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 eX￿tsng 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 ¢dIab￿al@ with other organisations within music
and the arts.

Drake Calleja Trust
Company Limiled by Guarantee
Trustees, Annual Report (Incorporatlng the Dlrectorfs Report) I￿ntInUe￿I
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 Sen￿r Scholarships and 2 Junior Scholarships,
lo help wilh their studies for the academic year 2023-24.
Our scholar selectiofi was based on and artistic potent￿1. 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 a￿eSSIble
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 NoVem￿r. 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 interest￿g. 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 aL￿11KM 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 Soc￿1 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 DO￿l0pM￿nI
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 aUd￿nCe attendance at our events.
We have regular meetings with Trustees, the Head of SCI￿larShIPs & 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 additi￿al 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 Sc￿larships & 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, wh￿h 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 &amp', 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. C8￿brating the rich and diverse UK music Scene,
The Drake YolanDa Award ￿ce￿ad 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 rep￿1 was approved M 13 Febnjary 2025 and s￿ne0 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 eXaminat￿n giving me cause to beI￿ve=
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 re￿d$. or
the financial slalemenls do not comply with the aCC￿ntIng 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 appl￿tsIe in the UK and Republic of Ireland IFRS 1021.
I have no cOn￿MS and have come across no other matters in conneclion with Ihe examin8tion tr) which
attent￿n 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
UnreStr￿ted
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 re￿S 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 Compan￿8, 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 lUnC￿n81 currency of the enlily.
Going concem
There are no materi81 uncertainties about the Charit￿S 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 disCret￿n of th8 trustees lo further any of the
charills purposes.
Designated funds are Unrestr￿ted funds earmarked by the trustees for partic￿lar 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 (￿l￿n￿&d)
Year ended 31 May 2024
Accounting policies (COnllny8dJ
Incoming resources
All incoming reSoUr￿S 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 wh￿h 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 bener￿larIeS. 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 dI￿Unted 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 reC￿anISed at fair value, unless payment for an asset is
deferred beyond nomial business ternis or fInan￿d 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
Ma￿et rate of interest for a simik4r debt instrumenl.
Other financial instruments are subsequently measured al fair value. with any changes re￿gnised
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
slqnif￿anl, 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 M￿th$ 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￿$tr￿ed Total Fundi Unrestricted Total Funds
Funds
2024
Funds
2023
Other Interest receivable
713
713
Expendlturo on charltable a¢tlvbtl•s by lund typg
unreslr1￿ed 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 tha￿table 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
$d￿arshIpS Total 2024 Total 2023
Human Tesources
Insurance
1,116
1.478
1,116
1.478
1,029
578
2.594
2,594
1.607
10. Independent •xamlnatlon f••$
2024
2023
Fees payable lo the independenl examiner for-.
Independent examination of Ihe fina￿18[ 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•
Unrestr￿ted 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