KXC Kings Cross Church (KXC) Company limited by guarantee Report and Audited Consolidated Financial Statements For the year ended 31 December 2024 Company Registration Number 07416629 Charity Number 1141658 Kings Cross Church Contents Pag• Logal and admlnl¥tratlv• Inlormatlon Report of tha Councll 5-11 Ind•pondent Examlner8 Report 12-15 statemont of Flnanclal Activitie• {Includlng Income & Expenditurn Account) Balanc• Sh••t 17 Notes to tho Flnanclal Staternonts 18-35 P8ge2of11 Kings Cross Church alan iv formatlon Status: Klngs Cross Church Is a charitable company limited by guarantee, incorporated on 22 October 2010 and registered as a ¢harty on 3 May 2011, Tho Coun¢ll {r•spo￿lbIo for lh• m•n•gam•nt of th •ffalrs of th• Company>: laln Alexandor Sophie Girthrte Frank Harper {Cholrman In 2024, re61gned 29 Aprll 2025) Revd. Pelef Hugh•8 Michael Kent {Chalrman appointed 30 April 20251 Revd. Canon Michaal Mitton (resigned 1 Sop 20241 John Parmit•r If•8lgned 29 Aprll 2025) Ro¢hel Hytton Jacob Allbaugh (appointéd 1 Nov 20241 Company 8•¢rntsry Rlchard Spen8 Company Numb•r 07416829 Ch•rlty Numb•r 1141658 R•gl•t•rnd Offlc• 242 Ponlonvlll8 Road London N19NG Church L•4d•rn (rnJpon8lbl• for l•ad•rshlp of tho ¢hur¢h's ad1v5t1￿) Revd. Peter Hughe8 and Mr8. B•• Hughe8. e•nk•rn Natwest 8ank Upper Streal London N1 OPQ CAF Bank 25 Kings Hlll Avanué Wesl Malllng Kent ME10 4Ja Virgin Money Jublle8 House Goslorth Newcastle upon Tyne NE3 4PL Th• Kingdom Bank Media Hou8e Padge Road Nottingham NG9 2RS CCLA Investment Management 1 Angel Ln London EC4R 3A8 Pago3of 11 Kings Croi$ Church Independent Audltor Chris Goodhe8d FCA Knight Goodhead Ltd 7 Bournemouth Road Chandler's Ford Hampshire S053 3DA Page4of 11 Kings Cross Chur¢h Report of the Council for the year ended 31 December 2024 The Council presents its report and the financial statements for the year ended 31 December 2024. Governance Structure and Mana ement Governing Document: The company was est8bli8hed under a Memorandum of Associallon Ihal established its objects and powers and is governed under ils Articles of Association. Members of the charitable company guarantee lo contribute an amount not exceeding £1 to the assets of the charitable company in the event of wnding up. The total number of such guarantees at 31 December 2024 was 8. Structure: The Council is responsible for the governance and management of the church. 11 has delegated responsibility for leadership of the church's activities, development of ils 8piritual life and its daily management lo the Church Leaders who are supported in that role by the staff and a Leadership Team. The Council retains lo itself final decisions over policies, employment of staff and finance. and lakeg ￿spOnSIbl11fy for all matters of leg81 and regulatory compliance. Members ofthe Council give their ts'me volunlarity and receive no financial benefit from the charity except as disclosed in the accounts. Council Member8 are usu81ty appointed by the Council and can be appointed by ordinary resolution at a general meeting of Members. Members of the Council receive all mandatory training In line with legal and diocesan requirements. Management: The members of the Counc51 are directors for the purpose of company law and trustee8 for the purpose of charity law. Members ofthe Council are drawn from the wider Christian community, l)oth ordained and lay members. They bring a mix of professional skills such as business management, propety. law and finance a8 well a8 those assocmted with church growth and social outreach. KXC'S key management personnel {known as the Associate Teaml comprises 3 sènior Clergy {Lead Pastor, Associate Vicar and Associate Pastoil and 3 employees of KXC ILead Pastor, Network and Projects Director and Operations Director). A key inlernal focus of the year has been around growing the capacity of the Associate leadership team Ihrough the iecruitment of Jess Bradley, Tim May and Emma Heddle. The new team represenls a significant investsnenl in building a robust senioi leadership team, and has been a key step in facilitating the ongoing growth of the congregation and our impact as a charity. All clergy salaries and remuneration are set and managed by the Church of England. KXC employees, salaries are set and approved by the HR Subcommillee13 members of the Council and Operations D1￿ClorI and key management personnel salaTies are set by the HR Subcommrttee (bmthout the Operations Directorfs involvement). Page5of 11 Kingi Cross Church Risk Management The Council conducts an annual review of the major risks to which the charity is exposed and systems are established or revised to mitigate those risks. Intemal financial risk5 are managed by the implementation of financial procedures for the collection, banking 8nd ￿cOrding of all donations and the authorisalion and recording ol all expenditure. The company employs a Safeguarding Lead and a Safeguarding Policy. The company also ha5 a data protects'on policy (recenlty updated to reflect GDPR regulalionsl. Ob ectives and Activities King's Cros8 Church is a nelwork Church wrth a hxal vision to 8ep4e God's Purpose to make all things new. We seek lo engage with those who live, work or pass through King'8 Cross, and develop missional too18 to engage with the emerging socifreconomic patterns across the King's Cross landscape. Our desire is lo develop disciples who live in and live out the story of God, following the way of Jesus with 8 redemptive vision lo seNe God localty (in King's Cross) as well as across the city in their workplace, universities and nelghbourhoods. The company 18 a charity and exists to promote the Christian Faith and alleviate suffering according to the mission of the Church of England and the values and tenets of the Anglican Communion summarised In resolution 11 of the third Lambeth conference follcwing the ChicagrpL8mbeth quadrilateral. In October 2018, KXC was designated a Resource Church wllhln the Diocese of London. Resource Churches are asked to resource olher local churches through planting, r8Vitalisation. and support with other resources. In addttion lo this, a new BMO was signed in the summer of 2019 that provides an indefinite provision for KXC within the wider network of parish churches around King's Cross. Public Benefit When planning our 8cbvities we lake account of the Charity Commission's guidance on public benefit and its specific guidance on charities lor the advancement of religion. Our activities are publiclsed on our website www,kxc. k. The Charty benelils the general public in provision of the following.. Public seNices of worship lincluding prayer meetings). Public celebrations ol the Christian Festivals,, Religious leaching to enlighten the public about the Christian Faith vthether by lecture, production of literature, evangelistic events or Christian ccnferences.. Leadership training., Aid Iwhether in the form of goods or service9)', Funds for the relief of sickness. hardship or di8tress', Guided activities for sludenls, youth, chIld￿n and vulnerable people in general. Page6of11 Kings Cros8 Church Achievements and Performance Our senior leadership team defined 7 strategic priorities for the church Sn 2024, with special focus on 4 p8rticular prioritles {in boldl. enabling us to direct our attention on aclivilies Ihat align with these priorities.. Priorilising the presence Multiplying mature disciples Raising healthy leaders Sharing Jesus courageously Investing in the next generation Making room at the table Planting farth-filled churches As we a5 our business-as-usual activities, we want to highlight the areas in which we saw the most growth and change, per the below.. Pr•sonce We baptised a total of 21 people In 2024 we released 2 live albums recorded at KXC. We also collaborate(I with with G85 Street and Manor Collective lo release another liv8 EP. Conlinued working with local churches lo host 'Joint Prayer Gatherlngs, and launched an 'AII Night of Prayer, for the emerging generalion. In 2024 our worship music had over 7.5 million 8lreams. Around 180k average monthly unique individu81 lisleners18cros8 all platfomis). We made changes lo our service limes, enabling us to double our kids work Capacity. Formation We launched our 24125 Apprenticeship Year with 8 apprentices joining the staff team acr055 variouB Streams, to gain real behind-lhe-scenes church life experience, teaching and leadership training. We had 213 sign-ups to Newcomers Hub across 3 lem)8. We 8180 hosted 5 newcomers meals wrth a total of 381 sign-ups. We developed and rolled out of a new Pastoral Framework- bringSng consistency and clarty around the process of accessing pagtoral care and an internal Pastor81 Oversight Group enabling oversight of pastor81 cases on a triage basis. Student Ministry also continued to thrive with around 65 students ￿gUlarlY attending 'Studenl Gatherings, in 2024. Famlly We received conffinnation of a grant which V￿uld allow us to hire a new Youth Pastorwilh a focus on building partnerships wtih other churches in orderto develop oulreach opportunities in the local a￿a. In order to Create more space for our kid5 and young people. we in¢￿8$ed our kids provision on a Sunday. We now have 55 kids and youth on average on a Sunday. P8ge7of 11 Kings Cross Church We launched a Youth Football outreach project and have seen new young people connect wf(h KXC as a ￿$￿11. Average of 46 people (adults and children) attending Little Haven each week. These families are predominantly not those who attend KXC lfjds wort( on Sundays. Launched a Gids Bible study for our younger youth. Mlsslon We conlinued to explore new ways to engage the bcal community, inclLKling opening the 'Community Cafe, doors more regularly during the week. We gave out 30 grants of £300 a time lon average) through our KXCaTe Fund - a lund for those in our community who are experiencing financial hardship. Eligibilty crileria is evidence based and we use the calegories of Housing, Food, Fuel, Men181 Heamh, Physical Health and Domestic or Extem81 Abuse. Our Prison team have continued to run 2 services a month in Pentonville have a large and committed volunteer team that serve on Sundays and a number also go in throughout the week lo help on Alpha and The Difference Course. PTayer on the Streets ran successfully until May 2024 with a number of individuals capturing a real heart for this- 80me amazing testimonies of healing and people encountering Jesus on the street8. Our local mission activities continue to grow and we have more than 200 volunteers from the church engaging regularty in mi&week mission vnrk. H81ped 8 indivldua18 Wlth asylum seeker status find and keep stsble housing. On top of those 8 we've supported a further 15 individuals with things like asylum appeals or accessing work. We've stsrted a new wornen's craft and conversation group, which has enabled us lo build and grow connections with women and f8milies seeking asylum. We made the decision to close down OUT'Brunch' offering at the end of the year. Op•ration• We hired 5 new members of staff and engaged 2 8upemumerary volunteers, working closety with external org8nisalion$. lrnplemenled enhanced parental leave pay and sabbats'cal policy We ho8ted over 1500 people across our Christmas services. We took approx 300 members of the church to Wildfires festival In Summer. We have continued lo develop the TABLE famity of chuTche5, in particulady planting Well City Church in Slockwell. TABLE has groym to a family of 13 churches across the UK, and we are preparing for it to become 8 separate CIO in 2026. We host8d over 80 extemal event hires to our Upper Room venue. HiTer8 r8nged from charity AGM'S, lo technology and innov8tion focussed netwoiking events, to storytelling evenings. Page8of 11 Kings Cross Chureh Future strategy and plans: The future plans of King's Cross Church are shaped by the Bishop's Mission Order that was signed in 2019. focused on an updated Area of Mission. We are looking to continue to develop our Work in the local community Serving the individuals with a background in homelessness, refugees and asylum seekers, young people at risk of crime. single mothers or families with low income, and other vulnerable groups who find theMSe￿eS in cycles of poverty. We also aim to develop our work with students. the local business communty, and young families in and around the King's Cross area of London. Our Church priorities as above also shape our future strategy and plan5. Space for Sunday seTvices r8mains an issue, and in 2024 our average church size attendance grew lo Circa 1,250 people each week. and we continue lo explore more options for creating room for others lo join. Rlsk Managem•nt Members of the Council continualty review the risks and have a risk management slTategy in place lo ensure appropriate procedures are in place to identify, monitor and review these Tisks on a regular basis. A continual review of the Tisks both fin8nci81 end operation81 th8 charity may face is performed by the Operations DirectOT in conjunction with members of the Council. enabling the estsblishment of systems and procedures lo mitigate any risks Ihal have been identified. Procedure8 are implemented through consullalion wrth members ol the Council lo minimise any polential impact on the charity should those risks malerialise. Major risks are considered lo be those that may have a significant impa¢t on.. Operational performance, including rlsks to employees, volunteers. the children supported and reputation., Financial sustainability, including stability and securty of income., The achievement of aims and objectiV8S Fundraislng In line with the reporting requirements included in the Charities Act 2016, members of Council confirm that all fundraising is done in compliance with fundraising best practice. All fundraising aclivilie8 are in line with the vision, values and mission of KXC. During 2024 we did not employ any professional fundraisers wth all funds being received through general giving, gift day appeals and ministry specific grants. KXC received no complaints or criticisms during the year about its fundraising activities or practi￿9. Subsldiary ccmpanle• KX Coworking Lld {Irading as ARK Coworking) continued lo operate a thrivlng coworking space at All Saints Church. The space houses fTeelancers, entrepreneurs, f￿elancerS and small businesses and is a registered Affordable Workspace and certified B Corp. Trading was consistent throughout the year and the new solar PV installation has significantly reduced th8 building's carbon emissions. There We￿ a number of team changes, with Directors Nick Johnson and Gavin Turnbull both having moving away during the period. Looking ahead there are further ch8nges planned to the All Saints building to enable All Sainls lo retum for Sunday worship. Page9of11 KingA Cr(Jss Chureh KXC Facilities Ltd continued to operate King's House events, and during the period hosted a Tange of corporate, charitable and creative events. Clients included Flower Al, Cook Food, Streatherfs Solic((ors and Night of Parables. The business has gro considerabty over the year. and moving into 2025 is looking lo continue to develop through reviewing the potential for 8 coffee shop in King's House 8nd operating event5 in the revised All Saints building later in the year. Financial Reviow The income for the period amounted to £2.090.122 {2023.' £1.990,1141. Most of the income is from gifts from church members, supporters and associated gift aid receipts. A Significant proportion of this increase came as a re$ull of increased grant fvnding and increased room hire via the KXC Facilities Limited trading subsidiary. Expenditure for the year totals £2,191,15912023.' £1,878,902) resulting in a deficit for the year of £101,037 12023.. surplus of £111,212>. Total funds al the year end totalled £1,795,567, which included restricted funds of £101,388. Glvlng policy: The church's policy is to give away at le881 10% of regular giving income to P8rtner organisalion8 in furtherance of the church's own charitable objects, and to commit not less than 10% to other church-led missional activities. Giving Isee Mission) has been in furtherance of the Christian faith and the relief of poverty and haidship. This is over and above the ¢C￿trIbution to the Diocese of London Common Fund. The giving to partner organisations is tracked via the Missions designated fund (see Note 15 In the financial statements.) This year the church has not given away the full 100/0 of donated income, so additional lund8 have been set aside to be Spent in 2025 (as shown by the transfer into this fund)- The remaining 10¥0 of donated income is used to fvnd communty engagement actNltle5 carried out by KXC through staffing costs directly related to those activities. Inve8trnént pollcy: The Councll periodically reviews ils investment policy. Our investments are currently placed with 8 range of banks. Reserv•8 Policy: The Council has established a F)olicy whereby the unrestricted funds not committed or invested in tangible fixed assets {'the free ￿serVes,) held by the charity should be in the range of 3-12 months of the resources expected lo be expended,. Ihis equates to approximately £507.957 to £2,031,829 in general funds. Al this level, the Council feels that it would be able to continue the current activities of the charity in the event of a significanl drop in fvnding. Should Ihis happen, 51 would also be nece55ary to consider h¢)w the funding would be replaced or activities changed. As at December 2024 the unreslTicled free reserves amounted to £530,955 (which includes free rese￿eS and an unreslricled 'growth fund), which sits within the specified range. Page 10of 11 Kings Cross Church The Council Members (who are also director6 of the Company for purposes of company law) are responslbie for preparing the report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Ggnerally Accepted Accounting Practs'ce). Company law requirès the Council to prepare financial statements for each financial year that 9lve a true and fair view of the state of affairs of the charitable company as at the balance sheet date and ol ils Incoming resources and application of resources, including Income and expendituré, for the financial period reported. In preparing those financial statemen18, the Council should follow best practlce and.. • select suitable accounting policies and then apply them consistently: observe the methods and principles in the Charilies SORP., • maka judgments and e81imate$ that are r8a8onable and prudent., • $18te whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements., and prepar8 the financial slalements on the going concern basls unless it is inappropriate to assume that the company wlll continue on that ba818. The Council Is responslble for malnlainlng proper accounting records which disclose with reasonable accuracy at any lime the financial position of the charitable company and to enable them to ensure Ihal the financi81 statements comply with the Companies Act 2006. The Council is also responsible for safeguarding the assets of the charrtabl• company and lor taking reasonable steps for the prevention and detection of fraud and other irregularitles. The Council are a180 responsibh for the content8 of the Trustees, Report. and the responsibllity ol the auditors in ￿latiOn to the Trustees, Report is limited to examining the report and ensuring that, on the face of the report, there are no Inconsistencies wlth thg figures disclosed in the financial Statements. So far as each Council Member Is aware, there is no relevant audit infom)ation of which the charity's auditors are unaware, and each member has taken all the steps that they ought to have laken as a trustee to make themselves aware of any relevant aud Infomialion and to establish that the charity's auditors are aware of that information. This report has been prepared in ac¢ordance wlth the Acxounting and Reportlng by Charltles.. Slalement of Recommended Practice applicable to ¢haritieB preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published in July 2014 (effective January 201518nd Ihe provisions for small companies under Part 15 of the Companies Act 2006. Approved by the Council on and signed on its behalf by.. t4 202¥ Michagl Kent Chalrman Page 11 of 11 INDEPENDETrif AUDITORS. REPORT TO THE MEMBERS OF KINGS CROSS CHURCH Icornpany Ilmited by guarantee and not havlng a share caplt411 Oplnli We have audSted the flnantlal statements of Klngs Cross Church (the cornpany and the group) for the year ended 31 December 2024, which cornprSse the Consolidated Statement ol Financial Activitie5, Consolidated Balance Sheet. Consolidated Cashflow Staternent and the related notes. The linancial repDrtin8 framewDrk that ha5 been applied in thelr preparation is applicable law and United Kingdorn Accountin8 Standards including Financial Reporting Standard 102.. The Financial Reporting Standard applicable to the UK and Republic of I￿land (United Kingdom Generalty Accepted Accountln8 Prarticel. In our oplnSon. the flnancial statements.. give a true and fair vlew of the state of the 8roup'5 and the charltablè cornpany's affairs as at 31 December 2024. and gf it5 incorne and expenditure lor the year then ended., have been properly prepared in accordance wlth United Kingdorn Generally Accepted Accountlng Practlce, and have been prepared In accordance wlth the requ5rement5 01 the Companies Act 2go6. B•sls ol oplnlun We conducted our audlt Sn %cordance with Internatlonol Standards on Audltin8 IUKI IISAS IUKII and appllcable law. Our respon51billtSe5 under those 5tandard5 are further descrlbed in the Auditor's responslbilltles loi the audit of the flnanclal statements section ol our report. We are independent of the Charlty In accordance wlth the ethlcal fequlrements that are relevant to our audit of the financial statements In thè UK, Includin8 the FRUS Ethlcal standard, and we have lulfllled our gther ethical responslbllities in accordance wlth these requirements. We believe that thi audit evidence we have obtained is svlliciertt and approprlate to provSde a b¥s15 for our opinlon. Concluslons rel¥tI￿ to lo1￿ toncem In aud￿5￿8 the flnanclal Statements, we have concluded that the trustees, use of the golng contern bas55 of accountlng in the preparation of the flnancial staternents Is approprSate, Based on the work we have performed, we have not Identlfied any matèrial unf ertalntles relatln8 to events or conditions that, Indivldually or collectlvely, may cast signilicant doubt on the charltable company's ability to continue as a going Concern for a period of at least 12 month5 from when the flnancial statèments are authorised for issue. Our responsibilltles and the responsibS1itles olthe trusteeswlth respect to 80Sn8 concern are de￿rIbed In the relevant seclions ol this report. Oth•r Inlorniatlt The trustees are responsible for the other information. The other Information cornprises the information included in the annual report other than the financSal statements and our auditorf5 report thereon. Our opinion on the financial statementsdoes not cover the other inlorrnation and, except toihe extent otherwise expllcltly stated in our report, we do not express any form of assurance conclusion the￿on. 12 INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF KINGSCROSS CHURCH (Company Ilrnlted by guarantee and not havin8 3 Share capital) Our responslbS11ty Is to read the other information and. in dolng so, consider whether the other infom)atlon is materially Inconslstent with the financial statements or our knowledge obtained In the audit or otherwise appears to be materlalty misstated. If we identify 5vch materlal Inconslstencles or apparent material mis5taternent5. we are requlred to determlne whether there 15 a rnaterial m155tatement Sn the financSal statements or a material mi55tatement of the other Informatlon. If, based on the work we have performed, we conclude that there is a m*erial mi5Staternent of thls Dihei informatDn, we are required to report that fact. We have nothing to rèport In this re8ard. Oplnloni on other matters préscribtd by the Companles Art 2(K16 In our oplnlon, based on the work undertaken in the course of the audlt.. the InformatSon given In the trustees, report for the Ilnantial year for whlch the financial statements are prepared15 con5Istent wlth the flnancSal statement5', and the trustees. report has been prepared In accordance wlth appllcable le8al reoulrements. Matters on whlch w• are requlred to eeport by eJtÉ•ptlon We have nothln8 to report In respect of the followlng matters where the Companles Act 2006 requlres us to report to you W. In our opinion.. the cornpany haj not kept adequate and sufflcient aicountlng record5. or returns adequate for our audSt have not been received Irom branthes not vlsited by us., or the company's flnanclal 5tatempnts arp nnr in Agrppmpnt wlth the. w.rniintinq rocords and retums,. or certaln disclosure5 of tru5tees' remunerotlon 5pe¢lfted by law are not made., or we have not recelved all the inlomiatSon and explanations WE requlre lor Our audlt., or the trustees were not entitled to prepare the financlal staiements Sn accordance wlth the 5Fnall tompanies regime and take advantage of the Small tompanles exemptlon In preparlng the Tru5tee5' Annual Report and take advanta8e of the small companies exemption from the reoulrernent to prepare a 5trate8ic report. ReBponslblllilos of th• tThst••s explained more lully In the trustees, responsibilitie5 Statemeni. the trustees are responsible for the preparation of ihe linantial statemenrs and for beSn8 satisfied that they give a true and fair view, ané for such Internal control as they determine Is necessary to enable the preparation ol financial statEments that are free from material mlsstatement, whether due to fraud or error. In preparing the financlal sratemenrs, the trustee5 are responsible lor assessing the charltable company's abillty to continue as a Boln8 concern, disclosin8, as applicable, matters related to 8oln8 concem and usln8 the Roing concern basi5 01 accounting unless the trustees elther Intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 13 INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF KINGS CROS5CHURCH (Company limited by guarantee and not having a shale capltall Audltorf5 respon$lbllltl•s forthè audlt otthe financlal statements We have been appointed as auditor under the CompanSe5 Act 2006 and report in accoidance with the Att and relevant regulations made or having effett thereunder. Our oblectlves are to obtain reasonable assurante about whether the financial statements as a whole are free from material rni55tatement, whetherdueto fraud orerror, and to Issue an auditor's repor( that Sncludes ouropinion. Rea50nablE assurance Ss a high level ol assurance. but 15 not 3 guarantee that an auditconducted in aicorllance with IS￿ IUKI will always detect a material rni5St3tement when it exist5. Mi55tatements cèn rlse from fraud or error and are considered material if. individually or in thE ag8re8ate, they could reasonably be e¥pected to influence the economic decisions ol users taken on the basi5 of these linanclal statements. Irregularitles, including fraud, are instances ol non-complionce with laws and regulatlons. We desl8n procedures in line wlth our responsibilitles, outlined above, to detect material mlsstatements sn respect of Irre8ularities, includlng fraud. The extent to which our proceéures are capable of detectln8 Irre8ularlties, includin8 fraud15 dptailed below.. The engagement partner ensured ihat the engagement tearn collectively had rhe approprlate Competence, capabilities and skllls to ident5fy or recognlse non-compllance wSth appllcable laws and re8ulatlons. We Identified ihe law5 and regulat5ons applicable to the charitable iompany through dls£usslons wrth trustee5 and other management and we assessed the extent ol compliance with the laws and regulation5 Identilied ab￿e thiough making enqulries of management and Inspectln8 le8al corre$pondence, We assessed the susceptibility ol the charltable tompany's flnanclal statement3 to material mi55tatement, includin8 obtainlng an understandln6 of how fraud mS8ht occur. by rnaking enqulries ol managemeni as to where they £onsidered there was susceptlbility to fraud. thelr knowled8e ol actual, suspected and all4ed fraud and conslderlng the Internal controls In place to mltlgate r15k5 of fraud and non-¢omp15an£e wlth laws and regulations, To address the rlsk of fraud through management blas and overrlde of controls, we performed analytical procedures to Sdentify any unusual or unexpected relatlonship5, tested journal enirles to identify unusual transattlons antl Investigated the rationale behlnd 518nlflcant or unusual transactlons. In response to the rlsk of Irregularltle5 and non-compliance wlth law5 and re8ulatlons, we designed procÈdures which Included. but were not Ilmited to.. a8reelrng f1n3nclal Statement disclosurÈs to unilerlyin8 5UPPOrtln8 documentation,. reading the minutes of rneetin8s ol those charged with 8overnance', and enquirin8 of mana8emenl as to actual and potential litigatlon and clalms. There are Inherent limitations in our audit procedurès described above. The more removed that laws and re8ulatiDns are from financial transattions. the less likely It Is that we would becorne aware ol non- compliance. Auditing standafds also limitthe audit procedures required to identify non-compliance with law5 and re£ulatlons to enquiry ol the trustees and other management and the Inspection of re8ulatory and le8al correspondence. if any. Material mlsstatements thar arise duÈ to fraud can be harder to detect than those that arise from error as they may involve dèliberate tancealment or collusion. 14 INOEPENDENT AUDITORS, REPORT TO THE MEMBERS OF KINGS CROSS CHURCH (Company limited by guarantee and not having a Share capltall Alurtherdescription of ourresponsibilltles for the auditof theflnanclal statements Is located onthe Flnanclal Reporting Council's website at.. htt www.frc.oir auditors aLidit-as5ur3nce audiior-s-fL'S lor-thp-audir-nf-rhp-fi descri rion-ol-the-auditor%E2%80%995-res s-lor This description forms part of our audltorfs report. Knight Goodhead Limited is eligible for appointment as auditor of the charitable company by vlrtue of Sts Q1￿1b111ty for appointment as auditor of a company under section 1212 of the Companles Att 2006. ilse of our report This report is made solely to the charitable companws member5, as a body, In accordance wSth Chapter 3 of Pait 16 01 the Companies Act 2006. Our audlt work has been undertaken so that we mi8ht state to the charitable companls members those matters we are required to state to them in an auditorf5 report and lor no other purpose. Tothe fullest extent permitted by law. we do not atceptor assurne responsibilityto anyone other than the charitable company's members a5 a body. for our audit work, for thls report. or for the oplnions we have formed. CJ Goodheid FCA Senlor Ststutory Audltor Knliht Goodhead LlmSted Charrered Accountant5 and Statutory Audltors 7 Bournemouth Road, Chandler's Ford, Eastlel8h, Hampshlre, 5053 3DA 15 KINGS CR05S CHURCH (Company lirnlted by guarantee and not havlng Share capital) CONSQLIDATEO STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ÉNDEO 31 DECEMBER 2024 Ilndudlni InE•m• and EMp•ndIrur•4c￿un1> Unrqs¢rl¢ted lund¥ R￿lI￿led Totallunds Totsi fundi Mot 2014 2013 IIICOME DonJtlon$ and legacles 1,459,512 61.987 119,806 215.905 189,7E 1,649,272 62,987 119,806 215,905 1.580,617 71,112 39,575 251.670 KXC Facllilles Ltd lextemal IntDmel KX CoworkinB Ltd (external Incomel Investment Incorne 21.318 20,801 21,351 20,801 9,667 37,473 Other Incorne TOTAL INCOME 1,900,329 189,793 2,0￿.122 1.990,114 EXPENOmlRE Chorbtsblo art1¥tt￿5 2,031,829 159.3JO 2,19L,159 1,878,902 TOTAL EXPENDITURE 1,031,BZ9 159,330 2,191.159 1.878,902 PIET INCOME FOR ThEVÉAR OEFORETRANSFERS 1131,SWI 30,463 1101,0371 111,212 TRANSFERS 8EIWEEN FUNDS 3,566 13.5661 METINCOME FOR THE YEAft 1127,9341 26,897 1101,0371 111.212 TOTAL FUPID 8ALANCES BROUGHT FORWARD 1,822,113 74,491 1,896,604 1,785.392 TOTAL FUNO BALANCU CARRIED FORWARD 14&15 1,694,179 101,388 1,795,567 I,696.￿4 The staternent ol flnantial actjvtties include5 all 83in5 4nd1055e5 recoin15ed In theyear. All Income and expendlture derlves from tontinuln8 attivltle5. 16 KINGS CROSSCHURCH IComp•ny Ilmlted byiuaranTre and not hi*Atv4 shar• c4Wtall IEI3ISTeRID NUMItft: 7416629 •AW4CE SHEET AT￿ DECEM•ER 2014 Group 1024 FIXÉDASSEIS Trr4ltd¢ assets In¥estrMnts 1.91Qa45 LOI8A>5 LYY.691 891A65 io OJPREPfA5Strs c¥￿0r5 151lJ7 111,703 034.986 746,609 1$4.4S4 724,207 874161 687.521 842,105 955,345 CKDThQA&' amtyjnts du*￿IN￿oney•1i 12 IW906 1182,595 1145,8611 114&1451 IJETCURAeNT ASSITS 65AIIY 771750 732,516 CAEDifoAS.. d￿1th mw* w•y•ai 13 179&397 IW,6011 17x3971 1•94,6011 T*sse7S L795,567 IM604 1,65Q124 1.729.182 FUNDS Unrnitrkt•O lundi is L694.l79 101,308 1,122,113 71,491 L$48.736 1,154,191 R•iirf¢Md fvnds TOTAL FUND5 16 1,199,567 1,896,6(51 1,650.124 1.729.382 Tht hw• b¢4fi pr•p•r•d In•¢Kl•l pr0￿$￿10fPv¢ Is dth•thnp*kn A¢1 2C4)6i••Ww lmlllc￿PlnI01 Appiwd tsytle Trnsw¢5 on Ind thekhhllbv * 20z5 rrustee 17 KINGS CROSS CHURCH ICompar*y Ilmlted by guarantee and not havlng share capttall CONSOLIDATED CASHFLOW STATEMENT FOR THE YeAR ENDED al DECEMBER 2024 2024 1023 NETCASH FLOW PROVIDED BY OPERATING ACTIVITIE5 26.264 141,224 CASH FLOWS FROM INVE5nNG ACTIVITIES Interest re(el¥ed Flxed a55et additions sposal proceed5 21.351 168,9901 594 9,667 163.1481 CASH FLOWS FROM FINANCIt4G ACTIMTIES AddlllonalllrEpayrnent5 pfl borrowing 193.7061 IXI,3031 NETCASH FLOW 1114,4871 78,490 ChanRe cash and cash equivolents In the year C•sh and cash equlvalent at siart of the year Qsh Ind cash equivalents at the e￿d uf theyeir 1114,4871 78,49J 802,W8 723.518 687,521 802,11)8 NOTES TO THE CASHFLOW STATEMENT FOR ThE YEAR ENDEO 11 DECEMBER 2024 I NET CASN FLOW PROVIDED BY OPEKATING ACTIVlllES Net movement in fund5 for the yeir 1101.0371 121,3511 146,CQ6 111.212 19,6671 139,918 Depreclatlon Los5 on d15POsal of flxed assets D¢creaselllncreaselin debtors IDocrEas¢lllncrea5e In credltors 11,2471 3,&93 38,7511 I2￿905> cash flow fvom operatln8 •¢llvl¢ies 26,264 181,224 2 ANALYS15 OF CASH AND CASH EQUIVALENTS 2024 2023 Cash at bank ènd In hand 687,521 802,Ci 687.521 802,0 3 ANALYSIS OF CHANGES IN NET DEBT At At31 lJ•n2024 C•5h IhM JI Det 2014 Cash at bank and In hathd 802,008 1114.4871 687.521 Oebt due within one VEar Oebt due afterone year 189.8371 1894.6011 12,4981 96.204 192,3351 1798,3Y71 1182,4301 120,7811 1203,2111 18 KIP46S CROSS CHUACH (Company Ilmlted by guarantee and not having share capitol) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED JI DECEMBER 2024 I ACCOUNTING POUCIES lal Accountlng conventlon The Inancial statements have been prepared In ac¢ordanee wlth the Financièl ReportinÉ 51andard appllcable In the VK and Republic of Ireland IFRS 1021 ond ihe krountlry¥ and Reporting by Chartties.. siatemeni of Recornmonded Practlce applicable tocharltles preparln8 thelr acioun15 In accordance with FRS 102, and the Companles Aci 2006. The cha￿ty meets the ¢kfinltion of the publpc benefit entlty under FRS 102. Assets and IlabllltSes are Initial￿ reco8nised ht hlsiorical cost or Iransaction volue unless othe￿Ise Stated In the relevant accountlnK pollcy note. The accounts have been prepared an the pln8 COnCtrn basls. There ale no maierSal uncertalniles about rhe chadty's obilllv continue. Ibl Fund atcountlfl4 Unre51rlcled lund5 are avoll•t4t for use ai the dlscretlon ol the trusree5 h furtherance ol the lenetal oblectlyes of the Oesignated lurnds ire uThre5trided funds earmarked bylhE Council fof partieular purposes, rte5tricted funds OIE 5ublerted to re5tri¢iions theiv expendlture Imposed by thedonor. lel Income l incorne Is Included in the StJtement of Financiil Act￿lI1e5 when the l￿rI1¥ h entltled 10 the Income and thE afficunt tan be quonllfied reisonablé accuracy. The followlnaspeclfic pollcles are opplied to pirtlcular tattittrtès of Income.. Donètlonj and le8a¢1•5 Irv recd¥ed by w¥y of 8r•nts. donaiians, le8aclts end ￿ft5 4nd Ss inclvded In full In the Staternent of Finantial A(tiViiieswhen receivatrAe. Grants, ¥Yhen ontitlement Is not ¢ondifioMI on the delivery of a speclfic petformance bv the charity. are reCrfnl￿d whon the charlty becomes UnC¢￿dItIOnal￿ eDiiiled to Ihe qrant. Chailt•ble a¢ll￿tIeS Ineome and Investment Income are Included when r•¢¢lv•bl¢. Resources are deferred when, Ji Ihe end of an aeeountin8 perlod. Ihey hav* been iecelved but the charlly has yet to become untDnditionally entitled to Ihern. The value of seThices promded by volunteer5 h05 not been Inclyded. 19 KINGS CROSS CHURCH (Company Ilmited by gu4rantee and not having share capltsll NOTES TO THE ACCOUNTS FOA THE YEAR ENDED JI DECEMBER 2024 I ACCOUNllNG POLICIES Icontlnued Idl Eyndhur Expendlture Is recognlsed on In x¢ru41 b051S JS o lobility 15 incurred. It Int1￿deS 8n¥VAT paid. For KXC Fadllties Ltd and K X CoWor￿n8 Ltd, It excludes any VAT pald. Charltabl¢ attlvltles expendlture comprlse5 of those costs Intutted by the ch¥lty in the delhfEry of Its aaivhties and 5enAces lor it5 6Enefi£lJr￿S. It include5 both costs that tan be allocated dlretlly to suth ietlvlties ind thDse costs of an Indlrlct nature nttt5sary 10 liJPPOrt them, AII CD5ts are allacated betweeTh the ewendirure cate8orfes Df the Statemtnt ol Flnin¢l•l Activitie5 on o b0515 desl8ned to refittl the use ofthe resource. Cost[ relatlng toa partlcular 8Ctlvfty arc alloEated dlrectlv. lel Tanilbleassetsand deweclatlon Flxed •sseis ère capltallsed for on80in8 use h￿thIn the comp4ny, whwe the Indlvldual c05t of the asset exceeds Él,000. Tanllble assetsaie stated Jt cost, less accumulated deprEClOtlon and actumulated Impélrrneni losses. Depredotlon 15 prov￿jed on flxed asset5 to spread the ¢ost over the estlrnaled u5elul Ilv85 of ihe relevant assets at the foll￿￿￿8 rites.. Computer equlprneTr¢ 20% or 33% itralBht Ilne 20%, 25%or 33% stral8ht Iln Over Ihe terrn of the lease, or • shorter perlod, •$ •ppraprlit2 Over Ihe terrn of Ihe lease Leasehold improvemènts Land and buildin85 The char1t•￿e Eompany assesses •t each ￿Portin@ dite whtlher there 1$ in Indlutlon t￿1 an assei rniy be Impèlred. The imp?Irrnent 1055 Is determined by compbrin8 the t#rryin8 value amount wilh the recoverable amount of the asset. The recoveratye 3Th￿￿nt Is the hl8her of the assets or the tish-¥Ellera¢ln8 unlt's falr value le55 Costs to sell and value In use. Where the carrylng value exceeds thp recoverable amaunt, the a55et deemed Impalred and 15 ¥wltten down to rocoverablevalue. In P¢nsknn tDsts Pensions ère pr￿Ided lor staff by Means of money pvrchase persC4)al pension schemes to which thè thurch m•k¢ • contribulion. Contrfbutions In respe￿ ol these schemes ale chJryed to the 5titement of Finantial Attivitiei for the year In whlch they are payable to the scheme. l*fferences between eontribuUon5 payable Ind contribu¢ion5 Jctyolly paid In the year¥re showh •5 othEr ¢redltor5 Ot the year end. 181 Flnanclal Instrumefiis The char￿able cornpany only enters Inio basic financlal Instrnment tr3nsacilDlls that result In the recoAnltion of flnan¢S81 as5•ts and liablliiies like trade and other dEbtors, cash at bank and ¢reditors. These b35ic Ilnanclal Snstruments 8re Initl8lly mea$ured ai tr•n5attion price ènd are sub5Equenily carTled at amortlsed c051 USlnB Ihe effectlve Interest method. FiDanck11 55ets and Ilabllyfles cla55ified a5 due withln one year ore not omort15ed. lfvl Tayatlon Current tax 15 provided ot amwnt5 expecied to be paid u51rn8 the tax rates and laws that have been enacted cr sub5t3ntially enacted bythe rEportln8date, 20 KINGS CROSS CHURCH Icompèny Ilrn￿ed byguarantee and not Shère capknll NOT￿ TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 1024 I ACCOUNnNG POLICIES Iccffjtlnuedl 151 Investments Flxed asset Investments ire itatEd ot market value when held 8t the ba￿nce sheet dute ond the i•ln or1055 taken io the Statement of Fin•ncia1 Actlv5tle5. The Shares held ID Its tradln8 subsldlarles are statÈd at C05t. 2 LEGALSTATUS The ¢h•dt•lJe ¢ompany Is a compBW Ilmlted ty guarantee and ho5 no shère capltal. The ch•rltable comp•ny was Ineorporated on 22 October ZOIO In Enland and was feOsitred Dn 3 Moy 2011 with the Charlty Commlsslon In En8land and Walps. Thè re815tered office ofihe chirltable company1$ 242 Penton￿lIE Aa•d. London, 141 9JY. 21 KINGS CROSS CHURCH Icompany Ilmited by8uarantee and not havlng share Capltall NOTES TO THE ACCOUNTS FOR THE YÉAII ENDED 31 DECEM8EA 2024 3 DONATIONS AND LEGAcies LINe%trlcted fun¢k R•strl£t•d funds Totsl l￿d5 Tutlll funds 1023 Non 8ift aid donatiOn5 Glft ald dDnations Gift aid recoVera￿E Special appeals Grahi incorne 297,924 916,052 240,936 2,800 1,8 6.465 28,770 6,771 304,393 944,822 247,707 2,8 149,550 1,649,272 434,018 58,738 27Z.706 2,855 L2,3QO 1,580.617 147,750 1.459.512 189,760 4 CHAf¢iTABLE AcfiviTIES INCOME Unr•5tr1ct•d funds Total T￿11 funth 2023 Church Weekend Awav OthEr event incornp Book and Medla Income 20,492 10,223 32,272 62,987 20,492 10,223 32,272 44,895 9,485 16,732 62,987 5 STAFF COSTS 2014 2013 Wa8¢$ and 5alorie5 836,999 71.333 38,CKII 80,172 1,026,505 630,703 64,072 32,447 34,817 762,039 PenslDll Accommodatlon and othereosts The a¥era8e number tsfstaff employed durlng the year wa5 3412023.. 311. No employèe retèw efflolument5 of £60,( or mure duringthis year crth? prlor yeor. At the year end Ihere were outstandln8 pen51on contrlbutlons p8y3ble of £4,343 12023.. £4,325). Tot•1 penslon contrlbutlons of £38,1K)1 12023.. £32,447) wpre p•kl by the charltable company ané ère Included in the Stotement or LXJrin8 Ihe year kty mana8empnt persvnnel recdved rernuneraiioh. Intludln8 pen51on contrlbutlon5, of £98,217 Ipold to three tmployee5112023.. £75,710 pald lo three employeesl. A fvrthpr É18.086 was pald throv8h KX Coworklng Lid to one ofthese ernployee512023.. further £49.140 pald to two of theseemplDyee51. Ouring the year two trustees was reimbursed £1,5Z3 IZ023.. £758 to one trusteè) for ¢ravd and accommodatSon expense5 incurred on the Charity's behalf, 22 KING5 CROSS CHURCH (COM￿ny11￿1ted by guarantee and not havlng share capitall NOTESTO THE ACCOUNTS FOR THE YEAR ENDED 310ECEMBER 2024 6 EXPENDtTUftE UnvestrlctEd lufidi Re5trl(ted fundi Totsl lund5 Total 2024 2023 lxrtrt￿Sts Worship Sunday ser¥lc¢s Son8writir*8and production ve evenis Fe5tlval servlce5 Hubs and patt?rn Conferences athd events Famlly Ilfe Student5 Leadershlp de¥ek)pment Women 21,255 8,915 27.B77 a6 IB,658 9,829 45,3CQ 21.418 67 533 21,322 26,112 9,818 5,799 27,877 36 18,658 9,829 45,3 Zl,750 7,609 10,416 197 1,897 6,438 28,966 19.468 2,717 65,462 15,480 10,7L5 S,297 332 10,416 197 1,826 4,491 23,898 Newcorner5 Compasslon and Ipcèl ￿￿￿19n5 Global mlsslons Evaniellsm Grènts Chufch Plantlni Chufeh PlantlM8- St Gre80ry's èssels 8lfted 6,438 22,555 6.411 8,345 79.670 15,92J 50J 8,845 82,670 15,923 11,624 58,437 2,134 97,662 7,189 222,596 16.895 238.088 16,895 238,088 KX Coworkln8 Lid lexiein31 c05¢51 Tot•1 dlrect costs $61,311 10,8S2 572,164 590,789 23 K114GS CROSS CHURCH Icompany Ilmited by Kuarontee and not ha¥lTrg share capf(all NOTES TO THE ACCOUNTS FOR THÉ YEAR ENDED 31 DECEMBER 2024 6 EXPENDITURE Icontinuedl U*restrlcted fut)ds Aestrlcted lunth Totslfvndi 2024 Totsl fvnds 1023 Dlr•tt (osts Is•epre¥tow 561,312 10,852 572,164 s￿,789 Supporttasti Venue hlre Hire costs shared equlprnent and consumab￿5 21,360 17,407 10.157 2,055 17.365 86S 30,222 73,397 1,899 7,152 24,717 1,916 57.705 946,817 ItY),(NYJ 3,347 24,7D7 17,407 10,494 2,055 30,096 1,165 30.252 79,397 1.954 8,713 50,577 1,916 71.095 1,026,505 I￿.0[￿) 3,OY4 27 11,185 1,296 41,014 112,170 39,101 19,596 10,351 337 Office cost5 Tra￿1 ènd subslstence Staff traininaand recrultment Owned and le•sed f•¢ilities Flnanct Comrnunicatlons ènd medl 12,731 22,430 850 19,715 63,653 1,133 7,594 6,302 17,857 54,539 762,039 95,C 2,358 55 1,561 2S,8 Cler8¥ housln8 Curate and ordinand c0515 Ways Jnd salarles Common fund Trustee expenses Legal and professlonal tees countancy fee Payroll f•e5 •nk char8e5 Ind I￿n IMere5t Oepreclation Profit on dlsposal Sundry costs 13,39) 79.688 27 11,185 1,296 29,862 112,170 9.514 972 40,177 112,4S6 11,152 2.Q73 Tot?15UPPOrt costs 1,470,517 148,478 1,618.995 1.2AS,113 Totsl •Mp•ndl¢we 2,031,829 159,330 2,191,159 1,878,902 Included wlthin accountinc¥ fees above are amouttts dut ttr Ihe auditors In relation 10 Ihe Z024 •udlt and aeeounts ol £11,01312023.. £9,171) and amoun15 due In relatlon to other Se￿￿re$ of £17212023.. É3431. 24 KINGS CROSS CHURCN Icompany limlted byguardntee and not havln8 share capRaS1 NOTESTOTHE ACCOUNTS FOA THE YEAR eNOED al DECEMBER 2024 7 ANALYSISOF GRANTS Durln8the yearthe group mode the fdlowin88rants of £l.OCQor mure to or88nlsatSons: 10 1023 Ilrycrws thurth ChrlstlansA8èlns1 Pobtrty Cholce5 Islln8ton Crux CDwersatlllns Gr￿1￿8 trlope IJM 5,4fKJ 15,orA) 2,2ry) 15.032 1,2DJ 3,360 4,2D) 1.2LhJ i.IDJ 5.832 1,3CpJ 16.480 11,3 1,2C UVUK london Clty MIS￿0￿ Open Do￿$ Powerthe Flihr Sovl Actlon Swth Tearfund Treeof Llfe XLP YMCA Friends Df the Hoty land St S)vltsurs 1,2C#) 2.457 1,8QO 1,200 2,880 2,275 2,275 IIX Cowork1￿ Lid Hjckney 1118ht Sh¢ltew Iillryton Glvln8 ARK for Gc4Jd i.sii 3,297 1,701 25 KINGS CROSS CHURCH (Company Ilrnlted by guarantee and not ha￿n& Sha￿ capltall NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEM8ER 2024 8 NET INCOME FAOMTRADING A￿1vITI£s0F SU8SIOIARIES The charity t￿nS 100% ol th¢ lswed ordlniry $hore Co￿tal of KXC Facilitles Itd, • ￿rnpanY Sncorporèted In England and Wales. The compary donètes profbtsto the ptrwnt th4tlty. KXC Facllltles Ltd prep•res StsactDUhts each yearto 31 Derernber for filln8 wlth the Registrar of Companies. r(s t￿panY re8lstratlon number Is 09791527. The resultsuf the company befare ¢on5011dation for the year ended 31 December 2014 re sumrnèrtsed aslollows.. 2024 2011 Turnover Admlni#fotlon ex$￿se$ Distr*b￿l0￿ to Kift8'5 Crosschurch TJxJtlon Nei wofftl Ilossl 119.006 121,5791 198.7231 39,575 17,1891 119,9661 496 2,420 The ¢h•rity also ICQ% olth•155ugd ordlniry ihire caprtal of KX Coworklni Ltd. • ¢omwny In¢orpv*ed In En8hDd and Wales. KX Coworkln8 Ltd, prepir¢s tts a¢¢ouffls e•¢h yea¢ to JI Docem￿r for fllln8 wlth the R￿l$trar of Comp•nle$. tts mpany re8lstfitlon number 15 09957K13. The rq5uIts of company before con501h1•tlC￿ for the yÈar ehded 31 D?cembei 2024 art symmlrlsed •$ follow$'. 2014 Turno¥ 41mlnlstr•tlw txpons T4xatl¢n et profit 216.805 1238,0881 251,670 1222,5961 29,074 ARK KX Coworklni Ltd •lso own5 100% of the Issued ordln•ry sh•rt ¢•plt•l of ARK Coworklw Ltd, a company InCO￿Onted In en8l•nd gnd Wales. ARK C￿￿1￿8 Ltd. prepJrE5 rts •c(ount5 each year to 31 December for flllng ￿th the Re8lrtr•r of Companies. Iti (￿paNy re8￿l￿t[Un number15 10352104. The compgrry has rern41ned dormont 51nee InwLYatlon. KINGS CROSS CHURCH Icompany limited by8uaraTrtee and not havlnB share capltall NOTES TO THE ACCOUNTS FOR THE YEAR ENDED JI DECEMBER 2024 9 TANG18LE FIXEO ISSETS Land ind L*•*hold bulldln88 ImpiovEmerbts Furnlture and flttln86 Ch•r Ewlpmert Tot•1 COST At bEiinnln8ofyear Addltlons OispDsals Ar end of year 827,368 1,113,975 62,550 124,952 6.440 55,331 2,121.626 68,990 12,26BI 1,188.348 827,968 1,176,S25 129,123 55,342 DEPRECIATION At be8lnnln8ofyear Chorge for thE year On dlspDsals Al end ofyea¥ 16,211 8,Ic 117,921 66.125 66,685 29,051 19,344 8,794 230,161 112,170 11.6741 340,657 24.311 194,146 94.11$2 28,138 NET800KVALUE Al end of year At bE8lnnln8of year 803,057 811,157 982.379 986,054 35,C61 58.267 27,194 35,987 1,847,691 1,891.465 i•nd4nd lusehold bulldlny Impro¥emen Furnltui• •nd fftilny Group fqulpmffit Totsl COST At b?8lnnlD8ofyear Addition5 015pcsbli A¢ end of yEai 827.168 I,Z52,544 b2,55U 131,489 ,44U 101,500 2.312,901 b¥,YYU 14,8681 2.377.023 12.6011 98.900 827.368 1.315.094 135.661 DEPRECIATION At beglnnln8of year Charie forthe year On d￿spO5￿15 At end of yEaf 16.211 8,100 174,Jll 89,320 70,363 30,Y2 33,761 17.644 12,6(KJl 48.805 294.446 146.fJ)6 14,2741 436.178 24,311 163.431 99,631 NET 6ODK VALUE At end oFytar At be8lfinlnBofyear 803,057 811,157 1.051.663 1,078.433 36.030 61,126 50.095 67,739 1,940.845 2,018,455 27 KINGS CROSS CHURCH (Company Ilmlted by 8L4arantee and not having share cap6tall NOTES TO THE ACCOUNTS FOR TrIE YEAR ENDED 31 DECEMBER 2024 10 INVESTMENTS Gro Chavhv 2024 10 1023 2011 Investment in subsithory underroklnos Historiccost at end tsf veal 11 DE8TOAS Group 1024 Ch•rlty 2014 2023 Trade debiors Prepayments Amounts due from 5ubsldliry undert4kitTr45 Glft rECOVErable Other debtors JB,759 34,926 13.401 27,182 29,182 2,021 25,167 55,333 111.703 21,461 20,281 64.089 48.623 154,454 25.167 SS,732 154,584 64,089 48.665 153,337 12 CREDITORS.. gmounts f•lllnB due oneyeir Gr￿P 2024 Chivlty 1014 2023 2015 Tradt trtdltors Taxation other sucial 5ecurtty ¢osts cru•ls and deferred Sn£ome Other credltors nk lo•ns Othpr loan5 3,39J 17.6q6 55,155 20,460 9,197 83.138 188,986 6,709 11,180 34,350 40,519 13,952 75.885 182,595 3,209 6,673 31,583 18,734 9,197 83,138 145,B61 23,531 26,104 13,952 75,885 146,145 13 CREDITORS.. arnounts falllni due In more than oneye•r Group 2014 C￿rtty 2024 202> 1023 Bank103ns Other loons 389,255 409,142 798,397 401,995 492,606 894,601 389,25S 409.142 798.397 401,995 492,606 894,601 The bank Io•n is SEturpd on the leasehold property concerned, plus8 de￿nture0Ver Kl•8sCwss Churth. The oiher loans are secured ot)the freehuld property concemed. Amounts falllni due for p3yrnent after more than ftwe years.. Gvoup 10 Ch*rfty 2014 1023 201> 83nk loans Other loans 344.767 340,351 25a,oc 590.351 344,767 340.351 250,QXX) 590,351 344,767 344,767 28 KINGS CROSS CHURCH Icompany Ilmlted by guarantee and not having share capital) NOTES TOTHE ACCOUNTS FOR THE YEAR ENDED 31 OECEMBER 1024 14 RESTRICTED FUNDS Fuhds blh¥d Fum yd In¢•me E¥p•n¢ltur¢ Tr•MIEII TENT 8uildin8fund He50urce Chuich Fundln8 KXC Ventur25 Children ané Youth Cloudesely Bulldln8Fund Mlsslonal ktlvity Well City TOTAL RESTRICTED FUNDS 4,218 3,665 4,891 12,475 17,5841 111,1521 Is(KJi 147,7651 118,2761 135.1691 10.994 17,2LXJ 42,079 158 16,7 44,Jl4 So,￿0 32,CKO 52.700 42,618 113,7241 17,531 14.287 io,oJo 3,5661 74,491 189.793 1159.3301 101,388 TENT TENT wo5 a ch•rltable shared workspace lor freelanre wurkers. endlng In 2015. Donailon5 recelved were used to hEIp fvnd the workspace, and ar*y surplus CQMlnues to be used to fund communi1yenBa￿rnent Jrtivities or 8l¥pn as 8r•nts t external proj2cLs wlth charitable objeOrt church plantkn8 OPPOrtunltlos. Curnt• HOL Th¢¢uT41e hoyse fvnd represenisihe net book valueofihe ¢urnte hw*less •ny •Mo¢l•ted I￿n$. ry's Hous• The Klni'5 House lease provide5 for KXC to retaln the¥alue of any tenants Improvements. The deslwmted fvnd 5how5 the net book¥olue of these lrnprovemenis les% any assoclated loans. Giowth Fwd The irowth fund15 umd to d15tlnoulsh Money held bKk fw futuie key strateilc declslons. Any 5pendln8 from the Fund Is ttd bythe Trusttt 8oird. KX C•r• The Kxcare Fund e￿$t$ to meet the flnanclfrl and praetlcal needs ol those In our communlty alfetied by the ￿d-19 pAndemlc. Applleatlons are m•na8ed bya commlttee and Irants ty￿¢81￿11re less than Éi,r¥)J per awBrd. St Frnndi Th15 fund ue&t¢dlor4 po55*Jlenew¢hurth plani ITr Cardlff, 16 MALYSIS OF GROUP P4ET*SSETS OETWEEN FUNDS Tot•1 1024 1014 fun& TBn*ble fixed a5s•ts Debtori 8•nk and ush Credltors duewlthln one year Credltor5 due In mNe thon oTre￿ar 1,940.84S 154,5B4 586,133 IIBB,9861 179B,3971 1,694,179 I.YO,845 154.584 687,521 1188,9B61 1798,3971 1,795,567 101,388 101.388 202Y UM•strlcted fvnd¥ R•Jtrlrt•d lund5 Totsl 1013 TanÉlNe fixed as5et5 Debiors Jnk and cash Crodltors duewlthln one year Qeditors due In m¢¥ethèn one year 2,018,455 153,337 727,517 1182,5951 1894,6011 l.B22,113 018.455 153.337 802,008 1182.59SI 1894,601 1,896,604 74,491 74,491 31 KINGS CROSS CHURCH ICDmpany Ilmlted by 8uarantee afid not havlng Share capltall NOTES TOTHE ACCWNTS FOR THE YEAR ENDED 31 DEceM8ER 2024 I? COMPARATIVE CONSDLIOATED STATEMFNT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEM8ER 2023 iknr¢strl¢¢ed ndA Autrfrted To￿l￿nth lunds 2023 INCOME Donatlonsind lew 1.507,819 71,IlZ 39,575 251,670 72.798 1,580,617 71,112 39,575 251,670 9,667 37,473 KXC Facllities Ltd lerternèl Income KX Coworkln8 Ltd lextevnal incomel Investment incomè 9,667 37,473 Other Income TOTAL INCOME 1,917.316 72,798 1,990,114 PENDITURE CharltablE artlvltles 1,740,366 138,536 I.878,￿2 TOTAL EXPENDITUAE 1,740,366 138,596 1,878,902 14ET INCOME FOR THEYEAR BEFORE TRAF45FERS 176,950 165,7381 111,212 TRANSFERS 8ETWEEN FUNDS 12,296 112,2961 NET INCOME FOR ThE YEAH 189,246 178,0341 IIL,212 TOTAL FUND BALANCES BAOUGHT FORWARO 1.632.867 152,S25 1,785,392 TOTAL FUPID BALANCE5 CARRIEO FOAWARD 1.822,113 74,491 1,896.604 32 KINGS CROSS CHURCH (Company Ilmlted byguarantee and not havlng share capiiall NOTES TOTHE ACCOUNTS FOR THE YEAR ENDED 31 DECEPA8ER 2024 18 COMPARATIVE FUNDS NOTE FOR YEAR ENDED 31 OECEM8EA 2023 RE5TAICTED FUNDS Funds blh¥d Funds ¥d come Expendture Tr•Mfer5 TENT Buildingfund Re50urce Church FundlnR KXC Ventures 4.218 4.218 10,522 110,5211 28,899 17.50D 3,14 117.gJ51 130DI 112,8541 10.994 17,2TrJ Kxcare Chlldren and Youth COVID-19 fund Cloudesely Bulldln8 Fund Mlsslonal Aciivlty St Gre8ory's TOTAL AesTftICTED FUNDS 22¢ 9,494 42.079 1,106 80 112,CbJOI 652 12,CQO 56 17081 197,6621 1138,5361 97,662 152,525 72,798 112,2961 74,491 UNftESTRICTEOFU140S Funth bllwd Fund5 IrKOrne Expendlture Tr•NI• MSsslonsde51waiEd fvnd Church Planiini Curate house Kln8'& House Growth Fund Total desS￿ated funds 48,271 2,2Bg 137,(KlS 681,751 309,CpJO L,L78,316 419 1SZ,3111 114,704 15,LlX) 1&305 72,844 111,083 17,189 145,210 667,563 309.txo L,Z50,145 18,liX)I 187,032 419 1147,4431 218.853 39,575 25l,670 1,625,652 1,916,897 17,1891 1222,5%> 11,363,138) 11,592,923> 119,%61 1.867 165,355 404,746 571,968 KX Coworkin8 Lid General fvnd$ Total 8Ener•l fvnds 136.281 318.823 454,551 1176.5911 1206,SS71 TOTAL UNRESTRicreo FUNDS 1,632.867 1,917,316 11.740,3661 12.296 1,822.113 33 KINGS CROSS CHURCH Icompany Ilmrted by Kuaranlee and not hJvln8 share upitall . NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 IY RELATEO PARTYTKANS*£nONS Durkn8 the yearm Mitton. Trustee, Involted the challty i totsl of £1.20012023.' £1,59)I hrttalnln8£EnAces P￿ded. Durlng the year one relative of a Trustee wa& qrnployed by the thèrty and pald remynerotion torolllnB £24,36912023.. £28,892 tD one rekntlvel. ￿$0 durfni the year two relatlve5 of Trust*S V4ere pald £1.02312023.. £975 to two relatlvesl fors¢rvl¢es prowded. Durfn8 the year E15KWI2023.. £5.rKKIi wls pald to ch￿teS Isllr4t¢yi, •n•fflliJted charhyof S Guthrle, tru$tEe. Th• Same charlty pald ￿n85 Cr¢)ssChurch £450 lor premlse5 hlre duvkn8theyear. In tyddilion the charfty Is MakI￿sPICe •wllabl• at belw-market riles to Cholces l$un￿on. an afflllatqd charlty 015 Guthrf•. tlilSte•. Ourlnethe the ye•r, Killy Cros5Churth charged 51 8a511'¥ Oe¥on £1,40) lor l+nance s•￿te5 prO￿ded12023.. £4.2tIII. Theyalso char8ed £103 of reirnbursed expenses tost 8asll's. OevaTr12023.. É311. DurSngthe yeaf KlnB's Cross Church made paymentsof £674to St 8a5il's. Oevon. payln8a