REGISTERED CHARITY NUMBER: SC052143 CALEDONLA GLADIATORS JI¥ THE CoMlum Report of the Trustees and Financial Statements For the year ended 30 November 2025
Caledonia Gladiators in the Community Cont¢llts Pages Report of the Trustees Independent Auditors, Report to the TteeS of Caledonia G]adiatots in the Community Statement of Financial Activities Balance She¢t io Ststement of Cash Flows li Notes to the Financial Statements 12-17
Caledonia Gladiators in the Community Report of the Trust For the year ended 30 November 2025 The Tryste¢s present their report with the audited financial ststements of Caledonia Gladiators iTJ the Community (the 'Clwity) for the y¢ar ended 30 Novetnber 2025 (refetted to as "year" or"2025" throughout the finaThciai statements). Structur4 goverJwi¢e 4Dd management Caled¢)nia Gladiators in th¢ Community is ¢onstited as a Scottish Charitable tn¢¢xporated Organisation. The orgallisation is gov¢rned by its ConstilutioD and is Jnanaged by its Board of ClJaTity Trustees. The Constitution provides for & Board of ai least three and llo more than eight Clwity Trustees. The Board rnay appoint eligible individuals as trustees by majority resolution aud may delegate defined responsibilities to office-bearets or 8ub-committtts, subject to appropriate reporting arLd oversigbL During the period. the Board continued to develop its governance arrnwellts, including considerntion of Board eompositio confiicts of interesl financial oversigbt aud the reckuitjneut of all independeot Chair. Anthony McDaid served as Tnt1 Chair duritig the period. Tn£ytee recrnilment, appointhienl and developma Thteel ar¢ appointed in acwrdance with th¢ CoDslithtion. In Colder]llg appointm¢nts, the Board s¢¢ks an appropriate balance of skills. experience, illdep¢ndence and knowledge relevant to the Trusvs cl)8titable pwposes alld activities. Durillg 2024125 the Btydrd idelltified the value of strengthening independent governallc¢ and aed to progress the recrnitment of an indepeniknt Chair with r¢l¢vant govetDaurk experience al independence from the operatioual activities of Cdedonia GladIar$. Cotylicts ofinterat Th¢ Board recognis¢s the Importan of identifying, recording and appropriately managitig adual or potential coDfli¢ts of inte8t. Trustees are exped¢d to declare relevanl illterests alld Dot participate iti deci5i¢)n5 where a confii¢t requires their withdrawal. w&% partiadarly relevant to the long-terrn sub-lwe of the and FaDzone. Stephen Paul Timoney and Alison Reid-Timolley declared their interests in SART Investments LtsL tbe tandiord, 2nd withdrew while th¢ remaining Trte& considered and approved the traDsactioll. Cbaritsble purposes and aCtitte5 Th¢ TnL8t operates for th¢ benefit of the public as a non-profit distributing eharity. Its PTincipal putposes are.. to advance publie participation in b&8ketball by creating opportunities for people of ail ages attd abilities to participate. to support the tnwrovement of facilities for basketball ill Scotiaol. to promote coachJn& officiating and volullteering OpTttiltits and accredxtation,. to supportpeople experiencing disadvantage by reason of age, ill-health, disability, financial hardship or other dtsadvalltage. to advance learnin& lead¢Tship and developro¢nt opportutiitie$ for athletes, coaehe$, ¢lubs, voli]nteers alld officials" to support projects alld initiatives gned with national basketball d¢velopment stragi¢s" and to advance public participation in a range of sports throu8b the utiiisati¢x] of the Arena and FaDzone. The Tht seek5 to achieve these puws¢s througb Co]ty basketball, youth developmenL school alld education activity. oaching and volunt¢¢ring paitierships, facility use and der sporting and community activity. Activitfies, aehievemeDts and pub]ie benefit 2024125 was an important devcl¢)pment year for the Tt. The principal $trdiegic development W&5 securing a long-tenn inl¢rest in the Arella and FaDzone at Playspor¢ providing a penDan¢nt base frotn which the charity call deliver and expand its putposes. Basketball remained the wjtral vehicle for participation and developmellL with aetivity focused oll creating routes from first participation into regular comrnunity basketball alliL wbere appropriate, progression into Club aud pathway activity. The Tht also developed links with scho(Trls. families. volullte¢r5. universities, sporling orgdnisfttions aTLd COnUnity partllets. These relationships support the wid¢r objective of wing sport as a meons of ct¢aliag oppoituttity. confidence, belonging attd con]mullity coDn¢¢tion.
Caledonia Gladiators in the Community Report of the Trn8tees (contknued) For the year ended 30 November 2025 ActhtReS, achievements and publlc benefit (ntInued) Reporling-pertodnole The TtU8V5 separate Impact Report coveTr December 2024 to November 2025 and showcases the development aud continuing ptsbJi¢ benefit of the activities at facility platfotm established ¢luTing the year. For context, that wider reporting period records 219 regular youth participanty 130 pathway piayetE, 144 dub fL¥tt]res, 11 weekly hub sessioDS. five camps. stx competitiou$, basketball $¢ssion5 in 22 South Lanarkshire schools and wider ticketlcorntllunity engagement with approxitDately 100 schools. Securlng the long-ttrm interest In the AreDa gnd Fanzone A DjOr milestone during 2024125 was the Tn secuTing a long-temi interest itt Units 3a and 3b at Playsport. cotiyising the Arena and wociated faciltti¢s. The transaction pt(>vides the TnLgt with long-tenn security over a substautial spoiting and commutiity facility and cr¢ates a perman¢rAt plarfomi from which tbe Trnst can d¢liver community baskethall. youth dev¢Lopmen¢ schoo]8 activity, eoa¢h and voluute¢r development and wider sporting gmd cornmunity use. The Board considered the transaction fornjally. The conue¢ted Tnw¢¢s declared th¢iT interests and withdrew frotn the meettng while the reIllIng Tntste¢s considered and appr(>ved the transaction. The Board concluded the traDsacti¢)o was Ill the interests of the organisatiott and sUPPOrted the delivery of its c]JaTitabl¢ puryoses. FIDan¢] rejdew Th¢ 2024125 financial statements should b¢ read in the ¢ontext of tb¢ Significant long-lern) asset8 s¢cured by the Trust during the year througb th¢ donation of the Aren4 FaDzone and &8swiated assets. The recoltiOn of th¢se donated &s8ets results in a sigtiificant amount of iucome being 0Oised in the 2024125 financial ststements. This Is a nou-recurring a¢)ltIll¥ benefit arisitig from tbe traDsfrr of the &ssets to the T[St aThd shollld th¢refore be distitiguished from the Trusts underlying operational iDcome alld expenditrjre. The recognition of these assets also gives rise to a material attnual deprecitition chaTge. reflecting the allwation of their caYing value over their esttmat¢d usefill accouniang lives. Depreciation is a nOna3 accowititis ¢harge and thKs not Tepres¢nt an equivalent aDnual cash payment by the Trust. As a resul¢ the Ttust is ¢xpected to r¢port all accounting surplus for 2024125. principally refi¢rting the illcon7e recogtiised in c¢)]uiectiott with the dollated assets. The underlyitig operdtional perforniance of the Trus¢ excluding the IpaCt of tbe donated a55ets alld associated depreciation, is also expected to be positive, with the Trst generating a s1 operatiti8 sulus. Lookng forwar4 the significant value of the &s8ets recogni5ed in 2024125 wilI result XIL mat¢rial annual depreciation charges in fjjttwe financial periods. Consequelltly. the Thist report accounting deficits in tUre year5 despite maiDtaining a w)sitive underlying operdtional and cash p)sition. The Board considers it IMrtant that the reported accounting r¢sult is considered in the Context of these sigtjificant llOn-c&sFA and rLon-reeurrmg accounting entrieg, and that the underlying operational and cash perforniance of the Trjst is also coJ2sider¢d when asse&ging its fil181 sustainabijity. FiFncIalSfftary DeKriptioll Total incollLe Operating expenditure before depreciation Underlying operating SuluS Deprwiation movernent in funds Cash at baThk and iti haDd Total funds at year end 2024125 {£) 11,774,024 300,733 11.156,447 316,844 11,156.447 9,562 I l.l56,447
Caledonia Gladiators ID the Community Report of th¢ TStee5 (contiDued) For the year ended 311 November 2025 Flnalleial revieiv (contÈnued) Reservespolicy Th¢ char]S objective is to mtiilltain Sufficient reserves and liquidity to support the ongoing delivery of its clMritabl¢ ivities al meet its obligations &8 th¢y fall due. At 30 November 2025, the Charity held ullrestticted funds of £11.16 Millio sub5tarLtially all of which wer¢ represented by the donated Arella and associated fixed assets used directly in fjjrtherance of the Charity's charitable puTroses. As a resul¢ the majority of reserves aTe not readily available to fiu)d daY-tdaY operntions. Free reserves, represented by net current asset4 amounted to approximately £24.0(K) #t the year en¢1 The Chkrity's recwring opeTrtionai ¢osts are currently in the region of £3(M),000 pu annum. Th¢ Trustees recogtiise that future depreciation eharges on the donated fixed assets will reduce reported r¢serves over time. How¢ver. as these ¢harge$ ar¢ non-cash in llature, the Trustees cot]sider the Charitys ability to generdt¢ sufficient income and maintsin adequate cash resouwe5 to be a more appropriat¢ measure of fjnallcial resilience. The Trustees r¢vi¢w the CharlS rerV position, jiqllidity and funding requirements on an ongoing b&sis and Consider the cutrent level of resources to be appropriate. Going concern The Trustees have considered the Trust's financial positioty c&%h resources, ¢oroDJilments and future platts. Subject to confirnMtioD througb tbe fitjal aecounts and audit process. the Trustees consider tbat the TN5t adequat¢ r¢80ur¢es lo contillue its ticlivities for the foreseeabl¢ future and tbat the goiug concern basis of preparation 15 appropriate. Princlpal rlsks and risk management The Tr$te¢S T¢¢ognise their responsibility for identsfying and managing the principttl risk5 facing the charity. The main areas of risk include.. fit)alleial sustainability, including th¢ Deed to maintain sufficit recurritig income and liquidity" property and flIlty obligatiODS arising from the long-term Arn and FaI)lle sU]ea. incluthng service charges. utilities, nllintenan¢e and compliall¢e costs,. related.paty and ¢onfiict•of.intet¢st risL nwLaged through dlalOnS, witbdrawal from ¢onfiicted decisions and BoaTd oversight. safeguarding and welfare ID progran]mes illvolving Childr young peopl¢ and vulnerable participants. heatth. safety, licensing aDd event compliane¢ associated with operntiott and use of a major sporting ts¢ility' Teliance on partner orgaDisations and the need fo¥ tr8nsparen¢ docuttt aTrangements where services are delivered on tbe Truses behalf. and the need to evsdellce public b¢Defit and ensure that eharitable assets and resourc¢s remain directed to the Trust'$ PUTPOSes. The Board's approach is to review maknial risks through its governanc¢. fuwcial alld oper&tional oversight and to tske proportionate action lo mitigate those risks. Relationships wlth ¢ODnectsd And partner OrganitiOns The Tnt op¢rales within a wider Caledonia aThd Playsport enviroDment and works with a range of sporting. edueatioffj thritable alld eoujmunity parkners. Caledonia Basketball Lid has supported comrnwnity activity and Ims provid arxes5 to professional play¢rs. staff and operational apability. The Board rccognises that the Trust and Caledonia Basketball Ltd ar¢ separate legal entities aTLd that OTrangements between them must be IraDsparent, appropriately documented and demonstrably in tb¢ inlerests of the charity. The Trust's long-terllL int¢rest in the Arena and Fanzone is held under a $llb-lease from SART Illvestttts LtsL As Thoted above. the connected interests relating to that transaction w¢re fornllY declared and managed by the Boar
Caledonia Gladiators in the Community Report of the Trnst¢¢s (Continued) For the y¢aT ended 30 Novernber 2025 PlaDS for flltsre perfods The Tn¥8 future prioriti are to build sustainably on th¢ platforni established during 2024125. Priorities IlUde.. iiicreasingparticipation. including particip10 by gir]s, younger age groups alldwiderrepresented commuDities' attdiDg school ewg¢m¢nt alld strengthening routs$ from school aetivity into regular Community b&sk¢tball. strengthening proeSsion opportutl1ti from participation into club and competitive b&gketball. developitig coaches. officials. volunteers. student plaeem¢nts aad leadership opporiutiitis5' gtowing p8rthuships with s¢hools, sports bodies, universiti¢s. ChltieS alld con]murrity organisations. extendjng geographical reach where this w be de]iver¢d sustainably. improviti8 mA%urement of participatioll. progressiou. eDga8eJnent al social Vu¢. MlMi5]ng appropriate charitable and ¢ommwty vse of the AEena and FanzAm¢' and buildthg a sustaxnabl¢ flnancial model ill whi¢h recurritw i1)rne supports recwrin8 eharitable acttvity and operating TRUSTEE'S RESPONSIBILITIES The Trtee8 are resN)Dsible for preparing the TrStee$. Report and the Finallcial Statements ID accordance with applicable law and Utjited Ktngdom Accounting Standards (Utiited Kingdom Generally Accept¢d Accounting Practice). Th¢ law applicable to charities in S¢oiland requires the Trust to prepate financial statements for each financial y¢ar which show a and fair view of the state of affairs of th¢ Charity alld of the Incolg resourees and appjicatioll of resources of the C])arity forthat p10 Inpreparing these f]nancial Statents1 generally accepted a¢countingpwtice requitt$ that the Tn]st¢¢s: Select suitsble accounting policies alld then apply them consistently" Make jUdgeents and eStInt¢S that are T¢asonable al prudent. State whether the reconllnend8tions of the Statement of R01mended Practice hav¢ been followeiL subject to aDy nterIal departures disclosed and explailled 113 the finaTLciai statements.. State whether the finatt¢ial ststements comply with applicable accounting Stattdarth and the requirements of th¢ Charities aud Trustee tnvestrnent (Scotland) Act 2005. the Charity Accounts (Scotlattd} ReatiOnS 2006. subje¢t to any material departures disclosed and explained in the financial statements. and Prepare the financial stal¢ments on th¢ going concern basis unless it is inappropTiat¢ lo presuTn¢ that the CTr1ty will contitiue its activitie$. The Thjstees are required to act in aordanCe with the Charitics and TnJste¢ Inve5tJnent (Scotland} Aet 2005, withitt the frarnework of trust law. Th¢y are responsible for keeping adequate Ounting records. sufficient to disclose at time. with reasonable accuracy the financial position of the Charity at that time, alld to enable the Trustees to ensure thaL wbere any stst¢ments of ttc¢ounts are prepared by them under section 44 of the Charities and Tntee tnvesttnent (ScotIat} Act 2005 alld regulation 8 of the Clwities A¢counts (Seotland) Regulation8 2006 (&¥ amended). thos¢ statements of COUnts cOpIY with the requirements of Iegulations U[er that provision. They have g¢neTrl responsibility for taking such sleps &5 are reasollably open to thern to safeguard the assets of the Charity and to prevent amd detect fraud al other iTregulaTiti¢s. DISCLOSURE OF INFORMATION TO AUDITORS To the knowledge and belief of each of the persons wkn are Trustees atth¢ time the report is approved.. So far as the TTUStee is aware, there is llo relevant infornjation of wbich the Charity's auditor is uWare. and Helshelthey has taken all steps that h&15h<hey ought to have tak¢n as a TnL8tee to make himselflherself aware of atty relevajtt audit information and to establish that the auditor is aware of that infonllation.
Caledonia Gladiators in the Community Report of the TrSt (continued) For the year ¢nded 30 November 2025 REFERENCE AND ADMINISTRATIVE DETAILS Registsred Chgrlty number SC052143 Registered offi¢e PlaYS)rt Ceutre Stewartfield Way Fast Kilbride Glasgow G74 4GT Trustse4 Anthony McDaid (Interim chair) Lisa Palombo Alison R¢id-Timoney Brian Clancy {Appointed on 17 D¢ecember 2025) Peter RatDsay (Resigncd on 17 D¢cember 2025) St¢phen P&ul-fll]Loney Alldltors Arn)Strong Watson Audit Limited 89 Seaward Street Glasgow 041 IHJ Bgnkers Royal Bank of Swtland Approved by order of the Board of TnleeS on 31 August 2026 and signed on its b¢half by: Lisa P4lombo Tnt8tee
Caledonia Gladiators in the Cornmllnity Ittdependent Auditors, Report to the Trustees of Ca]edonia Gladitors in the CommllDIty For the yeAr ended 30 November 2025 Opinion We have audited the fu181 $tstements of Caledonia GIadiators in the CoD]nwwty (the clwity) for the period ended 30th November 2025 whi¢h comprise th¢ Statement of Financial A¢tivities, the Ba]aDce Sheet, the Cash Flow Ststement and notes to th¢ f]nancial stat¢ments, including a sunllnary of sigDific&llt accounting policies. The fiDancial reporting framework that has been applted in their preparation is applicable law and United King(bm Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in th¢ UK and R¢public of IrelaDd' (United Kingdom Generally Accepted Aoltn8 Practice). Irl our opinion the finallc1 statements: give a true and fair vi¢w of tbe state of the cl)aTitys affairs as at 30th November 2025 and of its incoming resout¢¢s aThd applteatlOD of resource4 for the p¢riod then end¢d. have been properly prepared ill accordance with United Kingdom Genernlly Accepted A¢¢ounting Prnctice" an have been preped in w¢ordance with the requirements of the Charities and Tnte¢ Inve8kn¢nt (Scotland) Act 2005 and regulation 8 of the CIwTities Accouuts (Scotland) Regulations 2006. B4sls for Opiffjioll We cottducted our alldit ia accoIdance with Inrnatiottal Standards OD Auditing IUK) OSAS (UK)) and applithle law. Our responsibilities under those stattdard5 are fjjrtber described in the Auditors, respollsIlilities for the alldit of tbe financial statements section of our report. We are independent of the charity in acrdance with the ethical requirements that relevant to our audit of the fu¢la1 ststemeTrts in the United Kingdo including the Finatieial Reporting Cow]cil's Etbical stalldar and we have fulfilled our other ethic21 responsibilities in accordance with these requir¢ments. We believe tbat the audit evidence we have obtsined is sufficient and appropriate to provide a basis for Ollr opinion. CoJJcluslon8 RelatiDg to Going Colleerrj In auditing the fillanciki ststemellts. we have ¢¢)ncluded that the thistees, use of th¢ going concern basis of a¢covnting in pr¢paration of the finallcial statements is appropriat¢. Based on the work we have perfOrnd, we have not identified any Rnat¢rial ullcertainties relating to events or conditions tha individually or collectively, may cast sign]fieant doubt on the clwity's ability to continue as a going ¢¢)ncertt for a period of at le> twelve months frorn when the financial statements ore authorised for issue. Our respoJL8ibilities and the responsibililies of the stees witb respect to going cotLcern are described in the rekvaDt sections of this reporL Other inform2tiDn The other iDf¢)rn)atiott c¢)rnptises th¢ inforjllation iocluded in the Anttual report other thaa the fjtwicial statements and our Auditots, report thereoll. The Tntstees are responsible for the other infornvation contained within the Annual Teport. Our opinion oll the finallC1 statements does not eov¢r the other iofon]Mtion an& except to th¢ extent oth¢rwise exp]ieitly stated in our r¢po¢ we do not express ally forni of assurance concl]0 thereon. Our responsibility is to read the other itth>rmation and. in doing so. onsider wb¢ther the oth¢r inforniation is materially inconsistent with the financial statern¢nts or our knowledge obtsin¢d in tbe Course of the audii or otherwise appears to be materially misstated. If we identify such rnaterial ittc0llsisteieS or apparent material misstatements, we aTe required to determine whetber this gives Tise to a material misstatement iti the financial staternents themselves. If. based on the work we have p¢rfonned. we conclude that there is a rnakrial misstatement of this other informatio w¢ are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by txception We baye nothing to report in respect of the following matters where the Charities Accounts (Scotland) Regulations 2006 (as mended) requires us to r¢port to you if. in our opinion." The infolloll given in the Thjstecs report is inctinsistellt in any material resped with the fman¢ial statements.. or Prop¢r accoullting rxords have not been kepL or The finaucial statements are not ill weement with the accouuting records and r¢tums' or We hve not received all the infom]ation and explallati¢)DS we r¢quir¢ for our audiL RespoDsibilltles of tru$tet5 AB explained mor¢ fully in the Tnte¢s, rwonsibilities statement, the Tre¢S are responsible for the preparation of the financial staternents which give a trne and fair view, and for such internal control the TllteeS detem)ine is necessary to enable the prepardtioTh of fillan¢ial statements that are free from misstatemenl wh¢th¢r due to fraud or error.
Caledonla Gladiators in the Community IDdependeDt Auditors. Report to the Trustees of Caledonia Gladiators Sn the Conllnunfity (¢ontiDued) For the year ended 30 Noyember 2025 In pr¢paring the fit)ancial statements, the TnL8t¢es are responsible for &5sessing the ¢IlS ability to eotttinue as a going conc¢ disclosin& as applicable, Dutters related to going ¢oncem al ussng the going concern basis of accouuling unless the Trustess either inlend to liquidate th¢ ¢haTity or to cease operations, or bav¢ no realistic alternative but to do so. Auditors, responsibilities for the tudit of the Alle11 $t#tsments We have b¢¢n appointed &4 auditor under section 44(1)(c) of the Charitie5 and Ttustee Investment (Scotland) Act 2005 and report in accordance with the Aet aBd relevant regulations made or bavsng effect thereunder. Our Objectiv are to obtain rwonable a&8tsfdn¢e about whetb¢T the fllwicial gtat¢ments as a whok are free from llJat¢rial misstaternent, whether due to fraud or error. and to issue att Auditors, report that includes our opinion. Reasonable assurdnce is a bigb lev¢1 of assurallce. but is not a guarantee that an audit eondu¢ted in accordallce with ISAS (UK) will always detect a material misstatement when It exists. Misstatements can arise from fraud or error and are Considered mat¢rial if, individually or ia tbe a8gate, they could i¢asonably be ¢xpethd to infiuen¢¢ th¢ economie decisions of Users taken on tbe b2si$ of these financial stat¢ments. Irregularities, including fraud, are itistances of non-colljpliance with laws alld regulation$. We design proc¢dure5 in line witb our ruponsibilities, outlined above, to detect material mi5slatements iti r¢spxt of irregularities. including frdU(L The extent to which our prwedures are ¢apable of detecting itregularities, including fraud is detsiled below.. We obtained an utsder5tanding of the l¢gal aJ)d regulat¢)ry frameworks that are applicable to tbe cljarity, focwing on provisions of thok laws and regulatio1 that had a dir¢¢t effect on the determittiOn of material amounts and discloseS in the financial ststements. The Jnost relevant frameworks we ideniified include FRS 102. the Charities SORP IFRS 102), the Charities and Tntee Investment (Scotland) Act 2(K15 and the Clwities AccouDts (Scotlalld) ReIonS 2006. We gained an urlderstanding (Trf how the chlty 15 complying with these laws and regulations by rnaking enquiries of management. We corrobornted these enquiri¢s througb our review of Submitt returns, relevant correspondellc¢ with regulatory b)dI and board meeting minutes. We assessed the susceptibility of the cbariws fillancial ststements 10 material misstaternenL including how fraud migbt oc¢ur, by ll¢ting with JnaBag¢rnent and thos¢ ¢harged with governance to undvstand whtte it w&5 considered ther¢ wa5 susceptibiIity ttTr fraud. This evaluation also consid¢r¢d how managerncnt and those ¢harged with gov¢rnance oversee tbe implementstion 2nd operntion of contro]s. In areas of the financial statements where tbe risks were considered to be higher. we perfornied procedu to address each identified risk The following procedure8 weTr performed to provide r¢asonable assurance that the finaTLcial statements were fr¢¢ of material ud and error. Reviewing minutes of meetings of those charged with gtsvernance, to ensure all key matters identified during the audit have been appropriately diwussed by Trste¢s. and that diwussions held at meetings demonslrdtes appropriate governallee by Tntees. Reviewing the level of reasotiillg behind the charity's procurenient of legal and professional s¢rvices' Perforyning audit work procedures over the risk of maTJag¢ment override of ¢oatrols, througb iesting of journal entries and oth¢r adjustments appropriateness, evaluating business rntionale of sigDifiwit trdnsactions outside the jlornl course of business and revi¢wing judgments rnade by manager(*nt in their calculation of accountillg ClMateS for potential allag¢rnent bias. Making enquiri¢s with those cbarged with govettwic¢ as lo where they considered there wds susceptibility to frau their knowledge of actual and suspected and alleged frau(L" Consideration of th¢ internal colltrols in place to lllltigat¢ risks of fraud and non4ompliallce with laws and regul&ions. Our audil Procedures w¢re designed to respond to the risk of material misstaternents in the finallcial statements, ree0)]$1g that the risk of not deteetillg a material Jnisstatem¢nt due io fraud is higher the iisk of not detecting one resulting from ror, as fraud involve intentiouai wncealJnertL forgery, collusioty orni55ion or misrepr¢sentation. There are inherent limitstions ill th¢ auditprocedures perfornled and the fiutherremov¢d nonwcoAnpliaD¢¢ w5th laws al r¢gulations is from th¢ w¢llts and transactions reflected in the financial ststeEnents, the less ]xkely we aTe to bectsll aware of it. A fjjrtber description of our responsibilities for the audit of the financial ststements is loeated on the Fil1¢181 R¢porting Councxl's webstte at.. www.frc.org.uklaudityrsrespoLsil)ilities. This description forn part of ourAudit¢)r5' report. Other Matters Th¢ financial statements for the year ended 30th Novemb¢r 2024 were not audited. Accordingly. we do not exprcss an OPiDion on the coThponding figure8.
Caledonia Gladiators in the Community Independent Auditors, Report to tbe Trustees of CatedoDia Gladiators In the Community (continued) For the year eDded 311 November 2025 Use of ollr report This rert is made sol¢ly to the charitys tW5tees, a body, irA accordance with regulation 10 of the Chariti¢s Accoullts (Scotlandl R¢gulatiODS 2006. Our audit work has been undertaken so that w¢ might state to th¢ ¢harity's tWStees those mattets we are required to stste to them ill an Audits>rs' report alld for no other pury>05e. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other thau the charity and its trustees. as a body. for our audit worl for this reporL or for the opinioDS we have fornied. Martin Johnston (Senior Statlltory Audltor) For and on behalf of Armstrollg WAts&n Audlt Lijnited Charter¢d Accoulltants & Statutory Auditors Glasgow Date: 31 August 2026
Caledonia Gladiators in the Community Statement of FinaDcl21 Activities For the year ended 30 l¥ovember 2025 (Unaudited) 2024 Unrestricted 2025 Unrestrieted funds IYot¢ IDcom¢ 4nd endovments from: Donations and legacies Other charstable activities I135,524 23&5110 11,774,1124 Exptuditure on cbarltable actliltl¢$ Support costs Govem2nc¢ costs {598377) (19JOO) (617,577) Net income 11,1SW7 Reconcili4tSon of funds Total fuud5 brought fon¥ard Tothl fvnds carrRed forward li 11,15W7 The notes ollpagcs 12 to 17 forn an inte1 part of tbese flljancial statements.
Caledonia Gladiators in the Community Balance Sbeet A¥ at 30 NovetDber 2025 (Ut)audited) 2024 2025 Flxed ass¢ts Tangible fixed assets Al,132,797 Current *s¥ets Deb sh at baDk and in hand 238JOO 962 248,062 Li•bi]itles Creditors.. amounts falling due within one year io (224A12) Net eurrent gssets 23,650 TDtsI 4ssets less current ]i8biJities 11,156,447 Net assets 11.15&447 Reprewnted by: Unrestricted funds 11,15W7 Tot funds 11,156,447 The notes on pages 12 to 17 fonn an ititeI part of these financial statements. Th¢ financial statenLents w¢r¢ approved by the Board of Trths aDd authorised for issue on 31 August 2026 and signed on its bebaIf by.. Ll8a Palombo Trnstee Regtstered Chatity number.. SC052143 io-
Caledonia Gladiators in the Community Statsment of Cash Flows For the year ended 30 NovetDber 2025 Iunaudited) 2024 2025 Operating activiti Net ineome AdiwÉmentsfornon EtenLf.' Donation of fixed assets DeprecÈation on fixed wets 11,15W7 (11,449,641) 316 Operating cash flows before Tvorklng capEtal thanges Increase in debtors Increase in creditors 23,650 {238,500) 224,412 et cagh llerated from operating actlvities 9,562 Net incr¢ase in cash alld equivalents Cath alkd cash equivaiellts at l December 9¥2 Cash #lld cash equlvalents 4t 30 November 9J62 The notes on pages 12 to 17 form all integtat part of these fitwicial ststements. li
Caledonia Gladiators in the Community Notes to the FInall¢ Staternents For tbe year ended 30 November 2025 A¢countiDg polltfies Basis of prep4riDg the fillanci statemeDts These financial stat¢ments are presented in pounds 8ter]iThg {GBP) as that Is the currency in which the Charity's transactions are denominated. Th¢ financial statemenls have been prepared Ulkder the historical cost CODvention unless otherwise Specifi within these accounting polictes and in accordance with the United Kingdom Accounting StallddS, including Financial Reportillg Standard 102 'The Finall¢ial Reporting Standard applicable in tbe United Kiugdom and Repub]ie of treland. IFRS102), the Ststejnent of Recommended Practice (SORP) 'Accounting and Reporting by Charities, applieable to clwities preparing their accoullts iti accordance with the Financial Rortillg Standard applicable in the UK and Republic of Ireland (FRS 102).> published in O¢tobet 2019, the Charities and Tnjstee Investznent (Scotland) Act 2005. the Chazities Accounts {Scotland) Regulations 2006 (as ajnended) and the Charity's constitution. The Charity meets the definition of a public l)¢nefit entity uttder FRS 102. Assets and liabilities are initially recognised at bistorical cost uttlw otherwise stated in the relevant ac¢ountin8 policy. The preparation of financial statements Tequires the Lse of certain critical accoutttillg ¢stimates. It also requires Trustees to exercise their judgement in the process of applying the accounting policies. Use of availabl¢ infOrntiOn attd application of judgement are inherent in the fottnation of estimates. Actud out¢omes in the could differ from such estimatrs. The ateas itivolving a bigher degree of judgem¢nt or complexity. or ar¢as where &UmptiOnS and ¢stInteS are significant to th¢ financial statements are disclosed ill not¢ 2. Th¢ prillcipal aeeounting wlicies applied in th¢ prep8rntion of these fiDan¢ial ststements are not¢d below. These policies have been applied consistently to all the years presented in dea]xllg with items which are eonsid¢red material irl relation to the Chatity's fillalleial statements unless otherwise stste¢L Going coneern The Ttusttts bave a Teasonable expectation that the Charity h&5 adequate resources to contillue tn operational existence for the foreseeable ture. They continue to believe the going concern basis of attountillg appropriale in prepaxing the annual fllw]cial statellwits. There aTe no matetiai ullcertainties about tbe Cbaritys abijity to continue as 8 going concern. Income Income is recogDised in the Ststement of Finattciki Activities once tbe ChaTity has entitlement to the fi]Dds, it is probable that th¢ income will be reeeiv¢d and the amount can b¢ rneasured relKably. The Charity's main source of income 1$ fro donations. Valu¢ in kind The Charity Jnay receive goods, services, hcilities or other nott-eash b¢n¢fits in support of its cEHTitable activities. Such th)nations reeogllis¢d as income at fair value where this cam be measur¢d reliably. A cottesptsndillg exp¢ns¢ or asset 15 recognised accorditig to th¢ nahwe of the benefit r¢ceiv¢ Expendlthre Liabilities are recognised as expenditure as soon as there Is a legal or constrnctive obligttion comrnitting the Charity to that expellditure, it is probable that & transfer of economic benefits will be Th4uired in settl¢merAt aDd the atnount of the obligatioTh can be measured ieliably. Expenditure is accounted for on an acctuals b&sis and bas been classified under headillgs that aggregat¢ all cost related to the category. Where costs ¢annot be directly attributed to particular headings they have been allo¢at¢d to activities on a basis ¢onsistent with the use of r¢sourrxs. Charitsble activities cornprise of ¢08ts incurred by the ChaTity in the de]ivery of its day to day activities attd serviees. Allocatlon and #pportionmellt of eo8ts Support Costs are those fimctions that assist the work of the Charity but do not directly uttdertak¢ cbatitable activities. Support costs include back office costs, l¢gal and professional feu which support the Cl)aritys activities. These c4)sts have been allocat to ¢xpendittwe on ¢Iltab activities. Dott*ted awts Donated tangible fixed assets are recoglliscd at fail value at the date of doT]ation where that fatr value catt be measured reliably, with a Co¢Sponding amount retoguised as dollation income within DonatioDS arld Legacies. Fair Yalue is detern]ined using the most r¢liable valuation evidence available, including independent professional valuations. Jnarket data and other approptiate valuation techniques. Wbere a donated asset COJllprises separat¢ly identifiable components, each ¢omponent is recogDised alld measured separately. Following ifjitial recognition. donat¢d &ss¢ts are depreciated over thexr estirnated USeft economic lives. 12-
Caledonia Gladiators in the Community Note5 to the Fknncial Ststements (conthiued) For the ye4r eDded 30 November 2025 Accounthig pDJicles (tontinued) TEble fix¢d assets Tallgible fixed assets ate Measured initially on the balance slLeet at their historical cosL All costs incurred to bring a tattgible fixed asset into its intended working condition are included in the measuretnent of wst. A tangible fed a58¢t, less its Ksith]al Yalue (its scrdp or realisabl¢ value tt the end of its economi¢ lifr), is depreciated on a systetDalic basis ov¢r its economic life. The estimated us¢ful live$ aT¢ as follows.. Plant and equipment 15 yeaxs Fixtures and fittings 15 yea Long leosehold propKrty 60 years Improvement to propety 20 yeaTS The depreciation charged for the Teporting period is re¢ogDised as aa expense in the Statrment of Financial Activities. Laud is not depTeciated. Impairment of tgnglble fixed Assets At ¢ach repoiting date fixed auets are revi¢w¢d to det¢rniine wheth¢r there is any indication that tbos¢ assets hav¢ suffered att lmpairllllt loss. If tbere is all indication of possible impairrnenL the Te¢overablc amount of any affected asset Is estimated and c¢)mpared with its caErying amount. If th¢ ¢stillwted recoverable amoullt is lower. the ¢anyitig amount is reduwj to its estim re¢overable amounL and an itnpairment loss is rxogtiised immediately. If aa inwainuent loss subsequently reverses. tbe carrying amouThl of the asget is increas¢d to tbe revised estiuwte of its re¢overable amowi¢ but Dot in eXS of th¢ amount that would have been deterniiued had no impairment loss been reco]Sed for the asset in prior years. A teverMI of an impairnient loss is recognised immediately. Taxation The Charity has charitsble status and is exempt from income tsx under Stion 505 of the Income and Coryjoration Tax&5 Act 1988 and capital gains th under Section 256 of the Taxatiou of Chargeable Gains kn 1992 alld the Charity is entitled to describe itself as a Swttish cbarity. Fund¥ Unrestricted fimds comprise donations and other incoming resources received or generated for cI)aTitable purpos¢s. They are vailable for use at the discretion of the TnL5tees in fie[all¢¢ of the Charity's generdl objectives. All of the Charitys fiwds are ¢urrendy unrestricted and colllained in the accumulated general reserv¢s fjmd. Finallclal knstrumettts Financial instruments are recogni8¢d in the financial knents when the Charity be¢omes a paty to the contractual provisions of the itistrument. FiDancial instruments are initially measured at transaction price unless the arrallgernent c(stilUteS a financillg traDsaction which includes traJ]SaClion costs for fjnancial inslnunents not subsequeD¢ly measured at fair value. Subsequent to initial reCoAIti0 they are accounted for as set out below. A financing transaction is measured at the present value of tbe fvttwe payments discounted at the market rate of interest for similar debt instnunent. Fiaancial in8tnllnents are classifi¢d as eitlE 'basic' or'other. in aecordance with Chapter 11 of FRS 102. At the end of e2eh reporting period, basic financial inStnellts are me&sured at aJnorti8ed cost using the effectiv¢ interest rate rnethod. All financial itistn]ments not classified as basic are measured at fatr vaLue at the end of the reporting pertod with the resulting changes recognised xrt income or ¢xpenditure. Where the fair value eaDnot be reliably measure(L they are recogtiised at cost less impairrnent. Finalla1 aet$ are derecognised wben tbe contr#thl rights lo the ¢h flows from the asset expire, or when the Clwity transferred substantially all the risks and rewards of ovlllership. Financial liabititics are derecognised ODly once the liability has been ¢xtinguish¢d througb di5¢harge, cancellation or ¢xpiry. Cugrent assets and current liabilities are measured at th¢ Cash value expected to b¢ paid orrec¢iv¢41 Cajh at ballk and in band C&8h at batjk is held to meet sbort-tenll cash cojnmitrnellts es they fall thie rather tIMn for investtnent purposes and includes ash for th¢ day tr> day runtiing of the Charity. 13
Caledonia Gladiators in the Community Notss to the Flllan¢i¥l Statements (eonthiued) For the year ended 30 November 2025 Signifi¢ant e8thllatss *nd judgements EstInteS and judgem¢nts are continually ev8luat¢d and are b&sed on historical experiene¢ 2nd other factors, including expectaiions of future events that are b¢ly¢ved to be reasonable under the CircUttanCeS. The Charity makes estillt¢S arAd assumptions concerning the fijtttre. The T¢5ulting accounting estirnate5 will, by definition, seldom equal the related a¢ttl results. The Charity makes judgements ill applying accoullting policies. Yoluation ofdonatedassetr During the year, tbe Cljarity recognised a Dthtuial th)nated asset cotnprising a leasebold prop¢rty interest together with various items of sp¢ciaiised planl equipment and fitthouL The valuation of these assets r¢quittd the tsijstees to ¢x¢rcise judgement ill deterniiaing the most appropriate evidence of fair value at the date of donation. The leasehold iDt¢r¢st was valued using an independent professional valuation. For certain Spla]ISed fixed assets, observable market inforniation was not readily available due to the nature of the assets and the abs¢n¢e of all active wket. In these circulnstances, the tDJStees considered the Calg values of th¢ assets in the dollovs COUnting records, together witb supportlllg information regarding the assets, Conditio age and ren1n1 useful ¢con¢)mic lives. and c¢)n¢luded that these valu¢s repiesented an appropriate estimate of fair value at th¢ date of transfer. Th¢ tNstees are satisfied that the valuatiott methodologies adopted provide a re&40nable basis for reco8Dising the donated assets in the fllmncial statements. DowitioDs and lega¢ies (Ullaudited) 2024 2025 Donations Donation in kind- services al facilities Dollation in kind- fixed ets 2A362 59,521 11,449,641 Jl,535524 ltttome frojn other charitsble (Unaudited) 2024 2025 Sporting fa¢iIity hire income 23&500 Expendltllre on charltable a¢ttvities (Unaudited) 2024 2025 Support costs (sce note 6) Governance (see note 6) 59&277 19JOO 61777 14-
Caledonia Gladiators in the Community Not£$ to the Fin&ncl#l Statements {eoDtinued) For the year ended 30 Nov¢mber 2025 Allalysis of Supptsrt & Governance Costs IUnaudit¢d) Swrt ¢ts costs 2025 2024 External audit L¢ga] and professional fees Service and llliltty charges Event costs Rellt premium Costs Depreoiation 10,000 9JOO 10,000 9allO 217,650 51,783 12,000 3l6I44 217,650 51,783 12,000 316,844 598277 19,300 61777 Trustea, remulltratifjn and beDefits The TDJStees were not paid any remuneration or giv¢ll any other benefits for the year ended 30 Novejnber 2025 {2024: £Dil). Trustse$' expenses No exp¢nses were paid to TnL$te during tb¢ Current year (2024.. £nil). Tanglble ed Sets Long leasebold Impn>vemellts property to property Plant And Fixtures and equipment fitting8 Cost At l December 2024 (Un&udited) Additions 6,ILKI,IM)O 4,685,841 619,925 43,875 11.449,641 At 30 November 2025 6.100,0(K) 4,685,841 619,925 43,875 11,449,641 Depreciation At l December 2024 (Unaudited) Charge for the year 84.723 195,243 34.440 2,438 316.844 At 30 Nov¢mber 2025 84,723 195,243 2,438 316,844 Net book value At 30 November 2025 6,015277 4,4911J98 585,485 41,437 11,132,797 At 30 November 2024 Iujwudited) Debtors (Unaudited) 2024 2025 Acerned income 238JOO 15-
Caledonia Gladiators in the Conununity Note5 to the Finajjcial Ststements (conthiued) Fot the yr elld¢d 30 November 2025 lil. Creditors: fajlillg due witbln one year (Ullaudited) 2024 2025 A¢¢nTa]s 224,412 11. Movement of funds (Unaudlted) At l Deeember Net movement At 30 November 2024 In fund$ 2025 Unrestricted funds Genernl fiwd 11,156.447 11,156,447 TOTAL FifNDS 11,156,447 11,156,447 N¢t movement in fijnds. included in the abov¢ are as follows." IllcorniDg restsurces Resource4 expended Movement ID fun Unrestricted fllnds General fund 11.774,024 (617.577) 11,156,447 TOTAL FtJNDS 11,774,024 (617O7T) 11,156,447 Name fyf Fund DescrRptio4 Dalure and pllry0 of fund Unrestricted Fullds Generdl Funds All TesenTes held by the CbaTity. 12. Analysis of ehaD%es Ill net debt (UDalldited) At l Decelllber 2024 At 30 November 21125 flows Cath and cash equivalents 9.562 9,562 9,562 9,562 16-
Caledonia Gladiators in the Community Notes to the Financlal Ststsments (conthiue41) For the year ended 30 Novewber 2025 13. Relatsd party disclosu o of th¢ Chaxltys Tnte¢S are also dirtorS and shar¢holders of SART Investments Lio]ited and Cal¢doDia Basketball Limited. Accordingly, these entities are ¢ODsidered related parties of the Charity. During the year. SART Investtn¢nts Limited donatrd a long le&sehold inter¢$t in the Arena #Dd Fanzone at the Playsport f11]ty together with associated planL equtpmenl and specialised fitpout &ssets to the Charity. The donation w&5 recognised at a fair Yaiue of £l1.449.641 (2024: £nil) aDd ha5 been inClded witbin dotstions and le8aci&5 in the Staternent of Financial Adivities. During the year, the Clwity incurred utility and service charge costs of £209,912 (2024: £nil) and r¢lltal premium costs of £12.000 (2024.. £nil) payable to SART tnvestments Litjjited in respe¢t of the o¢cupatioD and use of the Arena and FaDzone at the Play8POrt facxlity. During the year. the Charity received £238,500 (2024: £nil) from Caledonka B&sketball Limitcd for the use of the Arena and Fanzone at the Playsport facility and associated sports facilities in the delivery of its basketball activities. Caledollia B&sk¢tball Limit¢d also donat¢d £26.362 (2024: £nil) to support the Clwitys ¢haritsb2e activiti. In additioll. Caledonia Basketball Limited provided staff and other resources in SllPPOrt of the Charitys activities during the year. The value of these donated service4 recognised within donations and legacies aod clwitsble expenditure, amounted to £59,520 (2024.. £nil). At th¢ year end. ar[ullts due to SART Mvestments Lijnited totled £209.912 (2024.. £nil). At the year en(L amounts due from Caledonia Basketball Limited totslled £238.500 {2024: £nil). l& Subsequent events The bave been events occulg after the ba]aDce sheet Ilat¢ that rwiT¢ adjusttnent to. or disclosure ify the fuwicial statements. 17-