The King George's Field Charity Board met on Wednesday 4 March 2026, approving updated financial reports and a grant agreement for park improvements. The Board also noted ongoing discussions regarding commercial property leases and deferred a decision on fees and charges.

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. This included noting the submission of the 2022/23 audited accounts and annual report to the Charity Commission, and the progress on the 2023/24 accounts, which were approved subject to a final partner review. The Board also noted the financial forecasts and activity updates for 2024/25 and 2025/26. A key decision was made to authorise a change to the nominated officer contact for the Charity Commission's My Commission Account, enabling access for administrative tasks. This change was necessary as the previous contact, Catherine Boyd, was leaving the Council. Matthew Twohig, Interim Parks Manager, was proposed as the new primary administrator.

The financial position for 2023/24 indicated a forecast surplus of £9,074 for the year, which would reduce the cumulative deficit to £98,366. For 2024/25, a surplus of £28,630 was forecast, further reducing the projected deficit to £69,736. The 2025/26 forecast projected a surplus of £21,257. The Council reiterated its commitment to providing financial support to the Trust to ensure its long-term sustainability, while also working towards a self-funding position.

Activities reported included free-to-access sessions for children, young people, and families across Mile End Park, Whitehorse Adventure Playground, and Stepney Green astroturf. The Stepney Green astroturf facility saw an estimated 55,000 participants between April 2024 and March 2025. The Art and Ecology Pavilions at Mile End Park reported increased private hire bookings, though corporate bookings saw a slight reduction. The report also detailed improvements and upgrades to park infrastructure carried out with the help of corporate volunteers.

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

The Board approved the formal entry into a grant funding agreement with Fields in Trust, enabling the release of funds for park improvement programmes at Mile End Park and Stepney Green Park. The total allocation from Fields in Trust is £265,000. This funding will support several projects, including the creation of practice cricket nets at a King George's Field park, the development of a small refreshment kiosk at Stepney Green, the expansion of the outdoor gym at Stepney Green, and match funding for a new five-a-side astroturf facility at Stepney Green Park. Additionally, funding will contribute to the upgrades of hardcourts at Mile End Stadium. The agreement is expected to conclude by 31 March 2027, with annual reports and financial information to be provided to Fields in Trust.

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

This item was deferred to the next meeting for further review.

King George's Field Trust – Commercial Property Recommendations and Updates

The Board considered an update on lease arrangements for the King George's Field Trust's retail and rental units. The Board noted ongoing discussions with Tenant A regarding outstanding arrears and lease arrangements, and also noted additional information provided regarding the lease arrangements for Tenant B . A lease renewal notice under the Landlord and Tenant Act had been received from Tenant C on behalf of the Trust, and the Board was also informed about rent reviews for arches in Burdett Road. These matters were discussed with the exclusion of the press and public.

2023/24 Year-End Accounts

The Board approved the substantially complete audited accounts for 2023/24, subject to a final partner review by the external auditors. Authority was delegated to the Mayor, as Chair of the Corporate Trust, to approve any immaterial changes following this final review. The Board also approved the 2023/24 annual report for submission to the Charity Commission, with similar delegation for immaterial changes. Approval was also given for the Letter of Representation from Arnold Hill & Co LLP, and the Board noted the requirement for a Letter of Ownership Confirmation from the Mayor of the London Borough of Tower Hamlets and a Letter of Support from the London Borough of Tower Hamlets before the accounts could be signed off by the auditors. The accounts reflected agreed changes with the auditors, showing an improvement in the Trust's position by £42,000, reducing the cumulative deficit from £96,000 to £52,000. The Board noted that the Trust had made a surplus in the year 2023-24, following a deficit in the previous accounting period.