KXC Kings Cross Church (KXC) Company limited by guarantee Report and Audited Financial Statements For the year ended 31 December 2023 Company Registration Number 07416629 Charity Number 1141658
Kin&4 c.ross Churrh Contents Page Legal and adminiBtratlve inlom)atlon Rèport ol thè Council 4-10 Indopendent Examiners Report ststement of Financial Activitie5 lincludlng Income & ExpeDdtture A¢¢ounti 8alan¢e Sheel 15 16 Note$ to th• Flnancial Statements 17-34 Page 20110
Kings Cr055 Church al and admlnlstr•tive infonnation Status.. Kings Cross Church is a chanlable company limited by guarantee. incorporated on 22 October 2010 and regi%tel as a charily on S May 2011. The Council Ire5ponsibbe for th* management of the affalrs of the Company).. la'n eXder Sophie Guthrie F..ank Harper Ichairnianl Revd. Peter Hugffts Michael Kent Revd Canon Michael Mitton Johi Parrniter Ichel Hylton Company Steretary Richard Spens Company Numb•r 07416629 Charily Number 1141658 Reglstored Office 242 P8ntonvifi• Road London N1 9NG Church Leadern Ir•sponsible for leadership of the church's acllvltlesl Revd Pder Hughe$ and Mrs 8ee Hughes Bankers Natwost Bank Upger Slreel London N1 OPQ CAF 8afjk 25 Kings H1 Avenue est Malling Kent ME194JQ Virgin Money Jubilee Hobse Gosfortn Newcaslle upon Tyne NE3 4PL The Kingdom Bank Mla House Padge Road Notliryham NG9 2RS CCLA Inveslment Managemenl 1 Angel Ln Lon(k)n EC4R 3AB Indèpendent Auditor Chris G¢odhead FCA Knight Goodhead Ltd 7 8ournemouth Road Chandle."'s Fcrfd Hampshire S053 3DA Page 3 of10
kings Church Report of the Council for the year ended 31 December 2023 The Council presents its report and the financial slalement5 lor Ihe year ended 31 Decèmber 2023. Govem nee Structu and Mana me Governing Document.. The company was established under a Memorandum of Association that established its objects and powers and is governed under rfs ArtLks ol Association. embèrs ol the charrtable company guarantee lo contribute an amount not exceedin9 £1 to the assets ol the charitable company in the event of winding up. The total number ol su¢h 9uafanlees al 31 De¢ember 2023 was 8. Structure.. The Council is responsible lor the governance and management ol the Church. 11 has delegated resporisibilily lor leadership of the church s ac.tivitEs. development ol Ils spirrtual life ancl Its daily mariagement to the Church Lèaders who are sijpported in that role by the staff and a Leadership Team. The Council relains lo itself final decisions over policies, employment ol stall and finawi¢e. and lakes resp)nsibility lor all matters of le931 and rÈgiilatory compliance. Membèrs ol Ihe Council gwe (heir time voltsnlaiily and receive no financial benofit from the charity except as dtsclosed In the aGcounls Council Memb6ars are usually appointed by Ihc Council and can be appoinied by ordinary resolulion al d general meeting ol Members. Members ol Ihe Council receive all mandatory training in line wrth leg81 and diocesan requirements. Management: The members ol the Council are diectOrS lof Ihe purpose of company law and Iruslees for the puipose ol Charity law. Members ol the Council are drawn from Ihe Wer Christian community. both nr(lained and L4y members They bring a mix of professional skills such as business managemeni. propety. law and finarsce a$ well as those associated with church growth and social outreach. KXC'S key management person1 (known as thè Assoeiate Teaml comprises 3 senior CrgY ILead Paslor. A$50ciale Vicar and Associate Paslorl and 3 employees of KXC ILead Pastor. Network and Piojecls Director anij Operations Director). All clergy salaries and remuiieral¥)n are set and managed by the Church of England. KXC empkiyees, salaries are set and approved by the HR Subcommillee13 members of the Council and operatnS Director) and key managemenl personnel Salar$ ale sel by the HR Subcommrtiee IwithoLrt the OperatK)ns Director s Involvemenll Risk Management-. The Council conducts an annual ievEw ol the major risks to which the charity is exposed and system5 are eslablished or Tevised lo miligale those risks. Internal financial risks are manaoed by the implemenlalion of financial procedures for the colleclion. banking and recording of all donations and Ihe aulhorisalion and rocording ol all expenditure The company has two Safeguarding Officers and a Safeguarding Policy. The company also has a data proteclron policy Irè¢ently upojaled to reflect GDPR regul31ionsl- Page4 of1D
Kin2% C'ross C.'hurLh vesa etivities King's Cross Church is a network church wrth a local vision Its serve God's purpose to make all things new. We lo engage with those who INQ. work or pass through King's Cross. and develop Missnal looL8 lo engage th the emerging so¢io-ecDnomic pattems ross the King's Cross L4n¢Jscape. Our desire i8 to devek)p discipbs who live in and live out the story ol God. lolk>wing the way of Jesus wth a redemptive vision to servè God ally lin King'8 Grossl as well as across the city In Ihcif workpl8ce. universrties and neighbourhoods The company is a charty and exists to promote Ihe Chrislian Faith and all8viattr suffering accor(Jing lo the missiori ol the Church ol Er,gland and the values and lenels ol the Anglican CommunK)n suminarised in resolution 3 1 01 the third Lambeth conference follo%ying the Chicago-Lambelh quadrilateral In October 2018. KXC was designated a ResoiiT¢e Church wrthin the Diocese of l.ondon Resource Churches awe asked lo resource olher bcal churches through planting revilalisation, and support %vilh other resources In addition lo this. a neiv BMO was signed in the summer of 2019 that provKfes an indefinite provision for KXC ivilhin the wider nel%York of parish churches around King s Cross. Publ Benefft When planning our aclivrts we take account of the Charrty Commission's guidance on publi¢ benefit and Ils Specif guanCe on charities for Ihe adv8ncemenl ol religion Our aclivilies are publiisecj on oui website The Charity benefits the general public In provision ol Ihe following. publ stsrvices ol worship lincludino prayef meetin9s1', Public celebralions DI the Christian Festivals.. Rel#3ious lea¢hing lo enlighten the public about the Chrisliai? Farth whother by lecture, production ol liternlure. evangelbstK events or Christian Confences. Leddership training. Aid Iwhelhei In the form ol gcods 01 serviccsi". Funds lor the relièf ol sickness. hardship or distress" Guided actNities lor students. youth. children and Vulnerab people in general. lèv The ¢hurch's actNilies loeused on bedding into the venue and exploring the missional impact of the new location, as well as adapting lo the growth of the congregation acr055 multiple areas as shown below. Presence We continued hosting 4 Sunday SeNtss in our venue thfoughout Ihe year and Saw the church grow significantty to 1080 In average church sEe We published an album at the start of the year thal reached audiences world-wide. We started a Monday 'Sanctuary' relleclive seNice each vieek during the lunch- time bleak lor members o,, the congregatn lo come and worship during the day. 'Seek Fi1.. our weekty prayer and worship nrght. continued lo grow, attracting individuals from beyond our congregalion We started partnered with external Page 5 of10
l¥ings C."roys Church organisations such as Open Doors to host worship nhiS wrth a special locus on Gkjbai Missn. Won Song of the Year at the SlepFWID Awards for 'Pull Me Throuyh, Vve hekl a 'Seek Fir51' live recording sessKJn with a view to releasing an album of the recordings in 2024 We began a partnership wlth two London Churches and held several'Joinl Prayer Gatherings,. including an overnight galtErirMJ whh saw hundred8 of adutts ioin. We eontinued lo Iple stream se$ through 'KXC Online.. In 2023 we had a tolal 0166.353 views on YouTube videos and gained 505 new subscribers on our Youlube channel. Formalion We launched our 2C12312024 internship year with 10 'appfenlices' ioining the stall teaffl lor a year across Olir varKJus Strearns. lo gain real behind-lhe-scenes church life exFerience, leaching and leadership training Our weekly NewrnerS Hub and lermly NevLomers Meals weie a real success. wrth numbers reaching over 50 in weckly attendance lorthe former and allendance of 75+ for the latter Our Hub Groups conlinued lo meet in porson. with around 500 people regularly atleTTding 40+ hubs. We continued lo encourage the Pattem rescmjrce for sm8lkgroup diseipleship, and developed nèw matèrial for leadehIp devek)pmenl wilhin Ihe church. The student communty conlinueil to grow. and we held a Student Weekend away in eaY 2023 for around 50 01 the group. Family We saw a new wave ol giovrth across our lamity Initiatives an increase in creche- aged thiren al our 10am serVe. a neY4 Youth Hub and arDund 15-20 Youth attending re9ul8rty. Our weekly parentslcareis and trabÈs group saw around 20- 30 young children atterd each week. • Roceived a grant towards families work. meaning we were abk lo appoint a new Stream Lead overseetng our lamilies team. Mission We opered a 'Community Cafe. gpgce on a Thursday aftemoon in our venue where members ol Ihe publ can o)me In and enjoy a free tp ol coffee, some snacks. play some iard games and chal to s18ff memtyers. This has bee particularly signiftant with engaging with some vulnerable members of the public. helping lo reduce loneliness and Isolation by bringing theTn Inlo community. There's been ongoing grovh in our work with refugees & 35ylurn seekers - every week there is now a football project. an internatK)nal cafe, and ESOL langua9e classes - each growing and well-attended. We have continued prov¥Jing a weekty SurKlay brunch project IKX Bruh) foi people aff8¢ted by hometessness Guests enjoy bacon ro115. wrridge and frurt in a safe and wetoming environment. seThing on average 25 guests a week. In 2Ck23 we gave out 38 grants 01 £300 a time lon average) through our Kxcare Fund - a fund for those In our community who are experiencing financial hardship Eligibilrty criteria is evbyence baw and we use the categories ol Housing. Food. Fuel. Mental Health. Physical He3tth and Domestic or Extemal Abuse. We have continued sending teams into HMP Pentonville to Support the Chaplaincy wrth their weekly grouF6 and Sunday seTViC*S. We also have continued partnering Page 6 or io
Kintrs Cru5s Church with The Message Trust to provHte a weekw support group for prison leavers, liasing with the Probalh?n Servv lo spirrtually an(J practallY support those who have recently Seti pron. We weTe Is$ with a grant lo hire an addilional member of the team as a Community Advocate lo 4KJrk with refugees & asylum seekers Recmttmenl process for Ihis comrllenced at the end of 2023. We continued to develop partnerships wrth Growing Hope, LCM. Chokes and Crux Patbcular highl3hls have been seeing the range of viilnerable adLJIIs, families and Individuals who have come through our dcM)rs and who are able to access these servKes. Growing Hope King's Cross experEnced a huge inerea$e in the number of referrals for therapy $upport12022 - 167 referrals and 2023 - 331 referrals). We expanded our speech and L4ngu8ge ther8py ProvisIn in response lo increased demand ol referrals forsupport. The GHKX clinic now runs Monday-Thursday in King's House. with some additional sessK)ns offored online. We welcomed 42 external hires to OUN Upper Room venue Hirers InclLJded the HeathepWk stud$. Riveis of Life {Church community fol Arabr speaking Chrisliansl, MedKins Sans Fronlieres. Mc¥Jels of Diversity, Sofar Sounds. Fawcell Society and Newcastle Universty amongst others. We ran Alpha COLtrses Ihroughout the year. ARK, a KXC business ministry. offers an afkjrdable o)working 3Poce prK)rilising communrty and colLgbofaIn lo Impacl our k)cal area for good. OperalirNJ from All Saints Church hall, ARK hosts around 60 indivJuals inc111ng ¢alIve$. remote workers. charrties. startups, and so¢ial enterprises addressing 8ocial and environmental Issues In 2023 ARK joined the Mayor's BJ5iness Climatè Challenge lo reduce enargy consiimption and promoie building de¢arbonizalK)n. This initiative. along wlh grants. enabl the inslallatw)n of 52 solar pancls on their roof. ARK also re¢ertified as a B Corpoialion. ioinetl Ihe Social Inteiprise NL.l¥vork. Cally Traders Association and GLA'S Good Work Siandard, hosted a KXC art exhibition. and provided a work rnsighl day lor a local school. Bursari88 weie awarded lo Individuals in financial hardship. and spARK supported two enlreprencurs wilh business Kleas aiTlled al local impact. Through the ARK for Good givinq program £6.6k w8s donaled lo charit$ KX Ventures Is a ministry thal fosl?rs a ciilture ol pioneering wthin the church. Throughout the year. It has 5UPPOrtè¢f congregation members with workshops community groups. and leslinionies ol pioneering Groups attended the Wonderful Conference and Renaissance al SAINT. which led io the unch of Kxcreates. an iniliat've supporting creatives pur5uiiig God's renewal in the creative arts. Operations Appointed a new Operalions Director with expertise in HR. Chiislmas services. held 3 Christmas carol serVIS in a local theatre. with a 501d- out seal,.ng capacity ol circa 1.300 tickets We also held an open air carol extravaganza In the middle of a busy square #i Kings Cffjss. IA'iklfires is a Christian festival hosted on the Wston House estate each year In 2022 we hosled around 380 ofthc TABLE Network at the event. Inviled exlernal speakers to come in lo train staff and wider TABLE Network staff. Digplayed a ptaque in Kings House. ¢tsmmemorating King Charles. visit lo Kings House in Oecember 2022 Page 7of 10
King% C-ross C'hurih Future strategy and plans: The future plans ol King's Cross Church are shaped by the Bishop's Mission Order that was signed in 2019, focused on an upjaled Area ol Mission. We are looking lo continue to devekjp our work in Ihe I1 communty serving the indivKluals with a background in homelessness. refttgees and asylum seekeis. young people al risk ol crime, single mothers or famil$ with low income. aThJ other vulnerable gffjups who fi1 thèm.4elves In cycks of povety. We also aim to deveklp our work with students. the local business omrnunity. and young familios in and around the King's Cross area ol London A key further issue includes space 5)r Sunday seNIGes. In 2023 our average church Size attendance has grown to cir¢a 1080 peopk each wèek. and we are still exploring opti)ns for ¢realing room for others lo join. As a Resource ChUh. we also wish to continue lo •xpknTe opportunlt6e$ for Planting nd for developing resources to bc shared wrth Ih@ der Church. Towards the end of 2023 we startcd èxploring discussK)ns around pLanting a church in Stockwell. Soulh London with ¢oncrete project plans and appoinlmenl of a leader being In place for early 2024. Risk Management Members ol the Council txintinualty review the risks and have a risk managemènt slralegy in place to ensure appiopriate procedures are In place lo pjenlify, monitor and r8Vi8w Ihe¥e ri8ks on a regular basis. A conlinudl rcview ol the risks both financial and nrjftrational the charity may lace is perfomed by the Operations Director In conjUnctn with members of the Council. enablkng the establishment ol systems <ind procedures ro mitffjaie any risks that have been Mlentikd. Procedures are ImpMented through consullal•)n with members ofthe Council lo minimise any w)tential impacl on the charity shoukl those risks malori81ise. Major risks are Cor*ere(l to be those that may have a signifie8nt imp8¢t on.. Operaiional performance. including iisks ID employees. volunteers. the children supported and repulalion. Financial suslainabilty, including stability and security ol Income". The aChvment of aims and objecLwes Fundraising In line with the reporting requwements included in the Charittes Acl 2016, members of Council confirm that all fundraising is done in tt¢mpliance with lundraising best practice. All lundraising actwities are in line wlh the vision, values and missn of KXC. During 2023 we dKI not employ any professiorbal ILindfaisers with all funds being received through general giving. gift day appeals and ministy Specif grant applicalions. KXC received no compLqinls or critrisms during the year about it's fundraising aclwities or practices. Paoe 8 of 10
Kin%5 c'ru Church Flnancial Revlew The income for the period am(>unled fo £1.990,114 12022 £1.843.7361. Most of the income is from gifts from church rMbers. SUPPOrters and associ8ted gfft aid receipts. ExperK1itU for the year iolals £1.878.90212022.. £1,541.897) resutting in a suiplus for the year of £111,212 12022.. Su1$ of £301,839). Total funds al the year end totalled £1,896,604, which incltmjed restitled funds of£74.491. Giving policy- The church's policy is to give away al least 10°/D ol regular gNing Inrne lo partner organisations in furtherance of the church's own charitable objects, and lo commit not ress than IO% lo other Church- missK)nal aclivilies. Giving (see Mission) has been In fvrtherance ol the Christian fath and the Telf ol poverty and hardship This is over and above the contribUt)n lo the Dicw of London Cownrrbon Fund. The giving to partner organisaiions is tracked via the missnS desi9naled fund (see Note 16 in the financial statements.) Thk% year the church has not given away the full 10,19 01 donated income, so &Jdrtional funds have been sel aside lo be spent In 2024 las shown by the 118nsler into thi8 fund). The remainin9 1 OOA of donaled Income is used lo fund community engagement activi118S carried Oui ty KXC Ihiough staffing costs directly related to those aclivilies. Investment policy.. The Council periodically reviews ils inveslrrent tx)Iicy Inv•stm•nts currently placed with a range ol banks, an¢J In our Curale house al 479a Liverpool Road. Reserves Poli¢y- The Council has eslabllshed a polcy v•th8r8by the unrestled funds not commrtled or invested in tangible fixed assets {'the Im re8erves'l hehj by the charity $houkl bo in the range of 3-12 months of the resources expected to be expended,. this equates lo approximately E435.092 10 £1 .740 366 in general funds. At thts v&1, the Council feels Ihgt it would be able to continue Ihe Guiient aclivitres of the charrty In Ihe event of a significant drop In funding. shou this happen, il woukl also be necessary lo consider how the lunding would be repLgCèd or activities changed At present the unrestricted free reserves amount lo £404,746 which is just bekjw the largel range Page g of 10
C'n)5 Church
nslbilitie8
f the Councll In relatton lo
e Flnanclal Statemènts
The Council Klembers (who are also direclors ol the Company foi purposes ol company
lawl arg responsible for prepaitng the reFQrt and the financial statements in accordance
with applicable law and United Kingdom Accounting Standards (United Kingdom
Geiieralty Accepted Accounting pra8>.
Company law requirès Ihe Council lo prepare financial statements for each financial yoar
thal give a Irue and lair view ol the Stale of affrdirs ol the charitable ComnY as at the
balance sheet dale and of ils IncA)ming resources and 8pplical+on of resOUe$, in¢ludlng
kncome and expendituie, lor the financi81 perK)d reported. In preparing those financial
Slalemenls. the Council should follow best practKe and
select sijilable accounring poIleS arrtl then apply Ihern consislenlly.,
obs&rve the methods and principles in Ihe Charities SORP.
make iudgmenls and cstimates Ihal arÈ reasoriabse and prudent.,
slalc whether applicable UK Accounting Standards h
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF KINGSCROSS CHURCH (Company l.miied 4y Eiioran'.ee and ry)1 diavj-g a sbare capital) Opinion We havÈ audlted the flnancial stateTrents of KiTrg5 Cros% Ctrurch Iihe compary and the groupl for the year ended 310ecemlMr 2023, which totrprige the Corwlldaied Srarement of Flnanc'al Act'.vities. Consolided Balance Shpei, Con501idatÈd Cashflow Sldtemer: a?d the related notes. fhe.Inancial ieportin8 framÈwork thai has been applitd in rhoir preparation IS aJp icable law and United Kin8dom kcoi.niin8 513ndards ircluding Flnancial RewrrirR Stanthrd 102." Tie Finèntial RÈSM>rtin8 StaTidard 3pplkable ro the UK and Republic of Ireland IUited Kingdom Genera.ty Atiepted kcomtiryq Prariiiel. Thi5 report Is made 501ely to the cornpaAy's members. as 3 L(ty, In actordante vliih Chapter 3 nf Pari 16 of the Companie5 Act 2006. Our audit work IK&en Linoerttken so Iha¢ Nve mighr sraie to The company s member5 those m?tte15 we ale reou red to State to thpm ID an audiior's report ano for no other prpose. To the fullest erti peryyitted by law. we do no: accept or a55ump re5pon5ioility ro arryone other rhan rhe ompany and the comp3ny's members kn d bo(ty. fur OJr adi[ work, lor lhis rptK)pt, or f1 +he opininns we have formed. In our opinion, Ihe finèncial 5tatemei)ts-. Kive a tiue and lair view of rhe stare of the 8lOUtb's and the tharitable company's 3ifalrs a5 Ot 31 Deber 2023. antj of ts income and expenditure fo" rhe year then 0ed. be¥n property PfeDare¢ In accnrdinc• %yiih Uiited KinRdom Genefally Accepted Accounting Practice,. anij have prepared in hccordance with the rewirefflenr5 of Ihe Companie5Aci 2CO6, Basls olopinlo We condijttpd Dur audif in accordance with Intern Dnal SianddTds un AvditinR IUKI 11SAs IUKII and applicable law. Our rnsibIlItieS vider Ise standar¢% are furthpr dpsriised in thc Auditor's responsibililies for rhe audir of Ihe fifianc al siatenienis Section of our report Wp are iiidependeni of rhe Charity ill dtrordance With the erhical rvquirements thai are rel&anl to our audit ol thc financial slaieme.nis '.he FRC'S Erhical SiaftdArd. and we nève fJifi'led C¥br oih•r ethical resllonsibililies in aLcoft1ance wi:b. these requiremenis We belie¥e thar thc audlr evidence we have obtaiiied is sulliclent 3nd appropridie io provide è b3515 forour opinio Conclusborb5 relating tO8oJn8 contevn In auditin8 thp. fir.a131 s:atemeris, have Loncluded:hai:h.eiriistees' use of the Éoing con<ern basis of èccoufjtin8 In rhe preparaiio o ihe tiancia' 51alemlIS is aop¢opriate. 8ased on the wurk we have performed. we have not Identified any lnaier.al uncertaillt'.es rÈlating to entS 'v or col..e(live*. niaycasl 5i8nif.cant doJb", on Ilie charitabletD(npany's ability 10 COfjPinve as a Boing Coern for a period of at leasi 12 mnths from when the finarti3151atements are author15eé for issue. Our resoon5itmlities andthe resnbIlitieS of thetrLtsteÈ% with respéft to 8Oln8 contern are described In Ihe relevant section5 of thi5 rett.
INDEPENDENT ALIDITORS. REPORT TOTHE MEM8ERSOF KINGS CROSSCHURCH Icompany IimitÈc by giiarantpe aid wt P3vir..g 3 5Fare capiiall Other inlormatkn The trtee5 are re5FXFnsit&le lor rhe other inforrnèrion The other infomiarion ¢otnprise5 rhp information included ill the annual rewrt other Ih3n the fin3nci3151¥&emert5 hno our audiiorfs report Ihereon. Our opirnionon tÈ Iinanciol staremÈni% does noi tOverineotherinhrm&ion and. pxcept iorie extent orhefWi5e explicitly stated in OUf report. dD nor expre55 any lorni of assur3nte conclusion therÈon. Our iÈswTrsibility Is to re.ad the Diher info'tnation in doiyg 50, Co[lder whEthpr Ihe otler Information Is m8ierially Incons1Ste.Ir with 14p Iiiancia starernents orouT knowledRe obtained in rhe audit or oih@rwise appears to be rnalerièlly misstated. It we idenrify suth mateTi&I .rKon5iste4es or apparent IraleriRI rni55rèteenls. we are requiréd io dÈtermine whether there 1$ 3 material lTrii851dtement in the financial statements or a materSal misstatement of the orher inform31ian. If. base(l on the work we have porforrned. we conclude that there Is 3 ma4erièl missiatement of ills other Inlomiion we a required to rep)rt thar We have nothin to report inthls re8artl Oplnions on oiher mattevs pres£rlbed bythe CompaniesAct 2006 In our Opinion. basedon tne work updertaken in the course of the audit.. rhe information 8iven In the I'ustees. rert lor Ihe fin•Kial year for which the financiil staipmwntS are prered 1% ronsisteni %¥ith the finar(Jal Slaiements.- ane ebE trbstee5' rewrt has been prepared in accordance with 4ppli(able legal requifemenis. Matters on which we are required io rÈport ty exceptlon We have nothipg io report in respect ol Ihe fol.'owiry8 mailer5 where the Companies Act 2006 re4Dirc5 LJS to fewrt to you il, in ourotynion.. the Company ho5 not ketst adeouate ènd siilfitieni accounring records. or reiurns èdqLJate for our ,iudit have t been reteiyed from brarKhes not visiled by us.. or rhe company's financial staiemerns are not In AgrpemeDi wilh the accountlDK records and rerurns,. iertain di%k)sures ol irustees, remuneration specified by law a,"v not maée. or we h&e not recewed all the Inforryiaiiofj a?¢J explanaiiDns we reqinre for Ouf audit,. or the irLsieps were not entirled to pretpare ine fir.ancial statem?nts in accord3r,ce with the small cornpanie5 re8imo and take advanr&8eof tiie Small iompanies exemption in preparine the Trusiees, AnrnL1a Report and lake sdvantège of tie small CoiyioaD'e5 exemption from ttre reqiiifcrneni to prepare 3 Strategic rert. Responsibilitles of the tru5rees As explained more fijlly in tFe trusiees, re5w)nsil'tles statennt, the tru51ee5 aro reswnsible for Ihe preparnrion of the ftnarKial stemenrs foi beir* saiisfied rhat t 8ive a true and lasr ew. and for sh intÉmal contml a5 thw deiermioe Is ceSSary to eats the preparation Df financial statemet)ts that are free irom Mateal mlsstatfftnt, whtthèr dueto Irawl oreThor.
INDEPENDENT AUDITORS. REPORT TO THE MEM8ERS OF KINGS CROSS CHLIRCH Icompoiy Ilpiiied by guarantee an¢ . hav1r a share cap4tall In preparin8 the flnatal llaternents. the trLtstee5 we resw)nsible far assessing Ihe charttable companv's ability to conrinue as a corKefn. as appIae. maitors related to goin8 concerii and uslng the going corKem basi5 of cOLtn8 UsS the'.rix5tees eiiher intend to liquidate rhe charitable companv or cease opEratlOn5. or have no fealistic ahe"rative but rD th $0. Audito5 responsibillwes for ihe audit of thefiTrancial statements We have been appo.nted as audTrlOi under Ihe Companie5 A(t 2006 and report in accordanie with the Act nd relevant reBvlaiions rnade or having e¥fett therebiide". Our objectives are to obièin ieasonable 355urance aboui whether the fiianciiil statements 35 a whole are free from merial missiaigmpnl. whether due 10 fr&Jd ore.rror and t01$5ue an dudiiorfs rewrtihat iludeS ouroyinion. Reèsonable assurance 1% a hi8h I1 of assurance. bui 15 not a Ebarantee that an audit c(Jnducted In accordIe Wit ISA5 IUKI will always deleti a piaierial misstatement when Il exisr5. Mi%stateiiient& cali arlse from fraud or [ror ai)d are con51dered ma'.trièl If. Individual Of n the aggregiito. they could asonably be expe¢ted 10 Ipllb•Kè th orK)n decisions of ijsers raken on the basi5 ol IhesL, Iifjancial 5tattmerrts. Irre8ularitSes. Intludln8 we inste5 of Trrfo[Plafftte with IM and regulations. WE isl&n precedure51Th Ilne wkh our re5)stlItIe% ovflincd al)ve. to del1 material w. sstateiieois In re5pe¢t ol IrreBular•tles. incrIn1 fratd. extent to wh our proceduw are capable ol aeif¥ting Irfe8ularities, includin8 Irau¢J is detailed below-. The enKa%emeftt partner en%iJrprt th¥t th• to•m collettivp.ty nad the tywupil¥le comJereKo, c•pabilltie& and ski15 to idertlfy orSe In&t0Mpl•¢ with applicable laws •nd re8ulJtion8. We Idontilied the laws arn regulèiion5 applicable '.0 Ihe charitable cornpany Ihfou8h discussions witb Iru51ee5 and Dihep mana8emén¢ and we assesseo ihe eent ol r.oTtyiilnie wi:h Ilie laws and ie¥vlaiions Identified above through mèkinÉ enouirieg ol maiiagemeni and in5peci n8 legal fleSpOndent0. We a55essed the susceptlbtlity of the Ih•dtable compjrty's financial stat•nen¢s to rnaterihl mlssratemv.ni, includ5ng obialnlry i)n vndetstanding ol Irdud mi8hi occur. by aki enqiiirie5 01 mèn4eemtnr a5 to where they COAsidered rwre wa5 Stffjcepribiliiy 10 f'aud. thdr knowled8e of actual siAspecteu and aiie8èd fraud antl conslderlng Ihe Internaf tontrois In ace to niiieate ris%% of *raud and N)n.cOmlnc wilh laws and regUlatior. ro addre55 the risk of frau(I through ryiayagement bas aiid override of coitm15. perforriied ana11¢al procÈdures Io IeIl any unusual or uroApecied rela1nShIps. te51ed ,ourral eniries ro ioentily uniisual transacrions and inwes118aied the rationale behin¢ $18nificaYi or unusua.. Iran5&tiotbs. In response lo rhe risk of 1rre8ularitl and l-CoMpli8ntÉ wih law5 and rp8ulation5. we dÈ5igned orecedures which luded, but were not limited to.. a8reeing financial statement d15closure.s to underlying supwrtin8 documÈntation', reading tbe rninutes ol rneeiin8s of rhose chèrgod Wilh govemante. and enquiring OF management as 10 arrual and potenti31 Iiri8alion and cl3iTrs.
INDEPENDENT AUDITORS. REPORT TOTHE MEMBERS OF KINGS CROSS CHURCH (Company limited by guh.'artee and not ha¥iPE J Siiore capital) There are inherent nlatIonS in our audir procÈdures desrr bed above. TIP rore n)ved that laws and re8ulations are frDm financial tran5aniry. the less like Il 1S th3r we would beconic aware non- iompliance. Auditing Slandard5 also limi¢ rheaudii Jrocedures requireé to Identify ncin.compliance with laws nd regulations 10 enquiry of the trv%iees and other mènagempqt hnd the inspection of regulatory legal corre.sponoence, If arv. Material misstaterrent5 that ari.£e io fautJ can be harder Ii) derecr than those tbai èlise from error a5 they may involve deliberare conteaimonr or LoIIu510n. further clÈscripiio?olourresponsibil-ties'.or bpe aiJdpto4rhe illatKièl 51aremew5 15'0caredoY Ihe Fina131 Repurting Council's web:e ai." h Wh.fr¢.0[ alit-asS rtye f Thi5 d¢scriDtion forms pdrt Df Our a.'di'.0rfs reJort. Kni8ht Grx)dhead Limlted is eli8lble for appointme.11 as Buditor of ihe charitable corn7¥ by virtue of Its ellgiknljty for appointment as auditor of a compariy under sea+on 1212 01 Ihv CornpaThes Ac¥ 2fXJ6. Use of our report Thi% ieport 1$ mède Sole to the rhariiabl*compagy's mernbers. a5 a body. Tn rtcordante wlh Ch3pier 3 or Part 16 01 tho Companies Ait 20(hS. Our audr wJrk has been undertaken so ihat wg mllnl stète lo the ch8fitable company's TThernbe tT05e mailers we are"equired to slate 10 theffl in an 8uditorf5 rppofl rind for lltsothor purpose. Ioihe liJllp5t exrent permitted b¥1w. we do roi acceptor•s3ut71o responsibiliryroonyonp other than rhe Inariiable conip¥rfs members a b¢¥ly. far Dur audll for Ihls fewrt. or for Ihe opinions we have f(Jrryied. CJ G¢)odhead FCA Stnior Statutory Auditor Knlght Goodhead Llmrted ChrtrQd AccoJptan-.s at'cl Staturory Auditors 7 8ourneniouth Road, Chandlerfs ¢ord. Eastleigh. Hampshire. SO53 3DA C 6 sepl4j ZJ"L 14
KINGS CROSS CHURCH Icompany limited by guaraptee and having shaTe rApitall CONSOLIDATED STATEMENT OF FINANUAL ACTIVITIES FOR THE YEAR EflOEO 31 DECEMBER 2023 Utsre5trirted Re5trj¢tÈd Totalfund5 Total funds r4otes lurtds 2023 2012 INCOME DonatlOn5and 1.507.819 72.198 1.5AO,617 1.57L.050 9,006 39.S75 39.S75 2ul.670 9.667 XX Co'woTki-É Ltd [exterr1 (Ml lTrvesirnrnl irKomp 251.67U 217.7 9.667 llihèi ncomÈ 37.47J 37.473 44.703 TOTAL INLOME 1.9J7.316 72.79B L9X).It4 843,?16 EXPENDITURE Charitable actiwlips 1.140.366 131.936 L878.502 1.541,B97 TOTAL EXPFNDifvRE 1.740,366 &536 87 9)1 PIET INCOME FOR THE YEAR PEFORE TRANSFERS 176.950 301,839 TPANSFERS BEIWEEN FUPIDS 12.296 Ill6) f4ET INCOME FOR THE YEJJI IX9.24è 178.Q341 3DI,839 ToTL FUIID DALAP4CES BROUGHT FOHWA4D 1.633.867 IS2.525 1,785,39Y 1.483.SS3 TOTAL FUND BALANCESCARRIED FORWARD 14&15 IA22,113 74.491 L785.392 The 51aremtrnt ol financ1 actNities includE5all 8•in5 and losse%rewÉniied In year. All in<omi' vxwnorturp derNÈs trom con1ul£dlliV11$ 15
KfNGS CROSS cuRCH Icompany Iimiied by guaraniee and tM)t ha¥inK5hare Ca131) REGISTEPED NUMBER.. 7416629 BALANCE SHEET AT 31 DECEMBER 1023 Grou Charv Z023 1023 zozi 202Z FIXED ASSE[5 asse[s I.OIB.455 2,095,692 1.891.465 InveSlmpTrls io CURRENT A55FTS DoblOt5 CAsh 41 and itshand 153.337 É02.L¥)8 154.454 724,?n7 878,661 ID4.219 6A9 3'J4 P23.51A 95thf.349 838,101 793.613 CREDITORS. arnOunt5 fallin8 wiihin yeèr 12 18i59S 146,145 NETCURREPIT A8S¥TS 772.7SO 67A.891 732.516 663,518 HEDITOA5'. mwe than DDe ¥par 13 189d.6011 1894,6011 NET A55ETS Im6,604 1.729.382 1,fy1).664 FUNDS Untrsliictod 1.822.113 1.632.8fj7 1.654,841 14 74.491 TOTJIL FVNDS 1.896.6(M The dCCOtsn15 have beers wtpared kn 4cccrfd•nre whh ihe speti PPQvkiOn5 01 Patl IJ ol ihe Cornpani5 Act 2006 ieiaTll8 to smillcothoani% Approved try the Trvsi•p% on 2 Je•krt and %i8ned on iheil Ilby PetQf Hushes Tru5tep 16
KINGS CROSS CHURCH Icovpany limited by guarantee •niJ not Povingshare lapt411 CON50LIDATED CA5HFLOW STATEMENT FOR THE YEAR ENOEO 31 DECEMBER 2023 202J 20Z2 N01è5 NET FLOW PPOVIO(D IY OPERATINGACTIVITIÉS 181,224 22,612 CASH FLOWS FROM INVISTIMG ACnVVIES 9.667 CH FLOWS FROM INVESTIIIG AonvrriES FrAod addftions Disposal PToceeds 1601.1241 1.050 CASH FLOWS FROM FINANCING ACTIVITIES {50.3031 336.31A NETCASH FIOW 78.490 159.078 Chan8e in cash andcash equiv.7nts inlhv C•sh andtè%h (vulv9ni ar start 06iheYo sh 3no ¢a5he0¥ivabOt5 al Ihepnd DI ibei*aw 78.490 159.Q7A 723.S18 564,440 1102.CQ8 NOTES TO THE CASHFIOW STATEMENT FOR THE YEAR ENDED 31 OECEMBER 2023 I NETCASH ILOW PROVIDED TrYOPFRAIIYC?ACIIVITIE5 Npr movemvnt in funds for Iheveai Inttre5t receive LIL212 139.918 126.2U2 IPerredsei/in<rease in cr¥hditors 108,593 120,9051 Net (Ash Irorn opera11 1122.011 2 ANALYSIS OF CASH AND CASH EQUIVALENf5 2023 1022 Cash dt bank lind In hand A02.008 802.Q 723SIB 3 ANALYSIS OFCHANGES IN NEI DE&1 A¢ At31 ljart 2023 Cash flows 31 Oec 2023 Cash at bank and in hand 723.518 78,490 802 Q08 Oebt dtse WilhinVnP year Debt dueafter ODeyo.ar 145.5501 1989.1911 189.837 Xg4.6011 0459 128 793 17
KIt4GS CROSS cHuficH (Cornpany limitÈd b¥ gVaf4ntee and not havtng shre {atall NOTESTO THE ACCOUNTS FOII THE YEAR ENDED 31 DECEMBER 2023 I ACCOUNTING POLICIES lal Account1cOn%En Thp finarKial SlaiEmeThts have been proared m atcordance %b7Eh the f&TlI RppDlling 5t4ndaTd ipplicablL in tho UK dnd Repl)C ol Irpldpd IFRS 1021 arKJ Ib.Aftymjn? and Rewri 116 ChJfi'.i(5.' Slalem2ntol ReiDmmondvd PT Aclirv dppliciible ID thwlts prtparinKiheiF accInL% 1 AcctydwKt Vifh FRS [02. ardTneCompmsACt 2th6 The charity eelS thp dpfnitltsn ol the pubk Mtity FPS 102 A55eiJ and IiahilitlP.5 are Inrtially TLxocni%vd al hisloiiialcosl or trH?otiK)n valuty nSsle9Uled In the ie.ewntactwtinipolicy notp. Thè fin3ncial 51atemoTrts hJ¥p tem piewiFd OA a j£ cfJn¢rn DaS15 4rte¢ tsking IDtO A¢tounT Ihe currénr risks io going con¢ein due lo thp 006trin8COVID.19 as OTriilJl•d in I Trustve Aevwt. Ibl Fund HCCOuntinR Unre5:rKr¢d tunds ale avalab for ust * tDe diScrettM ol rhe Iruslet5 furthvidTrte of ihe Reneral obRctivys ol ltte hority. nsi8naTed iind5 are utlrp51p&Ii tvnd% irmaiked bvlhe cncl. lor partICulr pvrpD%+.s. ResirKled Iuii¢S arp%ubcipdto rf 5trKliorson thghf iponditt JmwsÉid bYThpaonr. Icl All ip.come is Inciudcd In thp SIAimpn¢ ol Financial AilivftIVS whcn Ibethar¥ li ynlillLI to t• income and ihe amount can bp QU•nliFprd VJilli ieii%tsryAblTr a¥CWiCV. ThetollDwln8%ycifY poliri é"e to poiticulai c3ttR4rk•s01 in[v... DonatiQV5 and Ip¥dCips ie¢•ived by wav ol w4ni% donal$. le8aciTr$ Rift% And is clUded ILII h the 51JtvmEni of Ihe charlty. are i•(otsed when the Chaittybecomrs uD(4)rdilK)nally iiDl¢le4 1¢ the grant. ChAiitJble aclivtSps Irome and n¥e5tmvl wKorn•ate r1¥abl. Re%ourEPS are delrrTpd th. eTrO 01 ac£OLtine wrt)d. Ihi'y hd% bpvn ¢l¥ed but Ihe charity hd5 VLI io becomp vrK0ndiinJlIt*¥rlIléIQ Ihtm valueolsrrvKP5 pfDwded byvolunieer5 hd)s IrKIle. 18
KINfjS CFIOSS CHURCH Iccmpany limited by Éuaranree and Mt bavint 5hafe iaptsil NOTES TO THE ACCOUNTS FOR THF YEAR f NDED 31 DECEMBER 2023 I ACCOUNTING POIICIES IcoffltNMdl Idl EXnlIr is rEcogntd on Kciyal b45i% a5 a lia1Y IS ¢re. XKlude5 any VAT pjid For KXI FacilitlV.5 Ltd and K X Cowuklnl Ltd. rt excl5 anyvATpaKI. Chalrtablo èttiNrtie% ÈKppndrtllTe coTrTp'ise5 of tha C05ls incwrod ihe chorlty In the dpriry DI its act1Villpl serCeS tor It5 benpfKial5 Ir Ihtludes bDlh cost5 that tan be allocatod de¢ll¥ to wth actlviliès and thoso co5 ol an jnoirpcl naiurv nece%%afy fo swpori ihern. All costs are •llocaiJ of IhE Slatemu ol Financ1 ActJWiliPS Oh a bhsls desed tD retlpct use ol the re'source. CtyTS rllnB lQ)P•rtKuLir KIkyeIk)C pieddkec.ly lel Tan810 a%sets 4ryJdeprL'cwr Fl¥pd A55Pts a¢¢ cDprt•115LYJ ii%e Within ifve ¢Drnpany. wheretK• Individual co%i ufih• issÈt 0ceedS £1,OW. Ti?nglèlp a55etsarestat¥d at CO%1. le55 arcumulatod dcwec4litin ètturnuldted impaimivni ts55es Deprpr.iatW 15 pfowd8d on I0d assets to sprvad thv roq Over ihe esimatrd I1.S ol iho levanI dYSPt4 ilt thp. lollowini Comwter oouipmenr 33% %lri¢h¢ linc 2(YA. 2S% OT 13% str4h[ Ilne Ovei thEiorm (>lthpl•8v, or a %hoFterpeTK. as opgruprlare Owt thp liirm olihe lease Lea%huld Improvomenrs land And The charit>b tomraDV aVSW% 4t trp?rtirtK de Whpir thvf<' 1% dicaii?n in)1 an as%rr milv tt iniprfifpd. Tlie knpalrmerf hJ55 5 derermkntd the ihe termY•¥e ol the a55et. The rfftyer1b ama1 Is Ihe 101 •ssets or t•sh-8enerl¥ ¥nlt'5 tslr Ye tost5 and le In use. Wheri. Ir10 v•lteexCeedstfveityearnnt. the•5ser tsdÈeme¢ knpatred •ndlNtlJYitkn 1# tt5 recohrabIevUe. 111 Penskxcosis Pnslons arf wovJed for stafl ty moans ol rnoney Wsohal &340r 5thernes to whlch Ihe tMrch mAk ontriiwiion 1rtiOnS resptti ?1 Ihp5e schemes Jre chJI ro th Statement ol Flndriil ActivtlC5 lor thÈ wpar itl which they Payaole ro s[h1V. betwevn ¢lInfrtITr5 0aydtAe and CQllii1buin5 aCIUally Pdid Ill yi'dr orr shown as other ci¢Ortws oi thpyear ethd. The chdlitable Company Only pnlgfs iTrfO basK financial 1115trument tran541(Iians i11 re5utt In thc rp(olt4)i) ol Finantlèl a%5e15 lbIl11?5 le tiade and other dlor$. tash at bank and cieditOr5 Thr5e basit finaTrcidl in%tTumMIs Hfe Initièlfy me•svrod dL L13nsd¢kw pr Are sSeqUEn11¥ tarie¢ at aTrort'sed 105t VSiTr8 the efttxlpve in[e5t mClbDd. Fwdncir)l a551Il% Iidbllitls claSSilled 35 due wrthin oneyear die noi 0[11&e Curri?n'. lax 15 PIOVided ai 3maunis Expected to I. using Ihe taK rales and lawl thai have been enattcd or 5ub4larn1l1v cnactpd by Ihe'eportin& dait. 19
KINGS CR055CHURCH Icurnpany limited b¥ guarantee and ntyt having cakxtal} NOTES TOTHE ACCOUIITSFOR THE YEAR ENDE9 31 DECEMBER 2013 I ACCOUNTING pOLlf5 1ccrtirrtl1 Ill I$¢MentS Fed 355et ltrnels are ststed ai mallei value hell at balance spert date and tsin or 105S tak@n to the St¥tement ¢1 FiTrant kl1vit4 The sharcsheld In 115 tiadinR Subslriesare staled at co&1 2 LEGALSTATUS The ¢harlable iornwny a cornpahy l¥nrted bv guarantpv. ond ha5 no shae capllal. ThE (har iat4etompanv was iftcofpoTaiÈd on 22 Ocrrt.r 2010 Ih En¥and andw65 re8Klered 3 May 2011 WithiheCharyComrnission in Engld and Wdles. The re8islerEdofficeof Ihe charilabletornpany is 242 PenionlIE RoaJ, LoneD NI 9JY.
KfNGS CROSSCHURL71 (Company Iitpited byguarantee and mt having Share rapitall NOTES TO ThE ACCOLINJS FOR THE YEAR ENDED JI DECEM8EA 2023 3 CK)NATION5 AND I EGACIES Unrestritted fuTrd5 Re5trf<t Ir1d5 Total funds 2023 Totryl Ivn 202Z NDn 8ift don3ik)n5 Gift donatK]n5 Gift lecove14 5petHI appvd15 Gidnt ipcorhè 383.963 848.$L%I 271.A97 2.855 3(Xl 434.018 858.138 2Y2.706 2.855 IZ.300 4AS.S?9 803.182 214.423 206 64.4.0 9.934 12.000 L507819 72,798 ).580 617 4 CHARITABLE ACTIVITIES INCOME vnrertnrttd Rest1rted Total iunds nd5 2023 2022 Church IVepk?nd Jlway Other rTrE income 8oDk and Med5a Incrme 44.8)1 5 9.485 16.132 4.895 9,4lS J6.732 G,274 9.006 5 SYAFFCOST5 2023 2022 Wa8e5 ano saiar 630.703 64.072 3?.447 30,817 J43.778 42,402 Pvnshin egommodalion And olhei cosis 762 039 633 L94 3VttfiKe nJmbw ol Sldll durint INeve•i wa$ 3112022.. 311 No eth0¥ee receTrtd pmvlurnpnis of ffJfJ,(ts) or morp dulinEthts Yeèi 01 lh• proi ypar At thc vpai pnd lhe Wert$LndInS censrt ¢cl11blI?Th% tyqyatle 01£4.1ts 12022 E4.065I Tota1 wn5ion coniilbuliUfiS Df £3?. 44712022.. É19.2981 werp paid ty Ihechdlildtrle (Dan¥ •nd ale (lue& SlaTempnt ul Finantial Aciiviiie.5 Durrn8 the Year key manav.emenl Oei?nrel rvreJ¥Ed ternuneratvn pniludin8 of4i%M)# contlibulions. OT £75.710 Ipiild io Ihrt'e rmpltypp51120ZI £67.519 10 Ihrw rno¥¢S1. 14 knItr $49.140 was pahl throuRh KX Coworkine Ird TO IWDO, Ihp5e emplrJveos12022'. lurther f54.6ffjp•ld ta 1*0 of ihosv. empknfft51. Duriii8 ihe yvar ont rrv5ree wa5 iamaursed E75B 12021.- £2.497 to i%vO tru51eesl e¥pensvs incurted ofi tho crity'S 21
KINGS CROSS CHURCH
Icompany Iimired by gua?ntL'e and not havin8 sNBre tat*tAII
140TES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 1023
6 EXPEMDITURE
Unro5trfcted
fund5
Re5trirted
Total lunds
Tot4funds
202Z
2023
Dlre
KINGS CROSSCHUROI Company Iiniited by guarantep and not ha¥in85hafe CatlI NOTE5 TOTHE ACCOUNTS FOR TTr•E YEAR ENDED 31 DECEMBER 2023 6 EXpENTuRE (co•tIndI Unrestricted funds Re51rlded lunds Tdtal 2023 2072 Dirert ro5ts Istr previtsu5pa6el Suppurt costs Venue hiiv 479 ?65 s.789 404.681 a9.:01 19.596 10.3SI 986
2.43J A50 lie t05t5 Shaiedvquipmeffj èndcoThsumdblp4 24,586 5,341 13,799 19,5Yb 10.351 986 C0S15 Travèl subthience 2?.430 85Q 19,933 19.71S 63.693 Jhd1ga%ed f•rilPlS 23.728 83,797 07 FanCe ConmuhK4tjS Ind mvd 63.653 1.133 7.594 5,302 6.J07 17.857 45Jq ClerRV hots Cuiatp ando.dinand costs WéKI's and s&1)rS Ctsmmnn luno Trusteeeipens 13,¥3b 17.945 dB,224 633.14)4 85.20D ?.627 7S2831 95.( 2.358 g,?oA 767.039 9s.cx)o 2.359 Auovniancy lee Paytoll leps ank chafges and STrieie51 9.514 972 972 23.5Sg 1.386 24.762 l(M),562 16,618 1.186 Profit on tlisposal 2.073 ?,fl71 Tot31 svprt ¢tysiS 11.012 Total eXpefirWe 1.740.366 138.S36 1871.901 l.u41.897 Incltsded Within EICCOunianry Ipes abow artr amounts duc io Ihe dudrtor% In rolaiion to Iho 2013 audtt and acco1* uf 19.17112022.. CI 5001 awoun15 dup itt relaiion Io Olhvr servc5 ¢1 É34312022 £nill 23
KINGS CROSSCHURTrt ICornpaDy limited by Euar4r•tee arrtl r¥)t havinesThaie captal NOTÉS TO THE ACCIXINTS FOR TIIE YEAR ENDEO 31 DECEM8ER2023 7 A14ALY5LSOFGRANTS Durin&thEyeatthe8rwpmato ihÈfOllovTr$raThIs off l.(KXTrormoYeto Or411r1s'. Z023 2012 In¢sCroJs Chwrh Chr.'%tians A&ain51 Pavvrty Chokp5 Islin8ton CTb15 UK CruA ConvErsations Gtowlnff Hope IIM 5.4L io.c 2.1 11.30) 13.L 3,7Tr) 2,880 2,600 1.2( 1.2( Lon¢Joh C*¥ Mlssbn Ciwn rJrtTrr5 Power the Fight 5cyl 5ty•lh reoihjnd Tree ol Life xip 1,64) L.2C ?.457 1,2L>) 2.810 2.4( 3.667 k¥ Coworbini Itd a¢kney N4hl Srteiier Islingtffi GjnI AAK tor Good 3.297 1.701 24
KINGS CROSS CHUFI(JI (Company IlmitEd by ÈUaTantee and not having share capit31Tr NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 8 Nrf INCOME FROM TRADING ACTniiTIESOFSUBSJDL4KIE5 Ch¥lty I{ ol the issued Ordiwry 5ttare fdphal ol KKC Facilities Ll¢. a ¢Offlpany Intorpgrated 4n Erigland 4ind W4le5 ncomwydonates Drofrt5 to I1nI charity KKC Facilit5 L'.d preoaies ics 3Cctsunis each year to 31 Dvcern lor fjkni with Ihe ApK151rir of fnmpaThs. It5 COrnpJny reg151raiiOn n_, mtr 14 U9791$27. Thv ie5utts ¢1 ihecothpaity befrwv cOY5rJ¢12fi foi thp year 31 Oetember 2023 aro 2023 202Z AdmrniStrètKpn pen5es Distrib[lol0 Kiil[sCros5Church 39,515 14r).44ni 41382 Iht chdril¥ also rjwns 1(k)% ol the issuod share capilrtl ol Kx CoworkinK Ltd. a Mpany Incurpoiatpd M FiiglAnd KX Cuurkins Lld, ryr.paies 15 [onIS oath Year io 31 DecL.fftr lor lillny Vlitth the Re&iitldl ol Cornpanip4 ns companv Fe8lsiririon nJfflbpr 14 09957803 lfie tesufts ol compary betNt Con501•¢)n loi tho Yeai pnded 31 Deiprnbvr ?013 Ar¢ 5ummariSed ès follow%. 2023 2022 Turw AdminIstratn yxpens 251,670 228,YU5 KX Cowkkn8 Lld at50 OWh5 IIXI% ol the $5ued grdirtary sbhre capital ol AIK Co4YorklnR.td, th coffloanv Incoipoialeo In En8landgth1 W)Irs. AAK Cow1n8 Ltd PfepaTes 115 a¢counts eAch ¥rai 10 31 Decemtrpr t¢t Iiling ihv AptIr ol CompaniE$ 115 comp.Inv i•Rislr3tI number 55 103r>)IC4 The CDmparv ha5 iemdiw SincLi ¥)ttstptyation 25
KINGS CROSS CHURCH Icornpany limited byguarantee and not having share capuii NOTESTOThE ACCOUNT5 FOR THE YEAR ENDEP 31 DECEMBER E023 9 TANGIBLI FIXED A55ETS land and Leasehol Jilthry improvlent5 Chèthy Equiprneni flttin COST At betinningol wvar Add1tH)S OIw)sals 827.368 116.748 1?.209 14.0051 121.952 55.13 L 2,W6.SaO 29.051 16,8d2 55 Ji 1121.626 DÉPRECIATION 63.261 64.6S4 39.317 30.906 353 10 550 B,794 121.245 .i(K) Ort 015wsa15 IA211 19.344 23U,161 NET 8OOK VALUE At end o vcai Al belning01v¥rfr 986.OS4 1.033.866 SB,267 7T.431 J5.9U7 1,891.46J Ltdsehold buildln8s knpro¥ernenTs Group Furniture and Etyipmenr C05T Al bc8Mnln401 year Aaditn$ 1.427.039 Ib.Y2 19L33Y 1.251544 13.432 ?B.N8 2,445.(OJ 63,IdB 19$ 342 1312 9n', At cThttDf Ytdr a27.36 101,500 DEPRECIAbK)11 I olv¥ar ChèrAe tor Ihevoai On dispDSdls At vnd Dlve4F 277 699 17.749 19L3J71 39.825 34 076 13538 10.363 73.7EB 9,9Y3 349 403 .iLK* 194,8751 2Y4,44b 33.761 t4ET 8CJOK VAIUF Ai ep.d ol Year 1.07R.433 61.126 77.431 2,OIA 455 2 LVJ5.692 49.664 26
KING5 CP05S CHURCH (Company lilIed bY.arAntee and noi ha¥in8 sha¥e t&k¥tal NOTES TO THE ACCOIJNTS FOB THE YEAR ENDED 31 DECEMBER 2023 10 INVESTMENTS Gr¢¢Jp 2Q23 Chèriry 2013 1022 2QZZ Investmeni.r. svbpdloryundÈrtrtg 11 DEBTOR5 Group 1021 Charity 2023 1022 2021 Trade¢Jebiprs PTpptympnls m4LJnts dw Irom sub541idiy vndetlakines Gift a,d rQ¢o¥eraP OTheF dèbtws 13.401 Z7.182 29.syg 21,461 20.281 64.0%9 48.623 20,1 189( 3R D19 64.089 48.ts6S 38.4S9 114.586 11 CRF.niTOR5.' amounts lèMlngduÈl wlthkn Group 202) ¢harlty 2023 202Z [r•deciedilN% Taxètinn and oiher 5DrBI S¢¢tsrrtV c1$ Atfl Jd1% deletied Intorn Othcr citditQTI Oaiik IOJTr5 OihpT bans 6.709 IL180 34.350 40.slg 13.9S2 15.8 6.673 75,017 23,531 Z6, 104 13,262 ?8H 13.262 l) f.REOI7OAS.' •mount% fall1( Ihan oneytoi Gtowp 2023 1022 2013 202Z Other lo•n5 401.995 492,fy)(. 89d.601 401.J45 s?,6 894.601 250.0 989.141 zsD,c Ttr b3n*loan 15 secured on the aSehO pr00erlv¢gncemed Flus4 detseniuf£ OVQf Kife5trossChurch. The othef loansarowLvred on thp (iethold PIQWnvtCerw. Amount5 14llin¢thJe foi ptyment after more hn live yp•r5'. Grovp 1023 Chartty 202) 2012 2022 Barnk loans Olher kjans 340.351 250.LVO 590.351 361.119 250.OCX) 340,351 250.OCO 590.351 250,000 27
KItIG5 CROSS CHURC Icompany Iimiied by8uèranteE and Th)t having Share capitsi NOTESTO THE ACCOUNTS FOR ThE Y&4R ENDED 31 DECFMBER 2023 14 RESTRICTED FUNOS Fund5 clfwd IrKomÈ Expenditur Ttln5fers TENT 4.218 4.21A 10.522 RoVr[echr[h XC Veitures kxcaio 2È 899 117.gJS1 10,994 17.2 3.140 320 50.1 9.4Y4 COVID I'J lJhd CloUd¢elY 6uilttbl6 42.079 J.106 80 112.OWI 652 J?.¢ 56 IFORI TOTAI REsTRTED FUWDS 152.525 72 7fjR 12.296 TENT TEN- Wa5 4 chaiilable Shiied w¢rksoate Inr Iretn¢ wLYkers. ending in 2015. fknnaiion5 TPCVivod WL'IV u5pd 10 help lun¢ PioiP(15 Wlth chaiiTablpnbJee15 compalibiv wilh th05e ol KXC. lund Givhiiy r¢¢.'IWtd fiom thg ron8fe8at¥Jn for rho pwp05es ola Iulyre hom lor rhe Church. R•lou¢ Church Fundl KXC ,&ias DIocv5e ol London Pyourcy Chui<h Slepnev and Edmonlofi AVea% to eDabli, Il% Wider idp. 5UPPOrtini chtsTcThe4Artd )lontin6 a(r055 IOnOon dtsd fvrihpr af¥d The In0 vnJblcs tundine l.om the cnuiLh Commi55.'onpT¥ to be resErrtied io R%tsJfcp Chwtb work Thls Inrtial ldIn¢ 3 ¥eAi slipeffld and hov51ryq 5vooori XXC Veniures As part al our socw h•¥ launihtxl a KXC VaTiurvs 1¢ SUPPtyl •1 prtrkcts. pFlkatlons are nad bv • ¢lMlet ¥¥J Valis lyK•lv afo fe55 Ihan £5.0 pEV nie iranslw tyjl ropre5enls kndstr•nslvred loKXCowOith¥thxkn8iye4r. KXCI The Kxcare eAi515 to Ihe and kvattifal re ol Ihosr In our (oThVlEY •lledtd by Ctyvld.19 pondemic Wk•i'onl•reman¥Ld l.-ant5ttAIfW ère les5 thanELCO) award. Yourh rhi5 lund 15 Used ID Covpf siafvingcosts tor our Farnjl.s Srredm. S3 overstS Oul ministry. 5tudpnis. youth and ch,"Idren acrossvarou5 a(IIyilips. 28
KINGSCROSS CHUROI Icompany limited by guarantee and not havingshare ctrprtall NOTESTO THE ACCOUNTS FOR THE YEAR ÉNDED 31 DECEMBER 2023 14 E$fRTED FUNDS ICUNTINUEDI COVID.19 Wp WEre awarthd iwo ¥raffltS In 2020 towaids thp wrchase ol AV equiJMent Used IM dewlDpin¥ our capa¢liy for Li 5tIEdmfftÉ. These erint5 5peni a olÈqdioment. 50mpDI whh are Shown on the DalDnc? sbppi CK>ude51e¥ Chvrth Grants rifADt riwèid& Iiow Clalides¥ Vfust Churth Gibni Pioyamrne- alw1-¥e.artV8raThl lor malnienaDcvolchurch sp.Ivlco5. Missfjonai Actlvity Ihis lund15 to to coverro415 rlatedro MissrtaI lic11150nlv. St Gresory's St GreROIy'5 is a rth church W bv knna ma. tIn6 th Inial pha5c J fw111vd lund.wai CTeat14 d rtl KXC T? Man48e the yinlwem•dEtChIrfIh andknfAhei fundrabkn8duriThE t't IniTiairrdllSilion tyerthxl. Sl GTe%ory's bL'(4imV an 1r4epen0nI chwllyon IStJ•nrV XJ23 and we In thiS'und was Rffted lotM Ji this time. Triin%fr%out ol ros'.li¢ted t1$ KTrraeialty i•pig5eni eY$wdtrlIrebKh wa5 capldli5pd dts¢in£ Ihe veal. IS UNHESTRICTED FUND5 Fund5 b/¥d F5 cllwd Income txptndlture rraDslr5 Isibn5desiwhled lun 48.?71 2.219 419 114,704 15.0 Kini'5 House Gr¢wih F Total UeSwJrid lunds 14J.?10 b67.563 3DY,000 681.751 IA7,0321 2,844 1.1?8.316 419 1'47.4431 218.8)3 39.575 2SI.670 KX Cuworkin$ Ltd 136.211 318.L123 454.591 Total 8enpfdl lunds 176.5911 404.746 1.916 897 TOThL VNRESTRrfÉD FUNDS 1.632.867 IL140.3E£I
KINGS CRQSS CHURCH (Company IimSted by guarantee and havjnE Share capla'l NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBÉR 2023 IS uNREsTRED FUND5 ICONTINLEDI MIS0% luffld Each Year. tho chuich aims Ta doie a,. a51 IO% of its donAted Incame fTom Ihp f0neregBtN ès Rrants tD PKlernal pioprt5 wilh charjtablf ObCliS compat11 Ihose of KXC. ch(h Planti Thls fiJThd has beosthott bv Ihp tlustep$ 10 supwi rtewthurth plantinE4pportunit5. Curait Hrw5e Ivraie hwse iepiesèn15 Ite rrt bool value ol Ihecur3te hLVJ5P sSanY associaled Kiafj5. KIw'5 Hou5E ThL' KinE'5 lease prowdv5 Ir KXC tv relain ihe value ot 3nV tvnants irnryowment&. shows thp p)1 book valuè Df the •mprowpmen¢>les& anv assaclled IoAn%. Giowth Fund Tl gro4Yih fvJnd Is 1¢ dfjiipi¥lli5b monEV held back for fviury krv 51rai•wc decl%iOThS. yndinR trDm ihv. Fund agreea by the Tru51ei% 9oard 16 ANAL Y51S OFGRDUP NEI AS5ET5 6trylEEN FU14DS UDfQStrlrted Restrlctd fun&5 1023 2.018.Q'. 153.337 7?P.$17 Bank and cash Crryjilors due Wirhin Yraf Cipdlt¥r4ilu• rnof ihan one vtar 153,337 80?.,M8 74.491 894,601 l.R96 b04 2022 Vfirtstrfcted funds Re5trlrtd lufids 2022 TAngiblv Iwed a55et Debruis Bank and ¢a4h 2.095.69? 2,095,ts92 117.sm 62.129 661.319 CreditDrs due in ffjore thanonevcar 589.191 605.761 179.629
KINGS CROSS CHURCH ICompan¥15mited bv Buaranteo and TK>t having share capitsll OTESTOTHE ACCOUNTS FITh THE YEAR ENDED 31 DECEMBER 2013 17 COMPARATIVE COP450IIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE VEAR ENDED 31 DECEMBER ?022 Linre5tricteo ptritted 7ot3lfunds funds 114COME 2022 Don&iiDns aThl IL'laC$ 1,348.2¥0 9.W6 217,?05 1.172 212.770 1.571.050 IJ,006 217,705 KX Lowo¥k*nR (Id Inw51rnent intorne Oiher ncome 44,703 44,703 roTAL INCOIAE L620.966 222.770 1.843 F36 EXPENOITVRE 70.616 I, Jt41,B97 TOTAL EXPENDITURE 70.616 1541.897 NtriNCOMt FOR THE YE•JI BEFOAE TRANSFERS 152,154 301.139 TRANsfER5 BETWEEN FUNOS 179.251 NETINCOME FOR THE YtAA 328.943 301.839 TOTAL FVND 8ALANCES HROUGHI FCRwAfiD 1.303.924 179.629 1.483,553 TofAL FUND AAIANCtS CARRIED FORWARD 1.632.¥67 31
KINGS CROSS CHUROI (Company liffjitetl b¥.arantee and Th)i having share Ca11) NOTESTOThE ACCOUNTS FOR THE YEAR ENDED 31 DECEM&ER 2023 18 COMPARATIVE fur4DS TrX)TE FOR YEAR ENDYO 31 DECEMDER 2022 ESTRICTED FUNDS Funds bllml Fun EXpenlr rr4n5ters clfv•d TENT DuiklinR Fund Re5Qyrco Chuwrh &1 KXC VQnlure KX4are 4.?IB 72.I¥K> 28.652 4,218 B.7SO 117.?531 2¥,899 IF,S00 3,140 ID.ty9 1.17 22.177 iio.th)01 7(X) RebbJI1dls covirbig Ck)udesely Buildi118 Fund 2.292 1.106 28.160 767 51 Gi¥ory's TOTAL PESTRICTED *Ut4DS lJ4.746 22:.77n 137 0841 57.6G2 IP9.&Pg UNRESTRicfED FUNDS F¥nds tsId IhCQ Expendlture TrJTrslers clfwd MIssicn5 des18nal¥¢ fund 50 779 17.2Bg LZ8.944 737.571 160.9)0 190. 1411 12S,cl 88.733 In,0 2.289 137,005 Kln8'5 Growih Fund Total deswnali.d lund% 7.445 ISLL 2WO 2tsJ.f 309.rAJo 41.829 83.919 I46.?1 ',141,Cthl LtrJ6.171 .600 Gerte'al fuhOS rotal Rentrai bJnOs 217.705 L203.261 l a2a.966 641 31&823 Tof&L UNREST8KTEnFLNOS 1 7n3.924 L620.966 179.35A 32
KINGS CROSS CHLIR(H (Company limited bv EUArantee and not having share capiièlS NOTES TOTHE ACCOUNTS FOR THÉ YEAR EP4DED 31 DECEM8ER 2023 IY RELATIO PARTYTPl4NSACOTrts ou1¥ pr5D' vear Ashlpa SdutwJn& d cornpany b¥ F H4rpp.r. rrusiet. V0ed the irrjtsp d lotol of £34$ for DunnRthe Yar M Mitton. Tru51ee. jnvoicedthL'charity A rotalolf I.5{20?2 el.4581 for iralnine 5eryice5 Pfoviaed. ring thr year Onp iolatl¥E of é Yru51ee was em( ihe chaTity and rPMnration tota111"% f 28,892 12022.. £26 539 to Ihrev rdatwsl CArne5 ¥KWied on bvh411 olthE Iharlly tot411irK£279 Also thriDE yPdf Iwo reldtive5 rwsteC5 werE 1975 IXt3? £4522 tDW re) lor 5r•es piovided dnd a fvFther E2b5 fni expon5es In¢urryd In lthe prror Year. One le1&01 • Trukee ias wkh A Jeath88pft ol £l.CQO. Durin& fhe¥oar E5.W12022. (10.534lwa% Pa1 tolntyCC5 151in8ton. Dn alfrfi4tpd chArhy 5fjutnrlL,, Ifu51eo. In addi1 thv charity avdilab ai beknvl tAtP5 loChgKes klw8ton. an affiliaie¢ chaiity ols Guihilp, Our8 Ihv tle yisar. Kin£s Cross Church chargell st Bail-%. DevoTr f4 X) for Iinancesorv1¢tr5 Led Thpy alsD chdra?d Eji of reimburstyj St B4511'4. lIn1Th prr¥ar KinB'I Cipsychwctt madp p•vrnent5 LTrl £l.d53 to St Oa511'. De.VOD, PAying across donatior4ieceNrf on fbir bTrhAII P Hughes. TIu51. Is alsoa ifuster vlst Da&il's. Dpvofi. LhJfing Ihp thp yvai, KiTrR5 Cross Chur(h car(ed 5T sa?11 Chiivch E4 2rx) lor linarcc ser¥lces Proded. Theya1501hArxe4 E9310l reirnbuiw expense5 To 51 R45il's. [¥rand parfl St Sawur'5 CI50 5pfvi¢ei provlded DvrhR th• Piioi yeai KX CowOfkiry% pa d £1.(1 IOARK I?G22.. £1.W)11. artd rocelvc¢ C856 Imm thém. APK 8a5e CIC 15 a companylor whKh iwo1 ol live dwettots also irv5tee% ol Kinés Cro55Chur£. OuriTr8The pr#)r Yeai KXCoM)ikin8 Ild a proporrn of th•iV Stafliiffle to pt 54viDu5£hVIeh. Hanlry Roaé, wlth a buildiOR prOtI. PtyluKhes. Tru%lev. Isalso A trstee 0151 our.5. Dulln6 thp prk>i al Kiry8'5 CiossChJKhmadcan lnieresi.live h7aTholf ?O,OOO'.o it$ S511ty KXCrhvorkln&. Hepayfflen15 01 É11.667 were maoedwintihpyear. wllh a tranCe01 É8 333oursiandiii¥al thy bd1apLp dale. 20 F1NANCIALCOMMITMENTS At Ehe balanceSEt dare the charityhddcommftffjenL* for IUrt a5paymentS iotèllini É12.1)W12022.. £12.0001. 33
KINGS CROSS(HURCH (Company litnlted bv Ruarantee avd not havingsha captall IIOTES TO THE ACCOUNT5 FOR THE YEAR ENDfCt 31 DECEMBER 2023 21 PARENTCHARITV BelLW hrp Mmar¢dreSulls for KfflE5cwc[h ex*1the&Ls1Ilary fOmPanv&5' INCOP•E DunAiJOnS and KaCS 1023 102Z 1,616.984 9.01 1.272 IDvc#rnoni Income OlhEf incornè 9.667 37.473 roTAI IIKOME l.T28.¥33 1.671,965 EXPENDITuRr 1.649.117 1,380.106 TOTAI EXPE14017URE 1.649 117 I,iari IOG tr4ET IP4COME FOA THE YEAR 79.716