The King George's Field Charity Board met on Wednesday, 4 March 2026, to discuss financial updates, grant funding, and fees and charges. Key decisions included the approval of the 2023-24 accounts, delegation of authority for final sign-off to the Chair, and agreement to accept grant funding from Fields in Trust.

King George's Field Trust Finance, Activity and Governance Updates

The Board received an update on the King George's Field Trust's financial position, activities, and governance. Ahsan Khan, Chief Accountant, presented the year-end accounts for 2023-24, noting that the audit was substantially complete. The Trust was in an improved financial position, with a reduced cumulative deficit of £52,000, down from £96,000. The Board agreed to delegate the final sign-off of the accounts to the Chair, Mayor Lutfur Rahman, once the partner review was complete. This delegation was sought for expediency, allowing the accounts to be uploaded to the Charities Commission promptly.

Councillor Kabir Ahmed inquired about the duration of the Trust's return to a surplus position. It was clarified that while the Trust made a surplus in the 2023-24 year, there had been previous years of deficit, particularly post-COVID. Historically, the Trust had mostly operated in surplus, with deficits seen in the 2020-21 and 2021-22 accounting periods.

King George's Field Trust Update on Fields in Trust Funding

The Board considered an update on grant funding from Fields in Trust. The indicative grant amount available is £200,265, with the final sum to be determined on the date of transfer due to its link to an investment with Schroder's. The Board agreed to accept this grant funding. A minor discrepancy was noted between the amount stated in the report (£200,265) and a figure of £265,000 mentioned in the report's page numbering. This was explained as an older figure from when the report was initially drafted, with the current market conditions affecting the final amount. The exact grant amount will be reported at the next board meeting.

King George's Field Trust Review of Fees and Charges 2026/27

This item was deferred to the next board meeting.

King George's Field Trust Commercial Property Recommendations and Updates

This item was discussed in an exempt session, meaning details are not publicly available.

Urgent Item: 2023-24 Year-End Accounts

This item, presented as an urgent, non-exempt matter, reiterated the details of the 2023-24 year-end accounts. A supplementary paper was provided containing the draft accounts, which reflected an improvement in the Trust's position by £48,000 due to audit changes. The accounts were pending final review by the auditors, with completion anticipated in March to allow for uploading to the Charities Commission website. The Board agreed to this item, including the delegated authority for the Mayor as Chair to sign off the accounts.

The meeting then moved into an exempt session to discuss further agenda items.