We present an analysis of deep XMM-Newton and Chandra observations of the z=1.05 galaxy cluster XLSSJ022403.9-041328 (hereafter XLSSC 029), detected in the XMM-Newton large scale structure survey. Density and temperature profiles of the X-ray emitting gas were used to perform a hydrostatic mass analysis of the system. This allowed us to measure the total mass and gas fraction in the cluster and define overdensity radii R500 and R2500. The global properties of XLSSC 029 were measured within these radii and compared with those of the local population. The gas mass fraction was found to be consistent with local clusters. The mean metal abundance was 0.18 +0.17 -0.15 Zsol, with the cluster core regions excluded, consistent with the predicted and observed evolution. The properties of XLSSC 029 were then used to investigate the position of the cluster on the M-kT, YX-M, and LX-M scaling relations. In all cases the observed properties of XLSSC 029 agreed well with the simple self-similar evolution of the scaling relations. This is the first test of the evolution of these relations at z > 1 and supports the use of the scaling relations in cosmological studies with distant galaxy clusters.