COMPANY REGISTRATION MUMBER: 09680141
CHARITY REGISTRATION NUMBER: 1164114
Drake Calleja Trust
Company Limited by Guarantee
Unaudited Financial Statements
31 May 2025
LEAPMAN WEISS
Chartered Accountants
Building 6, 30 Friern Park
London
United Kingdom
N12 9DA

Drake Calleja Trust
Company Limited by Guarantsg
Flnancial SLitements
Year ended 31 May 2025
Page
Trust8es' annual rèport (incorporating the directors. report)
Indep8ndent examinerfs report to the trustees
Statement of financial activities {induding income and
expenditure account)
Slatement of financial position
Notés lo the financial statements

Drake Calleja Trust
Company Limited by Guarantse
Trusteos. Annual Report Ilncorporatlng thè Dlrfrctors. Roport)
Year ended 31 May 2025
The trustees. who are aL80 directors for the pury)o$ès of oynpany Law. present their re￿rt and the
unaudrted financial slatemef)ts of the th8rrty for the year ended 31 May 2025.
Refvrènc• and odmlnSstrativ¢ d•tall¥
R•glst•red Charity nam•
Charity registrntion number
Company r•glstratSon number 09580141
Prlnclpal offi¢0 and rngister•d Building 6. 30 Friem Park
offi¢*
London
N129DA
United Kingdom
Drake Call8ja Tnjsl
1164114
The trusteos
Mrj &P Drake
Mr B Evans
Lord Moynihan
Independènt •xamSner
Mr Henry J L&apman FCA
Structure. gov•mance and managem•nt
Th• charity is ￿ns￿'tUted as a company limited by guafantee. Its govwning d0￿ment is its
memorandum and articles of assoaabon. New trustees are recrurted based on their kno%￿￿dge and
expertise and are nominaled for appointment by thè agreement of the existsng trustees.
Oble¢ti¥•s and aclivitl
The aims of the Trusl are".
To provide s¢hoLarships for those with exceptKinal musical talent. part￿ladY those from
swalty or economically disadvantaged backgrounds studyin9 in the UK.
To proMdè perform¥rKe Opp￿tUn￿e$ and suppc*l throughout the ￿ar for stholarship
holdèrs.
The Trust's activities prowde educational and perforrnance opporbjnities lo exceptK)nal music¢ans
studying in the UK. These activit￿$ are planneij according lo the strengths. needs and artistic
aspirations ol the Trust's scholars and aim to have 8 meaningful imp8¢t on the dassical music scene
nd the wder Musi￿1 and ￿1￿ural scene. To deliver a v8ried and h￿h-qUaIr{Y programme of
perfomance and leaming aclivities. the Trust aims to Lyll￿borate wrth other organisations wthin music
and the arts.

Drake Calleja Trust
Company Limited by Guarant•e
Trustees. Annual Report (Incorporating tho Directors, Report) (¢onthu
Year ended 31 May 2025
Achl•vements and perf0m￿nCe
We opened our appl￿tIonS Or￿lIne fv(Mn January- Maich 2024. We work6(I through our selection and
shortlisting process from cwr on-line applutions and made invitab.ons io INe auditk)ns lo around 1
Musi￿￿n$.
We hehl live audrtions in London and Manchester in May 2024. We also hgld on-line audition$ for
those unable to attend in person.
We made 22 awards lo mUs￿lan$ sludying across the county. lo help wlh their studies for the
academic year 202&25.
Our scholar s81ècl￿ was based on and arti* potential. musical achievemgnt. ar*J financial need
and thera are no resirictions on what students can use their award for.
Our scholarships have undoubtedly helped these young mus￿an$. The cost of courses at
Conservatoires and Colleges c4Jnb"nues to rise and students are finding it evèr harder to supKK)rt their
studies, especially lor those coming frc¥n overseas. We aim to be as accessible as possible, allowing
entries from all nationalities as knng as they are Studying in the U

Drake Calleja Trust
Company Llmlted by Guaranto0
Trustoes. Annual Report (Incorporating tho Dlrectors, Report) {conthuqO
Year ended 31 May 2025
Achl•v•m•nts and p•rfomianc• I¢oniinu•¢
Aetlvltle• And Ev•nts 2024-25
Ourfng the Autumn we presented our scholars ￿ C(￿Cert at our usual venue, The Corinthia Hotel on
Saturday 9th November. This is one ol the highlights of our y8ar. and gives our scholars an invalu8blg
opportunity lo perforn live. The concart was hugety successful 8nd appreaated by aUd￿nCe and
perfofrners alike.
As with all our publK performanc*$, we had the ¢>)ncerls filmed, giving the Scholars valuable
recordings ol Ihèmselves pèrf0￿1n9 live, which they can u$8 lor thtrir own promotK)nal m8l&rial. The
concerts are all available to view on our YouTvbè Channel. We algo had a pholographer prèsent,
taking hoadshols of ihe scholars and rehearsal photos. A8 w911 as bging mada availatAe for the
holars usè, the Trust use5 these lor promoknonal material.
Continuing our pr•vious collaborallon. thg TN8t leam•d up wth Hdp MusK?an$ in January 2025,
giving talks and adwce about funding and funding applications This year we were also joined by The
Countèss of Munslef Musical Trust. Together we gave preyentalions to all tha music u)Ilege5 in the
UK, offering general adwcè about how to prepafe and submit successful funding applicalions. preparè
budg¥ts, and lips on avdrtionin9. This is not only usefvl lo young Musi￿8nS t)ui also raises awareness
ol the Trusts.
In January 2025 we adjusted our appliC*t￿n op9ning W￿doW, lo fft ￿ Ihe other rnajor fiJndgr$, Help
Musicians and The Count888 of Munsler Tru81. We optrnod on January 6th 2025 for 8IK weeks. ¢losing
on 10th February.
On the 22nd Marth 2025 wè presented our spring cort•rt, rètuming lo th• slunning Surroundings of
L6ighlon Hovse. A5 8hvay$, our scholafs provided an interesting, mix•d and varied programme and
performed lo a packed hall.
We offered one-twe monloiing again lo all our Scholars. ThL8 98ve all the mu$ldan6 we $upport a
unique opportunity lo explore and dis¢ws$ Iheir artistic developm&nt and ￿r••r progression. Thèse
individual sessions have Prowd lo bo h8lpful arrfl 18 $om•thing that Ihey arè not offered
elsewhere during their slud¢eB.
Having Teceived our appli¢alions on-lim. our 88$•8sing p8rb•l c4)mplet•d the 601g¢b'on process,
creating a shortli$l ol musiuans lo inwte lo perform live at aUdrt￿fi. In May 2025, we held 4 days ol
Ilve auditions in London and 1 day in Manchester. We also offered 8n on-line option lor those who
were unable to 8ttgnd live auditions. We invited ju81 over 1CQ musicians lo audition liv•.
From tht60 auditKJns we made award$ to 27 Sthdors for th• 202&2026 Academ* Y•ar.
R•l*tlon•hlp wlth P•trofi•
Th8 Drake Calbja Trust is hOr￿ured to have Joseph Ca1￿la, Ihe Manese tenor. 3$ ils Patron. Joseph
Calleja is regularly kepl inlofrned of developmenls by Ihe Head of Scholarships & Artistic Planning.
Together they share and discuss ideas and plans rdal¢d to the Twsi's actiwties and scholars. Joseph
Calleja is actively irbvolved in th& promot￿n ol Ihe Trust by means of his social media acctsunls, wr(ting
and sharing posts.

Drake Calleja Trust
Company Limited by Guarantse
Trustees. Annual Roport (Incorporatlng tho Dlr•ctors' Report) Ictsnllnu•¥
Year ended 31 May 2025
Achl•vem&nts and p•rfomwnc• (conthv•dl
Small Company provl¥lon*
This report has been prepared in accoidance wrfh tho proMsk)ns appluble lo companies 8nlitl8d lo
the small companies. exèmption.
Oryanli*tlon•l Dev•lopment
We continue lo focus on raising awareness and profile ol the Trust. Our website Is regularly updated.
and we r)Jntinue our us& of X. Faceb(M)k and Inslagram lo promote our scholais and Ihg work we do.
We post fikns ol all our concert perfornanc¢s on ouf YouTube **anng1.
Our social media footprinl continues to 9row in tra￿ and user engagement and we Contin￿ lo see
incraased int&r¥sl and greater awareness of the Trust, rosy￿"n9 in a heatthy number ol applications for
¢ach round of $Ch￿arshipS and 8xcelltnl and enlhusiaslic 8udN?n¢e attendan¢e al our gvenls.
We have rèwlar meebngs with Trustees, the Head of Stholarships & Arti$lic Planning and othor
advisors. lo ensure that thé day-lfydiy managemgnl of ihe Tr(tsl is run $m¢xJthly, addressing current
ond futur• plans. M18ntsfying thg neèd lor additional areas ol dev&lopm8nl or ￿ false any concoms.
y Pollcy
Thg Tnjslees are responsibltr for (Jefining Ihe Trust's pay policy and deudlng on thg salaries ol pald
Staff. The Dfake Calleia Trust currenlly has one paid staff member. Ihe Head of Scholarships & Artt'stic
Planning, who hirgs in addil*)nal Ireelance help as needed. The Trustees evaluate the perfornance of
paid staff On￿ a yoar and dgode on any chan9e$. The Trnslees recognis8 the importancg of
accounlabilrty and Iranspar&ncy. and Ih&iT principles are lo pay staff a lair Salary and one that is is
tsjmwitivg within the fflusic c*arity sector. Frtyn these wlwpl8s. the pay policy 18..
To meet all national pay $t¥ndards
To pay all staff a living wage
Ensure that pay renect$ tho TrusV$ object1￿$
Ensure that pay rtnacts staff wform8nc•
Fln•n¢lal r•vl•w
The Tru$l's work 18 relianl on donaliong fr￿n benefaclofs. The company received donat￿n5 of
£175.000 during the y•ar ended 31 May 2025 and made grant payments to Iha musi&ans it supported
of £64,[￿). The charrtls funds on 31 May 2025 were in surplus lo tt)e extent 01 £19.358, which are all
unr8slricl¥d in nature. The TnJstee8 Cons￿Or Ihat the wnpany 1$ a going concern on th& grounds that
Current and future $OUfces of fvnding or suFwt from the director ￿11 ￿ continued to bo ￿ceived.

Drake Calleja Trust
Company Limited by Guarantse
Trustees. Annual Roport (Incorporatlng the Dlroctors. Roport) Iconflnv
Year onded 31 May 2025
Plans for fuiure wrfods
The Drake Calleia TTUSI continues to develop and ev0￿, pla￿19 it as one of the leading
organisalions supporting excepb'onal musical talent in the UK. Our objecti¥e$ for the ftjttjre revolve
around performance, èducation. SLtstainabilty and ac¢essibilty lo our funding.
Past and Futur• Events
Evtrnts from May 2024 to thè end of year 2026.
May 2024.. Scholarship audstions. Live audthons irh London. Manchèster. Ort-line assessment
of 5hordisted musicians for those unable lo attend live auditions.
June 2024." New S¢holafS lor 2024-25 announ¢8d
November 9th 2024.. Scholars, CorKerL Corinlhia Hotel. Lortd￿.
November 2024- February 21Y25.' College funding talks on4ine & in person
January 6th 2025.. appIl￿tIonS open
February 10th 2025.. appli￿110n$ dose
March 22nd 2025: Scholars, Concert. Lebjhton House. London.
May 2025.. Scholarship auditions. London. Manchester.
June 2025." New Scholars Announced
Novernber 8th 2025." Scholars. Cor￿rt. Corinthia Hotel. London
J8nuary 2026." on-line applications
Marth 51h 2026. Scholars. Concert. The National Liberal Club
May 2026. Scholarship audrtions. London, Manchester.
June 2026.. New Scholars AnnouncÉd
November 14th 2026." Scholars. Concert. Corinthia Hold. London
Small Company provbsSon•
This report has been prepare<J in accordance wiéh the provisions app1K*b￿ to o)mpaniès entitled to
the small companies exemption.
The trustees, annual reFQrt lincorpoTating the directors. report) wa5 approved on 16 February 2026
and signed on behalf of the board of tnjstees by..
Mr J J-P Drake
Trustee

Drake Calleja Trust
Company Limltad by Guaranteo
Independent Examiner's Report to the Trustses of Drake Callgja Trust
Year ended 31 May 2025
I report to the trust￿$ on my examination of the financ¥al slalements of Drake Calleja Tru$l I'lhe
Charit￿ for the y&ar ended 31 May 2025.
R••pon•Sblllll•• and ￿#1* of rnport
Thè trustees are also the dirgcaors of the company lor the purposes of company law are rgsponsible
lor the preparation ol the finanoal stalemenls. Th& Iwslees wn3ider that an audit is not required for
this year under seclK)n 144121 of the Charities Ad 2011 Ith¢ 2011 Aai and that an independent
examination has bgen requ&$led by thg Irustees. l am qualiffftl lo und$rtake Ihe &xamination by being
a qualified member of Instrtule ol Chartered Aco)untants in England and W￿&$.
Ind•p•nd•nt •xomln•rf• •t*tem•nt
I have ctsrnplgled my examinal¥)n. I confirm that no matters have come to my attention in ¢onno¢tlon
with Ihe examinatKJn grying me cause to beli&ve'.
ac¢ounting rec¢rds were nol kgpt in rèsp8cI of tho charity as roquwed by $•ctlon 386 of Ihts
20C6 Act., or
the finandal statwnenls do not ¥c(yJrd wilh Ihoso recordB,' or
thè finandal statements do not comply with Ihe ac)￿n11n9 requirem&nls of soction of
th¥ 2C(6 Acl other than any requifement that the accounts givg a 'lrue and fai¢ view which
rd not a matter consthed as part of an independgnl e¥arninalion.' 01
th• financial slalemonts havo not bagn preparod in accwdan¢e with th• mgthTrJs and
prlrriplgs of the Stslèm•nl of Recommendod PractKe for arLounling and reporting by
charities applicable lo charilies pr&pallng their accounts w) accor¢Jan¢e wilh Ihe Financial
Rgporling Slandard appluble in the UK aNJ Republ￿ of Ireland IFRS 1021.
I have no concems antj have come acro$$ no othgr matters in conneCt￿)n wilh th& examinatson to
whi¢h alt•nlion shoupj be drawn in thki reFQrt in order to •nable a propw undgistanding of the
accounts lo be reached.
Mr Henry J Lfjapman FCA
Independent Examiner
L&apman Wei
Building 8
30 Friern Pa
London
N12 9DA
16 February 2026

Drake Calleja Trust
Company Limlted by Guarantse
Statement of Financial Activfties
(including income and expenditure account)
Year ended 31 May 2025
2025
Unreslricted
funds Totsl funds Toi81 funds
2024
Incomè and endowments
Donations and legaaes
Investment income
175,C(rf)
175,fXrf)
279.074
713
Total income
175.C#JJ
175,000
279.787
Expendlture
E¥penditure on charrtable actiwti8S
Tolal exp•ndltu
154.617
154,617
178.984
154,617
154,617
178.984
Not incom? and net movem?nt In fund*
20,383
20,383
1CKI.803
Re¢onciliation of funds
Tota1 fund$ brought forward
Total fund8 carried forward
(1.02n
19.356
11.02TJ
19,356
1101,830)
(1.02n
The statement of finanaal actiwiiès indutjes all gains and bsses r&>)gnised irt the year.
All income and expenditure defive from continLbing activities.
Tho nots8 on p8g88 9 to 15 ft>nn part ol tTr•#8 flnan¢lal slatom•nls.

Drake Calleja Trust
Company Limited by Guarantsa
Statemont of Financial Posltion
31 May 2025
2025
2024
Not•
cu￿nt ••*•ts
Debtofs
Cash at bank and in hand
13
82.625
19,683
46.625
7,654
102.308
54.279
Crndltorn.. amounts falllng du• wlthln on• ￿•1
N•t eurrgnt aS8•ts
14
82,952
55,306
19.356
11,02n
{1,02n
11.02n
Totsl a•uts less curY•nt IlabllStl••
19.356
19,356
Fund8 of th• charlty
Unrèstricted lunds
Totsl ch•rlty fund•
19.356
11,02T)
{1.02n
19.356
For Ihe y88r &nding 31 May 2025 the ch¥rity was entitled lo exemption frcrfn aLKlil und•r section 477 of
the Companie5 Act 20￿ relating to $maN ￿rnpan￿$.
Dir•ctor5' rgsponsibililw..
Th• membef8 not requwod the c￿MpanY lo obtain an audit of its fingn¢ial slal•ment8 for the
y•ar in question in a¢￿danc4 ￿th section 476.,
The dire￿013 acknowl¥dg6 Iheir rg$ponsit)iliii8$ for ￿MplyIng wilh tha r8quiremenl$ of the Acl
with res￿¢* lo *cr￿unlIn9 records and th• preparalion of fin•n(¥al $talem•nts.
Th860 finanaal statem&nls have been pre￿Ied in accordance with the pro¥ision$ applicable lo
companies Subject to th8 $maN cornpanigs, regime.
These finanaal statements were approv•d by the board of trustees and authorised for is$￿ on 18
Fetrfuary 2026, and ar8 wgned on behalf of the board by..
J J-P Drake
Trustee
T￿ noth• on pmgos 9 ¢0 15 oltl•M IIMrKlal •tat•m•nts.

Drake Calleja Trust
Company Limited by Guarants•
Notes to the Financlal Statements
Year onded 31 May 2025
G•n•rnl Inforniatlon
The charity is a benefft enlty and a piivate company limrted by guarantee, registered in
England and Wales and a registere11 tthanty in England and Wales. The address of the
registered office is Building 6. 30 Friem Park. London, N12 9DA, United Kingdom.
Statement of compliane•
These financial slalements have been prepared in cunplian(* with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic ol Irelanij,. the Statement of
Recommended Pla￿￿e applicable to Charit￿s prepanng their a￿Al$ in ac￿rdanCe with the
Financial Reporting Standard appltsble in the UK and Republic of Ireland IFRS 1021 (Charities
SORP IFRS 102)) and Ihe Companies Act 2￿6.
Accounting pollcles
Ba•ls of preprntlon
The financial slatements have been prepared on the historical cost basis, as modrfied by the
fevalualK•n of certain finanual assets and liabilsties and investment properties measured al lair
value through income or ex￿nditure.
The financaal Statements are p￿pared in sterling. wh￿￿ ts the frJn¢b"onal currency of the entity.
Gohng eoncern
There aTe no material U￿rtainlieS atout the dwrrtrfs ability lo continue.
Dlsclosurn •xemptlon•
No cash flow statement has been prewiled for the cfjmpany.
Judg•ments and key sour¢os of 8stim•tion uncertsinty
The preparation of the finanrial statements r￿Ulre$ management io make judgements,
estimales and aSSumpt￿S that affe(a the amounts reported. Thèse estimates and judgements
ar8 continually rewewed and are based on experien¢e and other factors, induding expe¢t*ions
of future events Ihat are believed to be reasonable undèr the circumstances.
Fund accountlng
unreStr￿ted lunds are available for use al the dIs¢yet￿n of the twstees lo further any of the
charrtys purposes.
Designaled fvnd$ are unrestn.cted funds e8marked by th¢ trustees for partKular ftjlurè project or
commitment.
Restricted funds are subjecte(I to ￿$trK￿l0￿$ on their 8xpenditure dedared by thè donor or
through the tems of an appeal, and fall into one of M sub￿asseS." ￿Stricted income funds or
endowment funds.

Drake Calleja Trust
Company Limited by Guarantèe
Notes to tho Financial Statemonts (¢on¥n4wl
Yoar ended 31 May 2025
Accountlng policF•s
Incomlng rgsources
All incoming iesour¢e5 are induded in the statement of financAal activities when èntitlemènt has
passed to the charity.. it is probab￿ thal the econorn￿ benefits associated with the transaction
will flow to the charity and the amount can be reliably measured. The following spe<ific policies
arè applied lo particular categories ol income..
ino)me tr£￿ donations of grants is f8cognis9d when there is 9￿derIcO of entitlemenl lo the
grft, receipt is probabte and its amount can be measured relkably.
legacy infxjme 1$ recognised wthen receipt is probable and ent￿eM￿l is established.
in¢*me IrLYn donated goods is measured at the fair Val￿ of Ihe goods unless this is
iMpract￿al to measure rel*bly, in which case the value is denved from the cost to the donor
or the estimated resale value_ Donated faalrfie5 and services a￿ recognised in the
accounts wh&n receiveil rf the value can be relkabty measts￿d. No amounts a￿ includad for
the contribution ol gentrral volunieers.
ino)me from contracts for the supply of semces is recognised with the delivery of the
contracted seNce. This is dassrfied as unrestricted fund$ unless there is a contractual
requirement for it to be spent on a parti(yJlar purpose and retumed rf unspent. in which case
rt may be regar¢Jed as resth"cted.
Resources •xp•nded
Expenditure is recognised on an ¥￿￿al$ basis as a liability 1$ incurr9d. Expendrtuie indudes any
VAT which cannot be fully recovered, and 15 dassif￿d urKler headings of the statement of
finanual activrties lo which il ￿lateS..
expendrture on raising funds includes the ￿StS of all fundraising aL*vities, events.
non-¢haTitable trading actiwtie$, ansj the sale of donated goc¥Js.
expenditure on charitsbfe actiwlies all costs Incur￿ by a chafity in undertaking
actiwties that further its charrtable aims for the benefit of rt5 benef￿lanes, including those
support ojsts and costs relatsng to the gov&mance of the charity apportioned to charitable
activrties.
othér expendrture indudes ￿1 expendilufè that is nèrthei related to raising funds for the
charrty nor part of its expendiiura on charitable actMti"e8.
All tX)sts are allocated lo expendrtuie categories ￿flectir1g the use of the resource. Direct ￿$18
attributable lo a single adivity are allocated direfAly to that activity. Shared costs are apportioned
between the activit￿$ they contribute to on a reasonable, justifiable and (xjnsistenl basis.
10

Drake Calleja Trust
Company Limltod by Guarante•
Not•s to the Flnanclal Statements Ic•nthr•
Year ended 31 May 2025
Accounting pollcb•¥ (GonVnu•dl
Flnanelal In•trum•nts
A finandal a5sel or a finanaal liabilrty ￿ rec¢¥nised onty when the entity beo)ffltss a party to the
ts)ntTactual prow$ions ol Ihe inslwment.
Basic finanual inslrumenls 8re initially fecognised at the amount rec9ivable or payable including
any related transaclion Costs. unless th& arrangement conslitvtes a financing Iransath'on, where
fl is recognised at the Pfesenl value of the future payThents discounted al a market fate of
intw&st lor a similar debt inslrumenl.
Current assets and currenl liab11tt￿ are subsequenlty measurfjd al thé Cash Of olhgr
considet8tion expected lo be paid or received and not di5ts)unt&d.
Debt instruments are subwueniiy m8asurod at amortised o)$t.
Where inveslmenls in shafes or prelgrenco shares ore publdy trad￿ or thèir lalr valu• can
otherwise be rneasured reliably, Ihe investmenl is subsequently m8asur8d al fAir value wrth
changes in lair value re¢ognised in income and oxpgndrture. All other 8uch inveslmgnl¥ are
subsequ&ntly measured al cost le$$ impairfflgnl.
Other finanual instrument8 afe initially r•cognisgd al l•ir value, unles8 p8ym8nl for an a6$•t is
delerred beyond normal busin8SS temi$ or financed at a rato ol Int8fe6l Ihal is not a market rate,
in which ¢asa the a$$8t is measured at the presgnt valu8 ol the future payments di$counled at
markel ralè ol inleresl for i similar debl Instrum￿¢.
Other ffinancial in$truments are $ubsequ•nlly measured at fair v8lu8. Wrth any changes
r8cogni$ed in profrt or k)S$, Wrth Ihe excoplion ol h•dginy in$trumènl$ n 8 do$ignated hedgin9
relationship l$ee hedge accounting poI￿Y).
Financi81 assets that are mgasured at eosl w amorli$ed ¢081 arg revlewed for objective &Mdence
of impaimgni al the and ol eath reporting dale. If there is objgciive &vidence ol impaifment, an
impairmenl loss is recognised under Ihe appropriate heading in the Statement ol financial
a¢tivilie$ In whK4) th8 initio19ain wa$ recognised.
For 811 Èquity instruments r&9ardl85$ of wnffjicance. and olher finan¢io1 as5els Ihal aro
individually 51gnrficanl. Ihestr afe assessed indiMdually for impairmènt Other financial a85els are
•rther ¥$sessed indiwdu8lly or grouped on th8 basis of similar cl￿11 risk char>ct•ristiCS.
Any reversals ol impaimerf are recognffjed immedialety. lo Ihg extent that the rev8r5al dogs not
result in a ¢arrying amount of tho financial a$s&t that trxceed8 whol thè carrying amount would
have be8n had the impairment not pre￿O￿$1Y been recogni$ad.
D•flnod contrlbutlon pl•n•
Contribution$ to defingd conlributwjn p&ns af• recognised as an expens• in the pariod in which
the related serwce 1$ provided. Prepai*J Contributions •ro r8cognis*d as an 4sset io the exienl
that the prèpayment will lead to a red￿tIOn in fuluf8 payrn•nts or 8 ¢ash refund.

Drake Calleja Trust
Company Llmited by Guarantee
Notos to the Flnancial Statsments (¢Mlthu•d)
Year onded 31 May 2025
Accounting pols¢iu (¢onthu
Defined contribution plans (¢onJnu•47
When contributions are nol exp8¢ted to be settled wholty within 12 rnonths of the end of Ihe
reporting date in which the employees render the related strrw￿. the liability 15 measured on a
discounted present value basis. The unwinding of the discount iecognisèd a$ an expens& in
the period in which rt arises.
Llmlted by guarnnlee
The Ikgbility of the members is Iwnited to a sum not exc8811ing £10, being U)e arnount that each
member undertakes to coniributè lo the assets of the charity in the event ol its being wound up
while he. she or rt is a membei or ￿thin one year aftw he, She or it ￿Se8 to be a member.
Donatlons and legacS•4
Uniestricted Totsl Fund* Unrestricted Total Funds
Funds
2025
Funds
2024
Donatlons
Donations
Ticket sales
175.LX
175.C
278,950
124
278,950
124
175,(KK)
175.L
279.074
279,074
I￿¥￿tMont Incom•
Unreslricted Total Fund• Unresthcled Total Funds
Funds
2025
Funds
2024
Othar interest recervab
713
713
Exponditurg on ¢harilabl• •¢livilies by fund type
Unrestr￿e￿ Total Fund¥ Unre$tn"¢ted Total Funds
Funds
2025
Funds
2024
CLH5sical musical scholaiships
Support costs
143.255
11.362
143.255
11,382
173.022
5.962
173.022
5.962
154,617
154,617
178.984
178.984
12

Drake Callèja Trust
Company Limited by Guarant•0
Notes to the Financlal Statemonts l¢wthu•dJ
Year ended 31 May 2025
Exp•nd1￿r• on ¢h•rhabl• actlvlll•• by actlvtty typ•
Acli¥it
undertaken
directly Support tsjsts
Total fund¥ Total funds
2025
2024
Classical musical stholar$hips
Governancè costs
143,255
6,318
149.573
174.860
4,124
143.255
11.362
154,617
178,984
Anal￿1$ ol •upport ¢osts
Mu8ical
¥tholarship8 Totsl 202S Tolèl 2024
Human resources
Govemat)ce ¢￿tI
Insurance
4,812
4,812
5,044
1,506
4,124
1,478
1.506
11.362
11,362
5.962
10. Ind•p•nd•nt •x•mln•tlon l•••
2025
2024
Fegs payable lo the independènt examiner for..
Independent examination ol the financial stalemanl8
1,500
11. St*ff co•ts
The total staff ¢o$ts gnd empk)yeo bonèfit8 for repNkng poriod are an01￿&d as follows."
2025
2024
Wage$ and salaries
Empbyer ojntribulions to pensKJn pkqns
21,858
481
18,177
652
22.339
1B.829
The average head cg)unl ol empkjytes duriThJ the year wa# 1 12024.. 11. The average nurnbttr ol
fiJlFlime equivalenl employees ¢Juring Ihe year 1$ analysed as lolows..
2025
2024
No.
No.
Number of staff - Adminislr8tfv
No employee receiv¢d ern￿Oyee t4neffts ol more than te0.(￿ JU￿n9 the y94r12024'. NII}.
13

Drake Calleja Trust
Company Limit￿ by Guarantao
Notes to the Finan¢lal Slatgments
Year onded 31 May 2025
12. TnMl•• rnmunorntton and •xpen•
No remunèral*)n oi other benefrts from gmpknymenl with tharity or a related fjnllly were
re¢eNed by the Iruslees.
13. D•btorn
2025
2024
Pr8payment$ and acGwed i1￿me
Olher debtors
17,625
65.000
16,825
30,000
82.625
46.825
14. Credltor•: *mount¥ falllng du• wlthln on•
2026
2024
Trade c4•drtor8
Ac¢rL*als and deferrèd income
Soa'al se¢unty and othw la¥es
Net wages conlrd a￿o￿lt
Olher creditors
21,364
7.570
2,212
1.212
50,594
82,952
21,982
6,626
1,953
23,594
55,3C6
1S. P•n•lon• and oth•r po•t r•#r•m•nt b•n•fll¥
D•fln•d ¢ontrlbutlon plan•
The amount reCogn￿d in income or expwndllurt as ￿ 8xwn80 in relation to defined
conlribulion plans waB £48112024.. £652}.
16. Analy•l• ol ¢h•rltabl• fvnd•
Unrn•trlct•d fund•
At
1 Jung 2024
At
Irrt))me Expenditure 31 May 2025
General lund8
11.027)
175,CQO
{154,6171
19,356
Al
In(x)me Expendttur¥ 31 May 2024
279,787
178,9841
1 June 2023
General lund5
1101,8301
11,0271
14

Drake Calleja Trust
Company Limltod by Guarantee
Notos to the Financial Statements (conithu•tQ
Yoar onded 31 May 2025
17. Analysls of n¥t assets b•twe¢n fvnds
Unrèstricted Totsl Funds
Funds
2025
Current assets
Creditors less than 1 ye#r
1ffk,308
182,9521
19.356
102,308
{82.9521
19,356
N•t a¥••ts
Unreslitted Totsl Funds
Funds
2024
Current assets
Creditors less than 1 year
54.279
155,3061
11,027)
54,279
{55.3081
{1.027)
Net a$$•ts
18. Rèlated partles
During the year the tharity enler8d into tha following tran5aclK)ns wlh related parties."
Bpjance owed byl{owed
Transactlon ¥•lu•
tol
2025
2024
2025
2024
James Drake
Bryan Ewans
The Drake FoundatKJn
175.fAMJ
5,461
278.
5.393
{46.594}
{3,9281
14.CKJOI
13.7751
{4.5001
Thè total ofdonations reeei¥ed during the year ended 31 May 2025 ￿lated lo unrestricled private
donations from one of thè ¢harity's trustees. Mr. J J-P Drake. was £175.000 (2024.. £278,9CXII.
Mr. Bryan Evans. who is a trustee of thè charity. received £5.461 during the year ended 31 May
2025 in ￿SpeCt of 8udiiioning and piano 8txompanist work on an ami's length basis at concerts
for musicians se￿Cte£l for scholarships award*1 by the Charity.
At 31 May 2025, Ihe charity owed £4,(th 12024.. £4.SCQ) to The Drake Foundation. a private
cLNnpany limrted by guarantee wrthout share Capital. The Drake Foundation is controlled by Mr. J
J-P Drake, a trustee of the charity. This amount is induded within creditors and relales to the
charitls music81 Scholarship costs.
16