Music Minds Matter
Annual Report and Accounts
Year ended 31 December 2024
Charity Regtstralicffj NL
1199795

Contents
Reports
Refe￿nce and administration details of the charity. its Irusl*s and advisers
Report of the trustees
Independent audrtorfs report
Accounts
state￿nI of financkel &tivibes
156
8a18nce sheet
Principal accovnling p)licies
Notes lo the accounts
18
19
Music Minds Matter

Reference and administration details of the charity. Its trustees and advisers
Trustees
The followng trustees sewj from 1 January 2024 to the
date of this report except where staled..
Clrff Fluel (Chaw) {4)pointed 25 April 20241
Sifvia Montello (resigned 27 August 20241
Reni Adadevoh
Jim Bennei
Stephen Dattrey
JulEtte Edwards
Paul Firth
Melanie Johnson
Gareth Melk)r
Marta Mcmorris
Principal
address
7-11 Britannrd St
London
WC1X 9JS
020 7239 9100
Telephone
Chaiity
registration
number
1199795
Auditor
Buzzacott LLP
130 WcKxl Street
London
EC2V 60L
Solicitors
Hunters Lay LLP
Lincoln's Inn
9 New Square
London
WC2A 3QN
Bankèr5
HSBC Bank p
117 Great Portland Street
London
W1W6QJ
Music Minds Matter 1

Report of the trustees Year ended 31 Oecember 2024
The trustees present their report together with the ￿)Unts of the Music Minds Matter Ilhe'charity'l for
the year to 31 December 2024.
The *¢ounls have been prepared in wJrdan¢e with the ￿)untIng polKies set OLtt on pages 18 10 19
and compty with appltabk Unrted Kingdom Accourrting Standards (Unrted Kingdom Generally
AccepleLI Accounting PraCt￿e). The principles sel (yjt in Accounting and Reporting by Charities.
Slalement of Recommended Pra¢l￿e applicable lo charities preparing their accounts in accordance
with the Financial Reporting Standard applicable in the United Kingdom and Republi¢ of Ireland IFRS
1021. effective from acc(iunling perKxls commencing 1 January 2019 or later, have been followed in the
preparation of this report and &counts.
Introduction
Music Minds Matter was registered as a separate charitable entity in July 2022. The ¢harily has one
member the Musicians Benevolent Fund and aims to delnier a broad range of rrEnlal health support
services available lo the whole MUS￿ industry through driving awareness of the charity lo ensure those
that need supwrt understsnd what is on offer. Our services include offering Mental Health assessments
and therapeutic inlervenlK)ns through our clin￿al partner the British Association for Perfomiance Arts in
hAedicine IBAPAMI, a listening eaf setvice available 24n 365 days a year. an online interactive platform,
self-care sessior¢s and ￿￿er support groups run through our partner Tonic Rider and an annual summrt
to bring together people across the musical ecosystem on world mental health day. providing education
and spollKJhting particular issues in the industry.
Oblects of the charity
To promote the mental health of professional musicians and those who wod( in supporting roles across
the breadth of the music industry and those who have worked in such Toles. by providing support.
information. counselling. guKlance and signposting to a(klrtional sources of assistance.
Musi¢ Minds M8tter 2

Report of the trustees Year ended 31 December 2024
Activl¢les andperfomiance
We know that a career in MUSK presents chalknges aNJ Un￿Ue pressures that can take their toll on
mental heatth. With a signifKant proportKJn of people in music working as freelancers. il is vital that
everyone has somewhere to tum for advice on mental welltEing. MUS￿ Minds Matter offers everyone
in music an Independent place to reach OLrt Io.
Wrth support including a 24rK helpline. mental health as5es5ments, access lo funded counselling. peer
support groups. and a range of tools and resources lo build resilien￿ and recc¥nise the earfy signs of
issues, the charty continues to adapt lo changirtg needs.
Music Minds Matter is here to suppcvt everyone who wants to connect wf(h the help they need and is
working across Ihe industry to improve mental heatth through greater awareness of the support available
and educating others on the actrve role they can tc(J, to make MUS￿ a beacon of positive mental
health.
Improving visibilty - the issue of mental heafth In music
Spreading the wtyd of MUS￿ Minds Matter was a key focus xross the year devebping new ways lo
reach more peop￿ acioss music. whether working on stage. behind the scenes. in a studio or an office.
One of the key aims of MUS￿ Minds Matter is to raise awareness of the issue, engaging others to talk
aL*)ut what factors impact on mental being. what can be donelo improve it lo encourage others lo speak
out and engage in building a more posi(we environmenl in the futu￿. Over the year we achieved 320
media mentions with coverage from the likes of BBC News. The Standard. BBC Radio 3, Vogue, the
Metro, Resident Advisor, NME, The Strad, tk¢oded. Far Out Magazine, and many more.
Visibility with the rnus￿ industry is important loo and we thank the MUS￿ Weeks Awards for naming us
as charty partner, enabling us lo spollighl the need and encourage others lo gel involved. In an
accompanying piece in the leading tiade publicatKTrn. MUS￿ Minds Matter was able to share ils vision
for the future with a wide-reaching audience.
In another milestone, we joined forces wlh BBC Radio 6 Music for Change the Tune, a powerful media
initiative raising awa￿ne$S of online abuse's impact on artists. Musicians and presenters shared
personal stories, broadening our reach. driving engagement. and signposting lo Music Minds Matter's
support for anyone In need.
Building a communty ofAllles and Partners
Marking World Mental Health Day. we introdu(*d our first group ofsix Music Minds MatterAllies. Joining
forces wth these crucial organisations who are, like us. ccThmrtted to building greater awareness of the
mental health support an(J guidanee avaiLible to their members and nehvod(s. The new5 was covered
across the music industry trade landscape. including Music Week. IQ. Classical Music and Music Ally.
The work with our Allies will continue in 2025, aiming to make sure everyone working in music knows
they have somewhere lo lum lo support their ongoing mental health and wellbeing and extending Ihe
support we offer lo meet their needs.
Music Minds Matter 3

Report of the trustees Year ended 31 fkcember 2024
Increasing Connection
Participating in ￿r-t0-peeT knThYledge shariro opportunrties arKI netsvcffking events is crucial to our
reach strategy. ThroughoLrt 2024. we attended a w￿e range of music industry COnfe￿nCeS and
networking events to share knowledge and raise awareness of the iSsL￿s we are working to address.
Scaling our reach and impxt we partKipaled in L4rge-s(ale events such as Night Tirnè Industries
Associath)n conference. Inlemalional Live Music Conferen￿. Independent Venues Day, Generator
LNe, Beyond the MUS￿ and many more. sprealing awareness ￿0$$ the whole of the UK.
In 2024, we connected wf(h so many who represent those we're here to help. JoinirKJ cxjr friends and
partners at events such as The BRITS, Royal Garden Paty. Wornen in Music Awards, Artist and
Manageis Awards, Black Lives in Music Octthr showcase and many more.
Meeting the needs of those we support
97% of users sahd they woukj recommend peer support groups lo others in mus
100% recommendalK>n rale fr(¥n those who accessed mental heayih assessments
100% of counselling appointments scheduled wlhin 4 weeks of assessment
Music Minds Matter offers a range of help to supKK)rt indwhJua15 who are current￿ well learn more about
how to stay well lah)ng wrth hthv they can hdp others lo stay welll lo ￿$￿)nSIVe services provKling help
for those sadty in more urgent need. In 2024, the need for ongoing, dedicaled n*ntal wellbeing support
continued al scaie, with Music Minds Maiterfs expendrture on charitable aclivrties reaching £1.131 k
overall. These funds went to help more than 3,0(Kl individuals right across MUS￿ find the help they
needed, wrth over 5,rKKJ inlervenlions overall through therapy. helpline5 and peer to peer support
se$s￿)nS.
For musicians and those working alongside them - managers, agents, producers and everyone in
between - the challenges remain.. long hou￿, irregular wot*. financial instability and competitive
environments can take their loll. With one in three people in musi¢ reporting poor mental health and
over 216,000 full-time roles in UK music as of 2023, around 36.￿0 peop￿ rnay face mental heatth
challenges each week - and many thousands more freejancers risk isolalK>n or working whilst unwel
wilhoul workplace support. We are afflbrtvjus to meet that scale of den7and and work t(MJelher across
music to highlight the current support available and grow our help to closer match the needs of different
parts of the music ecosyslem.
Bringing people together to foster positive mental health
In 2024, attendance of our online seff-care sessions increased over 300%. wrth 602 participants
receiving tailored wellbein9 adv￿. compare(J wrth 150 individuals in period lo December 2023
These sessions prOV￿e people working in music wrth practical techniques and strategies lo help them
build resilience ducing challenging limes. equipping them wrth preventative tools to use in their daily
lives.
Addrtionally, we expanded our peer support groups, increasing the number of groups from 13 in 2023
10 15 in 2024 and providing 183 people to find guidaftce and solKJarity through Connect￿nS wilh others
facing similar challenges in the indusiry.
MUS￿ Minds Matter 4

Report of the trustees Year ended 31 t*mber 2024
Demand for mental health Serm￿ contrnues to grow. Wth increasing pressures on the NHS and with
financial barriers to private Care. we saw a 58% increase in the number of people access counselling
sessh)ns through Music Minds Matter in 2024, with 1,¢X)1 peop￿ supported. compared lo 633 in 2023.
Our helpline received 1,572 calls in 2024. a lifelirE formany who t￿ed in the moment admce orspecialisl
hdp
Extending our ￿ach right across the music communlty
As a pivotal part ofouT engage￿￿TrI strategy, in 2024 we launched Music Minds MatterAllies, a forward-
thinking initi*ive f￿USed on buikling direct. r￿ningfUl connectN)ns with individuals through
organisalions across the music industy.
This Collaborative nets¥ork plays a vrtal role in shaping the future of our mental heajth services, ensuring
they are designed lo meet the real-world needs of everyL￿e workrng in rnus￿. Starting in 2024 and
continuing throughout 2025. we will work cjosety with our Alfy organis*ions, fostering greater
collaboration to ernp(w￿r them to confjdently &cess resources and support ft)r the wmmunities they
represent
By building greater mental health lrter8cy. we hope our AIIES can become proactive advocates within
their organisations. championing positive mental wellbeing and embedding SUPPOrtive practices in their
daily environments.
We welcomed six pioneering music organisations as our first Allies, signfficanlty expanding our reach
and enhancing the depth of our impact across dwerse musrc communrties.
Transfomi
The impael of Musi¢ Minds Matter continues lo transfom7 not only the Iwes of those we're here lo
support, bul also the future for all woiking In Mus￿.
Our strategic inlervenlK)ns revEw in 2024 toc* a deep dive into mental heallh challenges in music,
identifying key risks and evKlence-based solut￿n$ that will shape impactful changes in 2025. These
include".
Gettlng ahead of issues
Finding ways to prevent poor mental health is a gr(wing focus of our work within Music Minds Matter.
Identtfying key risks wh￿h lead to issues, we are deS￿nIng tools lo help indNiduals and teams recognise
risks lo wellbeing and reduce them across the breadth of spaces people work in music. whether that's
in a sludKJ, an office, or on the load on tour.
Empowering teams
Relationships are ¢ritical in music and we will add value lo these vital conr*ions by provKling guidance
on whal lo do if you're womed aboul someone else in music. Offering fresh guidance, training, and
advice to empower Colleagues lo act when concemed for others.
Music Minds Matter 5

Report of the trustees Year ended 31 December 2024
Wldening eligibllity
The music community is constantty evofving so we lake a proactive approach lo reviewing the types of
work in music that enable eligibilty for our support. We have broadened eligibilty criteria lo reflect
today s dynamic MUSK communty, provTrding even more of muSlG'S people wlh all-important services.
Supporting at pressure polnts
Listening lo people across MUS￿ has helped us understand what contributes lo worry. pressure and
burnout, including periods such as festival season. working nighl and going on lour. We are shaping
new serwces to delwer targeted mental heaAh support during these hwJh-presSU￿ times.
Together, these inilkglives position us lo better meet evofving ne￿$ and create a stronger, healthier
musi¢ ecosystem.
Future plans
As we look fO￿ard lo 2025, Must¢ Minds Matter will continue lo be drNen by an ambitious vision to
meet the needs of those who may benefrt from our Charity s care and support. Our focus remains clear..
adapting and expanding lo m￿1 the changing needs of those we serve and make a18ngible and lasting
difference lo the Iwes of thousarnls. Through Ouf charrty we want peop￿ working in music to thrive
artistically, and mentalw.
Research in the issues which IMp￿t menlal health outside of the musicians population will be delivered
early in 2025, allowing us lo eV0￿e and grovm oui support for p￿>Ple working In MUS￿ where there is
high pressure and intense schedules wh￿h can take their Idl.
Music is a vnfying and posrtNe forCeWh￿h brbngs pec?￿tcrfJether around a common love. a memorable
moment. In today's world this is needed more than ever. We will grow our connedions in 2025,
expanding our networf¢ of partnerships and supporters and engaging MO￿ Allies, advocates and
partners lo help us spread the word ol our support. and the need lo supty)rt us lo reach more people
with help.
Financlal review for the period
Total income for the year to 31 De¢ember 2024 was S2,420k and consisted of grants from the parent
charrty which were restricted to the Music Minds Matter ch￿lty and donatK)ns.
Expenditure in the peric*J on direct charitable aclivib.es lotalled £1,131 k. SpeThl of £1,056k on wellbeing
activities made up the majority of costs and mainly related to mental heatth 8ssessmenls and therapeutic
interventions provided by our clinical partner the Bri(ish Association of Perfoming Arts in Medicine
IBAPAMI. We aL80 spent £6k on prowding bursaries to support the increase in global majority
therapisls. A further £68k was S￿nt in the peri￿1 on raising awareness of our work through our Music
Minds Matter expk)re interactive t￿1.
Net surplu5 for the year of £1.258k was Tecorded wrth total funds carrth forward of £14k.
Music Minds Maller 6

Report of the trustees Year ended 31 December 2024
Reseryes policy
The charty has a grant agreement in pLgce WTth the parent charty the Musicrans Benevolent Fund to
cover any anticipated net deficit positwjn in 2025. Gr(yJp reserves as of 31 D￿ember 2024 were £49.Om
which comprises £33.3m of general reserves. £2.2m of desYJnaled funds Irepresenling nel book value
of fixed asselsl.. and £13.5m of reslricled and endcN4ment funds that are held for awarding specific
creative glanls.
Although the charity is in rts second year as an independent charity. rt has a target to be fully self-funded
by the end of 2025 and this wll be achieved through raising more awareness of the charity and
increasing income generating act￿￿e$ mainty through corporate partnerships along wrth a grant
agreement in pl￿e from the parent charty. For 2025 we plan to generate an operational surplus lo
start to buikj up financial resilience and reduce reliance on the parent charity.
Risk management
Management ofthe Sliategic Risk Register is the responsibility otthe Chief Ex￿LrtIye and the Executive
Team of the parent charity.
The oversight of risk management of Music Minds Matter IES with the Music Minds Matter Board ol
Trustees. The Strategic Risk Regisler was last reviewed by the Mus¢ Minds Matter board in September
2024, during wh￿h three br(￿1 categ￿leS of strategic risk ￿re Klenlrfied..
Fundraising Tisk- a shortfall in funds raised.
Reputational r￿k- failure lo make a positive impact on beneficiaries.
Failure to meet all reiev8nl regulatory requiremènts.
All risks are analysed, and M((￿ation slrategies are devek)ped. The table below shcms a high-level
summary of how this pr￿e$S was used. foi the Charity's lop three risks
Category of risk
Mitigation strategy
Effects of mitigation
Shortfall in available
finan¢e due to
ftjndraising challenges
Quarterfy monitoring. reporting.
and forecasting.
Earty ￿entIfIcation of financial risks,
enabling ¢orre¢live slralegies.
ReguLor review of the external
environment, benef￿lary needs
and potential donors.
Earty Klentrfication of strategi¢
rdationships for the donor pipeline.
MUS￿ lovers th)nate signifi'cant
nounts towards our work meaning
we could continue lo support
thousands of musicians.
Our fundraising effort has been
focussed on raising money for
our programme of seNices with
expendrture commitmenls only
made when funding is assured.
Music Minds Maller 7

Report of the trustees Year ended 31 December 2024
Category of risk
Mitigation strategy
Effects of mltigation
Repulalional risk by
failing to make a posrtive
impact on beneficiaries
Continuous monitoring and
reportrng on Im￿t.
Earty hlentrfKation of performance
issues, enabling eady corrective
slralegies.
Continuous development of the
¢harity's knowledge base on the
needs of Peop￿ working in the UK
musi¢ industry, and evidence that the
charty is meeting those needs.
PrO￿tive ￿search. evaluation,
and impact anatysis lo
continuousty Mlentfy and
address unmel need.
Appropriate measures are taken
by the team ak)ngside our
partners who delNer Servi￿ on
behalf of MMM to ensure the
safety of all beneficraries
engaging wlh the charty.
Eady idenlif*¢ation of musi¢ian's
n￿dS enabling ¢offe¢ting slralegies.
Failure to comply with
regulatory requirements
Highty proacttve approach to
Identifying all regulatory
requirements, undertakiThJ gap
anatyses. and imptementing Ihe
necessary changes.
Clear insight into ￿velS of
¢(XnpIian￿ levels. Improvement
plans developed as early as
tK)ssible. Organisalion-wide
awareness and involvement.
Governance
Music Minds Matter is a charty reglslered in England and Wales11197951. The charity is govemed by
a Board ol T¥uslees. chaired by cl￿ Fluet. urKler powers defined in rts constrtutK)n.
Music Minds Mattel is a Charrtable Irthrporaled Organisalion and is also controlled by Help Musicians.
Sttucture, govemance, and managemertt of the Charity
The charity is coMpr￿ed ol..
Board of Trustees - The Board detines Ihe charity's sts*egic direction and policies. Trustees
ensure that the *ivitEs of the Chanty are in &cordance wrth ils constitutK)n. They are also
aware of the need to be iesponsive lo the changing work trends and circumstan￿5 of working
musicians.
Sub-committees - The sub-committees of Help Musicians (Finance and Audit Committee,
Nominations Committee and ReMuneral￿nI oversees the finance, Iruslee recruilmenls and
remunerations of Help Musicians and Music Minds Matter
The Board operates an equal opportunities tecruitment poI￿Y and Trustees are required to have
demonstrable experien¢e in the areas idenltfEd by a skills audrt. New Trust*s follow a similar induction
pr(tess lo that of all new staff lo gain an understanding of all asixts of our woth We provide ongoing
training as needed and Trustees are aLso required to gain a full understanding of the role's legal
obligations.
MUS￿ Minds Maller 8

Report of the trustees Year ended 31 De￿mber 2024
Key management personnel
The Trustees consider the key management personnel of the charty to be the Chief Executive and the
Executive Team ol Help MuSK￿n$. The remuneration of the Chief EXeCUt￿e and the Executive Team
is reviewed annually by the Remunerslion Committee and sel wrth reference to recent trends in the cost
of living and average earnings, benchmarking againsl other similar charities, and individual
performance. Trustees give their bme freety. There have been no Tnjstee expenses in the peri(xl and
related party transactions are di5cbsed in nole 9 to the ace(yJnls.
Complaints
Sometimes things can go wrong. We treat every comFAainl rais&J seriously, ensuring a proper
Invest￿ation is conducted and the appropriate response is given in a timety manner.
Fundraising Practl¢e
Music Minds Matter wor1(ing wrthin Help Musicians &*es very SerI￿$1Y the relationships we have with
donors and volunteers and none of our a¢twity should conwromise their priv&y. put anyone under
undue pressu￿ or be unrea50nabty persistent. Our fuTKlraising activty does not include direct mail or
street collecting and we do not send ￿t any uns0[￿lled communications. We have not received any
complaints about our fundraising activrties during the perKxl covered by this report.
We are hugety grateful that many communty-based supporters voluntarily raise money in aid of Help
Musicians, and atthough we provide advice regardiThJ this actwty, we do not directty control or monitor
these aCtN((￿S.
We aim to be transparent in everything we do, aThJ throughoul the year. the ¢harity reviewed 115
fundraising practices lo ensure they are in line with besl practice whilsl complying with the Infomialion
Commissioner's Office Direct Marketing guidelines. We ale acbvety working towards full complian
with the General Data Protection Regulations IGDPRI which will invofve a pro&tive audit of all donors
lo gain consent for the charity to relain their contact detaits its datsbase where legitimate interest is
not appluble.
Musi¢ Minds Matter exF*cts all third parties that it wo￿$ with to meet the same high standards as ils
own staff. As such, we embedded a more stringent aPpr￿h to our contractual agreements. one that
clearfy oullines our expectsb'ons about ethical behawour and Complian￿ wlh the requirements of the
GDPR
Data Protection. GDPR and infomiation govemance
We keep all of our data safe and secure and Ihe parent charrty has a privacy policy In place and a
dedicated resource in our IT team to ensure our syslems and the services we provide are compliant and
support our ongoin9 adherence lo the UK General Data Protection Regu￿tiOn Our updated Privacy
Policy can be found on our websrte and is uwlated as requir8J by changes in legislation and poI￿Y
The personal data that the charity Pr￿SseS IS to".
Provide inforniation and grants.
Promote events.
Music Minds Matter 9

Report of the trustees Year ended 31 De¢eft￿*r 2024
Send news and updates.
Recruit v(Aunleers and donors.
Make hJndrai8ing appeaLs by wnail. telephone. and face-t￿f￿ m*lrngs.
Trust8es' responsibilities statement
The Iruslees are responsible for preparing the tws1￿, report and *counls in accordance wilh
applicable law and Uni(ed Kingdom Accounting Standards (United Kingdom Generally Ac¢epled
Accounting Pr￿t￿e).
The law applicable to charities in England and Wales requires the trustees to prepare accounts for each
financial period which give a true and fair oflhe slate of affairs of the charty and of the income and
expenditure of the charity for that period_ In p￿paring these accounts. the trustees are required to.
seknl suitable accounting poliues and then appty them ￿￿SistenI￿,.
obsetve the methods and pri￿lpleS in Accounting arKI Reporting by Charrties". Slalemenl ol
Recommended Pr&b'¢e applicable lo charrties preparing their accounts in accordance with the
Financial Reporting Standaid appl￿ble to the Unf(ed Kingdom and Republic of Ireland IFRS 1021,.
make judgements and eslimales that are reasonable and PfLKlenl'
stale whether applicable Untted Kingdcxn Acc£Junling Standards have been fdlowed, subject to any
material departures di8ch)sed and explained in a¢¢oun15,' and
prepare the aecounls on the going concem basis unless rt is inappropriate to presume that the
charrty wll continue in operatKJn.
The trustees ale responsib￿ for keeping proper accounting recDrds that disclose with reasonable
accuracy al any lime the finan￿al rM)siIK)n of the charty and enable them to ensure that Ihe a¢¢ounls
compty with the Chanlies A¢1 2011, applicabfe Charity (Accounts and Reports) Regulations and the
provisions of the Conslrtulion. They are 81s0 responsible for safeguarding the assets ol the charity 2nd
hence for taking reasonable steps fL¥ the preventKJn and detectron of fraud and other irregularities.
Signe
behalf of the trustees
stee
Approved by the Iruslees on".
Music Minds Maller 10

Independent auditor's report Year ended 31 DecemtEr 2024
Independent auditorf$ report to the trustees of Music Minds Matter
Oplnion
We have audited the accounts of MUS￿ Minds Matter {the '¢harty'l for the year ended 31 De￿mber
2024 which comprise the statement of financial aclivrtes, the balance sheet. principal accounting
k)licies and the notes lo the accounts. The financial reporting framework that has been applied in their
preparation is applicable law and Unrted lQ'ft9Jom Accountir¥J Standards, including Financial Reporting
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United
Kingdom Generalty Acceptaj Accounting Pr￿￿).
In our opinion, the aco)unts'.
• give a true and fair view ofthe slate ofthe charty's affairs as al 31 December 2024 and of ils income
and expenditure for the period then ended..
+ have been prO￿riY prepareAI in accordan￿ with Unfted Kingdc¥n Generalty Accepted Accounting
Practice", aNJ
+ have been prepared in accordan￿ %Mth the r￿UIrementS of the Chartlies A¢t 2011.
Basis for opinion
We conducted our audr( in accordance wrth Inlem*K)nal Standards on Auditing (UK) {ISAs IUKII and
apPI￿able law. Our responsibilrties under those standards are further described in the auditor's
responsibilities for the audrt of the accounts section of our report. We are independent of the charity in
accordance wrth the ethical requirements that are relevant lo our audit of the accounts in the UK,
including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audrt evidence we have obtsined is
sufficient and approprk?le lo prOv￿e a basis for our opinion.
Conclusions relating to golng concern
In auditing the accounts, we have concluded that the trustees, use of the going concem basis of
accounting in the preparation of the accounts is approPr￿te.
Based on the work we have perfom)ed, we have not Identif￿ any material uncertainties relating to
events or condrtions that, individually or collecltvefy, may cast significant doubl on the charity's ability
lo continue as a going concem for a pericxj of al least iwelve mnlhs from when the accounts are
aulhonsed for issue.
Our responsibilit￿S and the responsibilities of the trustees wth respect lo going concem are described
in the relevant sections of this report.
MUS￿ Minds Matter 11

Independent auditor's report Year ended 31 December 2024
Other inforniation
The other infonralion comprises the inf0m￿tIOn included in the annual report. including the twslees,
report, other than the accounts and our 8uditor's report Ihereon. The Iruslees are responsible for the
other information contained within the annual report. Our cyinion on the accounts not cover the
other information and we do not express any fom of assuran￿ conclusion thereon.
Our responsibilrty is to read the other inf0m￿tion and, in doing so. Consider whether the other
information is materially inconsistent wlh the accounts or our knowledge obtained in the couise of the
audit or otherwise appears lo be materialty misslaled. If we idenlrfy such material inconsislencies or
apparent material misstatements, we are required to determine whether this gtves rise to a material
mis51alement in the ac¢¢xJnts them5efves. If. bas￿1 on the work we have performed, we ¢onclLJde that
there 15 a material misstslement of this other infomiation. we are required lo report that fact.
We have nothing to ieport in this regard.
Matters on which we a￿ required to report by exception
In the light of the kn(￿￿ge and understanding of the charity and f(s enwronmenl obtained in the
Course of the audit. we have not idenlffied material misstatements in the Iru5tees' report
We have nothing lo report in res￿1 of the follovling matters in relat￿n lo which the Chartties
(Accounts and Reports) Regulations 2008 requires us to report lo you rf, in our opink)n'.
the infom)alion gwen in the trustees, report is inconsistent in any material resped wrth the
accounts". or
sufficient ¥counting records have nol been kept.. or
• the accounts are not in agreement with the accounting records and relums" or
we have not weived all the informat]on and explanations we require for our audit.
Responsibilities of tmstees
As explained more fulty in the trustees. responsibilrties statement, the trustees are responsible for the
preparation of the accounts and for being Satisfied that they gwe a true and fair view. and for such
internal control as the Iruslees delemiine is necessary to enable the preparation of accounts that are
free from material misstatement. whether due to fraud ot error.
In preparing the accounts, the trustees are responsib￿ for assessing the charity's ability to continue as
a going concem, disclosing, as applicable, matters rdaled lo going concern and using the going
concern basis of accounting unless the trustees either intend lo1¥4uidate Ihe charity or lo Cease
operations, or have no realistic aliemalsve but to do so.
Music Minds Matter 12

Independent auditor's report Year ended 31 D￿mber 2024
Auditor's responsibiliti6$ for the audit of the accounts
We have b*n appointed as athjilor under section 144 of the Chanties Act 2011 and report in
accordance with the Act and relevant regulations made or having eff&t Ihereunder.
Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free
from material misstatement, whether due lo fraud ￿ error, and to issue an auditorfs report that
includes Our opinion. Reasonable assurance is a h￿h level of assurance, but is not a guarantee that
an audr( condiJ¢ted in accordan￿ wrth ISAS (UK) will always detect a material misstatement when it
exists.
Misstatements can arise frcxn fraud or error and are conSide￿d material if. indivrdually or in the
aggregate, they could ieasonabty be expected to influence the economic decisions of users taken on
the basis of these ￿OuntS.
Irregularities. ineluding fraud, are instances of ￿n-cOMpl￿gnce wrth laws and regulations. We design
pr(Kedures in line wtth our responsibilrties. othlined above. lo detect material misstatements in respect
of irregularities, including fraud. The extent to whtch our procedures are capabte of detecting
irregularities, including fraud. is detailed bel(Y4V".
Our approach lo identfying and assessing the rTsks of material misstatement in res￿1 of irregularf(ies.
including fraud and non-complian￿ wrth I￿ and regUl*K￿s. was as follows."
+ the engagement partnef ensured that the er￿ag￿ent team collecttvely had the appropriate
competen￿, capabilit￿S and skills lo ￿nIrfY or reccgnise nOn-complk8n￿ wlh applicable laws and
regulations..
+ we identified the laws and regulations applicable to the gTOUP and charitable parent company
through discussions with management. and from our kn￿wledge and experience of the se¢lor'.
we focused on specth'c Laws and regulat￿nS wh￿h we COnsKJer￿ may have a direct maleri?l effect
on the financial statements or the operations, including Acc￿ntIng and Reporting by Charities..
Statement of Recommended Practice applrcabje to charrties preparing their accounts in accordance
with the Financral Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and
the Charrties Act 2011..
we assessed the extent of ccxnpliancewrth the laws and regulations idenlffied above through making
er￿ulneS of management and inspeth.ro ￿al correspondence", and
identrfied laws and regulations were communicated within the audit team regularty and the team
remained alert to instan￿$ of non-C(Mnpliance Ihmughout the audit.
We assessed the susceplibilrty of the Charity's financial slalernents lo m*erial misstalemenl, including
obtaining an understanding of fraud might occur, by-.
making enquiries of management as lo where they consKlered there was susceplibilily lo fraud,
their knowledge of actual. suspected atKI alleged fraud", and
MUS￿ Minds Matter 13

Independent auditor's report Year ended 31 December 2024
Auditorf$ responsibllStle$ for the audit of the accounts (continu￿)
considwing the intemal controls in Pl￿ to mitwJale risks of fraud and non-complian￿ with laws
and regulations.
To address the risk of fraud through management bias and override of controls. we."
perfor￿Ed an8Wul procedures lo Mlenttfy any unusual or unexmed relationships,"
• tested joumal entries lo identify unusual transxtK)ns', and
assessed whelherjudgements and assumplh)ns made in detemiining the accounb.ng estimates sel
out In the accounting policies were Ind￿at￿8 of Potential bias.
In response to the risk of irregularities and ￿n-cOmPlrdn￿ with laws and regulations, we desoned
procedures wh￿h included, but were not limrted lo..
agreeing financial slalement discbsures lo underlying supporting documentation..
reading the minules of the Truslee meetings.
enquiring of management as lo actual and potential Irtwion atKJ claims.. and
revwing any availabte Corresponden￿ wrth the Charty Commi55ion and cAher regul*ors.
There are inherent limitations in our audtt procedures described above. The more removed that laws
and regulations are from financial Iransaclions, the less likely it is that we would become aware of
non-complrance. Auditing standards also limf( the 8￿j11 piocedures requi￿ to identify r￿n-COmplIan
with laws and regulations lo enquiry of the tnjstees and other management and the inswtion of
regulatory and legal correspondence, if any.
Material mi8slatemenls Ihat arise due to fraud can be harder lo dele¢t than those that arise from error
as they may involve deliberate Cor￿aIn￿nI of colluswjn.
A further description of our responsibilrties for the audrt of the &counts ¢5 IcKaled on the Financial
Reporting Council's website al www_frc.org.uklauditorsresponsibilrties. This description foms part of
our audiloi's report.
MUS￿ Minds hAatter 14

Independent auditor's report Year ended 31 December 2024
Use of our report
This report is made solety lo the charity's trustees. as a body, in accordance with Part 4 of the
Charit￿$ (Accounts and Reports) Regujations 2008. Our audrt work has been undertaken so that we
might state lo the charity's trustees those matters we are requi￿ to slate lo them in an auditorfs
report and for no olhei purpose. To the fullest extent pem)itted by law, we do not accept or assume
responsibility lo anyone other than the charity and the charrty's trustees as a body, for our audit work,
for this report, or for the opinK)ns we have formed.
Buzzacott LLP
Statutory Auditor
130 Wood Street
London
EC2V6DL
Dale
Buzzacott LLP is eligible lo acl as an audrtor in terms of s￿t￿n 1212 of the Companies Act 2006
Music Minds Matter 15

Statement of financial activities Year ended 31 December 2024
Peri￿1
fw26
July
2022 to
31 Dec
2023
Tot
2024
Total
rooo
Unrestrthd
£'ooo
Note
Income from..
Donations
Grants
59
2,361
59
2.361
Total Income
2.420
2.420
Expanditure on..
Raising funds
Charitable activf(ies
Wellbeing services
Educational and project giants
Raising Awareness
Total expenditure
31
31
1,056
1,056
1.636
25
Tl
1, 733
1.162
1.162
Net Incomellexpenditurel and net
movemènt in funds
1,258
1.258 (1,244)
R&conciliation of funds
Total lunds brought fO￿ard
(1.2441 11.2441
Total funds carried forward
14
14 (1.244)
All of the charty's aclmlies derived from continuing operations duriThJ the above financial peiiod.
Movemenls in funds are disclosed in note 11 and comparatNe figures are shown in notes 17-19.
The charity has no restricted funds or recc¥Jnise(I gains and bsses other than Ihose shown above.
Music Minds Matler 16

Balance sheet 31 December 2024
31
December
2024
31
December
2023
Note
Current assets
Debtors due within one year
Cash al bank and in hand
70
147
59
Liabilities
Creditors falling due within one year
1133)
(1,303)
Net current assetsllliabilitiesl
14
(1,244J
Totsl assets less Current liabilitles
14
(1,244)
Funds
un￿Stricted funds
Restricted funds
14
(1.244)
Total charity funds
14
{1,2441
rov
the Iruslees and signed on their behaw by".
Tru
lee
pproved by the Iruslees on".
MUS￿ Minds Maiter 17

Principal accounting policies Year ended 31 December 2024
The Pri￿1paI ￿countIng Fdicies adopted, judgements and key sources of estimation uncertainly in the
preparation of the accounts are laxj oul beknv..
Basis of preparation
These accounts have been prepared for the year ended 31 DtteM￿r 2024 wf(h comparalwe figures for
the period from 26 July 2022 to 31 December 2023.
The financial statements have been prepared under the historic81 cost convention with rtems ￿Cognised
al cost or transaction value unless othe￿ise ststed in the relevant acc(NJnling policies below or the notes
to these financial slalemenls.
The financial statement5 have been prepared in accordance with Accounting and Reporting by Charities..
Statement of Recommended praCt￿e applicable lo charrties preparing their financial slalements in
accordance with the Financial Reporting Standard applicable in the Unrted Kingdom and Republic of
Ireland IFRS 102} Icharities SORP FRS 102). the Financial ReportiThJ Standard applicable in the UK and
Republic of Ireland IFRS 102) and the Charities Act 2011.
The charity conslrtutes a publ￿ benefft entity as defined by FRS 102.
The accounts do not indude a slatement of cashflows because the charty. as a wholly controlled
subsidiary is exempt from the requirement to p￿pare such a stalemenl.
The financial statements are presented in slerting and are rtxJn(led lo the nea￿$1 pound.
Assessment of golng concem
The trustees have assessed whelherthe use ofthe going concern assumptk)n is appropriate in preparing
these acwunls. The Iruslees have made this assessment in respect lo a period ofone year from the dale
of approval of these a¢¢ounls.
The trustees of the Charity have concluded that there are no materk41 uncertainties related lo events of
condrtions that may cast significant doubt on the abilty of the charity lo ¢ontinue as a going concern. The
Iruslees a￿ of the opinion that the charity will have Suff￿lent resources lo meet f(s liabilities as they fall
due.
The trustees have receNed written confimation fr(xn Ihe tnjstees of its parent charty, Musicians
Benevolent Fund, that Musicians Benevolent Fund will continue lo supry)rt the charity financially and
enable il lo pay it's debts as they fall due for a per￿ of at least one yeai from the date on which these
accounls were approved.
In the view of the Trustees, no assumptions conceming the future or estimation uncertainty affecting
assets or liabilities as the balan￿ sheet dale are likety lo result in a material ￿l￿stment lo their Carrying
amounls In the next financial year.
Income recognition
Income is recognised in Ihe pericMI in wh￿h Ihe charity has entit￿ment lo the income, the amount of
income can be measurwj ￿liabfy and it is Pfobable Ihal the income w¢ll be recewed.
MUS￿ Minds Matler 18

Principal accounting policies Year ended 31 De¢eTnber 2024
The principal source of income is grants frcmn the parent chaiity.
Grants
Grants are recognised when Ihe grant proce&Js ale recewed (or receivable) provkled that the lemis of
the grant do not impose futu￿ perfomiance-related coThJiiions
Donations
Donation income is recognised once the charity has entitlement to the funds, rt is pr¢Jbable that income
will be received and the amount Can be measured reliably.
Expenditure ￿Ognition
Expendrture is included In the stalemenl of financkgl ￿tIvItieS when incurred and includes allributsble
VAT which cannot be recovered. Expendrture comprises the folk)wing.'
8. Expenditure on raising fvnds relates mainty lo digrtal advertising costs.
b. Expenditure on charrtabje aclivtties in deliverance of the objectives sel out in the Trustees, Teport
ielate mainty to wellbeing services, educalK>nal & project yranls and raising awareness.
c. Support costs ￿late to the g0Veman￿ and adminislralion xtivitie5 involved in managing the
organisalion. Governance and suppcKt costs have been appOrt￿ne￿ be￿een all activities based on
staff head count
Debtors
Debtors are recognised at their settlement amount. less any provis￿ for non-recoverability. They have
been discounted to the present value of the future cash payment where such discounting is material.
Prepayments are valued al the amount prepaid.
Cash at hand and in bank
Cash al bank and cash in h8rNJ includes cash and opening of the deposrt account.
Creditors and provisions
Creditors and provisions are recognised when there is an obligation at the balance sheet dale as a result
of a pasl event, il is probable that a transfer of economic benefit will be required in settlement. and the
amount of the settlement can be estimated reliably. Creditors and provisions are recognised al the amount
the charity anticipates rt will pay to settle the debt. They have been discounted to the presenl value of the
future cash payment where such discounting is material.
Fund structure
Unrestricted funds comprise those monies which may be used towards meeting the charrtable objectives
of the charity and wh￿h may be applied at the discretion of the Iruslees.
Music Minds Matler 19

Notes to the accounts Year ended 31 December 2024
Analysis of Income
31 December
2024
unreStr￿ted
roc
ReSt￿ted
£'o
Grants from pa￿nt charity
Grants from fundraising activity
2.081
2,081
280
Totsl income
2,361
2.361
2023 Analysis of Income {comparatlvel
Period from
26 July 2022
Restricted to 31 Dec 2023
£'ooo
Unrestricted
rooo
Grants from fundraising aclivty
Total income
Charitable activities
Actwrties
undertaken
directty
Support cos15
31 Oecember
2024
£'ooo
Wellbeing seNices
Educational and project grants
Raising awareness
Totsl
839
218
1,057
14
68
233
1,131
The charrty ha5 given 1 grant lotslling £4,000 lo indNiduaL8 in the year12023'. 5 grants tolalling £20,0001.
Music Minds Matter 20

Notes to the accounts Year ended 31 December 2024
2023 Anatysis of charitable activitie5 Icomparativel
Aclivit
und&taken
directty
Period from
26 July 2022
to 31 Dec
2023
SupFOrt costs
£wo
Wellbeing services
Educational and project grants
Raising awareness
Total
1.517
23
120
1.636
25
71
127
1,733
Support costs
Raising
funds
Wellbeing
servi
Ed￿ational
& project
grants
£'ooo
31
December
2024
£'ooo
Raising
awareness
£'ooo
£'ooo
£'ooo
Governance Inole 41
ManagenEnt charge
Total
13
205
217
14
225
239
13
14
All support costs have been split between ￿tIvit￿$ using a cost apportDnment method.
2023 Analy$is of support costs (comparative)
Period
from
26 July
2022 to
31 De¢
2023
£'ooo
Rai8ing
funds
Wellbeing
servi
E￿￿tional
& project
grants
Raising
awareness
£'ooo
£000
£'ooo
£'ooo
Governance Inole 4}
Management charge
Total
113
120
120
127
MUS￿ Minds Matter 21

Notes to the a¢¢ounts Year ended 31 December 2024
Governance costs
Period from
26 July 2022
to 31 Dec
2023
31 December
2024
Audrt fee
Legal fees
Other Professional Fees
14
Taxation
Music Minds Matter i8 a registered cha(ity and. Iherefc*e. is not Ikgble to i￿ome tsx Of corporation tax on
income derNed from rts charilable activrties. a5 rt fa115 Wrthin the various exemptions available lo registered
charities.
Debtors
31
December
2024
rooo
Pefi¢xI from 26
July 2022 10
31 Dec 2023
£'ooo
Trade deblors
Prepayments and accrued income
24
59
59
7 Creditots.. amounts falling due within one year
Period from
26 July 2022
10 31 Dec
2023
£'ooo
31
December
2024
£'ooo
Tiade Credrfcors
Amounts dLte to parent charity
Other taxes & social securrty
A¢¢ruals and deferred in¢ome
70
74
1,179
59
50
133
1,303
MUS￿ Minds Malter 22

Notes to the accounts Year ended 31 December 2024
8 Analysis of net assets be￿wn funds
Unre5ththd
fvnds
Restricted
furKJ5
Totsl
2024
Fund balances at 31 December 2024
ar• represeFrted by..
Cufrent assets
147
147
Creditots.. amolmts frallirvJ due wrthin Dr￿ year
{1331
11331
Total net assets
14
14
unre5ttlct￿1
lund5
Reslricled
funds
Total
2023
Fund balances at 31 December 2023
arè r•pr8s8nted by=
cur￿￿1 as5et5
69
Creditots. anounts falling due wrthin one year
11.3031
{1,3031
Total net assets
11.2441
11.2441
9 Transactions with related parties
The charity Is a wholly controlled subsidiary of Musicians Benevolent Fund (operating name". Help
Musicians). a company limited by guarantee reg￿tered in England and a registered charity No. 228D89 and
SC0496251. The parent charity's registered Offi￿ is 7-11 Br[tann￿ Street London WC1X 9JS. Copies of the
consolidated accounts of Musicrans Benevolent Fund are availab￿ from Companies House.
Transactions between the Music Minds Matter and its parent Charity during the year were as follows..
Period
from 26
July 2022
to 31 Dec
2023
£'ooo
31
December
2024
£'ooo
Grants awarded
2.361
Recharges from pa￿nI
¢harty".
1341)
12601
Musi¢ Minds Matter 23

Notes lo the accounts Year ended 31 December 2024
Period
from 26
July 2022
to 31 De¢
2023
£'oth)
31
tlecember
2024
£'ooo
Salary costs
recharge
Support costs
recharge
116
22$
341
120
260
The key management personnel of the charty were remunerateJ via the parent charrty the Musicrans
Benevolent Fund. None of the Trustees received remuneration during the yeai12023.' none).
The￿ were no other ￿lated party trans8¢t￿n$ during the period.
10 Liability of members
The charity is consliluled as a charitable incorporated organisalion. In the evenl of the charity being wound up
member has no liability lo COntr￿Ule lo rts assets and no personal responsibility foi settling ils debts and
Music Minds Matter 24