Since you are limited on space, I'd get a dry bag and put in:
A bottle of water
first aid kit
pair of stainless steel pliers (case you had to pull a hook out of you)
PFD - Which you should ware if you are out by yourself.
a flash light - If you fish in the evenings.
flare gun - depending on boat traffic around the area.
You are in a boat that is paddle powered limiting the distance you will travel. I doubt that you would be paddling so far out that land isn't visable and you would need a GPS for navagation. A small compass might be good if you are in a area that you could possible be carried out to sea by the current. Just my 2 cents.