This meeting of the King George's Field Charity Board was scheduled to include updates on the King George's Field Trust's finances, a review of proposed fee changes and an update on commercial properties.

King George's Field Trust Finances, activity and governance

The Board was scheduled to receive an update on the Trust's finances.

This included approving the King George’s Field Trust Finance Activity and Governance updates for 2022/23 for submission to the Charity Commission. The report stated that approval was needed for the accounts and report to be submitted to the Charity Commission which is a legal duty for organisations with a turnover of more than £1million.

There was also to be discussion of the Appendix. 1 for King Georges Field Trust Finance Activity and Governance updates which covers the 2024/25 budget.

Finally, the board were to consider a Appendix. 2 for King Georges Field Trust Finance Activity and Governance updates

Review of Fees and Charges

The board was scheduled to review the King Georges Field Trust Review of Fees and Charges 202526 for 2025/26.

This included a discussion of Appendix. 1 for King Georges Field Trust Review of Fees and Charges 202526, and also of Appendix. 3 for King Georges Field Trust Review of Fees and Charges 202526.

Commercial Property Update

The Board was scheduled to receive an update on the Trust's commercial property holdings, as detailed in the report titled King Georges Field Trust update on leases for Commercial and Retail Assets 5 2 190724.

The report stated that the income generated by these properties supports the Charity to maintain park land and amenities for the benefit of Tower Hamlets residents. The report also noted that there were ongoing discussions with an unnamed tenant, referred to as Tenant A, regarding outstanding rent arrears and their lease arrangements.

The report included a proposal from Tenant A to assign their lease and to offset their arrears as part of the proposed lease assignment. Officers advised the board that their decision regarding Tenant A could be seen as unreasonable if the matter goes to court in both the delay in arriving at this decision and the decision itself.

The report also noted that there would be an update on the lease arrangements for Tenant B, and the current position with Tenant C, who had requested to assign their lease.

Finally the report stated that there would be a discussion of the marketing of an arch in Mile End Park, with the outcome to be reported back to the Board at a future meeting to decide on the tenant to be selected.