## ||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|