2021-12-31-accounts - Kings Cross Church

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			Page
Legal and administrative	information
Report ofthe Council			4-8
Independent Auditors Report			9-12
Statement of Financial	Activities
(including Income 8, Expenditure		Account)	13
Balance Sheet			14
Cash Flow Statement
Notes to the Financial	Statements		16-32

				lain Alexander
				Sarah Eccleshall
				Sophie Guthrie
				Frank Harper (Chairman)
				Revd. Peter Hughes
				Michael Kent
				Revd. Canon Michael			Mitton
				John Parmiter
				Rachel Hylton	(appointed			28	February	2022)
Company		Secretary		Richard Spens
Company		Number		07416629
Charity	Number			1141658
Registered		Office		242 Pentonville		Road
				London
				N1 9NG
Church	Leaders (responsible			Revd. Peter Hughes			and	Mrs. Bee Hughes.
for leadership			ofthe church's
activities)
Bankers				NatWest Bank					CAF Bank
				Upper Street					25 Kings	Hill Avenue
				London					West Mailing
				N1 OPQ					Kent
									ME194JQ
				Virgin Money
				Jubilee House
				Gosforth
				Newcastle upon		Tyne
				NE3 4PL
Auditors				Chris Goodhead		FCA
				Knight Goodhead		Ltd
				7 Bournemouth	Road
				Chandler's Ford
				Hampshire
				60533DA

		Unrestricted	Restricted	Total funds	Total funds
	Notes	funds	funds	2021	2020
INCOME
Donations and legacies		1,188,438	595,279	1,783,717	1,283,983
Charitable activities		23,632		23,632	68,277
KXC Facilities Ltd (external income)
KXCoworking Ltd (external income)		268,389		268,389	241,137
Investment income		159		159	800
Other income		1,125		1,125	5,393
TOTAL INCOME		1,481,743	595,279	2,077,022	1,599,590
EXPENDITURE
Charitable activities	6	1,215,092	116,110	1,331,202	1,339,725
TOTAL EXPENDITURE		1,215,092	116,110	1331,202	1,339,725
NET INCOME FOR THE YEAR
BEFORETRANSFERS		266,651	479,169	745,820	259,865
TRANSFERS BETWEEN FUNDS		509,537	(509,537)
NET INCOME FOR THE YEAR		776,188	(30,368)	745,820	259,865
TOTAL FUND BALANCES BROUGHT FORWARD		527,736	209,997	737,733	477,868
TOTAL FUND BALANCES CARRIED FORWARD	14&15	1,303,924	179,629	1,483,553	737,733

			Group		Charity
			2021	2020	2021	2020
		Notes
FIXED ASSETS
Tangible assets		9	1,620,770	842,803	1,616,719	838,479
Investments		10			2
CURRENT ASSETS
Debtors			223,179	73,666	165,028	53,781
Cash at bank and in hand			564,440	713,492	453,890	631,909
			787,619	787,158	618,918	685,690
CREDITORS: amounts	falling
due within one year		12	(239,047)	(190,375)	(192,044)	(151,450)
NET CURRENT ASSETS			548,572	596,783	426,874	534,240
CREDITORS: due in more than one year		13	(685,789)	(701,853)	(685,789)	(701,853)
NET ASSETS			1,483,553	737,733	1,357,805	670,868
FUNDS
Unrestricted funds		15	1,303,924	527,736	1,178,176	460,871
Restricted funds		14	179,629	209,997	179,629	209,997
TOTAL FUNDS		16	1,483,553	737,733	1,357,805	670,868

	CONSOLIDATED CASHFLOW	STATEMENT FOR THE YEAR ENDED 31DECEMBE	R 2021
			2021		2020
		Notes	6		E
	NET CASH FLOW PROVIDED BYOPERATING ACTIVITIES		652,876		370,207
	CASH FLOWS FROM INVESTING	ACTIVITIES
	Interest received		159		800
	CASH FLOWS FROM INVESTING	ACTIVITIES
	Fixed asset additions		(788,266)		(16,532)
	Disposal proceeds		1,617
	CASH FLOWS FROM FINANCING	ACTIVITIES
	Repayments of borrowing		(15,438)		(39,798)
	NET CASH FLOW	1	(149,052)		314,677
	Change in cash and cash equivalents in the year		(149,052)		314,677
	Cash and cash equivalent at start ofthe year		713,492		398,815
	Cash and cash equivalents at	the end ofthe year	564,440		713,492
	NOTES TO THE CASHFLOW STATEMENT FOR THE YEAR ENDED 31DECEMBER		2021
2	NET CASH FLOW PROVIDED BYOPERATING ACTIVITIES
	Net movement in funds forthe year		745,820		259,865
	Interest received		(159)		(800)
	Depreciation		8,618		12,458
	Loss on disposal offixed assets		64
	(Incease)/decrease in debtors		(149,513)		19,619
	(Decrease)/increase in creditors		48,046		79,065
	Net cash flow from operating	activities	652,876		370,207
2	ANALYSIS OF CASH AND CASH EQUIVALENTS		2021		2020
			E		6
	Cash at bank and in hand		564,440		713,492
			564,440		713,492
3	ANALYSIS OF CHANGES IN NET DEBT		At		At 31
			1Jan 2021	Cash flows	31Dec2021
	Cash at bank and in hand		713,492	(149,052)	564,440
	Debt due within one year		(12,008)	(626)	(12,634)
	Debt due after one year		(701,853)	16,064	(685,789)
			(369)	(133,614)	(133,983)

3	DONATIONS AND LEGACIES	DONATIONS AND LEGACIES	Unrestricted	Restricted	Total funds	Total funds
			funds	funds	2021	2020
			6	6	6	6
	Non gift aid donations		384,357	107,081	491,438	217,240
	Gift aid donations		635,809	118,898	754,707	800,878
	Gift aid recoverable		165,108	32,396	197,504	200,573
	Special appeals		3,164		3,164	2,392
	Grant income			336,904	336,904	62,900
			1,188,438	595,279	1,783,717	1,283,983
4	CHARITABLE ACTIVITIES INCOME		Unrestricted	Restricted	Total funds	Total funds
			funds	funds	2021	2020
			6		6	6
	Church Weekend	Away	14,524		14,524	44,291
	Other event income		895		895	4,726
	Book and Media	income	8,213		8.213	19,26D
			23,632		23,632	68,277
5	STAFF COSTS				2021	2020
	Wages and salaries				442,797	384,432
	Social security costs				32,974	23,885
	Pension				22,320	17,613
	Accommodation	and other costs			19,043	23,510
					517,134	449,440

EXPENDITURE			Unrestricted	Restricted	Total funds	Total funds
			funds	funds	2021	2020
			6	6	6	6
Direct costs
Warship			27,201	3,420	30,621	23,886
Sunday services			4,161		4,161	6,274
Sang writing	and	praductian	2,627		2,627	25,013
Live events			200		200
Festival services			4,873		4,873	11,784
Prayer			2,516		2,516	12,212
Apprenticeship year						1,976
Hubs and pattern			2,517		2,517	5,589
Conferences	and	events	14,736		14,736	74,313
Family life			7,384	216	7,600	5,110
Students			3,472		3,472	1,434
Leadership	development		683		683	1,641
Pastoral			2,321		2,321	2,137
Newcomers			973		973	711
Compassian	and	local missions	9,876	6,250	16,126	28,588
Evangelism			1,506	888	2,394	556
Grants			53,785	1,062	54,847	43,300
Hub mission						300
Church Planting			2,259	2,500	4,759	28,442
Church Plantmg		—St Basil's assets gifted		76,204	76,204
Church Planting		- StSaviours assets gifted				31,262
Church Planting		- St Mary's assets gifted				36,571
KXC Facilities Ltd		(external costs)	82,839		82,839	117,609
KX Coworking Ltd (external costs(			157,667		157,667	110,321
Total direct	casts		381,596	90,540	472,136	569,029

EXPENDITURE (continued)	EXPENDITURE (continued)	EXPENDITURE (continued)	EXPENDITURE (continued)		Unrestricted	Restricted	Total funds	Total funds
					funds	funds	2021	2020
					6	6	E	E
Direct costs (see	previous page)				381,596	90,540	472,136	569,029
Support costs
venue hire					31,290	2,000	33,290	42,571
Shared equipment		and consumables			2,997		2,997	3,362
Hospitality					4,116		4,116	786
Office costs					16,848	347	17,195	21,661
Travel and subsistence					2,111		2,111	2,688
Staff training and	recruitment				12,291		12,291	11,401
Owned and leased		facilities			70,546		70,546	25,141
Finance					494		494	105
Communications	and		media		10,393		10,393	11,805
Facilities planning					14,513	5,361	19,874	14,434
Clergy housing					1,084		1,084	28,952
Curate and ordinand			costs		39,900		39,900	39,900
Wages and salaries					517,134		517,134	449,440
Common fund					85,200		85,200	85,200
Trustee expenses					891		891	854
Legal and professional				fees	7,200		7,200	870
Accountancy fee					6,194		6,194	6,898
Payroll fees					1,572		1,572	1,368
Bank charges and	loan			mterest	1,006	17,862	18,868	19,594
Depreciation					7,052		7,052	3,087
Loss on disposal					64		64
Sundry costs					600		600	579
Total support costs					833,496	25,570	859,066	770,696
Total expenditure					1,215,092	116,110	1,331,202	1,339,725

	2021	2020
	E	E
Kings Cross Church
Assembly ofGod	1,650	1,800
Bridge the Gap	1,000
Christians Against Poverty	3,700	3,700
Choices Islington	10,500	6,800
Crux Conversations	3,462
Growing Hope	10,167	11,000
UM	1,100
Liv UK	2,880	2,880
London City Mission	2,400	2,400
Open Doors	1,200	1,200
Power the Fight	1,200
Tree of Ufe	2,880
XLP	10,000	10,000
KKCoworklng Ltd
ARKfor Good	8,845
Help on Your Doorstep		1,000

		2021	2020
			E
Turnover		121,060	137,333
Administration	expenses	(84,287)	(111,120)
Distribution to King's Cross Church		(5,000)
Taxation		1,448	(6,993)
Net profit/(loss)		33,221	19,220

		2021	2020
		E	E
Turnover		268,389	241,137
Administration	expenses	(236,506)	(203,308)
Taxation		(6,221)	(6,941)
Net profit		25,662	30,888

	Land and	Leasehold		Furniture and
Charity	buildings E	impravements f	Equipment f	fittings E	Total f
COST
At beginning ofyear	827,368		28,885	1,930	858,183
Additions		737,574	9,965	39,434	786,973
Dispasals			(2,017)		(2,017)
At end ofyear	827,368	737,574	36,833	41,364	1,643,139
DEPRECIATION
At beginning ofyear			17,774	1,930	19,704
Charge for the year			6,284	768	7,052
On disposals			(336)		(336)
At end ofyear			23722	2,698	26,420
NET BOOK VALUE
At end ofyear	827,368	737,574	13,111	38,666	1,616,719
At beginning ofyear	827,368		11,111		838,479
	Land and	Leasehold		Furniture and
Group	buildings	improvements	Equipment	fittings	Total
	E	f	f	f	E
COST
At beginning afyear	827,368	191,337	29,393	15,361	1,063,459
Additions		737,574	9,965	40,727	788,266
Dispasals			(2,017)		(2,017)
At end afyear	827,368	928,911	37,341	56,088	1,849,708
DEPRECIATION
At beginning ofyear		191,337	17,972	11,347	220,656
Charge forthe year			6,453	2,165	8,618
On disposals			(336)		(336)
At end ofyear		191,337	24,089	13,512	228,938
NET BOOK VALUE
At end ofyear	827,368	737,574	13,252	42,576	1,620,770
At beginning ofyear	827,368		11,421	4,014	842,803

	NOTES TO THE	ACC	OUN	TS	FO	R THE YEAR ENDED 31DEC	EMBER 2021
10	INVESTMENTS						Group		Charity
							2021	2020	2021	2020
							E	E	E	E
	Investmentin	subsidiory			undertakings
	Historic cost at end of			year					2	2
11	DEBTORS						Group		Charity
							2021	2020	2021	2020
							E	E	E	E
	Trade debtors						22,424	7,293
	Prepayments						23,600	7,194	6,623
	Accrued income						117,500		117,500
	Amounts due from subsidiary					undertakings				13,352
	Gift aid recoverable						15,166	24,630	15,166	24,630
	Other debtors						44,489	34,549	25,739	15,799
							223,179	73,666	165,028	53,781
12	CREDITORS: amounts		falling		due	within ane year	Group		Charity
							2021	2020	2021	2020
							E	E	E	E
	Trade creditors						94,784	14,835	91,644	11,097
	Taxatian and other social				security costs		15,422	18,936
	Accruals and deferred			income			31,443	19,211	6,666	6,500
	Other creditors						84,764	125,385	81,100	121,845
	Bankloans						12,634	12,008	12,634	12,008
							239,047	190,375	192,044	151,450
13	CREDITORS: amounts		falling		due	in more than ane year	Group		Charity
							2021	2020	2021	2020
							E	E	E	E
	Bankloans						435,789	451,853	435,789	451,853
	Otherloans						250,000	250,000	250,000	250,000
							685,789	701,853	685,789	701,853

Amounts falling due far payment after	more than five years:
	Group		Charity
	2021	2020	2021	2020
	E	E	E	E
Bankloans	394,725	398,748	394,725	398,748
Otherloans	250,000	250,000	250,000	250,000
	644,725	648,748	644,725	648 748

RESTRICTED FUNDS		Funds				Funds
		b/fwd	Income	Expenditure	Transfers	c/fwd
		6		E		6
TENT		5,638		(1,420)		4,218
Building fund		1,005	272,500	(4,488)	(197,017)	72,000
Home Ground		6,717	(6,717)
Resource Church	Funding	11,513	35,000	(17,861)		28,652
St Basil's		76,204		P6,204)
KXCventure		30,000	1,950	(4,450)	(10,000)	17,500
KXCare		10,533	949	(2,782)		8,700
Rebuilders		68,387	206,386	(687)	(274,086)
Foodbank			2,990	(4,048)	1,058
COVID-19 fund			5,000	(2,708)		2,292
Claudesely Building Fund			76,238	(1,246)	(29,492)	45,500
First Fridays			983	(216)		767
TOTAL RESTRICTED FUNDS		209,997	595,279	(116,110)	(509,537	179,629

UNRESTRICTED FUNDS	UNRESTRICTED FUNDS		Funds				Funds
			b/fwd	Income	Expenditure	Transfers	c/fwd
			6	6	6	E	6
Building designated		fund	76,340		(12,913)	(63,427)
Missions designated		fund	29,799		(68,534)	89,014	50,279
Church Planting			7,295		(6)	10,000	17,289
Curate house			113,507			15,437	128,944
King's House						737,573	737,573
Growth Fund				175,000		(15,000)	160,000
Total designated	funds		226,941	175,000	(81,453)	773,597	1,094,085
KXC Facikties Ltd			8,608		(82,839)	116,060	41,829
KXCoworking Ltd			58,257	268,389	(157,667)	(85,060)	83,919
General funds			233,930	1,038,354	(893,133)	(295,060)	84,091
Total general funds			300,795	1,306,743	(1,133,639)	(264,060)	209,839
TOTAL UNRESTRICTED FUNDS			527,736	1,481,743	(1,215,092)	509,537	1,303,924

LYSIS OF	GRO	UP NET ASSETS BETWEEN FUNDS
			Unrestricted	Restricted	Total
2021			funds	funds	2021
			f	f	f
Tangible	fixed	assets	1,620,770		1,620,770
Debtors			105,679	117,500	223,179
Bank and	cash		502,311	62,129	564,440
Creditors	due	within one year	(239,047)		(239,047)
Creditors	due	in more than one year	(685,789)		(685,789)
			1,303,924	179,629	1,483,553
2020			Unrestricted	Restricted	Total
			funds	funds	2020
			E	f	E
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)		P01,853)
			527,736	209,997	737,733

	Unrestricted	Restricted	Total funds
	funds	funds	2020
INCOME
Donations and legacies	1,007,691	276,292	1,283,983
Charitable activities	68,277		68,277
KXCoworking Ltd	241,137		241,137
Investment income	800		800
Other income	5,393		5,393
TOTAL INCOME	1,323,298	276,292	1,599,590
EXPENDITURE
Charitable activities	1,129,060	210,665	1,339,725
TOTAL EXPENDITURE	1,129,060	210,665	1,339,725
NET INCOME FOR THE YEAR
BEFORETRANSFERS	194,238	65,627	259,865
TRANSFERS BETWEEN FUNDS	(43,563)	43,563
NET INCOME FOR THE YEAR	150,675	109,190	259,865
TOTAL FUND BALANCES BROUGHT FORWARD	377,061	100,807	477,868
TOTAL FUND BAiANCES CARRIED FORWARD	527,736	209,997	737,733

RESTRICTED FUNDS	RESTRICTED FUNDS		Funds				Funds
			b/fwd	Income	Expendrture	Transfers	c/fwd
			E		E	E	E
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
StSaviour's			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
UNRESTRICTED FUNDS			Funds				Funds
			b/fwd	Income	Expenditure	Transfers	c/fwd
			E		E	E	E
Buildmg 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

8elow are summarised	companies:
	2021	2020
INCOME	E	6
Donations and legacies	1,788,717	1,283,983
Charitable activities	23,632	68,277
Investment income	159	800
Other income	1,125	5,393
TOTAL INCOME	1,813,633	1,358,453
EXPENDITURE
Charitable activities	1,126,696	1,147,795
TOTAL EXPENDITURE	1,126,696	1,147,795
NET INCOME FOR THEYEAR	686,937	210,658