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THE SPITZ MUSIC CHARITY
(Formerly known as THE SPITZ CHARITABLE TRUST)
FINANCIAL STATEMENTS
31 DECEMBER 2025
Charity Number 1155033
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THE SPITZ MUSIC CHARITY
CHARITY INFORMATION
Charity number: 1155033
Trustees
Dr S Rutherford (Chair) Mr M Browne Ms P Lewis Mr Z Said
Principal Office
272A St Pauls Road London N1 2LJ
Independent Examiner
P Conneely Moore Kingston Smith LLP 5 Godalming Business Centre Woolsack Way Godalming Surrey GU7 1XW
Bankers
Santander 121-123 Camden High Street NW1 7JR
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THE SPITZ MUSIC CHARITY
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
| CONTENTS | PAGE |
|---|---|
| Trustees Annual Report | 1-13 |
| Independent Examiners Report | 14 |
| Statement of Financial Activities | 15 |
| Balance sheet | 16 |
| Notes to the financial statements | 17-26 |
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THE SPITZ MUSIC CHARITY
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The trustees present their report and the financial statements of the charity for the year to 31 December 2025.
Structure, governance and management
During the year the charity changed its name from The Spitz Charitable Trust to The Spitz Music Charity. The change took effect on 25 November 2025. The charity number remains unchanged.
The Spitz Music Charity is a Charitable Incorporated Organisation registered 16 December 2013, its principal office is 272A St Pauls Road, London, N1 2LJ.
The Spitz Music Charity has a board of trustees. New trustees are appointed by the board of existing trustees.
The trustees who served the company during the period were as follows:
Dr S Rutherford (Chair) Mr M Browne Ms P Lewis Mr Z Said (appointed 24 July 2025)
Trustee induction and training
New trustees undergo an orientation day to brief them of their legal obligations under charity law, the committee and decision making processes and recent financial activities of the charity.
Risk management
The trustees have a risk management strategy which comprises:
-
An annual review of the risks that the charity may face
-
The establishment of systems and procedures to mitigate those risks identified in the plan
-
The implementation of procedures designed to minimise any potential impact on the charity should these risks materialise
The work has identified that financial sustainability in the major financial risk for the charity and the management of this risk is via a reviewed reserves policy and retention of sufficient working capital.
Objectives and activities
The charities objectives are:
To relieve the needs of elderly people through the provision of recreational or leisure time activities, provided in the interest of social welfare, designed to improve their conditions of life.
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THE SPITZ MUSIC CHARITY
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
To advance in life and relieve the needs of young people through:
(a) the provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life.
(b) providing support and activities that develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Financial review and reserves policy
The results for the year are shown in the attached financial statements.
The trustees have adopted a reserves policy to address the risks of:
-
Lack of liquidity to respond to new needs or requirements
-
An inability to meet commitments or planned objectives
The trustees are committed to achieving a balance on unrestricted reserves to £30,000.
Achievement and performance
The Spitz Music Charity uses the power of live music to increase wellbeing while reducing loneliness and isolation.
In 2025, The Spitz Music Charity delivered 204 live music sessions and 100 one-to-one sessions across a growing network of care, health and community settings including:
-
Bridgeside Lodge Care Home
-
Great Ormond Street Hospital
-
GP surgeries across Islington
-
Elgin Close and Mildmay Park extra-care schemes
(funded by Art Explora)
- St Thomas’ Hospital
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THE SPITZ MUSIC CHARITY
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
Bridgeside Lodge Care Home
Our long-standing relationship with Bridgeside Lodge Care Home (BSL) remains at the heart of our work. This year marked our eighth year of collaboration and saw the launch of our “Reaching Out” — project, funded by Derwent London, focusing on residents who are most isolated those who rarely attend group activities or who lack family advocates.
Through gentle, sustained visits, we’ve built trust with individuals who previously kept their doors closed. Our real success story in this project is Resident D , who lives with Huntington’s disease. From being entirely withdrawn and isolated, D slowly allowed Spitz musicians to play in the corridor outside his room. We are now welcomed into his room as he sits at his keyboard most of the day, filling the ground floor of Bridgeside Lodge
with the sounds of music. D has begun joining group activities, much to the surprise and delight of carers — other visitors have commented on the change, saying how lovely it is to hear him playing. These quiet but profound shifts are why we do what we do.
The Reaching Out list remains “breathing”: staff recommend residents to be added, those who have become more isolated, and remove others as confidence returns. This adaptability keeps our attention where it’s most needed. Inevitably, some beneficiaries died during the course of the project, and we hope that the presence of live music eased their final days and weeks.”
“The Reaching Out project helps residents who have been isolated feel seen and cared for. It allows them to enjoy something they loved before they became ill, and to feel included again. In A’s case, it made a profound difference — I strongly felt that the music helped him feel calmer and more at peace at the end of his life.”
— Christiana Olawoyin , Senior Nurse at Bridgeside Lodge Care Home
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THE SPITZ MUSIC CHARITY
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
Music instigated by The Spitz continues throughout the home even during our absence. Alongside this new strand, our usual mix of concerts, small groups and one-to-one sessions continued at BSL, with some residents and families now directly commissioning private one-to-ones with Spitz musicians. This not only supplements our funded work but also strengthens the sense of ownership and partnership within the community.
Weekly delivery this year included two formats that complemented each other: concert-style sets on two floors and flexible “wandering” sessions covering all four floors and bedrooms, letting residents engage on their own terms. Unseasonably warm spring weather meant we could begin outdoor sessions earlier than usual, bringing families and neighbours into the music sooner.
“I can’t believe M with the music. His dementia is so advanced he can’t string a
sentence together but as soon as the music starts, all the lyrics come back to him.
I’ll never get sick of seeing that, it’s amazing. It’s amazing.”
Dee Ryan, senior carer at Bridgeside Lodge Care Home
In September, we celebrated Arts in Care Homes Day with a large outdoor concert at BSL, supported by volunteers from TradeWeb, who also funded the event. The success of this partnership has opened the door to further collaboration in 2026.
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THE SPITZ MUSIC CHARITY
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
Hospitals
Great Ormond Street
Throughout 2025, The Spitz delivered weekly live music sessions at Great Ormond Street Hospital (GOSH), funded by The Utley Foundation and Arts Council England. Visiting every week — rather than — occasionally has fundamentally changed our role within the hospital. Our musicians are now familiar faces on the wards, seen as part of the wider support network rather than visiting performers.
We work closely with Play Specialists, who actively request sessions and help direct us to the wards and patients who will benefit most on any given day. Each visit typically covers multiple wards, responding flexibly to the constantly changing needs of patients and clinical staff. We also maintain a regular dialogue with Jamie Wilcox, Head of Volunteering, using short end-of-session debriefs to share feedback and reflect on what we’re seeing on the wards. This simple but effective loop has helped embed our work into the rhythm of hospital life.
Our musicians play for children ranging from newborns to teenagers, as well as for parents who may be spending long, anxious days at the bedside. Respecting each child’s individuality is central to our approach — a 14-year- old’s world is not the same as a 4-year- old’s, and the music must reflect that. Staff have repeatedly commented on how naturally our musicians speak to children, never talking down to them, and on the breadth of repertoire — from nursery rhymes to Radiohead — which means there is often something for everyone in the room.
Being present every week has allowed trust and familiarity to build. Children who are in hospital for long periods now recognise us and look out for music days; staff regularly tell us how pleased they are to see us arrive. For short moments, wards become places of connection rather than just treatment — something that Play Specialists and nurses consistently value.
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THE SPITZ MUSIC CHARITY
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
Stand-out moments in 2025 included a 16-year-old who sang her way through a nerve-wracking cannula fitting to Radiohead and Guns N’ Roses, an impromptu lobby singalong when the lifts broke, and a whole ward party that grew from a single Ed Sheeran request. We’ve also had gentler moments — a distressed baby soothed by guitar, and a father’s request for Tears in Heaven that quieted the room.
In 2025, our hospital work began to extend further :
St Thomas’ Hospital - Antenatal Wards
We made two exploratory visits during 2025 to meet staff and understand the space, following an invitation from Dr Lisa Story (Obstetrics and Fetal Medicine). These initial meetings shaped plans to bring live music onto the antenatal wards, where expectant mothers often spend long, anxious days under observation. Our first live music session took place in November, delivered by Spitz musician Marcus Bonfanti, and was warmly received by both patients and staff. Marcus took requests and adapted sensitively to the ward environment, offering moments of calm, familiarity and gentle distraction. The positive response has given us confidence that this is a setting where live music can play a meaningful role, and we look forward to developing a regular presence in 2026.
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THE SPITZ MUSIC CHARITY
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
Evelina Hospital
During 2025 we began the process of establishing a new partnership with Evelina Children’s Hospital. Working with the Therapeutic Play Service, we initiated the necessary vetting, safeguarding and induction procedures required for work in a paediatric hospital setting. While sessions had not yet begun by the end of the year, this preparatory work is essential and reflects our commitment to entering new environments carefully and responsibly. We expect to begin regular sessions in 2026, building directly on our experience at Great Ormond Street Hospital and bringing the same sense of joy, distraction and comfort to children and families at Evelina. These connections bring us closer to — our goal of providing music from before birth to end of life and, in some cases, beyond, as we continue to play at funerals and memorials for residents we’ve known and loved.
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THE SPITZ MUSIC CHARITY
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
Community and primary care
Our collaboration with the Islington GP Federation continued, placing live musicians in waiting rooms and community clinics as part of social-prescribing initiatives. The most tangible gains came with The Village Practice (N7), where we provided music at coffee mornings, Clean Air Day, and flu/COVID clinics. Patients lingered to chat with social-prescribing staff; queue times felt shorter, and staff described noticeably lighter moods on clinic days.
“I was annoyed my jab was so quick — I had to stop listening to the music!”
“My wife has dementia and rarely goes out; the music kept her calm — it transformed the appointment.”
We also opened outdoor events at Bridgeside Lodge to local GP patients, giving them a chance to experience music in a non-clinical setting. While some events were cancelled due to weather and staff changes at the Federation disrupted momentum, new interest is emerging: clinicians in Newham have invited us to collaborate on a community event at the Bromley by Bow Centre in East London - a pioneering community hub that integrates primary care with welfare advice, training, creative and wellbeing services, embodying a social prescribing model where health and wellbeing are supported through connection, practical help and community engagement rather than just clinical treatment.
During 2025, our growing focus on end-of-life care led to Holistic Harmonies (a CIO delivering singingfor-wellbeing groups) commissioning a consultancy day with The Spitz, following an introduction by Dr Grace McGeoch of the Islington GPs Federation. As part of an Arts Council England application focused on music at end of life, Rachel Waite and Kathy Halter spent a day with us in November 2025 at Bridgeside Lodge Care Home, observing a session and speaking with musicians, Director Jane Glitre, and General Manager Thom Rowlands. The visit prompted discussion around boundaries, emotional labour and best practice, and we value the relationship as an example of peer learning rather than competition within the sector.
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THE SPITZ MUSIC CHARITY
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
Art Explora
We were pleased to continue our partnership with Art Explora, bringing music to extra-care housing schemes at Elgin Close and Mildmay Park. These sessions have become lively, regular fixtures in residents’ calendars and often spill over into shared meals, dancing, and laughter. The partnership remains strong, and we hope to expand it in future years.
Funding and development
2025 tested us financially, reflecting a challenging funding climate in which several long-standing funders changed their priority areas after supporting us for consecutive years. We scaled back summer sessions to protect the charity’s future, and several musicians volunteered their time — a humbling show of trust and shared purpose. Our autumn crowdfunder raised over £14,000, boosted — — by a generous individual private donation. Their support and the relationship that has followed is paving the way for future events and long-term backing.
Our partnership with Derwent London remained strong through the Reaching Out project, while TradeWeb and other long-standing supporters continued to champion our work. We are deeply — — grateful to all our funders from individual donors and corporate partners to charitable trusts whose support makes this work possible.
— Our ongoing aim is to diversify income increasing individual donations, growing earned income (through private sessions), and exploring new corporate partnerships under the guidance of trustee Perri Lewis. The board continues to monitor the balance between grant, private and self-generated income to maintain resilience in a challenging funding climate.
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THE SPITZ MUSIC CHARITY
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
People and governance
The board welcomed Zach Said as a new trustee in July, joining Dr Sarah Rutherford (Chair), Marvin Browne, and Perri Lewis. Jane Glitre (Director) and Thom Rowlands (General Manager) continue to lead operations day-to-day.
Behind the scenes, 2025 saw several team changes:
-
Kate Millett , who has supported our fundraising for several years, left in October after a —
-
handover period we’re grateful for her work and ongoing goodwill.
-
Martha Nicholls joined in an administrative role alongside her work as an HCPC-accredited music therapist, saxophonist and pianist.
-
Iggy Gill-Ces (18) began work on an animation based on the Reaching Out project — a sensitive portrayal of isolation and reconnection that will help us communicate our work more widely. Iggy has also captured the spirit of Spitz music sessions in paintings in real-time (below)
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THE SPITZ MUSIC CHARITY
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
-
Quincy Wareham (16) assisted with sound and technical support at events, part of our effort
-
to engage young people in the creative and social sides of our work.
-
During 2025, we continued to welcome the teenage children of Spitz musicians into sessions where appropriate, including Tallulah Gill-Ces , Tiger Wareham , Zach Hazleton and Isabella Bonfanti (who volunteered with The Spitz as part of her Duke of Edinburgh Award). This supports —
-
both the development of young musicians giving them insight into professional practice in care —
-
and clinical settings and the long-term sustainability of The Spitz. Several of these young people took part in sessions between Christmas and New Year, ensuring that live music continued —
-
at a time when many other services are paused a period that can be especially isolating for residents and patients.
The trustees have begun exploring the creation of an advisory board, to be published on our website once confirmed.
We were saddened to say goodbye to several residents and, as in previous years, have offered families the option of a memorial page on our website, celebrating their loved ones through music. — Several families have requested donations to The Spitz in lieu of flowers at funerals a moving reminder of how deeply our work has touched their lives and how much the charity means to them.
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THE SPITZ MUSIC CHARITY
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
Looking ahead
The year ahead will see The Spitz enter its 13th year, and its ninth year at Bridgeside Lodge, while consolidating our work and carefully extending it into new settings. By 2026, we will truly be “playing the whole life cycle” — from antenatal wards, through care homes and hospitals, to end-of-life care and memorials — offering music wherever it can bring comfort, connection and dignity, before, during and after life.
In 2026, The Spitz will focus on strengthening the foundations of our work while developing thoughtfully in response to what we learned in 2025. Our priorities for the year ahead include:
Embedding our work more deeply in clinical settings
Building on our weekly presence at Great Ormond Street Hospital and the successful pilot at St Thomas’ Hospital, we aim to establish regular delivery at Evelina Children’s Hospital and deepen relationships with clinical teams. Where appropriate, we will remain open to contributing to shared learning, evaluation and research alongside healthcare partners.
Developing our social prescribing work
We will reflect on our GP-based activity to better understand where live music is most effective within social prescribing, and pursue partnerships with organisations that take a genuinely holistic approach to community health — such as the Bromley by Bow Centre.
Supporting the people delivering the work
As our work in 2025 increasingly involved end-of-life care, we became more aware of the emotional demands placed on our musicians and staff. We began creating more intentional space for reflection and peer discussion, allowing musicians to share experiences and process difficult moments together.
In 2026, supporting emotional resilience will be a clear priority. We will continue to build open, structured forums for reflection and mutual support, recognising that delivering this work well — and — sustainably depends on properly supporting the people doing it.
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THE SPITZ MUSIC CHARITY
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
Strengthening our communications and storytelling
In 2026 we will complete and begin using new animated and visual materials that sensitively communicate our Reaching Out work, helping us share impact where photography and filming are not appropriate. This will support fundraising, advocacy and sector learning.
Building financial resilience through diverse income
We will continue to balance grant funding with individual giving, earned income and corporate partnerships, with a focus on long-term relationships rather than short-term growth. Maintaining flexibility and resilience will remain central to our approach.
— The trustees are immensely proud of what The Spitz has achieved in 2025 not only in numbers but
in the quiet, transformative human moments that those numbers represent.
Music continues to reach where words cannot.
www.spitz.org.uk
1155033
Signed by order of the trustees
Dr S Rutherford (Chair)
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THE SPITZ MUSIC CHARITY
Independent Examiners Report to the Trustees
Year ended 31 December 2025
I report to the trustees on my examination of the financial statements of The Spitz Music Charity ('the charity') for the year ended 31 December 2025.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the 2006 Act’).
I report in respect of my examination of the Trustee’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of the accounts set out in The Charities (Accounts and Reports) Regulations 2008 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
� � ���� Peter Conneely FCCA Moore Kingston Smith Independent Examiner 5 Godalming Business Centre Woolsack Way Godalming Surrey GU7 1XW
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THE SPITZ MUSIC CHARITY
Statement of Financial Activities
Year ended 31 December 2025
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|2025|2024|
|Unrestricted|Restricted|
|funds|funds|Total funds|Total funds|
|Note|£|£|£|£|
|Income and endowments|
|Donations and legacies|5|38,458|97,187|135,645|187,473|
|Charitable activities|6|-|11,975|11,975|11,981|
|Investment income|7|686|-|686|740|
|------------------------- ------------------------- ------------------------- -------------------------|
|Total income|39,144|109,162|148,306|200,194|
|=================== =================== =================== ===================|
|Expenditure|
|Expenditure on charitable activities|8|14,132|155,019|169,151|171,195|
|------------------------- ------------------------- ------------------------- -------------------------|
|Total expenditure|14,132|155,019|169,151|171,195|
|=================== =================== =================== ===================|
|------------------------- ------------------------- ------------------------- -------------------------|
|Net (expenditure)/income|25,012|(45,857)|(20,845)|28,999|
|=================== =================== =================== ===================|
|Transfers between funds|(36,284)|36,284|-|-|
|------------------------- ------------------------- ------------------------- -------------------------|
|Net movement in funds|(11,272)|(9,573)|(20,845)|28,999|
|================== =================== =================== ===================|
|Reconciliation of funds|
|Total funds brought forward|81,047|18,353|99,400|70,401|
|------------------------- ------------------------- ------------------------- -------------------------|
|Total funds carried forward|69,775|8,780|78,555|99,400|
|=================== =================== =================== ===================|
----- End of picture text -----
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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THE SPITZ MUSIC CHARITY
Statement of Financial Position
31 December 2025
----- Start of picture text -----
|||||
|---|---|---|---|
|2025|2024|
|Note|£|£|£|
|Fixed assets|
|Tangible fixed assets|12|2,388|3,307|
|Current assets|
|Debtors|13|1,316|-|
|Cash at bank and in hand|81,473|101,107|
|-------------------------|-------------------------|
|82,789|101,107|
|Creditors: amounts falling due within one year|14|6,622|5,014|
|-------------------------|-------------------------|
|Net current assets|76,167|96,093|
|------------------------- -------------------------|
|Total assets less current liabilities|78,555|99,400|
|------------------------- -------------------------|
|Net assets|78,555|99,400|
|=================== ==================|
|Funds of the charity|
|Restricted funds|15|8,780|18,353|
|Unrestricted funds|69,775|81,047|
|------------------------- -------------------------|
|Total charity funds|16|78,555|99,400|
|=================== ===================|
----- End of picture text -----
These financial statements were approved by the board of trustees and authorised for issue on � � ���� ........................, and are signed on behalf of the board by:
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THE SPITZ MUSIC CHARITY
Notes to the Financial Statements
Year ended 31 December 2025
1. Accounting policies
Basis of preparation
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Acc ounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The charity meets the definition of a public benefit entity under FRS 102.
The functional currency of the charity is considered to be pounds sterling because that is the currency of the primary economic environment in which the Trust operates. The financial statements are also presented in pounds sterling.
Amounts are presented to the nearest £, unless otherwise stated
Going concern
The Trustees have considered the ability of the Charity to continue as a going concern. The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern for at least twelve months from the date of approving the accounts.
The Trustees are confident the services provided are needed more than ever. The Managers of the Day Centres and Bridgeside Lodge Care Home feel the Charity is an essential fabric of the way forward to help residents.
The Charity has a number of applications for funding for which it is awaiting approval. Whilst the Trustees acknowledge that not all applications will be successful, they are confident sufficient grants will be received that will enable the Charity to continue for the foreseeable future.
The Activity Co-ordinators at Ealing and Northwick Park Hospitals consider the work of the Charity to be a vital part of a positive patient experience. The Play Specialists and Head of Volunteering at Great Ormond Street believe the Charity is making a real and tangible difference to the children in their care.
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THE SPITZ MUSIC CHARITY
Notes to the Financial Statements (continued)
Year ended 31 December 2025
Accounting policies (continued)
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal.
The restricted fund comprises a single fund and is related to the putting on of music sessions in care homes and hospitals.
Income
All income is included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
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THE SPITZ MUSIC CHARITY
Notes to the Financial Statements (continued)
Year ended 31 December 2025
Accounting policies (continued)
Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment - 20% straight line
Page | 19
���" ������#�������� � � ���� � �� � � ���� � ��� ��
THE SPITZ MUSIC CHARITY
Notes to the Financial Statements (continued)
Year ended 31 December 2025
Accounting policies (continued)
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Cash flow statement
The charity has taken advantage of the exemption in the Charities SORP FRS 102 from the requirement to produce a cash flow statement on the grounds that it is a small charity.
Reserves
It is the policy of the Charity to maintain a balance in unrestricted reserves of at least £30,000 to cover future expenditure. The balance in unrestricted reserves was unusually large at 31 December 2024 due to a one-off unrestricted donation received in late December 2024. Those funds have been used in the year 2025 but the balance still remains higher than usual and the funds will continue to be used for the Trust’s charitable activities in the year to 31 December 2026.
Page | 20
���" ������#�������� � � ���� � �� � � ���� � ��� ��
THE SPITZ MUSIC CHARITY
Notes to the Financial Statements (continued)
Year ended 31 December 2025
5. Donations and legacies
| . Donations and legacies |
||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds | |
| Funds | Funds | 2025 | 2024 | |
| Donations | ||||
| Private donation | - | - |
- |
30,000 |
| Other | 33,458 | - | 33,458 | 24,518 |
| Grants | ||||
| Arts Council England | - | 2,995 |
2,995 | 26,955 |
| Garfield Weston Foundation | - | 20,000 |
20,000 | - |
| Derwent London | - | 10,000 |
10,000 | - |
| Richer Sounds | - | 10,000 |
10,000 | 10,000 |
| National Lottery | - | 19,902 |
19,902 | 10,000 |
| Highway One Trust | - | - |
- |
10,000 |
| Armourers & Brasiers Gauntlet Trust | - | - |
- |
4,000 |
| Joan Ainslie Charitable Trust | - | 6,000 |
6,000 | 3,000 |
| Wise Music Foundation | - | 2,000 |
2,000 | 4,000 |
| City Bridge Trust | - | - |
- |
10,000 |
| Boris Karloff Charitable Foundation | - | 1,500 |
1,500 | - |
| Hobson Charity | - | 9,840 |
9,840 | - |
| Indigo Trust | - | 3,000 |
3,000 | - |
| Marsh Trust | - | 600 |
600 | - |
| TradeWeb Europe Ltd | 5,000 | 2,600 |
7,600 | - |
| Art Explora | - | 3,250 |
3,250 | 3,000 |
| The Skinners Company | - | 2,000 |
2,000 | 2,000 |
| Worshipful Company of Insurers | - | - |
- |
2,000 |
| Jules Thorn Charitable Trust | - | 3,500 |
3,500 | 3,000 |
| Doyly Carte | - | - |
- |
3,000 |
| Helen Hamlyn Trust | - | - |
- |
7,000 |
| Vandervell Foundation | - | - | - |
2,000 |
| The Utley Foundation | - | - |
- |
29,000 |
| Artemis Charitable Trust | - | - |
- |
4,000 |
| Total | 38,458 | 97,187 | 135,645 | 187,473 |
| ============== | ============== | ============== | ============== |
In the year to 31 December 2024, restricted grants of £128,955 were received.
6. Charitable activities
| Unrestricted | Restricted |
Total Funds |
Restricted |
Total Funds |
|
|---|---|---|---|---|---|
| Funds | Funds |
2025 |
Funds |
2024 |
|
| £ | £ | £ | £ | £ | |
| Fundraising events | - | 11,975 |
11,975 |
11,981 |
11,981 |
| =================== | =================== | =================== | =================== | =================== | |
| Page |
���" ������#�������� � � ���� � �� � � ���� � ��� ��
THE SPITZ MUSIC CHARITY
Notes to the Financial Statements (continued)
Year ended 31 December 2025
7. Investment income
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2025 | Funds | 2024 | |
| £ | £ | £ | £ | |
| Bank interest receivable | 686 | 686 | 740 | 740 |
| ============== | ============== | ============== | ============== |
8. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total funds | Total funds 2024 | |
|---|---|---|---|---|
| Funds | Funds | 2025 | ||
| Direct Costs | £ | £ | £ | £ |
| Purchases | 833 | 68 | 901 | 70 |
| Sessional and contract artists | 5,928 | 57,638 | 63,566 | 64,221 |
| Salaries | - | 66,106 | 66,106 | 72,267 |
| Publicity and marketing | 2,150 | 1,090 | 3,240 | 6,082 |
| Travel and subsistence costs | 1,114 | 1,322 | 2,436 | 1,831 |
| Insurance | - | 741 | 741 | 723 |
| General office expenses | 204 | - | 204 | 143 |
| Computer support and website | 191 | 394 | 585 | 3,866 |
| Depreciation | 919 | - | 919 | 627 |
| Project management | - | 13,830 | 13,830 | 9,484 |
| Research and development | - | 13,830 | 13,830 | 9,484 |
| Total | 11,339 | 155,019 | 166,358 | 168,798 |
| ============== | ============== | ============== | ============== | |
| Governance | £ | £ | £ | £ |
| Bank fees | 79 | - | 79 | 90 |
| Accountancy fees | 2,714 | - | 2,714 | 2,307 |
| Total | 2,793 | - | 2,793 | 2,397 |
| ============== | ============== | ============== | ============== | |
| Total | 14,132 | 155,019 | 169,151 | 171,195 |
| ============== | ============== | ============== | ============== |
Page | 22
���" ������#�������� � � ���� � �� � � ���� � ��� ��
THE SPITZ MUSIC CHARITY
Notes to the Financial Statements (continued)
Year ended 31 December 2025
9. Net income
Net income is stated after charging/(crediting):
| Net income is stated after charging/(crediting): | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Depreciation of tangible fixed assets | 919 | 627 |
| ============== | ============== |
10. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| Wages and salaries Social security costs Pension costs |
2025 £ 89,106 2,437 2,223 93,766 |
2024 £ 85,446 4,281 1,508 91,235 |
|---|---|---|
The average head count of employees during the year was two (2024: two).
A proportion of the salary costs have been allocated to project and management and research and development costs.
11. Trustee remuneration and expenses
No trustees received any remuneration during the period. No expenses were reimbursed to trustees in the year.
No trustee had any personal interest in any contract or transaction entered into by the charity during the period.
During the year £300 (2024 : £1,300 unrestricted) donations were received from trustees on the same terms as donations from other supporters.
Page | 23
���" ������#�������� � � ���� � �� � � ���� � ��� ��
THE SPITZ MUSIC CHARITY
Notes to the Financial Statements (continued)
Year ended 31 December 2025
12. Tangible fixed assets
| Equipment | Total |
||
|---|---|---|---|
| £ | £ | ||
| Cost | |||
| At 1 January 2025 | 8,322 | 8,322 | |
| Additions | - | - | |
| ----------------------- | ----------------------- | ||
| At 31 December 2025 | 8,322 | 8,322 | |
| =================== | =================== | ||
| Depreciation | |||
| At 1 January 2025 | 5,015 | 5,015 | |
| Charge for the year | 919 | 919 | |
| ----------------------- | ----------------------- | ||
| At 31 December 2025 | 5,934 | 5,934 | |
| =================== | =================== | ||
| Carrying amount | |||
| At 31 December 2025 | 2,388 | 2,388 | |
| =================== | =================== | ||
| At 31 December 2024 | 3,307 | 3,307 | |
| =================== | =================== | ||
| 13. | Debtors | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Other debtors | 1,316 | - |
|
| ======================= === | ============== | ||
| 14. | Creditors: amounts falling due within one year | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Trade creditors | 2,460 | 60 |
|
| Accruals and deferred income | 1,500 | 1,680 |
|
| Social security and other taxes | 2,225 | 2,842 |
|
| Pension control | 437 | 432 |
|
| ----------------------- | ----------------------- | ||
| 6,622 | 5,014 |
||
| =================== | =================== |
Page | 24
���" ������#�������� � � ���� � �� � � ���� � ��� ��
THE SPITZ MUSIC CHARITY
Notes to the Financial Statements (continued)
Year ended 31 December 2025
15. Related Party Transactions
For transactions with trustees see note 11.
There were no other related party transactions during the year (2024: £nil) which require disclosure under FRS 102 Section 33 and the Charities SORP (FRS 102). No balances were outstanding at the yearend (prior year:£nil).
16. Restricted Fund
| Balance as at 1st | Income | Expenditure | Transfers | Balance as at 31st | |
|---|---|---|---|---|---|
| January 2025 | December 2025 | ||||
| £ | £ | £ | £ | £ | |
| Restricted | 18,353 | 109,162 | (155,019) | 36,284 | 8,780 |
| Fund | |||||
| Balance as at 1st | Income | Expenditure | Transfers | Balance as at 31st | |
| January 2024 | December 2024 | ||||
| £ | £ | £ | £ | £ | |
| Restricted | 29,335 | 140,936 | (151,918) | - | 18,353 |
| Fund |
Page | 25
���" ������#�������� � � ���� � �� � � ���� � ��� ��
THE SPITZ MUSIC CHARITY
Notes to the Financial Statements (continued)
Year ended 31 December 2025
17. Analysis of net assets between funds
| Unrestricted | Restricted | Total 2025 | |
|---|---|---|---|
| £ | £ | £ | |
| Tangible fixed assets | 2,388 | - | 2,388 |
| Current Assets | 71,348 | 11,441 | 82,789 |
| Current Liabilities | (3,961) | (2,661) | (6,622) |
| Total | 69,775 | 8,780 | 78,555 |
| ============== | ============== | ============== | |
| Unrestricted | Restricted | Total 2024 | |
| £ | £ | £ | |
| Tangible fixed assets | 3,307 | - | 3,307 |
| Current Assets | 81,074 | 20,033 | 101,107 |
| Current Liabilities | (3,334) | (1,680) | (5,014) |
| Total | 81,047 | 18,353 | 99,400 |
| ============== | ============== | ============== |
Page | 26