COMPANY REGISTRATION NUMBER.. 09580141 CHARITY REGISTRATION NUMBER: 1164114 Drake Calleja Trust Company Limited by Guarantee Unaudited Financial Statements 31 May 2024 LEAPMAN WEISS Chartered Accountants Building 6, 30 Friern Park London United Kingdom N12 9DA
Drake Calleja Trust Company Limlted by Guarantee Flnancial Statements Year ended 31 May 2024 Page Trustees, annual report (incorporating the directorfs report) Independent examineffs report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes lo the financial statements 10 11 12
Drake Calleja Trust Company Llmlted by Guarantee Trustees. Annual Report (Incorporating the Dlrectorfs Report) Year ended 31 May 2024 The trustees, who are also the directors for the purposes of company law, present their rewrt and the unaudited financial statements of the charity for the year endgj 31 May 2024. Referenc• and administrative detalls Reglstered Charity name Drake Calleja Twsl Charlty reglstration number 1164114 Company rggistration number 09580141 Prlnclpal office Suite One. Third Floor Sovereign House London N31QB United Kingdom Reglstergd office Building 6. 30 Friern Park London N12 9DA United Kingdwi The trustees Mr J J-P Drake Mr B Evans Lord Moynihan Independent oxarniner Mr Henry J Leapman FCA Structure, govemance and rnanagemgnt The charity is constituted as a company limited by guarantee. tts governing document is ils memorandum and articles of associalion. New trustees are recruited based on their knowledge and expertise and are nominated for appointment by the 8greemenl of the eXtsng Iruslees. Objectlves and activities The aims of the Trust are-. To provide scholarships for those with exceptional musical talent. particularly those from socially or economically disadvantaged backgrounds studying in higher education across the UK. To provKle performance opwrtunilies and supwt througlM)ul the year for scholarship holders. The Trust's activities provide educational and performance opwtunities to exceptional musicians studying in the UK. These activities are planned according to Ihe strengths. needs and artistic aspirations of the Trusys scholars and aim to have a meaningful impact on Ihe classical music scene and the wider musical and cultural scene. To delNef a varied and highquality programme of performance and leamin9 activities. the Trust aims to ¢dIabal@ with other organisations within music and the arts.
Drake Calleja Trust Company Limiled by Guarantee Trustees, Annual Report (Incorporatlng the Dlrectorfs Report) IntInUeI Year ended 31 May 2024 Achlevements and perforrnan¢e We opened our applications on-line from January-march 2023. We worked with our selection and shortlisling process from our on-line applications and made invitations lo live audilK)nS to around 100 musicians. We held live audits.ons in London. Manchester and Glasg(Ml in May 2023. We also held on-line auditions for those unable to attend in person. We made 23 awards lo musicians across the country. 21 Senr Scholarships and 2 Junior Scholarships, lo help wilh their studies for the academic year 2023-24. Our scholar selectiofi was based on and artistic potent1. musical achievement, and financial need. There are no restrictions on whal students can use their award for. and our scholarships have sjndoubledly helped these young musickqns_ The cost of courses at ConseNatoires and Cc4leges continues to rise and students are finding il ever harder to support their sludies. especially for those coming from overseas. We aiffl to be as aeSSIble as possible, allowing entries from all nalionalitses as long as Ihey are studying in the UK. Activitles and Events 2023-24 During the autumn we presented our scholars in nCert at our usual venue. The Corinlhia Hotel on Saturday 4th NoVemr. This is one of the highlights of our year, and gives our scholar5 an invaluable opportunity to perforni INe. The concert was hugely successful and appreciated by audience and performers alike. As with all our public performances, we had the o)ncerts filmed, giving the Scholars valu8ble recordings of themselves performing live, which they can use for their own promotional material. The concerts are all available to view on our YouTube Channel. We also had a photographer present, taking headshots of the scholars and rehearsal photos. As well as being made available for the scholars use. the Trust uses these for promotional material. Continuing our previous collaboration. the Trust teamed up with Help Musicians in January 2024, giving talks and advice about funding and funding applications_ Tojether we gave presentstions lo all the music colleges in the UK, offering general advice about to prepare and submit sijccessful funding applications. prepare budgets. and tips on auditioning. This is not only useful to young musicons bul also raises awareness of the Tnjsl. This year we presented one on-line talk to 811 the colleges except for the Royal Academy of Music. wh) scheduled an individual presentation. The RAM talk was well allended advertised intemally. Our other talk had a disappointing attendance. and we will be reviewing how best lo present these in the future. This year we adjusted our application openw)g window. to fft in the other major funders. Help Musicians and The Countess of Munster Trust. We opened on January 8th 2024 for six weeks, closing on 12th February. We made the decisKJn lo slop offering Junior Scholarships from 2024, and focus solely on our Seniors Scholars. While we have undoubtedly helped some exlraordinary younger musicians. we felt that w& were spreading our resources Icx) thinly. On the 9th Marth 2024 we presented our spnng eoncert in a new venue.. the stunning surroundings of Leighlon House. As always. our scholars provKled an interestg. mixed and varied programme and perfomied lo a packed hall.
Drake Calleja Trust Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Dlrectorfs Report) (¢ontlnu8dJ Year ended 31 May 2024 A¢hlevem•nts and performance {COllllnu•d) We offered one-to-one mentoring again lo all our SenM)r Scholars. This gave all tho musicians we support a unique opp¢)rtunily lo explore and discuss their artistic devekjpmenl and career progression. These individual sessions have proved to be very hdpful and is somelhtng that they are not offergd elsewhere during their studies. Having received our applicati¢)ns on-llne, our assessing panel completed the selection process. creating a shortlisl of musicians lo invite to perfom Iwe al audition. In May 2024. we held 4 days of live auditions in London and two days in Manchester. We also offered an on-line opticffl for those who were unable to allend live audrtions. We invited just over 1 musicians lo aL11KM Irve. From these auditions we made awards lo 22 Senior Srtbolars fLY the 2024-2025 Academ Year. R•latSonshlp wlth Patron¥ The Drake Callgja Trust is honoured lo have Joseph Calleja, the Mallese lenor, as Ils Patron. Joseph Calleja is iegularly kept infomied of developments by the Head of Scholarships & Artist Planning. Together they share and discuss ideas and plans related lo the Trust's activities and Scholars. Joseph C8lleja is actively involved In the womolbon ol the Trust by means of his Soc1 media a¢counls, wrrting and sharing posts. Small company provl•lon¥ This report has been prepared accordance wilh the provisions applicab161o companies enlilled to the small cc¥npanies' exemplK)n. Organlsatlonal DOl0pMnI We continue lo fo¢us on raising awareness and profile of the Trust. Our website is regulady updaied, and we conlinue our use of Twrtter. Facebook and Inslagram lo promote our scholars and the work we do. We also post films of all our concert performan¢¢s on our YouTube thannol. Our social ffledia loolprinl continues to grow in traffic and user engagement and we conlinue lo see increased inleiesl and greater awareness of the Trust, resulting in a healthy number of applications for each round of scholarships and excellent and enthusiastic aUdnCe attendance at our events. We have regular meetings with Trustees, the Head of SCIlarShIPs & Arts'slic Planning and olh8r advisors, lo ensure that the day-to-day mana9ement of Ihe Trust is run smoothly, addressing current an(J fulvre plans. idenlrfying the need for additial areas of devekipmenl or lo raise any concems. PJY Policy The Tnjsteés are responsible for defining the TrusY5 pay pcdicy arKI d8cid4ng on the salaries of paKJ slaff. The Drake Calleja Tnjst currently has one paid stsff member, the Head of Sclarships & Artistic Planning. who hires in additional freelance help as needed. The Trustees evaluate the performance of paid staff once a year and decide on any changes. The Trustees recognise the importance of accountability and transparency, and their principles are lo pay staff a fair salary ano one that is is competitive within the music chanty sector. From these principles. the pay policy is..
Drake Calleja Trust Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Directorfs Report) (¢ontlnuod) Year ended 31 May 2024 Achlev8monts and perfomiancg (witlnu To rneel all national pay stsndards To pay all staff a living wage Ensure that pay reflects the Trust's objectives Ensure that pay reflects staff perfonnance Flnan¢lal review The Trust's work is reliant on dcffiations from benefactors. The company received donations of £278.950 during the year ended 31 May 2024 and made grant payments lo the musicians il supported of £98,000. The charity'$ funds on 31 May 2024 We in deficit to the exlenl of £1,027, whh are all unreslricled in nature. The Trustees consider that the company is a going concem on the grounds that current and future sotsrces of funding or support from the director will be continued to be received. Plan$ for future porS¢x18 The Drake Caltela Trust conlinu&s to develop and evolve, placing it as one of the l&ading organlsallons supporting exceptional musical lalènl in the UK. Our objectives for the fvjlure revolv8 ground perfomiance. education, sustainability and acces$ikn'lrty to our funding. For 2024 we made changes lo our 8pplical¥)n opening dates. These were earlier and slightly shorter. This is lo fall into line with Help Musicians. new opening dales and The Counless ol Munsler Musical Trust appli¢alion window. This a150 gives our assessing panel more lime lo deal with the number of applications we receive. From 2024 we decided no longer lo offer Junior Scholarships. We were d81ighled lo be able lo supwrt younger musicians. bul il delracled Irom our main focu$. which is cNJr S6nity Scholarships. Past and Future Evonts Events from May 2023 to March 2025: May 2023- Scholarship audilions. Live audilions in London, Manchesler and Glasgow. On-line assessment of shoruisted musicians for Ihosg Unab lo attend live audrtions. June 2023.. New Scholars 2023-24 announeed November 4th 2023.. Scholars, Concert. Corinthia Hotel, London. January - Febfuary 2024.. College fvjnding talks on-line &', in person January 8th 2024.. applications open February 12th 2024.. applicalions dose March 9th 2024.. Scholars, Concerl Leighlon House. London. May 2024.. Scholarship audrtions. Lon(1, Manchester. June 2024.- New Scholars Announced November 9th 2024.. Scholars, ConcerL corinth Hotel. London. March 22nd 2025.. Scholars. Concert Leighton House. London.
Drake Calleja Trust Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Directorfs Report) (contlnu8dJ Year ended 31 May 2024 The Drako YolanDa Award Al the time of writing. it is wrth sadness that we have made the decision lo close the Drake YolanDa Award. This is lo foc#Js our attention and finances on The Drake Calleja Tnjsl. The Drake YolanDa Award was founded in 2019 by James JP Drake and YolanDa 8rown OBE DL as a platform for emerging, non-classical artists to l)olh showcase Iheir lalertl and 981n the means for taking the next steps lo18unch their career. The grant was created lo supp)rt artistic development. touring. recLirding new music, music vi¢Yeos, marketing, bran¢Jing and purchasing new equipment. C8brating the rich and diverse UK music Scene, The Drake YolanDa Award cead applKants a9ed 16-30 from all genres. ranging from pop lo indie. jazz lo soul, rap and folk. Ten artists were awarded £3.000 each, with anolher ten recelving a grant of £500 each, toward supporting their projects. 4th September 2023.. ApFAieathJns dosed. 11th September 2023.. 20 Artisls Perfomied and had fac8-Iothface interviews al Cambridge Audio Melomania London. with a panel Chaired by YolanDa Brown. 25th September 2023.. The final Award Oelivery and Celobralion Concert Was at Pizza Express. Holborn with pertormances by the awardees lo invited guests and pre$5. The len winners ol the 2023 award weio selected frcrfn over 450 entries by a panel of industy professionals, chair8d by YolanDa Brown. A lolal sum of £35.000 was awarded to len emerging artists working ac10s5 music genres fangirkg from hip- hop lo funk. Iclk. c(wntry, Jazz and Indie, receiving £3,000 each. and a further len runners.up receiving £500 each. The Iru$le8s' annual rep1 was approved M 13 Febnjary 2025 and sne0 on beh8K of the board of Iruslees by.. Mr J J-P Drake Trustee
Drake Calleja Trust Company Limited by Guarantee Independent Examiner's Report to the Trustees of Drake Calleja Trust Year ended 31 May 2024 I report lo the trustees on my examinatKsn of the thancial slatements of Ordke Calleja Trust I'the charily'l for the year ended 31 May 2024. Responslbilltles and basls of report The trustees are also the dIrect(S of the company for the purposes of company law are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144121 of the Charrties Act 2011 {the 2011 Acl} and Ihal an independent examination has been requested by the trustees. l am qualifEd lo undertake the examination by being a qualified member of Institute ol Chartered Accountants in England and Wales. Independent examinerfs staternent I have compbled my examination. l ¢onfimi that no matters have come lo my attention in connection with the eXaminatn giving me cause to beIve= accounting records were not kept in respect of the charity as required by section 386 of the 20( Act: or the financial slalernents do not accord wtth those red$. or the financial slalemenls do not comply with the aCCntIng requirements of section 396 ofthe 2006 Act other than any requirement that the accounts gNe a 'true and fairf view whi¢h is not a matter considered as part of an independent examination.. or the financial st8tements have not been prepared in accordance with the method5 and principles of the Statement of Recommended Practice for accounting and reporting by chaiilies applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard appltsIe in the UK and Republic of Ireland IFRS 1021. I have no cOnMS and have come across no other matters in conneclion with Ihe examin8tion tr) which attentn should drawn in this reFk)rt in order lo enable a proper understsnding of the accounts lo be reached. kj Mr Henry J Leapman FCA Independent Examiner Leapman Weiss Buildin9 6 30 Friern Park London N129DA 13 February 2025
Drake Calleja Trust Company Limlted by Guarantee Statemenl of Financial Activities (including income and expenditure account) Year ended 31 May 2024 2024 UnreStrted funds Total funds 2023 Total funds Not• Income and endowments Donations and legacies Investment income 279.074 713 279,074 713 119,246 Total Income 279,787 279,787 119,246 Expendltur• Expenditure on charitsble activities Total expendlture 178.984 178,984 243,558 178,984 178,984 243.558 Net •xpendStur• and not movgment In lund• 100,803 100.803 1124.3121 R•conclllatlon of funds Total funds brought forward Total funds c•rrled forward 1101.8301 1101.8301 11,0271 11,0271 22,482 1101,8301 The stslemenl ol financial a¢livilies indudes gains and bsses recogntsed in the year. All income and expenditure derive from ¢Mtinuing a¢lNities. Th¢ not•s on pages 12 to 18 form part of th•se fln•nclal stat•mgn¢s. 10
Drake Calleja Trust Company Limited by Guarantee Statement of Financial Posltion 31 May 2024 2024 2023 Current assots Debtors Cash al bank and in hand Not• 13 46.625 7,654 24.379 6,286 30,665 54,279 Credltors: amounts falling due wlthln one y•ar N•t currnnt Ilabllltl•¥ Total a¥s•ti loss ¢urr•nt Ilabllltl•• N•t Ilabllltlei 14 55,306 132.495 1.027 101,830 11.0271 1101.8301 {1.0271 {101,830} Funds of the Charlty Unrestricted funds Total charlty fund• 11,027) 1101,8301 {1,0271 1101,830) 16 For the year ending 31 May 2024 the charity was entrtled to exemplim from audll urKler section 477 of the Companies Act 2006 relating lo sm811 companies. Dlreclors, responsibilities- The members have not qUired the company lo oblain an audit of its financial sl8ternenls for the year in question in accordance with seciw)n 476,. The directors acknowled9e their responsibilities for complying With the requirements of the Act with respect lo accounting reS arKI the preparats'on of financlèl 51atemonts. These flnancial slalernenls have been prepared in acLY•rdance with the provlsicffls applicable to compan$ subpd lo the sm811 Compan8, regime. These financial Slalements were approved by the board of Iruslees and authorised for issue on 13 February 2025, and are signed on behalf of the board by.. Mr J J-P Drake Tnjslee Th• not on pages 12 lo 18 form part of th•s• flnanclal •tst•m•nts. 11
Drake Calleja Trust Company Limited by Guarantee Notes to the Financial Statements Year ended 31 May 2024 General infomiation The charity is a public benefft enlty and a private company limited by guarantee, registered in England and Wales and a regislefed charty in England and Wales. The address of the registered offic6 is Building 6 30 Friem Park, London. N12 9DA, Unrted Kingdom. Statement of cornpllanc8 These financk81 ststements have been prepared in compliance w¢th FRS 102, The Financial Reporting S18ndard applicable in the UK and the Republic of Ireland,. the Statement of Recomfflended Practi applicable lo charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (Charities SORP IFRS 1021) and the Companies Act 2006. Accounting policies Basis ol preparallon The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilikn.es and investment properties measured at fair value through income or expendrture. The financial slalements are prepared in sterting. which is the lUnCn81 currency of the enlily. Going concem There are no materi81 uncertainties about the CharitS ability to continue. Disclosure exernptlons No cash fknw statement has been presented for the company. Judgements and key sources of estlmation uncgrtalnty The preparation of financial statements requires management lo make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstsnces. Fund accountlng Unreslricled funds are availab for use at the disCretn of th8 trustees lo further any of the charills purposes. Designated funds are Unrestrted funds earmarked by the trustees for particlar future project or commitment. Restricted funds are subjected lo restrictions on their expenditure declared by the donor or through the lenns of an appeal, and fall into one of ts¥o sub-classes.. restricted income funds or endowment funds. 12
Drake Calleja Trust Company Limited by Guarantee Notes to the Financial Statements (ln&d) Year ended 31 May 2024 Accounting policies (COnllny8dJ Incoming resources All incoming reSoUrS ale included in the slalement of financial activities when entitlement has passed lo the charity., rt is probable that the economic benefits associated with the transaction will flow to th& charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: Income from donatK)ns or grants is recognised when there is evvJence of enif(lemenl lo the gift, receipt is probable and rts amotsnt be measured reliably. legacy income is recognised receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical lo measure reliably. in whh case the value is derived from the cost to the donor the eslimaled resale value. Oonated facilities and services are recojnised in the accounts when received if the value can be reliably measured. No amounts are induded for the contribution of general vdunteers. inwme from contracts for Ihe SUPFAY of services is recognised with the delNery of the contracted service. This is dassified as unrestricted funds unless there is a contractual requirement for il lo be spent on a particular purp)se and returned rf ursspenl. in which case it may be regarded as restricled. Resources expended Expenditure is recc%Jnised on an accruals bas¢s as a liabilty is incurred_ Expenditure includes any VAT which cannot be lully recovered. and is dassffied under headings of the ststemenl of financial activrties to which il relates= expendf(ure on raising fund$ indudes the ¢osls of all fundraising activrties, events. non- charitsble trading adivilies. atvj the sale of donaled goods. expenditure on charitabk activ((ies includes all costs incurred by a charity in undertaking activities that furthef its charitable aims for the benefit of its benerlarIeS. including those support St5 and costs relating to the govemance of the charity apportioned to charitable activities. other expenditure indudes all expenditure that is neither lated to raising fvnds for the charity nor part of its expenditure on charitable aclivilies. All costs are allocaied to expenditure categories rellecting the use of the resource. Direct costs altribulable lo a single actNity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consislenl basis. 13
Drake Calleja Trust Company Llmited by Guarantee Notes to the Flnancial Statements {¢onNnuod) Year ended 31 May 2024 Accountlng policles fconiinu Flnancial instruments A financial asset or a financial liability is recr)3nised onty when the entity becomes a party lo the contractual provisions of the instrument. Basic financial instruments are inttialty rewjnised al the amount receivable or paable including any related transactK)n costs, unless the arrangement o)nstilutes a financing Iransaclion. where it is recognised al the present value of the fulvre payments dIUnted al a market rale of interest for a similar debt inslnjmenl. Current assets and current liabiltties are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequenwy measured al amtytised cost. Where investments in shares or preference shares are publicty traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impaiment. Other financial instruments are inrtially reCanISed at fair value, unless payment for an asset is deferred beyond nomial business ternis or fInand at a rale of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted al a Maet rate of interest for a simik4r debt instrumenl. Other financial instruments are subsequently measured al fair value. with any changes regnised in profil or loss. with the exceplion of hedging instruments in a designated hedging relationship (see hedge accounting policy). Financial assets that are measured at cost or amortised cost are reviewed for ots"ective evidence of impairment at the end of each porting d8te. If there is objective evidence of impaimienl, an impaim)ent loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recogni5ed. For 811 equity instrurnents regardless of signtficance. and other financial assets that are individualty slqnifanl, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk tharacterislics. Any reversals of impaimenl are recc¥Jnised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not prevN)usly been recognised. Defined ¢ontrlbutlon plans Contributions to defined contribution plans are recognised as an expense in t1 period in whith the related service is provided. Prepaid contributions are recognised as an asset lo the exlenl that the prepayment will lead to a reduction in future payments or a cash refvnd. 14
Drake Calleja Trust Company Llmited by Guarantee Notes to the Financial Statements (conthued) Year ended 31 May 2024 Accounllng pollcles fconllnu Deflned contrlbutlon plans When contributions are not expected lo be settled wholly within 12 Mth$ of the end of the reporknng dale in which the employees render the related service. the liability is measure(J on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which il arises. Llmited by guarante• The liability of the members is limited lo a sum nol exceeding £10. being the amount that each memb&r undertakes to contribute to the assets of the chartty in the event of 11$ being wound up while he. she or it is a member or within one year after he, she or it ceases lo be a member. Donatlons and l•g8¢S•s Unre$lricted Total Funds Unraslricled Total Funds Fund5 2024 Fund8 2023 OonaWon• Donation$ Ticket sales 278.950 124 278.950 124 119.040 206 119,040 206 279,074 279,074 119.246 119,246 Inv•itm•nt Income un$tred Total Fundi Unrestricted Total Funds Funds 2024 Funds 2023 Other Interest receivable 713 713 Expendlturo on charltable a¢tlvbtl•s by lund typg unreslr1ed Total Fund# Unreslricled Total Funds Fund8 2024 Funds 2023 Classical musical scholarships Support costs 172,266 6.718 172,266 6.718 237.301 6.257 237,301 6,257 243,558 178.984 178.984 243.558 15
Drake Calleja Trust Company Limited by Guarantee Notes to the Financial Statements (eOnllnu•dJ Year ended 31 May 2024 Expendlturè on thatable actlvltlfjs by actlvity typ Activities undertaken directty Support costs Total fund8 2024 Total fund 2023 Classical musical $cholarshw)s Governance co$ts 172.266 2,594 4.124 174.860 4,124 238,908 4.650 172.266 6.718 178.984 243,558 Analy8ls of support co$ts Musical $darshIpS Total 2024 Total 2023 Human Tesources Insurance 1,116 1.478 1,116 1.478 1,029 578 2.594 2,594 1.607 10. Independent •xamlnatlon f••$ 2024 2023 Fees payable lo the independenl examiner for-. Independent examination of Ihe fina18[ statements 1,500 1.475 11. Staff ¢o•ts Th8 total staff costs and employee banefrts for the reFQrting peric#J are analysed as follows.. 2024 2023 Wages and salaries Employer conlribuiion$ to pension plans 18.177 652 18,565 683 18,829 19.248 The average head count of employees during the year was 1 12023.. 1). The average number of full-time equNalenl employees during the year is analysed a$ follows.. 2024 2023 No. No. Number of staff - Administrative No employee roceived employeg benefits of rn¢e than £60.000 during the year {2023.' Nil). 12. Trustee romun•ralSon and exp•ns•s No remuneration or other benefits fr(Kn employment wilh the charity or a related gntity were received by the truslees. 16
Drake Calleja Trust Company Limited by Guarantee Notes to the Financial Statements (Wlllnu Year ended 31 May 2024 13. Debtors 2024 2023 Prepayments and accrued income Other debtors 16,625 30,OC 24,379 46,625 24.379 14. Credltors: arnounts falling duo wlthin one year 2024 2023 Trade creditors Acc¥uals and deferred incnme Social security and other taxes Other creditor5 21,982 6,626 1,953 24,745 13.332 806 118,357 55,306 132,495 15. Pensions and other post-retlrement benefits Definèd contribution plans The amount recognised in income or expenditure as an expense in relation lo defined ¢ontribulion plans was £65212023= £6831. 16. Analysis of charltable funds Unrestricted funds At 1 June 2023 At In¢ome Expendrture 31 May 2024 279.787 General funds (101.830) (178.9841 11,0271 At 1 June 2022 At Income Expenditure 31 May 2023 119.246 General funds 22.482 {243,5581 1101,8301 17
Drake Calleja Trust Company Limited by Guarantee Notes to the Financlal Statements (conthu•d) Year ended 31 May 2024 17. Analysls of net assgts between fund• Unrestrted Totsl Funds Funds 2024 Current assets Creditors less than 1 year Net Ilabllitles 54,279 155,3061 11,0271 54.279 {55.3061 11,0271 Unrestricted Tolal Funds Funds 2023 Current 8$3ets Creditors less than 1 year Not Ilabllltl•$ 30,666 30,666 1132,4961 1132,4961 1101.830) 1101,8301 18. R•latod Party Tran#actlon• The total of donation8 received durin9 the year ended 31 May 2024 from one ol the charity'8 Iruslees, Mr. J J-P Drake, was £278,91)0 {2023-. £118.7501. Mr. Bryan Evan8, who is a Iruslee of the tharity. recerved £5,393 during tho year ended 31 May 2024 in respect of audrtioning and piano accompanist work at ¢(certS musicians selected lor $cholar5hips awarded by the charity. 18