COMPANY REGISTRATION NUMBER: N1031690
CHARITY REGISTRATION NUMBER: 100348
Drake Music Project (Northern Ireland)
Company Limited by Guarantee
Unaudited Financial Statements
31 March 2024
MJM MCLOUGHLIN LLP
Chartered Accountant
54 LISBURN ROAD
BELFAST
BT9 6AF

Drake Music Project (Northern Ireland)
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2024
Page
Trustees, annual report (incorporating the director's report)
Chartered accountant's report to the board of trustees on the
preparation of the unaudited statutory financial statements
Statement of financial activities (including income and
expenditure account}
Statement of financial position
Notes to the financial statements
8-15

Drake Music Project (Northern Ireland)
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report)
Year ended 31 March 2024
The trustees, who are also the directors for the purposes of company law, present their report and the
unaudited financial statements of the charity for the year ended 31 March 2024
Reference and adminlstrative details
Registered charity name
Drake Music Project (Northern Ireland)
Charlty registration number
100348
Company registration number N1031690
Princlpal office and registered Unit sc RDC Win Business Park
off ice
Canal Quay
Newry
County Down
BT35 6PH
N. Ireland
The trustees
Mr l Boylan
Ms P Forker
Ms E Farrell
Ms M Doyle
Accountants
MJM MCLOUGHLIN LLP
Chartered Accountants
54 LISBURN ROAD
BELFAST
BT9 6AF

Drake Music Project (Northern Ireland)
Company Limited by Guarantee
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DRAKE MUSIC
PROJECT (NORTHERN IRELAND)
Year ended 31 March 2024
Structure, governance and management
During the twelve months of this financial year, we at Drake Music Project Northern Ireland have
witnessed a consolidation of our tutor team, an increase in participant numbers and requests for
workshop delivery, and also an increase in our research impact, coupled with international interest in
our work.
We have been involved in weekly workshops, taster sessions, short series, and year long composition
workshops, delivered by a strong and professional team of assistive technology tutors and musicians,
very well consolidated after the negative impact that Covid 19 had on the numbers of tutors we had
available on our roster for activities.
We have delivered workshops, ensemble tasters, performances and sharing sessions across Northern
Ireland. While our work was concentrated on our studio spaces in Newry and Belfast, we have delivered
many more activities to residential centres in their own bespoke spaces, with equipment travelling with
tutors from the North Coast to the heart to Co Armagh for scheduled workshops.
With demand for workshops for teenagers with mental health, physical disabilities and also autism
increasing year on year, this year we also have witnessed an increased demand for workshops and
developmental classes for people with acquired brain injury, and we are very energised with the
increase in demand, and requests for longer and longer series of workshop sessions with Brain Injury
Matters and also The Brain Injury Trust, and also with Headway, as we have staged workshop series
across Northern Ireland in daycentres and activity centres for these very focused organisations.
An invitation to present our work in conference and seminar sessions in Bengaluru India has
witnessed an increase in interest for our research and outcomes across Europe and into the USA. Our
CEO presented to audiences in excess of 750 people, all with interests in empowerment, equality and
inclusion. We continue to develop these partnerships and are working in research with the Psychology
Dept of Christ {deemed to be} University Bengaluru to audit and measure the impact and outcomes of
our composition and performance workshops for people with physical and learning disabilities. We are
working in conjunction with this partner for an approach to the British Council to bring access
technology and leaming to groups in the Bengaluru district, planning to plant seeds for future access
workshops and inclusive opportunities for people with all natures of different abilities in the region and
beyond.
Fundraising for this year has decreased in terms of direct income, as we, like so many others in the
charity sector have had to deal with a decrease in available funds post Covid. We have been able to
use some of our funds carried foward from the previous year, for continued delivery and expansion of
our services. We would like to take this opportunity to thank the Arts Council of Northern Ireland, BBC
Children in Need, the Community Foundation for Northern Ireland, the Radcliffe Trust and our many
funders and supporters for their funds, encouragement and support for our work throughout this year.
We would like to take this opportunity to thank the entire artistic team of associate tutors at Drake
Music Nl, all our senior associates, Level 1 tutors and our regular inducted new trainees for their very
professional delivery and enthusiasm for inclusion and empowerment in our music sessions and
workshops. We are very grateful to all who continue to offer their availability to the Project, and we
need and will continue to build capacity in our associate team in order to cope with the increase in
demand for our services.

Drake Music Project (Northern Ireland)
Company Limited by Guarantee
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DRAK,'E MUSIC
PROJECT (NORTHERN IRELAND)
Year ended 31 March 2024
Lastly, I want to extend my gratitude to the Trustees of Drake and its CEO, Dr. Michelle Mccormack,
for her unwavering dedication, perseverance, integrity, and exceplional abilities. Her leadijrship has
been vital in advancing our Associate Musicians and overcoming the challenges posed by Covid. Thi5
has enabled our musiclans with disabllities to engage in music making, fostering thelr integration into
creative communities and enriching their social, work, and home lives.
The trustees, annual report and the strategic report were approved on 10th October 2024 and signed
on behalf of the Board of Trustees by..
Mr lan Boylan
Chair of the Board of Trustees
Drake Music Project Northern Ireland

Drake Music Project (Northern Ireland)
Company Limited by Guarantee
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DRAKE MUSIC
PROJECT (NORTHERN IRELAND>
Year ended 31 March 2024
I report on the accounts of the company for the year ended 31 March 2024 which are set out on pages
6t014.
Respective responsibilities of trustees and examiner
As the charity trustees (and also the directors of the company for the purposes of company law) you are
responsible for the preparation of the accounts in accordance with the requirements of the Companies
Act 2006.
Having satisfied myself that the charity is not subject to audit under company law, and is
eligible for independent examination, it is my responsibility to..
examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008.,
follow the procedures laid down in the general Directions given by the Charity Commission for
Northern Ireland under section 65(9){b} of the Charities Act., and
state whether particular matters have come to my attention.
Basis of Independent examinerfs report
I have examined your charity accounts as required under section 65 of the Charities Act and my
examination was carried out in accordance with the general Directions given by the Charity Commission
for Northern Ireland under section 65(9){b) of the Charities Act. The examination included a review of
the accounting records kept by the charity and a comparison of the accounts presented with those
records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking
explanations from you as charity trustees concerning any such matters.
My role is to state whether any material matters have come to my attention giving me cause to
believe..
1. That accounting records were not kept in accordance with section 386 of the Companies Act 2006
2. That the accounts do not accord with those accounting records
3. That the accounts do not comply with the accounting requirements of section 396 of the Companies
Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland
4. That there is further information needed for a proper understanding of the accounts to be reached.

Drake Music Project (Northern Ireland)
Company Limited by Guarantee
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DRAKE MUSIC
PROJECT (NORTHERN IRELAND)
Year ended 31 March 2024
Independent examiner's statement
I have completed my examination and have no concerns in respect of the matters {1) to (4) listed above
and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have
found no matters that require drawing to your attention.
John Marshall F. C.A
MJM MCLOUGHLIN LLP
Chartered Accountants
54 LISBURN ROAD
BELFAST
BT9 6AF
1011012024

Drake Music Project (Northern Ireland)
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
31 March 2024
2024
Restricted
funds Total funds Total funds
2023
Unrestricted
funds
Note
Income and grants
Donations and grants
Total Income
15,309
97,848
113,157
113,157
169,065
15,309
97,848
169,065
Expenditure
Expenditure on charitable activities
Total expendlture
2,676
2,676
149,172
149,172
151,848
151,848
141,620
141,620
Net income and net movement in funds
12,633
(51,324)
(38,691)
27,445
Reconciliation of funds
Total funds brought forward
Total funds carried forwar(I
37,373
50,006
64,003
101,376
73,931
12,679
62,685
101,376
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 8 to 14 fomi part of these flnancial statements.

Drake Music Project (Northern Ireland)
Company Limited by Guarantee
Statement of Flnancial Position
31 March 2024
2024
2023
Flxed assets
Tangible fixed assets
10
19,238
28,856
Current assets
Debtors
Cash at bank and in hand
7,500
52,692
60,192
89,125
89,125
Creditors: amounts falllng due wlthin one year
Net current (Ilabilltles) lassets
Total assets less current liabllltles
11
{16,745)
(16,605)
72,521
101,376
43,447
62,686
62,685
Net assets
101,376
Funds of the charlty
Restricted funds
Unrestricted funds
12,679
50,006
84.003
37,373
Total charlty funds
13
62,685
101,376
For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477
of the Companies Act 2006 relating to small companies.
Trustees, responsibilities:
The members have not required the charity to obtain an audit of its financial statements for the
year in question in accordance with section 476;
The trustees acknowledge their responsibilities for complying with the requirements (>f the Act with
respect to accounting records and the preparation of financial statements.
These financlal statements were approved by the board of trustees and authorised foi. issue on 10
October 2024, and are slgned on behalf of the board by..
Mr l Boylan
Trustee
Tho note8 on pages 8 to 14 form part of these flnancial Statements.

Drake Music Project (Northern Ireland)
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
General information
The charity is a private company limited by guarantee, registered in Northern Ireland and a
registered charity in Northern Ireland. The address of the registered office is Unit sc RDC Win
Business Park, Canal Quay, Newry, County Down, BT35 7EE, N. Ireland.
statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (Charities
SORP (FRS 102)) and the Charities Act (Northern Ireland) 2008.
Accountlng policies
Basls of preparation
The financial statements have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities and investment properties measured at fair
value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to 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 circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the
charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or
commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through
the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or endowment
funds.

Drake Music Project (Northern Ireland)
Company Limited by Guarantee
Notes to the Financial Statements {contlnued)
Year ended 31 March 2024
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has
passed to the charity., it is probable that the economic benefits associated with the transaction will
flow to the charity and the amount can be reliably measured. The following specific policies are
applied to particular categories of income..
income from donations or grants is recognised when there is evidence of entitlement to the
gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is
impractical to measure reliably, in which case the value is derived from the cost to the donor
or the estimated resale value. Donated facilities and services are recognised in the accounts
when received if the value can be reliably measured. No amounts are included for the
contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the
contracted service. This is classified as unrestricted funds unless there is a contractual
requirement for it to be spent on a particular purpose and returned if unspent, in which case
it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered, and is classified under headings of the statement of financial
activities to which it relates..
expenditure on raising funds includes the costs of all fundraising activities, events, non-
charitable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking
activities that further its charitable aims for the benefit of its beneficiaries, including those
support costs and costs relating to the governance of the charity apportioned to charitable
activities.
other expenditure includes all expenditure that is neither related to raising funds for the charity
nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resour￿. Direct costs
altributable to a single activity are allocated directly to that activity. Shared costs are apportioned
between the activities they wntribute to on a reasonable, justifiable and consistent basis.

Drake Music Project (Northern Ireland)
Company Limited by Guarantee
Notes to the Financial Statements (contlnuedj
Year ended 31 March 2024
Tanglble assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value,
over the useful economic life of that asset as follows..
Equipment
Fixtures & fittings
330/0 reducing balance
33 % reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable
amount being estimated where such indicators exist. Where the carrying value exceeds the
recoverable amounl, the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount
of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit
to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets
that includes the asset and generates cash inflows that largely independent of the cash inflows
from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the
acquisition date, allocated to each of the cash-generating units that are expected to benefit from
the synergies of the combination, irrespective of whether other assets or liabilities of the charity
are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the
contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including
any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration
expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly 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 impairment.
10-

Drake Music Project (Northern Ireland)
Company Limited by Guarantee
Notes to the Financial Statements (conllnued)
Year ended 31 March 2024
Deflned contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which
the related service is provided. Prepaid contributions are recognised as an asset to the extent that
the prepayment will lead to a reduction in future payments or a cash refund.
Vvhen contributions are not expected to be settled wholly within 12 months of the end of the
reporting date in which the employees render the related service, the liability is measured on a
discounted present value basis. The unwinding of the discount is recognised as an expense in the
period in which it arises.
Limited by guarantee
The company is limited by guarantee not having a share capital.
Donations and legacies
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Grants
Arts Council N.1
52,648
52,648
Trust and Foundation
BBC CNN
Community Fund
Radcliff Trust
37,700
3,500
4,000
37,700
3,500
4,000
Other donations
Service fees
15,309
15,309
15,309
97,848
113,157
11

Drake Music Project (Northern Ireland)
Company Limited by Guarantee
Notes to the Financial Statements (Contlnued)
Year ended 31 March 2024
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Grants
Arts Council N.1
Trust and Foundation
51,224
58,060
51,224
58,060
Other donations and legacles
Service fees
Arnold Clarke Auto
Hays Travel
Ironmongers
Halifax Foundation
Rix Thompson
Garfield Weston
The D'oyly Cart
Ulster Garden Village
stafford Trust
11,866
11,866
1,000
6,000
4,190
7,800
7,000
10,000
3,000
3,925
5,000
1,000
6,000
4,190
7,800
7,000
10,000
3,000
3,925
5,000
11,866
157,199
169,065
Charitable activities costs
Unrestricted Restricted Total Funds Total Funds
Funds
Funds
2024
2023
i Support Costs
Postage & Stationery
Wages and salaries
Sundry costs
Pension costs
Bank charges
Rent & rates
Light & heat
Repairs & maintenance
Insurance
Travel & subsistence
Telephone
Governance costs
Computer requisites
Depreciation
li Direct Costs
Professional tutors
Fundraising costs
469
49,397
154
4,482
332
18,010
295
700
2,560
56,750
56,750
5,572
5,572
266
18,774
595
576
2,823
2,182
193
2,410
952
9,618
266
18,774
595
576
2,823
2,182
193
219
3,436
147
14.427
2,410
952
9,618
46,448
4,689
46,448
4,689
151,848
39,605
7,387
2,676
149,172
141,620
12-

Drake Music Project (Northern Ireland)
Company Limited by Guarantee
Notes to the Financial Statements (contlnued)
Year ended 31 March 2024
Net income
Net income is stated after chargingl(crediting}-
2024
2023
Depreciation of tangible fixed assets
9,618
14,427
Staff costs
The totsl staff costs and employee benefits for the reporting period are analysed as follows..
2024
2023
Wages and salaries
Employer contributions to pension plans
56,750
5.572
49,397
4,482
62,322
53,879
The average head count of employees during the year was 1 (2023.. 1). The average number of
full-time equivalent employees during the year is analysed as follows:
2024
No.
2023
No.
Number of staff - Administration & management
No employee received employee benefits of more than £60,000 during the year {2023'. Nil).
Trustee remuneration and expenses
No trustees of the charity received any remuneration during the year ended 31.03.24 (2023.. Nil)
10. Tangible fixed assets
Fixtures and
fittings
Equipment
Total
Cost
At 1 April 2023
Additions
51,043
299,271
350,314
At 31 March 2024
51,043
299,271
350,314
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
43,540
2,501
277,918
7,117
321,458
9,618
46,041
285,035
331,076
Net Book Value
At 31 March 2024
5,002
14,236
19,238
At 31 March 2023
7,503
21,353
28,856
13-

Drake Music Project (Northern Ireland)
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
11. Creditors: amounts falling due within one year
2024
2023
Accruals and deferred income
Social security and other taxes
Other Creditors
12,917
2,806
1,022
14,957
1,614
34
16,745
16,605
12. Pensions and other post-retirement beneflts
Defined contributlon plans
The amount recognised in income or expenditure as an expense in relation to defined contribution
plans was £ £5,572 (2023.. £4.482).
13. Analysis of charitable funds
Unrestricted funds
At
1 April 2023
At31
March 2024
Income Expenditure
Unrestricted Fund - General activities
37,373
15,309
{2,676)
50,006
Restricted funds
At
ril 2023
Income
Expenditure
At31
March 2024
Restricted Fund 1 Music
Pro-ects
64,003
97,848
{149,172)
12,679
Net assets
64,003
97,848
149,172
12,679
14. Analysis of net assets between funds
Unrestricted
Funds
Restricted Totsl Funds
Funds
2024
Fixed Assets
Net Current AssetslLiabilities
19,237
16,5581
12,679
19,237
43,448
50,006
Net assets
50,006
62,685
15. Financial instruments
The company did not enter into any transactions that required disclosure under the Financial
Instruments regulations.
14-

Drake Music Project (Northern Ireland)
Company Limited by Guarantee
Notes to the Financial Statements (contlnued)
Year ended 31 March 2024
16.
Reserves Policy
The company maintains a separate contingency reserve of £15,000 within the Unrestricted
Fund Balance to mitigate any future contingencies that may crystalize. This amount is held
In a separate bank account.
15-