Annual report and accounts 2023/24
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In the last 50 years, our work has helped double cancer survival in the UK
We’re the world’s leading cancer charity, dedicated to saving and improving lives with our research, influence and information.
Our vision is a world where everybody lives longer, better lives, free from the fear of cancer. And step by step, day by day, our researchers are making this vision a reality.
Read about some of the progress we’ve made in our five focus areas: Discover, Translate, Engage, Partner and Sustain.
Cancer is the defining health issue of our time, and the challenge is only growing. What gives me, and all of us, hope is the opportunity that lies before us.
Michelle Mitchell OBE, Chief Executive
Our highlights from 2023/24
- Results from the INTERLACE trial revealed that giving people with cervical cancer a short course of chemotherapy before starting standard treatment cuts the risk of death or the disease returning by 35%.
- 2 new drugs that we helped to develop were approved and released for use: Akeega™ for prostate and breast cancer and Truqap™ for HR-positive breast cancer.
- Ahead of the Westminster General Election, we published Longer, better lives: A manifesto for cancer research and care, which outlines how to prevent 20,000 cancer deaths every year by 2040.
- We achieved an inclusion score (measuring the sense of belonging, and feelings of inclusivity and safety in the workplace) of 80% in our staff survey.
- The About Cancer area of our website was visited 52 million times by more than 24 million people around the world.
- We launched More Research, Less Cancer – the biggest philanthropic campaign in the history of the UK charity sector, which aims to raise £400m.
Our research spend
We spent £399m on cancer research. This includes money we committed to in previous years but paid out this year, as well as money paid out to new projects we committed to this year. Here’s a breakdown of our research spend:
- £93m: Relevant to all types of cancer (eg research infrastructure and research studies looking at cancer survivorship)
- £84m: Basic research (understanding the fundamental biology of cancer)
- £42m: Research admin and support costs (eg peer review, grant management, IT and other support costs)
- £16m: Revenue shares (share of royalties from sales of innovations developed from our research, which we pass on to others involved in it)
- £164m: Research projects focused on specific cancer types (see page 10 of the report for breakdown by cancer type)
Our expenditure
In 2023/24, we spent £692m (2022/23: £641m).
- We committed £400m to cancer research, supporting infrastructure and providing grants for investigator-led programmes, projects and training fellowships.
- We committed £133m to generating funds, which includes investment in supporter-focused digital transformation and the costs associated with market-driven wage inflation.
- We committed £127m to trading, opening nine new stores, expanding our online marketplaces and covering significant increases in the cost of energy and the national minimum wage.
- We committed £32m to cancer information and influencing activity to shape and inform government policy changes and provide people with trusted, accurate information about cancer.
Pence in the pound
For every £1 donated, 76p was available to beat cancer.
In 2023/24, inflation increased our costs at a greater rate than our income. We also increased investment in our supporter-focused digital transformation programme, which will protect and grow our future income, and in our people. We don’t include the net income from our trading activities in this calculation, so the measure is comparable to charities that don't have a shop network.
You can read more on page 12 of our annual report and accounts.
Our income
In 2023/24, we raised £684m (2022/23: £719m).
- We raised £463m from our regular givers, corporate partnerships, gifts in Wills, events, giving platforms and social media challenges.
- We raised £134m through our network of shops, superstores and online marketplaces, achieving our best ever trading income.
- We raised £76m through licensing the intellectual property from our discoveries.
- We received £11m in investments and other income.
Meet Peter
When Peter was diagnosed with prostate cancer in 2009, he joined the Cancer Research UK-funded CHHiP clinical trial, which compared different ways of giving radiotherapy. He’s been cancer-free for almost 15 years and continues to raise money to beat cancer through the Cancer Research UK Wyre Forest Local Committee in Worcestershire. This year, the committee celebrated raising £1m.
Now, people talk more openly about cancer and can be more confident that there could be a positive outcome. And that’s thanks to research. It’s phenomenal progress but there’s still an awful lot of work to do.
Our chief executive and staff salaries
We know it’s important for you to know how we spend your donations. We’re transparent in all areas of our work.
Our chief executive, Michelle Mitchell OBE, was paid £276,900 base salary between 1 April 2023 and 31 March 2024.
As the world’s leading cancer charity, dedicated to saving and improving lives with our research, influence and information, we need to attract and retain high-performing people. The salaries we pay reflect individual responsibilities and performance, while ensuring the best use of your donations. We employ people to help us achieve our vision of a world where everybody lives longer, better lives, free from the fear of cancer.
For more information about staff pay, see pages 47 and 82–84 of our annual report and accounts.
Our previous annual reports
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Our annual supporter update
Your support has powered another year of life-saving research to beat cancer. Learn more about the progress you’ve made possible in 2023/24.
Get involved
Whether you fundraise, volunteer or pledge a gift in your Will, join our collective effort to help beat cancer.
Help shape our work
We actively involve people affected by cancer in our work, so we can beat the disease while meeting the needs of patients and their families.