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2025-11-30-accounts

ANNUAL REPORT AND FINANCIAL STATEMENTS JANUA 2025 Association ema Ics In ucation (formerly known as The Mathematical Association) Charity Number: 1117838 Company Number: 05729264 or MATHEMATICAL ASSOCIATION Supporting mathematics in education

Trustees, report Chair and CEO'S welcome Reference and administralive details Highlights of 2025 Objectives, activities and public benefit Achievements and Performance Financial review Policy on reserves Financial risks Governance - recruitment and appointment of trustees Statement of responsibilities Independent Examiner's Report Statement of Financial Activilies Balance Sheet Notes to the Financial Statements

CHAIR & CEO'S WELCOME It is with great pleasure that we present the 2025, and final, Annual Report for The Mathematical Association (MA). This has been a year of significant change, achievement and development for the Association, reflecting our unwavering commitment to supporting mathematics education at all levels. Our accomplishments over the past year highlighted the MA'S dedication lo our members and the wider mathematics community. From delivering a successful annual conference and hosting a number of well-attended CPD webinars, launching new initiatives such as the SEND Equals Maths November month long online event, and expanding our social media presence, the MA has continued to grow and evolve. We would like lo extend our heartfelt thanks lo our board members for their leadership and commitment over the last year, as well as to all past board members and presidents of the MA over the last 154 years. A special thank you must also go to the many volunteers whose contributions underpin so much of what the MA has achieved each year, including organising events, delivering professional development, producing high-qualily journals and publications, running malhemalics challenges for schools, and supporting our various outreach initiatives. This year has also seen significant progress in our work exploring the merger of the MA with the ATM, AMET, NANAMIC, and NAMA. Since the member vote in April 2025 to allow the MA to merge, we have been refining the structure and offerings of the new association - Association for Mathematics in Education IAMiEI- We are grateful to the many people who have paved the way over the years, from each of the five associations, to get us lo the point where we could take the final slep to merge as of 1°, De￿mber 2025. We remain committed to supporting all those involved in and interested in mathematics education and finding new and innovative ways through AMIE to enhance our community. As we look ahead as AMIE, we are excited for the future of the sector, particularly in the light of the greater reach and capacity that the merger offers LJS. A** Chair Dr Andy Kemp Sandi Atkinson Chief Executive Officer

REFERENCE AND ADMINISTRATIVE DETAILS Senior Management Team.. Sandi Atkinson, Chief Executive Officer Company Secretary: William P Richardson Registered Office: Charnwood Building, Holywell Park, Loughborough University Science and Enterprise Park, Leicestershire, LE113AQ Independent Examiner: Eva Stevens, employee of Communily Accounting Plus, Units 1 & 2 North West, 41 Talbot Slreet, Nottingham, NG15GL Bank: Natwest, 1 Granby Street. Leicester. LE16EJ Trustees The trustees and officers serving during the year and since the year end are as follows.. Peter Bailey (appointed 15 April 20251 Stella A Dudzic Prof Paul Glaister Sudeep Gokarakonda Lucinda J Hamill Professor Sarah Hart {appointed 15 April 2025) Dr Andrew D Kemp David J Miles Dr Amanda Moon Sara Louise Pennington Dr Christopher B Pritchard William P Richardson Stephen Shackleton (appointed 15 April 20251 Jemma C Shemood Chadie Stripp Jill Trinder Manina Tyler-mort Prof Nira C Chamberlain (resigned 15 April 2025) Dr Paul J Harris (resigned 15 April 2025} Joanne E Morgan (resigned 13 September 2025) Cherri D Moseley (resigned 15 April 20251 Chadotte L Hawthorne (resigned 5 March 2025)

HIGHLIGHTS OF 2025 DDtI 96,896 2,204 pupils took part in our primary challenge schools participated in our primary challenges 1,245 395 books sold ebooks sold new books published 40,041 social media followers 12 webinars hosted with 321 attendees 000 in-person conlerence held 214 del egates attended the annual conference month long SEND event

OBJECTIVES, ACTIVITIES AND PUBLIC BENEFIT The objectives of the Associalion are to effect improvements in the teaching and learning of mathematics and its applications and to provide means of communication among students and teachers of mathematics and other interested persons. Objectives, strategies and activities lo publish periodicals and other items., to provide and maintain a library: to provide professional development opportunities through annual conferences and other events., to provide and facilitate delivery of mathematics challenges in primary schools- to do all other lawful things as are necessary for the achievement of the objects. Public benefit We respond on behalf of th8 membership to government and executive agencies to proposals for change, with a view to increasing the likelihood of the decisions reached and policies inslituled being consistent with good learning and teaching in mathematics. We routinely contribute to the Joint Mathematical Council (which represents the whole mathematics community),. the Advisory Committee on Mathematics Education IACMEI, which is an independent body concerned with all aspects of mathematics in education and the Meetings of the Mathematical Subject Associations IMMSA), which represents the classroom facing associations.

ACHIEVEMENTS AND PERFORMANCE In 2025 the MA achieved the following for its members and the wider mathematics community: Delivered a successful annual conference jointly with the other classroom facing associations, allracting over 200 delegates across the three days in person. Reached over 96,500 primary pupils through their participation in the Primary Malhemalics Challenge {PMCI and the First Mathematics Challenge IFMCI- Delivered a successful and well-attended programme of professional development webinars, including supporting those teaching pupils with special educational needs ISENDI Hosted a 'SEND November, month long online event Journals and magazines published: Three editions of The Malhemalical Gazette (The MA'S general interest malhemalical joumall Three editions of Mathematical Angles (The MA'S membership magazine. which also includes SYMmelryPlus and Mathematical PIE) Three editions of Primary Mathematics (aimed at teachers working in primary schools) Five editions of Mathematics in School (aimed at teachers working in secondary schools) Three online editions of Equals Maths la valuable resource for those working lo ensure that pupils with Special Educational Needs benefit from malhematicsl Issues more than five years old of both The Mathematical Gazette and Mathematics in School are available online through JSTOR. An online newsletter, eNews, is circulated monthly lo share with mernbers and subscribers any recent news and events.

FINANCIAL REVIEW These financial slalemenls cover the 11 month period from 1st January 2025 10 30th November 2025. This shortened reporting period reflects the transition on 1 st De￿rnber 2025, when the Association changed ils name to AMIE following the merger with the ATM, AMET, NANAMIC, and NAMA. Al the lime of approving the financial stalemenls. the Iruslees have a reasonable expectation that the Association, in its expanded form, has adequate resources lo continue in operational existence for the foreseeable future. Thus, the trustees continue lo adopt the going concem basis of accounting. Throughout the 2025 accounting period, Members of Council maintained a rigorous policy toward the management of resources, ensuring a stable financial foundation for the integration of the merging entities. Throughout 2025 in response lo the financial situation of recent years the following actions were taken and remain in place: 1. Undertook full financial and operational due diligence in preparation for merger the ensure the sustainable future of a new association. 2. Preparation of monthly management accounts by an external accountant which are reviewed and presented lo Trustees at their quarterly meetings. 3. Began investigating options for longer term investment of the proceeds of the 2023 property sale with the aim that the returns cover the costs associated with the leased 4.Conlinued review of all provision of services contracts and moves to new suppliers where savings can be made. 5.Conlinued development of the activities of the Marf(eling and Communications Officer lo deliver successful campaigns generating increased income from across all areas of the association. Vve are confident that we have the right prO￿dureS in place and will continue to make informed decisions that will ensure the long-lerm financial sustainability of the new merged Association. POLICY ON RESERVES It is the policy of the Association lo maintain sufficient general funds to cover m8nagemenl, administration and support costs and to enable it to respond to any further approved projects which may arise from time lo time. The reserves of the Association are held in the various funds as detailed in the Financial Statements in note 15. The Association's reserves policy and the level of reserves within each fund are reviewed each year having regard to the Charity Commission publication CC19, 'Charilies and Reserves,, and a forecast of income and expenditure is prepared for the following year. Council considers that the balance of general reserve, after deducting Fixed Assets and Branch Reserves, should aim lo be equivalent to between three and six months of expenditure. As al 30 November 2025 this amount was £603,692 131 December 2024= £623,477) which represents 1&17 months 131 December 2024.. 18-19 months). The Association mel with an investment manager to begin the process of moving some funds out of general reserves into longer-tetm investments.

FINANCIAL RISKS Council has examined the major strategi¢, business and operational risks which the Charity faces and through regular reports to the Council meetings, and dialogue between the Treasurer and Chief Executive Officer, confirms that systems are estsblished lo lessen these risks. Council has a risk management strategy comprising.. an annual review of the risks the Charity may face., the eslablishmenl of systems and procedures lo mitigate any risks., and the implementation of procedures designed to minimise any potential impact on the Charity, should any risks materialise. Additionally, integration risks associated with the merger were miligaled principally by engaging a specialist charity consultancy to guide us through the transition. FUTURE PLANS AMIE'S mission is to foster lifelong skills, promote collaboration and make mathematics accessible, relevant, and engaging for all. The unified Association should be more sustainable than the pre-merger organisations and offer greater value and impact. Growing membership is a key objective. Building engagement through Member Interest Communities. Seeking new partnerships to broaden existing income streams like the Mathematics Challenges and professional development initiatives. Internally, the key deliverable will be the launch of a new website and the implemenlalion of a new customer relationship management (CRMI system. This will lead to deeper engagement with our members, efficiency savings and greater opportunities lo scale. GOVERNANCE: RECRUITMENT AND APPOINTMENT OF TRUSTEES The elected members of Council are ils trustees who monitor the business of the Association. There are three Officers, the Chair, Treasurer and Honorary Secretary, each elected annually and hold office for no more than five years in succession. There is a President, President Designate and Immediate Past President. who each hold office for a period of one year,. there are eight Chairs of Committees who are elected annually and may serve one temi of five years and up to seven Members without Office who may serve two terms of three years. The members of the Association elect all members of Council al the Annual General Meeting, with the exception of the President who is elected by Council. The Company Secretary, if not otherwise a Member of Council. is in attendance al meetings of Courbcil. All members, via the October issue of Malhemalical Angles, are advised of any retiring Iruslees and invited to nominate trustees by notifying the Honorary Secretary by 31st December each year. The notice for the AGM is published in the February issue of Mathematical Angles. Currently, the AGM is held dLJring the Annual Conference and this lakes place around Easter. Council is mindful of the benefits of it having representatives from primary. secondary, further and higher edU￿tion.

STATEMENT OF RESPONSIBILITIES The trustees (who are also the directors of Association for Mathematics in Education, (formerly known as The Malhemalical Associalionl, for the purposes of company lawl are responsible for preparing the trustees, report and the financial slalements in acwrdance with applicable law and United Kingdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting Practice}, including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies. Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees musl not approve the financial statements unless they are satisfied that they give a true and fair view of the slate of affairs of the charitable company and of the incoming resources and application of resources, including ils income and expenditure, of the charitable company for that period. In preparing these financial slatemenls, the Iruslees are required lo.. select suitable accounting policies and apply them consistently., observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent- stale whether applicable accounting standards, comprising FRS 102 have been followed, subject lo any material departures disclosed atbd explained in the financial stalemenls", and prepare the financial statements on the going concem basis unless il is inappropriate lo presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy al any time the financial position of the charitable company and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in olherjurisdi¢lions. Small Companies provision statement This report has been prepared in accordance with the small companies, regim8 under th8 Companies Act 2006. The annual report was approved by the trustees of the charity on 1 April 2026 and signed on its behalf by.. Dr Andrew D Kemp Trustee 10

INDEPENDENT EXAMINER'S REPORT Independent Examiner's Report to the trustees of Association for Mathematics in Education formerly known as The Mathematical Association ('the Company.) I report to the charity Iruslees on my examination of the accounts of the company for the year ended 30 November 2025. Responsibilities and basis of report As the charity's trustees of the Company land also ils directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act'l- Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 I'lhe 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515){bl of the 2011 Act. Independent examiner's statement sin￿ the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confim that l am qualified to undertake the examination because l am a member and Fellow of the Association of Charity Independent Examiners, which is one of the listed bodies. I have completed my examination. I confim that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act- or 2. the accounts do not accord with those records,. or 3.the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair. view which is not a matter considered as part of an independent examination., or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211- I have no concerns and have come across no other matters in connection with the examination lo which allenlion should be drawn in this report in order lo enable a proper understanding of the accoLJnts lo be reached. Eva Stevens, BSC, CPFA, employee of Community Accounting Plus Fellow of the Association of Charity Independent Examiners Units 1 & 2 North Wesl 41 Talbol Street Nottingham NG15GL 0710712026 11

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) R•5tri¢t (uxds ToAI Toill fuDd5 I•¢om 4Dd EDdowmentt from: DouJLon5 iegici ChaJit3ble 3cuiiue" 155.840 343.830 75J44 155,840 3?3.830 25.144 12.762 3j) 38 6.856 Total 40i.014 iOE.014 39?.Q Elp￿di[pr? ChaJigab14 a<tiKitte {4%1.61) (3£t)I (451.97 1399.1)81 Total ew￿ltUre 1451.6?2) 13WI 1451.9721 1399.1)81 et 53.34? 4.0-,0 13WI 14.0701 53.042 T￿[￿fe[. hwd5 57.412 14.3701 53.04? Total fqnd5 brw.hi £Drn'atd 641.:07 6.5(K) 654.835 T4)f￿ fll￿d￿ t￿11&a foTV¥atd 15 698.619 ?(Kl.".49 64:. . Jote 15. The t￿￿. breJkdowA foi the period i. . 12

THESE ARE THE FIGURES FOR THE PREVIOUS ACCOUNTING PERIOD AND ARE INCLUDED FOR COMPARATIVE PURPOSES: Restri¢¢ed fuDds TTrtal flllld5 E￿d￿lF1mP￿tS trtsm: DoJ)arJons and le83￿£$ Cbantable Jettiiises 1?,70? 352.38? 26.856 352.382 ?0.856 Total wcorue 39).000 Chaniable acftiitte5 399.1 ?8 1399.k78} 1399.1?81 Net 17.L?8) Ntt Jllth'emetti Jll fiu 17.1?8) RÉcon<lU%ilon offunds Total fuyds blougbr fonv￿d 64£.335 6.5¢)0 654.835 Toral c3med foN'ard 15 647.707 13

BALANCE SHEET ry0?4 Fityd A?JetS In13nEJble a5AtS TattgLbl assts 18 70.4•0 11.640 4.76 4.761 CurrnDt Stotk DebtLwJ Cisk alb￿ alld illballa io 13.36? 36.394 663.-13 84.932 609.857 701.101 713.469 CTedttrors'..4uwuDts f•UiNFdiJe wiTb¥• fne F¢4r 12 (88.4121 160.34?) -Nei ¢urrelli a%3ets 618.689 653.127 Toil a%set5 le¥% turmi liabilitiE% 7ty).749 657 8$9 ij 110.181 -,(￿).749 Fwxds of th• th￿1￿.. Reifrict•d iEcomo Re5tJiC￿a fiu 15 6.500 Lllrt%tri¢thd iD¢•me thJ•& L2LtSJIet￿ 098.619 TotAI fry4d8 15 -,00.".49 For the financial period ending 30 November 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities.. The members have not required the charity to obtain an audit of its accounts for the period in question in accordance with section 476., and The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These financial statements have been prepared in aceordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The financial statements on pages 12- 28 were approved by the trustees, and authorised for issue on 1 April 2026 and signed on their beha￿ by.. Sudeep Gokarakonda Trustee 14

BALANCE SHEET A8SO¢igtion for MatheM9t1￿ In FAIur4tlon fonntrly l(nown s The Nqathtm#tl¢al Assoclatlon Stqtement of C.a5h FtOW5 for the Per1￿1 from l January 2025 to 30 Noember 2025 30 Novem￿r 2025 31 Dectmber 2024 Cfish lknys from operating ACtiTritits ¢&th incorn&l¢xpendTrtur¢) 53,(H2 17.128) AdjLLStmtnls to fltrw5from non-c#5h items Depreciaiion AmortisBtion Inve4Ment 1.302 592 1•5,344 3.011 (6,856 29.592 (30,9731 Working toplknl #dJu¥tments DeCrea￿￿11￿¢r￿s¢) In $1(xKs Tn¢rea￿ in debtOTS InGreasellLkcrease) in cteditots D¢crease ￿ &lerred io 1.050 148.i381 15661 13,3?71 {10,4541 12 12 13.839 ¢aaJ flo￿ from oper91i￿ a¢tiYttLe$ 9.535 55,517 Cfixh nDWS from >￿tiVitieS InterestreceivaEle simjlar ￿ncome Str¢ha of th18wble fixed d&%ets PutchBse of tangible fLxd assets 2A856 18.180 Nel cath ftows from lniest￿E actii'itiL 153,848) 24,429 Cash Ihjws froTh financir4g #ctivitit5 R¢w)'Thenl of loarLS and tx)rroM'irES 12 19.i431 (10,10) Nei dEcws¢ m cash aNI cosh equival& Cash and cash equivalEnts Èi l Jènusry 153.8561 663,713 {41,1971 7iN,910 Cash and G&sh equjvalents at 30November 663,713 Rteomiliation trf thei ta5h tlow lo ￿0vement fund5 tkerea5i ￿ caJh Cash iynflow frLYn re￿Yment of I(￿ 153,8- 9,543 (41,197) 10,i(y) a]ang¢ ￿ n¢idebtresulting fran cBsh fbws fujth at l j￿ ?025 futs& al 30 November 2025 163.3991 663,713 {51.31J51 704.910 ,314 653,604 All of the ¢&h tIow$ are denv¢d from cJs. Th¢ no*s on page$ 10 to 23 (orni an integral p3nof the8¢ fman¢ial stat￿￿ents. 15

Notes to the Financial Statements for the Period from 1 January 2025 to 30 November 2025 1. ACCOUNTING POLICIES Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial ststemenls are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Statement of complianc8 The financial stslements have been prepared in accordance with A¢¢oLJnling and Reporting by Charities.. Slalement of Recommended Practice lapplicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211 lissued in October 20191 (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Basis of preparation Association lor Mathematics in Education, formerly known as The Mathematical Association, meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise slated in the relevant accounting policy notes. Going concern The financial statements have been prepared on a going concern basis. The trustees assess whether the use of going concern is appropriate i.e. whether there are any material un¢ertsinlies related to events or ¢ondilions that may cast signifi¢anl doubl on the ability of the Charity to continue as a going ¢on¢ern. The trustees make this assessment in resped of a peri(MJ of one year from the dale of approval of the financial slalements. Income and endowments Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlernent to the income, it is probable that the income will be received and the amount ¢an be measured with sufficient reliability. 16

Donations and legacies Donations are recognised when the charity has been notified in writing of both the arllounl and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entided to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fLI￿lIment of those Conditions is wholly within the control of the charity and il is probable that these Conditions will be fulfilled in the reporting period. Legacy gifts are recognised on a case by case basis following the grant of probate when the administratorlexeculor for the eslale has communicated in writing tx)th the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a finanaal asset traded on a recognised stock exchange, re￿nitIOn is subject to the value of the gift being reliably measurable with a degree of reasonable a¢cura¢y and the title to the asset having been transferred lo the charity. Deferred income Deferred incorne represents arllounls received for future periods and is released to incoming resources in the period for which, it has been recewed. Such income is only deferred when.. The donor specifies that the grant or donation must only be used in future accounting periods,. or The donor has imposed ¢ondV(ions which musl be mel before the charty has unconditional enlillement. Expenditure All expenditure is recognised once there is a legal or constructwe otiligation lo that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be diredy attributed to particular headings they have been allocated on a basis consistent with the use of resour￿$, with central stsff costs allocated on the basis of lime spent, and depreciation Charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of stsff costs. Charitablg activities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indire¢t nature ne¢essary lo support them. Taxation The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation lax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such inwme or gains are applied exclusively to charitable purposes. 17

Intangible assets Intsngible assets are stated in the Balance Sheet al cost less accurllulated amortisalion and impairment. They are amortised on a straight line basis over their estimated useful lives. Stock Sto¢k is valued al the lower of ¢osl and estimated selling pri￿ less costs lo Complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the firsl-in, firsl-out IFIFOI. Tangible fixed assets Individual fixed assets costing £500.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accLJmulated impairment losses. Heritsge assets The rules of the Association slate thal'lhe Library of the Association may not be disposed of, in whole or parl, without the express permission of the Council,. The Council have confirmed that il is not their intention to dispose of any ty)oks or periodicals in the Library in the foreseeable future. The Council considers this class of fixed assets to be heritage assets and note 12 contains a brief summary of the nature and scale of the assets in accordan￿ with SORP IFRS 1021 Section 18. The Library has not been included in the balance sheet because, in the opinion of the Council, the ¢osl of regular professional valuation of these assets lo include 8 value in the accounts cannot be obtained al a cost commensurate with the benefit lo the users of the accounts and to the Charity. Amortisation Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows.. Asset class Computer software Amortisation method and rata 100/0 straight line Depreciation Depreciation is provided on tangible fixed assets so as lo write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows.. Asset class Computer equipment Office equipment Depreciation method and rat• 20°/D slraighl line 100/0 slraighl line 18

Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amorlised cost using the effective interest method, less provision for impairment. A provision lor the impairment of trade debtors is estsblished when there is objective evidence that the charity will not ￿ able lo ¢ollect all amounts due according to the original terms of the receivables. Cash and cash equivalonts Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of ¢hange in value. Trade creditors Trade creditors are obligations lo pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the repDrting date. If there is an Ljnconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non- rrenl liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amorlised cost using the effective interest method. Borrowings Interest-bearing borrowings are initially recorded al fair value, net of transacty'on ¢osls. Interest- bearing borrowings are subsequently carried al amortised cost, with the differen￿ between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effectwe interest method and is included in interest payable and similar charges. Borrowings are classrfied as Current liabilities unless the charity has an unconditional right to defer settlement of the liability ft)r al least twelve months after the reporting dale. Fund structure Unrestricted income funds are general funds that are available for use al the trustees. discretion in furtherance of the objectives of the charity. Restricted income funds are those grants for use in a particular area or for specifi¢ purposes, the use of which is ￿$tricted to that area or purpose. Pen$ions •nd other post retirement oblig8tions The charity operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the charity. Pension costs charges in the Statement of Financial Activities represent the contributions payable by the charity during the year. 19

  1. INCOME FROM DONATIONS AND LEGACIES T0141 TD*al DoLitsoJJs aud hgaeies. 1.224 141.732 6.884 J,327 147 r3? Gth &id rec]aullod 6.884 7,435 ljS.840
  2. INCOME FROM CHARITABLE ACTIVITIES Dnstsicted fuDd8 GeThtTJI Toil 2024 Toial 2024 92.387 50,398 1 ?1.•56 ]8.7?3 ios,100 59.0>9 114.8:5 29,394 50,)98 141.?56 18.72) Pub)￿l[LO11% An￿￿.8] CClLtsence 0,598 8,1",0 6,$9È B.17Q Posty¥t Orber iDCC•ue B￿3￿Chin(0￿ 9.158 199 J97 1.413 1.989 387 1,58• 387 1,582 3?3.S30 j5? j87

  3. INVESTMENT INCOME I ￿eStrict¢￿ d5 Gtaèrl Total 2024 Jllrestr•EeTh'*ble Sim￿r]u(0D￿,. lllth[estTrCei￿ble olll)Jllk dep)4ts 15.341 26.850 20

  4. EXPENDITURE ON CHARITABLE ACTIVITIES IireEtri¢red fwid8 C•￿r#I Re5trittod fuLd5 18,061 7,949 7.6?5 9,676 9.676 c￿Ee- Brkndké5 488 360 788 360 ?7.869 1.302 14.085 .457 36.975 C￿ference &xpell5e5 Ediioriii Depreu3tiD]I Fa¢Ltstie: & bJ31dm¥ ￿￿1￿1t￿a￿eQ ,30! 14,085 1,457 36,975 3.011 6.104 rr & website •0.690 500 13) 20.674 66) .Iein• expell'￿￿ Lègal & profÈ::iOJJAI fèes atti'est BBL ]Ltere5t Phlc XPthbaS iniixg. POPJtage & statsorw. ofdSLoJJal dK"olopm￿t PubUcatsom PToduetsvJJ & 5tttk tes & utsjittos TTa]lu￿ & 5tsff costs Salatios. Xl & penskon Sbb-tt4)tiott: SurL&%'ew5 2,34? 52.765 339 35 339 35 22,563 610 3.169 3.58) 16? 387 1,050 69 23.ry69 3.582 ?4.370 2.960 165 ?66 956 16?.38Y 1.050 09 1.706 Ro)'alu?• pay?ble VAT paitiai •X￿￿ptrOtt aaJ￿t￿￿llt 166 8.085 14.845 592 14.845 592 451.672 3[ 451.9-.

  5. NET INCOMINGIOUTGOING RESOURCES lllt￿l0utE0ttteI ie$owc￿ for the pen0dujt1￿.. 2Q24 2024 DepFe¢satton of fixed assets ATnonLUttOn of iATallgible fixed assds 3.011 i9: 21

  6. STAFF COSTS The agwe8aie pa)Yoll costs were as follows.. siaff toits durthE the wrlod ei'é'. agts irto Sa]￿e$ Socjal Sec￿1> Costs P•isionco4s 150.01? 6.611 5.104 151.69• 8.397 i.177 The moAd)ly aiyrage J)umber of Iwclthg senwf malla8eILieiit aml etygioved by the chaTrrv durwg th¢ puJpdv4'i5 as foll¢)Th'g. 31 DetwbY . Airfa¥C gf cmplo)ee5 6 {?Q94. 01 of the aboi't enwI￿r¢S parnttp3¢cd ￿ tht D¢fuKd c0tsthbu1￿n Peosion S¢1￿m¢S. Collmbvtion5 10 tht ¢xnplovet penswn schemes for tht ptnod toialted£>.161 {20?4- £5.177). No emplo)￿ receiNYd trooluD￿rS of llW>re tb3th £6D.fK)O tbe penod. Th¢ toi¥l ¢wloye¢ b¢n¢fiis of ¥hr k¢y pefsoanel of the ¢hatstyivet¢ f 56.176 (?0?4. *5S.??31,

  7. TANGIBLE FIXED ASSETS Offitt CompDteT •quipm•ut Totsl C081 At I lanuary. jQ25 AddLtsC& !3.454 3.)32 4.648 8.180 At 30 Noi'embkt ?0)5 5.916 6.986 31,90? DprtiAti* Ai I53lluary. lQ25 Cknge for th• v• ]79 J16 19.781 1.186 19,960 1.30• At 30N0i.￿1￿1 025 9) Ar 3oNoi'ew￿T 1025 6.019 11.640 AI 31 DEremlxT 7024 l.C89 3.6-,3 4_-6! 22

  8. HERITAGE ASSETS The Charity's collection of books and periodicals, which are not capitalised and included in these finanaal slalemenls, are located in the University of Leicester's David Wilson Library and the Association's Headquarters. The Charity s library is covered by the same insurance arrangements as the UnNersily's own library and the Charity's own insurance. The Library of the Association of Mathematics in Education, formerly known as The Mathematical Association, comprises around 12,000 books and 5,500 runs of periodicals from many different countries. The collection covers mathematics, ils teaching, history and popularisalion, and is particularly rich in ils coverage of school and university mathematics textbooks of the nineteenth and Iwentielh centuries. The collection also includes around 850 older or rarer items going back lo the sixteenth century. The Library as a whole is a unique primary source for the history of the mathematics curriculum in the United Kingdom. Valuations {for insurance purposes) of the library's conlenls.. September 1999 Special Collection Open Stack books Charles Altwood wlleclion John Hersee collection John Hersee manuscripts £178,940 £110,030 £18,460 £97,650 £62,000 March 2004 June 2005 March 2001 the Wittgenstein Archwe, which is on loan to Trinity College Library, Cambridge. was valued al £57,500. The above books, periodicals and manuscripts have not been included in the balance sheet because, in the opinion of the Council, the cost of regular professional valuation of these assets to include a value in the accounts outweighs the benefits to the users of the financial statements. 23

  9. STOCK 04 Stock3

  10. DEBTORS •0•4 T￿de debto <64 5.01? 30.818 -9S8 25.117 19.f52 Othei dEbtOiS 84.93? 36.394

  11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR •o:g 0•4 IokQS 11.479 47.005 5.084 1.339 8.", 85 14.-70 10,790 4,386 5.866 1,080 9,611 0￿[ CTdilor. -4c¢nul,. 8S.412 60.341 24

  12. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR 702 2024 10.Is? A BouJi¢e Back. Lonji of £IO.000 iiTrs oiii li) JwJ¢ 200. Repa￿llenT of i]Le loaj) sianed itt Jaiiiiwy •0• Toial hnioiwl tepayable 15 ££3.909.40.

  13. OBLIGATIONS UNDER LEASES AND HIRE PURCHASE CONTRACTS Opei'nli￿8 ItA5t ¢otymltinptstS Totsl fun]r¢ niJnii)Iw) leas¢ ￿Yn}¢￿t9 linder twtx-cwKellable opeiaiithg l¢a9es are as follows., 2024 ?024 Ajjd bulldlll8S ithiTh oJ]e ￿tal Bel￿¢¢1) on¢ aud flir yefiis 39.46) 2024 Olbti. Il'ithin ojje veal Beni'eeD oue aud ffi-e years 600 6(K) 7fj0 1..450 25

  14. FUNDS Baknnr t30 Résotsrc 202.- rces TrttsléYs 202) 010.94? .908 504,027 387 1451:IB4) (4S) 068.455 1:,807 BTallds F￿lld i05,014 14>E.6V) 4.070 098,019 Rt51ri(ed fmads I"orfAsbJre BTeTKb 5trrc&55 (3r•)) 14.0701 2,130 Totxl fw15 505.014 ￿_ Tbé swifjc plltyose b)r I"oyksbttÈ BraxdL fjll￿d should be whÈd malbeD￿l￿s Tbé rtallsftr frow the I"otk5birt thé 11ea4tt￿[Ér$ Ojttd 5bows £osr5 PMY<4LS ys vJJc¥L vere Doi &trttcTed froNthp ￿ThrEed faDd. B¥lprÈ ¥t 31 Decejnber 2024 JnuD' 2024 R¢50#rc•% exwded rtsoMrcs 39I.803 l97 <397 864) 6JQ.94? 17968 Briuds 14,035 fA83i5 397.( 99:1 Rtstri(tsd I"01k￿lt BtaLtb ￿￿51r£￿￿%t5 6.5fr) Tot41 fuds 654.8i5 {399.1?81 4". -.07 26

  15. ANALYSIS OF NET ASSETS BETWEEN FUNDS ILrtstti¢id 30 oi-eiLbèr 7024 T¢tJl fMud5 ltsttspble assets TttÈLbL fLwJ xsstts Cwéttra55È15 ?Q.4?Q 13.640 7fy1.Q-. I S8.4:: 7Q420 11.040 ".o-..ioJ 88.412 CuTfoDtbabtht Totyl M 8Sset¥ 093.079 ?130 I".nrstri(t 31 Dtttmbor ?024 Totsl lllllds fuod asset5 CuTfoDtiSS5 CutreDtbabthttos -,06.P09 1fj0.34=1 io.i&? 713.469 1fy).34? CTrthEofi oi.er I To￿1 tttr isstts O.>(k)

  16. FEES PAYABLE TO INDEPENDENT EXAMINER Dlltlllq the Wlod. the fees pa)YbJo {e¥ch￿l￿&T N'AD to cbm" s in&peD&or LUWiDet ColllD￿rn. A<couJnttg Plus ad as b)IJ0￿". l JaAILirY )0!4 to Ji7 oi'ember 2024 YtaT ndod 31 DKèmbèr 2024 27

  17. INTANGIBLE FIXED ASSETS Compultr sofhtar Toial Cost 71.01? 71.01 At 30 Nxtn)ber 20?5 71.01) Am•i'115allo Chatge ihe )rar 59? $92 .41 30 kn3YJJ)ber 70?5 59? 59? et book ialue At 30 20?5 70.4?0 70.4?0

  18. CHARITY STATUS The charity is a company limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
  19. TAXATION The charity is a registered charity and is therefore exempl from corporation taxation.

  20. RELATED PARTY TRANSACTIONS There were no related party transactions in the period. 28

  21. TRUSTEES REMUNERATION AND EXPENSES During the period the charity made the following transactions with trustees.. William P Richardson William P Richardson received remuneration of £4,091 12024.. £3,985) and £191 12024.. £4321 of expenses were reimbursed to William P Richardson during the period. Remuneration was for production of the journal The Mathematical Gazette. Dr Chrlstopher B Prltchard Dr Christopher B Prilchard received remuneration of £4.953 {2024'. £4,824} and £22912024.. £1711 of expenses were reimbursed to Dr Christopher B Prilchard during the period. Remuneration was for the shared editing of the journal Mathematics in School. Dr Paul J Harris £Nil12024'. £1971 of expenses were reimbursed to Dr Paul J Harris during the period. Lucinda J Hamill £10512024= £Nill of expenses were reimbursed lo Lucinda J Hamill during the period. Jill Trinder £10712024.. £Nill of expenses were reimbursed lo Jill Trinder during the period. David J Miles £371 12024.. £Nill of expenses were reimbursed to David J Miles during the period. Charlle Stripp £23812024.. £Nill of expenses were reimbursed to Charlie Stripp during the period. DrAmanda Moon 210412024.. £Nill of expenses were reimbursed to Dr Amanda Moon during the period. DrAndrew D Kemp £20912024.. £Nill of expenses were reimbursed to Dr Andrew D Kemp during the period. Sud9ep Gokarakonda £6712024.. £Nill of expenses were reimbursed to Sudeep Gokarakonda during the period. Prof Paul Glaistar £16312024: £Nill of expenses were reimbursed lo Prof Paul Glaister during the period. Professor Sarah Hart £7212024.. £Nill of expenses were reimbursed to Professor Sarah Harl during the period. Peter Bailey £4612024.. £Nill of expenses were reimbursed to Peter Bailey during the period. No trustees have re￿iVed any other benefits from the charity during the year. 29