Hour of Grace Family Chapel International
As a church we propagate the gospel , help the downtrodden and the less privilege in the society
Financial health, per its FY2024 accounts
The accounts state that the charity reported a net deficit of £215 for the year ended 31 December 2024, resulting in total unrestricted funds decreasing to £5,153. The charity's reserve policy is to maintain funds equivalent to three months of unrestricted expenditure, but the current unrestricted funds are below this target given the deficit and low cash balance. The filing notes that the charity is well-positioned to manage costs and has assessed major risks, with no material uncertainties disclosed regarding going concern.
What the accounts disclose
“It is the policy of the charity to maintain unrestricted funds. These are the reserves of the organisation and equivalent to 3 months of unrestricted expenditure.” — page 5
Trustees
- Janet Nyamoah
- SUSANA APPIAH
- VIDA Serebour
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £246k | £246k |
| 31/12/2023 | £122k | £118k |
| 31/12/2022 | £116k | £103k |
| 31/12/2021 | £93k | £125k |
| 31/12/2020 | £48k | £46k |
Common questions
Is Hour of Grace Family Chapel International financially healthy?
Per its FY2024 accounts: The accounts state that the charity reported a net deficit of £215 for the year ended 31 December 2024, resulting in total unrestricted funds decreasing to £5,153. The charity's reserve policy is to maintain funds equivalent to three months of unrestricted expenditure, but the current unrestricted funds are below this target given the deficit and low cash balance. The filing notes that the charity is well-positioned to manage costs and has assessed major risks, with no material uncertainties disclosed regarding going concern. Its FY2024 accounts were independently examined.