## **TRUSTEES ANNUAL REPORT** Including Financial Accounts and Examiners Report Portsmouth Pride Trust 1179715 ## **Trustees Annual Report** ## **- Portsmouth Pride Trust financial year ended 31st March 2026** **Period start date** : 1[st] April 2025 **Period end date** : 31[st] March 2026 **Charity name:** Portsmouth Pride Trust **Registered Charity No.:** 1179715 **HMRC Charity reference:** ZD66228 1 | Page ## **Objectives and Activities** ## _**Summary of the purposes of the charity as set out in its governing document**_ The purpose of Portsmouth Pride is to raise awareness of LGBTQI+ issues through entertainment and community engagement. ## _**Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts**_ The principal activity of Portsmouth Pride is to organise a free one day community event in the City of Portsmouth in order to raise awareness for and bring together members of the LGBTQI+ community and their allies. The charity also organises smaller ad hoc community events throughout the year in support of these goals. This is facilitated through fundraising events and corporate donations. ## _**Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit**_ The Trustees would like to note that they have had regard to the guidance from the Charity Commission on public benefit. In particular they would like to note that Portsmouth Pride does not employ any paid staff and the use of all acquired funds are utilised in an effective, efficient and economic manner. This follows a key principle of the Trust which is to ensure Portsmouth Pride continues to be a free event available to all so as to engage as many people as possible. ## _**Overview of the Portsmouth Pride safeguarding policy**_ It is the Policy of Portsmouth Pride Trust to safeguard the welfare of all children, young people, and adults at risk by protecting them from neglect and from physical, sexual and emotional harm. Portsmouth Pride Trust understand that individuals thrive in safe surroundings, so we are committed to ensuring that all our events are safe and enjoyable for everyone involved and that safeguarding practice reflects statutory responsibilities, government guidance and complies with best practice and The Charity Commission requirements. It is the responsibility of all adults involved in Portsmouth Pride Trust to have read and understood the Safeguarding Policy & Procedures and this is overseen by the Trustees. ## **Achievements and Performance** ## _**Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole**_ Over the last year Portsmouth Pride Trust (PPT) continued its work connecting local businesses, organisations, people and community groups. This included a wide range of events and projects aimed at engaging multiple stakeholders. 2 | Page ## These included: -A panel evening discussing the relationship between the military and pride with guest speakers from the Royal Navy's LGBT Network and Veterans. -A candlelit vigil in our Cathedral to remember Briann Ghey and all those we've lost as a community. -A drag pageant hosted by an international drag artist as part of a cultural exchange with Malta. -Our first ever live auditions for our stages, hosted by our local theatre in front of a panel of entertainment industry experts. -A modern art exhibition, curated by Gemma Rolls-Bentley, featuring artists from across the UK which gained international media attention. -A community run art exhibition, featuring works from local LGBTQ+ artists, some exhibiting for the first time. -Our first ever Gala Dinner, bringing together people from across our community for a blacktie event with an incredible guest speaker; the first transgender person to become an ordained vicar. -A tour of our giant (community made) pride flag to 25 landmarks across the city. The PPT main day event 2025 remained free and unfenced to ensure good attendance and accessibility for all people within the city. This year was particularly special as it saw Portsmouth host UK Pride, making it the focal point of the UK Pride season. 2025s main day event saw an estimated 15,000 people attend throughout the day. This ranged from young people, families, adults, groups from local businesses and community organisations. This increased attendance was despite some very poor weather conditions that may have deterred some people from attending The event successfully provided a day which celebrated the diversity of the LGBTQ+ community of Portsmouth. Crowds of people marched along the seafront on Southsea Esplanade, with attendees enjoying good food, a wide range of community information stalls, a fairground and a variety of LGBTQ+ performers across two stages. Also throughout the year there were a handful of fundraising events in conjunction with PPTs main partners as well as general engagement by attending and creating a presence at other events in the city and at other local Pride events. ## _**Volunteer and Community Engagement**_ PPT is supported by a dedicated team of year-round volunteers, with 21 individuals contributing their time and skills to help run the general operations of the organisation. These volunteers play an essential role in administration, marketing, event planning, communications, and day-to-day logistics—ensuring the smooth and consistent delivery of our mission. In addition to our permanent team, we are grateful for the support of 36 ad hoc volunteers who assist with community outreach activities and play a vital part in delivering our main event day. Their enthusiasm and commitment significantly expand our capacity to engage with the wider community and bring our initiatives to life. 3 | Page PPT undertook a number of community engagement initiatives at the Portsmouth Pride Main Day, Love Southsea Markets, Portsmouth Comic Con, Victorious Festival and Let’s Get Talking events amongst others. PPT has also increased the number of “ad-hoc” volunteers who aid with engagement and main day. Due to this we have been working on training volunteers on the mission of PPT and where to signpost people to LGBTQ+ council services. Specifically PPT have been able to connect people in the community to the a number of community groups including the various Portsmouth City Council 4U programmes, Gendered Intelligence, Home Start and The Parenting Network. Also, in the build-up to Uk Pride, a number of PPT volunteers also attended a number of other prides in the UKPON group throughout the year. ## **Financial Review** ## _**Review of the charity’s financial position at the end of the period**_ Following the formal creation of Portsmouth Pride Trust as a registered charity in 2017 the event and its community engagement has shown consistent growth in the first three years of its existence. In these initial years a key strategy was to maintain the event with minimal financial risk. This constituted a strategy of only committing to spend when income could be guaranteed to cover it. This approach brought in a very modest surplus for the first three years; but more importantly built the reputation of the event and helped attract the attention of the wider community as well as financial support from a range of corporate partners. Following the success of the first three years the Trust had secured funding to bring the event back for the summer of 2020. A modest operating surplus from prior years gave the charity the security to grow the event and make various preparations to secure the infrastructure and entertainment. However, as with the majority of Prides and other outdoor events in the UK, it had to be cancelled due to the Covid-19 pandemic in 2020 and moved online in 2021. As a result all the income received from stallholders, corporate sponsorship and traders had to be returned or deferred. The Committee contacted many of the organisations that had paid for their involvement in 2020 and arranged for the majority of them to roll their commitment forward to the summer 2022 next event. This is why there was a very large increase in deferred income on the balance sheet at the end of 2020/21 financial year which has subsequently been rolled forward to 2021/22. In 2022 the full in person main day event was able to be held for the first time since the Covid lock down. This event saw a large increase in income compared to the prior two years because all the deferred income from 2020/21 was released. And in addition the event attracted new sponsors, was able to hold more fundraisers, generate more stallholder revenue, and was successful in applying for grant income from National Lottery Awards for All and Hampshire & IoW Community Foundation. The event then continued to grow in size for 2023. Attracting more people than ever and making an even bigger impact on the city. In particular the Queer.All.Year arm of PPT secured a number of grants for additional community engagement events and auxiliary projects 4 | Page relating to the LGBTQI+ community in Portsmouth. As a result PPT attracted the highest amount of corporate sponsorship and grants ever in 2023/24. And whilst the overall expenditure for 23/24 year has increased to facilitate the growth of the event, PPT has still posted its largest ever surplus. Regarding the 23/24 surplus, it is noted that a material amount is from project specific grants that are restricted, whereby the project spend is expected to be delivered over more than one financial year. The main day event in 2024 increased in scale again compared to previous years. And with this came increased income and expenditure. Total income in the year was £189.6k. The majority of which came from corporate partners and grants. The unspent grant income has been noted as a restricted reserve in the financial accounts. A key factor here is where PPT has been successful in its application to host UK Pride in 2025; and a material proportion of the grant income has been generated off the back of this in order to facilitate the increased scale of the 2025 event, as well as a number of fringe events in the build up to it (some of which took place in the 2024/25 financial year). The 2024 event was the biggest in Portsmouth Pride's history and as such the costs increased compared to the previous year. The 24/25 accounts also include additional costs relating to spending of the restricted grant income. Total expenditure was £113k; with £78.4k relating to the main day event, and £34.8 relating to projects and community support. The balance sheet includes an increase in prepaid expenses, relating to deposits for the summer 2025 UK Pride event which is expected to be even bigger than 2024. In line with this, deferred income is still a material element of the balance sheet, being mainly corporate sponsorship, grant income and trader fees specifically relating to the 2025 event. Overall the Trust made an accounting surplus of £76,405 in the financial year 2024/25. In 2025 Portsmouth Pride hosted UK Pride and as such saw an increase in activity and spend in the year. The increase was as expected and funded by the additional income generated in the 24/25 and 25/26 financial years. Income generated in 25/26 totalled £186k, with over half of this coming from grants and corporate sponsorship. Expenditure in the year totalled £197k, mainly due to the increased scale of the event and greater spend on some high profile acts. There was also £27.6k spend on specific grant funded projects as part of the UK pride events schedule delivered throughout 2025/26. Overall PPT made an accounting loss of £11.1k in the year. This was planned and funded by the addition reserves general in the previous year. PPT ends the 25/26 financial year with net assets of £170k, of which £140.9k is cash in the bank. ## _**Statement explaining the policy for holding reserves stating why they are held**_ Portsmouth Pride Trust started the year with retained reserves of £181,310. Following a successful, scaled up main day event in 2025 this decreased by £11k as planned. Bringing the retained reserves carried forward to £170,164k. Reserves are held in order that future events can be fully funded with minimal risk to the Trustees and the wider stakeholders of PPT. 5 | Page Of these reserves, £29,849 relate to restricted reserves. These funds are allocated to specific projects that run alongside the regular “main day” activities of Portsmouth Pride Trust. This figure has reduced materially from last year as a number of projects and activities for UK Pride where delivered for 2025. As the Trustees are unpaid volunteers and PPT serves a wide range of community stakeholders, these cash reserves are necessary to protect them and ensure the future viability of the main Pride event as it continues to grow. Specifically the reserves are necessary to cover any abortive costs should the event be cancelled at the last minute for reasons outside of human control. As the events and activities of Portsmouth Pride expand so do these potential costs and our need to maintain reasonable reserves. Note that PPT does not have any reason to hold zero reserves. The current strategy is such that the reserves will continue to grow in line with the size of the event and the current risk averse strategy. Reserves are held between a Lloyds Bank current “Trustees” account; and a Lloyds Bank Commercial Instant Access Savings Account. This is the second year that PPT has split its reserves between two accounts. The reason for this is because the large grant and corporate donation receipts in 24/25 made it worthwhile to have the cash in a basic (zero risk, instantly accessible) savings account to generate a modest amount of interest. ## _**Details of fund materially in deficit**_ Not applicable. ## _**Explanation of any uncertainties about the charity continuing as a going concern**_ From an accounting perspective there is no uncertainty regarding Portsmouth Pride Trust as a going concern. The required income for 2026 was secured and deposits paid for infrastructure and entertainment were on budget. A number of corporate sponsors and Portsmouth City Council have also confirmed their commitment to the future of the event. The reserves held are on target with regard to the funding the 2026 event. However due to very poor and potentially dangerous weather conditions on the day, the 2026 event had to be cancelled. This has resulted in some lost income due to lost ticket and stallholder refunds. The Trust is still in a financially good position and plans are being made for an alternative indoor event in the autumn as well as a scaled down main day for the summer of 2027. ## _**The charity’s principal sources of funds (including any fundraising)**_ The income recognised in the 2025/26 financial year came from a range of sources including ad hoc fundraising, grants, sponsorship, and trader/stallholder fees. In addition there was income from merchandise sales at events where PPT had a presence. 6 | Page ## _**Investment policy and objectives including any social investment policy adopted**_ Portsmouth Pride Trust does not make any investments and has no plans to do so for the foreseeable future. In line with its risk averse strategy PPT will hold cash reserves in a basic savings account that does not hold any risk that might be associated with an investment. ## _**A description of the principal risks facing the charity**_ It is the view of the Trustees that PPT does not face any immediate risks with regard to the financial position. The vast majority of the assets are liquid, reserves are adequate to cover any unexpected difficulties and the main corporate sponsors have expressed their interest in continuing to support Portsmouth Pride. There was some lost revenue for the 2026 due to the cancellation. However these have largely been offset by saving made from reduced expenditure on the main day that have been negotiated with some of the suppliers. The local council and sponsors have confirmed that they will continue to support Pride in Portsmouth for the foreseeable future. 7 | Page ## **Structure, Governance and Management** ## _**Type of governing document, constitution and Trustee appointment**_ The Trustees of Portsmouth Pride are governed by a Trust Deed in their administration of the Charity. The structure of Portsmouth Pride is that of a Charitable Trust. Trustee selection and appointment is undertaken by the currently appointed Trustees and decided by consensus vote. There are currently six Trustees. ## **Reference and Administrative details** Charity Name: Portsmouth Pride Trust Other name the charity uses: Portsmouth Pride Registered charity number: 1179715 HMRC Charity reference: ZD66228 Charity’s principal address: Create at Playland, 1-6 City Buildings, Commercial Road Portsmouth, PO1 4BD ## _**Names of the charity trustees who manage the charity**_ Christopher Pitts – Chair Natalia Aslam – Trustee Graham Pearson-Thomas – Trustee (appointed 18[th] February 2026) Joseph Taffurelli – Trustee (appointed 18[th] February 2026) Chris Parker – Trustee Daniel Robert Hickin – Trustee Ryan McCormick – Trustee Francesca Rosin White – Secretary & Trustee Portsmouth Pride Trust does not have any Corporate Trustees. No Trustees hold title to property belonging to the charity. None of the Trustees hold funds on behalf of others in the capacity of a custodian trustee. ## **Declaration** The trustees declare that they have approved the trustees’ report above and the year-end accounts. Signed on behalf of the charity’s trustees: Christopher Pitts ## _**Christopher Pitts**_ Portsmouth Pride Chair 14[th] June 2026 8 | Page POR-"SMOUTH Profltand lossforPort5mouth Prlde 1025126 lyearended 31MAR261 2017118 2.416 2018119 3.757 2019120 4,545 2020121 1.729 2021122 1.222 2022123 3.522 24.850 34.348 2,482 2,819 1,192 7,946 2.￿7 2023124 7,139 41,888 72,687 3,975 1,365 849 13,881 150 2024125 2025126 7.183 70.962 54,273 8,141 7,343 6,039 lo,￿7 8,690 Fundraising E¥•)rs Grants Corporate Donations & Sponsorship Paid Ticket Sa￿$ Merchandise sale5 Sundry DonatKins Trader fees Stallholder pitch fees PPT volunteer tsme recharge 8aDk income & Inierest Trade Union support 62.IC 95.158 11,322 3.169 1,052 14,479 2.555 2,050 270 14,868 805 1,353 545 1,994 1,490 875 290 277 520 278 396 365 543 275 71 2& 2,500 647 695 12.675 186,(M)8 250 4,207 250 9,553 2.0th) 27,6 750 80,818 Tot•1 rttelpts 2.078 3,507 144,434 189,536 Insuran 479 745 iio 1,030 2,567 5.(M)8 Abortive costs Merchandise Entertainmen¢ and Acts PA and Sound Equlpment Main day production costs Sundry expenses Advert15in8 and Promotion Web51te hostin4& ITcosts Community supwrt Equipment Hire Bad Debtwrite Off 3,510 541 422 1.086 3.366 2.160 728 560 2.745 9.255 220 2.377 6.258 5,312 47.882 loo 92,143 9,171 4,409 395 350 3,097 8,232 116 24,165 2,200 760 694 75 17.268 2,297 iio 75 23,654 2,043 1,276 201 500 55.681 2.865 516 240 199 1,072 524 20 75 70 500 65 387 3,856 18,260 7.114 150 3.108 15,434 33.865 27,643 2.100 3.385 197,154 Rent Fundraising Expenses 150 7.991 336 5.158 Tot*1 Èxpehses 2.041 16,487 4,743 40.744 90,128 113.131 Net profft 2.166 1.56Z 11.112 1,235 40.074 54,306 76.405 11.146 alanco sheetfor PDrt5rntsuth prldÉ at iiMAR26 Curre￿1 Assets & Uabllkles.. 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