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2022-12-31-accounts

Page
Legal and administrative
information
Report ofthe Council 4-8
Independent
Auditors
Report		 9-12
Statement ofFinancial Activities
(including
Income 8 Expenditure		 Account) 13
Balance Sheet 14
Notes to the Financial Statements 15-32

anagement
ofthe affairs		 ofthe Company
lain Alexander
Sarah Eccleshall (resigned February 2023)
Sophie Guthrie
Frank Harper (Chairman)
Revd. Peter Hughes
Michael Kent
Revd. Canon Michael Mitton
John Parmiter
Rachel Hylton (appointed 28 Feb2022)
Company Secretary 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 King Hill Avenue
London West Mailing, Kent
N1 OPQ ME194JQ
Virgin Money
Jubilee House
Gosforth
Newcastle
upon		 Tyne
NE3 4PL

Unrestricted Restricted Total funds Total funds
Notes funds funds 2022 2021
INCOME f E E E
Donations
and legacies		 1,348,280 222,770 1,571,050 1,783,717
Charitable
activities		 9,006 9,006 23,632
KXC Facilities Ltd (external income)
KXCoworking
Ltd (external income)		 217,705 217,705 268,389
Investment
income		 1,272 1,272 159
Otherincome 44,703 44,703 1,125
TOTAL INCOME 1,620,966 222,770 1,843,736 2,077,022
EXPENDITURE
Charitable
activities		 1,471,281 70,616 1,541,897 1,331,202
TOTAL EXPENDITURE 1,471,281 70,616 1,541,897 1,331,202
NET INCOME FOR THE YEAR
BEFORETRANSFERS 149,685 152,154 301,839 745,820
TRANSFERS BETWEEN FUNDS 179,258 (179,258)
NET INCOME FOR THE YEAR 328,943 (27,104) 301,839 745,820
TOTAL FUND BALANCES BROUGHT FORWARD 1,303,924 179,629 1,483,553 737,733
TOTAL FUND BALANCES CARRIED FORWARD 14&15 1,632,867 152,525 1,785,392 1,4S3,553

Group Charity
2022 2021 2022 2021
Notes f f
FIXEDASSETS
Tangible assets 9 2,095,692 1,620,770 1,975,335 1,616,719
Investments 10 2 2
CURRENT ASSETS
Debtors 114,586 223,179 104,219 165,028
Cash at bank and in hand 723,518 564,440 689,394 453,890
838,104 787,619 793,613 618,918
CREDITORS: amounts falling
due within one year 12 (159,213) (239,047) (130,095) (192,044)
NET CURRENT ASSETS 678,891 548,572 663,518 426,874
CREDITORS: due in more than one year 13 (989,191) (685,789) (989,191) (685,789)
NET ASSETS 1,785,392 1,483,553 1,649,664 1,357,805
FUNDS
Unrestricted
funds		 15 1,632,867 1,303,924 1,497,139 1,178,176
Restricted funds 14 152,525 179,629 152,525 179,629
TOTAL FUNDS 16 1,785,392 1,483,553 1,649,664 1,357,805

CONSOLIDATED CASHFLO W STATEMENT FOR THE YEAR ENDED 31DECEMBE R 2022
2022 2021
Notes E E
NET CASH FLOW PROVIDED BYOPERATING ACTIVITIES 422,612 652,876
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received 1,272 159
CASH FLOWS FROM INVESTING ACTIVITIES
Fixed asset additions (601,124) (788,266)
Disposal proceeds 1,617
CASH FLOWS FROM FINANCING
ACTIVITIES
Additional/(repayments of) borrowing 336,318 (15,438)
NET CASH FLOW 159,078 (149,052)
Change
in cash and cash		 equivalents
in the year		 159,078 (149,052)
Cash and cash equivalent at start ofthe year 564,440 713,492
Cash and cash equivalents atthe end ofthe year 723,518 564,440
NOTES TOTHE CASHFLOW STATEMENT FOR THE YEAR ENDED 31DECEMBER 2022
1 NET CASH FLOW PROVIDED BYOPERATING ACTIVITIES
Net movement
in funds forthe year		 301,839 745,820
Interest received (1,272) (159)
Depreciation 126,202 8,618
Loss on disposal offixed assets 64
Decrease/(increase)in
debtors		 108,593 (149,513)
(Decrease)/increase
in creditors		 (112,750) 48,046
Net cash flow from operating
activities		 422,612 652,876
2 ANALYSIS OF CASH AND CASH EQUIVALENTS 2022 2021
E E
Cash at bank and in hand 723,518 564,440
723,518 564,440
3 ANALYSIS OF CHANGES
IN NET DEBT		 At At31
1Jan 2022 Cash flows 31Dec2022
Cash at bank and in hand 564,440 159,078 723,518
Debt due within one year (12,634) (32,916) (45,550)
Debt due after one year (685,789) (303,402) (989,191)
(133,983) (177,240) (311,223)

NOTES TO THE ACCOUNTS FOR THE YEAR END NOTES TO THE ACCOUNTS FOR THE YEAR END ED31DECEMBER 2022
3 DONATIONS
AND LEGACIES		 Unrestricted Restricted Total funds Total funds
funds funds 2022 2021
f f f f
Non gift aid donations 437,451 51,378 488,829 491,438
Gift aid donations 712,933 90,249 803,182 754,707
Gift aid recoverable 197,690 16,733 214,423 197,504
Special appeals 206 206 3,164
Grant income 64,410 64,410 336,904
1,348,280 222,770 1,571,050 1,783,717
4 CHARITABLE ACTIVITIES INCOME Unrestricted Restricted Total funds Total funds
funds funds 2022 2021
f f f
Church Weekend Away 1,778 1,778 14,524
Other event income 954 954 895
Book and Media income 6,274 6,274 8,213
9,006 9,006 23,632
5 STAFF COSTS 2022 2021
f f
Wages and salaries 543,778 442,797
Social security costs 42,402 32,974
Pension 27,716 22,320
Accommodation and other costs 19,298 19,043
633,194 517,134
NOTES TOTH E ACCOUNTS FOR THE YEAR ENDED 31DECEMBER2022
6 EXPENDITURE Unrestricted Restricted Total funds Total funds
funds funds 2022 2021
f f f f
Direct costs
Worship 21,352 7,607 28,959 30,621
Sunday services 9,549 596 10,145 4,161
Song writing and production 39,317 39,317 2,627
Uve events 400 400 200
Festival services 9,250 251 9,501 4,873
Prayer 2,281 576 2,857 2,516
Hubs and pattern 6,278 6,278 2,517
Conferences and events 12,618 26 12,644 14,736
Family life 8,885 1,442 10,327 7,600
Students 2,837 2,837 3,472
Leadership development 6,762 6,762 683
Women 645 645
Pastoral 1,760 18 1,778 2.321
Newcomers 1,978 1,978 973
Compassion and local missions 10,636 6,851 17,487 16,126
Evangelism 6,038 15 6,053 2,394
Grants 56,609 99 56,708 54,847
Church
Planting		 2,014 2,014 4,759
Church
Planting - St Basil's assets gifted		 76,204
KXC Facilities Ltd (external costs) 46,982 46,982 82,839
KXCoworking Ltd (external costs) 141,009 141,009 157,667
Total direct costs 387,200 17,481 404,681 472,136
NOTES TO THE ACCOUNTS FOR THE YEAR ENDE NOTES TO THE ACCOUNTS FOR THE YEAR ENDE NOTES TO THE ACCOUNTS FOR THE YEAR ENDE D 31DECEMBER2022
6 EXPENDITURE (continued) Unrestricted Restricted Total funds Total funds
fundsf funds
f		 2022
f		 2021
f
Direct costs (see previous page) 387,200 17,481 404,681 472,136
Support costs
Venue hire 24,436 150 24,586 33,290
Hire costs 5,341 5,341
Shared equipment and consumables 13,429 370 13,799 2,997
Hospitality 6,914 27 6,941 4,116
Office costs 18,190 1,743 19,933 17,195
Travel and subsistence 1,452 1,452 2,111
Staff training
and		 recruitment 22,524 1,204 23,728 12,291
Owned and leased facilities 83,797 83,797 70,546
Finance 775 32 807 494
Communications and media 7,890 1,437 9,327 10,393
Facilities planning 18,836 18,836 19,874
Clergy housing 17,945 17,945 1,084
Curate and ordinand costs 48,224 48,224 39,900
Wages and salaiies 608,259 24,935 633,194 517,134
Common fund 85,200 85,200 85,200
Trustee expenses 2,163 464 2,627 891
Legal and professional fees 5,903 1,260 7,163 7,200
Accountancy fee 7,606 7,606 6,194
Payroll fees 1,386 1,386 1,572
Bank charges and loan interest 7,464 17,298 24,762 18,868
Depreciation 96,347 4,215 100,562 7,052
Loss on disposal 64
Sundry costs 600
Total support costs 1,084,081 53,135 1,137,216 859,066
Total expenditure 1,471,281 70,616 1,541,897 1,331,202

ing the year the group made the following gran ts off1,000or more to organisations:
2022 2021
E E
I0ngs Cross Church
Assembly ofGod 1,650
Bridge the Gap 1,000
Christians
Against Poverty		 6,600 3,700
Choices Islington 10,000 10,500
Crisis UK 2,100
Crux Conversations 2,900 3,462
Growing Hope 13,100 10,167
IJM 3,200 1,100
Uv UK 2,880 2,880
London City Mission 2,600 2,400
Open Doors 1,200 1,200
Power the Fight 1,200 1,200
Soul Action South 1,800
Tearfund 1,200
Tree of Ufe 2,640 2,880
XLP 3,667 10,000
KXCoworking
Ltd
ARKfor Good 1,701 8,845

registration
nu
are summarised		 mber
is 09791527.The results ofthe company
bef
as follows:		 ore consolidation
for the year ended 31Dec		 ember 2022
2022 2021
f f
Turnover 50,000 121,060
Administration expenses (46,982) (84,287)
Distribution to King's Cross Church (45,400) (5,000)
Taxation 1,448
Net profit / (loss) (42,382) 33,221

2022 2021
f f
Turnover 228,905 268,389
Administration expenses (176,543) (236,506)
Taxation (6,221)
Net profit 52,362 25,662

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31DECE MBER 2022
9 TANGIBLE FIXEDASSETS
Land and Leasehold Furniture
and
Charity buildings improvements Equipment fittings Total
f f f f f
COST
At beginning ofyear 827,368 737,574 36,833 41,364 1,643,139
Additions 359,559 85,652 13,967 459,178
Disposals (5,737) (5,737)
At end ofyear 827,368 1,097,133 116,748 55,331 2,096,580
DEPRECIATION
At beginning ofyear 23,722 2,698 26,420
Charge forthe year 8,111 63,267 21332 7,852 100,562
On disposals (5,737) (5,737)
At end ofyear 8,111 63,267 39,317 10,550 121,245
NET BOOK VALUE
At end ofyear 819,257 1,033,866 77,431 44,781 1,975,335
At beginning ofyear 827,368 737,574 13,111 38,666 1,616,719
Land and Leasehold Furniture
and
Group buildings improvements Equipment fittings Total
f f f f f
COST
At beginning ofyear 827,368 928,911 37,341 56,088 1,849,708
Additions 498,128 85,652 17,344 601,124
Disposals (5,737) (5,737)
At end ofyear 827,368 1,427,039 117,256 73,432 2,445,095
DEPRECIATION
At beginning ofyear 191,337 24,089 13,512 228,938
Charge forthe year 8,111 86,362 21,473 10,256 126,202
On disposals (5,737) (5,737)
At end ofyear 8,111 277,699 39,825 23,768 349,403
NET BOOK VALUE
At end ofyear 819,257 1,149,340 77,431 49,664 2,095,692
At beginning ofyear 827,368 737,574 13,252 42,576 1,620,770

10 INVESTMENTS Group Charity
2022 2021 2022 2021
f f f f
investment
in subsidiary		 undertakings
Historic cost at end ofyear
11 DEBTORS Group Charity
2022 2021 2022 2021
f f f f
Trade debtors 27,475 22,424
Prepayments 29,588 23,600 27,236 6,623
Accrued income 117,500 117,500
Amounts
due from subsidiary		 undertakings 20,000
Gift aid recoverable 18,964 15,166 18,964 15,166
Other debtors 38,559 44,489 38,019 25,739
114,586 223,179 104,219 165,028
12 CREDITORS: amounts falling due within one year Group Charity
2022 2021 2022 2021
f f f f
Trade creditors 25,890 94,784 25,176 91,644
Taxation and other social security costs 7,804 15,422
Accruals and deferred income 75,017 31,443 56,541 6,666
Other creditors 4,952 84,764 2,828 81,100
Bank loans 13,262 12,634 13,262 12,634
Otherloans 32,288 32,288
159,213 239,047 130,095 192,044
13 CREDITORS: amounts falling due in more than one year Group Charity
2022 2021 2022 2021
f f f f
Bank loans 419,366 435,789 419,366 435,789
Otherloans 569,825 250,000 569,825 250,000
989,191 685,789 989,191 685,789
The bank loans is 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
2022 2021 2022 2021
f f f f
Bank loans 361,119 394,725 361,119 394,725
Otherloans 250,000 250,000 250,000 250,000
611,119 644,725 611,119 644,725

14 RESTRICTED FUNDS Funds Funds
b/fwd Income Expenditure Transfers c/fwd
f f f f f
TENT 4,218 4,218
Building fund 72,000 8,750 (80,750)
Resource Church Funding 28,652 17,500 (17,253) 28,899
KXCVentures 17,500 10,059 (59) (10,000) 17,500
KXCare 8,700 1,178 (6,738) 3,140
Rebuilders 22,377 (22,377)
COVID-19 fund 2,292 (1,186) 1,106
Cloudesely
Building Fund		 45,500 28,160 (7,529) (66,131)
First Fiidays 767 (767)
StGregory's 134,746 (37,084) 97,662
TOTAL RESTRICTED FUNDS 179,629 222,770 (70,616) (179,258) 152,525

15 UNRESTRICTED FUNDS UNRESTRICTED FUNDS Funds Funds
b/fwd Income Expenditure Transfers c/fwd
E E E E
Building designated fund
Missions designated fund 50,279 (90,741) 88,733 48,271
Church
Planting		 17,289 (25,000) 10,000 2,289
Curate house 128,944 (8,111) 16,172 137,005
King's House 737,573 (63,267) 7,445 681,751
Growth
Fund		 160,000 200,000 (51,000) 309,000
Total designated funds 1,094,085 200,000 (187,119) 71,350 1,178,316
KXC Facilities Ltd 41,829 (46,982) 4,600 (553)
KXCoworking
Ltd		 83,919 217,705 (141,009) (24,334) 136,281
General funds 84,091 1,203,261 (1,096,171) 127,642 318,823
Total general funds 209,839 1,420,966 (1,284,162) 107,908 454,551
TOTAL UNRESTRICTED FUNDS 1,303,924 1,620,966 (1,471,281) 179,258 1,632,867

ALYSIS OF GROUP NET ASSETS BETWEEN FUNDS
Unrestricted Restricted Total
2022 funds funds 2022
f f f
Tangible fixed assets 2,095,692 2,095,692
Debtors 114,250 336 114,586
Bank and cash 554,033 169,485 723,518
Creditors due within one year (141,917) (17,2961 (159,213)
Creditors due in more than one year (989,191) (989,191)
1,632,867 152,525 1,785,392
2021 Unrestricted Restricted Total
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

Unrestricted Restricted Total funds
funds funds 2021
INCOME
Donations
and legacies		 1,188,438 595,279 1,783,717
Charitable
activities		 23,632 23,632
KXCoworking
Ltd		 268,389 268,389
Investment
income		 159 159
Otherincome 1,125 1,125
TOTAL INCOME 1,481,743 595,279 2,077,022
EXPENDITURE
Charitable
activities		 1,215,092 116,110 1,331,202
TOTAL EXPENDITURE 1,215,092 116,110 1,331,202
NET INCOME FOR THE YEAR
BEFORETRANSFERS 266,651 479,169 745,820
TRANSFERS BETWEEN FUNDS 509,537 (509,537)
NET INCOME FOR THE YEAR 776,188 (30,368) 745,820
TOTAL FUND BALANCES BROUGHT FORWARD 527,736 209,997 737,733
TOTAL FUND BALANCES CARRIED FORWARD 1,303,924 179,629 1,483,553

RESTRICTED FUNDS RESTRICTED FUNDS Funds Funds
b/fwd Income Expenditure Transfers c/fwd
f f f f f
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 (76,204)
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
Cloudesely
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 Funds Funds
b/fwd Income Expenditure Transfers c/fwd
f f f f
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 Facilities 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

2022 2021
INCOME E E
Donations
and legacies		 1,616,984 1,788,717
Charitable
activities		 9,006 23,632
Investment
income		 1,272 159
Other income 44,703 1,125
TOTAL INCOME 1,671,965 1,813,633
EXPENDITURE
Charitable
activities		 1,380,106 1,126,696
TOTAL EXPENDITURE 1,380,106 1,126,696
NET INCOME FOR THE YEAR 291,859 686,937