Stranraer Water Sports Association SCIO
For the Year Ended 31 October 2024
Cb*rlty No: SC049268

Strgnraer Water Sports Association SCIO
Contents of the Financial Statements
Year ended 31 October 2024
Page
Reference and Administrative Infonnalion
Trustees, Amiual Report
Ind¢pend¢nt Examinels Report
Ststemeni of Financial Activities
Balance Sh¢¢l
Notes to the Financial Statemen1$
10

Stranraer Water Sport$ Associ%tioD S￿0
Referenc¢ and Adn)ioistrativ¢ Infonn*tioll
Charity Name:
Stranraer Water Swirts Association SCIO
Charity Registration Number:
SC049268
Contact Address..
The Boat House
Agnew Park
i￿9 7JZ
Trusle
Chaiman and Trusu
Indcpcndent F.Yamlner
Mcmillan Bain & Compan).
27 High P￿k Avenue
Sirdnraer
DG9 ODE
Bankers
Th¢ Bank of Scotlan4
15 Bridge Stseet
StraI￿aer
I￿9 7JA
Page 3

Strnnraer WAtsr Sports AsJod*tion Sao
Trustees, Anrtual Report
Year ended 31 October 2024
penod ￿ded 310th 2024.
Strueturn. GoverDanc¢ *nd ￿nagem¢llt
CoA&ltutlon
Th¢ Ch8ri¢y is 8 Ill￿ (h8*htsa¢WD 14 SCIO). It ies
¢urrent legal fomi on l M4y 2019. 1¢ hx a tKr and aB s￿h the trwc¢J m*¢ w tx
some oftht nKthb¢T5 of thc Cknty.
k￿l￿￿t￿¢￿t aid Appolnthxmt of TrYst¢
Tnutc¢s ar¢ appou)ted by the at th¢ ¢Jener•l third of the
St￿ gre 8pposntsd ty rt4>w>uJi¢d ¢¥h yeu.
Obl¢ttlvu And Attlvlllts
Cknyltsbh Porpo
The adv*)tetr￿l of publi¢ p¥¢]¢1p￿1Dn En wrt and the of f￿]￿¢5. L¥ the
Or8￿1¥￿10n of recreaiiond &Laiviiies, with the objed of the &￿￿'ll0￿ of lift fw the
perwns for whtsm ¢1* Or4￿1V￿1￿8
A¢tlYltles
l Establish maD)iain *'wa¢ersporL4 centr. w frrft¢r th¢ of￿1 W*T SPO
duduL8 l￿ttl0u8h ZLOI Mjdwivcl $iilin& wmd gJrfin& knyakth& skJ"ITrowip& wat¢r
3. CTezl¢ an wocioti(XL th1lwnbra￿ a8ts •Jd 8mWJS. SFrtJfi¢dly t4bjn8￿lttIQ sitys to
encoura8¢ pthKiwion ofth¢ disabled di*fv*tA8ry1 b%kwrth.
4. Provide Fxiliiies ￿ Bpproved w4wbme ￿1vIlle￿
6 Or8Ani4¢ 4ny r￿In8 undwth¢Thles of the ISAF. RYA. ICF. PW& SCRA d04Tyk5
m8y b¢ 8ppliG8ble 8nd opproryi4¢.
7. Provid¢ w¢iEI fw"Jiii¢J f(¢th¢benefit 0fm￿ofts SWSA ￿ 4yord by thr
its opporLuDitie&
P4y4

Trnst¢es' Report (fODL)
YeAr tMded 31 October 2024
A¢hlevtmtllts ittd P¢rforniAii¢e
l Te]M)rted In1&4t y¢w's f5nanGial slat¢ttMI Ihe y￿st.5 SU¢C¢5s in se¢uTing fundsng of £5.4tn ￿WardS
the buildttigof ow W*erSP￿ts hub gt the ttint ¥thcdulcd to k complffl¢d by the summ
of 2025. Sub5¢qu¢fLi r¢visiollof te[￿n desiwj features Costin￿ incte&%tJ th¢ fin￿ budgetto
£0.7m nece&sitaiinB the $uc¢e5slu] ge4rch for &lditiorLg1 fimding" a co])5¢qu¢nce of thL% th¢ d¢lay
in the gi8wn8 of contract8 and necessary le8¥J cons¢nts findlly tnfibling building lo ¢ommenee mid-
October I •n plelqed io confirm thAt the appointed contractors ar¢ now on slt¢ worknn8
h8ndin¥over8 comple*d buildin8 in the carly summerof2026 Collabotation with thecouneil's
M￿MIDtV¢[0plltht (¢am under the obj¢ct)vts of Ihc"f)ne Wit¢rfronl" proJe¢i with
MannaexpanSLOll WOTks plonn¢d to Com[t￿¢¢ with dr¢dgmg of the Jnn¢r harbour in Aututrm of thL%
ye4r. Th¢sc works towher with the r¢rr￿Val otmthore rock¥ sto old sewer oknileLs b¢sid¢ the Eaqt
PieT will marktdly decre&se the dep¢nden¢y on high tides lo nmke th08e areB$ #v&ilabl¢ for luiiion.
W¢ ¢oniinued loemploy two full lime, qualified iDStrudoTS who train￿ $ ¢orp5 (kf Youn8
Insbuior& to ￿51St Ihcm in rnnnin8 vllrious wot¢r-ba5¢d aciiviiLes. Th¢iT iniiiaiives in developirtB
the Kids Club and worknng with local ￿007,5 group8 been gn ouistandin8su¢ce55 and dcslin
10 Brow s¢rnn8ly in 2025.
A $ub¢onunillee ofTrus￿S 8nd mcmbersof Ihe SCRC w&8 Xl up lo Pl￿ *)d r8i8e lknnd$ forthe
SkiffieWoTldi 2025 event with thkes ploce in July.
W¢ ¢ontinu¢ to develop md inprov¢our govcrnancewietn8 in ittms ofpolicie5 and compliance
Bnd haverecerttly bttom¢ F•ir Work Employer complimt.
FlIAL¢l*l Revl¢w
Th¢ pruJ¢iple SQUT¢¢ Otincome is thTOU8h ¥u¢cw8fv1 t￿ndIng applic￿10￿$.
The defi¢rt f¢rthey¢w w*4 £65,144 IPY. deficit £74,097).
Re¥¢TYU Poll
Th¢ SWSA is kn umbrella OT88nis8tion who's purpose Is to suppori the devtlopm¢ni ofwai¢rJport
Ii¢Lpaiiott. So our finHnces for th¢ ¢¢ntro18¢)vite8 w¢ provide to our affilithed clubs and in
dev¥lopiD8 wat¢r sporty for Ihe ￿MmunIty. bui not thr ￿nDin8 of the clubs themselve5. We op¥rat¢
a poli¢y of ke¢pin8 ￿ec$s av8ilftbl¢ & possibl¢ by lJinilin8 our membership f¢¢5 10 th¢ lowr
leve] we can. We achieve this by knowing v¢ry ¢1￿1Y wh&t ow tixed co9ts aT¢ Rot conunittin
lo qny tm¥ costs IhAI we don't have ¢ovcrJ8¢ for in 8rqnl or other inwme.
Payc J

Trustees, Annual Report (eottL)
Year ended 31 Oetober 2024
Pl*•¥ f•r th¢
The Hub GL¥Dnxnced *ith a wnVk￿n d* in m#i2026, wkLL81 I￿1[ r
iDi¢ttd¢d tobc avwiabk forSknffieWorld4 thcplw of altttn&ive faCJli￿S
tbe hub's ￿￿. a￿lIability is Doi vi¢¥wtd us iw d¢rrThnrDr￿ w the ev•rt A fie4 of th.ngh
wijl be purchH*d to f￿]]it￿>S8l1lO8ftsrkIds orAI xhool's
All in all. 2023.24 ha% been a s￿¢¢$$￿ y¢u on]y in of tho Hub Bviid ]rye¢t
bu¢ 41so in achrving and preyarinK for Skiffiell'orldq 202$
Club, and schr￿] a rtsw ofswlmg on the locl TOWiDg end In
cr¢￿ing Trumber ofy0￿￿#￿S tr0]nll￿ insthrn of
The Tnr*etr 4rrlre thr trPT,-,I"LL4 th: Tni-.tj.

Stranraer Water Sports Association SCIO
Independent Exan)iner'J Report
Year ended 31 October 2024
l report on the ￿0￿ntS of the cljatity for the period eThled 31 October 2024 which set out on
pages 8 to 16.
Resp¢¢tiY¢ ruponsibilitiu of¢ru5tecJ and exanlmer
The charity's trn￿tee5 are responsible for the weparation of the accounts in ac£ordance with the
tems of rhe Charities and Tntsiee Investment (Seotland) Act 2005 and the Ch¥ities Accounts
(Scotland) Regulations 2006 (as arnendal).
The Gharity truslccs ￿NsIder thal the audii Tcqultemeni of RegUl￿oll 10( I) (a) to {¢) of the
ACCO￿15 Regulations does not apply. It is my resp￿sibility to examine the accijunts as required
under section 44(1) (¢) ot'the Act and to siaie wkther particul& rnallers have ¢(xne lo my attention.
Basls trf illdepend¢•t tuminer's ststement
My examination is carried out in accordance wtth Regulation I I nf the c.harities Accoiints
{S¢otland) Re8ulaliim$ 20n6 (a$ arnended). An ex2minalion includes a Teview of the accounting
records kept by the charity and a Comparis￿ of the ￿ounts presentsd with those r¢¢ords. It also
includes ¢on$ideration of any unusual it¢ms or disclosur¢s in th¢ accounts, and seeks explanations
from the IrLLSt¢¢5 Gonceming any such matt¢rs. The pr(KcduTes urKlertaken do noi provlde the
evldence that would be requir¢d in an autil, and consequently I do nol express an audit opinion on
the view given by the aecounts.
IndependeAt examlner'8 statement
In the course of my examination. no nwtter has come to my attention..
which gives me re&sonable to helieve th•t in any material respect the requirernents:
to keep accounting records in accordance wilh Section 44(1) (4) of the 21N)5 Ael And
R¢8ulalion 4 of th¢ 2006 Accounts Regulatiom thm¢ftdcd>. and
to prepar¢ a¢wunts which with the acCO￿ting records and comply with Regulatlon 8
of the 2006 Accounty Regulations las amended) have not been md. OT
lo which. in mw opinion. altention should be draii'n in order to enable a proper undff5tanding
oiiipdn J.
27 High PaTk Avenue
Stranr&er
DG9 ODE
Date.. 26 March 2025
Page 7

Strallraer W8ter Sports A&vi•do* SCIO
ststemelll of Financial Actlvltl
YeAr ellded 31 October 2024
Note
FuDds
2024
F¥ndi
2024
Totsl
2024
Totsl
2023
Income fro•:
Don￿19￿5 and legxies
ChaTÉtable ￿tivItIeS
Othcrtrading aL#ivrti¢s
331625
332,625
22.867
1.3
249,342
19.538
22.867
i J
Totsl Incom•
24.167
332,625
356.792
269.080
KI￿ndit￿re on:
Charitttbie &tivitses
Tot*] ¢xylldltyr•
16294
16294
275,354
275.354
291.648
291.648
343.177
343,177
N¢t 5M¢Ohbl*R reJOU￿
7.873
s1.￿1
65,144
{74,0971
3,3JO
(3JJO)
Net movemffit ID
11,223
53.921
74,097
R¢coDellkntion of fttndL"
To¢aJ fund5 brought foThY¥rd
Tot•1 tknnds urTl•d f•rwArd
130.219
141A42
66.699
120hiO
196.918
262.062
309.911
235114
Page 8

Stranraer Water Sports Association SCIO
Balance Shett at 31 Oetob¢r 2024
Unres¢rided R¢*ri¢ted
Funds
FuDds
2024
2024
T*)¢al Finds
Total Funth
2024
2023
Mx¢d Au•t4:
Tttnsibl¢ ass¢ts
Investments
128.057
73 J47
201,404
150.333
Total Flxed Asstts
12&057
73J47
2DI.41M
15OJ33
Current
Debiors
CLsh at bank Bnd in hand
Tot41 Current knets
L4*bllltl•
9.975
37.298
47373
9,975
51,978
61.953
14.680
127,434
127A34
Crc¢Jilor¥ f￿lin¥ due within one year
Net Curren¢ Ag8¢ts
10
1294
13J86
1.294
60.659
3,943
123,491
47373
Creditor8 fa]ling du¢ aft¢r thanone y*ar
Asseti
141,443
I20￿10
262,062
273,822
The fund$ of the ch•rity:
Restricted income funds
UIur51ri¥ttd iJKoine fuThls
Total chArity fumds
13
120.620
120,620
141,M2
262,062
66.699
130,219
190,918
141,442
141,442
1211620
on their behalf by..
Pa8c 9

Stranraer Water Sports Association SCIO
Year ended 31 October 2024
Accounting PolleSes
The principal a¢¢ounting policie5. which have been applied consistently in the current and preceding year in dealing
with items which are considered material to the accounts. are set out below.
Basis of PTepantioD
The financial statements have l*en prepared in accordance with Accounting and Reporting by Charities.. Statement of
Recommended Practice applt¢able to charities preparing th¢iT accounts in a¢¢ordance with the Financial Reporting
Standards applicable in th¢ UK and Republic of Ireland (FRS102) issued on 16 July 2014 and the Financial Reporting
Standard applicable in the UK and R¢public of Ireland (FRS102), the Charities 8nd TTUSt¢e Investment (Scotland) Act
2005 and the Charities accounts (Scotland) ReRulations 2006 (&8 amend¢d).
Fund *ecouDting
The funds held by the charity are either:
Upweslrictgd gexeralfimds - thes¢ funds are expendable at th¢ discretion of the trustees in furtheran¢e of the objects
of the char&ty. If parts of the ut)restricted funds earniark￿ at the disuetion of the trustees for a particular purpose,
they are designated as a separate fund. This desigDation has an administrative purpose only and does not legally
restrict the trust¢¢s' dtscretion to aDDly the fimd.
Restricledfunds - these ar¢ fimds subject to specific requirements as to their use which may b¢ d￿lared by the donor
or with their authority or creatsj through legal Processe4 but still within the wider objects of the charity.
Ineolning ruouree
tncome is recognised when the clwity h&s entitlement to the funds, any F*rfornw)¢e ¢onditions attach¢d lo the item(s)
of income have been mel it is probable that the income will be received and the amount Can be M￿ured reliably.
Don*ted serviees and f¥cilities
Donated professional services and donated fa¢ilities are recognised as Income when the charity h&s control over the
item. any conditions associated with the donated itetn have been mec the receipt of economic benefit from the use by
the charity of the item is probable and that economic benefit can be measured reliably. In ¥cordance with the
Charities SORP (FRS102) th¢ genernl volunteer time of volunt¢¢rs is not recognised.
On receipL donated professional services and donated facilities are reCO￿lS¢d on the basis of the value of the gift to
the ¢harity whi¢h is the atnount the charity would have been wklling to pay to obtain setvi¢es or facilities of equiva]¢nt
economic b¢nefii on ihe open markeL a cotresponding amount is then reCo￿lsed &s expenditure in the period of
receipt.
Interest receivable
Interest on fiinds held on deposit is included when receivable and the amount can be measured reliably by the charity.
this is normally upon notification of the interest paid or payable by the Bank
Page 10

Stranraer Water Sports Association SCIO
Year ended 31 Oetober 2024
Flxed A88ets
Tangible fixed assets are included in th¢ balance sheet al cost or at market value at the date of the purchase or gift.
Depreciation is provided on all tangible fixed &ssets at rates calculated to write off the full cost or valuation less
estimated residual value of each ass¢t over its estimated useful life. The principal rates in us¢ are..
Property
Plant and Equipm¢nt
Office Equipment
Oyo
200/0 reducing balance, 25Yo Strnight line & 33.30/0 Straight line
200/0 reducing balance
Investments
Flxed ￿Set investmenis are slated at market value at the balance sheet date. Unrea]ised gains and losses represent the
difference between the market value &1 the beginning and end of the financial year or, if puwhased in the year, the
difference beiween cost and market value at the end of the year. Realised gains and losses repr¢s¢nt the difference
between the proceeds on disposal and the market valu¢ at the start of the year or ¢osi if purchased in the year.
Taigtlon
Stranraer Water Sports Association is r¢¢ow)ised as a charity for the purposes of appli¢able taxation legislaiion and is
therefore not subject to tsxation on its charitable activitieg. The charity is not registered for VAT.
Pagell

Strnnr*tr Watersports AsSOCiatlon SCIO
Nolts fonning part of ibe financi•l stattmttjts
YeAr tnded 31 O¢tob¢r 21124
Unrairkte
Fynd5
Funds
Tot*1
2023
D&GCounLil
Swh ofsrLrt1￿dEnier￿$￿
Bi8Lortery
Th¢Holywth)dTnMt
D&G Re￿￿1 Iljroj
VisioninÉ Fult
S(*titshCourt
1)0 $111025
D￿1 IAJF
strknrAU Skllls SIthL
1Th.248
10,é*2
47.
9,975
170248
10.682
47,000
9975
150.024
10.6
61.632
10,w)
10.0
7,196
0.4(k)
112JO
72,570
2.500
2.000
332.é25
iijso
72.S70
2J
332.62J
2 Intorrtt rhirtthbknuii¥ltl
18296
18296
L¢ts G¢tW¢t
Ful& Fcil
4 J23
540
540
) l•come froN•theYiT*dlniArllvhl
IXi* ofBo
5.300
I JOD
ij
Page 12

Str4nrA¢rW*trrSports Ajsociatim SCIO
Ye*reDded 31 O¢tobtr2024
T*X
S AMtysb•fEw
Bul Sw Fe¢s
lJ72
4.475
4.175
225
150
IA16
75
413
SA13
2J.167
sBJi$
4TF
1,733
12.725
96.620
GrfW*
SUffle Worlth
Fin* Foil
144
IB,976
144
1&976
3356
6.176
21.8ty)
144.730
1)8.554
Fwbijitysp
I)6￿7
136M
237*32
l J31
1.705
lJ31
I38.￿
239.m
Tq*T
275
Py13

Stm￿rIerWI1¢r SpoFts A￿oCIatIOn SCIO
r4thts formiug PArt of Ihe fin4Dci*I $tst¢ments
YtArtnded 31 O¢tober 2024
2024
20LI
fj St4ff¢05ts4￿d
47,895
29288
S(*1￿ se¢urityrow
Pensir
902
48.797
508
29.856
Thr aWTMmbcTof¢wioyK5dUrinBihe5rarth*8&4follo￿.'
2024
Numkr
20
F4umber
[n5m￿L¥s
7 TrutheR￿n￿￿tr•IknIItyJ RtJitedPgrtyTrwA¢lloni
Page 14

S¢r*iraerWakr Sport¥ AJsotl•tlM SCIO
Note¥ formtig of th¢ fth#uilll st•¢¢*¢mts
Y**r¢Dded 31 Ottober2024
Pty&t*
I15P34
.ffj64
77hJl
192.
ll961
AddillOTd
Ai31 (￿b¢r2￿?4
It9928
At I NDvcnth202J
42J32
41332
21.Th)
At31 thwbtr2024
6V21
NÈtBMkV•
Al 31 (knobtr2024
AI 31 OMote¥202J
IiSOJ4
W99
I￿J￿3
9 D*bt•
Fin& Ftél
9.97$
9.975
l• Crtdh•rt
Cr*li1tyS
PAYT & NIC
P4e 15

Str&#rxtrW¥ttrsportsAs￿kntltim Sao
Year ¢odtd 31 Ottobtr2024
73J47
201.404
47373
01953
(1294)
(1294)
141.443
IX)b20
262.(￿2
12 VthMt¢¢rs
13
Atjl c*tobeT
146.105
{IIV51)
(138.027)
{18.9761
5J54)
13270)
(5JTh5)
91.183
29.437
Skn'fffj¢w￿$ts2Q2S
13.79)
33162$
(3J50)
120.620
uDvUtr￿ted ￿￿ts..
24.167
24.167
(10294)
(10294)
3J50
3J50
141.442
141.442
13021
196.918
356.W2
Q91.648)
262.062
Pyl6