Contemporary Art Society

Annual Report and Statement of Accounts 1991 The Annual General Meeting of The Contemporary Art Society wilt be held on Tuesday 7 July 1992 at the Ciore Auditorium, Tate Gallery, Millbank, London S.W.1 at 6.30pm

1. To receive and adopt the report of the committee and the accounts for the year ended 31 December, 1991, together with the auditors' report.

2. To reappoint Neville Russell as auditors of the Society in accordance with section 14 of the Companies Acts, 1976, and to authorise the committee to determine their remuneration for the coming year.

3. To elect to the committee the following who have been duly nominated: David Gordon and Jenny Winkworth. The retiring members are Tom Bendhem and Sir Michael Culme-Seymour.

4. Any other business

By order of the committee

Petronilla Silver Company Secretary

1 May 1992

Company Limited by Guarantee Registered in London No.255486 Charities Registration No.208178

Cover:

Visit by Her Majesty Queen Elizabeth The Queen Mother to The Contemporary Art Society: 80 Years of Collecting at the Hayward Gallery, South Bank, London.

Photograph; Tom Lee PATRON Her Majesty Queen Elizabeth The Queen Mother COMMITTEE REPORT FOR THE YEAR During the year the Chairman, Adrian Ward-Jackson, died. ENDED 31 DECEMBER, 1991 Sebastian Walker resigned, and Philip Pollock and Stephen Nancy Balfour OBE Tumim retired from the committee. David Gordon became Chairman, and Rupert Gavin Honorary Treasurer. David Gordon The Lord Croft, Edward Dawe, Caryl Hubbard CBE, The Lord was co-opted, and Mark Stephens was elected to the McAlpine of West Green, The Lord Sainsbury of Preston committee. Candover, Pauline Vogelpoel MBE The principal activities of the Society continued to be the David Gordon Chairman (from October 1991) promotion of contemporary art and the acquisition of works by Adrian Ward-Jackson CBE Chairman (until August 1991) living artists for presentation to public collections in Great Jeremy Rees Vice Chairman Britain and elsewhere. Both the level of activities and the year Rupert Gavin Honorary Treasurer end financial position were satisfactory and the committee Lady Vaizey Honorary Secretary expect that the present level of activity will be sustained for the Stephen Tumim (until July 1991) foreseeable future. Philip Pollock (until July 1991) Tom Bendhem (until July 1992) The results of the Society for the year ended 31 December, Sir Michael Culme-Seymour (until July 1992) 1991 are set out in the financial statements on pages 23 to 28. Robin Woodhead Richard Morphet The auditors, Neville Russell, have signified their willingness to Penelope Govett continue in office and a resolution proposing their Christina Smith reappointment will be put to the forthcoming Annual General John Keatiey Meeting. Sebastian Walker (until January 1991) Cecily Lowenthal DAVID GORDON Anthony Oppenheimer Chairman Julian Treuherz 1 May 1992 Sarah Wilson Mark Stephens (from July 1991) Jenny Winkworth (from July 1992)

Mark Stephens

DIRECTOR Petronilla Silver CORPORATE BUYING ASSISTANT Leah Byrne SECRETARY Julia Risness ORGANISING SECRETARY Nicola Shane SPONSORSHIP AND MARKETING OFFICER Lucy Sicks CORPORATE BUYING DIRECTOR Tom Tempest-Radford (until March 1992) ACCOUNTANT (PART TIME) George Yates-Mercer

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4 5 The Chairman's report must begin on a sad note; I became urged the Society to use its unique position as an independent Chairman last Autumn following the untimely death of Adrian arts body to campaign in defence of contemporary art - a Ward-Jackson, who began the necessary expansion of the battle that has to be fought over and over again. We have Society's resources. The Society has presented a work by taken this advice to heart but will enter the public lists Richard Long, Untitled 1991 Mississippi mud on paper to the sparingly. Tate Gallery in his memory. The work was purchased from Anthony d'Offay Gallery. The Society needs to raise its public profile and its resources. Your Committee has now adopted a formal statement of the By sad coincidence Mr d'Offay presented a large pottery work Society's role - to encourage the collecting of contemporary art by Andrew Lord to the Society in memory of my late brother by art museums, companies and individuals (the statement in Max Gordon, a collector and the architect of the Anthony full is on Page 29). d'Offay and Annely Juda Galleries and for the Saatchi Collection. He had been a buyer for the Society in 1974. Our work for art museums is tremendously important. We need to raise more money so as to remain in a position to buy works 1991 was an important year in the Society's history. A major of museum quality. We are seeking to appoint a Museums retrospective of the Society's purchases was opened at the Officer so as to be able to work more closely with them. We are Hayward Gallery by the (then) Minister for the Arts, Mr starting a scheme under which each member of the Committee Timothy Renton. It was subsequently visited by our patron, Her is deputed to visit a group of the 50 museum members Majesty Queen Elizabeth, The Queen Mother. The exhibition, regularly. Many regional museums are in a rather depressed which was magnificently arranged by Joanna Drew of the state after years of municipal cutbacks, and we feel that we can South Bank Centre, was a major critical success. The quality of help to raise their spirits and their sights. the works chosen over the years by our buyers is a tribute to our unique approach to the selection of contemporary art; and We have announced the three museums with whom we will be the wide dispersion of such works of quality to public galleries working to build coherent collections -The Towner Art Gallery and museums illustrated the importance of the Society's role. Eastbourne, The Ferens Art Gallery Hull, and Wolverhampton The exhibition is now touring the country. Art Gallery. This Collection Scheme is modelled on the successful collaboration with the Harris Museum and Art A book on the history of the Society - British Contemporary Art Gallery in Preston. We won Incentive Funding from the Arts 1910-1990 Eighty years of Collecting by The Contemporary Art Council, and have been given a generous grant by the Baring Society - was published by the Herbert Press to coincide with Foundation. the exhibition. It takes an honest and thorough look at the Society's work generation by generation. Richard Cork, Frances Our work for companies is also important both because Spalding, Marina Vaizey and Edward Lucie-Smith are among bringing art to the workplace is good in itself and because we the distinguished contributors, with an introduction by Sir Alan can earn fees. We have been working on a large scheme for Bowness. We are grateful to Rank Xerox UK which generously Pearl Assurance's new offices in Peterborough, and have also underwrote the costs of the book and sponsored the opening worked for Stanhope, Unilever, Minorco, and Sundridge Park. party for the exhibition. The Society's relationship with its individual members needs to The annual Art Market, sponsored by Sainsbury's, and held at be defined, and a questionnaire is about to be sent out to Smith's Galleries in Covent Garden from 29 October - 2 discover why people become members and what they expect November 1991 has become an important fixture in the art- from the Society. In line with our strategy, we intend to focus lover's calender. The Market proved fairly resilient in the face membership benefits on activities relating to the of the recessionary forces that have swept away several encouragment of collecting. We believe that our members join commercial art galleries. Around 4,000 people came to the not only for the benefits but as a statement of support for Market, and we sold 577 works. Besides Sainsbury's, we would contemporary art, and we feel that they would be willing to like to thank others who gave us services free such as Rees accept an increase in the level of subscription if this enables us Martin, the art movers, and Derek Birdsall, Pep Sala and Martin to give greater support to museums and to artists. We will Lee at Omnific Studios for their leaflet designs. accordingly be increasing the subscription rate to £30 a year, but with a lower tier of £15 for those of our members who are The Annual Contemporary Art Society Lecture was given this unable to manage what is admittedly a steep increase. year by Nicholas Serota, Director of the Tate Gallery. Mr Serota

7 CHAIRMAN'S REPORT I would like to acknowledge the continued support received (CONTINUED) from The Henry Moore Foundation for the purchase of On the negative side, there were certain areas of income where sculpture, and from the Crafts Council. We are keen to increase the CAS proved itself not to be immune from the general our craft purchases and we are looking for ways of financing recession and therefore suffered declines. this. Members subscriptions declined almost £20,000 to £42,607 as At the Annual General Meeting Tom Bendhem and Sir Michael many companies and galleries cut back their discretionary Culme-Seymour are retiring from the Committee, having expenditures. Encouragingly, however, we are now seeing a contributed much to it. We are pleased to welcome Jenny significant rise in our individual membership on the back of our Winkworth to the Committee. Hayward exhibition.

While I may write this report and chair some meetings the real The income from the Art Market, after seven years of work of the Society is done by its outstanding Director, consistent increase, suffered its first reverse. CAS income from Petronilla Silver, and her hard-working staff Leah Byrne, Julia total sales of over £240,00 fell to £63,600, reflecting Risness, Nicola Shane, Lucy Sicks, and George Yates Mercer, to heightened caution amongst the public. Our costs were better whom many thanks. controlled, showing a fall on the prior year, and the continued generous sponsorship of Sainsbury's helped to offset the majority of these costs.

Bequests and donations fell £15,000 to £19,247 for the year.

Within the Society, our administrative expenses increased to HONORARY TREASURER'S REPORT 1991 was a year of continued advance for the Contemporary £91,382, reflecting the higher level of activity. Our other Art Society. Our purchases of pictures, sculpture and craft for primary area of cost was the Hayward Exhibition book and donation to public collections increased to a new record of events referred to above. £196,700 (some £16,000 greater than in the prior year).

Taking into account all these activities, our final outcome for This means that in the year 1991, the value of the works of art the year was a deficit of £6,626. Given some of the sharp that the CAS either acquired for donation, selected and sold for declines in income during the year, due to the recession, and corporate collections, or selected and sold to the public via the our policy of continuing to increase our purchases of art, then Art Market totalled £775,660 representing 753 pieces of work. we believe that this outcome is a satisfactory one. The size of This is a measure of the influence and importance that the CAS the deficit is easily funded by the reserves that we have built up now plays in the British contemporary art world. in prior, more economically favourable, years.

The other key additional activity in the year was the Hayward During the course of the year, George Yates-Mercer joined the Gallery exhibition commemorating the work of the CAS. The CAS as accountant, working two and a half days every week. events supporting this exhibition, and the production of the His excellent services have greatly enhanced our financial book for the exhibition incurred costs of £43,540. These costs controls, consistent with an organisation of the size that the were kindly and very generously supported by Rank Xerox, to CAS has now become. whom we are most grateful.

The final financial issue to comment on is that the Society Our total income for the year, rose by over £50,000 to total increased its equity holding in the subsidiary company, £319,060. The primary areas of growth for the Society were: Contemporary Art Society Projects Ltd., by £14,998. This - The Rank Xerox support of the Hayward referred to above. increase was required by the continued expansion of Projects; -The Arts Council Incentive Funding of £36,000 which this increase in equity has meant that Projects' borrowings have contributed to the cost of additional salaries. been substantially reduced. -Within Projects, a significant increase in corporate buying fees and income to £171,499 (an increase of £33,765 over the RUPERT GAVIN prior year), as a result of the greater investment of staff and resource in this area, that was referred to in last year's Treasurer's Report.

8 9 February 12 Special evening openings at the Albemarle BUYER'S REPORTS 1991 To be one of the two annual buyers for the Contemporary Art Gallery and Galerie Besson. Penelope Govett Society is both a privilege and a responsibility. Mindful of the discoveries of buyer-predecessors, one approaches the task with March 11 Private view of the Collection of Emil G. exhilaration and trepidation and sets off to seek out some Buhrle at the Royal Academy of Arts. good paintings of this fin de siecle.

July 4 Annual General Meeting in the Clore Inundated with requests, slides and photographs from a host of Auditorium, Tate Gallery. Short talks by CAS artists and dealers, both helpful and hopeful, it was hard to Buyers for 1990 - Richard Morphet and disappoint many talented and discerning people. The policy of Jeremy Rees. the Society is to allow each buyer a totally free hand, so the decisions are finally one's own, which is rare in these July 6 Day trip to Warwickshire to visit the Mead committee-governed days. Gallery at The University of Warwick, Loxley Hall, Alscot Park, and the studio of Richard Conscious of the historic role of the Society in encouraging new Kidd. artists, my main consideration was that my acquisitions should be works of quality and authority and give pleasure and be of July 18 Fresh Art Preview at the Business Design interest to the spectator. Something that I, and others I hope, Centre, Islington. would be happy and impelled to pause in front of in a museum or gallery wherever it might be, and would to an extent, with September 18 Evening viewing of 'A View of the New' at some of the works, represent the mood of 'art' in 1991. the Royal Over-Seas League A painting by Fiona Rae was my first purchase, before her October 30, 31 Evening parties at the 7th Contemporary Art subsequent inclusion on the short list of the Turner Prize. Society Market, Smith's Galleries, Covent Untitled (Yellow Ochre) resists description but includes large Garden passages of splashy abstraction and balanced depths and weights of colour, more physical than discursive. It was shown December 3 Contemporary Art Society Annual Lecture in the recent Contemporary Art Society Exhibition '80 Years of given by Nicholas Serota at the Royal Society Collecting' at the Hayward Gallery, and on tour. of Arts Following a visit to the Carnegie International in Pittsburgh December 19 Party at the Hayward Gallery for The where the next painting was on show, I acquired Lisa Milroy's Contemporary Art Society: 80 Years of Lightbulbs 1991 - an almost abstract grid of electric bulbs Collecting. formally arranged and painted in her distinctive style.

The large biomorphic painting by Nicholas May is concerned with process. The metallurgical content causes the painting to shift and change, interacting with the surrounding space and 3-14 October Foreign Trip in 1991: light and brings to mind the hand of the alchemist. New Orleans, Savannah, Charleston and Atlanta lan Davenport's painting of 1989 is one of his earlier works. Another 'hands off painter he drips and pours cascades of coloured paint from the top to the bottom of the canvas. This painting has an unruly quality - unlike his latest work which is highly controlled and invariably monochromatic. Collecting on a Budget Course Evening sessions of different aspects of collecting Forms without Life by Damien Hirst is a series of vitrines containing assorted shells. Principally a conceptual and installation artist, whose pieces often relate to life and death, the title draws one's attention to the original function and once living occupants of some of the component parts.

10 11 All these young artists come from a talented generation at maintain public premises as of now. Others, however, are in Goldsmiths' College, though even amongst artists that have terms of their public presence, going from strength to strength. shown together and know one another, there is little evidence of a collective imagination in their work. My purchases are all wall hanging works - paintings and works on paper. The largest of all was purchased from that estimable Callanish by Hamish Fulton is a large photograph and text of bi-annual competition, the John Moores at the Walker Art the megalithic monument in the Hebrides, the end point of a Gallery Liverpool, where indeed, the Adam Lowe looked almost 100 mile walk in 1976. intimately at home. I have been a long term admirer of the painting of John Golding, his art to me an imaginative The two Freud etchings are my favourites from those executed concatenation of coloured light: galleries that have them, love thus far. Man Posing is a more resolved work than many, and them and show them, and I always find my spirits lifted when I the Head and Shoulders of a Girl has a poignancy that I find come upon a Golding on my travels. Alan Reynolds represents compelling. This ability to evoke an atmosphere compliments to me that purity of constructivist lyrical geometry where all is the precision and discipline of this artist's technique. a Tightness of light and shadow - a structure. Arturo di Stefano imaginatively echoes the image of the artist with his evocation Kapoor's drawings are not studies for sculpture but of an old photograph of Degas made almost life size. Stephen independent work of art, often dealing with cosmic themes Farthing, too, recalls French literature in his evocation of a wild relating to the mysteries of life and procreation. In the one I domesticity. Michael Porter plays with notions of have chosen, which is bright cadmium yellow, the colour representation, of landscape as photograph, scrawl, scribble - corresponds to one of the four stages of alchemy, xanthosis and painting. Charlotte Verity's elegantly deployed organic (yellowing) in this instance. The opening, or orifice in the fragments suggest whole forests with but a twig or stick centre being the point of access to the hidden interior, 'a still evoked in paint. Amanda Faulkner uses scale to advantage, point at the centre of a chaotic vortex'. investing what seems to be a personal myth with individual emotions. Colin Smith's wardrobes curiously suggest the My task has proved to be an important experience, a rewarding attractive seediness of a B-movie; the paint is succulent. David challenge, and my ardent hope is that the works I have chosen Tindle's calm still lifes and interiors are immaculate and serene. will be enjoyed by many museum visitors, and will be the kind Both the Tindle and the Farthing were featured in a of investment for the future for which hitherto the remarkable exhibition devised by Anne Goodchild of the Contemporary Art Society has had such a commendable Graves Gallery, Sheffield, called The Absent Presence, in which reputation. the ways in which British artists have depicted the interior empty of the human form were demonstrated and analyzed.

Enough perhaps of a breathless recounting of a group of work It is an astonishing privilege to purchase works of art on behalf which should suggest the imagination still to be found in the of the Contemporary Art Society, and therefore ultimately on expanding vocabulary of representational and abstract visual behalf of our public collections. As fashions change, and cycles - languages - and languages of vision. Had funds permitted more well - cycle and re-cycle, the buyer has to decide, for example, could be done. But here is a range of ages and a variety of whether to try for art at the edge, the new, the untried, or, careers and a depth and breadth of perception, to suggest how considering what has happened to prices, the very grandest of the work of artists may and does enrich our own sense of how names with perhaps not the grandest of pieces. to look and what to see.

I made a conscious decision to purchase in so far as possible from galleries: galleries are crucial for the health of art, and are When I was asked to be the CAS Craft Buyer for 1991 I accepted the major public fact and face for artists, acting as publishers eagerly, in the anticipation that the experience would be both (with all the grumbles, sometimes, from both customers and enjoyable and instructive. So it proved, but only after I had artists that that comparison might suggest). Galleries in recent clarified to myself what my policy should be in buying for times have also been under siege, from the recession, of course, public collections rather than for my own home. It seemed that complicated by high rents, inescapable overheads, and the like. the spirit of the individual buying scheme operated by the CAS Three of the eight galleries from whom I purchased work in my requires the buyer to cover a wide range of different craft buyer's year, dedicated as they have been and are, do not materials and traditions and, saliently, that choice should be

12 13 made with the eye and not with the ear, in other words PURCHASES FOR THE YEAR accordingly to personal experience, convictions and taste without regard to fashion and critical diktat. So 1 sought what 1 judged to be works of quality, both aesthetic and technical; if a piece also evinced humour, wit, joie de vivre, so much the better. I was also biased in favour of rich colour and texture, in the firm belief that these properties are especially desirable in works destined for public display. There were, of course, lan Davenport Untitled 1989 household paint on canvas 243.8 x 243.8 cms practical limitations. Buying 12 or so items, my allocated target, Purchased from Waddington Galleries on a limited budget obviously imposed price restrictions so Lucian Freud Head and Shoulders of a Girl 1990 original etching 25/50, 96.5 x 61 cms that, for instance, pots by or Elizabeth Fritsch were Man Posing 1985 original etching 45/50, 70 x 55 cms out of reach, though greatly to my taste. Then, too, I had to Purchased from Desmond Page take account of what had already been bought by my three Hamish Fulton Callanish. A Five Day One Hundred Mile Walk Outer Hebrides Scotland 1975 predecessors in this CAS buying period so as to avoid too much framed photograph with text 118 x 136 cms Purchased from Roger Bevan Damien Hirst Forms Without Life 1991 MDF, melamlne, wood, steel, glass and assorted sea repetition. shells 182.9 x 274.3 x 30.5 cms Purchased from Jay jopling Fine Art Anish Kapoor Untitled 1990 ink, acrylic medium and pigment on paper 76.5 x 55 cms Despite these problems, the whole experience was even more Purchased from The Green Contemporary Art Sale Untitled Set V 1 1990 oil on canvas 136 x 122 x 10.5 cms enjoyable than i had expected. This was in large measure due Nicholas May Purchased from Paley Wright, Interim Art Ltd. to the help and cooperation of the various makers and dealers I Lisa Miiroy Lightbulbs 1991 oil on canvas2Q3.2 x 259.1 cms Purchased from Lisa Mtlroy approached. I thank them all, and i particularly acknowledge Fiona Rae Untitled (Yellow Ochre) 1990 oil on canvas 198 x 183 cms Purchased from the generous help of Kit and John Hart of the Hart Gallery, Waddington Galleries Lin by, Nottinghamshire in my quest for a piece by that wizard woodcarver, Robert Lee; and I am especially grateful for the generous grant from Bonhams which aiiowed me to acquire Arturo di Stefano Degas 1990 oil and wax on linen 168 x 97 cms two superb pots by John Ward. Purchased from Pomeroy Purdy Gailery Stephen Farthing A Room in Saumur 1990 oil on canvas 173 x 207 cms Purchased from Edward Totah Gallery Amanda Faulkner Big Red Journey 1990 pastel, charcoal, chalk on paper 160 x 242 cms Purchased from Flowers East John Goiding Daphne 1991 mixed media on cotton duck 152.5 x 336.2 cms Purchased from Mayor Rowan Gallery Adam Lowe The Homely Protestant 1991 oil and epoxy resin on canvas 180.5 x 333 cms Purchased from Pomeroy Purdy Gallery Michael Porter Close to the Ground Series 1991 pva and oil on paper 138 x 101 cms Purchased from Pomeroy Purdy Gailery Alan Reynolds Structures Group III (4) 19S9 prepared card on wood 120 x 120 cms Modular Study-Mirror 29 & 30 1990 lead pencil on paper laid on card 56 x 66 cms (each) Purchased from Annely Juda Fine Art Colin Smith Wardrobe 3 1990 oil on canvas 183 x 167.6 cms Purchased from Anderson O'Day Fine Art David Tindle High Room 1989 egg tempera on board 67 x 84 cms Purchased from Fischer Fine Art Charlotte Verity Untitled 1989/90 oi! on canvas 70 x 107.5 cms Purchased from Anne Berthoud Gallery

Robin Banks Dish 1990 black jewellery enamel on spun copper with silver and gold coloured design 4 cms high, 39 cms diameter Purchased from Robin Banks Keith Brocklehurst Mesa Ascent 1991 cast ground polished glass bottle 26 cms high, 14 cms wide, 6.5 cms deep Purchased from Contemporary Applied Arts Jason Collingwood Wool, linen and horsehair rug 1991 212 x 100 cms Purchased from Jason Collingwood

14 15 Lisa Collins Inner Spell 1989 woven tapestry, hand dyed wool weft on cotton warp PURCHASES FOR THE RUGBY COLLECTION OF CONTEMPORARY ART 101.6 x 81.2 cms Purchased from Lisa Collins Emmanuel Cooper City Heat I 1991 glazed porcelain jug 27.5 cms high, 26 cms wide, 9 cms deep Richard Gilbert Pizza (Wabash Study) 1991 pastel on paper 102 x 65.5 cms Blue Day 1991 glazed porcelain bowl 15 cms high, 36 cms diameter Purchased from Raab Gallery Purchased from Emmanuel Cooper Maggie Henton Tall pot with lid 1991 dyed cane, plastic tape and wire PURCHASES FOR THE FERENS ART GALLERY, HULL 71 cms high, 30.5 cms diameter Purchased from Maggie Henton Buyer: Robert Cumming Robert Lee Type Face Comedy 1991 wood 70 cms high, 53 cms wide, 5 cms deep Purchased from Hart Gallery, Nottingham Simon Laurie Sleeping Saint's Vision 1991 watercolour and collage John Maltby Two part ceramic form 1990 33 cms high, 25.4 cms wide, 12.7 cms deep Purchased from Simon Laurie Purchased from Contemporary Applied Arts Eileen Lawrence Prayer Stick 1991 watercolour on/and handmade paper and Japanese silk tissue Tall stoneware slab-built pot 1991 46 cms high, 20 cms wide, 7 deep with gold and liquid leaf iridescent acrylic and flakes of mica set into Purchased from Vincent Gallery, Exeter handmade paper 96 x 6 inches Purchased from Eileen Lawrence Large stoneware bottle 1990 tenmoku glaze with kaki decoration William Marshall Bruce McLean Horizonal Dawn 1991 original screenprint and pastel ed.60 59 x 47 inches 39 cms high, 28 cms diameter Purchased from Sheila Harrison Purchased from William Jackson Gallery Ever Evolving 1991 tapestry 52 x 35.5 cms Purchased from Justine Randall Justine Randall Sir Mein Kolner Dom: Blueprint for a New Museum 1980-81 set of 6 stone Michael Scott Tall wooden vessel with iron posts 1991 92 cms high, 30 cms diameter lithograph/silkscreen prints ed.50 75 x 63 cms (each) Purchased from Craft Shop, Festival Hall Blueprint for a New Museum 1981 stone lithograph/silkscreen print ed.50 Pauline Solven Three cornered glass bowl 1991 16.5 cms high, 20 cms diameter 75 x 63 cms Purchased from Sir Eduardo Paolozzi Purchased from Opus 1 John Ward Stoneware pot 1991 20.5 cms high, 15 cms diameter GIFTS TO THE SOCIETY Stoneware Pot 1991 23 cms high, 13.5 cms diameter Purchased from Bonhams, with the aid of a grant from W & F C Bonham & Sons Ltd. Anish Kapoor Untitled 1989 oil and emulsion on paper 75 x 54.4 cms Presented by the artist Richard Kidd Polar Cathedral 1991 oil on canvas 158.7 x 179 cms Presented anonymously Lisa Milroy Lightbulbs 1991 original etching 31.5 x 43.5 cms Presented by the artist HENRY MOORE FOUNDATION

Peter Burke Figure in Niche 1991 found metal and wood 115.5 x 68.6 x 28 cms Purchased from New Art Centre LOANS MADE DURING 1991 lan Hamilton Finlay Obelisk CORDAY LUX 1989 slate 34 x 7.5 x 7.5 cms Purchased from Victoria Miro Gallery To SCOTTISH ART IN THE 20TH CENTURY AT THE ROYAL WEST OF ENGLAND ACADEMY, CLIFTON BRISTOL Alexander Hartley Untitled (Division) 1991 MDF photograph, aluminium, perspex 83.5 x 89 cms Purchased from Anderson O'Day Fine Art Alexander Moffat Portrait of Timothy Hyman August 1987 oil on canvas 112x112 cms Shirazeh Houshiary My Occidental Exile 1998 copper, pure crystal quartz, sulphur molton solder Ron O'Donnell Rare Birds and Soft Leopards 1989 cibachrome type print ed.5 152.4 x 111.7 cms and water, dimensions variable Purchased from Lisson Gallery Anish Kapoor Void Stone 1990 limestone and pigment 119.4x 127.2 x 101.6 cms To HARRY HOLLAND RETROSPECTIVE EXHIBITION AT NEWPORT ART GALLERY, AND THE HERBERT ART GALLERY COVENTRY Purchased from Lisson Gallery David Nash Sliced Wall Leaner (Cherry Stripe) 1991 cherry wood 277 x 36 x 79 cms Harry Holland Shadow 1988 oil on canvas 154.3 x 127 cms Slice Wall Leaner 1991-92 charcoal on paper 140.3 x 94.5 cms Purchased from Annely Juda Fine Art Vincent Woropay Recco's Gecko 1988 bronze ed.6 artist's proof 52 cms high To UNILEVER PLC. Purchased from Gillian Jason Gallery Howard Hodgkin David's Pool 1985 softground etching and aquatint with handcolouring in ink ed.100 63.7x79.1 cms PURCHASES FOR THE HARRIS MUSEUM AND ART GALLERY, PRESTON Monsoon 1988 lithograph with hand colouring ed.85 35.8 x 107.6 cms Southbank, Summer 1988 oil on canvas 175 x 213 cms Dhruva Mistry Her Head 1986 plaster 115 x 95 x 120 cms Lucy Jones Pears and Oranges, Cyprus 1987 oil on canvas 90 x 64.4 cms Light Passion and Darkness (Nos.16 and 19) 1986 gold leaf on plaster Leonard McComb 48 x 46 cms (each) Purchased from Nigel Greenwood Gallery Ana Maria Pacheco Study of Head 1990 polychromed wood 26 cms high Study of Head 1990 polychromed wood 27 cms high Untitled drawing 1990 charcoal, graphite and pastel on paper 73 x 63.8 cms Untitled drawing 1990 charcoal, graphite and pastel on paper 101 x 109.8 cms A Little Spell in Six Lessons 1988 Set of six original drypoints in painted sycamore box ed.6 of 15 Box by Rod Wales, 1989 22 x 22 cms Purchased from Pratt Contemporary Art Boyd Webb Siblings 1989 Unique colour photograph (2 part) 158 x 246 cms Purchased from Anthony d'Offay Gallery

16 17 SUBSCRIPTIONS AND DONATIONS FOR £ £ HE YEAR ENDING 31 DECEMBER Aberdeen Art Gallery & Museums 170 Leicestershire Education Authority 200 Aberdeen: Friends of the Museums 80 Lincolnshire Museums 140 Adelaide, Australia: Art Gallery of South Australia 400 Lincoln Museums & Art Gallery: Friends 60 Ayr: Maclaurin Gallery 300 Liverpool: Walker Art Gailery 200 Bedford: Cecil Higgins Art Gailery 200 Liverpool: University Art Collections Fund 200 Belfast: Ulster Museum 450 London: British Museum Dept. of Prints & Drawings 500 Belfast: Friends of the Ulster Museum 50 London: Victoria and Albert Museum 275 Birkenhead: Williamson Art Gallery 200 Manchester City Art Gallery: Permanent Collection 200 Birmingham: City Art Gailery 200 Rutherston Collection 200 Blackpool: Grundy Art Gallery 200 Manchester University: Whitworth Art Gallery 250 Bolton Museum & Art Gailery 100 Manchester University: Friends of the Whitworth Art Gallery 60 Bolton: Friends of the Museum & Art Gallery 100 Middlesbrough: Dorman Memorial Museum 200 Bradford: Cartwright Hall Art Gallery 200 Newcastle upon Tyne: Laing Art Gallery 200 Brighouse Art Gallery 200 Newcastle upon Tyne: Friends of the Art Gallery 60 Bristol: City Art Gallery 300 Newcastle University: Hatton Gallery 200 Cambridge University: Fitzwilliam Museum 200 Newport Art Gallery 300 Cardiff: National Museum of Wales 5,000 Northampton Art Gallery 200 Carmarthen County Museum 200 Norwich: Castle Museum & Art Gallery 400 Chelmsford & Essex Museum 200 Nottingham: Castle Museum & Art Gallery 200 Cheltenham Art Gallery 200 Oldham Art Gallery 200 Cleveland County Leisure Services 300 Paisley Museum, Art Galleries & Coats Observatory 200 Coventry: Herbert Art Gallery 200 Peterhead Arbuthnot Art Gallery 200 Darlington Museum & Art Gallery 200 Plymouth Art Gallery 200 Derby Museum & Art Gallery 250 Portsmouth City Museum & Art Gallery 200 Doncaster Museum & Art Gailery 200 Preston: Harris Museum & Art Gallery 200 Dudley Art Gallery 200 Reading Art Gallery 200 Dundee Museum & Art Galiery 200 Rochdale Museum & Art Gallery 200 Eastbourne: Towner Art Gallery 200 Salford Museum & Art Gallery 100 Edinburgh: Scottish National Galiery of Modern Art 550 Salford: Friends of the Museum & Art Gallery 100 Edinburgh Art Centre 200 Salisbury: John Creasey Museum 200 Exeter: Royal Albert Memorial Museum 200 Sheffield: Graves Art Gallery 400 Glasgow Art Galleries & Museum 500 Southampton Art Gallery 400 Glasgow University Art Collection Fund 200 Southport: Atkinson Art Gailery 200 Harrogate Corporation Art Gallery 200 Stalybridge: Astley Cheetham Art Gallery 200 Hereford City Museum 200 Stoke on Trent Museum & Art Gallery 200 Huddersfield Art Gallery 200 Sunderland Museum & Art Galiery 200 Hull: Ferens Art Gallery 200 Swansea: Glynn Vivian Art Gallery 550 Hull: Friends of the Art Gallery 10 Swindon Art Gallery 200 Hull University Art Collection 200 Sydney, Australia, Art Gallery of New South Wales 200 Inverness Museum & Art Galiery 200 Wakefield Museum & Art Gallery 140 Ipswich Museum & Art Gallery 200 Wakefield Permanent Art Fund 60 Kendal: Abbot Hall Art Gallery 200 University of Warwick: Arts Centre 475 Kettering Art Galiery 200 Woiverhampton Art Gallery & Museum 200 Kirkcaldy Museum & Art Gallery 200 Wolverhampton: Friends of the Art Gallery & Museum 60 Leamington Spa Art Galiery 200 Worcester City Museum & Art Gallery 200 Leeds City Art Galleries 200 Worksop Museum & Art Galiery 200 Leeds Art Collections Fund 60 200 Leeds University Art Collection 450 Leicestershire Museums, Art Gaiieries & Records Service 230

18 19 FROM PUBLIC ART GALLERIES f FROM CORPORATE PATRON £ CRAFT Aberdeen Art Gallery & Museums 25 Oppenheimer Charitable Trust 1,000 Belfast: Ulster Museum 50 Birkenhead: Williamson Art Gallery 25 Birmingham: City Art Gallery 50 FROM CORPORATE MEMBERS Euromonitor 750 Blackpool: Grundy Art Gallery 25 Baring Foundation 500 Bolton Museum and Art Gallery 25 Bonas and Co. 500 Bradford: Cartwright Hall Art Gallery 25 B.P. 500 Brighouse Art Gallery 25 Charter Consolidated 500 Bristol: City Art Gallery 30 Crowley Colosso Holdings Ltd. 500 Cambridge University: Fitzwilliam Museum 25 The Economist Newspaper Ltd. 500 Carmarthen County Museum 25 Hennig 500 Cheltenham Art Gallery 100 Manpower UK 500 Cleveland County Leisure Services 25 Minorco Services 500 Dudley Art Gallery 25 Ocean Transport & Trading pic. 500 Exeter: Royal Albert Memorial Museum 25 Ove Arup 500 Glasgow Art Galleries & Museum 100 Robert Fleming Holdings Ltd. 500 Guildford House Gallery 30 J. Sainsbury pic. 500 Huddersfield Art Gallery 25 THORN EMI 500 Leicestershire Museums, Art Galleries & Records Service 65 TSB Group pic. 500 Lincolnshire Museums 25 Unilever pic. 500 London: Victoria and Albert Museum 275 Manchester City Art Gallery 25 Manchester University: Whitworth Art Gallery 25 FROM ART DEALERS Annely Juda Fine Art 300 Newport Art Gallery 25 The Montpelier Studio 250 Nottingham: Castle Museum & Art Gallery 25 Benjamin Rhodes Gallery 200 Paisley Museum, Art Galleries and Coats Observatory 25 The Fine Art Society 200 Peterborough City Museum & Art Gallery 25 Anderson O'Day 100 Plymouth Art Gallery 25 Anthony D'Offay 100 Portsmouth City Museum & Art Gallery 25 Berkeley Square Gallery 100 Reading Art Gallery 25 Crane Kalman Gallery 100 Salford Museum & Art Gallery 25 Fischer Fine Art 100 Sheffield: Graves Art Gallery 100 Flowers East 100 Southampton Art Gallery 50 Gallery 10 100 Southport: Atkinson Art Gallery 25 Gimpei Fils 100 Stoke on Trent Museum & Art Gallery 25 Lefevre Gallery 100 Swansea: Glynn Vivian Art Gallery 25 Lisson Gallery 100 Swindon Art Gallery 25 Pratt Contemporary Art 100 Tyne & Wear County Council 25 Redfern Gallery 100 Wakefield Museum and Art Gallery 25 Sue Williams Gallery 100 University of Warwick: Arts Centre 25 Todd Gallery 100 Waddington Galleries Ltd 100 Wildenstein & Co. 100

20 21 ROM OTHERS £ AUDITORS REPORT TO THE We nave audited the financial statements on pages 23 to 28 in Garfield Weston Foundation 2,500 MEMBERS OF THE accordance with approved auditing standards. The Rayne Foundation 500 CONTEMPORARY ART Neville and Emma Shulman 500 SOCIETY In our opinion the financial statements give a true and fair Global Asset Managment UK Ltd 375 view of the state of the company's affairs at 31 December 1991 Andry Montgomery Ltd. 250 and of its deficit and source and application of funds for the I V Askew Charitable Trust 250 year then ended and comply with the Companies Act 1985. Pollock VTS Trust 250 Triangle Trust (1949) Fund 250 NEVILLE RUSSELL Sir Andrew Carnwath's Charitable Trust 200 Chartered Accountants and Registered Auditor Colin Clark Esq. 200 246 Bishopsgate Mrs Frances Barker 150 London EC2M 4PB Mrs Pamela Sheridan's Charitable Settlement 150 28 April 1992 Nancy Balfour Charitable Trust 100 The Marquess of Douro 100 Lady Gibberd 100 Meyer Charitable Trust 100 Robert and Lisa Sainsbury Charitable Trust 100 Anonymous 50

Sir Alan and Lady Bowness 50 THE CONTEMPORARY ART SOCIETY NOTES 1991 1990 Ralph Clark Esq 50 (A company limited by guarantee £ £ Sir Michael Culme-Seymour 50 and not having a share capital) Fixed Assets Investments Le Chat Noir 50 BALANCE SHEET Subsidiary Company 10 15,000 2 31 DECEMBER 1991 Mr and Mrs Alfred Rubens 50 Other 2 34,946 44.601 Mr Timothy Sainsbury, MP, and Mrs Sainsbury 50 49,946 44,603 Mr and Mrs P. Simor 50 The Lady Vaizey (lecture fee) 50 Current Assets Debtors 89,114 84,799 Cash at bank and in hand 96.905 120.884 186.019 205.683

Current Liabilities Creditors falling due within one year 79.907 87.602

Net Current Assets 106,1 12 118.081 £156,058 £162,684

Accumulated Fund Balance at 1 January 1991 162,684 160,571 (Deficit)/Surplus per Income and Expenditure Account (6.626) 2.113 £156,058 £162,684

Approved by the Committee on 28 April 1992 and signed on its behalf by

David Gordon Rupert Gavin Members of the Committee

22 23 THE CONTEMPORARY ART SOCIETY NOTES 1991 1990 THE CONTEMPORARY ART SOCIETY 1991 1990 INCOME AND EXPENDITURE ACCOUNT £ £ £ STATEMENT OF SOURCE AND Income £ for the year ended APPLICATION OF FUNDS £ Subscriptions and donations 31 DECEMBER 1991 from members 42,607 61,987 for the year ended Source of Funds Income tax recoverable on 31 DECEMBER 1991 (Deficit)/Surplus for the year (6,626) 2,113 deeds of covenant 749 2.752 Adjustment for item not involving the movement of funds: 43,356 64,739 Loss on disposal of fixed asset investment (63) (282) Bequests and donations 19,247 34,300 Grants 74,125 81,125 Funds generated from operations (6,563) 1,831 Hayward Sponsorship 43,540 Covenanted income from Funds from other sources: subsidiary company 82,727 65,101 Proceeds on disposal of fixed Income from listed asset investments 9.592 17.358 investments (gross) 4,447 4,333 3,029 19,189 Other interest receivable 8,561 10,980 Net income from Events and Application of Funds Courses for members 3,975 2,574 Purchase of fixed asset Surplus from other activities 3,082 investment (14.998) (19.946) Arts Council Incentive Funding 36.000 £(11,969) £ ( 757)

319,060 263,152 Movements in Working Capital (Decrease)/lncrease in debtors 4,315 (8,268) Less: (lncrease)/Decrease in creditors 7.695 (49.744) Administration expenses 8 91,382 74,505 12,010 (58,012) Auditors' remuneration 1,250 2,500 Hayward Gallery - Publication Movement in net liquid funds and exhibition costs 43,533 lncrease/(Decrease) in bank and cash balances (23.979) 57.255 136.165 77.005 £(11,969) £(757) 182,895 186,147

Add: 1990 Grants allocated to purchases made in 1991 24.259 20,858 207,154 207,005

Less: Grants allocated to purchases to be made in 1992 17.080 24.259 190,074 182,746

Less: Pictures, sculptures and crafts purchased 196.700 180.633

(Deficit)/Surplus for the year (£6,626) £2,113

24 25 THE CONTEMPORARY ART SOCIETY 1 Accounting Policies THE CONTEMPORARY ART SOCIETY 1991 1990 NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS £ £ £ for the year ended Tne f'nancial statements have been prepared in accordance with applicable for the year ended Grants Henry Moore Foundation 40,000 31 DECEMBER 1991 accounting standards. 31 DECEMBER 1991 40,000 Crafts Council 5,000 5,000 a) Accounting convention (CONTINUED) Arts Council - Research 5,000 The financial statements are prepared under the historical cost convention. Harris Museum Preston purchase scheme b) Subscriptions Arts Council of Great Britain 5,000 5,000 Credit is taken in full in the year to which the subscriptions relate Preston Borough Council 19.125 31.125 c) Grants All grants are taken to credit in the year in which they are received with £74,125 £81,125 the exception of those for specific purposes which are taken to credit in the year in which the money is expended. Net income from events and d) Equipment courses for members Office furniture, fittings and equipment are written off in the Income Sale of tickets for visits and parties 7,887 10,917 and Expenditure Account when acquired. Commissions on foreign travel 920 e) Purchases of Pictures and Sculptures 8,807 10,917 No value is included in the Balance Sheet for pictures, sculptures and Costs and expenses relating thereto 4.832 8.343 crafts purchased by or presented to the Society and temporarily £ 3,975 £ 2,574 retained pending presentation to art galleries etc. or in exceptional cases, for sale. Such purchases are written off in the year of acquisition. Administration expenses f) Fixed Assets - Investments Salaries 51,809 35,240 Investments shown as fixed assets are stated at the lower of cost and Employer's National Insurance costs 5,370 3,028 net market value Accountancy charges 1,368 2,260 Printing, stationery, postage and telephone 15,306 13,294 2 Investments 1991 1990 Cost of Annual Report 4,430 3,786 Cost Market Cost Market Irrecoverable VAT 2,334 2,005 Value Value Miscellaneous 7,763 12,044 Office repairs 351 1,303 Listed investments £34,946 £36,403 £44,601 £44,462 Office furniture and machinery 1,832 1,071 Hire of office machinery 756 756 3 Debtors £ £ £ £ (ProfitVLoss on disposal of fixed Due within one year asset investment 63 {282} Subscriptions 3,290 15,581 £91,382 £74,505 Taxation recoverable 44,859 32,132 Other debtors 40,626 9,735 During the year the Society employed four persons on average (1990 - 3) Pre-payments and accrued income 339 3,237 Amount due from group undertakings z 24.114 9 Taxation £89,114 £84,799 The Society is a registered Charity and therefore no corporation tax is payable. 4 Creditors falling due within one year Deferred income 2,210 9,000 10 Subsidiary Company Creditors 51,029 53,428 The Society has a subsidiary, Contemporary Art Society Projects Limited. Social Security and other taxes 3,606 915 Contemporary Art Society Projects Limited receives fees for advice given Amount due to group undertakings . 5,982 pertaining to the purchases of works of contemporary art and commission Grants received allocated to purchases from the organisation of the sales of works of art. As these activities are made in 1992 17.080 24,259 fundamentally different from those of the Society, consolidated accounts £79,907 £87,602 have not been prepared. The profits earned are passed to the Society by means of a deed of covenant. Five members of the committee of the Subscriptions and donations from members Society sit on the Board of Contemporary Art Society Projects Limited but Individuals 21,177 18,265 receive no remuneration for doing so. Public Art Galleries 17,475 23,327 Corporate Bodies 1,750 14,625 On 20 December 1991 the subsidiary company increased its Authorized Dealers, etc. 2.205 5.770 Share Capital to £15,000 and issued 14,998 Ordinary Shares of £1 each for £42,607 £61,987 cash at par in order to provide additional working capital. The Society took up the whole of this issue.

A summary of Contemporary Art Society Projects Limited's transactions for the period ended 31 December 1991 and the financial position at that date is set out below.

26 27 THE CONTEMPORARY ART SOCIETY THE CONTEMPORARY ART SOCIETY PROJECTS LTD. THE ROLE OF THE The Contemporary Art Society encourages the collecting of NOTES TO THE FINANCIAL STATEMENTS Profit and Loss Account CONTEMPORARY ART contemporary art by art museums, companies and individuals. for the year ended 1991 1990 SOCIETY 31 DECEMBER 1991 £ £ The Society spreads the enjoyment of contemporary art and (CONTINUED) Turnover introduces it to a wider public. Fees receivable 142,579 115,234 Donations received 26,948 22,500 Arts Council Grant 1,972 It fosters the enjoyment and understanding of contemporary 171,499 137,734 art and introduces it to a wider public. Administration costs Salaries 41,966 30,162 The Society purchases works of art for gift to some 50 museums Employer's National Insurance costs 4,188 2,891 throughout the country, and also helps museums to build Audit and accountancy charges 1,825 3,000 Printing, stationery, postage collections. The works of art are by living artists. Selection is and telephone 2,985 3,360 entrusted to individuals not to a committee. Advertising 2,256 819 Exhibition expenses 29,876 34,612 The Society, which has extensive contacts and links with artists Packing, transport and travel 1,467 855 and commercial galleries throughout Britain, uses its expertise Miscellaneous 6,540 3,016 Depreciation - fixtures and fittings 1,133 749 to advise and assist companies on the acquisition of paintings (92,236) (79,464) and sculpture. It is completely independent having no Interest receivable 3.625 7.078 contracted artists or stock.

Profit before deed of covenant 82,888 65,348 The Society encourages individuals to collect for themselves Deed of Covenant (82.727) (65.101) and enjoy art by living artists. The annual Art Market provides the opportunity to see and buy reasonably priced art for the Profit for the year 161 247 home. In addition, an extensive range of courses on collecting, a regular newsletter, events, studio visits, lectures and debates Deficit brought forward (1.007) (1,254) provide a 'look behind the scenes'. These activities are Accumulated deficit £ (846) £ (1,007) educational and fun.

The Society also serves as a channel for gifts and bequests of Balance Sheet 20th Century art.

Fixed assets - Tangible assets 4,166 3,345 Current assets As an independent voice the Society bring contemporary art Stocks 4,349 5,591 issues to the notice of opinion formers. Debtors 36,888 26,617 6,225 Taxation recoverable 2,170 A registered charity supported by its members, it receives Prepayments 150 1,511 Amount due from group grants from the Arts Council, the Crafts Council and the Henry undertakings 5,982 Moore Foundation. The resources generated from advising Cash at bank and in hand 10,785 33.996 companies, from the Art Market, and from other activities go 60,324 73,940 directly to purchasing works of art for art museums. The Society Creditors - amounts due within one year is therefore a major support to living artists. Bank overdraft (32,418) Trade creditors (11,371) (3,657) Amount owed to group undertakings (24,114) A.CT. payable (20,682) Other taxes and social security (13,983) (10,354) Accrued expenses (4.300) ( 7.747) (50.336) (78.290) £14,154 £( 1,005) Represented by: Called up share capital 15,000 2 Profit and loss account - deficit (846) (1.007) £ 14,154 £(1,005)

28 29 THE CONTEMPORARY ART SOCIETY

ANNUAL REPORT AND STATEMENT OF ACCOUNTS 1991

20 John Islip Street London SW1P4LL 071-821 5323 Fax 071-834 0228