The King George's Field Charity Board approved the 2022/23 audited accounts for submission to the Charity Commission. They also approved proposals for spending a grant from the King George's Fields Stepney Charity, and noted updates on a number of leases of commercial properties in Mile End Park.

King George's Field Trust 2022-23 Audited Accounts

The Board approved the audited accounts for 2022-23 for submission to the Charity Commission. The accounts, which were overdue, showed a revenue deficit for the year of £165,354, resulting in a carry-forward cumulative unrestricted revenue deficit of £107,440. A letter of support from Tower Hamlets Council was provided to the auditors, outlining the Council's willingness to support the charity.

The report identifies the charity's primary income streams as commercial rents generated from shop lettings at Mile End Park and the hire of the Art and Ecology Pavilions. Further income is generated through bookings for the Stepney Green astroturf pitches and the corporate volunteer programme.

King George's Field Trust Investment Programmes

The Board discussed proposals for spending a £265,000 grant from the King George's Fields Stepney Charity which can only be used for the maintenance, equipping and improvement of, or the provision of facilities for, any playing field situated in the London Borough of Tower Hamlets and styled 'King George’s Fields', with a preference to be given to such playing fields situated in Stepney .

The Board were asked to decide on the allocation of funding across four projects: new practice cricket nets at Stepney Green Park, a new refreshment kiosk at the Stepney Green astroturf, the expansion of the existing outdoor gym at Stepney Green Park and match funding towards a new five-a-side pitch at Stepney Green Park.

The Board were asked to also consider the allocation of match funding towards a separate programme to upgrade the hard surface sports courts at Mile End Stadium, 75% of which will be funded from Section 106 / CIL funding.

King George's Field Trust Leases update

The board discussed a number of leasehold properties.

Tenant A , who has outstanding arrears, had submitted a proposal to assign their lease, offsetting some of their arrears against their rental deposit. The Board were asked to approve the proposal.

Tenant B 's lease had previously been discussed at a meeting on 29 May 2024, during which the Board requested additional information regarding the arrangements. Further advice from Legal Services and Asset Management has been provided.

The board considered a request from Tenant C to assign their lease.

The board approved plans to market a currently unused arch near the skate park in Mile End Park for rent, with the aim of increasing the Charity's income. The Board will review bids for the arch at a future meeting.