MUSICIANS BENEVOLENT FUND

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Buzzacott LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and charitable parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”

Group structure

1. MUSICIANS BENEVOLENT FUND · parent
   1. Music Minds Matter · England and Wales
   2. Scottish Musicians Benevolent Fund · Scotland
   3. MBF Trading Limited 100% · England

Significant events

• “In 2024, we delivered 458 grants, totaling £1.0m, to support musicians' career development. While this marks an 18.5% decrease compared to 583 grants in 2023, our updated eligibility criteria ensured that our support reached those facing the most significant barriers and challenges.”
• “In 2024 we increased the involvement of musicians in the design of our services, tailoring them to better meet musicians' needs and focusing more on the barriers faced by particular parts of the music community.”
• “In 2024, we received 638 pieces of media coverage with key moments including the launch of a new Electronic Music Award.”
• “We launched our first-ever Electronic Award, working alongside DJ Mag, increasing our reach within this genre of creators. This initiative supported 25 musicians through a nine-month accelerator program designed to set them up for long-term success.”
• “In 2024, attendance of our online self-care sessions increased over 300%, with 602 participants receiving tailored wellbeing advice, compared with 150 individuals in 2023.”
• “In 2024, Music Minds Matter achieved a total income of £0.4m, driven by the generosity of a dynamic, engaged community of organisations and individuals.”
• “As a pivotal part of our engagement strategy, in 2024 we launched Music Minds Matter Allies, a forward-thinking initiative focused on building direct, meaningful connections with individuals through organisations across the music industry.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

4

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

2

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -19%

  £63,000 → £51,000

• Cash

  +2%

  £1,712,000 → £1,747,000

• Net assets

  -0.2%

  £49,140,000 → £49,046,000

• Employees

  -2.8%

  72 → 70

• Operating profit

  +37.5%

  -£4,756,000 → -£2,972,000

• Profit before tax

  +37.5%

  -£4,756,000 → -£2,972,000

• Wages

  +5.9%

  £3,100,000 → £3,282,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers