COWBRIDGE MUSIC FESTIVAL Cowbridge Music Festival FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st December 2025 Charlty Number 1162524 CARSTON ETL Chanere¢J Aceouniants 1st Floor, Tudor House 16 Cathedral Road Carijiff CF119LJ Cowbridge Music Festival FINANCIAL STATEMENTS Year endgd 311t December 2025 CONTENTS PAGE Trustees, Annual Report Independent exambner's report to the trustees fteceipt5 aNd payment5 account) Statement of assets and liabilities Note5 to the financSal statements Cowbridge Music Festival TRUSTEES, ANNUAL REPORT Year ended 31Ut December 2025 The trustees present theiT report and the unaudited financial 5taiements of the charity for the year ended 31 De¢embeT 2025. REFERENCE AND ADMINISTRATIVE DETAILS Re8lslered charlty name Cowbrldge Music Festival Charity nurnber 1162524 Princlpal office Cowbridge Music Festival Brynawel Trerhyngyll Cowbridge Vale of GlamDrgan CF717TN Trustees Michael Trickey Ichairl Judy Leering (Treasurer) Mary Rose Tessa Shellens Eluned Pierce Lynne Plowman Juli? Charnpion Samantha Edwards Andrew Elliott (Appointed 24 Morch 2025) (Resigned 23 June 2025J IResigned Oi April 2025) Independent examlner Farzana Ahmed ACCA First Floor, Tudor House, 16. Cathedral Road, Cardiff CFII 9U Bankvrs The Co-operatlve Btink P.0. Box 250 Delf House Southway Skelmersdale WN8 GWT Cowbridge Muslc Festival TRUSTEES, ANNUAL REPORT (tontinued) Year ended 31st December 2025 Strutture, Purpw and Activltles Cowbridse Music Festival is Tègistered as a Charitable Incorporated Or8ani5ation ICIOI IReBlStered Charity NO. 11625241. The object% as stated in bts governin8 document, and fDf which th¢ chèrrty wis Èsiablished, 3Te'to educate the public in the approciation of music olld other arts, principalty by arranging an annual fe5tival'. Thè festival w35 held over 10 day5 in the autumll and con5i5t5 Qf main evening concerts, concerts foryoun8 rnUSIClaf5, 4 family concert and Jn outrèath progTamme for 8choo15 and Cdre home5 throu8hout the ValE of G12mor8an and Bridgend. Sn 2017 the Fe5tNal Frin6e was Started to take the festival out ol the main vÈnue5 and to invofve more local music groups. Ttte festival has as a priority the aim to remove barriers, perceNed and real. preventing the particlpètion In and the enjoyment of music. It aims to en8a6e the community as a whole. With public acce551bility to the concert5 greatly In mlnd. prov151on Is ttldde for the elderfy. the disabled and those DI Ilmited m@3n¢. PArtIEular importance Is attached to giving encouragement and opportunities to young rnusicians, from the very young to those at the beginning of their careers in muslt. While the overall mèna8ement of the festival remained the same a5 in 2024, with Joseph Fort and Rosalind Ventris zs Artlstic DSrectors, changes in the Board membership were made in April with the resi8nation of Mary Aose a5 Chair of the Board of Trustees and the appointment of Michael Tritkey as ihe new Chair of ihe Board of Trustees. Maiy Rose continued to remain as a Trustee. Andrew Elliott and Samantha EdwaTds resi8ned (4urin8 the year and judy LeErin8 was appointed Trustee and Treasurer in March. Richard Heason continued in hi5 role as the festival's Producer. The trustees a￿ aware of their responsibilities in ensuring that the festival delivers identifiable benefits to the public in accord with established objectives and permitted activities. The Trustees are informed of Public Benefit provision5 01 the Charities Att 2011 and of the guidance on them published by the Ch3ri cori11￿15s1O￿. They are 5at15fied that the objecls of the Charity tlie aclivities of (he Charity are within the definitions of Charitable PurposES a5 set duwn in the Att and general guidance on public benefit when reviewing their aims and objectives. 2025 AchSevement5 and Performance The 2025 Cowbridge Music Festival over 12, .21, September Saw a packèd programme of sixteen main contert5, the continuation of our Youn8 Art15t and schools education programmes, care home concerts. dance workshops, a Jau brunch. and a nurnber Df events across the community. The aEclairned Kaleidosco￿ Chamber Collective opened thè festival, with a grippin8 programme that included Mozart'5 Horn Quintet, and then returned for a late-nisht pro£ramme of music from the Great American Songbook. Not only did we have a full and appreciative audience for these concerts, but BBC Radio 3 a15Q recorded the first for subsequent broadcast in their Classrcal Live pro8rarnme, thi5 being the fourth consecutive yeai that they have broadcast from the festival. Thè following day began with our Family Concert. in which animateur Lenny Sayers introduced an extiting pro8ramme of family-friendly music perfomied by Tom Posier and Elena Urioste. In the afternoon we had a free dance workshop led by Objr Artistii Director joseph Fon, teaching participants the steps for the eighteenth-century rninuet. Minuets returned in our evening concert, in which the Carducci Quartet were joinpd by pianisl-composer Huw Watkins, including performances of Haydn'5 'Sunrise' Quartet and ShoJtakovich'J Piaiio Quintvt. Thls coiic¥i I WdS dlsu subsequeniiy Droadc3st on 8BC Hadio J. Cowbridge Music Festival TRUSTEES, ANNUAL REPORT (contlnu•d) Year ended 319t December 2025 Followin8 our e¥er-popular Jazz Brunch at The Bear in thè mornlngl Sunday aftèrnoon saw three soloists Finghin Collins, Robert Plane and our Artistic Director Rosalind Ventris unite for a wonderful programme of works for rlarinet. viola and piano. In the evenin8, the Sinfonia Cymru Septet gève a performance of 'Se3scapes', an immerswe programrne desi8nèd by one of thèir mustCj3ns, featurin8 Sally Beam15h's Sf ovaiger5, Monday brought a special concert in an area that thÈ festival has a developiTr8 reputation. Together with her band. the iernowned Afghan mu5ici8n Elaha Soroor performed a prograrnme of traditional Afghan music. We worked with local authorities to enable Afghan refugees in the area to attend the concert. On Tuesday morning blue skles heralded the p¥emiere o* a 51te-spet,"fit £omp051titsn for Cowbridge by local resident and high-piofile composer Lynne Plpwman. kler ptece, Beucon5, saw RWCMD 5tudent5 Stationed In various areas of the town, performinB different movements of the piece, before all coming together for it5 finalp in the centre of the Physlc Garden. Around IOO loeal primary sehool pupils made a mornlng of it, walking around the 'installation' In the afternoon horn vlrtuoso Ben Goldschelder gave a mastercla55 for our Young Artists. and in the evening our two Young EnsÈmbles. the 8ute W5nd Quintèt and the vr¢a String Quanet, perfurrned Sn our Young Ensembles, Gala Concert. On Wednesday evenin8 w& welcomed the ensemble VRT. who gave a powerful performance oftraditional Welsh folk music io a packed audience. Thursday then saw an extremely fine perforrrance from our 2025 Young Artist, the tenor Dafydd Jones. who was accompanied in a programme of Schubert, SchLJmann and Dilys £Wn-Edwards's music by pianist Francesca Lauri. On Friday Tango Calor 6ave an exuberant and uplifting performance of tango-inspired mu51c. They Stayed on to the followSng dayi when they gave a tall80 masterclass to enthusiastic dancers. Saturday mornin8 be6an with a Coffee Concert glven by the exceptional local cellist, Ben Tarlton. who hails from Llantwit Major. His programmÈ pairèd a much-loved suite by Bach with some lesser-known works the cello repertory. In the late aftèrnoon we then held our Festival Evenson8, with a packed church now an annual feature of the festlval a wonderful way tD thank the church for all they do to nake the festival possible. The eveninR then saw a choral collcert condurted by our Art15tic Dirertor. Joseph Fort. The pro8rammp featured the premlere of John MetcalY5 Mi Gerddaf Gyda Thl (this year's festival commi55hJnl. and Ihe 8r3hms Reouiem In tts 'London Version, wTrth plants dijo playin8 the orchestral part. The final day of the festival brDughi somethin8 new for us-a musical theatre concert. The fantastic performer5 of We15h of the West End brought a prDgrarnTne of rnusicèl theatre hits, sin8in6 in both Welsh and English. Thi5 programme proved particvlarly popular wrth local families, dr•win8 somethin8 of a new audience to the festival. We roundèd off the festival in the evening with a perform3nce byja2z singer Kat Rees and her bi8 band the Siglo Section. A8ain we had a number of We15h-lan8uage song5 here. too, brin8ln8 a distinttly Welsh flavour to thls celebratory fest(val finale, khoo15 Outreach and famlly concert Alon851de the concerts and fringe aciivitle5, the festival'5 ongoing outreach programme continued. wlth five full day5 of workshops at five local primary schools reaching almost I,ODO pupils. delivered by thÈ ever- energetii Children'5 Musical Adventuies. 51aff iold us-. Cowbrldge Music Festival TRUSTEES, ANNUAL REPORT {conllnu¢d) Year ended 31•t December 2023 Thank you so mLTrch to the Cowbridge festival for once a8ain comiDg to our school. Patrick was excellent and workecl with key stage 1&2 C￿ildren. It was brilliant, ès everl, 'P3trick's vlsSts to our school are a highlight of our musical yeaTI He's ènE•glng 3Trd the children absolute￿ love it., 'A fantastic day of music making, the staff and children had a wonderful time. Thank you to all involved. 'Patrick's visits never fail tn disappoint and we ale 10 Krateful to Cowbridge festival for another beautiful day. Patrick worked with dlfferent year groups this year which was a rtal tTeai for Qui vounger children. 'Wow what a brilliant day I It is a joy to see the smiles on OUT children'5 faces, makin8 music with Patrick. Thank you again.. MusSc in th¢ lotal area The annual JaLI Brunch proved more popular than ever this year. with over sixty attendees. Cardiff-based singer Sarah Meek joined fDrces with planisi Dave CottlE to deliver a lively prosr4mme of upbeat hits. entertaining diners at The Bear Hgtel. Festival musiclans vislted a nurnbeT of care homes in Cowbrid8e, Barry and Bridgend bringin8 live rnusic to members of ihe Ioc31 community whom it might not otherwise reach. Feedback from the home5 spoke ol the enjoyment thai these concerts brought. Acces5ibillty and ineluslvlty The festival continues to underline its commitment lo maklTrg music accessible to all. Ticket prSces for the main concerts ranged from £12 to É22-the least expensive of any comparable festNal in the reglon, and it was good to See a number of young people and attendee5 from minorrtv groups at the performantes. The community is keenly aware that the festival provides an annual opportunity to experience high quality mu51C thal 15 exciting, inspiring and uplifting. The wide range of mu5io as well as the intimate and informal setting% of the venues, are seen as important in breakin8 down the barriers, perceived and rèal, to en8a8emEnt with ehe festival. The future Onc• a8>in. in 2025, wf(h geNertsUS SupFort from ¢harttèble trusts. Dur sponsors, Ans and Business cymr14 an¢Y the Arts Council of Wales, we weTe able to put on another festival that wa5 of great benefrt io the community, serving people of all a4e5, from thè very youne to the eldèrly and disablèd. Our fundamental task next year is to continue to maintaTn the sure footln8 of the festival and all our core activtties lincludlng our education workl amid ever more challenging times lor the arts. If we are able to secure the necessary financial support. we are cOnfide￿t that with our careful mana8ement we will be able to ensure the Dngoing future success of the festival over the years to come. For the 2026 festival, we already have an impre$5i¥e line-up of hi6h.profile 3rt15t5 from across an array of genreg, showcasin8 Some of the strongest Welsh talent while also brin8ing international artist5 to Cowbrid8e. Financial Rewew The success of the funding enabled the festival to finance a fijll 10 dèy programme of concerts alongslde the Festival Fringe and a hi8hly successful 5Ghools DUtreaEh and care home programme of acEivities. Cowbridge Music Festival TRtsSTEES' ANNUAL REPORT (contlnued) Year ended 318t December 2025 The festival continued to receive stmnB SUPP¢rt ffom the Arts Council of Wale5, a grant of £35,OC¢J belng made (received E31,500 and £3,500 received next yearl. Sponsorship by local bu5ine55es was lower than the 2024 figure, while giants fiom trusts and foundations increased by £17.375 compared With the 2024 level. Ont@ a8ain. the l*¢tlV21'% fln3ntg£ greatly 5tron8thened by the Fri•Nds' Assgciation subscriptions. Ticket and other 541e5 rernained at the 2024 level.- ahhough we had raised our ticket price5 in 2024, our audience survey strongly confirmed that the prices continued to represent 6ood value. Tolal expenditure wa5 £4,700 hi8her than budget due to sorne minor overspends on PR, venue hire and program costs. Qther costs. including artists, fees and expen5e5 were within budget. ReseThes The intr￿aSe in income frorn trust4 and foundations enabled us to cover our costs with a small deficit. Wlth income from all source5 amountin8 to £106,432 and expendi(uYe to £113,997. ta5h reserves were E7.565 below the 2024 level at £16,062. Volunteers The Trustees are heavify indebted to our many volunteers who distribute publicily material, provide a£commodalion and mea15 for musician5, organSse and sell rÈfreshments and assist with Front of House management and the Frlends, Associatlon. Dlsclosure and BarrfTr8 5ervi¢• All Trustees, volunteers and members of partner gr8anisations involved with the schools outreach, care homes and concerts involving young musicians have 085 certificates. Rlsk mana8ement The major risks to which the charity 15 exposed, as identified by the Trustees, have been rev￿Wed and systems have been estèblished to mici84ie ihDse rlsks. The Tru5tee5 are kept well informed of all workings of the Fpstival. Financial risk management and risk Itleation are addressed on a continual basis and festivals are pl•nned with careful re6ard to income èxpertations. Contingenry plans and flnancial 5afe8uards are under constant review. A Public Liability Insurance policy is provided annually by Graham Sykes Insurance Ltd. 5i8nÈd on behalf of the trustees of Cowbrid6e Music Festival Tru . Signed Td.D.Y.....,..Lb..4.R.l Print Nume Dot*...2¥ zc)I6 Cowbridge Music Festival INDEPENDENT EXAMINERS REPORT Year ended 31*t December 2025 I repDrt to the trustee5 on my examinarion of the financial statements of Cowbridge Mv5ic Festival Ithe charitvl for the year ended 31 December 2025. Responslbllltles and basis of report As the charity'5 trustees you arè responsiblp for thè pfeparation of the accounts in actordance with the requirements of the Chaiities Act 20111'thÈ Act'l. I report In respect of my examinatlon of the charity's accounts carried Dut under 5ectic*n 145 of the Act and in carrying out my Èxamination I have followed all the applicable Directions given bythe Charity Commi55ion under settion 14515llbl of the Act. Independert examSner'5 slatement I have completed my Èxamination. I confirrn that no material matter5 have come to my attention ift connertion wlth the examination 8iving ME ¢ause to believe that in any material respect.. (counting record5 were not kept in ￿$pert of the charrty a5 requlred by section 130 of the Act,. or 2. the accounts do not accord with those records I have no coniern5 arld have come across no other Jnalters in connertion with the examination to which attention shoLJld be drawn in this report ITh order to enable a proper understandin8 of the accounts to be reached. Faizana Ahmed FCCA Independent Examiner 1st Floor, Tudor Hous• 16 Cathedral Road Cardiff CFII gu Date.l.p.Ib}- ( K>0 3£ Cowbridge Music Festival RECEIPTS AND PAYMENTS ACCOUNT Year ended 315t Decembèr 2025 UnTe5Mrted Funds Ilestrlrted Fund5 2025 2024 Recelpts: Arts Council of Wales Trusts & Foundations Sponsorship Bar sales & Programmes Friènds, Association Mernbership & Gift Ticket and refreshment Sales Palron5' and Supporters. Circles Miscellaneous 31,5 14,375 3£5LYI 38.183 23.250 26.250 4,5 2.877 3,411 22,(D7 1,250 261 3,516 3,411 18, 543 L350 261 133 Totsl Re¢elpts .557 45.875 I1￿,432 95,440 Payment5'. Artists. Fees and Èxpenses ArtlStic Artivity Costs Publicity Admlni5tration Other Costs 24,9 14,172 17,444 11.512 26.066 17,C62 si,( 31234 17,444 14,259 35,592 31,187 14,578 20,205 2,747 Total Payments iU,997 101.943 N•t Recelpt5 1 (Payrnentsl 17,$651 17.5651 16,5031 Transfer5 Between Funds Cash Fur7ds Last Year 23,627 23,627 30,131 C￿h Funds This Year 16.062 23,627 Cowbridge Music Festival STATEMENT OF ASSETS AND LIABILITIES Year ended 31*t December 2025 Unrestri¢ted Funds Restricted Fund5 2024 Assets: 8Jnk Jnd othor c3sh b31anc@s' The cooperat￿Ve bank 16,&52 16,C62 23,627 I6,￿2 I6,￿2 23.627 rhese flnanclal statements were approved by the mernber5 of the committee and authorised for issue on the 2g .z¢.aand are signed on their bEhalf by.. . signed tee . Print Name Cowbridge Music Festival NOTES TO THE FINANCIAL STATEMENTS Year ended 31•t Oecemb•r 2025 1. TRUSTEE REMUNERATION AND EXPENSES No tru5tees' received reimbursement for charity expend￿Ure paid privately on behalf of the charity.12024 £2281. 2. GOING CONCERN There are no materièl uncertainties about the charity's abilr(v to continue a5 a 80ing concern IsÈe trustees report under plans for future periods). 3. RELATED PARTY TIIANSAcrioNs There are no related party transartions during the year12024- £nill. 4. FUND BALANCES Balance lJan25 Balance at 31 Dec25 Income Expendlture Tran51ers Unrnstrfrted funds General fund 23,627 60,557 168,1221 23,627 60,557 168,1221 Restrfrted funds Arti Countsl of Wales Mary Homfray Charitable Trust Ty Cerdd Waterloo Foundation Arts & Business Cyrnru Cowbrid8e￿th Uantyethi?n Tov4n Council The f￿rchU5 Trust Cltr Thistle Trust 31, 131,5Ql)I 12,(MXI 11,4751 115WI 11,4WI IL￿) 13.th)1 1,475 12,CO)I 45,87 TOTAL FUNDS 23,627 i￿432 1113,997 io