Works of Grace Annual Report and Accounts - Year Ending December 31[st] 2024
Introduction:
Works of Grace is a UK-based charity organization that aims to advance the Christian faith worldwide, for the benefit of the public by providing financial assistance to fund places of worship, raise awareness and understanding of religious beliefs and carrying out religious devotional acts, missionary and outreach work based on the Christian faith. Also to support the prevention or relief of poverty. The following report presents the financial statements for the year ended December 31[st] 2024 to provide an overview of the charity's financial performance and position during this period.
Statement of Financial Activities:
The Statement of Financial Activities summarizes the income and expenditure of Works of Grace for the year ended 2024. The figures presented below are in GBP (£).
| 2024 | 2023 | |
|---|---|---|
| Income | ||
| Donations and Grants | £3,980.61 | £2,540.50 |
| Fundraising Events | £0.00 | £0.00 |
| Investment Income | £0.00 | £0.00 |
| Other Income | £0.00 | £0.00 |
| Total Income | £3,980.61 | £2,540.50 |
| Expenditure | ||
| Charitable Activities | £4,762.38 | £1,485.44 |
| Governance Costs | £0.00 | £0.00 |
| Fundraising Costs | £0.00 | £0.00 |
| Bank Charges | £99.08 | £0.00 |
| Total Expenditure | £4,861.46 | £1,485.44 |
| Net Income/(Loss) | (£880.85) | £1,055.06 |
Statement of Financial Position:
The Statement of Financial Position provides an overview of Works of Grace's assets, liabilities, and net assets as of December 31[st] , 2024. The figures presented below are in GBP (£).
| 2024 | 2023 | |
|---|---|---|
| Assets | ||
| Cash and Cash Equivalents | £174.21 | £1,055.06 |
| Investments | £0.00 | £0.00 |
| Property, Plant, and Equipment | £0.00 | £0.00 |
| Other Assets | £0.00 | £0.00 |
| Total Assets | £174.21 | £1,055.06 |
| Liabilities | ||
| Accounts Payable | £0.00 | £0.00 |
| Grants Payable | £0.00 | £0.00 |
| Other Liabilities | £0.00 | £0.00 |
| Total Liabilities | £0.00 | £0.00 |
| Net Assets | £174.21 | £1,055.06 |
Conclusion:
As at the end of the financial year ending 2023, Works of Grace had successfully launched its operations and commenced its charitable activities, including raising initial funds to support its objectives. In 2024, Works of Grace continued to grow its impact and focused on extending support to organizations aligned with its mission.
During the year, Works of Grace awarded grants totalling £4,762.38, including £1,500 to Vie Abondante and £2,512.38 to Reaching Unreached Nations International (RUN). Vie Abondante operates in the Republic of Niger, while RUN is a US nonprofit with work in Niger and other regions. Both organisations were selected for their commitment to advancing the educational and spiritual development of underprivileged children and fostering Christian values, aligning with Works of Grace’s core aims. In addition, Works of Grace granted £750 to CAPRO UK, a missionary organisation, to support its efforts to deepen Christian values in the UK and globally.
We remain deeply grateful to all our supporters whose unwavering contributions—both moral and financial—have been instrumental in enabling Works of Grace to sustain its charitable activities. We look forward to the coming year with optimism and a continued commitment to creating meaningful opportunities and a better future for those in need.
On behalf of Works of Grace, we extend our heartfelt thanks to everyone involved in our journey.
Olasoji Agboola Trustee and Head of Charity 27/10/2025