Reglstw•d Chwlty no: 247947 CONTEMPORARY ART SOCIETY FOR WALES CYMDEITHAS CELFYDDYD GYFOES CYMRU Report of th• Trusteos and Recelpts and Payments Accounts Yoar End￿ 31 Decembor 2025 CONTEMPORARY ART SOCIEfY FOR WALES CYMDEITHAS GELFYDDYD GYFOES CYMRU Ind•x to th• accounts Ygar Endgd 31 D•C¢m￿r 2025 Pag• Chaimian'g Inlre4Juclion Report of tho Twste•B Ind•p¢ndent examinerfs rewxt Recelpls and payments a¢{￿nt Statement of ajsets arKI11obllits8 CONTEMPORARY ART SOCIEfY FOR WALES CYMDEITHAS GELFYDDYD GYFOES CYMRU Chalmian'• Introductlon Year End•d 31 DKofflb•r 2025 Tho Tru$t888' Rew the dthg ContemrAThy P4t SOc￿ty Walgs {CW fw the ygar ended 31 Dseembw 2025. It hos t￿n a vwy a￿¥0 aTrJ *r£<•sthil ytar the 08 th• Rgwt Act￿118$ and Achwsmerrt¥ TPYB shows th8 sb3nific8rt rc4e of Ihe St¢W in ￿￿¥not￿9 the vw818rts in Wal&s. l t int8nd to r6p8at the c(Thm8rts h the R8P)rt wwte•J to fr￿8 M al lts)6e mwnbors whts ¢￿irt￿ne so gon¢Tousty to delfvw e¥h ￿. I place on r•cLYd th8 Sod8ty'8 Welul Ihanks to Ihe Offi(*rB And ExtrAtho Curvnltee fly V￿knnQ tlrgle88ty the SOW. l e4jecl￿ty Ik• to lh￿1 I￿thg ExKulfve Ccffjmltt•8 mwnbw8 siwa B(rA(8tt ond DOV￿ 8rwk tr tholr contr*Artkm8 overthe yws. Wo must 8180 r•cy¥Ths0 arKI th￿k al rMnbw4 ¥*Y)M￿a b8hknd the Bcew trArt thfiosè name¥ ¢k¥ nL* app•ar h) thlB Ra￿rt. Th• So¢14ty derthJ8 on 811 b meny Wt￿ do a fart89t*l¢* ¥1 rol•s. Whal of lh8 future? In 2025 a wp frryn ￿ Exerth￿ Crynmittee st￿•d to thfr rc40 cl Ihè ￿¥tY In th next t8n y•arn, rgrnemberkng that th8 Sod¢ty wll c418LYat8 ts ¢•rt•nwy kn 2037. and thalthe art wC￿d In Wabtrs k8 very dlllergnl frcrfTr what rt was vthan tho was f(xm•d. a 8t•rtry PC4"nL hehd dhcus8kM8 $hJfficant numbw cl Inst#utIo￿ Wdsh a1 *r¥*J to saw u the S¢xW8 rolg In th8 future. None of th¥ rewn8e8 wern k1enleal, bjt ¥￿e conJ&ont them•s cam IhrowJh. M05t sbnhlrAnty, ov8ryon• wth wh￿7 wtr 8pokn wonted to 8•• th• S)daty IrKroo•• ts In tho ¥Mual arts in WaS0J. lortrte*m rycws. the Sodty IJ to dgvdop, there af8 8m 01)th￿ c4Jnstraknty, b8lng 8888ntlJly m• and ¢ost. Th8 ￿ety r¢lkns on *8 wjfvjrtoorn. 11 ltr¢ Sc<4ety ￿ golng to dDveb)p rob In lh8 W•L8h *t wthj, IB fo8slbl8 to ask fty rrmye voluntwy ttr￿, ty dots th• Sod•ty ha￿ to look at empkJy*g ltyne p*d wofv88lonal assbstawA? If th? Soc*ty lo go that ￿ule, rt b• fwyled, t•than •oth yoar ft Is borthnq rn expeMlv• fty Ihg to ma*rt8kn tts fAmnt rnlThJ pay for naw In**llv•i? are lust S￿n8 01 th• Issu•s Ih•t the Execulfve c￿1￿1¢ <r•s$lng In 2026. Tho Socloty roll￿ on tho support of ts mernbern, and wThAd rg•ly vatyJ8 yw wwj idea•. Hthv Oo you th0￿ the s￿lety dgvew and what shwkl bg Its r¢48 In Iho lutur87 nd Davl88 ch 2026 CONTEMPORARY ART SOCIEfY FOR WALES CYMDEITHAS GELFYDDYD GYFOES CYMRU Report of the Trnst••8 Yaar Endod 31 Docemb•r 2025 The Irustge5 present their rewrt with the financial statements for Iha charity for th6 year endad 31 D8c8mb8r 2025. The tr￿Ste8& have fo1￿￿0d the requwements of the Chari¢M Act 2011 and related idance. REFERENCE AND ADMINISTRATIVE DETAILS Relwslered Charity number 247947 Prlnclpal addre 2 Harrlsmith Rowj, Pen￿an, Cardlll. CF23 5DG Tru•t••• in alphab•llc•l onl•r S E Bowkett Retired 26 July 2025 D C BrcM)k R88lgned 19 A￿￿8t 2025 E J Cabuts C G Chllds G R Davies l Y Davl89 JGDFOY P Gill R C Hannlon E Hicks N Hope Elgcted 26 Juty 2025 P Jenkins J F Poin18 A D Ronton D Rob￿n8 G S Roper A Salisbury J Sallst)ury C Thomas P Vlning Ind•pendont Examln•r Williams Ross Limited 4 Ynys Bridge C￿rt Gwaelod y Garth C8rdMI CF159SS CONTEMPORARY ART SOCIEfY FOR WALES CYMDEITHAS GELFYDDYD GYFOES CYMRU Report of th• Tw8te•• Ygar Endgd 31 D¢¢•mb•r 2025 STRUCTURE. GOVERNANCE AND MANAGEMENT Govornlng docum•nt Tha ch8rlty L% conlrc41ed by its c(Thtitulion rules, The reV￿ed objects- lo foster arKI w￿nOte ng8gement wlth, and appredalrc￿ of. ￿ visual arts Among the pooplg of Wales, _ wefe approved by tha Charity Commission Sn Juty 2022 and amendad con8tiluliw was adopted by memb8rs of Ihfr Sodety al an Extraordlnary G8n8ral m￿Ing In December 2022. R•erultm•nt of Nv4T M•mb•r• New trustees are invited tojoln Exècullve Committ* by r8comff*nd81*)n from e￿sting mwnbers and by nomlnations from the memb8rs ofth8 S¢xlgty In general. The Exo¢Utlve Cc4nmKtee t8ke8 the r88ponslble positlon of f(w8iTrJ on the skll set require(I to fvlfil th8 tasks of thè Sodèty and how th06e are matcaKd by pr06pecbve tru&ees offerfrKJ thelr garv*e8. Cod• of Conduct and prnctl Th• Executive Cornmltteo operates to a Cod• of Con(knct aThl Praclk• {Inctxpwtlng Confll¢t$ of IntergsL Inv8Stmgnl Policy and Financial CMtrol$. and R15k Managemontl; a Pfocedwg for Rep)rting Serfous Inc￿entS.. a Procedure CLvn ￿aInts.. 8 for Oealing 8ultylNJ 8rKI Harassmenl; P￿ICY on AcceptirvJ Prop(wsed Gifts of Al￿￿thS by Wll.. ￿¢j 8 papw on Pawng Trusloe5 for SorvlGe8. Tho Executive Cornn￿tte8 ha8 an indemnty In$ur8nce and general covw vknkh1oko$ Into ¢onslderalk the range of und6rtAken •rKI of the mthnber&. ex•cutlv• Commlttaa Groups The Executlve Commlttee operalss wlth a numbor of grrArA to ￿t￿M are allott6d 8p8dfic taBk8 and functk>ns. In 2025 ttw)$6 grDUPS ￿m￿￿ed.. A Management Group. CtyTPri51ng Ihe (fftar8 of tho Sod8ty and lh• Chalr of th8 Ccffimunlcallrm Gr(w. An Events Group. A CommunScation8 (>oup, nevly fLYmed kn 2025. A 901h Annlver8ary Group. A Ganeral Strategy Gr￿p ACTivmES AND ACHIEVEMENTS Support for th• vlsual ath. Indudlng •du¢•tlonal and soclal •ctlvltl•A Publlc Talk* In 2025 the Socnty ofTuesday evenltvJ taLks. fre8 and D￿n to the puNlc. vlth onllne events for Ihe first haff of tho year fdkh¥ed by In*ws¢)n events tr￿k1 at Cardrff Schod of Art and Design in the autumn. These talks focus on the work of conlamp(xary practisffKJ artists. The onling talks wero gN6n by wtksts Martin Flnnln, Manmd and Gary Barker. The In-perSC￿ tall(s were glven by scuvor MArk Ildwrds; ath( curat(¥ arKI kn8ty mombw Frances Wc4)dley" and artist arxj CONTEMPORARY ART SOCIEfY FOR WALES CYMDEITHAS GELFYDDYD GYFOES CYMRU R•port of th• trust Year End•d 31 D•c•mb•r 2025 illustrator Amelia Huw Morgan. An irbJ8asirMJ number of 61udents attorxled the n-por50n talks a5 the year progressed. M•mb•r¥' Talks SIX Saiurdty mming taks lor m•mbers wern held ai ￿Sya￿a Monw)rial Hal in 2025. Tha first speakor was artlst. historlan aThJ curator Petsr Lord vthose talk wa$ enlitloJ Great Exp8cl8tlons.' The E￿S of Wales on Edgor HOrt￿rt Thomas. wa8 fdlowed by a talk entitled Consgrvvw Art and Hislory on Paper by conserv8torEmty O'Reilty. knsl and So¢￿ty member Carl Chapple's tal(8bout hls own work was enlltled Portr8tts and P6rfonn8nce. ArtlsL hEtorian. curatsx arml S¢￿4&ty mern￿r Ced Thomas gave a talk on the sl¢xy of the Eumvwales 92 Group. Caramicist Clara Cum68n spjke ab￿1 hgr WO￿ in Betwe￿ my Flnger and my Thumb. The year (￿cIlthd by a talk from tha Sodety's Pr6sldent Dr Peter Wakelin On￿￿ed purs4￿ by a k8oar tts art Mcclurn Bmwn. Study TouY• A slgnlflcant numbar of sluty tours und8rtaken In 2025. A m4or tour of cow￿ and Duss8ldcrt, l•J by Ajan and Jono S•li8bury. look place In the spdro. In Cc4ogne Incl￿ a guided IOUT of the Cathedral and visits to the Wallraf-Flchartz-Museum, tr* Museum Lt&JwvJ. the MAKK and Kolumb8. In D088eldorf, thero were vi81ts lo Mu8wm Insol Hornbmich arKI DO888ldorf Museum. Then In OL*ober,18L*el Davlas and Ced ThcAna¥ led 8 n(xth Wales stu0¥ Iijur. Thls Ir￿L￿ded gulded tour8 of unlverslty campus co1￿ctIons In Abwy8WI arKI 88ngor: a prfvate Collect￿ of Roger Ceal palntlng8; a lo th¢ Royal Cambrlan Academy of Art a pr6sentalk>n by sculptor Davld Nash In his $tudlothpel and drawiTrJlprint workshop., a ￿51t lo Ortel Mon. v#hich indudod a &weSenta￿On by Prof. Gerda Roper on the works In her exhitytbon., and a vlslt to MOMA ma¢￿118th. In addition to th969 major study tours. thwe ￿10 a number ol BIW day evgnt8. Wudkng 80ver81"po up. vIsA8. C8rf Chappkn and Emity O'Rdlty opemd thelr studk)$ lo member¥. Petw Lord gave a cotM1uct8d tour of hi$ curat*J exhibition No Welsh Art al Ihe National Llbrary In Abery$tw￿. Wllllam Glbbs arKI Oavld Mo)re gave a Pfesenlatbn at Y Gaw on 25 ygars of ¢dl8cting by BreckTrxk Art TTUSt. Nigel Princ8 gave a umjidod lour of the Artes Mundl 11 al Amgueddla Cymru. Clive Hicks-Jenkin8 spoke lo M￿nbor8 about Thg Artof 80(* at Hay Ca8119. A small group of mambw5 treahj to a tsJratori81 twr of ts Boop Intwnallonal Paintlng Exhibrthjn al Elysium Galknry. Therg wa8 a vl8lt to Hauger & Wlrth AJ1 Centre io view, inter alk9. m￿hS and Machinos by Niki de Sant Phalle and Jean Tiryuaty and a day viwl to Lampgler to ￿eW the cdleCt￿n of Illustratad took8 of the Unlver&ty ofWale8 Trinity St David 8s well as a o)Ilectkn of ecdesl83tlcal lextlles. After visiting tho univof5ity'5 Chapgl cl Sl Dawd, ￿ twr Cond￿led with a Th￿1￿ to St Peterfs Church to stutty the thurch's remarkatjle StaIne￿lasS ￿r￿y￿s. Flnanclal Support to Thlvd path• Spon8or8hlp was provkjed to Carto Cymru and to lh8 Intemalhjnal Ceramlc8 F8stlval. EIy8lum Gallary & Studh)8 weré given ful￿1ng for Studio heaters. Art85 Mundi was glven support for the Artes Mundl 11 ex￿b￿kIn guide. CONTEMPORARY ART SOCIETY FOR WALES CYMDEITHAS GELFYDDYD GYFOES CYMRU Report of th• Tru¥tw¥ Year End•d 31 D•¢•mb•r 2025 Annual Dlnn•r Thls y8arf5 Annual Dinrer. which was very wel aitended. w88 at the Cla$voom run by Cardiff & Vale College. The rn8￿ ¢omprisod a srA1￿ bonefil and wreed that the Society has fulfilled Its obAedves as set CArt In lh8 constitutkm. E￿lurn Art Llmlt•d Tho SoGiety has Gontlnued its mgmbwshlp of Ety8lum hrt UmiteAJ. AGM The AGM was held on Saturday 26th Juty 2025 at the RNerfffjnl Thèatr6 and Arts Centro. Kingsway. Newport. Al the moetlng Slgve Bthykett rellred from the Execxrtfvo Cmnittee havlng served tsvo te￿8. whilg Jeremy Points wa8 elected for a second tem and Nichola Hope w8s elected as a new member of At the AGM presentsttms were reC4￿j from Amber Mottram. the redFlent ￿ the 2025 CASW Student Award, and from Gw Jone6, the Dlrector of Oriol Plas GIyTry-Wgddw. the recl)I8nt of the 2025 CASW Hibbatd Award. CONTEMPORARY ART SOCIEfY FOR WALES CYMDEITHAS GELFYDDYD GYFOES CYMRU R•port ol th• TN$t• Yoar End8d 31 D•¢omb•r 2025 FINANCIAL REVIEW R•8•lV•6 poIIGy Th8 eharity regularfy rev￿ its investrnert8 ènd reserve levels to ensure that tt has SLrfficient bjnds to rate In the forthcoming year. Thi8 is estfimated lo b8 £25.000. This amount Is ￿ld In N8tlonal S8￿n98 & Investrnenl Bords. Inv•8lm•nt pollcy and obl•ctt¥ The Sedety regulody Ga¥h b810￿ arg helj to er￿urn 6t 1$ M•￿n￿￿ng its Inve8tment retums. FUTURE PLANNING To continue and develop the CASW Student Award. tho CASW Nalthal E16to¢Mlod Pur¢h080 P￿ze and the CASW Hlbbard Award and Its S￿sS to date. To I￿l￿r dovthp and impkn8nt thg stratogl8s provknAty agrood ID kwoas• the membgr8hlp of the S(￿1￿ty. To further deveknp tho S(¢￿8 Wo￿te V*lth Irrtroductlon ol addttional foatvre8. To wnpble the ￿anning for Ihe celebration of the Scthty'8 Annfvor8ary In 2027. To develop long.lerm ¥tr•logy fiYth8 future of the SIX￿ty. Appiove by 0￿1 of boanl oftru81oe8 on 4 March 2026 arKI slpned b•h8M by,. Davlgs- Chalrynan INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CONTEMPORARY ART SOCIETY FORWALES CYMDEITHAS GELFYDDYD GYFOES CYMRU I report i)n the a¢¢ounts of the CharTty for tho yew el¥￿d 31 Decembar 2025. wl*h are get out c*) pages 8and9. R•Apedlv• rn•pon•lbllltl•• of lTh•t•M •nd •¥amln•r The chariVB truBlees arg r05ponsibb for the of Ihg accc4Jnts. The chartty's tnJstaa8 consSd that an audbt Is nol requlrod for thL8 year (under sth 144 ￿ the Chafitigs 2011 (the Charite8 Act)} and that an independont 8XamInatk￿l8 naed&l. 11 Is my respons1￿lIty to: examine the aeKounl$ {urKlw sedlon 145 of the Charlt8s Act); lo follow the procedures down In th8 General Oirections giv￿ by th8 ch￿ Comml88k)ner8 under sectlon 145151{bl of tr* Ch8rfte$ Act)., and lo state whe1fr￿r partlcular matters hav8 CA>m8 to aur attantton. BMI• of Ind•p•nd•nt •x•mln•f• r•port My eXamIna￿On was carrb8d out kn accothnct wllh the General 0*gdk>ns glven ty the Charty CLJnmlsslon8rs. An exanNnèt￿￿1 Irdudes a review of the acco(mtlng rgo)rds kept by the charlty 8nd compadson ol the accounts presented wlth Ih)se records. It also Includes consbd8r8t1￿ of any unusu81 Ilerns or dlsclosures In the accounts. WKI seeklryj 8W8n8thJns from you as truste88 C4JncemlrwJ any such m8ttars. The prc¢odure$ undortakon do rw)t provide al thg evhdence that woukl be requlred in an audli, and consequ8ndy no opinion is gNen as to whethor tha ACC￿nIS W8Sonl a *ru• arKI fairf Vi*4V and tho report 18 limited lo Ihose mthr8 sel (xjt in tho slatamant bèlyw. Ind•p•nd•nt •x•mln•f• •t•t•m•nt In c0Th￿¢t￿ my 0xam1nalh￿. no m•tt6r has cm lo my atttrWc*): 1) which gives me roas(￿alle c4we kn befieve that in any materlal respgct the requlremonl: lo keep accounllng records In accordance wlth sectk)n 130 of the Charit88 Att, and lo prepare accowts accord wth the occountirvj records and comply the aci¥Juntlng requirements ol the Charités Act have not bean met. or 2) to wN¢h, In my oFInI￿. ottorikn shouhl bo dra5￿ In ord•r to onabkn a u)dorstandlng of the ac￿￿nts to bg reach￿1. Graham Burton FCCA Wllllams Rou Llmlt•d Chartered AcGOUntants 4 Ynys Bridge Court Gwaelod Y Garth Cardrff CF15 9SS D8te: CONTEMPORARY ART SOCIETY FORWALES CYMDEITHAS GELFYDDYD GYFOES CYMRU R•celpts and Payments Accounts Y•ar End•d 31 Dec•fflbor 2025 2025 2024 R•¢•lpts Sub8crlpll)n8 Sale of prints l ¢atafogue8 Donal*)ns. ltsgacles and olhor T￿lP Bank and tond interest AdvgrtisNvJ and c¥Jntrlbutbon6 CASW I￿tureS and ovants Study ￿jr$ Glft ald 7.223 387 22,132 2.176 9.040 225 320 3.108 705 12,933 2,802 1,297 30.430 10.070 48,984 Paym•nt• Printing and 5tation¢ry Postago and communication Admlni51r8 Advertising arKI prom(￿On Indepgndenl examinerfs fees CASW lectur88 and evenl8 Study Tour8 Donatk)n$ 3.287 1,016 1,189 2.450 150 8.129 1,448 11.7DJ 29,466 2,997 17.300 35,625 Net Income I lexpondlturn) Bank funds al beglnnlng of year Bank funds trans1orr￿ to invosthwits 13.359 26.313 19.600) 30,072 160.349 (135.CrfJO} 26.313 Bank funds at •nd of y•ar The totsl funds for both years are unreslricts CONTEMPORARY ART SOCIETY FOR WALES CYMDEITHAS GELFYDDYD GYFOES CYMRU Stat•m•nt of ass•ts and liabilti AS 8t 31 D•comber 2025 2Q25 2024 Cash funds Barclays bank balanca8 25.782 Unity Trust Easy Ac¢a88 A(towrt 2025 2024 Inv••tm•n¢ ••••ts NS&I B￿K18 50,000 Unlty Trust . 2 year borKIs 85,C Cambrklga & Count188- 1 ￿r by 35.87S 25.0(K) 170875 The lolal fund8 lor bcth yoors we unrnstrf¢tod. Th8 flnandal slalements V4we apwmd by order d the board of tru8teoJ on 4 March 2026 a￿1 were 513ned on Its behalf by. Ro and Davle8- Chdrman Chrlslopher