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← The Points Family Trust

2025-04-05-accounts

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Charity registration number 1174432

THE POINTS FAMILY TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

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THE POINTS FAMILY TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr Jonathan Points
Mr Francis Sullivan
Ms Natalie Yong
Charity number 1174432
Company number CE012068
Principal address 28 Portland Road
London
W11 4LG
Independent examiner David Terry FCA
Ramon Lee Ltd
Chartered Accountants
93 Tabernacle Street
London
EC2A 4BA
Bankers Investec Wealth & Investment Limited
(Banker and investment manager)
The Plaza, 100 Old Hall Street
Liverpool
L3 9AB

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THE POINTS FAMILY TRUST

CONTENTS

Page
Trustees' report 1 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 14

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THE POINTS FAMILY TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2025

The trustees present their annual report and financial statements for the year ended 5 April 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Constitution, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and "Accounting and Reporting by 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 (FRS 102)" (effective 1 January 2019).

Objectives and activities

The Charitable Incorporated Organisation was formed to provide grants and donations for such charitable purposes, for the public benefit, that are exclusively charitable according to the laws of England and Wales as the Trustees may from time to time determine.

The charity carried out the objectives noted above through the award of grants to help the various organisations.

GRANT MAKING POLICY

The number of projects which can be supported is, of necessity, limited to the amount of funds available for distribution in any year. The Trustees have determined that the priorities for funding over the next year, which are laid out at below.

Applications are considered from organisations which further the charitable purposes in the fields of:

Principles

In awarding funding, the Trustees apply the following principles:

Applications from organisations furthering purposes as laid out in above will be given priority.

All applications from previous recipients of funding or from previously unsuccessful applicants will be considered by the Trustees on their own merits. Although the Trustees will have regard to the outcome of the previous grant, any new application will in no way receive preferential or adverse consideration.

Assessment process

All funding applications are subject to initial assessment to ensure they meet the basic criteria for funding.

Initial applications are screened at a trustees’ meeting and a final decision will also take place at a meeting of the trustees.

Monitoring and Publication

It is the policy of the trustees to monitor all funding made. Evidence will be required to confirm the funds have been used in accordance with the purpose of the funding.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

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THE POINTS FAMILY TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

Achievements and performance

During the year the charity made grant awards totalling £63,487 (2024 - £40,400). The grants were awarded to six (2024 – four) charitable organisations in the fields of medicine, environmental protection, conservation and hardship. Full details can be found in Note 4 to the Financial Statements.

Public benefit statement

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity’ (PD2). The achievements and activities above demonstrate the public benefit arising through the Charity’s activities.

Financial review

The net deficit for the year amounted to £90,755 (2024 – net surplus £98,439) and total reserves stand at £846,532 (2024 - £937,287).

INVESTMENT POWERS AND POLICY

The Constitution authorises the Trustees to make and hold investments. The Trustees have the power to invest in any way that they see fit.

The investment holdings are maintained through a portfolio of stocks and cash, managed by recognised investment managers.

The broad guidelines agreed by the Board for the investment aims of the funds were as follows:

“Investments will be looked at carefully with an emphasis on quality and value so as to minimise the fall in the portfolio’s value in the event of another significant market downturn."

RESERVES POLICY

At the balance sheet date, the charity had retained unrestricted funds totalling £846,532 (2024 - £937,287).

It is the policy of the Trustees to attempt to maintain reserves at, or close to, their current levels so that sufficient investment income may be derived in order to finance the award of grants. The maintenance of such significant reserves represents the Trustees’ aims of long-term operations through the continued receipt of reasonable levels of investment income to finance grant awards, whilst maintaining a hedge against possible future decreases in the market value of investments.

Plans for future periods

The Trustees plan to continue the charity’s activities so that it operates on a similar basis to which it has operated to this point.

Structure, governance and management

Governing Document

The organisation is a Charitable Incorporated Organisation, established on 30th August 2017 and registered as a charity with the Charity Commission. The organisation is governed by a constitution which sets out the objects and powers of the charity and governs the actions of the Trustees.

Recruitment and Appointment of Trustees

Apart from the first charity trustees, every trustee must be appointed for a term of 3 years by a resolution passed at a properly convened meeting of the charity trustees.

In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.

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THE POINTS FAMILY TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

Trustees Induction and Training

The charity trustees will make available to each new charity trustee, on or before his or her first appointment: (a) a copy of the current version of this constitution; and

Organisation

The Board of Trustees, which comprises three members, administers the charity. The Board meets quarterly to review the affairs of the charity and to consider grant applications which are only paid to a beneficiary upon the approval of the Board. One of the Trustees deals with correspondence and day to day administrative affairs. All decisions relating to strategy and policy are made by the Board of Trustees.

Risk management

The Trustees have a risk management strategy which comprises:

The review has identified only minor risks primarily relating to investment exposure. Investment risk is minimised by the maintenance of a balanced portfolio in relatively low risk holdings. A key element in the management of financial risk is the setting of a reserves policy and its regular review by the Trustees.

Related parties

The charity does not have relationships with related parties and other charities and organisations with which it cooperates in pursuit of its charitable objectives.

During the year the charity gave a grant to The Whitley Fund for Nature. One of the Points Family Trust trustees, Mr. Francis Sullivan is also a trustee of The Whitley Fund for Nature. Mr. Sullivan was not involved in the assessment of the grant application or the decision-making process relating to this grant.

During the year the charity gave a grant to the Biji Alam. One of the Points Family Trust trustees, Natalie Yong is a chair person of Biji Alam. Natalie was not involved in the assessment of the grant application or the decision-making process relating to this grant.

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THE POINTS FAMILY TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

Statement of trustees' responsibilities

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees' report was approved by the Board of Trustees and were signed on their behalf by:

Jonathan Points Trustee

5 December 2025

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THE POINTS FAMILY TRUST

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE POINTS FAMILY TRUST

I report to the trustees on my examination of the financial statements of The Points Family Trust (the charity) for the year ended 5 April 2025.

This report is made solely to the charity's trustees, as a body, in accordance with the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my Independent Examination, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

David Terry FCA

Ramon Lee Ltd

Chartered Accountants 93 Tabernacle Street London EC2A 4BA

Dated: 5 December 2025

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THE POINTS FAMILY TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 5 APRIL 2025

Unrestricted
funds
Notes
£
Income from:
Investments
3
11,166
Total income
11,166
Expenditure on:
Charitable activities
4
69,816
Total charitable expenditure
69,816
Net income and net movement in funds before gains and losses on
investments
(58,650)
Net gains/(losses) on investments
8
(32,105)
Net (expenditure)/income for the year/
Net movement in funds
(90,755)
Fund balances at 6 April 2024
937,287
Fund balances at 5 April 2025
846,532		 Total
2025
£
11,166
11,166
69,816
69,816
(58,650)
(32,105)
(90,755)
937,287
846,532		 Total
2024
£
8,966
8,966
47,070
47,070
(38,104)
136,543
98,439
838,848
937,287

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 form part of these financial statements.

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THE POINTS FAMILY TRUST

BALANCE SHEET

AS AT 5 APRIL 2025

2025 2024
Notes £ £ £ £
Fixed assets
Investments 9 845,671 930,007
845,671 930,007
Current assets
Cash at bank and in hand 3,129 9,440
Creditors: amounts falling due within
one year 10 (2,268) (2,160)
Net current assets 861 7,280
Total assets less current liabilities 846,532 937,287
Income funds
Unrestricted funds 846,532 937,287
846,532 937,287

The notes on pages 8 to 14 form part of these financial statements.

The financial statements were approved by the Trustees on 5 December 2025 and were signed on their behalf by

Jonathan Points 76FDB667A9314D5... Natalie Yong DCO8E699F9334E2... Trustee Trustee

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THE POINTS FAMILY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

1 Accounting policies

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's constitution, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by 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 (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

The charity’s Financial Statements show net deficit of £90,755 (2024 - net surplus of £98,439) for the year and free reserves of £846,532 (2024 - £937,287). The trustees are of the view that these results have secured the immediate future of the charity for the next 12 to 18 months and on this basis the charity is a going concern.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Unrestricted funds include a revaluation reserve representing the restatement of investment assets at market value.

1.4 Income

Income is recognised when the Charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and amount can be measured reliably.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

Expenditure on charitable activities comprises the making of grants to other charities. Grants are recognised as a cost when the Board of Trustees approve the grant and the decision is communicated to the recipient.

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THE POINTS FAMILY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

1 Accounting policies

(Continued)

Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs and governance costs which support the charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The basis on which support costs have been allocated are set out in note 5.

1.6 Fixed asset investments

Investments comprise assets held to generate future income and include cash balances. All investments assets are shown on the balance sheet at market value at the balance sheet date. The market value has been determined by the Independent Investment Portfolio Managers. Realised gains and losses arising on the revaluation of investment assets are included in the Statement of Financial Activities.

The Charity does not acquire put options, derivatives or other complex financial instruments.

The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.9 Taxation

The Charity is a registered charity and, therefore, is not liable for Income Tax or Corporation Tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

1.10 Creditors and Provisions

Creditors and provisions are recognised when the charity has a legal or constructive present obligation as a result of a past event, it is probable that the charity will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in net income/(expenditure) in the period in which it arises.

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THE POINTS FAMILY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

1 Accounting policies

(Continued)

1.11 Realised / unrealised gains and losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

1.12 Value added tax

Value Added Tax is not recoverable by the charity, and, as such, is included in the relevant costs in the Statement of Financial Activities.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Investments

Unrestricted
funds
£
Dividend received
8,031
Interest received
3,135
11,166
For the year ended 5 April 2024
8,966		 Total
2025
£
8,031
3,135
11,166		 Total
2024
£
6,015
2,951
8,966
8,966

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THE POINTS FAMILY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

4 Charitable activities

Medical
Environmental
protection
Conser-
vation
Hardship
£
£
£
£
Grants paid
Whitley Fund for Nature
-
22,000
-
-
Save the Elephants
-
-
16,000
-
Crosslight Advice
-
-
-
6,000
Bags of taste
-
-
-
5,500
CVC Music Foundation
-
-
-
-
Biji alam
-
10,608
-
-
SAIDIA
-
-
-
-
-
32,608
16,000
11,500
Share of support costs (see note 5)
-
2,086
1,022
736
Share of governance costs (see note 5)
-
1,165
573
410
-
35,859
17,595
12,646
Analysis by fund
Unrestricted funds
-
35,859
17,595
12,646
-
35,859
17,595
12,646
For the year ended 5 April 2024
Unrestricted funds
466
23,302
17,477
5,825
466
23,302
17,477
5,825		 Arts
£
-
-
-
-
3,379
-
3,379
217
120
3,716
3,716
3,716
-
-		 Total
2025
£
22,000
16,000
6,000
5,500
3,379
10,608
-
63,487
4,061
2,268
69,816
69,816
69,816		 Total
2024
£
20,000
15,000
5,000
-
-
-
400
40,400
4,510
2,160
47,070
47,070
47,070
47,070
47,070

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THE POINTS FAMILY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

5 ANALYSIS OF SUPPORT AND GOVENANCE COSTS

The charity initially identifies the costs of its support functions. It then identifies those costs which relate to the governance function. Governance costs and other support costs are apportioned separately between charity’s activities undertaken in the year on the basis of direct costs.

6 Investment/bank charges
Independent examiner's fees
Analysed between
Charitable activities
Net movement in funds
Independent examiner's fees
Independent examination fees
Other Services		 Support Governance
costs
costs
£
£
4,061
-
-
2,268
4,061
2,268
4,061
2,268
4,061
2,268		 Total
2025
£
4,061
2,268
6,329
6,329
6,329
2025
£
1,500
768
2,268		 Total
2024
£
4,510
2,160
6,670
6,670
6,670
2024
£
1,560
600
2,160

7 Trustees

No remuneration was paid to Trustees during the year (2024 – Nil).

No Trustees were reimbursed any expenses during the year (2024 – Nil).

8 Net gains/(losses) on investments

Unrestricted
funds
£
Realised gain/(loss) on sale of investment
482
Unrealised gain/(loss) on year end valuation
(32,587)
(32,105)		 Total
2025
£
482
(32,587)
(32,105)		 Total
2024
£
(12,758)
149,301
136,543

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THE POINTS FAMILY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

9 Fixed asset investments

Listed Cash in Total
investments portfolio
£ £
Cost or valuation
At 6 April 2024 917,428 12,579 930,007
Additions 205,538 - 205,538
Disposals (249,857) (7,905) (257,762)
Accrued Interest (7) - (7)
Realised gain / (loss) 482 - 482
Unrealised gain / (loss) (32,587) - (32,587)
At 5 April 2025 840,997 4,674 845,671
Carrying amount
At 05 April 2025 840,997 4,674 845,671
At 05 April 2024 917,428 12,579 930,007
Historic cost - 712,211
Total
2025
All of the above investments are allocated as follows:
Investments at fair value comprises:
UK fixed interest 55,707
Overseas Fixed Interest 54,911
UK equities 46,190
Overseas equities 622,870
Alternative Assets 39,633
Other Alternative Assets 21,642
Cash 4,674
Accrued Interest 44
845,671

10 Creditors: amounts falling due within one year

Accruals 2025
£
2,268
2,268		 2024
£
2,160
2,160

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THE POINTS FAMILY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

11 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted
funds
£
Fund balances at 5 April 2025 are represented by:
Investments
845,671
Current assets/(liabilities)
861
846,532		 Total Unrestricted
2025
funds
£
£
845,671
930,007
861
7,280
846,532
937,287		 Total
2024
£
930,007
7,280
937,287

12 Related party transactions

During the year the charity gave a grant to the Whitley Fund for Nature. One of the Points Family Trust trustees, Mr. Francis Sullivan is also a trustee of The Whitley Fund for Nature. Mr. Sullivan was not involved in the assessment of the grant application or the decision-making process relating to this grant.

During the year the charity gave a grant to the Biji Alam. One of the Points Family Trust trustees, Natalie Yong is a chair person of Biji Alam. Natalie was not involved in the assessment of the grant application or the decision-making process relating to this grant.