( (J 0,11, i)Tf j;. MUSIC FESTIVAL Cowbridge Music Festival FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st December 2024 Gharity Numbar 1162524 CAR NET Chart8red Accounlants 1st Flaor, Tudor House 16 Catljedral Road Lardiir CF11 gLJ Cowbridge Music Fastival FINANCIAL STATEMENTS Year ended 315t December 2024 CQNTENTS PAfjE TrLl¥teeg' Ahnijal Rppnrt Iiidv.yviidÈi)t examlner'5 rcport to the tr[&ilvvs RccLip15 and payn)ents ?ccounts Statemcnt ol <$5.Tr.O.t.s .Ind Iiabilitle: Notes to the firi¢ifiLial siaiements Cowbridge MUSIC Festival TRUSTEES, ANNUAL REPORT Yèar 8ndgd 31fjr Decarnbor 2024 l-h• triistpAs prÉsAnt thèir r•port ind Lhtt uii¥udiLgd liiidiiLidl sraEeiAoi)rs of Ilie cl)ariry for the yéar ended S T Docembcr 1024. REFERENCE AND ADMINisfRATIVE DETAILS Reolsteyed chavlty n?m¢ Charlty number iir)2524 Prlntipal Dffiie Cowbridge Music Fe5tlval Brynaw81 Trcrhyngyll Cowbrldaè Valo ol Gl£imurB4in CF717TN Trustee5 M3ry R05@ Ichairl Anilrew Elliott (Trcasurcrl 5amJniha Edward DJvld John ElunEd Pi¥rc sh￿Il￿nI lulu Wli*lail Julla Champion Lynne Plowman MiLhae1 Trickey Judy l egriny rupptsliitEd 14 Ueccmbcr20241 fo￿￿Ointed 14 Dfctmbrr ?0?4J foppoiiited 14 DeGEmber 2024J fllppnintÉ6 24 MurLlI 2Q25J Iiidependtrnt Pxlr mln2,r FcllLdlld Alli Iii,d ACCA Plrst Floor fydor I IDU3e, 16, Cathedrdl Road, Cardifl CF119U Bonkgrs Thp r.n-npprtitlvp. Trjiink P.0. Box 250 Delf11?vse Southway Skelinersd&il WN8 6WT cowbridge Muslc Festival TRIJSTEES. ANNUAL REPORT lcontlnvpd? Ye¥r endod 315t Deecmber 2D24 Struct41Te. PLbrpose and Actlvltles Quwbrlrlg￿ Miirlc Fc•tlval 15 rtXiSLer¥d Cli¥Jrittiblc Incorporated Orcani18tloh Ir,Ini IHo8l&tcrcd Lharity Nu. 11625241. Thc oblprt¥ Klxlyil 111 xuvei'nlnR document, lind llir wliii.li Iliv i.IIAt ily ¢dtabli:hed, are 'to pdiirrlTP The piibiic Iii Ilie ¥VVl¥Lidliuii ul I)11141r￿ iiiid other Jrt%, prinripylly b¥ &rrai)gln8 an Jnnual tC5tlv?I'. The festival is lield ov@r two wocks in tho Jutuinn rnnslqt.5 nf mii In Eveniiix curiiens, concert5 for yniin8 Iriu&iLldllS, a tailllly concprt Y1nd Rri i)IilfV.41Lli pi'o£ramnic for school: urid L¥T¥ liui))ès throv8hout tho Vale ol. GldlIJlJibdll aiid Brid6cDd. In 2017 the 1è5tNal Frin8C Wils started totake the festiv?1 0111 the nialn vènues and to Involve morp IuLal Iiiuslc groups. The fe5tlv31 hiT prii?rily LIT¥ dSrii tu feiiiove barriers, pèrtèlved Bnd reol, prcvtr.ntin8 tlio p3rt1clpation in and the 20joyment of mijqir.. It to CllEa8e the conimiinity •1 wIIL>le, Wlth publlc acrpsqihility tn I i.i)ii('.p.rts Bre3tly In mind, prvvl.%lr)n Is MAdÈforthe elderly, Ilie diid tIIoJt of limited mtans. Pirtltu18r importoncc l& dL14Lli¥J iu &ivi1i8 eiicovrasement and opportunitirhJ tu yuuhg murlcians. from lh8 VAry yt)ung to those at the beginnin8 of thpir riijrtors In niusic. Whlle thp nvprrill tfldlldb¥iiieiit of tlie fc5rivJl remalned the same lif in 2023, with Mary Rose as ch?Ir of th8 003rd of TrLJStte" 1nd JorÈph Fort and Rosalind Ventris as Artistic L)jredO¢I, rhxngps In thp Board memkJer511iy Inade In DecembcT willi Ilitr rp418llHtlnn of David Juhii yiid |rJlp WhÈlan and thc opptsimtment of Michael Trlckcyi Lynne Pl()wrTl3n and Julia Chompion. Richard Heason CDntiniied in liis iole as the fe5tivèl'5 Prndiir,er. Tlip tru.%toos Jre awar¥ vl ilielr rèsiinnFihilltlp.5 in ¥libUT iiik Ilidl tlit festlval dcliver£ id2ntiliyble beneflts to thp ybli¥ L11 ¥iCQI'd w￿h •.4t%hli%hed E>bj¥LL¢vLS and pcrmittcd 3rtivilies. Tlie Trugr&aÈ aro Inform￿￿ ol Public Aei)gtit rc*vislons of the ChoritfC5 ALI 2011 ai)d of the guiddnL¥ tsll theM published by thr th#rily r.(JiiiiiiIsslts￿. Thev are 5at15fietl tli8t t,he oblects of thE Chyrily and thg. activitie5 uf the Ch8rSty are within thtt deflniilon5 of CharitablL Puiyo>es as set down in the Act and refer to the 8uldib nr.p. contain&d in Ilie cliarlty Cnrnmi55ion's gp.ne.ral BuitJiriLe OD pub11c bgnwfit whEii ievi*wlny rlielr iilmq ii nd ntjjV.Lliv￿S. lQl4 AchiHv•rnErtrs and Performanctr Tli¥ 2024 CowbridRe Muile l estivii I, he.ld frDm 13th to 22nd SAptPFnbgr, was a succe55 In H nismhrr nf kvy wity.s. Several WelshPNalw%-bA&èd Iiiu5iclan5 PErformrd I ri 412eable audlcn(es, iDcludiri¥ Llyi Wllllams, EdRpr Franris, l.qrTi% Culeiridll, Daiiicl FÉobeits and Jteftan Morrls. Wc cxpinded the Young knxpmhleE proxrdiY]iii&, wlth Qiiartpt Drai13 returninr. and thF Rijtp Wind Uuirilvl ITiaklnu thplr tp..stlval debui- bL>LlI eiiJ¥iiiL)Ip% vJp.re. formed at the KwLr%ryU and 1¥gtiirpfl In Thplr p¥ngratnrries wuik> by w￿1)14 ¢oin￿O￿tr$. Jimrny .irsih g(trV& li *olo rocital thot 1vdLui￿d d I Ivw work, 'Whlsperi thr. Wind,, LuiiifiiiJoloi)gd wlth suppprt fruiTI lil fèrAd,, PrAilr prp.svntp.(I thelr beauiiful 5ellings ot work5 In thp W¢lsh folk tr4dltinn, AFid C8ikl¥iliu￿ Lhaimbcr Chvir Irom C8rdiff FJP.rforMed Ho15t's Twvlvv. wv.lsli Folk50nÈ5 in their orlglnèl We15h.lan811.'Ig('. settlng, thanks to our prujecl to festore this vprsion énd creatE li phuriElic edltlon. Wel.Eh jaz£ p5aiilsi Gwllym Slmcor.k FJV.rluiiTi¥J willi Iiis trio Acou5tii Tri¢irigle. Wè also brought several hiph prt)filp. UK and SnterngtlonAI artists lu Cvwbridgp i hp I'.astallHN Qui¥rLeL performcd wlth the fc5liviil'% Ai'tlstlc Director Rt7.%AIiTiII Vei)trls, thoir r(Irir'.vrl 6fid Ll¥r Williaii15'5 recital wère recorded fnr bruadc8sr Iii Nnvpmber on OBC Rddiv J. Aiclainied sJpr8no-plarr> rlijo HJrriuL 8uiliS and ¢hri%tapher tilynTI Kave d frrri¢l).tl)èiiied proRramrTie In which thoy were algo lolnerl hy HFJCNDW prlnclpa15 Alir.p Np.ary dIid Mdttliew Feathpr5lDn¥ lor sDme worki. Tl)e dy11amic yovii¥ brass ensenib1e QrJnnau8ht Bra53 IIJVV l 8rlppinE pp.rfEirmancc, aiid olaiilst Libby BurRess Rave an atm05pIIL'I 1¢ recital of 3 5electlGN yf Inovenlents from BJr.Ii'.s 'Well.TeiKp@red f.IRvier'. Cowbridge Music Festival TRUSTEEB, ANNUAL REPORT (conlinuodj Year èndod 31AI December 2024 We wprp r.hAllpiigpd this ycar by unlcireseeri, l&st-ii)IniJtVi 21 rti%t withdrawuls. I lairieL Durns replaceA Miiry Hpvan t two dby3' IivIiGL,' Iddylli Crawloid hadto withdrDW nri Ili* mni'nln8 ol h•r concqrt bocaL15Q of a bcrptyvempnl.. wp wpry IriTliinArk thiT Tunil Wllllam: at Cardill-IIM¥vil AlIu(.liJ%l￿tr ablo io diep In. A member rf P?d¥ir lihA covid, YIILI su Ili¥ LJirJiiii I'￿-￿rr￿lI}Y.Qd niiich ol their mu¥iL Iv ljv Ii) i)t'.vlt)tr'iii It wltl) lurt thret performers, Alyrigsldé tlie conccrts Ic nd frinKL dLtivltles, the fe5tiv?1'5 nng£Jiii8 scFiools programine Continued, with fivc. lull dHy.5 of w(Jrksliups at Ilve Iocai prlrniry %r.hDnl.% rv.IlLliiiib7 9QD puplls, a5 WCII thv. nnnuttl f¥iriily CuriLel l. Iliis year Elvcn b¥ Tt>s¢dii4 SLI iri¥& wliu yerfo¥iiied Pp.te.r ynd the Wolf. Thc ènnuol liiRZ FsriiiiLlI Jli u rLAi*aliied a PDpulJr local event, Fr..stival rnu￿1￿lan. visilecE SEX rare hompE in C.nwbrld￿￿, GdEry alid Brldgend. brin£ine livr WIIUSIL Lu rTi¥rnbers of tlio Iocihi.'v.It5 IdiiMp¥d Iiuiii £17 10 £22 with £1 ticket5 tor chlldren gnd:.tiidpntJ,' It VIOJ goDd Iu UL'L. a number otyoiin8 pgtsplè and attcndccs from iiiiiioi'lly groups at the pprfnrmariLes. rhe comrniinify 1% kpprily awarpthBI the fEStival prgvid¥ty ai) Innual opportunity to cxperlence high quallty muslc that 15 excftinffil ingplrlng ortd Iipliftlng. rhe wide r3ny.v ul rllii%ir, As wfftll 3$ the tntimate and iTrfortrial sercir)g% of rhti vènuès, are Seen £5 ifiir)uii&iil iri lirvé)k¢iip. clThwii the. barrieri. perceived ¥iid i¥dl, lo oi)JJaAen)ont with tho Th8 futur¢ niir fiinrtaniental task ncxt yeJr i& Lu ¥yiilit)uÉ to i)iaintain the sure luotlns of the festiyJl èntj rl11 nijr r.orL' a¢tivitiC5, inr.ludiTig outreach. amid ever morL Lliallenging times for the irtfi. If wv aYÉ abl& to secure the nAr.fi.4.53ry tinaiiLidl suyPOIT, we are cfinfidpnt thilt witli uui Ldieful iiidiièEtll)Lnt wc will be able to enjure thè nKDill& SLIC¢¢4￿ ol th2 fertivJl over the ¥PAfA In t.nmc. Flt)anclal Revlew The 5UCL¥S5 Ot tlip lijnding onablcd the lewtival to tliianrp A fiill two) wpek vru¥rarniTI￿ of (Ollcerts ?lonBqifl? thp. Fv..slivxl fiirige diili 6 hi8h5y 5yCC¢54lul s£hoolg' outreach antl cJre huiyiL' pfusiyamiiie of activitie5. I he festival contlnued to rp.r.p.Ivv. slrDllg¥ supyuIL Iron) thp. Art£ Cour4EiI ot W81es, B rrqnt al £$5,000 boin8 rTiJdL'. Syuii>oYslilp by local bu5inev5es feFnAii)pd at th2 1023 fiKure, whlle crAnt4 frnm trust5 and fuuiidoliOnS were lower by 19,6RFI t.i¥imparÉd wtth tht 20?.'3 lev￿1, IHievly l)P<.rill%P sionerou5 suppori h￿d beén glvo.n thRt ycor bv trii4tg 1rting i)ll il bi- trleiinial b45is. Once aAÉln, the festivtil,. wer¥ gireatly strengthened by the Fri?.nd5' Assoclatlon 511b5cripriiJTis. Tiuk&t and otlier qilp.% r?rrixiiied èz rhe 2023 lèvel., .Ilthniigh we. Iiad raisEd tsur tlcket prirp.s In 20241117-£22. wlth f I rhildren ¥iid ¥ludei)t tiiket51, o¥*r audlence survey stronyly ciJnlirriitr.d that th￿ VllLvS ￿rprCscntp.tl goad valuè. Our veniie Iiirv r.nst% were si%nificintly h5glie.r In 2024 at £4,766, partly because of hp31in8 tOSL%, Total artists, fce. Hnd Experi>es, Iiiciiiding tho*e lor Qur ULiireèch hiirf Fringc. were &lixliilv Ivwef èt *a4,.442. Cowbrid9e Muslc Festival TRUSTEES, ANNUAL REPORT (¢pn¢intsed) YB8r 8ndod 31It Decernber 2024 RpsÈnJès OvLildll. we weaihprod thg Apnertrl rlse In c05t5 that WP Siiw ill 2023. Wlth Income from dll suufies ainountinR Yn fg.q,440 dri￿ exyeiidilui¥ to +'l111.443, cash re$eNes werp. È6,503 bL.luw Llie 2021 lev•1 Rt £iJ,Cl7. Voluntccr5 Tho Tru:teeS gre hpHvily tndebied to oiir vr)luiiLe¥(s who dlstrlbiite piJbliciLy ITldleiial, orovldo at(omDindation and rri¥dl& lor mi151r,lii n5, or%4riise diid yell rpfr2:hmcnts and 8S$15t with Front af HDUSe miinit¥eriieiil aiid th¢ Fripnrts. A55uLialiun. Dlst105ure and Barrlnu 5Ervir¥ All Trustees, volunteor5 111111 tnèmh?rs of partner urBoiiisdLiuiI￿ iiivolvod wrth the sc.hools, outreAch, carc l)omes and conGerl> involving younF musicils ns have D8S certilicalLIS, Alsk monABpmpnt I hè majDr ri5k&' Lo which ihp chir rity 15 pxiiii.%pII, Identlficd by the TrysteEs, Iiave beeii r¢vi#wed Jnd sysL¥ms hi& vr hrJJ[I v..'.Idblisli¥d iv Iiiiligate those rljkj. I he I ru51L'VS Al'fv kppt well Informed L>1 oll wvikiiigs of the Festival. fin8nclal risk mano8cmLinl and rigk mltlgation èddrcsscd on t continLial b<151S tind lo.rtlvalc are pl6nnwil wltl) careful reEaFd tfl 111rr?Nip v%i)ec.tations. Cuiitii)Gency plAn% ind liri4iiLial safeEiIArd% ii rv Iindp.r coiistant Tevicw, A Publit Liihility In￿￿ranc0 pvliLV is pr(>vlrt*d arTnuall¥ by fJral)am lykp% Iniiinnr.r I td. %IKned on beliall vl Ilit trii.stces tsf Cowbri¢lLJe Mii4lc, Postiv31 . &)-tliK< .. ,Eignpd TriiKT rLJ,k.:.i...... Lti.tr.A.i.rJ.r PTinl Nttme Cowbridge Music Festival INDEPENDENT EXAMINERS REPQRT Yèar 8ndad 31AI DÈeÈMbèr 2024 I riport to the truglèes on my examinJtioii ol the tlnanr.IAI slaL¥meiits of Cowbrldge Mii.5iL F&&livdl Iil)e cliarityl for thi.. year ended JI lJv,r.v.rriber 2024. Responsibilitiej gnd ba#ls lll report hs 111tr' 1.11ISrily'i Iru4tees ytsu •r• rospon" relliiir?.mttntw of IliLI Charltles Ar.t 211111.lli¢ ALL'I. I i-L'klL)It Iii respect of my exon11n.Ition pt tho LlTr3rlry'4 3r.r.oiintS Larried uui uiidèr sprtlftn 14PJ [?[ Ilie ALI drid iii r.orryiiig out my exbminHIiDI) I hav& followed fill ihp 8FlI)li¢.dknle Direction5 8iven by thè Lharity Commisbitsn under secrlon 14515llk)l L)f tl)e Act. Independent e.¥%Mlner'$ Statement I huv¥ Lvrnplet*d my *xAmin*TiOh i ennfirm thA* nii iTldL¥iidl iiidLLgi s l)4ve ion1e to rnv Ittcntlnn In c()nnc£LigFI willi Elle examlnitlnn 8ivinK Iri¥ idU)t to bclip.vè that IM Any mètDrial roJpecl'. JcruuntlnE recrjrds werLI Ilot kept In rospact ul Ihe charltv a5 reqiiireil hy s¥1'.liiiii 130 of thc Art-, or 2. tliE iiccoiint5 do not accoi. J wlth thos@ records I h3vv nn r.niii'.v,I IIJ arid Iidv¥ across no Othor miw ttQT: in tonnoction with •x?mination to whir.k tt&ntion should be diiiwn in thirJ fL4puFi In DrrSor to enabl¥ d yroper Illlflpratlr nrllng nf Ilie ¥LLuuiils Iv b¢ reaclied. Far7{1fbii Ahm¥d rcc4 Independent ExAmine.r l tt Floor. TudDI Housè 16 CdLSIL(Jf)l Road Carditt ¢F11911 I IA L20>5 Cowbrldge Music Festival RECEIPTS AND PAYMENTS ACCOUNT Year Bndèd 31", December 2024 Unrestrirted Funds R2str5ttèd RcGoipts: Arts CounLiI ot Wale5 Trur.t% & Found8tlons Spunrorslilp ,1¥3 35.C 23.250 6,906 38,183 34..4CIJ Jiyj 6,990 L237 4,OCil 3,Slb 3,909 1A,rAq 3,516 Frlcnd: *rociation Membeiéliip & Gi Ir Iuil 1ir.kot 11 nd refreshmeni sales l?Atrnn.S' rind SupporlLirs' CiiLles mlscellaneoi15 18,543 ts3 L33 t￿7 Ytstal RÈEeipb. 6S,156 95,440 P#ythents'. Art15ts' fe¥A 8nd èxpense5 Art15tic Acllvlty costs Pyhlicily Admini5lration otlier Cost5 1,092 34.5C S0,C 1.303 35,591 31,157 14,578 20,205 dl>.2 13.27S l?.lQ1 9.814 Total Payments 65.803 101,943 gB.342 Npt Rrr.p.Ipt¥l IPaymeiTtsI 16471 16,5031 I,S94 Tiansfei"s between Funds h Fun(Js Last Yèar 29,48 17 au,iai 28.43ti osh Fund5 Thi 23.627 24,6?7 Cowbridge MUSIC Festival STATEMENT OF ASSETS AND LIABILITIES Year ended 31ltt Deceinber 2024 Restrirted Fuw1415 Fund5 2024 20 A559ts'. aonk and other cesh tyiilir n('.eJ. rho cftnpEratiVL bJrik 2J,627 23,627 25,627 2J.G27 30,131 ThEse tln8nc15Jl stiltEmcnLpJ WLire apprtsvprf hythB merriber& uf rl)e ¢oiiimlttPP iinrl i1sthuris¥d Iui i5SULi uil 11 I 1.3 LJ..-..&. ai)d are 5igntrd Dn th@Ir bèhalf by.. . Signed Print Nome Cowbridge Music Fostival NOTES TO THE FINANCIAL STATEMENTS Year Èndèd 31AI December 2024 i. rRUSTEE REMUNFRATlnN AND EXPENSES une trii&tab r•celvod £228 05 i2lmbur5cmrni ftir I'litirily VMIJVllLJilui e VaiLi orivately on b¢hilf olthè tharlry. 12rJ2J - £3031. Z. fjQING EONtERN ThpTP iirp. nn materiJl UllLei Idiiii1&5 alirillt thp r.h?rity'& dbiliLy Lu Lviiliiiii¥ as o Eoliig r.finr.p.rn IvJV,e trust2e3 repnrf i)Ihh.4 fDr future perlod51. 3, RELATED PARTY TRANSAcfioN5 Thvrv ￿re k)0 ielated party tfansllrtions tlijriii¥ Elle yEBr12023. Enill, 4. FUND BALANCE5 alanE¥ #l lJan34 Income Expenditurc Transfer¥ 31 24 UnrÈstileted lunds Genor¢i1 Iiihd 30,284 136.1401 23,627 29,484 30,284 19fi,1Ani 23,627 flestrlrted fiind.s Art£ fniinril nf Wlr l¥ Mory I I￿rr[Ir￿V Clidritable Irust Ty Cerdd WJterlts0 FoundJtir)n Arts & Busin¥s¥ Cyrnru Riilidid H Powell 11 PArtnvr5 rhwhrlclie. TrJvv.I 41.iJl)% AT Avlai? Club CowbridK Ann E1115 5ugarbu5h Trust .Slmon (iibson Lhdriiable TYIIST Lulwlnsion ChJrltli hlp Triii:t 135,C(K)I Ii,(xx)I 11.7501 12,5cfjI 12,ts61 12. 1,750 LSLXJ 7,15fi fi47 1617 12501 11,c(ol ls.ctoi iQ,CXK) IiU,LWI 647 IGS,IIDII TOTALFUNDS 30,ts1 Z3,627