appropriate for the class of asset. The bad debt provision has been reviewed and has been deemed reasonable. The dilapidations provision has been calculated by a qualified property expert and has been deemed reasonable. The pension assumptions, determined by a qualifed actuary, have been reviewed and have been deemed to be appropriate. The revalution of investment properties has been calculated by a qualifed valuer and has been deemed reasonable.

Support and governance costs relating to charitable activities have been apportioned based on actual staff costs in the year for each activity.

The average monthly number of employees during the year was:

The remuneration of key management personnel was as follows:

Key management personnel comprises the Board of Trustees, the Managing Director, the Head of Employability & Skills and the Acting Head of Finance. Secondees of Glasgow City Council are not employees of Jobs and Business Glasgow. The gross secondee costs are included within salaries in the above figures.

Included within the table is the Managing director, who is appointed ex officio in the Articles as a company director. His remuneration as employee included salary of £97,032 (2025 - £93,300), pension contributions of £3,270 (2025 - £3,144) and social security contributions of £13,804 (2025 - £11,620).

The trustees are not in a position to disclose the benefit to the key management personnel from the actuarial movement in the pension scheme as in the Trustees' opinion, the charge by the actuaries to obtain the information was disproportionate to the benefit of the reader. They did not consider this appropriate use of charitable funds.

The fair value of the investment properties has been arrived at on the basis of a valuation carried out at 31 March 2026 by Graham + Sibbald LLP, Chartered Surveyors, who are not connected with the group. The valuation was made on a fair value basis, by undertaking an inspection of the properties. The inspection and valuations were undertaken by an External Valuer as defined in accordance with the RICS Valuation - Global Standards ('the Global Red Book') and having regard to the UK national supplement.

Property by Jobs and Business Glasgow Ltd - £100 (2025: £100) (100 ordinary £1 shares). The trading subsidiary is wholly owned by the charity and operates various commercial properties. The company's registered office is 94 Duke Street, Glasgow, G4 0UW. The financial activity of the subsidiary is detailed in note 3.

Group trade debtors is shown net of the bad debt provision of £101,674 (2025: £101,808). Charity trade debtors is shown net of the bad debt provision of £31,965 (2025: £20,555). Movements in the bad debt provisions are included within support costs.

Amounts falling due after more than one year

The charity has amounts due from group entities of £nil (2025: £45,287) due in more than one year. The unsecured balance is being repaid in equal instalments until November 2026 and interest is charged at 3.5%.

Securities

Historic Scotland hold a standard security over Scottish Land Register title GLA193986.

Glasgow City Council hold a standard security over land at Saracen Street, Stonyhurst Street, Carbeth Street, Kilearn Street and Teucharhill Development site.

The Scottish Ministers hold a standard security over Blairtummock House and 18-20 Orkney Street.

Scottish Enterprise hold a standard security over 18-20 Orkney Street.

Deferred income is included in the financial statements as follows:

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 employability restricted fund provides engagement, advice and guidance to clients at all stages of the employability pipeline.

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.