REGISTERED COMPANY NUMBER: 00845837 (England and Wales)
REGISTERED CHARITY NUMBER: 307039
REPORT OF THE TRUSTEES AIYD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
FOR
WISPERS TRUST LIr*tlTED
Traviss & Co Ltd
Chartered Certified Accountants
Newtown House
38 NeThtoMll Road
Liphook
Hampshire
GU30 7DX

WISPERS TRUST LIMrrED
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 Augllst 2024
Page
Report of the Trustees
I to 3
Independent Examiner's Report
Statement of Financial Activities
Balanc¢ Sheet
Notes to the Financial Statements
8 to 13

WISPERS TRUST LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 Allgust 2024
The I￿steeS who are also directors of the charity for the purposes of the Companies Act 2006, present their report with
the fmancial statements of the charity for the year ended 31 August 2024. The lrnstees have adopted the provisions of
Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to clMrities preparing their
accounts ill accordance with the Flnancial Reporting Standard applicable in the UK and Republic of IrelaTLd (FRS 102)
(effective l January 2019).
The Trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with
the fLnan¢ial Statements of the charity for the year ended 31 August 2024 The Trustees have adopted the provisions of
tbe Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities, issued in March 2005.
OBJECTIVEI S AND ACTIVITIES
Objectives and aims
The Trust is investing its funds in a responsible and infonned manner using the appointed advisors. The Trustees are
pleased to continue to award bursaries during the period and expect to do so.
Slgnificanl activities
The Tnistees awarded totsl bursaries to students in the year of £56,610 compared to £58,721 in the Previous year.
Public benefit
The 'l'rustees review the aims, objectives and activities of the charity in the year. It considers what has been ￿hieved
and the outcomes of their WO￿ over the previous 12 months. This considers tbe succe8s of each key activity and the
benefits they have brougl]t to those groups of people which the charity was forn)ed to help. It helps the TnLSte¢s ensu
that the aims, objectives and activities of the charity remain focused on the stated PUTposes. The Trustees have referred
to guidance contain¢d in the Charity Commission's g¢ncral guidance on public benefit when reviewing th¢ aims and
objectives, and in planning future artAYlties, In particular, the Trustees hdve considered how planned acuvitRes will
contribute to the aims and objectives they have set.
ACHIEVEMENT AND PERFORMANCE
Charltable activities
The Trust has been reviewing procedures and processes that allow applicants to apply for bursaries, In this endeavour
Wispers Trust has received advice and examples of good practice through its membership of the Education TrLLSts'
Forum. It has also consulted the Charity Commission.
Investment performance
The market value of the invesknent portfolio held with Rathbones showed an in¢rease as at 31 August 2024 of £158,039
(2023 reduction £114,359) to £2,312,752. This increase of around 6.5 % is reflectivv of a rnuch stronger period of trade
in tbe markets particularly in the US.Details of the investment movement are set out in note 6 to the flnancial statements.
The rental propety was let for the ￿1] period and as a result renta] income for the year increased to £30,368 fron]
£19,500 in the previoug year.Total propety repairs and maintenance costs in the year arnounted to £5,650 compared
with £35,186 in 2023 when the propety underwent some large scale irnprovements.
Total income from investments and residential propety for the year to 31 August 2024 was £106,929 compared to
£86,854 in the prior year. The breakdown of this 15 Shown in note 2. The net sutplus for the year before the movement
in investment values £13,974 cornpared to a corresponding deficit of £40,518 in 2023.
Investtnent income is shown gross. Costs of managing the portfolio are recorded as expenditure of ￿l8]llg funds. In
August 2024 this totalled £9.907 and in 2023 £9,709. The net invegtsnent income for Rathbones was therefore £66.&17
in 2024 and £57,643 in 2023.
FINANCIAL REVIEW
Principal funding sources
The level of bursaries awarded are based on income from dividends and interest plus investment propety income.
Page I

WISPERS TRUST LIMrrED
REPORT OF TItE TRUSTEES
FOR THE YEAR ENDED 31 August 2024
FINANCIAL REVIEW
Investment policy and objectives
The funds are being invegted with the advice of specialist investment advisors to the Charity sector. At tbe year end the
majority of fijnds held in conservative investments allow the advisors to take a a)nsidered approach to the spread and
type of inYe5tments to generate the expected inGome.
Reserves policy
The charity has minimal financial commitments with no obligations or employees. Therefore the reserves policy is to
have under invest￿ent sufficient fi￿dS to generate incorne to pay bursaries. Bursaries are awarded at the discretion of
the t￿￿tee% and at a level generally to match forecast investment income. Ignoring movettLentg in valuation the trustees
consider a portfolio value of £2,500,000 suffLcient to fund future bursaries.
STRu￿uRE, GOVERNANCE AIYD MANAGEMENT
Governing d(Jcument
The ch￿lty is controlled by its Memorandum and Articles of Association &8 an incorporated charity governed by UK
Company law and The Charity Cornll)ission in England 8J]d Wales. Revised Articles of Association w¢re f]led in
September 2023, replacing the 2009 set. A copy can be obtsined online from Companies House.
Recrufitment and appointment of llew truslees
New Tn￿te¢S are subject to a forn￿1 ind￿tIOn process, which illcludes introductions to their legal obligations under
Charity Law, the relevant Charity Commission's guidance, such as on public benefit, the Charity's governing documents,
the committee structure and decislon-making proccsscs, and rcccnt financial performance of the ¢b&rity, Trustees are
recruited based upon their 5kill.s, sector knowlcdge and experience and may attcnd relevant courses as training to
enhance their knowledge and the undertaking of their role.
REFERENCE AIYD ADMINISTRATIVE DETAILS
Registered Company number
00845837 (England and Wales)
Re£lstered Charlty number
307039
RegFi+itered ()ffice
Newtown Ilouse
38 Newtown Road
Liphook
Hampshire
GU30 7DX
Trustees
L H Beltran Retired H¢ad Master
Mr.4 A Holyo¢ik Retired PrinLipdl
Professor S Forbes Emerims Professor of Music
R Y Beltran Retired Teacher
Mxs R Warnock Teacher and fonner pupil
Independent Examiner
N Roberts FCCA
Traviss & Co Ltd
Chartered Certified Accountants
Newtown House
38 Newtown Road
Liphook
Hatnpshire
GU30 7DX
Page 2

SPERS TRUST L]m￿ED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 August 2024
REFERENCE AND AI)MINISTRATIVE DETAILS
Advi5er5
Rathbones Inveslment Management Ltd
159 New Bond Street
London Wl 9EU
Approved by the Board of Trustees 26 March 2025 and signed on its behalf by:
L H Beltran - Trustee
Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
WISPERS TRUST LIMITED
Independent examiner's report ¢0 the trustees of Wispers Trust Limited ('the Company,)
I report to the charity trustees on llky exsjnination of the accounts of the Company for the year ended 31 August 2024.
Responsibilities and basis of report
As the Charitys trustees of the Company (and also its directors for the purposes of company law) you are responsible for
the preparation of the accoullts in accordance with the requirements of the Companies Act 2006 (Yhe 2006 Act,).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act
and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried
out under Section 145 of the ChaTitie5 Act 2011 (the 2011 Ace). In carying out my examination I have followed the
Directions given by the Clwity COn￿nISsion under S¢clEon 145(5) (b) of the 2011 Act.
Independent ex2miner'$ statement
I have completed my examination. I confirm that no matters have come to tny attention in connection with the
examination giving me cause to believe:
accounting records were not kept in respect of the Company a5 required by Section 386 of the 2006 Act. or
the accounts do not aw)rd with those records" or
the accounts do not cornply with the awounting requirernents of Section 396 of the 2006 Act other than any
requireinellt that the accounts give a tnJ¢ and fair view which is not a nmtter considered as part of an sndependent
examination. or
the acoounts have not been prepared in accordance with the methods and principles of the Statement of
Recon]mended Practice for accounting &id reporting by charities (applicable to charities preparing their accounts
in accordanc¢ with the Tr'inancial Reporting Standard applicable in the UK and Republio of Ireland (bRS 102)).
I have no concerns and have come across no other malleTS in connection with the examination to which attention should
be drawn in this report in order to enable a proper understanding of the accounts to be reached.
N Roberts FCCA
Travi5s & Co Ltd
Chartered Certified Accountants
Newtown House
38 Newtown Road
Liphook
Hampshir¢
GU30 7DX
27 March 2025
Page 4

WISPERS TRUST LIMITED
STATEMENf OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 August 2024
2024
Totsl
lunds
2023
Total
fimds
U]]restricted
fimd
Restricted
fund
Notes
INCOME AI¥D ENDOWMENTS FROM
Investment income
106,929
106,929
86,854
EXPENDITURE ON
tnvestment income costs
20,956
20,956
53,629
ChArfitable activities
Bursaries
Governance
Management
56,666
4,644
10,689
56,666
4,644
10,689
58,721
4.659
10,363
Total
92,955
92,955
127,372
Net gains/(losses) on investments
167,735
167,735
(104,113)
NET INCOMEI(EXPENDITURE)
181,709
181,709
(144,631)
RECONCILIATION OF FUNDS
Total fwids brought fonvard
2084,759
2084,759
3,029,390
TOTAL FUNDS CARRIED FORWARD
3,066,468
3,066,468
2,884,759
Th¢ notes fornk part of these financial statements
Page 5

WISPERS TRUST LIMITED
BALANCE SHEET
31 August 2024
2024
Total
funds
2023
Total
funds
Unrestricted
fLllLd
Restricted
fund
Notes
FtXED ASSETS
Investments
Investments
Investrnent propety
2J12,754
700,000
2,312,754
700,000
2.154.715
700,000
3,012,754
3,012,754
2,854,715
CURRENT ASSETS
Debtors
Cash at bank
14,724
50,170
14,724
50,170
681
38,447
64,894
64,894
39,128
CREDITORS
Amounts fallijjg due within one yeaT
(11,180)
(11,180)
(9,084)
NET CURRENT ASSETS
53,714
53.714
30,044
TOTAL ASSETS LESS CURRENT
LIABLLJTIES
3,060,468
3,066,468
2,884,759
IYET ASSETS
3,066,468
3,066,468
2,884,759
io
UDxestricted funds
3,066,468
2,884,759
TOTAL FUNDS
3,066,468
2,884,759
The chaTitable cornpany is entitled to exemption from audit under Section 477 of the cOmp￿]eS Act 2006 for the year
ended 31 August 2024.
The membeTS have not reqiiired the company to obtain an audit of its finallcial statements for tbe year ended
31 August 2024 in accordance with Section 476 of the Compaiiies Act 2006.
The trustees acknowledge their responsibililies for
(a)
ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the
Companies Act 2006 and
preparing financial statements which give a ttue and fair view of the state of affairs of the charitable company as
at the end of each financial yeas and of its surplus or deficit for each financial year in accordance with the
requirernents of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act
2006 relating to financial statements, so faT as applicable to the charitable collkpany.
(b)
The notes forni part of these f￿ancial statenlents
Page 6
continued.,.

WISPERS TRUST LIMITED
BALANCE SHEET - continued
31 August 2024
These f￿anCIal statements have been p￿pared in accordance with the provisions applicable to charitable companies
subject to the small corllpanies regitne.
The financial statements wcre approved by the Board of Trustees and authoriscd for issue on 26 March 2025 and were
signed on its behalf by:
L H Beltran - Trustee
The notes forni part of these f￿anCial staten]ents
Page 7

WISPERS TRUST LIMITED
NOTES TO THE FINANCIAL STATEMEiYrs
FOR THE YEAR ENDED 31 August 2024
ACCOIJNtING POLICIES
Basis of preparing the financial statemellts
The fmancial statements of the charitable company, which is a public benefit entity wider FRS 102, have been
prepared in accordance the Ch￿itIeS SORP (FRS 102) 'Accounting and Reporting by Charities: Statement
of Recommended Practice applicable to charities preparing their accounts in accordance wAth the Financial
Reporting Standard applicable in the UK and RepLd)lic of Ireland (FRS 102) (effective l January 2019),,
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland, and the Cornpanies Act 2006. The financial siaiements have been prepared under the historical cost
convention, with the exception of investments which are included at market value, as modified by the revaluation
of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the fimds, it
is probable that the income will be received and the amount can be measwed reliably.
Expcndlture
Liabilities are rewgnised as expendilmre as soon as there is a legal or con8ttv¢tive obligation committing the
charity to that expenditure. it is wobable that a transfer of e¢onomi¢ benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is accoullted for on an accrnals basis and has
been classified under headings that ag￿egate all cost related to the category. Where costs cannot be directly
attributed to particular headings they have been allocated to activities on a basis consistent with the use of
resources. All costs are inclusive of VAT.
Grnnt5 offered subject to conditions which have not been met at the year end date are noted as a commitment but
not accru¥d as expenditure.
Alloeation and apportionment of costs
All expendittwe has been charged to unrestricted ftmds,
Investment property
The invesknent propety is shown at the Trustees estirllated Cu￿ent market value.
TasatloD
The charity is exempt from co￿OratIon tax on its charitable activities.
Fuiid aeeounting
Unrestricted fun(Ls can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted PUTposes within the objects of the Charity, Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and pu￿0$¢ of eacb fi￿d is included in the notes to the f]nancial statements.
Page 8
continued...

WISPERS TRUST LIMrrED
NOTES TO THE FINANCIAL STATEMENfs- continued
FOR THE YEAR EIYDED 31 AUg￿st 2024
INVESTMENT INCOME
2024
2023
Rents received
Investment income
Deposit accowit interest
30,368
76,554
19,500
67,352
106,929
86,854
INVESTMENT INCOME COSTS
Investment management eosts
2024
2023
Portfolio management
Professional fees
Investment property insurance
Property repairs & maintenance
Letting charges
Utilities
9907
9,709
2,083
1208
35,186
2,729
2,714
938
5,650
4A61
20,956
53.629
TRUSTEES, REMUNERATION AND BENEFris
There were no trusteeg, remuneration or other benefits for the year ended 3 l August 2024 nor for the year ended
31 August 2023.
Trustees, expenses
Travel costs rein]bursed to the trustees amounted to £66 (2023: £1,814).
COMPARATIVES FOR THE STATEMEIYT OF FINANCIAL ACTIVITIES
Unrestricted
fimd
Restricted
fi￿a
Total
fimds
INCOME AND ENDOWMENTS FROM
Investment income
86,854
86,854
EXPENDITURE ON
Investment income costs
53,629
53,629
Charltable activities
Bursaries
Governance
Management
58,721
4,659
10,363
58,721
4,659
10,363
Total
127,372
127,372
Net gains/(losses) on investments
(104,113)
(104,113)
Page 9
ontinued...

WISPERS TRUST LIMrrED
NCYTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 August 2024
COMPARATIVES FOR THE STATEMEINT OF FINANCIAL ACTIVITIES- continued
Unrestricted
Restricted
fimd
fimd
Total
fi￿dS
ET INCOMEI(IXPENDITURE)
(144,631)
(144,631)
BECOIYCILIATION OF FUNDS
Total funds brought forward
3,029,390
3,029,390
TOTAL FUNDS CARRIED FORWARD
2,884,759
2,884,759
FIXED ASSET INVESTMEI¥TS
Cash and
settlements
pending
Listed
illvesthients
Totsls
MARKFT VALUE
At I September 2023
Additions
Disposals
Revaluation8
2,122,646
483?92
(461,824)
166,101
32,069
2,154,715
540,207
1,023,599
(569,837) (1,031,661)
166,101
At 31 August 2024
20IOJ15
2,439
2?12,754
NET BOOK VALUE
At 31 Augyust 2024
2,310J15
2,439
2J12,754
At 31 August 2023
2,122,646
32,069
2,154,715
The market value of investments held outside the UK was £897,549 (2023: £736,055).
The movement in value of the f￿ed asset investments has been adjusted in the fmancial statements.
INVESTMENT PROPKRTY
FAIR VALUE
At I September 2023
and 31 August 2024
7(Kl,000
IYET BOOK VALUE
At 31 August 2024
700,000
At 31 August 2023
700,000
Page 10
contimied...

WISPERS TRUST LLMITED
NOTES TO THE FINANCIAL STATEMENTS - Continued
FOR THE YEAR EIWED 31 August 2024
DEBTORS: AMOUNTS FALLING DUE WITHtN ONE YEAR
2024
2023
Other debtors
Prepay￿elitS
14,099
625
681
14,724
681
CREDITORS: AMOUNTS FALLING DUE WTfHIN YEAIi
2024
2023
Trade creditors
Other creditors
Accrued expenses
8,078
70
9,014
3,102
11,180
9,084
io.
MOVEMENT IN FUNDS
Net
movement
in funds
At
31.8.24
At 1.9.23
Unrestricted funds
General ftmd
2,884,759
181,709
3,066,468
TOTAL FUNDS
2,884,759
181,709
3,066,468
Net movement in funds, included in the above are as follows:
Incoming
resources
Resources
exp¢nded
Gains and
losses
Movement
in flmds
Unrestricted funds
General fund
106,929
(92,955)
167,735
181,709
TOTAL FUiYDS
106929
(92,955)
167,735
181,709
Pagell
continued...

WISPERS TRUST LIMrrED
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR EIIDED 31 August 2024
10.
MOVEMENT IN FUNDS- continued
Comparatives for movement in funds
Net
movement
in funds
At
31.8.23
At 1.9.22
Unrestricted fund5
General fund
3,029,390
(144,631)
2,884,759
TOTAL FUNDS
3,029,390
(144,631)
2,884,759
Comparative net movement in fiJllds, included in the above are as follows:
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted funds
(ieneral fund
86,854
(127,372)
(104,113)
(144,631)
TOTAL FUNDS
86,854
(127,372)
(104,113)
(144,631)
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
in fund5
At
31.8.24
At 1.9.22
Unrestricted funds
General fL￿d
3,029,390
37,078
3,066,468
TOTAL FUNDS
3,029,390
37,078
3,066,468
A current year 12 months and prior year 12 months combined net movement in fimds, inC￿ded in the above aTe
as follows:
Incoming
resources
Resources
expended
Gain5 and
losses
Movement
in fimds
Unrestrieted funds
General fund
193,783
(220,327)
63,622
37,078
TOTAL FUNDS
193,783
(220,327)
63,622
37,078
Page 12
continued...

WISPERS TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENfs- eontfinued
FOR THE YEAR ENDED 31 August 2024
ii.
RELATED PARTY DISCLOSIJRES
There were no related party transactions for the year ended 31 August 2024.
Page 13