The trustees present their annual report and financial statements for the year ended 31 March 2026.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".
Principal activities
The principal activity of the Charity continued to ensure LGBTQIA+ voices are heard and represented in Liverpool and internationally, and to fight against LGBTQIA+ discrimination, through presenting a yearly LGBTQIA+ arts and culture festival and programme of year-round activities, with a high international, national and local profile.
(1) To advance the education of the public in the arts in particular but not exclusively by:
a) programming, commissioning and producing art by LGBTQIA+ people;
b) and providing support, advice and guidance to LGBTQIA+ individuals,
(2) To promote equality and diversity in particular but not exclusively by:
a) eliminating discrimination on the grounds of sexual orientation and LGBTQIA+ identity,
b) raising public awareness of discrimination in society and the issues affecting the lives of LGBTQIA+ people; and
c) promoting activities to foster understanding between people from diverse backgrounds in particular, but not exclusively LGBTQIA+ people.
The trustees review the aims, objectives and activities of the Charity each year. This report looks at what the Charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.
1. Homotopia Festival 2025: Uprising
As the UK’s longest-running LGBTQIA+ arts festival, Homotopia remains a cornerstone of the nation’s cultural calendar. In November 2025, the festival ran for four weeks under the theme ‘Uprising’, bringing together an eclectic, vibrant mix of theatre, visual arts, dance, film, family-friendly events, workshops, and panel discussions.
A major highlight was Residents, a socially engaged photography project by artist Ming de Nasty and Liverpool's LGBTQIA+ community, co-commissioned by the Open Eye Gallery and Homotopia. The project featured larger-than-life public portraits celebrating queer visibility and resilience across Merseyside. Large-scale installations were displayed across select Merseyrail Northern and Wirral line train stations to reclaim public space and champion queer visibility.
Open to the general public, the 2025 festival proudly championed local, national, and international queer and trans creatives, providing a vital platform to elevate underrepresented voices and embed queer culture permanently within the region’s wider artistic landscape..
100,000 Audience members engaged across 4 weeks of programming.
50+ LGBTQIA+ and trans artists, makers, and performers featured.
2. Year-Round Youth & Community Engagement
Beyond the annual festival, the Charity provides continuous, year-round creative support to young LGBTQIA+ people aged 16–25 through artistic workshops, rehearsal space, and skill-building projects.
Through our Young Homotopia initiative, we supported young people to build creative confidence and amplify their voices on major platforms. Key achievements this year included:
Unity Theatre Showcase: Presenting a fabulous queer retelling of Alice in Wonderland.
Liverpool Pride: Showcasing youth-led live performances to thousands of attendees.
British Science Festival: Creating and presenting impactful original work focusing on queer mental health.
3. Artist Development: QueerCore
To nurture the next generation of creative talent, the Charity continued its QueerCore artist development programme. Through a dedicated application process, QueerCore provides early-career LGBTQIA+ artists with tailored guidance, mentorship, and practical advice to help them navigate the creative industries and realise their professional ambitions.
4 Early-career artists selected for targeted QueerCore mentoring this year.
Beneficiaries of our services
Statement of Public Benefit
The Trustees have complied with their duty in Section 17 of the Charities Act 2011 to have due regard to the guidance on public benefit published by the Charity Commission when planning our programme of activity and allocating resources.
Through the provision of accessible LGBTQIA+ arts, youth development programmes, and artist support, the Charity delivers clear public benefit by advancing education in the arts, promoting equality and diversity, and fostering community cohesion.
Who Benefits From Our Work?
Our services reach a broad spectrum of individuals and communities, spanning local, national, and international audiences:
General Public & Audiences: Members of the public who experience high-quality queer culture, art, and performance as festival attendees, exhibition visitors, and participants in talks and workshops.
Artists & Creatives: Local, national, and international LGBTQIA+ and trans artists, performers, makers, and early-career creatives receiving development support, platforming, and paid opportunities through programmes like QueerCore.
Young People (Aged 16–25): Young LGBTQIA+ individuals who gain confidence, creative skills, and platform access through our year-round Young Homotopia workshops and high-profile cultural partnerships.
Creative Sector Professionals: Producers, directors, choreographers, writers, technical crew, and photographers who gain employment, professional development, and collaborative opportunities.
Strategic Partners & Funders: Cultural institutions, civic partners, and funding bodies who benefit from a more diverse, vibrant, and inclusive regional cultural offer.
Equality, Diversity, and Inclusion
Diversity is central to the Charity's mission. We actively work to widen the diversity of our beneficiaries, staff, board members, collaborating practitioners, and audiences.
In line with our Diversity & Equality Policy, we ensure our programmes are accessible to individuals across all protected characteristics, with particular emphasis on supporting underrepresented LGBTQIA+ and trans voices, racially minoritised communities, disabled people, and young people.
Total income for the year was £155,882, as shown in the Statement of Financial Activities, and expenditure totalled £233,107, resulting in a deficit for the year of £77,225. Unrestricted funds carried forward at the year end amounted to £12,309.
During the year, the trustees released the brought forward designated fund balance of £35,000 to general funds. The trustees aim to rebuild reserves in future years so that the designated fund can be reinstated.
The trustees have determined that sufficient free reserves should be maintained to provide financial stability in the event of an unexpected or unanticipated loss of income and to ensure that the charity can continue to meet its ongoing commitments. The trustees' target is to hold reserves equivalent to approximately three months' operating expenditure, which has been calculated at around £35,000.
Of the total unrestricted funds held at the year end of £12,309, free reserves amounted to £9,920. Free reserves represent the funds that are freely available for the charity's general purposes and are calculated as unrestricted funds less amounts invested in fixed assets and amounts designated for specific purposes.
The trustees acknowledge that the current level of free reserves is below the target level. To address this, they plan to increase reserves through securing new funding opportunities and expanding fundraising activities.
Homotopia is managed by a board of trustees, Co-Chaired by Laura Hall and John Shortell.
Members of the board meet on a quarterly basis. Day-to-day management was delegated to the Interim Executive Director Adrian Friedli.
The organisation is a Charitable company, and registered as a charity on 21 August 2024 in England and Wales with Charity number: 1209684 and Company number: 07958842 .
The charity is constituted under a constitution on 21 August 2024. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.
All trustees give their time voluntarily and receive no benefits from the charity.
The trustees who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
The trustees keep the composition of the Board under regular review and seek to recruit individuals with the skills and experience needed to support the charity's objectives. New trustees receive an induction covering the charity's activities, governance arrangements, key policies and their legal responsibilities as trustees. Ongoing training and development opportunities are provided as appropriate to support effective governance.
Homotopia was registered as a charity by the Charity Commission on 21st August 2024, Charity no 1209684.
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' report was approved by the Board of Trustees.
The trustees, who are also the directors of Homotopia for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and 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 charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
I report to the trustees on my examination of the financial statements of Homotopia (the charity) for the year ended 31 March 2026.
This report is made solely to the charity's trustees, as a body, in accordance with Section 145 of the Charities Act 2011. My examination has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an Independent Examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my examination, for this report, or for the opinions I have formed.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Homotopia is a private company limited by guarantee incorporated in England and Wales. The registered office is Suites C,D,E & F 14th Floor, The Plaza, 100 Old Hall Street, Liverpool , L3 9QJ.
In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The nature of the charity’s operations and principal activities are described in the Trustees’ Report on pages 1 to 2.
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have have considered the charity's financial position, including the deficit reported for the year and the fact that unrestricted reserves have fallen below the target level set out in the charity's reserves policy. The trustees have approved a programme of measures aimed at rebuilding reserves over the medium term, including cost-saving initiatives, collaborative working arrangements and the pursuit of new income and funding opportunities.
Having considered the charity's current cash resources, budgeted results and cash flow forecasts, the trustees are satisfied that the charity has adequate resources to continue operating and to meet its obligations as they fall due. While rebuilding reserves remains a key strategic objective, the trustees have a reasonable expectation that the charity will continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on the going concern basis.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
The charity receives grants in respect to charitable activities. Income from government and other grants is recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If the charity does not have entitlement the amounts are deferred.
Income from trading activities includes fees for the hire of facilities by service users.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Direct charitable expenditure comprises services supplied and activities undertaken which are identifiable wholly or mainly in support of the charity’s activities. Support costs represent costs such as strategic management and development, finance, HR, training, IT support, estate and property management and general administration.
Cost of generating voluntary income is attributed to the salary cost of staff involved directly in fundraising activities.
Governance costs comprise the professional fees and accountancy fees expended
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.
If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in net income/(expenditure) for the year.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in net income/(expenditure) for the year.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
The charity is an exempt charity within the meaning of Schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore meets the definition of a charitable company for UK corporation tax purposes.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
No trustees were reimbursed for expenses incurred on and paid on behalf of the charity in the current or preceding year.
The average monthly number of employees during the year was:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
The 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.
The brought forward designated funds figure of £35,000 was based on an estimate of 3 months running costs, and was to provide for risks such as unforeseen expenditure or unanticipated loss of income, and to ensure that the company is able to meet its commitments. This amount has been released to general funds in the year.
There were no disclosable related party transactions during the year (2025 - none).