THE MICHAEL TIPPETf MUSICAL FOUNDATION
TR
EE
ANN
AL REP
NN
ALA
AR ENDED 31sr AUGU￿ 2024

THE MICHAEL TIPPETf MU
AL FOUNDATION
HARITY INF
Oliver Scden (Chair)
Katie Teatle MBE (Deputy Chair)
Sarah Bardwell
Jonathan Dove CBE
Nancy Evans
Sally Groves MBE
Jeremy Hayes
Chrls Scobie
Simon Weil
Anthony Whi(worth-Jones
Patrons:
David Cairns CBE
Paul Crossley CBE
Edward Gardner OBE
Administrator.
Sarah Noble
clo Charles Russell Speechtys
5 Fleet Pla
Farringdon
London EC4M 7RD
Website:
www.tipFEttFoundation.org.uk
Email address:
admin@tippettfoundation.org.uk
Registered Charity Number:
278469
CONTENTS
Page I
Charity Information
Page 2 and 3
Trust￿ Annual Report
Page 4
Ir￿e[endent Examiners Report
Pages 5 and 6
Annual Accounts
Page I

THE MICHAEL TIPPETf MUSICAL FOUNDATION
ANNUAL REPORT OF THE TRusfEES
FOR THE YEAR ENDED 31sr AUGusf 2024
srRUCTURE GOVERNANCE AND MANAGEMENT
The charity was set up as a Trust in 1979 and is governed by a Tnjst Deed dated 27th July 1979.
The Trust was registered as a charity on 12th SepteM1￿r 1979. The charity is managed by its
trustees, a55lSted by the administrator, and the trustees meet regularly and at least On￿ a year.
The trustees have the wwer under the Trust Deed to appoint further trustees if at any time their
number falls below four. A list of the trustees and other officials of the charity at date of approval is
set out on page I which form5 part of this report. There were no changes in trustees in the year.
Dr Lucy Walker stood down as Administrator on 1st June 2024 and was ￿p1a￿d by Sarah Nobk.
In addition Sir Andrew Davis CBE a Patmn of the thar(ty sadly dled on 20 April 2024.
OBJECTIVE
AND AcfIviTIE
The charity's objectives are to advance education in the art of music and composition of musical
works and to relieve musicians and composers who are in need, hardship or distress. The charity
does this by making grants and awards to organisations which undertake projects which m&t the
criteria set out below. In 2022 the Tru5tee5 broadened the scope of grants to include the
promotion, performance and study of Mkhael T*ppett's music.
The trustees, mindful of the limited funds available, have decided to focus on one area of muskal
attivity as their single priority. From 2023 the charity's activity will focus exclusively on the funding
of performan￿ and recording of music by Sir Michael Tippett, with the aim of generating greater
Revenue for a wider range of activities in futu￿ years and so encouraging the music of the future.
The trustees continue to keep thts, Ilke all of its rKJlicies, under regular review.
The trustees consider applications for both flrst-time initiatives as well as the development of
existing projects. The trustees have a wlicy, of which all applicants are made awa￿, that the
charity makes one-off grants only.
The trjstees refer to the Charty Commission's guidan￿ on public benefit when reviewing the
charity's aims, obj￿1Ve5 and aCtiv￿e5, when planning future activities and when setting the
charlty's grant making polic￿$.
ANDA
HIEVEMEN
Sir Michael Tippett died on 8th January 1998. UrKler an agreement made tetween the charity, the
founder's estate and his publishers, the charity receives a share of the founder's royalties which will
continue for the full copyrtght period. These royalties are shown as a legacy in the accounts ar
are induded in the accounts when received.
Such royalties vary from year to year and are received in arrears. Following an appeal the charity
celved donations totslling £40,0(XJ in the year which, like the majority of the charity's income, is
applied to grants and awards made. The trustees, in determining the number and amount thereof,
remain mindful of the variability in royalty irtcome from year to year. Conscious of the redLtction in
royalty incixne from March 2020 due to the Covid 19 pandemic, the Trustees decided to suspend
making grants and awards in 2023 whilst they reviewed the matter and considered the strategic
study of the charsvs grant making policy Commission￿ in 2022. Having done so the charity
resumed making grants and awards from Novemtsr 2023. The charity made grants and awards
in 2024 totslling £69,250 of which £7,750 were unpaid at 31st August 2024.
Page 2

MI
HAEL TIPPErr MU
ENDED
AUGU￿ 2024
AcfivTfIE
EVEMENTS
Con
The charity faced o)nsiderable difficulties in 2023 with its bankers National Westminster Bank
(NWB). k a result the tharity's bank accounts were frozen for part of the year. Tr charity
was unable to receive monies rK)r could it make payments in a timely manrEr, as is its normal
Practi￿ and r( faced the threat of the dosure of its bank accounts. The trustees and the
administrator Spent a lot of ￿me and effort to resolve these issues arKI in prowdirYJ NWB with
the various documentstion they reque51ed. Tr Situation was fully rE9)Ived in November 2023
and the bank accounts are now artive and fully accessible online.
DL* to the atove issue the 2024 payments are therefore highw than usual as they 1K1￿Je
2023 eX￿nSeS totalling £7.267 which could not be paid at 31st August 2023 a5 detailed on
page 6 under Liabilities but excluding the 2021 award £1,000 whith is no longer required. In
particular the Administrator'5 fees and expenses are up by £6,244 on 2023 as they refieLt the
additional work dor￿ in resolmng the NWB is5￿ and 2023 fees of £4,393 paid late as a resu￿.
NWB made compensation payments of £250 in 2023 and £240 in 2024 which only recogni
and compensate for a fraction of the diffi(thes the olaTity has exwieKed and extra exFe¥
it has incurred as a resu￿ of this issue.
I the tnjstees give fr￿lY of their time and no trl￿ee eX[en￿ were paid in the year.
Ll
ReseTves are n*ded to bridge the gap bets￿n the spending arKI receiving of re9)Ur￿S. It is
the policy of the charity to maintsin unrestricted funds. which are its general re￿rVes, at a level
whid) equates to at least I￿e1ve nK)nths expenditure induding grants and awards. Unrestricted
nds were maintained at thls level In the year.
Thls report was approved by the trustees on 26th November 2024 and
slgned on their behaw
Ollver Soden (TNstee}
Pago 3

XNDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF TrIE MICHAEL TIPPErr MUSICAL FOUNDATION
I report to the trustees on my examination of the accounts of the above charity (the Trust)
for the year ended 31st August 2024.
RESPONSIBILrrIES AND BASIS OF REPORT
s the charty trust￿5 of the Trust you are responsible for the p￿paration of the accounts in
accordance with the requirements of the Charities Act 2011 ('the Act,).
I report in res&*rt of my examination of the Trust's accounts carried out under section 145
of the 2011 Act and ir¢ carrying out my examination I have fo51owed all the aPpI￿able
Directions given by the Charty Commission under wtion 145(5) (bl of the Act.
INDEPENDENT EXAMI
ER,
have completed my examination, I confirm that no material matters have come to my
attention in cOnn￿tIon witr¢ the examlnation giving me cause to believe that in any material
l. A￿UntIng records We￿ not kept in respect of the Trust as required by section 130 of
the Act,. or
2. The accounts do not accord with those records.
I have no concerns and have come across no other matters in connection with the examination
to whlch attention should be drawn in this report in order to enable a proper understaThling of
the aca)unts to be reached.
&idrudin N Samji
Chartered Accoun
THURSTON WATfs & COMPANY
39-41 North Road
London N7 9DP
27th November 2024
Page 4

THE MI
HAEL TIPPETf MU
UN
ATIO
TH
EAR ENDED
AUGusf 2024
EI
AND PAYMENTS ACCOUNT
Un-Rest-
ricted
Funds
Un-Rest-
Restrlcted rlcted
2024
Legacy - Share of Tippett Estste royalties
35,346
35,346
39,108
Donations
35,0(K)
5,000
40,000
Interest on Bank accounts
Dividends on investment
1,691
1.271
1,691
1,271
830
425
Compensation ex National Westminster Bank
.240
240
250
£35,0¢
£43.548
£78,548
£40,613
PAYME
Grants and awards made
35,000
26,500
61,5
LeJal fees retainer
3,000
600
Admlnlstrator's fees and expenses
9,367
9,367
3,750
Accountsncy and IndeFendent examIne￿S f&s
2,304
2.304
Websbte costs including rebuild in 2023
627
627
1,000
Press and media consultsncy and charity logo
300
Trustees. travel expenses
247
247
Bank charges
£35,000
£42,045
E77,045
£5,650
EfRE
PAYM
1,503
1,503
34,963
at 31st August 2023
74,665
74,665
39,702
ND
at 31st August 2024
£0
£76,168
£76,168
£74,665
NOTE TO THE ACCOUNTS
The charity faced considerable difficulties in 2023 with its bankers National Westminster Bank
{NWB). As a result the charity's bank accounts were frozen for part of the year and the
charity wa5 unable to make or receive payments. The trustees and administrator spent a lot of
time and effort to re501ve these issues and the situation was fully resolved in November 2Q23.
The ab)ve figures refiect these issue5 and the 2024 figures include amounts owirvJ tolby the
charity at 31st August 2023 totalllng £7,267 which are detailed on Page 6.
Page 5

R THE YEAR ENDED 31sr AUGU￿ 2024
Efs AND
Unrestricted Funds
2024
Cash at bank {Indudlng COIF) and In hand
76,168
74,655
Investment- COIF charf￿es Investment Fund (at cost}
Mld-market value at 31,08.2024 £31,616 (2023 £29,284)
20.OC(I
20,000
£96,168
£94,655
Dividends on Investment
£0
£419
Grants and Awards made the year
Grants and Awards made 2021 (no longer requ1￿1}
Administrators, Fees and Exp￿
Accountants (2022)
Legal retsiner
7,750
1,000
4,393
1,074
1,8rKI
442
1,200
£9,392
£8,267
The accounts have b￿n prepared followlng the gUIdan￿ for accounting for Smaller charities
I￿￿ed by the (harfty Commi590n. The Recept5 and Payments account Is a summary of the
eipts and paYM￿ts made by the tharity durin9 the year. Amounts are induded as
eiv&l or as pald.
The statement of assets and liabiliues includes monles due to the charlty and also amounts
O￿ng by the charfty for Income or expenses relating to the year or prevlous years whlch had
not been pald at 31st August 2024 and, In the ca* of exp￿Se5, for which invoices have
be￿ received. The aty)ve refiect the dIfficul￿eS the charlty had wlth Its bankers In 2023 as
outllned on Page 5.
The accounts were approved by the trustees on 26th November 2024
and signed on their behalf
Oliver Soden (Trnstee)
Page 6