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|Legal and|administrative|information|||
|Report of|the Council|||4-8|
|Auditors
Report||||9-12|
|Statement|of Financial|Activities|||
|(including|Income & Expenditure||Account)|13|
|Balance Sheet||||14|
|Cash flow|statement||||
|Accounting|policies|||16-18|
|Notes to the Financial Statements||||18-32|
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|||Unrestricted|Restricted|Total funds|Total funds|
|---|---|---|---|---|---|
||Notes|funds|funds|2020|2019|
|INCOME||||||
|Donations and legacies||1,007,691|276,292|1,283,983|1,088,778|
|Charitable
activities||68,277||68,277|63,583|
|KXC Facilities Ltd (external income)|||||8,386|
|KXCoworking
Ltd (external income)||241,137||241,137|272,755|
|Investment
income||800||800|1,026|
|Otherincome||5,393||5,393|2,780|
|TOTAL INCOME||1,323,298|276,292|1,599,590|1,437,308|
|EXPENDITURE||||||
|Charitable
activities|6|1,129,060|210,665|1,339,725|1,247,053|
|TOTAL EXPENDITURE||1,129,060|210,665|1,339,725|1,247,053|
|NET INCOME FOR THE YEAR||||||
|BEFORETRANSFERS||194,238|65,627|259,865|190,255|
|TRANSFERS BETWEEN FUNDS||(43,563)|43,563|||
|NET INCOME FOR THE YEAR||150,675|109,190|259,865|190,255|
|TOTAL FUND BALANCES BROUGHT FORWARD||377,061|100,807|477,868|287,613|
|TOTAL FUND BALANCES CARRIED FORWARD|14&15|527,736|209,997|737,733|477,868|
##
||||Group||Charity||
|---|---|---|---|---|---|---|
||||2020|2019|2020|2019|
|||Notes|||||
|FIXED ASSETS|||||||
|Tangible assets|||842,803|838,729|838,479|828,034|
|Investments||10|||2|2|
|CURRENT ASSETS|||||||
|Debtors|||73,666|93,285|53,781|96,884|
|Cash at bank and in hand|||713,492|398,815|631,909|337,609|
||||787,158|492,100|685,690|434,493|
|CREDITORS: amounts|falling||||||
|due within one year||12|(190,375)|(135,709)|(151,450)|(85,067)|
|NET CURRENT ASSETS|||596,783|356,391|534,240|349,426|
|CREDITORS: due in more than one year||13|(701,853)|(717,252)|(701,853)|(717,252)|
|NET ASSETS|||737,733|477,868|670,868|460,210|
|FUNDS|||||||
|Unrestricted
funds||15|527,736|377,061|460,871|359,403|
|Restricted funds||14|209,997|100,807|209,997|100,807|
|TOTAL FUNDS||16|737,733|477,868|670,868|460,210|
##
||CONSOLIDATED
CASHFLOW|STATEMENT FOR THE YEAR ENDED 31DEC|EMBER 2020|||
|---|---|---|---|---|---|
||||2020||2019|
|||Notes|f||f|
||NET CASH FLOW PROVIDED BY|OPERATING ACTIVIT IES|370,207||962,559|
||CASH FLOWS FROM INVESTING|ACTIVITIES||||
||Interest received||800||1,026|
||CASH FLOWS FROM INVESTING|ACTIVITIES||||
||Fixed asset additions||(16,532)||(828,747)|
||CASH FLOWS FROM FINANCING|ACTIVITIES||||
||Repayments
ofborrowing||(39,798)|||
||NET CASH FLOW||314,677||134,838|
||Change
in cash and cash equivalents
in the year||314,677||134,838|
||Cash and cash equivalent
at start ofthe year||398,815||263,977|
||Cash and cash equivalents
at the end ofthe year||713,492||398,815|
||NOTES TOTHE CASHFLOW STATEMENT FOR THE YEAR ENDED 31DECEMBER 2020|||||
|2|NET CASH FLOW PROVIDED BY|OPERATING ACTIVITIES||||
||Net movement
in funds for|the year|259,865||190,255|
||Interest received||(800)||(1,026)|
||Depreciation||12,458||53,807|
||Loss on disposal offixed assets||||375|
||(Increase)/decrease
in debtors||19,619||(6,577)|
||(Decrease)/increase
in creditors||79,065||725,725|
||Net cash flow from operating
activities||370,207||962,559|
|2|ANALYSIS OF CASH AND CASH EQUIVALENTS||2020||2019|
||||f.||f|
||Cash at bank and in hand||713,492||398,815|
||||713,492||398,815|
|3|ANALYSIS OF CHANGES
IN NET DEB'T||At||AL31|
||||1Jan 2020|Cash flows|31Dec2020|
||Cash at bank and in hand||398,815|314,677|713,492|
||Debt due within one year||(36,407)|24,399|(12,008)|
||Debt due after one year||(717,252)|15,399|(701,853)|
||||(354,844)|354,475|(369)|
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|3|DONATIONS
AND LEGACIES|DONATIONS
AND LEGACIES|Unrestricted|Restricted|Totalfunds|Total funds|
|---|---|---|---|---|---|---|
||||funds|funds|2020|2019|
||||f|f|f|f|
||Non gift aid donations||182,370|34,870|217,240|195,474|
||Gift aid donations||658,228|142,650|800,878|709,737|
||Gift aid recoverable||164,701|35,872|200,573|183,313|
||Special appeals||2,392||2,392|254|
||Grant income|||62,900|62,900||
||||1,007,691|276,292|1,283,983|1,088,778|
|4|CHARITABLE ACTIVITIES INCOME||Unrestricted|Restricted|Total funds|Total funds|
||||funds|funds|2020|2019|
||||f||f|f|
||Church Weekend|Away|44,291||44,291|41,648|
||Other event income||4,726||4,726|2,957|
||Book and Media|income|19,260||19,260|18,978|
||||68,277||68,277|63,583|
|5|STAFF COSTS||||2020|2019|
||Wages and salaries||||384,432|361,346|
||Social security costs||||23,885|25,529|
||Pension||||17,613|15,111|
||Accommodation|and other costs|||23,510|36,580|
||||||449,440|438,566|
##
##
|6|EXPENDITURE|||Unrestricted|Restricted|Total funds|Total funds|
|---|---|---|---|---|---|---|---|
|||||funds|funds|2020|2019|
||||||6|6|6|
||Direct costs|||||||
||Worship|||22,314|1,572|23,886|15,902|
||Sunday services|||5,338|936|6,274|7,243|
||Song writing|and production||21,573|3,440|25,013|1,468|
||Live events||||||1,821|
||Festival services|||9,759|2,025|11,784|11,494|
||Prayer|||833|11,379|12,212|1,109|
||Apprenticeship||year|1,976||1,976|5,441|
||Hubs and pattern|||5,589||5,589|4,256|
||Conferences|and events||74,313||74,313|60,269|
||Family life|||3,124|1,986|5,110|7,217|
||Students|||1,434||1,434|1,551|
||Leadership
development|||1,007|634|1,641|5,246|
||Pastoral|||2,089|48|2,137|2,572|
||Newcomers|||711||711|3,466|
||Compassion|and local missions||9,823|18,765|28,588|11,472|
||Evangelism|||556||556|2I313|
||Grants|||43,300||43,300|58,821|
||Hub mission|||300||300|464|
||Church
Planting|||22,993|5,449|28,442|10,568|
||Church
Planting||—St Saviours assets gifted||31,262|31,262||
||Church
Planting||—St Mary's assets gifted||36,571|36,571||
||KXCFacilities|Ltd (external costs)||117,609||117,609|180,875|
||KXCoworking|Ltd (external costs)||110,321||110,321|77,569|
||Total direct costs|||454,962|114,067|569,029|471,137|
##
##
|6|EXPENDITURE (continued)|EXPENDITURE (continued)|EXPENDITURE (continued)|EXPENDITURE (continued)|Unrestricted|Restricted|Total funds|Totalfunds|
|---|---|---|---|---|---|---|---|---|
||||||funds|funds|2020|2019|
||||||6|6|6|6|
||Direct costs (see|previous page)|||454,962|114067|569029|471,137|
||Support costs||||||||
||Venue hire||||41,733|838|42,571|88,045|
||Shared equipment||and consumables||2,279|1,083|3,362|5,590|
||Hospitality||||786||786|4,583|
||Office costs||||11,773|9,888|21,661|28,631|
||Travel and subsistence||||2,086|602|2,688|2,024|
||Staff training
and|recruitment|||11,401||11,401|13,083|
||Owned and leased||facilities||19,917|5,224|25,141|15,971|
||Finance||||105||105|1,688|
||Communications|and||media|8,569|3,236|11,805|7,059|
||Facilities planning|||||14,434|14,434|270|
||Clergy housing||||16,952|12,000|28,952|20,164|
||Curate and ordinand|||costs|39,900||39,900|47,428|
||Wages and salaries||||419,036|30,404|449,440|438,566|
||Common
fund||||85,200||85,200|82,800|
||Trustee expenses||||854||854|1,900|
||Accountancy fee||||6,898||6,898|6,965|
||Payroll fees||||1,368||1,368|1,152|
||Bank charges and|loan interest|||1,071|18,523|19,594|5,905|
||Depreciation||||2,721|366|3,087|3,521|
||Loss on disposal|||||||375|
||Sundry costs||||579||579|196|
||Total support costs||||674,098|96,598|770,696|775,916|
||Total expenditure||||1,129,060|210,665|1,339,725|1,247,053|
##
##
||2020|2019|
|---|---|---|
||E|E|
|Kings Cross Church|||
|XLP|10,000|10,000|
|Christians
Against Poverty|3,700|7,520|
|Open Doors|1,200|1,200|
|Choices Islington|6,800|4,697|
|Growing Hope|11,000|11,445|
|London City Mission|2,400|2,400|
|Crux Conversations||5,000|
|Assembly ofGod|1,800|1,800|
|Liv UK|2,880|2,880|
|KXCoworking
Ltd|||
|Choices Islington||4,510|
|Ella's Home||1,395|
|KXC - Home Ground||4,510|
|Help on Your Doorstep|1,000||
##
##
|||2020|2019|
|---|---|---|---|
|||E|E|
|Turnover||137,333|181,469|
|Administration|expenses|(111,120)|(162,127)|
|Taxation||(6,993)|(13,392)|
|Net profit / (loss)||19,220|5,950|
##
|||2020|2019|
|---|---|---|---|
|||E|E|
|Turnover||241,137|278,714|
|Administration|expenses|(203,308)|(261,045)|
|Taxation||(6,941)|(2,958)|
|Net profit||30,888|14,711|
##
##
||NOTES TO THE ACCOUNTS FOR THE|YEAR ENDED 31DECE|MBER 2020||||
|---|---|---|---|---|---|---|
|9|TANGIBLE FIXEDASSETS||||||
||||land and||Furniture
and||
||Charity||buildings|Equipment|fittings|Total|
||||f|f|f|f|
||COST||||||
||At beginning ofyear||827,368|15,353|1,930|844,651|
||Additions|||13,532||13,532|
||Disposals||||||
||At end ofyear||827,368|28,885|1,930|858,183|
||DEPRECIATION||||||
||At beginning ofyear|||14,687|1,930|16,617|
||Charge for the year|||3,087||3,087|
||On disposals||||||
||At end ofyear|||17,774|1,930|19,704|
||NET BOOK VALUE||||||
||At end ofyear||827,368|11,111||838,479|
||At beginning
ofyear||827,368|666||828,034|
|||Land and|Leasehold||Furniture
and||
||Group|buildings|improvement|Equipment|fittings|Total|
|||f|f|f|f|f|
||COST||||||
||At beginning
ofyear|827,368|191,337|15,861|12,361|1,046,927|
||Additions|||13,532|3,000|16,532|
||At end ofyear|827,368|191,337|29,393|15,361|1,063,459|
||DEPRECIATION||||||
||At beginning
ofyear||183,364|14,715|10,119|208,198|
||Charge for the year||7,973|3,257|1,228|12,458|
||At end ofyear||191,337|17,972|11,347|220,656|
||NET BOOK VALUE||||||
||At end ofyear|827,368||11,421|4,014|842,803|
||At beginning
ofyear|827,368|7,973|1,146|2,242|838,729|
##
||NOTES TOTHE ACC|OUNT|S FOR THE YEAR ENDED 31DECEMB|ER2020||||
|---|---|---|---|---|---|---|---|
|10|INVESTMENTS|||Group||Charity||
|||||2020|2019|2020|2019|
|||||f.|f|f|f|
||Investment
in subsidiary||undertakings|||||
||Historic cost at end ofyear|||||2|2|
|11|DEBTORS|||Group||Charity||
|||||2020|2019|2020|2019|
|||||f|f|f||
||Trade debtors|||7,293|18,993|||
||Prepayments|||7,194|35,377||8,369|
||Amounts
due from subsidiary
undertakings|||||13,352|68,352|
||Gift aid recoverable|||24,630|16,923|24,630|16,923|
||Other debtors|||34,549|21,991|15,799|3,240|
|||||73,666|93,284|53,781|96,884|
|12|CREDITORS: amounts|falling|due within one year|Group||Charity||
|||||2020|2019|2020|2019|
|||||f|f|f|f|
||Trade creditors|||14,835|5,184|11,097|125|
||Taxation and other social security costs|||18,936|21,218|||
||Accruals and deferred income|||19,211|46,080|6,500|44,437|
||Other creditors|||125,385|26,820|121,845|4,098|
||Bankloans|||12,008|36,407|12,008|36,407|
|||||190,375|135,709|151,450|85,067|
|13|CREDITORS: amounts|falling|due in more than one year|Group||Charity||
|||||2020|2019|2020|2019|
|||||f|f|f|f|
||Bank loans|||451,853|467,252|451,853|467,252|
||Otherloans|||250,000|250,000|250,000|250,000|
|||||701,853|717,252|701,853|717,252|
||The bank loans are secured on the freehold property concerned,|||plus a debenture|over Kings|Cross Church.||
||The other loans are secured on the freehold property concerned.|||||||
||Amounts
falling due for payment
after more than five years:|||||||
|||||Group||Charity||
|||||2020|2019|2020|2019|
|||||f|f|f|f|
||Bankloans|||398,748|416,801|398,748|416,801|
||Otherloans|||250,000|250,000|250,000|250,000|
|||||648,748|666,801|648,748|666,801|
##
##
|14|RESTRICTED FUNDS|||Funds||||Funds|
|---|---|---|---|---|---|---|---|---|
|||||b/fwd|Income|Expenditure|Transfers|c/fwd|
|||||f||f|f|f|
||TENT|||6,009||(371)||5,638|
||KXC Plant restricted||fund|36,571||(44,134)|7,563||
||Building fund|||15,439||(14,434)||1,005|
||Home Ground|||4,510|5,000|(2,793)||6,717|
||Resource Church|Funding||7,016|35,000|(30,503)||11,513|
||St Saviours|||31,262||(31,262)|||
||St Basil's||||110,477|(64,273)|30,000|76,204|
||KXCventure||||30,000|||30,000|
||KXCare||||12,528|(7,995)|6,000|10,533|
||Rebuilders||||68,387|||68,387|
||Foodbank||||10,500|(10,500)|||
||COVID-19 fund||||4,400|(4,400)|||
||TOTAL RESTRICTED||FUNDS|100,807|276,292|(210,665)|43,563|209,997|
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|15|UNRESTRICTED FUNDS||Funds||||Funds|
|---|---|---|---|---|---|---|---|
||||b/fwd|Income|Expenditure|Transfers|c/fwd|
||||f||f||f|
||Building designated|fund|46,340|||30,000|76,340|
||Missions designated|fund|44,222||(43,315)|28,892|29,799|
||Church Planting||47,500|629|(16,667)|(24,167)|7,295|
||Curate house||98,709|||14,798|113,507|
||Total designated
funds||236,771|629|(59,982)|49,523|226,941|
||KXC Facilities Ltd||(11,117)||(117,609)|137,334|8,608|
||KXCoworking
Ltd||28,775|241,137|(110,321)|(101,334)|58,257|
||General funds||122,632|1,081,532|(841,148)|(129,086)|233,930|
||Total general funds||140,290|1,322,669|(1,069,078)|(93,086)|300,795|
||TOTAL UNRESTRICTED FUNDS||377,061|1,323,298|(1,129,060)|(43,563)|527,736|
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|LYSIS OF GROUP NET ASSETS BETWEEN FUNDS||||
|---|---|---|---|
||Unrestricted|Restricted|Total|
|2020|funds|funds|2020|
||f|f|f|
|Tangible fixed assets|841,122|1,681|842,803|
|Debtors|69,573|4,093|73,666|
|Bank and cash|508,559|204,933|713,492|
|Creditors due within one year|(189,665)|(710)|(190,375)|
|Creditors due in more than one year|(701,853)||(701,853)|
||527,736|209,997|737,733|
|2019|Unrestricted|Restricted|Total|
||funds|funds|2019|
||f||f|
|Tangible fixed assets|838,729||838,729|
|Debtors|93,285||93,285|
|Bank and cash|298,008|100,807|398,815|
|Creditors due within one year|(135,709)||(135,709)|
|Creditors due in more than one year|(717,252)||(717,252)|
||377,061|100,807|477,868|
##
##
||Unrestricted|Restricted|Total funds|
|---|---|---|---|
||funds|funds|2019|
|INCOME||||
|Donations and legacies|970,078|118,700|1,088,778|
|Charitable
activities|63,583||63,583|
|KXC Facilities Ltd|8,386||8,386|
|KXCoworking
Ltd|272,755||272,755|
|Investment
income|972|54|1,026|
|Other income|30|2,750|2,780|
|TOTAL INCOME|1,315,804|121,504|1,437,308|
|EXPENDITURE||||
|Charitable
activities|1,157,343|89,710|1,247,053|
|TOTAL EXPENDITURE|1,157,343|89,710|1,247,053|
|NET INCOME FORTHE YEAR||||
|BEFORETRANSFERS|158,461|31,794|190,255|
|TRANSFERS BETWEEN FUNDS|(11,667)|11,667||
|NET INCOME FOR THE YEAR|146,794|43,461|190,255|
|TOTAL FUND BALANCES BROUGHT FORWARD|230,267|57,346|287,613|
|TOTAL FUND BALANCES CARRIED FORWARD|377,061|100,807|477,868|
##
##
|RESTRICTED FUNDS|RESTRICTED FUNDS||Funds||||Funds|
|---|---|---|---|---|---|---|---|
||||b/fwd|Income|Expenditure|Transfers|c/fwd|
||||f||f|f|f|
|TENT|||6,009||||6,009|
|Church Planting|||6,482||(649)|(5,833)||
|RCC Grant fund|||1,666||(1,666)|||
|KXCCommunity|Fund||2,899|5,658|(8,557)|||
|KXC Plant restricted||fund|27,175|16,701|(16,472)|9,167|36,571|
|Building
Fund|||13,115|2,324|||15,439|
|Home Ground||||4,510|||4,510|
|Resource Church|funding|||17,500|(10,484)||7,016|
|StSaviour's||||58,811|(35,882)|8,333|31,262|
|Mission Fund||||10,000|(10,000)|||
|Sabbatical fund||||6,000|(6,000)|||
|TOTAL RESTRICTED||FUNDS|57,346|121,504|(89,710)|11,667|100,807|
##
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##
|UNRESTRICTED FUNDS|UNRESTRICTED FUNDS|Funds||||Funds|
|---|---|---|---|---|---|---|
|||b/fwd|Income|Expenditure|Transfers|c/fwd|
|||f|f|f|f|f|
|Building designated|fund|58,000|||(11,660)|46,340|
|Missions designated|fund|14,147||(64,763)|94,838|44,222|
|Church Planting|||||47,500|47,500|
|Curate house|||||98,709|98,709|
|Total designated
funds||72,147||(64,763)|229,387|236,771|
|KXC Facilities Ltd||(17,068)|8,386|(180,875)|178,440|(11,117)|
|KXCoworking
Ltd||14,065|272,755|(77,569)|(180,476)|28,775|
|General funds||161,123|1,034,663|(834,136)|(239,018)|122,632|
|Total general funds||158,120|1,315,804|(1,092,580)|(241,054)|140,290|
|TOTAL UNRESTRICTED FUNDS||230,267|1,315,804|(1,157,343)|(11,667)|377,061|
##
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##
||2020|2019|
|---|---|---|
|INCOME|E||
|Donations and legacies|1,283,983|1,088,778|
|Charitable
activities|68,277|63,583|
|Investment
income|800|1,026|
|Other income|5,393|7,290|
|TOTAL INCOME|1,358,453|1,160,677|
|EXPENDITURE|||
|Charitable
activities|1,147,795|991,083|
|TOTAL EXPENDITURE|1,147,795|991,083|
|NET INCOME FOR THE YEAR|210,658|169,594|