Issue - meetings
King George's Fields Charitable Trust Annual Accounts, 2010/2011 (KGFCB 006/1112)
Meeting: 08/03/2012 - King George's Field Charity Board (Item 4.)
4. King George's Fields Charitable Trust Annual Accounts, 2010/2011 (KGFCB 006/1112) PDF 91 KB
To consider and approve the annual accounts of the King George’s Field Mile End and King George’s Field Tredegar Square charities for the 2010/2011 financial year. To consider also, responses to information requested by members of this Board at the meeting on 23 November, 2011.
Additional documents:
- 4a. King George Field Mile End report 2010_2011 V2, item 4.
PDF 83 KB
- 4b. Mile End Park & KGF Short Version Trust 2010_11, item 4. HTM 1 MB
- 4c. Notes to the financial statements Mile End 2010_11, item 4.
PDF 71 KB
- 4d. King George Field Tredegar Square report 2010_11 V2, item 4.
PDF 77 KB
- 4e. Tredegar Square Bow 2010_11 fin report, item 4. HTM 1 MB
- 4f. Notes to the financial statements Tred Square 2010_11, item 4.
PDF 72 KB
- 4g. Appendix 3 Other Income, item 4.
PDF 26 KB
- 4h. Appendix 4 Other Services Expenditure, item 4.
PDF 28 KB
- 4i. Appendix 5 General Fund Contributions, item 4.
PDF 28 KB
- 4j. Appendix 6 Other Rentals, item 4.
PDF 28 KB
- 4k. Appendix 7 Repairs & Maintenance, item 4.
PDF 29 KB
Meeting: 07/03/2012 - King George's Field Charity Board (Item 4)
4 King George's Fields Charitable Trust Annual Accounts, 2010/2011 (KGFCB 006/1112) PDF 91 KB
To consider and approve the annual accounts of the King George’s Field Mile End and King George’s Field Tredegar Square charities for the 2010/2011 financial year. To consider also, responses to information requested by members of this Board at the meeting on 23 November, 2011.
Additional documents:
- 4a. King George Field Mile End report 2010_2011 V2, item 4
PDF 83 KB
- 4b. Mile End Park & KGF Short Version Trust 2010_11, item 4 HTM 1 MB
- 4c. Notes to the financial statements Mile End 2010_11, item 4
PDF 71 KB
- 4d. King George Field Tredegar Square report 2010_11 V2, item 4
PDF 77 KB
- 4e. Tredegar Square Bow 2010_11 fin report, item 4 HTM 1 MB
- 4f. Notes to the financial statements Tred Square 2010_11, item 4
PDF 72 KB
- 4g. Appendix 3 Other Income, item 4
PDF 26 KB
- 4h. Appendix 4 Other Services Expenditure, item 4
PDF 28 KB
- 4i. Appendix 5 General Fund Contributions, item 4
PDF 28 KB
- 4j. Appendix 6 Other Rentals, item 4
PDF 28 KB
- 4k. Appendix 7 Repairs & Maintenance, item 4
PDF 29 KB
Minutes:
Stephen Adams, Finance & Resources Manager CLC, presented the King George’s Fields Trust annual accounts to the committee.
The report provides details of the annual accounts of the King George’s
Field Mile End and King George’s Field Tredegar Square charities for the
2010/2011 financial year. It also contains information in respect of various
questions that members raised about the annual reports at their previous meeting on 23rd November, 2011.
With regards to the leisure centre contract with GLl and the maintenance of Mile End Park, a member asked about how the cost was calculated.
Michael Rowan, Director of Mile End Park clarified that the information provided in the report (Repairs and Maintenance) is solely to do with ground maintenance and not linked to the GLl contract. He continued that the information does not cover the actual leisure centre itself and proposed bringing back a separate report on Mile End Stadium for the committee.
Action: Michael Rowan, Director of Mile End Park
A member asked whether officers were conceding that bad debts will not be recovered. The Finance and Resources Manager, CLC replied that provision has been made in the account to recover the outstanding amount.
With regards to Mile End stadium, the Mayor suggested that the expenditure should be contained within the income. In response Jill Bell, Head of Legal Services (Environment) stated that this had not been the case in the past but that consideration needed to be given to reflecting the income derived from the Leisure Centre and adjacent facilities which are on Trust Land rather than on the Council subsidising the grounds maintenance She further stated that there will be discussions with the Charity Commission to obtain further guidance.
The Mayor asked officers to undertake further research and provide him with a report.
Action: Jill Bell, Head of Legal Services
A member asked why money can not be spent on other parks, the Head of Legal Services (Environment) informed the committee that the money derived from Trust assets should be ring fenced and not used for other parks but only for Trust purposes. At the moment the council is subsidising, and paying towards ground maintenance. We need to look at income generated from the leisure centre and get to the position that it is self financing.
RESOLVED that
1. The explanations of the composition of the various figures in the annual accounts for King George’s Field, Mile End, as set out in paragraph 3.3 of this report, and in Appendices 3 to 7 be noted.
2. The annual report and accounts for the King George’s Field, Mile
End Charity (registered number 1077859) for the 2010/2011 financial year set out at Appendix 1 be agreed.
3. The annual report and accounts for the King George’s Field Tredegar
Square charity (registered number 1088999) for the 2010/2011 financial year set out at Appendix 2 be agreed; and
4. Authorisation be given to the mayor to sign the annual reports and accounts for submission to the Charity Commission