## QUEST ACADEMY Charity Number: 1205054 Trustees’ Annual Report for the year ended 31 December 2024 ## 1. Introduction The Trustees of Quest Academy are pleased to present their annual report and financial summary for the year ended 31 December 2024. Quest Academy was officially registered as a charity on 4 October 2023 to advance Christian education and leadership development across cultures, particularly among Arabic and Persianspeaking communities in the UK and Europe. We exist to equip and empower believers to serve the Kingdom of God, to strengthen the Church through discipleship and leadership formation, and to share the message of Christ across nations. As Ephesians 4:12 reminds us, our goal is “to equip the saints for the work of ministry, for building up the body of Christ.” ## 2. Our Aims and Objectives Quest Academy’s charitable purpose is to advance Christian education and training by: - Developing and delivering accredited programs that build theological understanding and ministry skills. - Equipping emerging leaders from local and diaspora communities to serve effectively in their cultural contexts. - Supporting churches in Europe through leadership training, discipleship programs, and mission partnerships. Three main principles guide our activities: 1. Empowerment: Building capacity among local and national workers to lead their own ministries. 2. Equipping: Providing resources and training in discipleship, apologetics, and leadership. 3. Engagement: Partnering with local churches and mission agencies to reach unreached peoples, especially Muslim-background communities. ## 3. Activities and Achievements (2024) The year 2024 has been a season of steady growth, spiritual fruit, and renewed vision. ## Farsi Department Led by Mehrdad, the Farsi Department continued its outreach and discipleship work among Iranian and Persian-speaking believers. Over the past year: - More than 135 people enrolled in our online discipleship courses, with 112 active learners participating regularly. - A six-month discipleship program was launched to strengthen new believers and equip them to disciple others. - Plans were developed for a mobile-based learning initiative to reach believers inside Iran safely. - Partnerships were explored with ministries such as Word of Life to translate and adapt existing Farsi Christian resources. ## Arabic Department The Arabic team continued to serve churches and communities across Europe, training leaders in evangelism and theology. Key developments included: - Expansion of online training programs in discipleship and apologetics. - Delivery of Building Bridges and Mission Certificates, equipping Arabic-speaking leaders for ministry among Muslims. - Collaboration with local churches in Ireland, Germany, and France to build stronger mission partnerships. ## Leadership Development Under the vision of Quest Academy, we continued to train leaders for ministry through our Leadership and Discipleship Tracks, combining theological learning with practical mentorship. These programs were instrumental in developing indigenous leaders in diaspora churches, facilitating intercultural collaboration, and hosting online and in-person workshops on servant leadership and church planting strategies. ## Outreach and Mission Led by Michael and supported by our volunteer teams, Quest Academy’s mission department continued to focus on empowering local churches for evangelism. We have seen new partnerships emerging with national workers who organise their own outreach events and a growing interest in contextual mission training among young leaders. ## 4. Public Benefit Statement The Trustees confirm that, in carrying out the Academy’s aims and activities, they have had due regard to the Charity Commission’s guidance on public benefit. Quest Academy provides Christian education and leadership training accessible to all, regardless of nationality or background. Many of our programs are offered free of charge or at reduced cost, especially to churches and individuals with limited resources. Our educational programs and outreach efforts directly benefit the public by: - Promoting moral and spiritual development rooted in Christian values. - Equipping individuals to serve their communities effectively. - Contributing to the unity and well-being of churches across Europe. ## 5. Structure, Governance and Management Quest Academy is governed by a Board of Trustees that oversees its vision, strategy, and accountability. The day-to-day ministry and training programs are led by volunteer staff and self-employed instructors. Trustees serving in 2024: - Marcus Baeder – Chair - Peter Samir Ayad Andirawes – Trustee - Matthew Steven Paschal – Trustee - Stephen Paul Smith – Trustee The Academy operates through ministry departments (Arabic, Farsi, Leadership Training, and Outreach), coordinated under the oversight of the Trustees. All program leaders report quarterly to the Board, ensuring transparency, accountability, and alignment with our charitable objectives. ## 6. Financial Review (Full audited financial statements will be attached separately.) Quest Academy’s income in 2024 was derived primarily from: - Donations and partnership support from churches and individuals. - Voluntary contributions and project grants. Funds were used to support: - Training and discipleship programs in Arabic and Farsi. - Digital infrastructure for online learning. - Outreach and partnership development across Europe. The Trustees are committed to sound financial stewardship. All income is applied to charitable purposes, and any surplus is reinvested in the development of our educational programs and mission work. ## 7. Plans for the Future (2025) Looking ahead, Quest Academy seeks to: - Launch a new European Discipleship Network connecting churches engaged in cross-cultural mission. - Expand our mobile learning platforms to reach learners in restricted countries. - Develop curricula for second-tier leadership training among diaspora churches. - Strengthen partnerships with European and Middle Eastern mission organizations. Through all these initiatives, we remain committed to building bridges across cultures and empowering leaders to make disciples who make disciples. ## 8. Statement of Trustees’ Responsibilities The Trustees are responsible for ensuring that: - The charity’s activities are carried out in accordance with its governing document and the law. - Proper accounting records are kept. - Financial statements give a true and fair view of the charity’s affairs. ## 9. Closing Reflection As we look back on 2024, we give thanks to God for His faithfulness. Despite challenges and limited resources, the mission of Quest Academy continues to grow through the dedication of our volunteers, the generosity of partners, and the grace of our Lord Jesus Christ. “Not to us, O Lord, not to us, but to Your name give glory.” — Psalm 115:1 Approved by the Board of Trustees on 31 October 2025 and signed on its behalf by: Marcus Baeder Chair of Trustees Quest Academy Charity Number: 1205054 **12:26 PM 02/03/25 Accrual Basis** **Quest Academy Profit & Loss** ## **January through December 2024** ||**Income**
**4 REVENUE**
**41 OPERAIONAL INCOME**
**4101 Organizations donation**
**4102 Personal donations**
**Total 41 OPERAIONAL INCOME**
**Total 4 REVENUE**
**Total Income**|**Jan - Dec 24**|| |---|---|---|---| |||$246 135
$75 232|| |||$321 366|| |||$321 366|| |||$321 366|| ||**Gross Profit**|$321 366|| ||**Expense**
**5 EXPENSES**
**501 OPERATIONAL EXPENSE**
**50101 SALARIES**
**501011 BASIC SALARIES**
**501012 FREE LANCERS**
**501013 Givings**
**Total 50101 SALARIES**
**50102 Courses Production**
**5010203 Courses recording**
**5010204 curriculum development**
**5010208 Outreach materials**
**Total 50102 Courses Production**
**50103 Rent**
**5010301 Facilities Rent**
**Total 50103 Rent**
**50105 Travel**
**5010501 Air tickets**
**5010502 Accomodation**
**5010503 Visa**
**5010504 Car rental & Transporta**
**Total 50105 Travel**
**50106 Supplies**
**5010601 IT & Technical supplies**
**5010602 Stationary**
**5010603 Other supplies**
**Total 50106 Supplies**
**50107 Relief**
**Total 501 OPERATIONAL EXPENSE**
**502 GENERAL & Admin**
**50201 TELEPHONES**
**50202 HOSPETALITY**
**50205 TRANSPORTATION**|$160 800
$12 025
$6 688|| |||$179 514
$2 099
$141
$386|| |||$2 626
$314|| |||$314
$33 215
$35 192
$3 001
$12 048|| |||$83 456
$8 248
$4
$82|| |||$8 334
$6 539|| |||$280 783
$168
$1 594
$1 542|| **Page 1 of 7** **12:26 PM 02/03/25 Accrual Basis** **Quest Academy Profit & Loss** ## **January through December 2024** ||||| |---|---|---|---| ||**50206 Legal fees**
**50209 Bank Charges**
**50213 Board memebers events**
**50216 ICETE**
**50217 Insurance**
**50218 Currency rate difference**
**50219 Subscribtions**
**Total 502 GENERAL & Admin**
**504 Marketing**
**50402 partnerships Conferences**
**50403 Social Media ads**
**50405 Printing (flyers,banners)**
**Total 504 Marketing**
**505 Dep. Expense**
**Total 5 EXPENSES**|**Jan - Dec 24**|| |||$276
$375
$452
$373
$227
($553)
$482|| |||$4 935
$4 275
$470
$1 275|| |||$6 020|| |||$18|| |||$291 756|| ||**Total Expense**|$291 756|| ||**Net Income**|**$29 611**|| ||||| **Page 2 of 7** **12:28 PM 02/03/25 Accrual Basis** **Quest Academy Balance Sheet** ## **As of December 31, 2024** ||**ASSETS**
**Current Assets**
**Checking/Savings**
**111 CASH ON HAND**
**11103 Michael Biskales**
**11104 Mehrdad**
**Total 111 CASH ON HAND**
**112 CASH ON BANK**
**11201 NatWest GBP**
**11202 NatWest Euro**
**11203 NatWest USD**
**11204 UWM Bank**
**Total 112 CASH ON BANK**
**Total Checking/Savings**
**Accounts Receivable**
**113 ACCOUNT RECIEVABLES**
**11302 Eyssa**
**Total 113 ACCOUNT RECIEVABLES**
**Total Accounts Receivable**
**Total Current Assets**
**Fixed Assets**
**116 ASSETS**
**11601 FIXED ASSETS**
**11601001 Laptop & Printers**
**Total 11601 FIXED ASSETS**
**11602 Accumulated DEP.**
**11602001 Laptop & Printers**
**Total 116 ASSETS**
**Total Fixed Assets**|**Dec 31, 24**|| |---|---|---|---| |||143 45
1 026 00|| |||1 169 45
20 203 63
2 485 01
17 636 81
56 779 68|| |||97 105 13|| |||98 274 58
639 33|| |||639 33|| |||639 33|| |||98 913 91
864 92|| |||864 92|| ||||| |||-18 02|| |||846 90|| |||846 90|| ||**TOTAL ASSETS**|**99 760 81**|| ||**LIABILITIES & EQUITY**
**Liabilities**
**Current Liabilities**
**Accounts Payable**
**211 ACCOUNT PAYABLES**
**21102 Salaries Payable**
**21103 Other Payables**
**Total 211 ACCOUNT PAYABLES**
**Total Accounts Payable**
**Other Current Liabilities**
**212 UNEARNED REVENUE**
**21202 Unearned donations**|16 150 00
4 000 00|| |||20 150 00|| |||20 150 00
50 000 00|| **Page 3 of 7** **As of December 31, 2024** |**12:28 PM**
**02/03/25**
**Accrual Basis**
**Quest Academy**
**Balance Sheet**
**As of December 31, 20**
**Dec 31, 24**
**Total 212 UNEARNED REVENUE**
50 000 00
**Total Other Current Liabilities**
50 000 00
**Total Current Liabilities**
70 150 00
**Total Liabilities**
70 150 00
**Equity**
**Net Income**
29 610 81
**Total Equity**
29 610 81
**TOTAL LIABILITIES & EQUITY**
**99 760 81**|**12:28 PM**
**02/03/25**
**Accrual Basis**
**Quest Academy**
**Balance Sheet**
**As of December 31, 20**
**Dec 31, 24**
**Total 212 UNEARNED REVENUE**
50 000 00
**Total Other Current Liabilities**
50 000 00
**Total Current Liabilities**
70 150 00
**Total Liabilities**
70 150 00
**Equity**
**Net Income**
29 610 81
**Total Equity**
29 610 81
**TOTAL LIABILITIES & EQUITY**
**99 760 81**|**12:28 PM**
**02/03/25**
**Accrual Basis**
**Quest Academy**
**Balance Sheet**
**As of December 31, 20**
**Dec 31, 24**
**Total 212 UNEARNED REVENUE**
50 000 00
**Total Other Current Liabilities**
50 000 00
**Total Current Liabilities**
70 150 00
**Total Liabilities**
70 150 00
**Equity**
**Net Income**
29 610 81
**Total Equity**
29 610 81
**TOTAL LIABILITIES & EQUITY**
**99 760 81**| |---|---|---| ||**Total 212 UNEARNED REVENUE**
**Total Other Current Liabilities**
**Total Current Liabilities**
**Total Liabilities**
**Equity**
**Net Income**
**Total Equity**|**Dec 31, 24**| |||50 000 00| |||50 000 00| |||70 150 00| |||70 150 00
29 610 81| |||29 610 81| ||**TOTAL LIABILITIES & EQUITY**|**99 760 81**| |||| 0 00 **Page 4 of 7** ||#|Name|Disc.|Amount|| |---|---|---|---|---|---| ||1|Issa|Loan to be repaid|639 33|| ||||||| ||Salaries Payable|Salaries Payable|Salaries Payable|Salaries Payable|| |---|---|---|---|---|---| ||#|Name|Disc.|Amount|| ||1|Peter Samir|Part of Sep.,Oct,Nov & December|$9 600|| ||2|Sarah Obed|Part of December|$50|| ||3|Michael Biskales|Halfyear|$6 500|| ||Total|||$16 150|| ||||||| ||||||| ||||||| ||Other Payable||||| ||#|Name|Disc.|Amount|| ||1|Mina Samir|8 months of IT contract|$4 000|| ||Total|||$4 000|| ||||||| ||Unearned donations|Unearned donations|Unearned donations|Unearned donations|| |---|---|---|---|---|---| ||#|Name|Project Code|Amount|| ||1|Stichtingcare 4you|Code401 : Farsi academic Dep.|$15 000|| ||2|Stichtingcare 4you|Code402 : Farsi offline cohorts|$35 000|| ||Total|||$50 000|| ||||||| Quest Academy Balance Sheet AS OF 31 OF December 2024 Emad Yousse Iskander Co. Firm Auditors and Consulting and Tax Experts Quest Academy Audit Report for the period from l January 2024 to 31 December 2024 Prepared by Emad Youssef Islonder Auditors and Tax Experts Accountants & Auditors T¢l.. 25258381- 25259068- 25264561- 25286854 17 Osman Tow¢T- 1st floor- Cornich El Maadi- Cain)- Egypt Mob.. 01222249338 0 01287425302 E-mail: emad.eyifirni@gmail.com Emad Yousse Iskander Co. Firm Audito￿ and Consulting and T&x Experts INDEPENDENT AUDITOR'S REPORT To: Quest Academy. Opiiiion We have meticulously audited Quest:s Academy financial report regarding the agreement which had a total expense of $291,756, leaving no stone untumed in our examination. Basis for Opinion We have conducted our audit by Intemational Standards on Auditing {ISA), applying ISA 8001805. Our responsibility according to these standards is further described in the section "Auditor's responsibility for the audit of the financial reporv, in our report. We are independent about Think & Do according to the professional, ethical requirements relevant for the audit of the financial report and have othe￿iSe fulfilled our experienced, ethical responsibilities with these requirements. We believe the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Emph#sis of Matter- Basis ofAecounting and restrictions on use + The financial report has been prepared for Quest Academy to fulfill the requirements imposed by international standards. Our opinion concerning this mattel has not been modified. + We noted that the net income is $29,611. + There is an unearned revenue of S SOK, which was designated to the Farsi department in 2025. + Quest Academy must have a financial policy that includes who. how, and how much any title OWF)er should spend or approve payments. We asked the linancial manager, who told us that he is preparing a policy and will share it with the board by next April. + We couldn't get a bank statement for the UWM account to make a bank reconciliation because this bank is not owned by Quest Academy. Therefore, we su bank to pay any expenses. Instead, send all the money to Quest's o est not using this icial banks and use the funds available to pay your expenses. + We noticed that Facebook does not provide official receipts for ads paid throughout the year, only bank statements and transfers show the amount. It would be preferable to have all Facebook ads receipts in your books. + During our audit, we found a payment of $3131.12 to pastor Nagy Mouris with no official Irivoices, only an email from the General Manager with a breakdown Excel sheet. It's preferable to attach these invoices to the expenses. Accountants & Auditors Tel.. 25258381- 25259068 - 25264561- 25286854 17 Osinan Tow¢T- 1st flwr- Cornich El Maadi- Cairo- Egypt Mob-. 01222249338 @ 01287425302 E-mail.. emad.eyifirni@gmail.com Emad Yousse Iskander Co. Firm Auditors and Consulting and Tax Experts Respoiisibilities of Pi'oject Management and Those Charged with Governance (Management) for the Finiincial Ilepurtifftig Projeci Managyevneiit is responsible for preparing ihe fiiiancial report according lo the ?bO￿.ernentlOned acreement and for financial control iliai Manageineiii deeins iiecessary, t() ¥'nsurL tlIL. financial report is tree fi-om inatei'ial misslalements. ￿,hether duL" to t.raud or ci-ri)r. In PYLparing tl)L finaiicial report. Project Maiiagement is responsiblL for taking iiito 6ILLouiiI MLIAiagemeiil'S Assesimenl of ihe Organization's ability to continue as a going conceni. disLlosiiig. as applic<1blc. matters rLlating to the going cnncerii basis of accounting unle$4 ManugLillLnt L'iilIL'I' intLnds t() li4uidatL tlIL. Orgaiiization or LeasL opLrdtions or has iio rL(Ili%tiL &IILLfiiItli￿ e bill to do so. Mic nagenienl is respoiisible for siipeTr ising ihe oroanization's financial reporting processes. Audl¢or's responsibilities for ihe audit of the fjnanelal report (.)ur ()bjiLlives are io c)biain rea501iable assiirance about wheiher ihe fill￿]c3<91 rLPOrt is li'ee Ir()ni Iniilerial niisiakes diie to ITaud or e￿or and lo issue an audiloi s report tli411 inilLid¢.¥ our opinioii. Reasonic blL &5surance is a liigpli level of assui-ance. bul IhLre is iio g11411'aniee Iliat alidil condiicted by ISAS will alivavs detect a niaLerial niisslatenient when il exists. Misstatements can arise from fraud or error and are considei-Ld niateriJl if, individu16 Ily or in the agg)r¢&iale. Iliey COLild reasonably be expected to infllience ihe LionomiL decisions of iisers ba>ed on ihis financial i'ewrl. i)I111 ()I' an aLidit bj ISAS. we exerci5¢ professional judgnient aiid niaintaiii professioiidl skL'iiticisni tliroiighout tlie audit. We are also: Ideiiiily and assess the risks of inal¢rial misstatement of ihe financial reporL, whether due to fraud or error, design ￿)d perforni audit procedures responsivL lo Lhose risks, 1< lid obtain audit evidence Ihat is sul'ficiejit and approprial¢ lo forni a basis foi- oiir opiiiion. ThL risk of not detLLling material mistake resuliiiig froin I"'raud is hig¥lier ilian lie resiiliino Irom error. as fraiid IrÈa>' iiivolN'e collusioii. lorgerv: inlenlioiial oniissions, Inisrepr¢%¢iil¢ltions, or the override of inl¢rnal control. Obtain 41n iii)dLr411< iidingi ()r inleriial Lontrol rele￿a11t to thL audit tn design audit pr()LcdurLS tliat ai'L appropriatL in thc circunistdnccs. but not lo L'xpress an opiiiioli 011 thL el'lectii'eiiess of the Oi-ganization's internal coiilrol. A¢¢ountants & Auditors T¢l.. 25258381- 25259068- 25264561- 25286854 17 05man Tower- 1st fi¢)or- Cornich El Maadi - Cairo- Egypt Mob.. 01222249338 É) 01287425302 E-mail: emad.eyifirni@gtnail.com Emad Yousse Iskander Co. Firm Auditors and Consulting and Tax Experts CoJiL.lude on the appropriateness of Project Manageinei)t's use ()f the going conctrn basis ()f-