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 ￿eX￿der 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 H￿1 Avenue est Malling Kent ME194JQ Virgin Money Jubilee Hobse Gosfortn Newcaslle upon Tyne NE3 4PL The Kingdom Bank M￿la 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 di￿ectOrS lof Ihe purpose of company law and Iruslees for the puipose ol Charity law. Members ol the Council are drawn from Ihe W￿er 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 person￿1 (known as thè Assoeiate Teaml comprises 3 senior C￿rgY ILead Paslor. A$50ciale Vicar and Associate Paslorl and 3 employees of KXC ILead Pastor. Network and Piojecls Director anij Operations Director). All clergy salaries and remuiieral¥)n are set and managed by the Church of England. KXC empkiyees, salaries are set and approved by the HR Subcommillee13 members of the Council and operat￿nS Director) and key managemenl personnel Salar￿￿$ 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 Miss￿nal 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 aclivrt￿s we take account of the Charrty Commission's guidance on publi¢ benefit and Ils Specif￿ gu￿anCe 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 Confe￿nces. 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 congregat￿n lo come and worship during the day. 'Seek Fi￿1.. 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 n￿hiS wrth a special locus on Gkjbai Miss￿n. 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 wh￿h 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 New￿rnerS 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 leade￿hIp devek)pmenl wilhin Ihe church. The student communty conlinueil to grow. and we held a Student Weekend away in ea￿Y 2023 for around 50 01 the group. Family We saw a new wave ol giovrth across our lamity Initiatives an increase in creche- aged thi￿ren al our 10am serV￿e. a neY4 Youth Hub and arDund 15-20 Youth attending re9ul8rty. Our weekly parentslcareis and trabÈs group saw around 20- 30 young children atter*d 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 t￿p ol coffee, some snacks. play some i￿ard 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 grov*h 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 Bru￿h) 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 pract￿allY support those who have recently Seti pr￿on. We weTe Is$￿ with a grant lo hire an addilional member of the team as a Community Advocate lo 4KJrk with refugees & asylum seekers Recmttmenl process for Ihis comrllenced at the end of 2023. We continued to develop partnerships wrth Growing Hope, LCM. Chokes and Crux Patbcular highl*3hls have been seeing the range of viilnerable adLJIIs, families and Individuals who have come through our dcM)rs and who are able to access these servKes. Growing Hope King's Cross experEnced a huge inerea$e in the number of referrals for therapy $upport12022 - 167 referrals and 2023 - 331 referrals). We expanded our speech and L4ngu8ge ther8py Provis￿In in response lo increased demand ol referrals forsupport. The GHKX clinic now runs Monday-Thursday in King's House. with some additional sessK)ns offored online. We welcomed 42 external hires to OUN Upper Room venue Hirers InclLJded the HeathepW￿k stud￿$. 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 colLgbofaI￿n lo Impacl our k)cal area for good. OperalirNJ from All Saints Church hall, ARK hosts around 60 indiv*Juals inc1￿11ng ¢￿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 serVI￿S 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 I￿1 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 fi￿1 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 ChU￿h. 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 conjUnct￿n with members of the Council. enablkng the establishment ol systems unled fo £1.990,114 12022 £1.843.7361. Most of the income is from gifts from church r￿Mbers. 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.. Su￿1￿$ 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 In￿rne 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 Tel￿f 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 miss￿nS 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 unrest￿led funds not commrtled or invested in tangible fixed assets {'the Im re8erves'l hehj by the charity $houkl bo in the range of 3-12 months of the resources expected to be expended,. this equates lo approximately E435.092 10 £1 .740 366 in general funds. At thts ￿v&1, the Council feels Ihgt it would be able to continue Ihe Guiient aclivitres of the charrty In Ihe event of a significant drop In funding. shou￿ this happen, il woukl also be necessary lo consider how the lunding would be repLgCèd or activities changed At present the unrestricted free reserves amount lo £404,746 which is just bekjw the largel range Page g of 10 C'n)5￿ Church nslbilitie8 f the Councll In relatton lo e Flnanclal Statemènts The Council Klembers (who are also direclors ol the Company foi purposes ol company lawl arg responsible for prepaitng the reFQrt and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Geiieralty Accepted Accounting pra￿￿8>. Company law requirès Ihe Council lo prepare financial statements for each financial yoar thal give a Irue and lair view ol the Stale of affrdirs ol the charitable Com￿nY as at the balance sheet dale and of ils IncA)ming resources and 8pplical+on of resOU￿e$, 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 poI￿leS 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 the financial slalemenls. and prepaie Ihe financial stalemenls on the goin9 concérn basis unless il 15 inapproprkile lo assume that the ￿MpanY will continue on that basis. The Council is rnsponsible for maintaining proper accounting records wh￿h disckjse wth reasonable ae£uracy at any lime Ihe Iinan¢181 position ol the charitable comp8ny and lo 9nable ihem to ensure that the financial statemenls comply with the Companies Act 2008 The Councll is a180 iesponsible lor safeguarding the assets ol the ch3irtabk company and for laknng reasonable sleps tor Ihe pr•v•ntion and deteclKJn of fraud and olher Irregukrrt￿$. The Council ale also responsible lor the conlents of the Truslees. R?port. and the reS￿nsibIl￿ of the aLKlitors in relat￿n to the Truslees Rewrt is limited lo examining the rep)rt and ensuring thai. on the face of the report I￿re are no inconsistencies with the ￿ureS discb8ed in the financial ststsmenls So lar 35 each Council Memt*f is aware, the￿ i8 no relevant audit inlormalion of wh￿h the charrty's audilofs are unaware. and e&h rwmber has taken all the steps that they ought lo have taken as a trustee to make themselves aware of any relgvant audit InformalK)n and lo eslablish that the charity's audilors 8ie aware of that information This repvrt has been prepared in a¢cordan¢e with th8 kcounling and Reporting by Charrties.. Slatemenl of Recommended PrxtKe applvble to ¢haritie$ preparing their accounts In accordance with the Financial Reporting Standarri for sMal￿r Enlilie8 published in July 2014 leNective January 20151 and the provisions for small ¢orNpanies under Part 15 01 the Companies kt 2006. Appfoved by and signe he Council on half 2¥ ￿&￿- Fra l¥James Ha Chairman P3ge10of10 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. Consolid*ed 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 IU*ited 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 p￿rpose. To the fullest e￿￿rti 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 a￿di[ work, lor lhis rptK)pt, or f￿1 +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 D￿e￿ber 2023. antj of ts income and expenditure fo" rhe year then 0￿ed. be¥n property PfeDare¢ In accnrd*inc• %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 r￿￿nsibIlItieS vider I￿se 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.a￿131 s:atemeris, have Loncluded:hai:h.eiriistees' use of the Éoing conlthpl•8v, or a %hoFterpeTK￿. as opgruprlare Owt thp liirm olihe lease Lea%*huld Improvomenrs land And The charit>b￿ tomraDV a*VSW% 4t trp?rtirtK d￿e Whpi￿r 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￿ ama￿1 Is Ihe 1*01 •ssets or t•sh-8ener*l¥ ¥nlt'5 tslr Y￿￿e tost5 and ￿l￿e In use. Wheri. I￿￿r￿1￿0 v•lteexCeedstfvei*ty￿earn￿nt. the•5ser tsdÈeme¢ knpatred •ndlNtlJYitkn 1# tt5 recoh*rabIev￿Ue. 111 Penskxcosis P*nslons arf wov*Jed for stafl ty moans ol rnoney Wsohal &￿340r 5thernes to whlch Ihe tMrch mAk ontriiwiion ￿1r￿tiOnS resptti ?1 Ihp5e schemes Jre chJI￿ ro th* Statement ol Flndrii￿l ActivtlC5 lor thÈ wpar itl which they Payaole ro s[h￿1V. betwevn ¢lInfr￿￿tITr￿5 0aydtAe and CQllii1bui￿n5 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 i￿11 re5utt In thc rp(o￿lt4)i) ol Finantlèl a%5e15 l￿bIl￿11?5 l*e tiade and other d￿lor$. tash at bank and cieditOr5 Thr5e basit finaTrcidl in%tTumMIs Hfe Initièlfy me•svrod dL L13nsd¢kw pr￿￿ Are s￿SeqUEn11¥ tarie¢ at aTrort'sed 105t VSiTr8 the efttxlpve in[e￿5t mClbDd. Fwdncir)l a551Il% Iidbllitl￿s claSSilled 35 due wrthin oneyear die noi ￿￿0[11&e Curri?n'. lax 15 PIOVided ai 3maunis Expected to I￿. using Ihe taK rales and lawl thai have been enattcd or 5ub4larn1l￿1v cnactpd by Ihe'eportin& dait. 19 KINGS CR055CHURCH Icurnpany limited b¥ guarantee and ntyt having cakxtal} NOTES TOTHE ACCOUIITSFOR THE YEAR ENDE9 31 DECEMBER 2013 I ACCOUNTING pOL￿lf5 1ccrtirrt￿l1 Ill I￿￿$¢MentS F￿ed 355et ￿￿l￿trne￿ls are ststed ai mallei value hell at balance spert date and tsin or 105S tak@n to the St¥tement ¢1 FiTrant￿ kl1vit￿4 The sharcsheld In 115 tiadinR Subs￿l￿riesare 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 WithiheChar*yComrnission in Engl￿d and Wdles. The re8islerEdofficeof Ihe charilabletornpany is 242 Penion￿lIE 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 Re5trfbdl m￿S1o•S 4.491 23.898 1.978 17.417 12.948 11,624 6.ryJ3 56 70B 2.014 58.137 2.134 Church Plantkni Chbrch PlJ-IlDI St Grc$oty'5asseti limed 2.134 97.662 7,119 222.596 Y7,662 1,18Y 22?.596 46.YSl 141,r.nry Total dkeet ¢0Sts 419 265 524 404,MI KINGS CROSSCHUROI Company Iiniited by guarantep and not ha¥in85hafe Ca￿t￿lI NOTE5 TOTHE ACCOUNTS FOR TTr•E YEAR ENDED 31 DECEMBER 2023 6 EXpEN￿TuRE (co•tIn￿dI Unrestricted funds Re51rlded lunds Tdtal 2023 2072 Dirert ro5ts Istr previtsu5pa6el Suppurt costs Venue hiiv 479 ?65 s￿.789 404.681 a9.:01 19.596 10.3SI 986 >2.43J A50 lie t05t5 Shaiedvquipmeffj èndcoThsumdblp4 24,586 5,341 13,799 19,5Yb 10.351 986 C0S15 Travèl subthience 2?.430 85Q 19,933 19.71S 63.693 Jhd1ga%ed f•rilPl￿S 23.728 83,797 07 F￿anCe ConmuhK4tj￿S Ind mvd 63.653 1.133 7.594 5,302 6.J07 17.857 45Jq ClerRV hots￿ Cuiatp ando.dinand costs WéKI's and s&1)r￿S Ctsmmnn luno Trusteeeipens 13,¥3b 17.945 dB,224 633.14)4 85.20D ?.627 7S2831 95.( 2.358 g,?oA 767.039 9s.cx)o 2.359 Auovniancy lee Paytoll leps ank chafges and STrieie51 9.514 972 972 23.5Sg 1.386 24.762 l(M),562 16,618 1.186 Profit on tlisposal 2.073 ?,fl71 Tot31 svp￿rt ¢tysiS 11.012 Total eXpefi￿rWe 1.740.366 138.S36 1871.901 l.u41.897 Incltsded Within EICCOunianry Ipes abow artr amounts duc io Ihe dudrtor% In rolaiion to Iho 2013 audtt and acco￿1* uf 19.17112022.. CI 5001 awoun15 dup itt relaiion Io Olhvr serv￿c5 ¢1 É34312022 £nill 23 KINGS CROSSCHURTrt ICornpaDy limited by Euar4r•tee arrtl r¥)t havinesThaie captal NOTÉS TO THE ACCIXINTS FOR TIIE YEAR ENDEO 31 DECEM8ER2023 7 A14ALY5LSOFGRANTS Durin&thEyeatthe8rwpmato ihÈfOllov￿Tr$￿raThIs off l.(KXTrormoYeto Or￿￿4￿￿11r1￿s'. 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 G￿jnI 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 n*comwydonates Drofrt5 to I￿￿￿1*nI charity KKC Facilit*5 L'.d preoaies ics 3Cctsunis each year to 31 Dvcern￿ lor fjkni with Ihe ApK151rir of fnmpaTh*s. It5 COrnpJny reg151raiiOn n_, mt*r 14 U9791$27. Thv ie5utts ¢1 ihecothpaity befrwv cOY5rJ￿¢12fi foi thp year 31 Oetember 2023 aro 2023 202Z AdmrniStrètKpn *pen5es Distrib￿[lo￿l0 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 Cu*urkins Lld, ryr.paies 15 ￿[o￿nIS oath Year io 31 DecL.fft￿r 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 AdminIstrat￿n yxpens 251,670 228,YU5 KX Cowkkn8 Lld at50 OWh5 IIXI% ol the $5ued grdirtary sbhre capital ol AIK Co4YorklnR.td, th coffloanv Incoipoialeo In En8landgth1 W)Irs. AAK Cow￿￿1n8 Ltd PfepaTes 115 a¢counts eAch ¥rai 10 31 Decemtrpr t¢t Iiling ihv Ap￿￿tI￿r ol CompaniE$ 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 improv￿lent5 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 bel￿ning01v¥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 Aadit￿n$ 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 li￿lIed 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. svbpdloryundÈrtrt￿g 11 DEBTOR5 Group 1021 Charity 2023 1022 2021 Trade¢Jebiprs PTpptympnls m4LJnts dw Irom sub541idiy vndetlakines Gift a,d rQ¢o¥era￿P 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 c￿1$ 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% fall￿1(￿* 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 PIQWnvt￿Cerw. 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 Ro￿Vr[ech￿r[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 REsTR￿TED FUWDS 152.525 72 7fjR 12.296 TENT TEN- Wa5 4 chaiilable Shiied w¢rksoate Inr Iret￿n¢* 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 P*yourcy Chuiude51e¥ Chvrth Grants rifADt riwèid& Iiow Clalides￿¥ Vfust Churth Gibni Pioyamrne- alw1￿-¥e.artV8raThl lor malnienaDcvolchurch sp.Ivlco5. Missfjonai Actlvity Ihis lund15 to to coverro415 r*latedro Miss￿rtaI lic11￿1￿50nlv. St Gresory's St GreROIy'5 is a rth church W bv knna ma￿￿. ￿tIn6 th* In*ial pha5c J fw11￿1vd lund.wai CTeat14 d rtl KXC T? Man48e the yinlwem•dEt￿ChIrfIh andknfAhei fundrabkn8duriThE t't IniTiairrdllSilion tyerthxl. Sl GTe%ory's bL'(4imV an 1r4epen0￿nI chwllyon IStJ•n￿rV XJ23 and w*e In thiS'und was Rffted lot￿M Ji this time. Triin%f*r%out ol ros'.li¢ted t￿1$ KTrraeialty i•pig5eni eY$w￿dtrlIre￿bKh wa5 capldli5pd dts¢in£ Ihe veal. IS UNHESTRICTED FUND5 Fund5 b/￿¥d F￿￿￿5 cllwd Income txptndlture rraDsl*r5 Isibn5desiwhled lun 48.?71 2.219 419 114,704 15.0 Kini'5 House Gr¢wih F￿￿ Total UeSwJri￿d lunds 14J.?10 b67.563 3DY,000 681.751 IA7,0321 2,844 1.1?8.316 419 1'47.4431 218.8)3 39.575 2SI.670 KX Cuworkin$ 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 uNREsTR￿ED FUND5 ICONTINLEDI MIS￿0￿% luffld Each Year. tho chuich aims Ta d￿￿oie a,. ￿a51 IO% of its donAted Incame fTom Ihp f0neregBt￿N ès Rrants tD PKlernal pioprt5 wilh charjtablf Ob￿Cli￿*S compat￿￿￿11￿ Ihose of KXC. ch￿(h Planti Thls fiJThd has be￿ost￿￿￿hott bv Ihp tlustep$ 10 supwi rtewthurth plantinE4pportunit*5. Curait Hrw5e Ivraie hwse iepiesèn15 Ite rrt bool value ol Ihecur3te hLVJ5P ￿sSanY associaled Kiafj5. KIw'5 Hou5E ThL' KinE'5 lease prowdv5 I￿r KXC tv relain ihe value ot 3nV tvnants irnryowment&. shows thp p)*1 book valuè Df the￿ •mprowpmen¢>les& anv assac￿lled 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 Restrlct*d fun&5 1023 2.018.Q'. 153.337 7?P.$17 Bank and cash Crryjilors due Wirhin Yraf Cipdlt¥r4ilu• rnof ihan one vtar 153,337 80?.,M8 74.491 894,601 l.R96 b04 2022 Vfirtstrfcted funds Re5trlrt*d lufids 2022 TAngiblv Iwed a55et Debruis Bank and ¢a4h 2.095.69? 2,095,ts92 117.sm 62.129 661.319 CreditDrs due in ffjore thanonevcar 589.191 605.761 179.629 KINGS CROSS CHURCH ICompan¥15mited bv Buaranteo and TK>t having share capitsll OTESTOTHE ACCOUNTS FITh THE YEAR ENDED 31 DECEMBER 2013 17 COMPARATIVE COP450IIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE VEAR ENDED 31 DECEMBER ?022 Linre5tricteo p￿tritted 7ot3lfunds funds 114COME 2022 Don&iiDns aThl IL'laC￿$ 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 Ca￿1￿1) 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 EXpen￿l￿r* 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) RebbJI1d￿ls 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 tsI￿d IhCQ Expendlture TrJTrslers clfwd MIssicn5 des18nal¥¢ fund 50 779 17.2Bg LZ8.944 737.571 160.9)0 190. 1411 12S,c￿l 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 PARTYTPl4NSAC￿OTrts ou1￿¥ pr5D' vear Ashlpa SdutwJn& d cornpany b¥ F H4rpp.r. rrusiet. ￿V0￿ed the irrjtsp d lotol of £34$ for DunnRthe Y￿ar 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 rPM￿n￿ration tota111"% f 28,892 12022.. £26 539 to Ihrev rdatwsl CAr￿n￿e5 ¥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 le￿1￿&￿01 • Trukee i*as wkh A Jeath88pft ol £l.CQO. Durin& fhe¥oar E5.W12022. (10.534lwa% Pa*1 tolntyCC5 151in8ton. Dn alfrfi4tpd chArhy 5fjutnrlL,, Ifu51eo. In addi1￿￿ thv charity avdilab* ai beknvl tAtP5 loChgKes klw8ton. an affiliaie¢ chaiity ols Guihilp, Our￿8 Ihv tle yisar. Kin£s Cross Church chargell st Bail-%. DevoTr f4 X*) for Iinancesorv1¢tr5 ￿L￿￿ed Thpy alsD chdra?d Eji of reimburstyj St B4511'4. ￿lIn1Th￿ pr￿r¥￿ar KinB'I Cipsychwctt madp p•vrnent5 LTrl £l.d53 to St Oa511'*. De.VOD, PAying across donatior4ieceNrf on fb*ir bTrhAII P Hughes. TIu51￿. Is alsoa ifuster vlst Da&il's. Dpvofi. LhJfing Ihp thp yvai, KiTrR5 Cross Chur(h c*ar(ed 5T sa?￿11 Chiivch E4 2rx) lor linarcc ser¥lces Pro￿ded. Theya1501hArxe4 E9310l reirnbuiw expense5 To 51 R45il's. [*¥r￿and 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 iwo￿1 ol live dwettots also irv5tee% ol Kinés Cro55Chur£*. OuriTr8The pr#)r Yeai KXCoM)ikin8 Ild a proporr￿n of th•iV Stafliiffle to ￿p￿t ￿54viDu￿5£hVIeh. Hanlry Roaé, wlth a buildiOR prO￿tI. PtyluKhes. Tru%lev. Isalso A tr￿stee 0151 ￿￿our.5. Dulln6 thp prk>i ￿al Kiry8'5 CiossChJKhmadcan lnieresi.live h7aTholf ?O,OOO'.o it$ S￿5￿1￿1ty KXCrhvorkln&. Hepayfflen15 01 É11.667 were maoedwintihpyear. wllh a tr￿anCe01 É8 333oursiandiii¥al thy bd1apLp dale. 20 F1NANCIALCOMMITMENTS At Ehe balanceS￿Et dare the charityhddcommftffjenL* for I￿Urt ￿a5￿paymentS 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￿￿*1￿￿the&L￿￿s1Ilary fOmPanv&5' INCOP•E DunAiJOnS and ￿KaC￿S 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