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← West Ham Park

2025-03-31-accounts

West Ham Park

Annual Report and Financial Statements for the year ended 31 March 2025

Charity registration number 206948

West Ham Park | Annual Report and Financial Statements 2024/25

CONTENTS

ORIGINS OF THE CHARITY ................................................................. 1 STRUCTURE AND GOVERNANCE ....................................................... 2 ACHIEVEMENTS AND PERFORMANCE .............................................. 6 FINANCIAL REVIEW .............................................................................. 8 TRUSTEE’S RESPONSIBILITIES ........................................................ 11 INDEPENDENT AUDITOR’S REPORT ................................................ 12 STATEMENT OF FINANCIAL ACTIVITIES .......................................... 15 BALANCE SHEET ................................................................................ 16 NOTES TO THE FINANCIAL STATEMENTS ....................................... 17 REFERENCE AND ADMINISTRATION DETAILS ................................ 28

West Ham Park | Annual Report and Financial Statements 2024/25

ORIGINS OF THE CHARITY

West Ham Park was purchased in 1874 from Mr John Gurney. The conveyance to the City of London Corporation provided that it was to be held on trust forever “as open public grounds and gardens for the resort and recreation of adults and as playgrounds for children and youth”. The City of London Corporation agreed to maintain and preserve the Park for this purpose at its own cost. The Park is managed by a joint committee of 15 managers, eight of whom are appointed by the City of London Corporation, four by the heirs of the late John Gurney, one by the Parish of West Ham and two by the London Borough of Newham. The Park is listed in Historic England’s Register of Historic Parks & Gardens (Grade II).

This charity is operated as part of the City of London Corporation’s City’s Estate. The City of London Corporation funds the ongoing net operational costs of the charity in accordance with the purpose which is to maintain and preserve the Park “as open public grounds and gardens for the resort and recreation of adults and as playgrounds for children and youth”.

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West Ham Park | Annual Report and Financial Statements 2024/25

TRUSTEE’S ANNUAL REPORT

STRUCTURE AND GOVERNANCE

GOVERNING DOCUMENTS

The governing documents are the indenture Acts dated 20 July 1874 and the schemes approved by the Charity Commission on 12 May 1981 and 27 September 1991. The charity is constituted as a charitable trust.

GOVERNANCE ARRANGEMENTS

The Mayor and Commonalty and Citizens of the City of London (also referred to as ‘the City Corporation’ or ‘the City of London Corporation’), a body corporate and politic, is the trustee of West Ham Park. The City Corporation is trustee acting by the Court of Common Council of the City of London in its general corporate capacity and that executive body has delegated responsibility in respect of the administration and management of this charity to various committees and sub-committees of the Common Council, membership of which is drawn from 125 elected Members of the Common Council and external appointees. In making appointments to committees, the Court of Common Council will take into consideration any particular expertise and knowledge of the elected Members, and where relevant, external appointees. External appointments are made after due advertisement and rigorous selection to fill gaps in skills. For West Ham Park, elected Aldermen and Members of the City of London Corporation, together with four members nominated by the heir-at-law of the late John Gurney, two members nominated by the London Borough of Newham and one member nominated by the Parish of West Ham, are appointed to the West Ham Park Committee governing West Ham Park by the Court of Common Council of the City of London Corporation.

Members of the Court of Common Council are elected by the electorate of the City of London. The Key Committees which had responsibility for directly managing matters related to the charity during 2023/24 were as follows:

All the above committees are ultimately responsible to the Court of Common Council of the City of London. Committee meetings are held in public, enabling the decision-making

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West Ham Park | Annual Report and Financial Statements 2024/25

process to be clear, transparent, and publicly accountable. Details of the membership of Committees of the City Corporation are available at www.cityoflondon.gov.uk.

The charity is consolidated within City’s Estate as the City of London Corporation exercises operational control over their activities. City’s Estate is a fund of the City Corporation that can be traced back to the 15[th] century and has been built up from a combination of properties, land, bequests and transfers under statute since that time. Investments in properties, stocks and shares are managed to provide a total return that:

The trustee believes that good governance is fundamental to the success of the charity. A comprehensive review of governance is ongoing to ensure that the charity is effective in fulfilling its objectives. Reference is being made to the good practices recommended within the Charity Governance Code throughout this review. Focus is being placed on ensuring regulatory compliance and the ongoing maintenance of an efficient and effective portfolio of charities that maximise impact for beneficiaries.

ORGANISATIONAL STRUCTURE AND DECISION-MAKING PROCESS

The charity is administered in accordance with its governing instruments and the City Corporation’s own corporate governance and administration framework, including Committee Terms of Reference, Standing Orders, Financial Regulations and Officer Scheme of Delegations. These governance documents can be obtained via a request to the email address stated on page 28.

Each Member, by virtue of their membership of the Court of Common Council, its relevant committees and sub-committees, has a duty to support the City Corporation in the proper exercise of its functions and in meeting its duties as trustee of the charity by faithfully acting in accordance with charity law, the Terms of Reference of the relevant committee or sub-committee, and the City of Corporation’s agreed corporate governance framework as noted above, backed up by its standards regime.

As part of the City of London Corporation’s restructure, the former Open Spaces Department merged with Planning and Transportation and Port Health and Environmental Services to form a new Environment Department; West Ham Park became part of the Environment Department from 1 April 2022.

INDUCTION AND TRAINING OF MEMBERS

The City Corporation makes available to its Members, seminars and briefings on various aspects of its activities, including those concerning the charity, to enable Members to carry out their duties efficiently and effectively. Induction meetings are provided on specific aspects of the work of West Ham Park. If suitable seminars or other training options are identified that are relevant to the charity, Members are advised of these opportunities.

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West Ham Park | Annual Report and Financial Statements 2024/25

OBJECTIVES AND ACTIVITIES

The objectives of the charity are to hold West Ham Park on trust forever “as open public grounds and gardens for the resort and recreation for adults and as playground for children and youth”. The City of London Corporation agreed to maintain and preserve the Park for this purpose at its own cost.

In support of these objectives, the main activities of the charity are set out in the West Ham Park Management Plan, and include the maintenance of grounds, gardens, infrastructure and play equipment, specifically the lawns, trees, plants, structures and hard landscaping that make up this 19[th] century traditional park environment.

Volunteers

The charity works closely with the Friends of West Ham Park who deliver numerous walks, talks and events throughout the year. They also run a ‘Jubilee Vegetable Garden’, wildlife garden and undertake organised litter-picks throughout the calendar year.

Volunteer hours for 2024/25 were estimated to be about 1650 hours, by 516 attendees over this period: this figure includes corporate volunteers in partnership with the East London Business Alliance (ELBA).

Remuneration Policy

The charity’s senior staff are employees of the City Corporation and, alongside all staff, pay is reviewed annually. The City Corporation is committed to attracting, recruiting and retaining skilled people and rewarding employees fairly for their contribution. As part of this commitment, staff are regularly appraised and, subject to performance, may be eligible for the payment of recognition awards.

The above policy applies to staff within the charity’s key management personnel, as defined within note 9 to the financial statements.

The charity is committed to equal opportunities for all employees. An Equality, Diversity and Inclusion Sub-Committee has been established to actively promote equality, diversity and inclusion in service delivery and employment practices. The sub-committee is responsible for monitoring the delivery of the Equality and Inclusion Action Plan and progress against the Equality Objectives. This also includes addressing the City Corporation’s gender, ethnicity and disability pay gaps.

Our Equality Objectives 2024-2029 have recently been published and are positioned as a dynamic crosscutting framework for advancing and integrating the City Corporation’s commitment to equity, equality, diversity and inclusion as a leader, employer, and service provider. They are collectively owned across all departments and institutions.

Senior staff posts of the City Corporation are individually evaluated and assessed independently against the external market allowing each post to be allocated an individual salary range within the relevant grade, which incorporates market factors as well as corporate importance.

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West Ham Park | Annual Report and Financial Statements 2024/25

Fundraising

Section 162a of the Charities Act 2011 requires charities to make a statement regarding fundraising activities. The legislation defines fundraising as “soliciting or otherwise procuring money or other property for charitable purposes”. Although the West Ham Park charity does not undertake widespread fundraising from the general public, any such amounts receivable are presented in the financial statements as “voluntary income” including grants.

In relation to the above we confirm that all solicitations are managed internally, without involvement of commercial participators or professional fund-raisers, or third parties. The day-to-day management of all income generation is delegated to the executive team, who are accountable to the trustee. The charity is not bound by any regulatory scheme and does not consider it necessary to comply with any voluntary code of practice.

In December 2020, a donations page was added to the West Ham Park internet pages, inviting and enabling the public to make on-line donations to the West Ham Park Playground Refurbishment campaign. Individuals are not approached for funds.

The charity has received no complaints in relation to fundraising activities in 2024/25 (2023/24: nil).

Public benefit statement

The trustee confirms that it has referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing West Ham Park aims and objectives and in planning future activities. The purpose of the charity is to maintain and preserve the Park in perpetuity by the City of London Corporation as the Conservators of West Ham Park “as open public grounds and gardens for the resort and recreation of adults and as playgrounds for children and youth.

Consequently, the Trustee considers that West Ham Park operates to benefit the general public and satisfies the public benefit test.

REFERENCE AND ADMINISTRATIVE DETAILS

The administrative details of the charity are stated on page 28.

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West Ham Park | Annual Report and Financial Statements 2024/25

ACHIEVEMENTS AND PERFORMANCE

Key Targets for 2024/25 and review of achievement

WHP 150th Event – deliver a comprehensive programme of events to celebrate the park’s 150th anniversary.

The West Ham Park 150th anniversary event took place on 20 and 21 July 2024, with a varied programme of entertainment, workshops and sporting and wellbeing activities. An outdoor exhibition consisting of seven ‘monoliths’ was commissioned to celebrate the Park. With the title of ‘World in a Park’ the exhibition focused on diversity, history and the community who love West Ham Park. The weekend's events were considered a success, and plans are in place for future summer events at the Park.

Continue with required tree works - review existing contracts for tree surveys and tree works to ensure best practice and efficiency of operation.

These works are ongoing in the Park, as part of its continual management. The teams worked together in continuance of this work at West Ham Park.

Complete a renewal of the West Ham Management Plan

Officers worked with external consultants on the development of the new 10-year management plan for the Park, consulting with local groups and stakeholders. This was accepted by committee earlier this year and outlines the short-, medium- and long-term objectives at West Ham Park.

Maintain Green Flag and Green Heritage Awards

West Ham Park retained Green Flag Award in 2024/25 and has done so for around 20 years thanks to the dedicated staff and volunteers; unfortunately, Green Heritage Award was not successful in 2024/25.

Work with colleagues to support development of the Income Generation Strategy with respect to Natural Environment Division, North London Open Spaces and West Ham Park.

Income-generating events and activities have been identified. Officers worked in partnership with colleagues to organise events that will generate income.

Complete procurement for food vendors for all spaces on West Ham Park.

This has been delayed and will be progressed during 2025/26.

Explore possibilities for projects to increase natural capital and biodiversity net gain across West Ham Park based on recent Natural Capital Audit report.

An external consultant has carried out a survey of all NE sites to assess BNG opportunities. Works planned will be quite small scale, and will be carried out in 2025/26.

Review provision of sports at the park, including tennis and padel.

Officers are continuing with this work, with regular meetings with LTA, a periscope report was produced identifying padel opportunities. Areas are under review with further updates to come in 2025/26.

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West Ham Park | Annual Report and Financial Statements 2024/25

Review existing licences and booking systems for sports facilities on West Ham Park.

The yearly review of fees and charges was completed with changes to membership for cricket and tennis. A new tennis coaching licence has been put together, but subject to final approval.

Complete remaining components of playground project, including native hedgerow and tree planting around perimeter.

The hedgerow planting was completed during this fiscal year, with the local team, Friends of West Ham Park, schools and scouts group working together during several events. The remaining elements of the playground project will be carried over into next FY.

PLANS FOR FUTURE PERIODS

The team will focus on delivering the following key projects over the next 12 months.

Key projects for 2025/26 include:

The Trustee is monitoring the situation and will continue with its plans to hold West Ham Park on trust forever “as open public grounds and gardens for the resort and recreation for adults and as playground for children and youth”.

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West Ham Park | Annual Report and Financial Statements 2024/25

FINANCIAL REVIEW

Overview of Financial Performance

Income

In 2024/25 the charity’s total income for the year was £1,725,782, an overall increase of £136,804 against the previous year (£1,588,978). The principal source of income was from the City of London Corporation’s City’s Estate fund (see below).

Income from Charitable Activities comprised £55,782 from fees charged (2023/24: £51,684) and £234,439 from rents (2023/24: £302,306) with income remaining broadly consistent with the previous year.

Donations - being amounts received from the public through donations. Donations can be made on the West Ham Park webpage, to the West Ham Park Playground Refurbishment project and West Ham Park 150th Anniversary. In total, £250 in restricted donations was received during the year (2023/24: £100) with this donations income being fully spent during 2024/25. £372 in unrestricted donations were also received in the year (2023/24: £530).

Interest of £791 from cash held following the sale of property was received (2023/24: £791).

An amount of £1,414,148 (2023/24: £1,233,567) was received from the City of London Corporation’s City’s Estate as a contribution towards the running costs of the charity. The increase from the previous year is largely explained to fund an increase in City Surveyors expenditure.

Expenditure

Total expenditure for the year was £1,803,045, with all expenditure relating to charitable activities (2023/24: £1,667,394). The increase in expenditure is due to additional equipment and material purchases taking place as well as to fund an increase in recharges from support service departments.

Funds held

The charity’s total funds held decreased by £77,263 to £799,893 as at 31 March 2025 (2023/24: £877,156).

The charity’s designated funds consist of unrestricted income funds which the Trustee has chosen to set aside for specific purposes. Such designations are not legally binding, and the Trustee can decide to “un-designate” these funds at any time. Designations as at 31 March 2025 totalled £799,893 (2023/24: £877,156). The decrease in designated funds is due to depreciation being incurred on vehicles and equipment. These designated funds represent the net book value of fixed assets held.

A restricted fund of £nil (2023/24: £nil) was held at year-end.

Details of all funds held, including their purposes, is set out within note 14 to the financial statements.

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West Ham Park | Annual Report and Financial Statements 2024/25

Reserves

The charity is supported by the City of London Corporation which maintains and preserves West Ham Park out of its City’s Estate Funds. These Funds are used to meet the deficit on running expenses on a year by year basis. Consequently, this charity has no free reserves and a reserves policy is considered by the trustee to be inappropriate.

Donations are now being sought. These may be carried forward but there is currently no intention to hold them as a minimum amount owing to the deficit funded status of the Charity.

Principal Risks and Uncertainties

The charity is committed to a programme of risk management as an element of its strategy to preserve the charity’s assets. In order to embed sound practice the senior leadership team ensures that risk management policies are applied, that there is an on-going review of activity and that appropriate advice and support is provided. A key risk register has been prepared for the charity, which has been reviewed by the Trustee. This identifies the potential impact of key risks and the measures which are in place to mitigate such risks.

The principal risks faced by the charity, and actions taken to manage them are as follows:

**Risk ** Actions to manage risks
Decline in condition
of assets		 Structures are kept under regular review to ensure they
remain safe and in usable condition.
Officers work closely with colleagues in the City of London’s
City Surveyor’s Department to identify repair and
maintenance needs and arrange for works to be undertaken.
A full review of built assets has been undertaken.
Work related stress Work is underway to identify additional funding to increase
staff resource.
Staff rotas are being reviewed to update schedules and
identify staffing gaps.
Ongoing liaison with HR and the Occupational Health service
enables the provision of appropriate support to staff.
Budget Pressures The budget position is kept under regular review.
Income generation opportunities are sought and developed.
Adverse impacts of
extreme weather and
climate change		 An increased variety of species is planted in order to ‘spread
the risk’, e.g. more drought tolerant species and those better
able to cope with a range of temperatures/ rainfall levels.
An Extreme Weather Protocol is in place and is employed
during severe storms. This improves the ability to reduce the
risk by closing the park before extreme weather events
occur.
Risk to health and
safety		 Proactive Health and Safety management is in place,
including appropriate procedures, audits, inspections,
communications and staffing.
Staff receive training in H&S awareness, compliance and to
ensure they are fully aware of their responsibilities.

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West Ham Park | Annual Report and Financial Statements 2024/25

Impacts of anti-social
behaviour on staff
and site public
behaviour
Officers continue to work with the Metropolitan Police,
schools’ liaison and Safer Neighbourhood Teams, and the
London Borough of Newham’s Community Safety Team as
necessary.
Processes are in place to tackle abuse of staff as well as
conflict management training for front-line employees.
Tree event or failure Robust tree management systems are in place, including
regular inspections of trees to identify any which are more
likely to fail due to structural or health issues. Works are
prioritised to ensure the most urgent issues are addressed
quickly.
An Extreme Weather Protocol includes criteria for closing
West Ham Park in extreme weather conditions.
Negative impacts of
pests and diseases		 Staff continue to be vigilant and inspect for all tree pest and
diseases.
Tree inspections are carried out annually by qualified
members of staff.

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West Ham Park | Annual Report and Financial Statements 2024/25

TRUSTEE’S RESPONSIBILITIES

The Trustee is responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Charity law requires the Trustee to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity law the Trustee must not approve the financial statements unless the Trustee is satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the Trustee is required to:

The Trustee is responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable the Trustee to ensure that the financial statements comply with the Charities Act 2011. The Trustee is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustee is aware:

Financial statements are published on the Trustee’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements, which may vary from legislation in other jurisdictions. The maintenance and integrity of the Trustee’s website is the responsibility of the Trustee. The Trustee’s responsibility also extends to the ongoing integrity of the financial statements contained therein

Adopted and signed for on behalf of the Trustee.

Henry Nicholas Almroth Colthurst, Deputy Chairman of Finance Committee of The City of London Corporation

Andrien Gereith Dominic Meyers Deputy Chairman of Finance Committee of The City of London Corporation

Guildhall, London

19/01/2026

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West Ham Park | Annual Report and Financial Statements 2024/25

Independent Auditor’s Report to the Trustee of West Ham Park Opinion

We have audited the financial statements of West Ham Park (“the charity”) for the year ended 31 March 2025 which comprise the Statement of Financial Activities, Balance Sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinions

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustee with respect to going concern are described in the relevant sections of this report.

Other information

The trustee is responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a

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material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of the Trustee

As explained more fully in the trustee’s responsibilities statement set out on page 11, the trustee are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustee determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustee is responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustee either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011, and report in accordance with the Acts and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those

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risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the charity operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Charities Act 2011 together with the Charities SORP (FRS102) 2019. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charities’ ability to operate or to avoid a material penalty. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustee and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of income, and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, internal audit, legal counsel and the Audit & Risk Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

Use of our report

This report is made solely to the charity’s trustee, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustee those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustee as a body, for our audit work, for this report, or for the opinions we have formed.

Crowe U.K. LLP Statutory Auditor 55 Ludgate Hill, London, EC4M 7JW

Date: 23 January 2026

Crowe U.K. LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

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West Ham Park | Annual Report and Financial Statements 2024/25

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2025

All of the above results are derived from continuing activities.

There were no other recognised gains and losses other than those shown above. The notes on pages 17 to 28 form part of these financial statements.

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BALANCE SHEET

AS AT MARCH 2025

The notes on pages 17 to 28 form part of these financial

statements Approved and signed on behalf of the Trustee.

Caroline Al-Beyerty

Chamberlain of London and Chief Financial Officer

19/01/2026

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West Ham Park | Annual Report and Financial Statements 2024/25

NOTES TO THE FINANCIAL STATEMENTS

1. ACCOUNTING POLICIES

The following accounting policies have been applied consistently in dealing with items that are considered material in relation to the financial statements of the charity.

(a) Basis of Preparation

The financial statements of the charity, which is a public benefit entity under FRS102, have been prepared under the historical cost convention and in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition effective 1 January 2019) and the Charities Act 2011.

(b) Going concern

The financial statements have been prepared on a going concern basis as the Trustee considers that there are no material uncertainties about the charity’s ability to continue as a going concern. The charity’s governing documents place an obligation on the City of London Corporation to preserve the open spaces for the benefit of the public. Funding is provided from the City of London Corporation’s City’s Estate. On an annual basis, a medium-term financial forecast is prepared for City’s Estate, covering the next 5 years from the period covered by these financial statements. The latest forecast anticipates that adequate funds will be available in the 12 months from the date of these financial statements being signed to enable the charity to continue to fulfil its obligations.

In making this assessment, the Trustee has considered the potential ongoing impact of current high inflationary pressures on the financial position, including future income levels and planned expenditure and the liquidity of the charity over the next 12-month period. For these reasons the Trustee continues to adopt a going concern basis for the preparation of the financial statements.

(c) Key management judgements and assumptions

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenditure. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the result of which form the basis of decisions about carrying values of assets and liabilities that are not readily apparent from other sources. The resulting accounting estimates will, by definition, seldom equal the related actual results.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in any future periods affected. Management do not consider there to be any material revisions requiring disclosure.

In preparing the financial statements, management has made the following key judgements: useful economic life of fixed assets.

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(d) Statement of Cash Flows

The charity has taken advantage of the exemption in FRS102 (paragraph 1.12b) from the requirement to produce a statement of cash flows on the grounds that it is a qualifying entity.

A Statement of Cash Flows is included within the City’s Estate Annual Report and Financial Statements 2023 which is publicly available at www.cityoflondon.gov.uk.

(e) Income

All income is included in the Statements of Financial Activities (SOFA) when the charity is legally entitled to the income; it is more likely than not that economic benefit associated with the transaction will come to the charity and the amount can be quantified with reasonable certainty. Income consists of donations, charges for use of facilities, contributions, grants (including government grants), investment income, interest, sales and rental income.

The City of London Corporation’s City’s Estate meets the deficit on running expenses of the charity and also provides funding for certain capital works. This income is considered due each year end once the deficit on running expenses and capital works funding has been confirmed, and is recognised in the SOFA at this point.

(f) Expenditure

Expenditure is accounted for on an accruals basis and has been classified under the principal categories of ‘expenditure on raising funds’ and ‘expenditure on charitable activities’. Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.

Governance costs include the costs of governance arrangements which relate to the general running of the charity as opposed to the direct management of functions inherent in the activities undertaken. These include the costs associated with constitutional and statutory requirements such as the cost of Trustee meetings.

Support costs (including governance costs) include activities undertaken by the City Corporation on behalf of the charity, such as human resources, digital services, legal support, accounting services, committee administration, public relations and premises costs. These costs are recharged to the charity and the basis of the cost allocation is set out in note 7.

The Trustee, the City Corporation, accounts centrally for all payroll related deductions. As a result, the charity accounts for all such sums due as having been paid.

(g) Pension Costs

Staff are employed by the City of London Corporation and are eligible to contribute to the City of London Local Government Pension Fund, which is a funded defined benefit scheme. The estimated net deficit on the Fund is the responsibility of the City of London Corporation as a whole, as one employer, rather than the specific responsibility of any of its three main funds (City Fund, City’s Estate and Bridge House Estates) or the trusts it supports.

The Fund’s estimated net liability has been determined by independent actuaries in accordance with FRS102 as £2.7m as at 31 March 2025 (£49.9m as at 31 March 2024). Since any net deficit is apportioned between the financial statements of the City

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of London’s three main funds, the charity’s Trustee does not anticipate that any of the liability will fall on the charity. The charity is unable to identify its share of the pension scheme assets and liabilities and therefore the Pension Fund is accounted for as a defined contribution scheme in these financial statements.

Barnett Waddingham, an independent actuary, carried out the latest triennial actuarial assessment of the scheme as at 31 March 2022, using the projected unit method. The 31 March 2022 valuation was carried out in 2022/23 and has set the contribution rates for the period 01 April 2023 to 31 March 2026 at 21%. Contribution rates adopted for the financial years 2020/21, 2021/22 and 2022/23 had been set at 21%.

(h) Taxation

The charity meets the definition of a charitable trust for UK income tax purposes, as set out in Paragraph 1 Schedule 6 of the Finance Act 2010. Accordingly, the charity is exempt from UK taxation in respect of income or capital gains under part 10 of the Income Tax Act 2007 or section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

(i) Fixed Assets

Heritage Land and Associated Buildings

West Ham Park comprises 31 hectares (77 acres) of land, together with associated buildings, located in the London Borough of Newham. The objects of the charity are to hold West Ham Park as open public grounds and gardens for the resort and recreation for adults and as a playground for children and youths. West Ham Park is considered to be inalienable (i.e. may not be disposed of without specific statutory powers).

Land and the original associated buildings are considered to be heritage assets. In respect of the original land and buildings, cost or valuation amounts are not included in these financial statements as reliable cost information is not available and a significant cost would be involved in the reconstruction of past accounting records, or in the valuation, which would be onerous compared to the benefit to the users of these accounts.

Additions to the original land and capital expenditure on buildings and other assets would be included as fixed assets at historic cost, less provision for depreciation and any impairment, where this cost can be reliably measured. Heritage assets are reviewed annually for impairment.

Tangible Fixed Assets

Assets that are capable of being used for more than one year and have a cost greater than £50,000 are capitalised. Such assets are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is charged on a straightline basis, in order to write off each asset over its estimated useful life as follows. Land is not depreciated.

Years

5 to 25

Equipment

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West Ham Park | Annual Report and Financial Statements 2024/25

(j) Cash

Cash and cash equivalents include cash in hand, overdrafts (if any) and short term deposits and other instruments held as part of the Corporation’s treasury management activities with original maturities of three months or less.

(k) Funds structure

Income, expenditure and gains/losses are allocated to particular funds according to their purpose:

Restricted Funds – These include income that is subject to specific restrictions imposed by donors, with related expenditure deducted when incurred.

Unrestricted Income Funds – these funds can be used in accordance with the charitable objectives at the discretion of the Trustee and includes income generated by assets held representing unrestricted funds. Specifically, this represents any surplus of income over expenditure for the charity which is carried forward to meet the requirements of future years, known as free reserves.

Designated Funds – these are funds set aside by the Trustee from the unrestricted funds for a specific purpose.

(l) Insurance

The charity, elected Members and staff supporting the charity’s administration are covered by the City Corporation’s insurance liability policies, and otherwise under the indemnity the City Corporation provides to Members and staff, funded from City’s Estate.

2. INCOME FROM VOLUNTARY ACTIVITIES

3. INCOME FROM CHARITABLE ACTIVITIES

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West Ham Park | Annual Report and Financial Statements 2024/25

4. INCOME FROM THE CITY OF LONDON CORPORATION

5. INCOME FROM INVESTMENTS

Income for the year included:

Donations – being amounts received from the public through donations. In December 2020, a donations page was created on the West Ham Park webpage, inviting and enabling the public to make on-line donations to the West Ham Park Playground Refurbishment project.

Charitable activities – being amounts generated from the sales of leaflets, books, maps, cards and other publications relating to West Ham Park; charges made to the public for the use of facilities, admissions and services; and rental income from Strutt & Parker in relation to two lodges at 240 and 242 Upton Lane, from Territorial Army and Mobile Refreshment Facility licence respectively.

Grants from the City of London Corporation – being the amount received from the City of London Corporation’s City’s Estate to meet the deficit on running expenses of the charity, alongside funding for capital purchases.

Investments - interest from a capital receipt in respect of the sale of property.

6. EXPENDITURE

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West Ham Park | Annual Report and Financial Statements 2024/25

Charitable activity

Expenditure on the charitable activities includes labour, premises costs, equipment, materials and other supplies and services incurred in the running of West Ham Park.

Auditor’s remuneration and fees for other services

Crowe U.K. LLP are the auditors of the City of London’s City’s Estate Fund and provide assurance services to all of the different charities of which it is Trustee. In 2023/24, an audit fee of £15,430 was recharged (2023/24: £6,930). No other services were provided to the charity by its auditors during the year (2023/24: £nil).

7. SUPPORT COSTS

Support costs include activities undertaken by the City of London Corporation on behalf of the Charity, such as human resources, digital services, legal support, accounting services, committee administration and premises costs. Such costs are determined on a departmental basis, and are allocated on a cost recovery basis to the charity based on time spent, with associated office accommodation charged proportionately to the space occupied by the respective activities, with the split of costs as follows:

Support costs

All support costs are undertaken from unrestricted funds. Governance costs are allocated based on a proportion of officer time spent on the administration of Trustee and Committee related meetings.

8. DETAILS OF STAFF COSTS

All staff that work on behalf of the charity are employed by the City Corporation. The average number of people directly undertaking activities on behalf of the charity during the year was 12.6 (2023/24: 13.2).

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West Ham Park | Annual Report and Financial Statements 2024/25

Amounts paid in respect of employees directly undertaking activities on behalf of the charity were as follows:

The number of directly charged employees whose emoluments (excluding employer’s NI and pension contribution) for the year were over £60,000 was £nil (2023/24: £nil).

Remuneration of Key Management Personnel

The charity considers its key management personnel to comprise the Members of the City of London Corporation, acting collectively for the City Corporation in its capacity as the Trustee, and the Director of Natural Environment who manages the seven open spaces funded by the City of London Corporation. A proportion of the Directors’ employment benefits are allocated to this charity.

Support is also provided by other chief officers and their departments from across the City of London Corporation, including the Town Clerk and Chief Executive, Chamberlain, Comptroller and City Solicitor and City Surveyor.

The amount of employee benefits received by key management personnel totalled £6,320 (2023/24: £6,021). The members of the Finance Committee of the City of London Corporation are not remunerated and expenses are not reimbursed for acting on behalf of the Trustee during 2024/25 (2023/24: nil).

9. HERITAGE ASSETS

Since 1874 the primary purpose of the charity has been the preservation of West Ham Park for the recreation and enjoyment of the public. As set out in Note 1(i), the original heritage land and buildings are not recognised in the Financial Statements. Policies for the preservation and management of West Ham Park are contained in the West Ham Park Management Plan 2020-25. Records of heritage assets owned and maintained by West Ham Park can be obtained from the Executive Director Environment at the principal address as stated on page 28.

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West Ham Park | Annual Report and Financial Statements 2024/25

10. TANGIBLE FIXED ASSETS

11. DEBTORS – AMOUNTS FALLING DUE WITHIN ONE YEAR

Other debtors consist of sundry debtors of £11,046 (2023/24: £11,073) and rental debtors of £4,598 (2023/24: £1,428).

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West Ham Park | Annual Report and Financial Statements 2024/25

12. CREDITORS – AMOUNTS FALLING DUE WITHIN ONE YEAR

Other creditors consist of sundry creditors of £28,200 (2023/24: £37,809) and sundry deposits of £147 (2023/24: £147).

Deferred income relates to rental income received in advance for periods after the year-end.

13. ANALYSIS OF NET ASSETS BY FUND

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West Ham Park | Annual Report and Financial Statements 2024/25

14. MOVEMENT IN FUNDS

Purposes of restricted funds

The restricted fund for ‘Campaign Donations’ represents funds received from the public through donations. From December 2020, a donations page has been created on the West Ham Park webpage, inviting and enabling the public to make on-line donations to the West Ham Park Playground Refurbishment project. In total £nil was received during the year (2023/24: £100).

Purposes of designated funds

Designated funds have been set aside by the Trustee for the following purposes:

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West Ham Park | Annual Report and Financial Statements 2024/25

15. RELATED PARTY TRANSACTIONS

The City Corporation is the sole Trustee of the charity, as describe on page 2. The City Corporation provides various services to the charity, the costs of which are recharged to the charity. This includes the provision of banking services, charging all transactions to the charity at cost and crediting or charging interest at a commercial rate. The cost of these services is included within expenditure, as set out in note 7.

The charity is consolidated within the accounts of City’s Estate, a fund of the City of London Corporation (the City Corporation, the Corporate Trustee of the charity), by virtue of the deemed control arising from the provision of the shortfall between the charity’s income and expenditure by City’s Estate, whose place of business is Guildhall, London EC2P 2EJ. The principal purpose of City’s Estate is to manage its investments in properties, stocks and shares to provide returns which allows the City Corporation to use the income for the provision of services that are of importance to the City and Greater London as well as nationally and internationally, and to maintain the asset base so that income will be available to fund services for the benefit of future generations. The financial statements of City’s Estate can be obtained from the address provided above.

The charity is required to disclose information on related party transactions with bodies or individuals that have the potential to control or influence the charity. Members are required to disclose their interests, and these can be viewed online at www.cityoflondon.gov.uk.

Members and senior staff are requested to disclose all related party transactions, including instances where their close family has made such transaction.

Figures in brackets represent the amounts due at the balance sheet date. Other figures represent the value of the transactions during the year.

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West Ham Park | Annual Report and Financial Statements 2024/25

REFERENCE AND ADMINISTRATION DETAILS

CHARITY NAME: West Ham Park

Registered charity number 206948

PRINCIPAL OFFICE OF THE CHARITY & THE CITY CORPORATION:

Guildhall, London, EC2P 2EJ

TRUSTEE:

The Mayor and Commonalty & Citizens of the City of London

SENIOR MANAGEMENT:

Chief Executive

Ian Thomas CBE - The Town Clerk and Chief Executive of the City of London Corporation

Treasurer

Caroline Al-Beyerty - The Chamberlain & Chief Financial Officer of the City of London Corporation

Solicitor

Michael Cogher - The Comptroller and City Solicitor of the City of London Corporation

Environment Department

Katie Stewart – Executive Director of Environment

Emily Brennan – Director of Natural Environment

AUDITORS:

Crowe U.K. LLP, 55 Ludgate Hill, London, EC4M 7JW

BANKERS:

Lloyds Bank Plc., P.O.Box 72, Bailey Drive, Gillingham Business Park, Kent ME8 0LS Contact for The Chamberlain, to request copies of governance documents & of the Annual Report of City’s Estate:

PA-ChamberlainSecretariat@cityoflondon.gov.uk

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