2021-08-31-accounts

Registered number.. 07139068 Charity number.. 1135148 Geographical Association ThE GEOGRAPHICAL ASSOCIATION {A Company limited by guaranteel TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 AUGUST 2021 -A4HIKndp* 18111rd021 c￿PANIES H¢JVSE

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THE GEOGIIAPHICALAS%XIATION IA comp•ny limited bVBuara￿ee) CONTENTS Page . Reference and admlnlstrative detsls of the charlty. ItsTntslees and advlseffs Trustees, report 3-14 Independent auditor's rep¢)rt thfin•ntial siatem IS-19 statement of fflnanclal aciiTAtI 20 Balance slÈt 21-22 SLlttmert of ta5h tIow5 23 N￿e$ totthe fina￿￿1 statemen 24-46

GEOGRAPHICALASSOCIATION {A tornpèny Ilmlted byEuarnNtel REFERENCE AND ADMINisfRATIVE DETAILS OF THE CHARITY. trs TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST2021 Trustees Mrs G Miller. SeniorVI￿ president for 2020-21 (resigned 31 August 20211 CY S Pske, preS￿ent for 202￿21 Mr A Parkin50n. Junior Vice President for 202&21 Mr B Digby, Named Trusiee. Honorary Yreasurer Mr R Plews, Named Trustee Iresi8ned 31 Au8USt 20211 Dr P Richard50n. Narned Trustee Mr R Hatrmryid. Named Trustee Mr I Palot. Elected Member Mrs S Holden. Co-option Dr Tjazeel. Co-opiion Miss K Stephenson. Ctroption Mrs L Wes( Co-option Iresi8ned 31 August 20211 Mrs O Llntern-sm￿h, Chair ofTrustees Mr D Covdin& Elerted Member Mr P Brotk. Ctroption {appointed i September 20211 Mr A Owens, Junior )fice President fof 2021-22 (appointed I September 20211 Mrs H Robinson. Elected Member lapwnted l September 20211 Company TEi5tered number 0713S Charity registered number . 1135148 Aeg151ered gffice 160 Solly Str*rt Sheffièld 5148F Senlor leadershlp te Mr A Kinder- Chief Execyti¥e M5 E Anderson- Head of Publishi Mrs R Krtchen- CPD, CurrKulum & Marketttw Mana8er Mr R Gill- 8usiness Mana8er (retired 31 Oecember 20201 Mr A Forsyth- Finance & Operatsons Manager lappolnied l De￿rnber 20201 Indèpendènt audltor BHP LLP 2 Rutland Park Sheffield SIO 2PD Page I

THE GEOGRAPHICAL ASSOCIATION IA company Ilmited by guarantee) REFERENCE AND ADMINISTRAnVE DEfAILS OF THE CHARITY. tTS TRUSTEES AND ADVISERS ICONTINUEDI FOR THE YEAR ENDEO 31 AU6usf2021 Wrigleys Solicitots LLP 3rd Aooi Fountain Precirtl Balm Green Sheffield SI 2JA Page 2

The GEOGRAPfr#CAL ASSOCIATION IA company limited by guarart*è} TRUSTEES, REPORT FOR THE YEAR ENDED31 AUGUST2021 The TruMees present their annual report together with the audited finantial statements of the Getseraphical Association for the year ended 31 August 2021. The trustee5 have adopted the provisrons of the Statement of Aetommended Practite ISORPI -Accounting and Reporting by Charitie5- IFRS 1021 in preparing the annual report and financial siatements of the charity. The financial staternents have been pfepared in accordance with the accounting poliae5 Set out in note5 to the accounts and comply with the chari￿$ governing document. the Charrlies Act 2011 and Accountire and Reporting by Chafities.. Statèment of Recommended Prartice applicable to thar¥ties preparing their attounts in accordance with tht Finantial Reptsrtlr￿ Standard applitablt in tht UK and Re￿icOf Ireland pubYi5htd in October 2019. Since the charity quah.fies as small undef settion 382 of the Compar¥es Aci 2(￿, the Strategic report requlfed of medlum and large companies under ihe Companies Aci 2C(16 Isiratew Report and Directors, Report) Regulations 2013 has been omitted. Oblertl¥es Gnd4Ktfvltle5 Policios and oble¢llves The Geographical AsscThlion IGAI 15 the natio￿1 5Utfjett 3s%xiation for teachers of geography and a registered charity, with a mission to 'further geographical knowledge and understanding through education.. The GA 5UPPOrts geographv education by: leading publit debate on and advocati￿ forgewaphy in Èducation.. publishing member journals. professional tilles Znd website materials for teachers and students- running professional devèlopment events and inntsvative education projects: supporti￿8 teacher networks at national and local stales: broadcasting via a GA podcast and a YouTube channel.. reco8ni5ing the achievements of schools. teacher5 and Students throvgh acueditstion. award5 and competitions. The vision of the GA strategic plan. whith launthed in the year under review. 15 to create a larger. more diverse and better-connected subjert cornrnunity. which inspires geographical te¥hing and learning of the highest quality- The strate8ic alm5 of the plan. through which the Association will pursue its vt5ign. are to 'thance Reography in educaiion and more widelv (by advocating for geography education). to 'ueate a more inclusive and sustainable geo8raphy education comrnuniv (by connecting geoEraphy educators with th￿r Association and Dne another) and to'enable better understanding and appreciation of the world Iby ernwer1r￿ teachers and students with 8eo8raphical knowled8e and Membership of the GA is a powerful expression of colleclwe purpose and identity. as well as a means of providin8 support. GA rnembers indude primary and secondary teachers. trainee teachers, teacher educators, academrcs. undergratluate and postgraduate students, infant. primary and secondary schools, colle8es, universities, libraries. socleties. charities and businesses. The GA currently has members in around 6,4fAI primary schools and 2,300 secondary sthools in the UK. Around 180 universi1￿ provide site wde access io GA joumal conteni lor èll their students. Subscribing rnernber5 receive a fange of benefits. In addition to a iermty magaiine. members substribe to one or more GA journal5- Primary Geography. Teaching Geography and Geography- These are a key rnean5 by which geography educators share their ideas and practice, and they remain prime $ov￿e5 of subject speaalist debate across the gtography education community. Many rnernbers also make use of the GA'S Èxten5i¥e ￿ember-onty website sections and gain discounted actess to GA publications and professional events. Page 3

ThE GEOGRAPHICALASSOCIATION IA<ompany Ilmiied by8u•rantee) TRUSTEES, REPORT ICONnNUED) FOR THE YEAR ENDED 31 AUGUST2021 Objertives and artl¥rtles luntlnued} b. Publlc beneltt The GA'S Trustees have eiven due consideration to Charity commi￿on euidance on the operation of the public benefit requirement. The GA'S charitable object is the advantement of education for the pvblic ￿nefIt by furthering geographical knowledge and understandin& through the promotion of good practice in geographical teaching and learning. It is the GA'5 belief ihat everyone 15 entitled to a geo8raphical education. to value and be respon51ve to the wodd in which we live. Thanks to the support piovided by its members, volunieer5. donor5. sponsws and strategic partners, the GA undertakes a wide ran8e ol public benefit acti￿tIeS= the GA'S social media activities. e newsFetter aThJ podcasi are avallable free of tharge and are Important sources of networking and ideas-sharing for many thousands of teathèrs: rnany ofthe materials on the GA website are open access and rnay be used freety by teachers within educational settings. Durine the yeaf under rewew. the GA also maintained free attess to its online teaching resources and its 'Geo8r3phy Irom Home, wtb51te sett￿N. io svpport sthools and lamilies wlh the challenges Cfeated by the Coronavirus pandemic- the GA'5 Free Primary Membership provides teachers wilh free access to ouality-assufed rtstyjrces, advice and 8vidance on teachin8 geogfaphy in the primary phase- the GA offers low cosi membership options through its GA Magaine On￿ 8rade. as well as through dlscounted memberships for student teachers. newly qualified teachers. unemployed and fetired teathers,. thE GA'5 Initlalives Fund IGAIFI pfovides charitable 8rants to 8eoBraphy educators. creating opportunities thev would not otherwise have to fvrther 8eo8raphi(Jl knowledee and undefsianding through edu￿riOn,. important elements olthe GA Annual Confere￿. suth ès the pu￿1< Lecture, Teathmtei awards Ceremony are free to artend. Student ieachers who subsuibe as membefs gain free access to the tonference, as do con1ril￿torS to the conference programme.. the GA produ￿5 selected publications free of ch¥ee, as its National Researth Reports. These reports are part of the Association's authoritatNe oveNew of aspects of 8eo8raphy education trends and ￿andardS nationallv. Throu8h its positive inl]uence on the teaching of geograFty. the GA exerts a beneficial impart on students in thousands of schools, naiionally and internationally. It also offers support direct￿ to school students: free online leaming matefials, lectures. tutgrials and quiues from the GA'S GeoBraphy Educatign Online IGEOI website are used by many GC5E and A level geography students. to help them pro6ress io the next stage of their learnin8- younger students benefit from taknng part in GA Worldwise aai¥itie5. Worldwise local qu12 rnateria15 are distributed freely and used by around schools each year,. the GA supports rts affiliaied 8ranthes, many of whose artivities are available at no or low tost to teachers and student5 and whose work reathes many thOus￿d5 ofschool students annvalty.. school students also Bain free acce5$ to the Future Geo8rapher5 pro8ramme at GA An￿al Conference. Achle¥ements ondperfonnon a. ADVOCATE. Advance Keo8r•¥ In edu(atlon and ffKYe¥Adelv The GA'S work undtr this strategic aim seek5 to rnobilise the collectivt expertise of geography edutators. in order tg be responsive to contemporary geographical kn￿edge and issues, to genefate new insights and to ensure the case for geography. as articulaied by the GA and lis members, 15 listened to widety and attenb"vefy. One of the GA'S flagship inftiat￿eS in pursur( of thls strategit aim is a fundamental review of curriculum thinking in 8e¢8raphy edutation. Launched in 2021k21. this initiative will take a very wide ran8e of evidence and perspectives into account, in order to produce a view of the geography curriculum that is infomied by research and pradice, and will use Page 4

THE GEOGRAPHICALASSOCIATILIN IA company limlted byguarnntet) TRUSTEES, REPORT ICONnNUEDI FOR THE YEAR ENDED 31 AUGUST202J Achle¥ements and perforniance Icortlnwdl this work to exert influence on national and international currieulum conversats.ons in the future. During the year, a group of GA expert volunteers conducted a research rewe• and created an ini¢val set of documenis. for wider consultatson in 2021-22. Con5ultatlon responses, fomial represeniat￿n5 and partiC4pation in decisio￿rnakIng forums rèmain key aspects of the GA'S work to represent its members in national educatth toiweisations. During 202(￿21, the GA= responded tc+ a Bovernrnent consukation concerning the recommendaiions of a review into the Initial Teacher Education IITEI'markeY. Led by its ITE e4)ert volunteers. the GA gaihered a range of response5 frorn Kr05S the geoeraphyteacher education communrty. It conduded that. if implemented. the retommendations made by the 8overnmenl'S expert group would likety resutt in the wthdrawal of a number of high-quality 5choof and university prowders from ITE provision. exacerbating the eeography teacher supply challerees we already face. The GA therefoie rejetted the main findings in ihe report. txpre55ed its concern at the limit5 to acadernTrc agency contained within it and urged the go¥ernment to takè a different approach to develtsping a critically enBa8ed ofession. whith nurture5 subjeu specialists from the outset: enEaeed with the Department for Education IDfEI and Olqual. the qualtfitation regulator. around plans for examinations in 2022. The GA responded io sevefal tonsuftations. and lodged its serious concerns over the delays to and impact of policy deci￿on5 made by Ofqual and the DfE on students. teacher stress and workload and the status of fiel0￿0¥k within 8eo8raphy qualifitations.. provided independent advice to the HMI for geography. through 0￿ed.$ Geography Worktng Grovp. In relation to Otsted's review of fartor5 that Influen￿ the quality ofgwraphy education in schools in England. the GA was pleased to find that a good deal of the research cited within thi5 report originated from GA journals and authors. In its formal response to the report. the Assoaation noted the pressing need fof more teadber5 and schools to be given access to the subjed-specialist support prowded by organi53tions suth as ihe GA. in order to tackle the issues raised by the inspectorate. 11 also expressed concern at the ambiguitTres wrthin the report around some important Concepts. suth as disciplinary knowledge. Going forwards. the GA wll continue to work towards greater clarity and to treate opporturMties teachefs to undwstand the praclical implications of the research Ofsted chose to hi8hli8ht- subrnitted evidence to assist the publrcation of the Subjects Matter report. bylhe Institute of Physics. This made the case fof 5ubject-5pecific professional development lor te¥hers and hi8hl￿hted the GA'5 Geography Quality Mark IGQMI as an impactful professional development pro￿5 in %hools- attended an international meeting of gtography organi53tbons from sjver 25 countrie5 Wgrldwide, convenèd by the Royal Scott15h Geographical S¢xiety. The meetirg held in June. provKled an opportunity for GA Chief Executive an Kinder and President Susan Pike to di5CUS5 plans for markin8 COP26. due to be held in Gla$8ow this autumn. It was also a forum to discuss distinctive contribution that 8eography and 8eogfaphers w make.. accepted an invitation from the Cabinet Office to join the Geospatial Commission's Skills Forum. The forum brln85 or8anisaiions from different sert¢ys of industry togeihef io identify way5 the UK meht enhante geospatial capabilities. skills and awareness, includin8 through education.. provided Inpui to thè highèr education subjert benchmark review forKeographv.' supported lis Wales Speual Interest Group in its work to consu￿ wf(h teathers and to respond tg the Welsh government proposals for the reform of GCSES. Towards the end of the year under review. the GA a8reed a new strate8ic partnership with the Environment A8ency, to WDrk tO8eiher in support of a shared ambiiion io create a natwl fesilieni to the impacts of climate changè. From next year. the partnership will help ¢rÈatt authoritative m￿en31$ on environmental thartgè teathers and Students and bulld tollaboration5 between 5choo15 and Environment A8eney Staff. to help children and young people understand contemporary enwronmentsl issue5 and how they can be rnanaged. Thi5 work will olso suppon equal opportunitie5 for youn8 people looki￿ for a career in the water an(J environmental sectors. and wim complement the work the GA does with its established stratewc partners= Discover the World Education. the Field Studies Countil and the Ordnance Suryey. Page S

THE GEOGRAPHICALASSOCW4TION {A company limitd byiuarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED31 AU6U5T2021 Athlevements and perfornw￿e I￿ntInued) In relatign to the stalus of geography edU￿10Tr, the GA was delighied that former GA President Mar8aret Agbert5 received an MBE in the New Yearfs honours list. in recognition of her serwces to education and the profound influence her work has had on tea¢hers' practice, indudin8 throu8h her work for the (U. It was equally proud of the increasing number5 of students takin8 geography GCSES and A le¥els. wlw athie¥ements were reco8nised in the 2021 summer exarn results. b. CONNEcf. Create a rn0￿ indusi¥e and su5talTrablestogrdphy education community This strand of the GA'S wtrk aims to Brow GA membershtp and to create a more diverse and better-connected geo8raphy education community, which functions in an environmentalty and finaftcially sustainable wav. An important aspecr of this work was the GA'S 'listening exercise.. whlch ran thrOug1￿￿t 202c￿21. In a￿UM￿ 2020, over 400 members Corn￿eted a detailed suryey. giving detai15 aboui themselves and ihose aspects of GA support they Valued andlor used most and ￿3$t frequently. Durin8 summer 2021, around 50 member and non-member geography educators took part in over 11 hours of 8roup disciissions. to further explore their prc+fessional needs and prioritbes, and to identify ways in which the GA can and should support them in the future. This rich and informatNe exercise was lacilitated by GA volunteers. The Association is committed to ful￿ anatysin8 the data. pU￿lsh1n8 the outcomes and pursuin8 recommendations thai aiise. The exercise also revealed the great value that teachers of geography attath to bein2 mernbefs of ihe GA- a sentirnent rellected In the continued growth in total GA membership, which reached over 9,600 by the end of the year. The Associats¢)n continued to innovale throuehout the year in order to build better connections with and between member5. A number of GA Volunteer eroups and GA local Branches ran online networking events durine 202(￿21.. an approach which enabled them to reach lar8e numbe￿ of teathers and to operate more sustainably and inclusively. Following its successful introduction at GA Annual Conference in April, use was also made of an informal online'droTrin' fowm. for members and Conference ddegates to sociali5e with one another. Online tools for exchanwng Ideas and experlences were atso cleated for schods working towards a GA Geographv Quality Mark and ieachers seeking a GA Professional Passport award. In addrtion to the dassroorn prxtice disseminated tt3rou8h GA journal articles and Annual Conference sessions. newer ideas such as the Members. Mawc SeCt￿)n of the GA'S primary e-updaie were used to share teachers. Idea& Important steps were also tak•) durin8 the ye¥ in respwt gf divefsity and environmental susiainability-. the Presidential theme of Compassionaie Geo8iaphies helped to guide the conteni of ihe Annual Conference proyamme. and led to ihe publication of a number of ma£aine and iournal articles explorfjng themès of SDclal and environrnental injustites.. good progress was athieved to ensure that those speakine at GA CPD events and Annual Corrferentr and those Writi￿ for GA journals and public3tlOn5 represented diverse backgrounds. exptriences. identities and persptctsves. Geography Education Online created a new platfom and audien￿ for diverse tontribution5 and content; GA journals and even15 opened up challen8inB conversation5 around g￿raph￿S historic and contemporary role in respect of social and environmental injustices, indvding racism and cglonialism- the GA provided financial or in-kind support for initiatives and projects promotin8 diversity and plurality. including the VcNces Projett. CarlcUK and the Naturnl Enwronment Research Council's Equity. Diversity and Inclusion Inlliative.. the GA'S Governing eody are èstablishing a Diversrty and Ir￿lusIon Working Group. to further advantè the GA'S Wgrk in these areas,. the listening exercise 8athered data on members. personal character4Stics, professional needs and views.. most GA events and meetings moved online. reduang travel ￿ delegates. trainers, GA staff and volunteers: increasing nurnbers of members were encouraged to choose the digital mernbership offer. artd an incfeasing number of GA publications were rnade available diwtamy. Pa8e 6

THE GEOGRAPMICAIASSOCIATII IA tomp•ny limited bvyarantee) TRUSTEES, REPORT ICONTINUEDI FOR ThE YEAR ENDED 31 AUGusf2021 Athie¥emert5 and perfomian¢e {<ontinupdl c. EMPOWER. Enable b•tter understarrtllr and apprndallon olthe world Th¥s strateBiC aim is concerned with ensuring that GA actrvity irnpart5 on the professional knowSed8e and skils of teachers of 8eo8raphy. benefits youn8 people and in5pire5 them 10 tontinue io learn about the world and the subject. Each year. the GA publtshes around ICQ journal articles by 8eo8raphy edvcators. a nufflber of subjert 5peciali5t titles written by teachers and aca¢Jemics. and a large quantity of online teathing resour￿ and guidance. It work5 Wlth teachers to ensure the mater4a15 published addres5 their needs and thost of their students. Many GA members contribute to this work as authors or as expert reviewers. In addition. the Association accepts around 100 session proposals from geographv educaiors for inclusion in its Annual Conferente programme. and oreanises and supports a huge range of continuing professional developrnent ICPDI events throu8hout the year. CPD eventsi projects and trainin8 pro8rammes have the aim of developing teachers, knowled8e and skills. so thal they feel confident to leach hi8h-quality geography. To th5 end, all GA CPD is designed. planned and led by expert Pfactitionus and meets the 2016 standard for teatheis, professional development. In the year under review. the GA= launched Geography Education Onlk IGEOI for GCSE A level studerts. GEO en8a8es students with subjert materials ihai ¢hallere and inspire them. connerts them wtth 8eo8raphy a¢ademics and academi¢ thinkin& and seeks to develop ihem as young geoÉraphers antl independent thinkers. The site is designed around the prinople that examinaii(ffi success and piogress to further stu¢* rests on wide and deep engagement wrth subject knowled8e and skills-ngt just trainin8 for a lest. GEO has therefore emerged as an irnportani new vehicle for brin8in8 coDiemporary research to school audience5. By the end of ihe school year. 24 lectures, 14 tutorials and 95 learnin8 resources had been added to the site, whith attracted over 130.LNX) views,. provided CPD to over 6.1x￿) teachers in neady 2,(m schooLs. athievire si8nificant growth in the numbers of teachers able to attend GA CPD. as this 15 now offered online as twili8ht sessions as well as full and half day 5essions,' held an onllne Annual Ccnference with nearly 80) delegates and over ICII sessions focused on the Presidential therne of Compassionate geographies. The Public lecture was delivered by Anjana Kwatwa with other notable presenters including Sirnon Reeve. Prof. Chris Jackson. John Curtin and Phil Lymbery. reated professional resource packs for teachers io run in-school CPD with iheir own departments. Popular themes induded progression in primary fieldwork and embedding GIS. The GA'S Primary CPD packs were one of ei8hi shortlisted resour￿ in the 2021 Teach Pr4maryAward5 and wewere deli8hied ihat they were runners up In iheir cate80ry. expanded the number of teachers accessinB a GA Professional Passporr to over 450. The GA Professional Passport and Awards were launched in 2019 to support and recogntse teathers who feflett deeply and critically on the professional developmeni thai ihey undertake. They enable a focus on learniw process and impau rather than slmply'doing CPD,. published new tiiles foi teathers and 51udents= two iitles in the popular AGuide to Fieldwork in... 52rie5-'eristol' and'central London,: two Geography KnowHow trtles wlth accom￿nying web resources- on dirnate change and plastic pollution- Fieldwork Through Enquiry12nd edn.).. updated editions of Meth¢x15 of analysing fieldwork data and Methimls of presènting fieldwork data along with a nèw title- Method5 of collecting fieldwork data- Secondary CPD Packs-'Embedding GIS. and'optimism in geographv and a Primary CPD Pack-'Progression in fieldwork experiences.. launched a partnership wrth Tayknand Francis io help manage and distrthe the Association's IlaEship joumal. Geography. Thi5 afran8ement. whith began in January 2021. 8r¥es sub5criber5 additional member benefit throuBh access to a ran8e of journal title5 published byTaylof and Frantis and discounts on Taylor and Francis publications: Page 7

ThE GEOGRAPHICALASSoaATION IA Company Ilrnlted byluarnntee) TRUSTEES, REPORTICONnNUEDI FOR THE YEAR ENDED 31 AUGUST2021 Athle¥ements and perforniance IMfitin¥edl prixluced new online teathinE ￿OUr￿5 addressing causes, efferts. mitlBa¢ion and adaptation to climate chan8e: a Kuala Lumpur case study- re￿￿r(e5 for lnvest18ati￿ urban 8reen Spa￿ and'ln¥esti8ating chanwn8 places.. Southwold.; broadcast 38 Geo8Pod podcasts on a wide range of topi<s. from Otsted inspertions in 8eography, the impart of COVID on our relaticsnship with home, dimate change as a saf￿￿01d1nB issue io ihe experienw of Caribbean communities in the UK,. supported the creation of ihe Levs Count Census 2021 pacl whith reached 43% of primary schools In Eneland and 51% Wales.. continued its support for the ConnectsTrx aassrooms throu8h Global Learnin8 ICCGLI prograrnrne. This three-year programme. which will come to a dose in December 2021. is funded through the Brilish Council. It supports schools io advance their teachine of global learnrn8 and tlevelopment education, and assists schools with international partnerships. In addition to 5UPPOrtin8 the CO￿ programme throu8hout 2020-21, the GA also provided project trainmg courses via an online platform, so that leathers were able to access CCGL tralninR despite periods of lockdown. d. GA afinual awards The GA annual award5 recognise indi￿d¥al5 who have made siRntficant contributions in furthering the learning and teaching of geography. of the following winner5 were announced al the award5 ceremony al the 2021 econference.. GA Honorary Membership GA Annual Award for E￿Ilence GA Outstanding Service Diploma Paula Ri(hard50n Sharon Witt. Anjana Khatwa Emma John5. Jane Ferretti, Mick Dawson, Simon Oakes, Hafsa Garcia, Rouna ￿1, Tessa Willy. Sus?n Knighl Jen Lom35 GA Certificète Award for Excdlence in Leading Geggraphy Prirnary Geographv Teaching Geography Geography Fran Martin and Fatima Pirbhai-lllith Charlotte Milner Gerry Kearns Page 8

ThE GEOGRAPMICALASSOCIATION IA comyny limited byzuardnt*è) TRUSTEES, REPORT ICONMNUED} FOR THE YEAR ENDED 31 AUGUST2021 Fth•nclfflrt a. Financlal re¥lew The flnancial ststernent5 for the twdve months ended 31 August 20215hows total income of £953,69212020.. ÉI,113.3651 and expenditure of £962,851 12020.. £1,045.3381. resulting in net expenditvre before investment eain5 of £9,15912020.. net income of £68.0271. Net gains on invesiments for the year wefe £305,655 12020: É8,2411. Taking these gains into account the overall net movement in fvnds for the year £296,49612020.- £76,268). Durin8 rhe year under revie￿ the fundinB io support the GA'5 work cgntinued to be derived from four main areas gf activSty- lil membership 5ubscriMions, lill the sale of eilucational resources, liiil Iraining and events and other professional development activities and livl externally fvnded 8eo8raphy education projects. The Trustees iemain conscious of the current erternal financial and educational pressures on sthool geography and the impatt that ihls is having across all four ol the above artNity areas. In response to ihese pressur￿. the Trustee5 and Senior Leadership Team have been activelv en8a8ed over a number of years in a process aimed at develo￿￿8 a financial straie8y for the GA based around a susiainable Model of new inc¢yne 8eneraiion and continued careful expenditure management. In the opinion of the Trust￿, the GA'S dosing balance sheel remains robust, with net current assets of £201,49512020'. £108.3961 and total net assets of £2.311.84812020'. £2.015,3521. of which £14,37012020'. £14.3701 was held as restrScted funds. The above ￿pOrted financial outtum. toeeiher with the above mefttior￿d financial straiegyfor fvture years clearly demonstrates the on 8oing commitment and efforts of the Trusiees and staff iowards achievin8 a fiAancially sustainable future for the or8anisation. Page 9

THE GEOGAAPMICAiASSOCIATION IA (ompany Ilrnlted bv￿ardnteej TRUSTEES, REPORT ICONTINUED} FOR THE YEAR ENDE031 AUGU5f2021 b. Reser¥ts polky Thè princip￿ aim of the GA'S resèrves poliry is to seek to ensure that an apwopriate tsaran￿ is maintained between ensuring a long-term 5UStaiftable financial position for ihe organisation and the deployment of funds towards fulfilling Its tharitable mission of fvrtherin8 geographical knowledge and understandin8 through education. To ensure that there 15 no Slenificant disruption to the GA'S Charitable adNlties. holding appropriate reserves enables the or8anisation to respgnd to any unforeseen redurtion in income andlor unexpecte(l additM)nal expenditure5. The GA currently holds re5er¥es for the followinB specific purposes.. To smooth out ¥olètlliiy and allow short-terffl operati¢)n 105se5 10 be incurred. for example as a result of temporary shortfalls in tncome or unexpected expenditure5 arisin8 from unplanned events. To mitlgate against the particular 5hort- to medium-term challeThaes associated with continuin6 to seek out and seojre new externally funded curriculum development projerts. To support one-off initial investments in conneuion with the provision of new services or activitie5. To facilitate future investment in the maintenance and development of its national headquarter5 building. To insulate useable reserves from adverse fluctuations in its investment portfolio. To ensure affordability ofthe USS Pension Scheme der￿t recovery plan. To allow for other unforeSeea￿e risks and contingencies that may arise frorn timeto time. As noted above. al the balance 5heÈt date the GA'S totsl reser¥es stood at £2.311.848 12020: £2.OIS.3S21. includin8 £14.370 12020.. £14.3701 of restricted funds. Based on the Trustees. evaluation of the above reserve requirements, a target level of free reserves lexdudin8 restricted funds and tar8ible fixed a￿ets) ha5 been set at £1.400.000. The GA'S actual level of free reserves as at 31 August 2021 amounted to £2.018.333.12020.. £1.707.5291. The Yru5tees are cognisant of the current txtèss of free reservès and intend for them to bt to be applied in the furtherance of the GA'S charitable ¢bje¢ts. Notwithstanding the above. the Trustees consider the cuiient level of free re5ve5 to be Teasonable both in the light of the target figurt and in the context of providing sufficient flexibility for the GA'S operational requirement5. However, Moving forwards the GA'S bu5ine5s plans will continue to be set with an intent to maintain free reseffts within a +/- io% ra￿e of the target free reserves figure and the GA'S re5erve5 polic¥ will continue to be subject to annual review by Its Trv5tees. It 15 noted that the increase in re5erve5 in these ￿(￿nIS ha5 been largety drNen by sygnificant unrealised investment growth in the year. Page 10

THE GEOGIIAPHICALASSOCIATION IA tompany 11m1t￿ byÉuardntee) TRUSTEES, REPORT ICONTINUEDI FOR niE YEAR ENDED31 AUGusf2021 At the year end. the GA had I￿al invesbnents of £1,922,93212020.. EI.698,2411, with £1.922.93212020- £1,612A481 of thi5 bein8 heltj in a sin6le mixed-invesiment ponfolK). Since the period end there has been a fall in ihe value of these investments or around É70.CK)O. This hiehlights on8oin8 current m8rket volatility as reported by Investec. Under its Artitles of Association. the Govemin8 BO￿ of the GA has the diSu￿10n 10 invesi in any way the Trustees wish, after having obtained advice from a finanoal expert. The Trustees. havin8 regard to the or8anisation's liquidity requlrements. have operated a polity of keepin8 a proportion of funds available in thè fomi of cash deposlis and maintalning the balance of funds on investment with Investec Wealth & Investment Ltd. to whom the asset management function has been delegated. The investment manaRers work to the GA'S investment policy of maximising overall return5 within an agreed assei allocation that is currently Stnjttu￿d to woduce capital gr0￿h wilhin a medium-risk framework. The investment policy also refflerts the GA'S commitmerf to its ethical policy. wilh regard to environmental and sustainability matters Ilor example, by not Invesiin8 direttly in tompanies primarily invofved with fossil fuelsl. human rights and social responsibdity. The TTUStees review investment perfofmance ai each meeting Df ihe Gtsverning Body ènd rneet with the investmeni manager at least On￿ a year. Perfomiance ts monitored against natlonal and international benchmarks Indices. a. Le8al Mructure The Geographical Assotiation Icompany number 07139C681 wa5 incorporated under the Companies Art 2006 in 2010 as a prwate cornpany lirnited by guarantee. The GA also has charrtable status from the Charity Comrni5slon under regisrration number 1135148. The GA had previously existed a5 an unincorporated associatiijn {registe￿d charity number 313291 slnce Its orlglnal fonnation in 1893. b. Govemln¢ documents The GA'S statutory 8ovemin8 document is the Artrcles of A550ciation of the Geographical Association. In addition, the GA has its own more detailed internal By laws that set ￿t the dassifications of and procedures relatin8 to membership and volunteer Officer posts, Includin8the Gownin8 Bod¥ and Education Group. Both documents are publicly available on the GA website. L Appdntment of Trustees The GA 15 governed by a Board of up to 14 Direuors. They are thè legal Members of the Geographical Association limited tompany and also its Trusttts. This Board is called ihe Governirg Body and the ptswer to appoint mem￿rS of the Governing eody rests with the Governi￿ Body itself. The wider rnembership of the GA rnay, by mean5 gf the electlon procedures sei out in the By Iws. make nominations for mernbership of the Governin8 Body. The By laws also include provision for ihe Go¥ernin8 BoLfy to co opt a nurnber of indpmduals to fdl specialist roles. d. Indurtlon The GA has an appointment and induction policy for Trustees that is subject to periodic rewet¥ by the Governing 8ody. As part of their induction Trustees are provided with a pack that contains generic information on the role and responsI￿.11t1eS of a Tiustee and Oirector, as well as more contextual information regardin8 the current Governing Body and the GA itself. Page 11

ThÉ GEOGRAPHICAiASSOOATION IA fompany limlted bywMr3ntee) TRUSTEES, REPORT IcoKllNUEDI FOR THE YEAR EAIDED 31 AUGUST2021 51rurtUf• w>Vernan￿ and mana¢ment I￿rtInued) e. Orynlsaiion The GA 15 overseen by its Go¥erniTrA Body of Trustees/Dirertors and advised on edU￿tIonal matters by Its Education Group that includes representation from each of the GA'S educational sub groups as detailed below. t￿ring ihe year under review the Governing 8ody was thaired by the Chair of Trustees and Educaiion Group by the p￿ident. The GA has a dedicated body of professbon31 staff, based ?t headquarters in Sheffield, whith runs the day to day operaiion of the Assodation under the leadership of ils Chief Executive. There are also currently 45 affiliated Branches of the GA that are wtdely distrfbuted across Èngland. Wales and Northern Ireland_ Despiie belng a VK-based or8anlsaiion, the GA has members in around 60 countrie5 and stron8 Ilnkswr(h geographical organisations afound the world. The GA aL%o welcomes and Valu￿ the support of its Strategic Partners- Discover the World Education, the Field Studies Council IFSCI, the Ordnance Survey and the Enwronment A8erKy - and the 8uidance provided by its Honorary Vi Presidents, Andy Buck and Professor Peter Jackson. Phase committees Early Years and Primary Phase Committee Secondary Phase Committee Post 16 and Higher Education Phase Committee Teather Education Phase Committee Special interest groups ISIGI Fieldwork and Outdoor Learning Infgrrnation aTrJ Communications TethnploBY Svstainability and Citizenship Independent Schools A$5essment and Examinations Intefnational Physical Geography Wale5 Communication boards Geography Editorial Collertb¥e Teaching Geography Edriorial Board Primary Geography Editorial Board Publications Board Conference 8oard Worldwise eoard Other groups Gecernphy Educaiion Research workrng party l. Rélated partl¢s The GA is an independent charlty that is funded prin0pa1￿ by memberthip svbstripiions. the sale of educational resources and the provision of spetialist geographital servrces lindud1￿ thfough external pfojert fundmig obtained for specific geography education projtcts and CPD artiviliesl. Page 12

THE GEOGRAPHICAL ASSOCIA71014 IA company lirniled by guarnnttè) TRUSTEES, REPORT {coMllNUEDI FOR THE YEAR ENDE031 AUGusf2021 Struciurej go¥emance and man4Èff*nt Itontlnued) Kèy manayment personnel and rtmunerntion policy The Trustees consider that the Gowemin8 Boty of TrI￿tee$lO1reCI0[S and ihe senior leadersh¥) staff team cornprise the key management personnel of the charrty. Betrfftn them they hwe responsibility for direrting and controllin& managine and operatln8 the charity on a day-to￿aY basis. The GA'S Artides of Association preclude a TrU￿¢t from being an employee of the Charity. However, a Trusiee m3V Still enier into a conirart ￿th the charity to supply 800ds or seNces in return for è payment if the Boods or services ale rually required by rhe G The remuneratSon of the senior leadefship Maff team is governed by the GA'S own e￿ablIshed and agreed pay scales tomprising six distina salary ￿3ndS and induding separate ones for both the Chiel Exetutive and the Senior Leadership Team. Eath band scale includes ten 1.5% increments. Key manaeemeni personnel reteNe fixed remuneration in the form of an annual salary that is paitl monthly in arrears and they also benefit from the GA'S membership of the USS superannuation scheme in which ihe empl¢)yerfs tontribution raie at the 31 August 2021 was set at 21.1%12020- 21.1%). Intrernental salary Kale points and cosi of living increases of all GAstaff are subject to an annual review. h. Fundralslng The charity di)es not actfvely fundiaise from the general publlo but fji does welcome 5UPPOrt in the foim of donations and legaties from GA members and non members alike. The GA does not use any professional fundraiser or commercial partrtipator to carry out fundraising actmties on its behalf and due to the low level of fundrai51ng that is currèntly undertaken. rt is not a participant of 3 voluntary scheme fN ie8ulatin8 fundraising or any voluniary standard of fundraising for auivities carried out on its behall. The GA r￿1ve￿ no eomplaint5 during the year under review in tonnection with ils fundraising actwibes. During the year under review the GA received a number of donations from lOng5tan￿Ing members in support of the tharitable work of the Gi fof whith it ￿ truly grateful. L Rlsk Mana￿Ment The Trustees have considered the financial and operational risks io whith the GA is liable. and havè introduced policies and managernent 5tructure5 to mitigate them. The airn of the GA'S risk policy is to er&ure that all ri5k5 are adequately documented and evaluated. This evaluation takes into atttsunt the probability and severity of the risk with a view to dwermlnln8 whether there 15 a need lor any new control pfoctdures or improved rnonitorln8 mechanisms. The rlsk assessment process itself is monitored in recoEniiion of the fact that risks can and do change over time An annual review and io the GA'S Trustees takes place to help ensure thai the oreanisation's risk assessment and 5UPPOrtin8 rtsk iegister can be relied uptsn. Financial Controls are designed to minimise the risk of fraud OT Other1055e5 and the GA has appropriate rnsuran¢è tovera8e for thÈ act￿llieS thai it is invofved in. Furtherrnore. the organisation's reseryes polity would allow tht GA to tontinue optratine for several years with a dÈfiat budget rf the Trustees were to decide that thi5 is warranted. Notwithstanding the GA'S improvtd performance in the area of membership rKruitment and reteniion during 201￿20 and 2020-21, in the opinion of thè Trustees the main risks faced by the charity still include rnember reiention and the shorter-term Challe￿e$ of continuinR to secure new extemally funded curriculum development prolects. The GA has a number of risk mii¥8a¢ion strategies in place to addressthesÈ specific areas. Page 13

ThE GEOGRAPHICALASSOCIATION IA ¢ompany Ilmlled byKuar•nl••) TRUSTEES, REPORTICONTINUEDI FOR TFIE YEAR EAIDED 31 AU6U5f2021 Slatement of trust•tt' rèsporfjlbllltles The trustee5 are responsible for preparing the Trustees. Report and the financial $￿teMentS in accordan￿ with applicablè law and United Kingdom A¢tountin8 Standards Iunited Ki￿d0M Generalty Accepted Actounting Practice). The law applicable to charities in England & Wales reques the trU￿ee5 io prepare financial staiements for each financial year which give a true and fair wew of ihe stale of affairs of the tharity and of the incoming iesourees and application of fesources of the charity for that period. In preparing these financial statemenis. the Trustee5 are wuired to= selert suitable accounting policie5 and then apply them consistently- observe the rnethod5 and prinaples of the Charrties SORP IFRS 1021- make judgrnents and accounti￿ estimates that are reasonable and prudent: siate whether applicable UK Accounting Standards IFRS 1021 ha¥e been followed, subjeei to any material depanures disclosed and explained in the financial statemen￿. prepare the financial statements on the goirv4 COntÈm basis unle5$ it is inappropriate to wesume that the ¢harity will contirvje in operation. The Trustees are ￿sponsible for keepsnE proper aCCOVAtin8 records ihat disclose with reasonable acturary ai any time the financial POSFtion of the charity and enable them to ensure that the financial stements comply with the Charities Act 2011. They ale also responsible for safe8uardin8 the assets of the chariiable company and hence for taking reasonable steps for the prevention and detection of fraud and other irreBularrties. Dlsclosure of intorn￿tIon to a￿lItOr In so far as the Trustees are aware.. there is no reievani audit infomiation of which the chariiablt companW5 auditor is unawafe., and the Trustee5 have taken all steps that they ought to have taken to make theMSe￿e$ aware of any rel￿ant audit Information and to establish that ihe audltor is aware of that information. Audllor A resolution will be Pfoptssed at the Governi￿ Body Me￿ine thai BHP LLP be re-appointed as auditor for thp ensuing year. Approved by order of the merthrs of the board ol trustee5 and signed on their behalfby: Bob DIthT Honorary Treasurer Date= Nov 15, 2021 Pa8e 14

THE GEOGRAPHICALASSOCIATION IA comp•ry limlted byzuaranteel INDEPENDENT AUDITOR'5 REPORTTO THE MEMBERS OF THE GEOGRAPHICAL ASSOCIATION Oplnlon We have audited the finanaal staternents of The Geographical A550aation (the 'CharIt3b￿ cornpany'l for the year endèd 31 Au8USt 2021 which comprise the statement of finanaal activities. the balance sheeL the statement of cash Ilows and the related notes, induding a 5urnmary of significant accounting policies. The financial reportingframework that has been applted in their preparaiion is applicable law and United Kingdom Accounting Standard5. induding Financial Reporting Standard 102 'The Finanoal Repjrting Standard applicable in the UK and Republic of IrelarKJ' (United Kin8dom Generamy Accepted Accounti￿ Prartitel. In our opinion ihe financial ststements.. ve a trut and fair vitw of the state ol the charitable companV5 affairs as at 31 August 2021 and of its intorning resources and applicaison of resourtes. induding its intome and expenditure for the year then endÈd,. have been propefjy prepared in accordance with Vnrted ￿l￿d0M GenerallyAccepted Accountin8 Practice,. and have been prepared in accordan￿ with the requirements ofthe Cornpanies Act 2006. easlsfor oplnlon We conduded our audit in accordance Iniemèth)nal Standards on Audlting IUKI IISAS IUKII and applitèble law. Our fesponsibililies under those slandards are further described in the Auditor's fesponsibililies for the audit ol the financial statements section of our report. We are independent of the charitèble company in actordance with the Èthical requirements that are rdevant to our audit of the financial statements in the United Kin8dDm. includin8 the Financial Reportin8 Council's Ethical siandard. and we have fuffilled our othef ethical responslbilities in accordance with these fequirements. We believe that ihe audit t￿den￿ we have obtaintd is svfficient and appropriate to provide a basls for our opinion. Condusion5 relating to (M￿rn In auditing ihe financial statements. we have toncluded thai the dirertors. use of the going concern basis ol accounting in th preparation of the financial statements is approprbaie. Based on the work we have performed. we have not identified any material uncertaiThties relaling to event5 or condtions that, indi￿duallY or collectivety. may cast stgnificant doubt on the charitable cgmpany's ability to contlnue as a going concern for a period of at least twelve rnonths frorn when the finanual statements are authorised lor issue. Our responsibilities and the responsibilities of the iNstees wth to 80ing toncern are described in the relevant Sèdions of this report. Pa8e 15

THE GEOGIiAPM1￿lA$s0C1AT1Om IA company limltod byvarnnteel INDEPENDENT AUDITOR'5 REPORTTO THE MEMBERS OF THE GEOGRAPHICAL ASSOCIATION ICONTINUEDI Other Infommtion Thè other information comprises the informatyon induded in the truslee5' reporr other than the financial statements and our auditor'5 report thereon. The trvstees are responsible for the other infonnation contsined within the trusiees. report. Our opinion on the financial statements does not cover the other information and. e￿pt to the extent otherwise explicitly stated in our report, we do not express any form of assuran￿ conclusiort thereon. Our responsibility is to read the other information and, in dging so, consider whether the other infomiatioft is materially inconsistent with the rinancial 5tatemenis or our knowledge obtained in the course of the audit. or otheThvise appears to be rnateriallv rn15Stated. If we ideMIfy suth material inconsistencies or apparent maierial mlsstatements, we are required to determine whether this Elves nse to a material misstaiemeni in the financial $￿ternents themselves. If, based on the work we have performed, we conclude ihat there Is a material misstatement of this othef information, we are required to report that fact. We have nothing to re￿rt in this regard. Oplnlons On olhe¢ matters prescrlbed by the Comwies Art 2006 In our opinion. based on the work undertaken in thÈ course of autht.. the infomiation g￿en in the tru51ees' report lincorporatyne the direttors. reportl for the financial year for whith the financial statements are Pfepared is consistent with the financial slatemenls. th? directors. report has been prepared in accordancè with applicable legal requirtments. Matters on whlth we are roqylred lo rep(rt byexuptlon In the light of our knowledge and undtr5tanding of the charitable company and its environment obtained in the course ol the audit. we have not identrfied material mi551aternents in the directors. repyt. We h￿e nothing to report in respect of the followng matters Sn ￿latiOn to whidb CompaThes Act 2(￿ re4uiies us to report to you if. in our opinion: adequate accountin8 records have not been kept. or returns adequate for wr aydil have not been received from branches not visited by us.. or the financial 5taternents are not in agreement with the att¢)unting rettsrds and returns: or tertain disclosures of directors. femuneration SFecified by law are not made- or we have not reeeived all the Information and explanaiions we require foi otsr audit.. or Ihe trustees were not entitled to prepare ihe financial staitynents in aceordance with ihe small companies regime and lake advantage of the small companies. exemptbons in preparing the direttors. report and from the requiremeni to prepare a strategic report. Page 16

THE GEOGRAPHICALA$5LXIATION IA company Ilfflit•d by8u•ranteol INOEPENDEMf AUDITOR5 REPORT TO THE MEMBERS OF THE GÉOGRAPHICAL ASSOCIATION ICONTINUEDI AesponslbSlltEes oltrustees As explained more fulty in the tntstees, responsibilities statemtnt. the trustees (who are also the threctors of the charitable company for the purFWS ol company lawl art responsible for the preparation of the finanoal stalernent5 an for being satisfied that they give a true and fair ￿ew. and for suth internal control as the trustee5 determine is necessary io enable the preparètion of finantial Statements that art free from material mlsstatement, whether due to fraud or error. In Pfeparing the tlnanoal ststements. the trusiees are responsible for assessing the charitable Company's ability to conilnue as a going concein. disclosiw as applicable. matters felated to 8oin8 concem and using the 8oing tt*ntern basls of accounting unless the trusiees either intend to liquidaie the charitable tompany or to cease operations. or have no realistic alternaiive but to do so. Page 17

THE GEOGRAPNICALASSOCIATION IA company Ilmlted byy¥antee) INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF THE GEOGRAPHICAL ASSOCIAnoN ICONTINUEDI Auditw's responsibilitiu lorthe audrt ol the finandal statements Our objectNes are to obtain feasonable assurance about whether the finanoal statements as a whole are free from material misstatement, whether due to fraud or eryor. and to issue an auditor's report thai includes our opinion. Reasonable assufance is a hi8h level of assurance. but is not a 8uaraniee ihat an audit condurted in accordance wbth ISAS IUKI will always detect a material misstatement when it e￿$ts. Misstatements can arise from fraud or error and are considered maierial rf, individually or in the ag8re8ate, they could feasonably be expected to influente the economic decisions of users taken on the basis of these fir)ancial staiements. IrregularTrties. intludin8 fraud. are instances of ngn-compli3nce with laws and regulations. We design proce(lures in line with our responsibilitiès. outlined above. to detert material misstatements in respect of irregularities, Sncluding fraud. The specifit pr¢xedu¥ts for this engagement and the extent to whith these procedures are capable of detecting irregularities. includin8 fraud 15 detailed below= the engagement partner tnsvréd that the engagement ttam eollettivtfy had the appropriate cornpetente. Capa￿.11t1eS and sk41s to identify or fetognise non-compliance with applicable laws and reeulations-, we identified the laws and reEulations applicable to the charity thrO￿h discussions with management and trustees, and frorn our knowledge and experiences of the seclor." we fotussed on specific laws and regulations which we ton5idered may have a direct mater¢31 effert Dn the financial statements or the operations of the charity. indudine Chariiies Act 2011. Companies Act 2(X)6. data protertion. employment and health and safety lewsl3ti0n.' we a55es5ed the extent of Complian￿ with the Liws and regulations identifLI above ihrou8h making enquiries of m¥naBtment: identified laws and regulations were eommun4(attd wthin the audit team regularly and the team remained alert to instsnces of non-compliance throughout the audit. we a5se5sed the suscepiibility of ¢he companvs financial statements to material misstaiemenL Includin8 obtaining an understanding of how fraud rnight 0￿1r. by- making enquiries of management as to where they considered there Wa5 susceptibility to fraud, their knowledge of actual, suspecied and alle8ed fraud- and Considerin8 the internal controls in place to mr(eate risks of fraud and notrcompliance with laws and re8ulatlons. Auditor's responslbllhles lorthe •udlt of the financlal st•temeb)ts To address the risks of fraud throv8h managernent bias and o¥erride controls. we= performed analytScal procedures io identify any unusual or unexpected relationships- tested journal envies to identify unusual transauions,. assessed whether judgements and assumwbons made in determinin8 the accountin8 estimaies set out in note 3 were indicative of potential bias.. and vestigated the rationale behind significant or unusual transactions. In response to the risk of trwulariiies and non¥compliance with laws and re8ulattons, we designed procedures which induded. but were not limited to= 38reein8 financial statemeni disclosures to under￿lIng5￿PpOrtinedOC￿mentat1Ort.' reJin8 the minute5 of meeiines of those chareed with governan￿. enquiring of management as to acwal and kK)ientval litigation and claims. Becausè of the inhefent lirnitations of an audrt. there is a risk that we will not detect all irre8ularities, intluding those leading to a rnaterial missiatement in the financial siaternents or r￿n<0MplianCe with re8ulation. This risk increases the More that compliance with a law or regulaiion is removed from the events and transattions reflected in the finandal Page 18

THE GEOGAAPHlfALAssoaAIIOII (A<0mpa￿ Ilmlted ty•thranltt) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE GEOGRAPHICAL ASSOCIATION ICONTINUEDI statements. as we will bt less likety to bttome aware of instances of non-complian￿. The risk is also grèater regardin irregularities occurring due to fraud rather than error. as fraud involve5 intentional concEalment, forgery. collusion, OMIS￿on or mi5repre5entation. A further description of (￿r re¥K>n51bilities is a¥all?ble on the FinJndal Aeportkng Councll'5 web511e at.. https".l/wwpw.Irt.or8.uklOur-WorklAuditlAudit-and-a55uTarKelStandards-an&8UKlancelStandard5-and-8uidantÈ40r- auditorslAuditors-re5ponsibilities-for-4ydiVDescription-of4uditors-rÈsponill¢ies-for-audit.aJpx. Thls de5¢ription ftsrrns part tsf our auditoes report. Use of our report This report is made 501tly to the charitable companV5 mrnbers. as a body. in accordanttwtth Chapter 3 of Part 16 of the Companies Act 2C•J6. Our audit work ha5 been undertaken 50 that we mem 5t3te to the charitable crynpanvs members those matters we arè rtqulfed io state to them in an audiiof's report and for no other purposè. To the fullest èrtènt rrnitted by law, we do not accept or assume iespon5ibility to anyone other than the tharitable cornpany znd its members. as a body, for our audft for ttms Tepm. or fof the opfjnlons we have formed. 64P LL¢ Jan• Marshall (Serdor stavjtwyaudltwl for and on behalf of BHPW StatutoryAudltors 2 Auiland Park Sheffield $10 2PD Date.. Nov 15. 2021 Pw19

TrIE GEOGRAPHICAiASSOCIATION IA tompany limited by s￿1•nI4t) STATEMENT OF FINANCIAL AcfiviTIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR ThE YEAR ENOED31 AUGusf2021 Total funds 2021 Total fvnds 2020 funds funds 20 IrKomefrom: Donations and leÉaues Charitable aCtI￿tIeS 25,211 I,¢XJ7,552 48,361 32,241 866.767 60.195 26,73Q 866.767 60.195 26,730 Other tradirs acti¥itie5 Inve5trnents Total In(offle 953ffi92 953.692 1,113,365 Empendlture Im: Raising funds Charitable adNlties 19317 ￿3￿24 19,327 943.524 15,613 1,029,725 Total expendlture 96USI 962￿51 1.045,338 Nei lexpenditurellln(orn* b¢tore net galns on investments Net gains on investments 19,1591 305.655 19,1591 305.655 68,027 8,241 15 Net rno¥ement in lunds 296A% 296M96 76,268 Recondllatlon •f funds.. Tgtal funds broueht forward Net movement in funds 370 2.IXKIW2 296N96 IOIS.352 I96￿96 1,939,084 76,268 Total tund5 urrled l¢nward 1437(1 2297A78 2,311 2,015,352 The Statemeni of financial actT¥rties includes all gains and losses reco8nised in ihe year. Page 20

THE GEOGRAPHICALA550CIATION IA company Ilmlted byiuaranteel REGISTERED NUMBER- 07139068 BALANCE SHEET ASA T31 AU6U5T2021 2021 2020 Hxed a$5ets Tangible assets Investments 14 279,145 1.922.932 293,453 1,698,241 Is 2202m7 1,991,694 Current assets stocks 16 83.919 63,413 Debtors 17 65N21 430317 48,073 392,167 Cash at bank and in hand 579.657 503.6S3 Crèditors.. amounts falling due within one year 1378.1621 1395.2571 14et oJrrrt assèts 201A95 108.396 Total •ssts loss tynenl Il•bllities I403￿72 2.100.0 Creditors.. amounts falling after more than one year 19 19L7241 184.7381 Total net 455els 2.311A48 2,015.352 Charlty fvNIs Restricted funds 14370 14,370 Unrestrirted funds (Revaluation reserve £550.51712020.. £33S,21311 2,297N71 2.000.982 Total funds 2.015.352 Pa8e 21

TME GEOGRAPHICAL ASSOCIATION IA company limit*d by Èuaranteel BALANCE SHEET ICONTINUEDI SA T31 AUGUST2021 The trustees acknowledge their responsi￿.1111es for cOMp￿"reT#￿h the requirements of the Art with respect to accountln6 records and preparatton of financlal suiements. The financial statements ha¥e been prepared in ac￿rdance wrth the prwi5ions applicawe to entrtles subject to the small cornpanie5 regime. The financial statements were approved and authorised fty issue by the trustee5 and sgntd M their behalf bv.. Mr B Dlgbv Homrary Treasurer Date: Nov 15, 2021 The notes on pa8es 24 to 46 form part of these finanoal staiements. Page 22

THE GEOGRAPHICAiASSOCIATION IA ¢ompany Ilmlted by 8uarnNtèl STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST2021 2021 2020 Cash kn from operatln8 acIF4ltles Net cash (used inll provided by operating artrwlies 146.6051 107,633 Cash flows Irt)m InTrtstln8 ￿fvItIeS Oiwdends, interests and rents from invemments Purthase of tangible fixed a$5ets Proceeds frorn sale of invÈ5trnents 26.730 11811741 414,419 13549331 32,241 115.8871 364.709 1379.1461 Purchase of inve3trnent5 Ilet cash wovlded by In¥esthy artl¥ltles 7L142 L917 C•sh flows from finandnoartl¥itles Pension defiot coniribution5 14J651 13,8521 Net (ash used In financing acll¥S 14A651 13,8521 Change ca and cash eguhalents In the year I9￿72 105.698 Cash and cash equivalents ai the be8inrwn8 of the year 4U*70 323,172 Cash and ush equlvalents atthe end of the year 24 448.542 428,870 Page 23

TME GEOGRAPHICAL ASSOCIArnII IA company Ilmlted by w¥r•nteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 AU6U5T2021 General lThfoffmatlon The charity is a company lirnited by guarantee. The fflembers of the company are the Trustees named on page l. In the event of the charity being wound up. the liability in respert of the guarantee is limited to £1 per member of the charity. The addres5 of the re8iStered office is w'ven in the charity information on page l of these financial staternents. The nature of the tharrtrfs operations and principal aclivitie5 are detailed in Ihe trustees. report. Accountin8 polkles 2.1 Basts olprtparutlon oAJlftM¢A71statefflents The ¢harity constitutes a public benefit entity as defined by FRS 102. The financial Stsiernents have been prepared ￿ actordants with Atcounting and Reportirrf by Charit15.' Statement of Recommended Pradite applicable to charities preparin8 Iheir accounts in atcordance with the Financial Reporting Standard applicable in the UK and Republit of Ireland IFRS 1021 issued in October 2019. the Financial Reporting Standard applicable in the iknited Kingdom and Republic of Ireland IFRS 1021 and the Companbes Act 2006. The financial statemenis afe prepared on a 80in8 ttntèm basis under the historical cost convention. rnodified io intlude certain trents at fair value. The finantial siaiements ale presented in steding which is the functional currency of the charity and rounded to the nearest El. The significant accountin8 pdicies applied in the weparation of these finantial statements are set out below. These policies have been consistently applfjed io all years presenied unless otherwise stated. 2a Gothg con¢¢rn The financial statements tjeen prepared on a going concern basis as the tntstees believe that no material Un￿rtaInlIeS exist. The trustees have considered the level of funds held and the expected level of income and expendrture for 12 month5 from authortsin8 these financial staiements. The budReted income and expenditure is sufficient with the level of reserves for the tharity io be able to continue as a goin6 cortcern. 23 Incorne All incomt is recognised once thè tharity has entitlement to tht irKorne. it is probable that the income wlll be recei￿1 and the arnount of incorne receivable can be rneasured reliatly. Income tax rtcoverable in relation to Investment income is rétogni5ed at the timè thè irwestment income is recepiable. Page 24

THE GEOGRAPHICALASSOOATION IA comp•ny limit•d by lua￿teel NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 AUGUST2021 Ac￿￿nI1￿ pollcle5 I￿ntINed) 2.4 Expendlture EXpeNdit￿re is ￿OgnISed once there is a leeal or constructNe oblieation to transfer ettnomit benefit to a thtrd party, li is wobable that a transfer of economic benefits will be required in settlemeni and the amount of the obligation can be meaSU￿d ￿lIa￿jV. Expenditure is dassified by artmty. The costs of ta¢h activity are made up of the toial of dirert costs antl shared costs, including support Costs involved in undertakinB each actNity. Direu costs attributable to a single aaNity are allocated (Jirertly to that attivllv. Sha￿d costs whlch contribute to more than one artiwty and support costs wbith are not attributable io a single activlty are apportioned between those artNitie5 on a basis conysteni with the use of resources. Central staff costs are allocated on the basis of time spent. and depreciation thar8es allocated on the portion of the asseys use. Expenditure on rai%1￿ ful￿ indudes all expenthture i￿Urred by the charity to raise funds for its tharitable purposes and relates to investment management ftts Expendiiure on tharitable activities is incurred on dire￿ty undertakine the actbvilles whieh further the charity's objertb¥es, as well as any a$s￿lated support costs. Grants payatAe are thar8ed in the year when the offer ￿ rnade except in those cases where the offer is conditional. such grants being recognised a5 eX￿dIt￿re when the conditigns attathin8 are fulfilled. Grants offered subject to conditions which have rwt been met at the year end are noted a5 a cornmitment. bul not accrued as expenditure. l expenthture Is indusive of 5rrec0vera￿e VAT. 2.5 thterestrffelvowe Interest on fund5 held on deptisil is included when re￿1¥able and the arnount tan be rnea5ured reliably bv the tharity.. this is normally upon notification of the interest paid or payable by the in5titulion with whom the funds are deposited. Tan8ible fixed assets costin8 £2rA) or more are Capthltsed and I￿08n1st4 when fvture econornic benefits are probable and ihe cost or value of the asset Can be measured relk*ly. Tanwble fixed assets are initially fec¢£nised at cost. After reco8nition, under the cost model, tan8ible fixed assets are measufed ai cost less accumulated depreciation and any accumulated impairment1055es. All tost5 incurred to brin8 a tangible fixed asset inio rts intended wixkin8 tondititsn should be Fncluded in the measuremeni of com. Pa8e 25

THE GEOGRAPHICAL ASSOCIATIOII IA company Ilmlted byguarnnteel NOTES TO THE FINANCIAL STATEMENT5 FOR THE YEAR ENDED31 AUGUST2021 A￿o￿AlInI poqcles l¢•rtlnwdl Depreciation is charged so as to allocate the cost of t3￿Ible fixed assets less thelr resHlual value over their estimaied useful lives. Depreciatson is provided on the followiTh4 ba5es'. Freehold property Fixtures and fitti Office equipment Computer equipment 5% per annum on cost IO% per annum on net book value 20% per annum on net bookvalue - 33% per annum on cost Z7 Investments fixed asset investments are a form of fTrnancial instrument and are initially reco8nised ai their iransartion cost and subsequently measured at fair value at the Balance sheet date. unles5 rhe Value cannot be rneasured reliably in whith case it is mÈasured at c￿1 less impairment. In¥estrnent gains losses, wheiher realised or unreali5ed. are Coffl￿ned ènd presented as 'GaI￿{LOsSeS? on investrnents. in the Statement of financial activitie5. Stocks and Work in progress are valued at the lower of cost and nei realisable value after making due allowance for obsolete and slow-moviryd Si¢xks. Cost indudes all direct costs and an appropriate proportion of r￿ed and varièble werhead5. 2.9 lon9.l¢rni contro£ts Surplv5 on long-term contracts is taken a5 work 15 carried out if the final outcoffle can be a55es5ed with rèasonable cèrtainty. ThÈ surplus induded is ealculattd on a prudent basi5 to refiett the proportion of the work tarried out at the year end. by rectsrdin8 turnovèr and related t05t5 as contrart activity progre5se5. Turnover is taltulattd as that proportitin of total eontwact vzlue whith costs Incurr￿ to date bear to total expected r05ts for that contract. Revenues derived from variations on contracls are recognised only when they ha¥e been attepted by the tU5tomer. Full prO￿510n 15 made for losses on all contracts in the year in which they are first foreseen. ZIQ Debtors Trade and other debtors are recogni5ed ai the settlement amount after any trade discount offered. Prepayment5 are valued at the arnount prepaid net of any trade distount5 due. 111 C•sh ot ondth Cash at bank and in hand indude5 ￿$h and short-terrn highly liquid investment5 With a short maturity ol three month5 or les5 from the date of acquisition or openin8 of the deposit or similar account. Page 26

ThE GÉOGAAPHICALASSOCIATION IA company Wmlted by guardntee) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 AUGUST2021 A¢wuntinKpolkies l¢ontlhm￿dj 2.12 Uobllltles artdprovl&*N Liabilities are iecognised when there is an oblrgation at the Balance sheet date as a resutt of a past event. Tl 15 probable that a transfef of economit bentfit will be required in settlement. and Ihe amount of the settlement tan be estimated reliably. Liabilities ¥e ieco8nised at the amount ihat the tharity ahtiupates it will pay to 5etUe the debt or the amount it has receive(l as advanced payments for ihe 8oods ty servi￿5 it MU￿ wovide. Provisions are measured at the best esiimale of the amounts required ¢0 sellle the obligation. Where the effect of the time value of rnoney ￿ material. the provision is based on the present value of those amounts, distounted at the pre-tax discount rate ihat reflecrs the risks specific to the liabllity. The unwindin8 of the disttsunt 15 recognised in the Ststement of financial artmties as a finarKe cost. 2.13 Flnan(itilinstrum The tharity onty has financial assets and financial liab￿ltieS of a ki￿ that qualify as basic financial instruments. Basic financial instrvmenis are initially rec¢¥nised at transaetion value and subsequently measured at their settlement value with the exception of bank loans which are subsequently rnea5ured al amortlsed cost usine ihe effects.ve interest method. 2.14 P¢nslons The charitatAe partiopate5 in Unp￿r51¢1es SuperaMu?tion Scherne. The assets ol the 5theme a￿ held In a separate trustee-admini5tered fund. Èecause of the mutual nature of the scheme. the assets a￿ not attributed to indiwdual inrtitutions and a schemÈ-wide contribution rate is set. The Institution is therefore exposed to actuarial risks assoaated with other institution5' employees and is unable to identify its share of the underlying 355ets and liabilities of the scheme on a cgnsistent and reasonable b3515. As required bv Section 28 of FRS 102 -Emp￿Vee benefits- the institution therefore accounts for the 5cherne a5 if it were a defined contribution stherne. As a result. the zmount thar8ed to the profit and loss account represents the contributions pa¥a￿e to the stheme. Since the institution has entered into an agreement (the Recovery Plan) that determines how eath employer within the scherne will fund the overall deficit, the institution reco8rtises a liability for the contributions payable that arise frorn the agreement Ito the e￿ent that they relate io the defiutl with relaied expenses bw"n8 recwised through the profft and loss accouni. Under FRS 102, the fair Value ol ihe commitrnent is recoenised. calculaiion of theii fair value of the commitment is subjert to an assumption of the discount raie_ The discount rate is determined by reference to markei yields at the reportin8 date on high quality corporate bonds. Th? rharity a150 operates a Group Personal Pension Plan. The pension thar8e represents the arnounts payawe by ihe charity to the Plan in re5pert of the period. Page 27

THE GEOGRAPHICAL ASSOCIATKX4 IA company limrted by guarante•) NOTES TO THE FINANCIAL STATEMEiirs FOR ThE YEAR ENDE031 AUGUST2021 Acttyjnting polkiesltontinudl 2.15 FuRd accountlry General funds are unrestricted funds whith a￿ availab￿ for use at the discretion of the trnstees in furtherance ol the 8eneral objectives of the charity andwhich have not been designated for other purpose5. Restricted fund5 are fund5 which are to be used in artordance with spEcific restriction5 irnposed by donor5 or which have been raised by the charity for particulai purposes. The costs of rai5in8 and adrninistering sueh funds are thar8ed a8ainst the speCrr￿ fvnd. The aim and use of each restricted fund is set out in notes to the financial siements_ Investment income. gasns Hnd losses are allocated to Ihe appropriate fund. 2.16 Employee bertfts When employees have rendered Servi￿ to the chartty, short-term employee benefits to whith thè employees are entitled are feco8nised at the undiscounied amouni expected to be paid in exthan8e for that se￿ce. Estimates and judgment5 afe continvalty evaluated awtd afe based on historical experience and other fartors, including expectations of fvtvre events that are believed io be reasonable under the circumstances. Critical aCCDuntin8 estThaies and assumptions: The charity make5 e5t1rn3te5 and a5sumption5 concerning the fvtUTe. The resvlting accounting estirnates and assumptions will. by definition. seldom equal the related attual results. The estimates and assumptions that have a significant risk of cau5in8 a rnaterial adjustment to the carryire amounts of a55ets liabilitie5 Wlthin the next financial year are discu55ed below. FRS 102 makes the disiinaion betsveen a group plan and a muhirnployer schemè. A Broup plan consists of a collertion of entllies under common control typicalty with a sponsoring employer. A MU￿1￿mplo￿r scheme is a scheme for entllles not unijer common control and rewesents ltypicallyl an indusiry-wide 5theme such a5 Universities Superannuation Scheme. The accountN)g for a mulli-employer scheme where the Èmployer has entered into an a8reement with the scheme that determtnes how the employer will fund a deficit results in the recognilion of a liability for the Contrib￿l0￿S pèyable ihat arise from ihe a8reemeM Ito the e￿eTrt that ihey relate to the deficit) and the re5vliin8 expertse ID profit or loss in accordante with seciion 28 01 FRS 102. The directOf5 are satisfied that UniveTSitie5 Superannuation Stheme meets the definition of a multimployer scheme and the institution has iherefoiè recognised ihe discounted fair value of the contrartual tontribjtions under the retovery plan in existence ai the date of approving these financial statements. Page 28

THE GEOGKAPMICALASSOOATIOP4 {A company Ilmlted by ¢uarnTrteel NOTES TO THE FINANCIAL STATEMEP¥ts FOR TrIE YEAR ENDED 31 AUGUST2021 Income from and le8xle5 Total fvnds 2021 Total fund5 2020 furrfls 20 fynds 2021 Donations and legaties 25,211 Total 2020 12.500 12.711 25,211 Income from ¢harltsble adl¥ltle5 Totsl funds 2021 Total funds 2020 2021 meMbe￿hIp subscriptions Sale of educational resources 455359 132,046 215,646 60,433 3283 455.359 422.697 132.046 215 139.281 Other Pfofessional development aCti￿tte5 Curriculum developmenl projeas Rental incorne and ￿Nscell3ne0￿S iwKoffle 174.663 267,672 3,239 60￿33 3.283 Tots12021 866.767 86&767 1.007.552 Totsl 2020 I,CQ7,552 I,C($7,552 Page 29

ThE GEOGWHICALA550aATION IA comp•ny Ilmlted by w#rantel NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 AUGUST2021 Income fr¢Jm othr tradlng actl¥llles Incom from non tharltabl tradi￿ actlvllles T￿al funds 2021 Total funds 2020 funds 2021 A(fven6sin8 incorne Partnership intome 21,682 38,513 21.682 38,513 14,306 34,055 60.19$ 60,195 48.361 Total 2020 48,361 48,361 In¥estment In¢ome Unrestrlrted fvnds X121 Total funds 2021 Total funds 2020 Dibridends & Interest 26.730 26.730 32,241 Total 2020 32,241 32,241 Raisins funds Total funds 2021 Total funds 2020 furMIs 2021 Investment management lees 19,327 19327 15.613 Total 2020 15,613 15,613 Pa8è 30

THE GEOGRAPHICALASSOCIATION IA company Ilmtted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGU5T2021 Charltable 4rtl¥ltlE5 Staffi Related Support ¢05ts 2021 Total funds 2021 Total fund5 2020 2021 Publicatlon of educational resources 118,469 574,081 109,655 102205 516,548 Other professional development tivities 81.258 59,561 140.819 510,927 2.250 Grants (note 111 2C(1.227 574.081 169.216 945￿24 1.029.725 Totsl 2020 267.619 S47.852 214.2S4 1.029.725 Analysts of support c¢)sis Total fund5 2021 Total fund5 2020 resourct5 Other 2021 2021 Publiaty and web51te E5tablishrnent 22.765 21.328 26.205 4,733 13,00? 14.244 27.498 34,335 40,449 55.932 37,578 39,486 46,425 62,448 28,317 Other overheads Finantial 31.206 24.726 Governante costs Inthe 101 8.151 51 11.002 109.655 59.561 169.216 214,254 Total 2020 129.210 85,044 214,254 The support costs have b8en allo¢ated based on flow spa￿. headcount and tumo¥er a5 relevant. Page 31

ThE GEOGRAPHICAL ASSOOATION IA company limited by ￿arantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGU5T2021 io. Governan¢• costs Totsl funds X121 Total fund5 2020 fvnds 2021 Tfustee meeting costs Professional fees 1.452 9.550 1.4S2 9.550 19,467 8,850 11,CK)2 11.IJ02 28.317 Total 2020 28.317 28.317 ii. Grants 2021 2020 Education Group IniliatNe Fund GA annual conference and exhibition attendawKe Mutti.sthools everf foi teachers and Siudents in Gloucestèrshire 1,000 1.250 2.250 12. 2021 2020 Wages and salaries Social security costs Other pension costs 447A79 444,416 36,IS7 55,623 36.972 56,649 541,5(Kl 536,196 Page 32

THÉ GEOGRAPHICALASSOOATION {A a>mpany limited by•wan¢ee) NOTES TO THE FINANaAL STATEMENTS FOR THE YEAR ENDED31 AUGU5T2021 Staff costs Ifontinued) The a¥era8e number of persons employed by the th¥ity durin8 the year was as follows: 2021 2020 16 16 The averng¢ headcouni exwe5sed as full-time equivalents was: 2021 2020 No. IJ 13 The number ol employees whoseemployee benefits lexduth employer pension costs) exceeded £60.CW was.. 2021 2020 No. In the band £60.001- É70.rM) The total amount of employee benefits received by key management personnel, being the senior leadership tearn. as detailed on page one, linduding employers Nl and pension contributions) is £282,00712020.' E277,8971. Auditor's remuneration 2021 2020 Fees payable to the tharivs audiior fof the audit of ihe chartty's annual attount5 7.190 6.250 Fees pèyableto the chèibtys auithtor in respect ofr. All non-autht services 1360 2.300 Page 33

ThE GEOGRAPHICAL ASSOCIAn014 IA company Ilmhed by guaTrnteÈl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 AUGUST2021 Tangible fixed astts Offtte and Freew futurts and ¢omputer 11tt1ry5 oquiprnent T¢tsi At I September 2020 Additions 504N97 17,626 7J91 61*64 IOW3 583,987 IS￿74 At 31 August 2021 504A97 251117 71547 602.061 At I September 2020 Charge lor the year 233.638 24030 48A56 6,694 290.534 31382 At 31 August 2021 257.668 10.098 SS.150 322,916 Net book volue At 31 August 2021 146129 14.919 17,397 279.145 At 31 Au8USt 2020 270￿59 9.186 13,408 293,453 Page 34

THE GEOGRAPHICAiASSOCIATION IA Corn￿1￿ Ilmlted byiuarantee) NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED31 AUGusf2021 15. Flxed asset investments Other flxed amet Total 2021 Total 2020 At I Sepiembef 2020 Additions l.S76.145 351.933 1329.0261 85393 L661.$38 351,933 1414.4191 1,638,860 379,146 1364.7091 Disposa15 Revaluati¢￿$ 185.3931 305.655 305.655 ,241 At 31 Au8USt 2021 1.gM.707 1.gM.707 1,661.538 In¥estmwit ¢ash 18.225 18.225 36,703 At 31 Au8USt 2021 1.922.932 1.921932 1,698,241 Historical cost of listed inveslmeffls 1.354.195 L354.195 1.262.607 16. siocks 2021 2020 Publicaiions and journals Work in pro8re5S 43.672 40.247 45.137 18.276 83.919 63.413 Page 35

GEOGRAPMICAIASSOCIATION IA cOm￿n¥ Ilmiled byguarnhtél NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2021 17. 2021 2020 Trade debtor5 39.275 6,077 20.069 23,746 4,647 19.680 Other debtors Prepayrnents and attrued income 65A21 48.073 Credltors: Amounts lallln¢ wttNn one Trar 2021 2020 Trade creditors 18A46 14A125 IL592 14,648 319,451 51.179 2.074 12.375 13,101 316,528 USS pension scheme creditor Other iaxation and social seturity Other creditor5 Ac(rva15 and deferred inc¢)me 378.162 395,257 2021 202Q Deferred income at i September 2020 Resources deferred durmig the year Amount5 rdeased from IKev￿$ periods 297A124 282263 1297x1241 263,887 297.024 1263.8871 282.263 297,024 Income h35 been deferred in respect of membership sub5criptigns and projecl income that ha5 been received in advaTh￿ Of the period to whith it relates. Page 36

ThE GEOGRAPHICALASSOCIATION IA cornpany Ilmoted b¥8￿rantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YUR ENDED3J AUGusf2021 19. credIto￿ Amowtstallln¢ due after ffxwethan year 2021 2020 USS pension scheme ¢reditor 9L724 84.738 The aegreBate amount of liabilltles payèble or repayable Whol￿ or in part more ihan five years after the reportlng date is.. 2021 2020 Repayawe other than by instalments 9L724 84.738 91.724 84,738 See note 26 for details of the USS pension xheme liability. Page 37

ThE GEOGRAPHICAL A550aATION IA ¢omparbV limit￿ by I￿1￿te*l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 AUGUST2021 Statement of fwM15- Current year Trnnslers Inlwt Galnsl b•l•no at 31 Au6USt2021 Unrertrfrted fvods General Funds 1,752.511 953.692 J351 ¥852,710 Revaluation Reserye 335.213 186.8121 I￿13$1) 30S.6SS 5SO,517 1105.7491 Pension Rest (18.9371 2.IXKI.982 953.692 196ZJ511 3115.655 1297.478 Nestfktedfvnds Ear￿ Years & Primary Phase Committee David Boardman Trust 870 Annual Conference Event 115 12.500 14J70 14.370 Totololfvnds 2.015.352 9S3.69Z {961J511 305.655 11,848 Page 38

THE GEOGRAPHICALASSOOATION IA Com￿n¥ Ilmfted by euarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 AUGUST2021 StatemEnt of fwK15 Icont•nuedl Early Years & Primary Phase Cornmittee - This restricted fund represents income reteived during the previous year in the form of a si￿ donation. Intended to help mark Ihe GA'5 125th anniversary, the donation 15 for the exclusive use of the GA'S Eafty Year5 & Primary Phase Committee to be expended for the benefit of teachers working in the Key stsge l and Key Stage 2 curritulurn phases. DavFd eoardmath Tru# - Thls donatitin is to be used to help students to attend the Worldwise Challenge. the weekend of fieldwork and group artiwties (supported by the Field Studie5 Countill for year ￿11 students at schools partiupating in ihe WorldWi5e programme. Annual ConftrKè Event- This donation is io be used to furtd a networking event la lunth or dimer fof invited guestsl for Ion8Standin8 membets of the GA at its Annual Conferentt and Exh1￿"170n. Trartsfers. transfers between l￿d5 represent realised gains from Inveshnents. Page 39

THE GEOGRAPHICALASSOCIATIOII IA tompany IlmSted byDwraniee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDE031 AUGUSf2021 20. ststement of funds Icontlnuedl ststemrt of funds- pr)r year Balance at I September 2019 Balance at 31 August 2020 Gainsl ILosse51 Incoft Expenditure Unrestrktedfvnds General Funds 1.694.943 326.972 184A311 i.l(K).865 11.043.227) 1.752.581 335.213 186,8121 Revaluation ReseThe 8.241 Pension Reserve 11.9811 1.937,084 I,ICQ,865 11,045,208) ,241 2,000.982 Restrlrtedfvnds Eafty Years & P￿rnary Phase Committee David Boardman Trust 11301 870 Annual Conference Event 12,5QJ 12.500 12. 11301 14.370 1,939,084 1.113.365 11,045,3381 8,241 2,015.352 21. Summary of fvE￿5 Swnmary offvnds- turrent 0*￿￿Ce at I Septefflber 2020 G•ins/ 0•1•￿¢ at 31 11055esl Auyst2021 experth General fund5 RestrKted funds 1000.982 14,370 953,692 196US1) 305ffi55 1297.478 14.370 2.015.352 3.692 I962￿$ll 305.655 2.311.848 Page 40

ThE GEOGRAPHICAiASSOCIATr)N {A company limlted byBuar¥ntsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 AUGUST2021 21. Summary of fvnds Icontlnutdl Swnmary of fund5- prior year 8alancÈ at I September 2019 Balance at 31 August 2020 Gainsl IL055e51 Incoff Expenditure General funds 1.937.084 l.l(Kl.865 I2,5￿) 11,045,208) 8,241 IOC¥J,982 14.370 Restricted funds 1.939.1 1.113.365 11.045.338) 8.241 2,015,352 21 Analysbs of net a55els betwn fvnds Analysis of net assets between fund5. cuvrent year Unreslrlrttd funds zoii Tthl funds X121 funds 2021 Tan8ible fixed asseis Fixed asset investments 279,145 1.922,932 565,287 1378.1621 191.7241 279.145 1322.932 Current assets 14,370 579.657 1378.1621 191.724) Crediiors due within one year Creditors due in more than one ytar rotol 14.370 2.297.478 2,311W8 Page 41

THE GEOGIIAPHICAL ASSOCIATh)M IA company limiied by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AU6U5T2021 Ansls of rtet assets bth¥tn lunds. prior year Restricted Unrestrbcted funds funds 2020 2020 Total funds 2020 Tan8it4e fixed ossets Fixed asset investments 293,453 1,698,241 489,283 {395.2571 184.7381 293,453 1,698,241 503,653 1395,2571 184.7381 Current assets 14370 Creditors due within one year Creditors due in more than one year rotql I4￿70 2.(Kl),982 2.015.352 Rtt0ntllla￿on of mo¥ement In funds to net cash Ilowfrom Wall￿ actMtt•s 2021 2020 Net irKome for the year la5 per Statement of Finamal ArtNitiesl 296A96 76,268 Adjustmentsfor. Depreaation charges Gains on investmenis 31382 1305.655) {26.7301 120.5061 117.348) 129,046) 23,802 31.899 18,2411 132.2411 118,3661 14.7811 57.263 5.832 Dividends. interests and rents from in¥estments Increase in stocks Intrease in debtors IDecreasel/increase in creditors FRS 102 pension crediiof movement Nettosh lusedlftJ/pm¥ldedtyopm¢lftq4irtl¥lt*s 146,605) 107.633 Page 42

THE GEOGRAPHICAL ASSOCIATION IA company limlted by euardllteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDE031 AUGU5T2021 Analysls ol cash and equlvalerts 2021 2020 Cash in hand 430.317 18.225 392,167 36,703 Cash held within invèstment portfolio (note 151 Totslcash and ctrsh equivalerts 448.S42 428,870 Analysls of thanges in net debt September 1020 Cash flry4VS At 31 Auiust 2021 Cash at bank and in hand 391167 .703 38.150 118A781 430,317 18.225 Cash held in investment portfolio 428￿70 19.672 448.542 Page 43

ThE GEOGRAPHICALASSoaATION IA ￿MPanY Ilrnlte41 by EuaAntrel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR E+VDED 31 AUGUST2021 P•nslon wnmltments The AsSO(iation operates group personal pension plan for its employees. The amount recogni5ed as an expense during the period was £10,18612020= £11￿19). The charity operates a defined benefit pension 5theme. The Association participate5 in the Uni¥er5ities Superannuation Stheme IUSSI. The total cost thar8ed lo the income and expenditure account wa5 £46.46312020: £43,8041. The latesi availabk complete artuari valuation of the Rètirement Income Builder 15 at 31 March 2018 (the valuation date). which was carried out using the projected unit method. A valuation a5 at 31 March 2020 15 underway but not yet complete. Since the Instit￿lOn cannot identify its share of USS Retirement Incorne Buildr (defined ￿nefIt} assets and liabilities, the followin8 disdosures fetlect those relevant forthose assets ènd liabilities as a whole. The 2018 valuation was the nfth valuation lor the stheme ur4lef ihe sthemè-spectflc funding re8lme intfoduted by Ihe Pensions Act 2CIM. whith requires sthemes to adopt a siatutory funding objectrve. whith is to have sufficient and appropriaie assets to cover iheir techniol prowsbons. Al the valuation dale, the value of ihe assets of the stheme was £63.7 h"Ilion and the value ol the scheme's technical pro￿S1On$ was £67.3 billion indicating a shortfall of E3.6 billion and a fvnding iatio of 95%. The key financial assumptions used in the 2018 valU￿10n are described bekjw. More detèil is set out in the Statement of Fundin8 Prinaples. Pension increases ICPII Terrn dependent rates in line with ihe difference between the xed Interest and Index Linked yield curves, less 1.3% p.a. Discount rate Ifonward rates) Years l-IO= CPI + 0.14% reducing linearly to CPI-0.73% Years 11-20.. CPI + 2.52% reducin8 linearty to CPI + 1.55% by year 21 Years 21 +.. CPI + 1.55% Principal actuarial assumptions at the 8alance sheet date (expressed as weighted averages).. At 31 August At 31 Au8USt 2021 2020 Oiscount ratt 2.59 Penslonable salary gr¢)￿h Pension increase5 nla 130 nla 4.20 Pa8e 44

THE GEOGRAPHICAiAS%XIATION IA cornp•ny Ilmlted byBuarantÈe) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 AUGU5T2021 26. P•nsion ¢ommltm•nts Iconllnued) The main dem(8raphlc assumption used relaies to the mortallty assumptions. These assumptions are based on analysis of the schem¥s experience Carried out as part of the 2018 artuarial valuation. The mortality assumoion5 used these fi8Ufes are as follows: Male rnemlRrs' monality 71% of AMCCQ pre retirefflent & 97.6% of SAPS SINMA I"li8ht"I post reiirement Female mernbers. mortality 112% of AFCIXI pre retirement & 102.7% of RFVCX) post retirement Use of these mortality table5 rea50￿b￿ reflects the actual U55 eMperien￿. To allow for fvrther improvements In mortality rates CMI 2017 projections with a smoothing parameter o18.S and 1.8% pa for males and 1.6% pa lor females lon8 tefrn rates were also adopted. The current kfe expeaance5 gn reiiremeni at a8e 65 are= At 31 Augu51 At 31 August 2021 2020 Yea Years Mortality rates In) yeaisl - for a male aged 65 now - at 65 for a male a8ed 45 now - for a fernale aged GS now - at 65 fora fernale aged 45 now 24.4 26.3 26.1 25.9 27.9 27.7 The pension crethtor is made up of £14,02512020: £2,074) due wthin one year and £91.72412020= £84.7381 due in more than one year. Page 45

THE GEOGRAPHICAL ASSOCIATK>N IA companylimlted by0￿rantee) NOTES TO THE FINANCIAL STATEMEpirs FOR THF YEAR ENDED 31 AUGUST2021 27. Operat1￿ le￿ ¢ommllments At 31 Au8USt 2021 the tharity had commrtments to rnake futu￿ fflinimum lease payments under nOn￿ncelIable operating leases as follow5.. 2021 2020 Not later than l year Later than l year and th)t laterthan 5 years Later than 5 years 118 590 3.267 9,S96 13.139 16.524 10.186 RéLd ptytransartions Amounts totalling £6.76612020.. £13.4771 have been paTrd to 612020.. 131 Gr)veming 8oard Members as set out bel¢)w.' 2021 2020 Travelling txpen*s Royalties Consuhanty fee5 263 5,622 254 105 6,398 7,601 6.766 13.477 Consultanry fees ha￿ been received by S12020= 51 Governing Board Members Imr B Digby, Mrs O Lintern-smyth, Mr5 G Miller. Mr R Hatwood and Mr A Parkinsonl in connection with pahd for specialist skhlls and service5 that thev have prowded for third parties on behalf of the Geographical K%50Ciation during the year. There was £139 induded in debtors at year end12020= £nill. Page 46