Why are HTTP proxies able to support protocols like IRC and FTP?

I understand that a SOCKS proxy only establishes a connection at the TCP level while an HTTP proxy interprets traffic at HTTP level. Thus a SOCKS proxy can work for any kind of protocol while an HTTP Proxy can only handle HTTP traffic. But why does an HTTP Proxy like Squid can support protocol like IRC, FTP ? When we use an HTTP Proxy for an IRC or FTP connection, what does specifically happen? Is there any metadata added to the package when it is sent to the proxy over the HTTP protocol?