THE MICHAEL TIPPE￿ MUSI
L FOUNDATI
R Istered Chari
Num
2784
TR
EE
ANN
AL REPORT AND ANNUAL ACCOUNTS
FOR THE YEAR
AUGU
23

NF
Oliver ScKkn lfvir)
Katte Tearle MBE (Deputy Chair)
sarah Bardwell
)nathan Dove CBE
Nanry Evans
Sally Grove5 MBE
remy Hayes
Chris *￿Ie
Simon Weil
Anttw)ny whitworth.jo
Dav*Y Calms CBE
Paul Cms*y CBE
Sir Arnlrew Davis CBE
Eth¥ard Gard￿r OBE
Administrator:
Dr Lw Walker
Address:
clo Charles Russell S￿lYs
Fafflngdon
Lonthjn EC4M 7RD
Website:
wtrvw.tippetttsJndath)n.org.uk
Email address:
Imin@tiPk*ttfourKlalTh.org.uk
278469
Registered Charity Number:
P•Je I
Ch3nty Inforynatk
Page 2 and 3
Trust*s Annual Repcxt
Page 4
lThJyndent EXamin￿S ReFQrt
Annual Pm)unts
P¥s5and6
Page I

Ml
pp
DED
ANC
The charity was set up as a Trust in 1979 is ￿ ty a Trust Deed 27th July 1979.
The Trust was registered as a charity on 12th Septemter 1979. The tharity is matN3ged by its
trustee5, assisted try the administrat￿, and the trustees med regulady at least On￿ a year.
The trust￿ have the rA)Yffi utxler the Trust Deed to appjint further trustees if at any time their
number falls bebw four. A list of the trust&s and ottw Officia￿ ot the tharity at date of approval is
set out on page I whth f￿n5 part of this iewrt. There were no changes in the year.
EME
AND
The charitls obiKti'ves a￿ to advan￿ ed￿ati￿ in the art music and ccMntJ)srf(ion of musTr1 worts
and to relEve MUs￿a￿S and ccfftpjsers who are in need, hardship C￿ distress. The charity does this by
makiTrJ grants aTrJ awards to organisats.cffj which U￿rtake Projects which meet the criteria set out
L￿low. In 2022 the TnJ5tee5 broadera tr￿ SCO￿ of grants to Ind￿ ￿ prorrth'on, perfomiarte
and St￿tr M￿h￿l fiprEtt'S rnus￿.
The tnjstees, mindful of the limited fut￿ availabk, have deoded to fcas on one area of musical
activity as their singk priority. From 2023 the charitvs actNrty will focus exclusNety on the funding of
rerfomiances arKI rLrorditvJ of mugc by Sir Mthael rip￿ with the aim of generating greater revenue
for a WKJer range of acbvths in future years aThJ ￿ e￿rag1ThJ the mLL%iC d the future.
The trustee5 tonsider applKation5 for ixth first-bme initiatives as wdl as the deveb)pment of existing
proi*s. The trust￿ have a of which all applKants are made aware, that the charity makes
one-off grant5 onty. Grants are only awardsj to proiects based in the UK.
The Iyu5tees refer to the Charrty CownmIs￿n'S gUIda￿e ￿ public when re4Ewing the charitys
aims, objectNes and ￿tmIles, vthen planning future artivities w￿n 5ettirrtJ the chartys grant
makiTrJ FoIKies.
CfivrfiES AND ACHIEVEME
Sir MKhael fipF*tt d*d on 8th January 1998. Under an agreement I￿￿¥een the charity,
fourKlerfs estate his wblisws, the charity retrNes a share d the founderf5 roYa￿leS which will
continue for the full copyright rEricxJ. TFw royaths are strwn as a legacy in the accounts and are
included in accounts when r￿￿J.
Such roya[t￿5 vary from year to yeai aF￿ are received in arrears. Tr mafrwity of the charty's income
i5 applted to grants and awards made. Tr tnrtees, in determining the number and amount of grants
and awards made, remain mindfttl the variability in royaty I￿(￿ne year to year. Mindful of the
redurtion in royalty income from March 2020 due to the COVKI 19 Fh)ndemic, the Trustees decided in
2022 not to offer any grants in 2022123 whilst rniew￿ the matter and conS￿er ￿ strateg
study of the chanty's grant makn"ThJ Fdicy. HavirKJ the (tkarty resurn&J offering grants from
NovemLEr 2023.
Page 2

41
Stratej￿ • of ts (haritys grant ma￿1¥) was commissior*d in 2022 at a cost of
£3 000. The trustees also cornrnissM)ned In 2022 a re￿11￿ of dprivs webg'te by Dr Walker
the cost of wttsch was £2,(IxI Wit equalty 2022 2023. Press and Media conwltants
We￿ eryaged to assst with press ￿leaSe5 etc on ￿ laurKh of new webyte on
1st Septemter 2022 èt whith tkni15 01 ￿ new a￿1 Ott￿r changes were urNaled.
conwltsnts fee was £600 ag3in split eqvaly ￿￿en 2022 aThJ 2023.
The chanty has fKed crmgderable dffioJn¥es in the year its bankers Nats'onal Westminster
Bank {NWBI. As a result the tharitys bank accoLmts were for a in late 2022 and
then more seriotsty, in ]u￿.cKt0tr￿T 2023 arKI fv clwrity fatrd ts threat of the closure of
bank accounts. The trustees and administrator have 5￿t C￿5}derat￿e b.me a￿1 effort to rex)Ive
issues and In wovidirvj NWB wth vari¢xts (ktumwtstion tw ￿lEsted. The stuation
was fully resow in Novemlv 2023 ￿ink ￿a)unt5 are r¥)w active and fully acCessi￿e
line. Hov￿r these is5￿ re9JtsJ in tt* tharity ￿"r9 unatAe to make or retyve payments for
rn￿h of the year. The arTr)unts unpaid at 31st August 2023 are ￿￿ted urthr tiabilitre5 on page 6
and a￿ cortsMlerats4y hig￿ than earlier yeArs as ch3rity CCrtJkJ Th)t make payments in a timely
manner as is its rNymalty prartI￿. AJI the liabilrties Tr)ted on page 6 have r￿ twi pakj, except for
the 2021 award ￿ wh￿h ￿ trL6tees await darificab.on rf t￿"$ IS to ts daimet1.
B has made paYn￿ts of £250 in ￿emt￿l 2022 arx1 a fvrther £240 in Septemtw 2023 whith
pa￿allY r￿nISe arKI cOm￿nSate for dIfficU￿e5 the ctsrity has experien￿.
I the trustees give fre* of ￿r b.me arn1 m tnts ex[s￿ were ￿3#y in ts year.
ReseThes are needed to bridge ￿ gap tefften ￿ SFeThJing a￿ re￿￿r￿4 of res¢yJce5. It is
the ￿lFLY of the charity to maintsin unrestn.cted fthts, whKh are its reservés. at a level
whith ewate5 to at least tV￿￿e ￿K}nthS exF*Thliture i￿￿jir￿j grants arKI awards. Unrestrirtal
fvnd5 were maintained at tlis l&tl in the year.
This report was apprty￿1 lry the trustees on 19th DKember 2023 and
sl9ned on their behalf
Oliver Soden ITrustee)
Pa9• 3

DEPENDENT
MIN
RE
HAE
I report to the tru5tee5 on my examinati(￿ of the a(£ounts of the alx)ve tharity (the Trust)
for the year endga 31st August 2023.
IBI
AND
FRE
As the (harity trustees of Trust you are reswr6ible fi)r the prepaTation of the accounts in
accordants wrth the requirements Lrf the (harities P£t 2011 (*he ACV).
I report in resp&t of my exafflinab"(￿ of the Trust's accounts carried iyjt ullder seth.on 145
of the 2011 Art in caryirrfj out my examination l have followeil all the applicable
Directions grven by the Charity Commisson U￿er section 145(5) (b) of the ALt.
IND
ENDE
I have Completed my examinatsjn. I confimi that no material matters have come to my
attention in conneth.on with the examination giviNJ me cause to believe that in any material
l. Acccwjnting records were keN in respert of the Trust as required by sthon 130 of
the Act; or
2. The acC￿ts do not ￿rd with th)se record&
I have no conce￿￿ and have CO￿ acTOS5 rK) other matters in connection with the examination
to which attents.on sho￿￿ be drawn in this re￿rt in order to enable a proper understanding of
the Kcounts to be reathed.
Sadrudin N Samji
artered Accountant
THURsfoN WA￿5 & COMPANY
39-41 North Road
London N7 9DP
20th December 2023
Page 4

MI
AEL
PErr
ED 31sr AU
El
YME
ACC
Fu
Legary. Sha￿ of fiiytt Estste royaltie5
Intew on Bank ￿COUnts
DividetkI5 on investment
39,108
25,895
53
838
830
425
Compensation ex Nati￿al Westminster Bank
250
£40,613
£26,786
AYME
Grants and awards made - 202312022
Grants and awarts made - 2021
19,000
1,000
Legal fees retainer
2,400
Adminisiratorfs fees arxl exEEnses
3,750
3,059
ountancy and IndeFerKlent exami￿5 fees
954
Consultarq fee5 re Strat￿lC Deveknt￿nt SupFx)rt
WebsFte rebuikj
Press arml mÈMlia conwhancy charty k
300
Bank charges
TALP
YME
£5,650
£31,361
N￿RE
EI
FOR THE Y
34,%3
-4,575
CASH FUNDS at 31st August 2022
39,702
44,277
L￿NDs at 31st August 2023
£74,665
£39,702
TE
THEA
NTS
The charity has faced Considerab￿ drfr￿U1tIes in the year with its bankers National Westminster
Bank INWB). As a ￿$￿It the charity's bank accounts were frozen for part of the year and the
charity was unable to rnake or receNe payments. Tr tn6t￿ arKI administrator sFent a lot of
"me and effort to resdve tF*se arnj the situatkM was fully resolved in Novemtser 2023
when the bank accounts tr*came act.ve fulty The aEove figures refknt these
issues. The amounts owing tolby charty at 315t August 2023 are ouUirBI on Page 6.
Page 5

Ic
ME
Cash at bank (InCl￿Tr3 COIF) in hand
74,655
39,702
Investment- COIF Owrities InVeStm￿t Fund (at costl
Mi&market value at 31.08.2023 £29.28412022 £29,843)
20,0
20.¢
E94,655
£59.702
DI￿dendS on Inv&M￿t
£419
£0
LIABI
Grants and Awards made12021)
Admini5tratorg Fees Exw
Acwntsnts fees (2022)
4,393
1.074
3,124
6(K)
£8.267
É4.724
ACCO
The accounts have krepar8J folloMr¥J the ￿ldarKe for ￿C￿nts[wj for ynaller Char￿"eS
i55u8J ty the Charty Commisson. The Receipts ar¥J Payments rfcount is a summary the
ipts and payments try the chanty durirvj the year. ArTh)unts a￿ i{￿Ud￿j a5
recavaj or as pakl.
5tatemert of ass6ts aThJ liakn.11b￿ indLts to ￿ tharity al￿ amounts
owiThJ ty the chanty for income or exrffl￿ rdab.ng ro the year or m"ou5 years which had
Th)t bw) paMI at 31st August 2023 ar*J, in the Ca￿ of exp￿seS, for which invoice5 have t￿en
re￿￿ved. atK)ve rdlert thfficult￿s the charity h&J Mth ts tonkers in the year as
ouvined on Page 5. the ats)ve liatJ"libes, except the 2021 award, have pald.
The accounts were approved by the trnstees on 19th December 2023
and 5i9ned on their behalf
Ollver S(xlen (Trustee)
Page 6