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← Pancreatic Cancer UK

2024-03-31-accounts

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Annual Report and Financial Statements for the year ended 31st March 2024
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Annual Report and Financial Statements for the year ended 31[st] March 2024

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Annual Report and Financial Statements for the year ended 31st March 2024

Contents

Contents

Doubling Introduction our income 04 36 Objective 1: Transforming our ways Earlier and of working faster diagnosis 08 42 Objective 2: Structure, Accelerate governance and treatment 16 breakthroughs 44 management Objective 3: Financial Good Care Review Everywhere 22 50 Independent Objective 4: Auditor’s Better Quality of Life 30 Report 55

Vision

Our vision is a world where everyone with pancreatic cancer survives to live long and well.

Mission

We won’t stop until we find the breakthroughs that will give more hope and save lives.

Behaviours

Courageous

To be a driving force for change, we must have courage. So, courage is at the core of everything we do. We have drive, strong will, tenacity and an unbreakable spirit.

Collaborative

We are a supportive and empowering community, that works together to find solutions to any challenge we might meet.

Compassionate

People are at the heart of what we do. People who are dealing with the biggest challenge of their lives. So we show compassion, at all times.

Pancreatic cancer needs more

For too long, pancreatic cancer has been overlooked, underfunded and left behind. In the UK, pancreatic cancer receives just 3% of the total research budget. As a result, it’s still too difficult to diagnose and treat. More than half of people with pancreatic cancer die within three months of diagnosis.

Families have been left with only hope to hold onto. But, since 2006, we have worked tirelessly to change this. And, we have seen great progress in recent years. Our challenge is to make sure this progress not only persists but accelerates.

We need the world to give this disease the attention – and, above all, the action–it demands.

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Annual Report and Financial Statements for the year ended 31st March 2024

Introduction

Introduction

Firstly, thank you to all our supporters. Your extraordinary contributions of time, effort and generous donations have made 2023/24 a massive success. You’re giving people affected by pancreatic cancer, like Bryony featured on the front cover, more than hope.

Shockingly, pancreatic cancer is still tough to diagnose, treat and survive. Years of being overlooked, underfunded and left behind have given people affected by pancreatic cancer little more than hope. Throughout the UK, we need more research, more investment, and more concerted efforts to change this .

But real change is in sight. This year, the first year of our 2023–28 strategy, we made real strides for people affected by this tough disease. Thanks to you, an extraordinary £12.6 million was raised.

Diana Jupp, Chief Executive

Together, we’re funding more pancreatic cancer research, providing information and support to more people than ever, and improving access to the best treatment and care .

largest ever research investment – £2.69 million in grants and £1.1 million in research support – to bring about critical breakthroughs. By 2028, we’ll have invested at least £18 million in new research.

Eleanor Phillips, Chair

We continue to fight as hard as we can to improve access to Pancreatic Enzyme Replacement Therapy (PERT), which is so crucial to many people’s quality of life.

The year ahead

2024/25 promises to be an exciting year. We’re extremely proud to be the TCS London Marathon Charity of the Year for 2025. We’re one of the smallest charities ever to achieve this honour, reflecting the skill and determination of our staff and supporters.

The general election presents a huge opportunity for the next UK government to transform the future of pancreatic cancer. That’s why we launched our new Demand Survival Now campaign in March 2024, calling for a huge scaling up of investment in pancreatic cancer research, getting everyone diagnosed within 21 days and doubling the number of people who access treatment within 21 days of diagnosis. We’ll keep up the pressure until that happens.

We’ll step up another gear to provide more than hope for people with pancreatic cancer. We’ll further increase our research funding, expand our support services and drive access to better diagnostics, treatment and care. We’ll continue to work with global experts and be active in global pancreatic cancer coalitions. To transform our impact and effectiveness, we’ll continue to strengthen our incredible staff team and will include the voices of people with lived experience of pancreatic cancer throughout our work.

The pancreatic cancer community is diverse and vibrant. We welcome everyone. Together, we’ll achieve our mission to double survival by 2028 and our vision to ensure that everyone with pancreatic cancer lives long and well.

“Thank you so much for your support. We very much look forward to an exciting year ahead.”

Diana and Eleanor

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Annual Report and Financial Statements for the year ended 31st March 2024

Introduction

London Marathon charity of the year partnership

We’re delighted to be the TCS Charity of the Year for the London Marathon 2025.

Our London Marathon campaign, the Ultimate Test, is a huge opportunity to save lives by detecting pancreatic cancer at an earlier, treatable stage .

This matters because pancreatic cancer is the deadliest common cancer. More than half of people die within three months of diagnosis. And research into the disease is underfunded, leaving too many families \ i. 7 i" with only hope to hang on to. ia i, But people affected by pancreatic cancer y t need more than hope. By generating awareness, income and supporters on | y[“]

an unprecedented scale, being the TCS London Marathon Charity of the Year 2025 will help us to deliver more than hope.

This additional funding will accelerate development of a simple test – the ultimate test – to detect pancreatic cancer earlier. This is the key to survival .

With the work of our researchers, and people running, cheering and raising funds for us, we can save as many lives as runners in this great race.

This will be a team effort. Together, we’ll give it our all and we’ll cross that finish line.

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OBJECTIVE EARLIER AND FASTER 1 DIAGNOSIS

We will drive earlier and faster diagnosis so that everyone can be diagnosed early enough for treatment

Annual Report and Financial Statements for the year ended 31st March 2024

Objective

Our research in numbers

£2.69M invested in grants

£1

Every pound invested in our innovation and fellowship schemes over the last 10 years has resulted in

£8 of support from other funders

£1.1M invested in research support

£14.4M our total research spend to date

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Annual Report and Financial Statements for the year ended 31st March 2024

Objective 1

Sadly, most people are diagnosed with pancreatic cancer late. Achieving earlier and faster diagnosis will mean more people can have treatment to save or extend their life.

Driving scientific research into early detection by investing more than ever

This year we made our largest ever investment into detecting pancreatic cancer at the earliest possible stage, investing £999,307 in two large programmes of research. We are funding Professor Nigel Jamieson at the University of Glasgow to carry out research that aims to improve our understanding of what causes pancreatic cysts to develop into pancreatic cancer, so that high risk cysts can be identified and treated as soon as possible.

The second of the two projects will be led by Dr Vladamir Teif at the University of Essex and aims to develop a new blood test which uses genetic “clues” in the blood to identify pancreatic cancer at an early stage.

Giving health professionals the tools to spot symptoms earlier

Alongside laboratory tests, we continued supporting research into possible new tools and tests to help GPs detect pancreatic cancer earlier .

Professor George Hanna at Imperial College London is developing a breath test to quickly determine whether vague symptoms may be linked to pancreatic cancer. If his results are sufficiently promising, this work will move to the next stage with a clinical trial to further assess

the accuracy of this test starting early 2025.

At Imperial College London we’re funding Dr Patrick Kierkegaard’s research into identifying new biomarkers of early pancreatic cancer (signs in body fluids or tissues), which could inform early detection tests. To ensure that they’re used as soon as they become available, we’re developing a toolkit to help GPs use early detection tests .

Raising public awareness of signs and symptoms of pancreatic cancer

One major driver for late diagnosis is that many of pancreatic cancer symptoms are non-specific. Throughout the year, our social media channels, information materials, events, campaigns and media activities all increase public awareness of possible signs of pancreatic cancer.

Every autumn, these activities step up a gear for Pancreatic Awareness Month (November). In 2023/24 we enabled health professionals to raise awareness among the public . We shared 722 symptom awareness packs with hospitals, GP surgeries and pharmacies. This included packs for 50 cancer lead GPs attending a local NHS education event in South West England. We shared over 4,000 awareness materials for information stands and events. More than 1,000 of our awareness-raising leaflets were distributed in foodbank parcels in Hartlepool and Darlington.

Overall, during the year 312,573 people accessed our signs and symptoms information online . Our supporters helped to share symptom information far and wide via our social networks.

“I did a presentation on pancreatic cancer that has been playing during break times in factories. Each factory got one [symptom awareness] pack. They put posters in communal areas and got people talking about pancreatic cancer.”

Occupational health nurse

Monitoring people at higher risk

Unfortunately, evidence shows that some people have a higher risk of developing pancreatic cancer. These include some people with a family history of this cancer and some who become diabetic.

We’re working with national NHS teams to improve and implement ways to identify, monitor and assess people who are at higher risk . We are aiming to increase awareness of, and participation in, surveillance programmes while also funding research. This will help more people to spot any worrying changes early, so more can access earlier treatment, and live longer and better.

Ensuring health professionals refer more people with symptoms

We’re funding a University of Exeter project to determine which symptom combinations reflect the highest risk of developing pancreatic cancer.

This knowledge will help us to lobby for changes in national guidance around who GPs should test for possible pancreatic cancer. In the future, we believe this will lead to more pancreatic cancer referrals and people getting diagnosed earlier as a result.

Next steps

In the next year, we’ll work with NHS organisations and governments across the UK to establish and deliver surveillance programmes for people at higher risk of pancreatic cancer. We’ll influence guidance being developed or revised across the UK to improve people’s access to pancreatic cancer referrals. And we’ll put together plans for how to identify whether other groups are at higher risk of the disease as well.

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Objective

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Objective

OBJECTIVE ACCELERATE TREATMENT BREAKTHROUGHS We will accelerate treatment breakthroughs so that people can benefit from better and more effective treatments 2

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Objective 2

Pancreatic cancer is complex, so treatment options are often limited. We need faster treatment breakthroughs to give people with pancreatic cancer a longer, better quality, life.

Scaling up our investment into trial and treatment research

Overall we funded £2.69 million in grants and £1.1 million in research support in 2023/24. By driving increases in research investment, by 2028 we aim to double pancreatic cancer survival rates and save thousands of people’s lives each year.

Campaigning for more research investment

For decades, pancreatic cancer has been left behind. It receives just 3% of the UK cancer research budget. Research funding is key to saving lives, as it has been for other cancers. Now is the time to make this happen for pancreatic cancer. We won’t be ignored any longer.

We also launched one of our largest ever investments in treatment research – our new Interdisciplinary Treatment Grants . These grants will encourage researchers from different disciplines to collaborate to improve current treatments or find new approaches. We will announce successful projects in early 2025.

In June 2023, nearly 30,000 people signed the first phase of our Demand Survival Now petition , calling for greater research investment into pancreatic cancer. In March 2024, we launched phase two of this campaign. We’re calling on the next UK government – whichever political party rules – to commit at least £35 million a year for pancreatic cancer research over the next two decades , to bring about breakthroughs in early diagnosis and new treatments.

Ensuring the research community has the funding and tools they need

In May our second annual Discovery and Translational Research Forum

“He just enjoyed life. He had so many plans. I just burst into tears when the consultant showed us all the tumours. By the time you’re diagnosed, and the cancer’s already spread, it’s too late.”

Leah, whose dad died from pancreatic cancer 10 weeks after his diagnosis.

brought together over 75 pancreatic cancer researchers from across the

UK. Researchers from multiple disciplines discussed how to work together to overcome the challenges they face, shared ideas and formed new collaborations. This event also included our first early career focused session, supporting the future leaders in pancreatic cancer research.

Improving support for people experiencing pancreatic cancer

In recent years, supportive oncology (cancer prevention and care) developments have improved quality of life for people with many other forms of cancer. But specific improvements that would help people with pancreatic cancer are still less well understood.

We held a workshop for 35 researchers, clinicians and healthcare professionals from across the UK with a variety of specialisms to discuss ways to improve pancreatic cancer treatment and care, including physical and psychological side effects. Topics included nutrition, pain management and psychosocial support. This is the first step in helping to identify priority areas for future research investment and support.

Next steps

We’ll bring together the UK pancreatic cancer research and clinical community again to strengthen networks and knowledge-sharing. We’ll work with oncology researchers to act on recommendations to improve patient care. And we’ll award our first Interdisciplinary Treatment Grants.

“I found the ‘bigger picture’ element hugely useful. Taking a step back to appreciate the bigger challenges is important.”

Discovery and Translational Research Forum participant

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Objective 2

New research grants awarded in 2023/24

We fund cutting-edge research by world-class scientists to achieve breakthroughs in both pancreatic cancer diagnosis and treatment.

Scheme Lead researcher
and institution		 Project description Amount
awarded
Career Foundation
Fellowships
Continuation Funding		 Dr Beatriz Salvador
Barbero, Cardiff University		 Identifying early disease cells as potential
biomarkers of early pancreatic cancer
(continuation funding)		 £98,930
Career Foundation
Fellowships 2023/24		 Dr Shalini V Rao,
University of Cambridge		 Understanding the causes of tumour
growth in early pancreatic cancer		 £299,451
Dr Gianluca Mucciolo,
University of Cambridge		 Identifying new treatments for advanced
pancreatic cancer		 £259,940
Dr Robert Chuter,
The Christie NHS
Foundation Trust/
University of Manchester		 Improving radiotherapy for advanced
pancreatic cancer		 £152,052
2023/24 Research
Innovation Fund
Awards		 Dr Beatriz Salvador
Barbero, Cardiff University		 Identifying cells that initiate pancreatic
cancer to support early detection		 £99,396
Dr Eui Jung Moon,
University of Oxford		 Investigating the effect of FLASH radiation
on a pancreatic cancer model while
protecting normal tissue		 £100,000
Prof Nigel Jamieson,
University of Glasgow		 Understanding resistance to pancreatic
cancer treatment		 £100,000
Dr Leandro Castellano,
University of Sussex		 Identifying microRNA molecules that
regulate pancreatic cancer progression		 £97,309
Prof Pawel Swietach,
University of Oxford		 Targeting pancreatic cancer cells using pH-
sensitive technology		 £98,631
Dr Kofi Oppong,
Newcastle upon Tyne
Hospitals NHS Trust		 Do microbes in the gut and pancreas
contribute to the development and
outcomes of pancreatic cancer?		 £99,226
Dr Christopher
McConville, University
of Birmingham		 Developing an implantable device for
localised pancreatic cancer treatment		 £87,173
Dr Anguraj Sadanandam,
The Institute of
Cancer Research		 Decoding T cell receptor and
Developing a vaccine to treat pancreatic
neuroendocrine neoplasms		 £99,629
Prof Keith Roberts,
University of Birmingham		 Detecting pancreatic cancer recurrence
after surgery		 £97,719
Early Detection
Grants 2023/24		 Prof Nigel Jamieson,
University of Glasgow		 Improving our understanding of pancreatic
cysts to improve the early detection of
pancreatic cancer		 £499,417
Dr Vladimir Teif,
University of Essex		 Investigating liquid biopsies for the early
detection of pancreatic cancer		 £499,890
Total Research Grants £2,688,763

MY STORY

DR ROB CHUTER The Christie NHS Foundation Trust

which uses MRI scans to provide realtime information on patient anatomical changes, and more precise Proton Beam Therapy. Both of which are still in the early stages of being used in the UK for pancreatic cancer.

Dr Rob Chuter is a radiotherapy physicist and one of our Career Foundation Fellows. We fund his work to improve the precision and effectiveness of radiotherapy for people with pancreatic cancer, to ultimately improve outcomes.

This fellowship will allow him to compare these radiotherapy techniques to identify which will be best for which patients.”

“Survival rates for pancreatic cancer are some of the worst of all cancers. Early diagnosis is needed but we also need good treatment options. Radiotherapy has advanced a lot over the last five years with the introduction of the MR-Linac

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Objective

OBJECTIVE CARE 3 EVERYWHERE

We will ensure high-quality treatment and care is available everywhere so that everyone can access good care, wherever they live

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Objective Annual Report and Financial Statements for the year ended 31st March 2024

Objective 3

People with pancreatic cancer face a care postcode lottery. We’re doing everything we can to change this.

Achieving consensus on what good care looks like and making sure everyone can get this across the UK

People deserve more than hope when it comes to their care, which is why we continued pushing for health policy improvements.

In October 2023 we launched our Faster, Fairer, Funded report, following two years’ work with health professionals and people with lived experience of pancreatic cancer. Together, we identified what needs to change to give everyone the best chance to live longer and live well, wherever they live in the UK.

We held a landmark event as part of the launch to bring together people with the power to make change, and lobbied governments and NHS bodies to fund and roll out improvements in diagnosis, treatment and care. And we published a report outlining how to implement the pathway.

We’ve already made progress. We’re working with the Department of Health and NIPANC, a Northern Ireland charity working to improve pancreatic cancer outcomes, to deliver the pathway in Northern Ireland. And the Wales National Optimal Pathway for pancreatic cancer includes some of our recommendations. We’ve also secured a meeting with England’s Minister for Cancer to discuss our recommendations.

Inspiring more people to keep pancreatic cancer care high on the agenda

For too long, pancreatic cancer has been left behind. Our Don’t Write Me Off campaign called on governments across the UK to fund a Faster, Fairer, Funded pathway for people with pancreatic cancer. UK-wide, 37,257 people signed our petition.

We ran parliamentary events in Westminster, the Scottish Parliament and the Senedd. An impressive 3,890 supporters wrote to their parliamentarians about these events, resulting in over 150 politicians attending our campaign events and related debates.

Over 40 parliamentarians tabled questions, wrote letters or shared our campaign on social media. And 50 MPs signed our Early Day Motion – the most ever for a motion on pancreatic cancer. The media campaign also achieved significant coverage, raising public awareness.

Sadly, pancreatic cancer isn’t the only cancer with poor survival rates. We continued to campaign as part of the Less Survivable Cancers Taskforce to improve research, diagnosis and treatment for other difficult forms of cancer. Together, we held parliamentary events across the UK that were attended by more than 50 parliamentarians.

Our campaigning, policy and health improvement work in numbers

We invested

150 parliamentarians attended our Don’t Write Me Off campaign events

£2.3M in our campaigning work

3,890 of our supporters across the UK contacted their elected representative to call for change

37,257 people signed our Don’t Write Me Off campaign petition

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health professionals and people with lived experience across the UK have been bought together, since 2021, to understand the obstacles people face, and agree what needs to happen to improve diagnosis, treatment and care

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Objective

Providing training for health and care professionals to improve practice

We bridge the gap between pancreatic cancer research and clinical practice by providing healthcare professionals with specific knowledge relating to pancreatic cancer treatment and care.

In 2023/24 we held 14 virtual educational events on topics including managing symptoms, nutrition, pancreatic enzyme replacement therapy (PERT) and psychosocial support. Overall, 1,688 professionals attended our educational events. 93% said this increased their knowledge and understanding, making them better able to support patients.

“Another excellent event with knowledgeable speakers who provide useful real-world advice and guidance.”

Upper gastrointestinal and hepatopancreato-biliary (UGI/HPB) clinical nurse specialist

registry to collect data to support our research and campaigns.

We continued to push NHS bodies and governments across the UK to collect and share better data on pancreatic cancer. This is crucial in making the case for much-needed additional funding and better care.

Next steps

We’ll help to help deliver a faster, fairer, funded pathway for pancreatic cancer in Northern Ireland, and push for commitments to this in the other nations of the UK. In England, we’ll make the case for change ahead of and during the general election, which we expect to take place in 2024. We’ll also test elements of the pathway to prove the impact they could have if rolled out across the UK and work with local NHS systems to drive improvements.

We’ll increase our engagement with UKwide health professionals and will deliver more training. We plan to develop an online course on managing type 3c diabetes.

Our health professional training in numbers

1,775 healthcare professionals benefited from our training sessions and online courses

93% of health professionals said their knowledge and understanding of pancreatic cancer had increased as a result of our training

Using data to inform better care and support

To transform care, we need to have a better understanding of the experiences and views of people with pancreatic cancer . In 2023/24 we completed a pilot to gather more of this data through an app and asked a range of stakeholders about the app’s value to them. As a result, we’ll now be working on a more focused patient

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OBJECTIVE BETTER QUALITY OF LIFE 4

Objective

We will improve quality of life today so that everyone is supported, empowered and better able to manage their symptoms

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Objective 4

Taking more control of their treatment and reducing the impact of their symptoms can improve people’s physical and emotional health, and their quality of life.

Developing a wider range of services, tools and information

No one has to cope with pancreatic cancer alone – our information and support services and resources are here to help. These range from one-on-one email and telephone support from our specialist pancreatic cancer nurses to extensive online information and informal peer support sessions where people can meet others in a similar situation. Throughout this year, we reached 4,057 people through our specialist support services, information publications and emails, and sign ups to our pilot of our Medli app.

But we want to achieve more. In July we launched our Services Reach project , to explore how to benefit even more people through new and existing services.

To inform this, we conducted 45 in-depth interviews with people affected by pancreatic cancer and received 290 responses to surveys, including some from people who had never heard of us. And we recruited 5 volunteers with lived experience of pancreatic cancer (see Carla’s story on page 28). Their insights and 19 user testers are already helping us to develop and adapt services. We want to offer more innovative, diverse and accessible services so that everyone can get the information, support and tools they need, in the way they want .

We launched a series of videos for newly diagnosed people and their families. These provide accessible and engaging summaries of key information, to help people at an overwhelming time.

Within the first few months, these videos attracted 9,250 views.

“It’s clear there has been a great deal of care, thought and knowledge put into your emails, website and downloadable information, and everything is in plain English.”

Anonymous

In 2023/24, our new, easy-to-use clinical trial finder enabled 9,793 people to search for all open pancreatic cancer trials in the UK, making this information readily available in one place for the first time. It helps people to identify trials that might suit them and inform discussions with clinicians.

“I would have felt abandoned without [Support Line nurse] Di. I could ask her anything. There would have been no replacement enzyme tablets without Di. There wouldn’t have been any palliative care, the chemo dose would have been wrong.”

Jess

Our successful series of webinars for people affected by pancreatic cancer included a new one on emotional wellbeing. 90% of participants said they would recommend this to others.

Our specialist pancreatic cancer nurses offer personalised telephone and email support to people through our free Support Line. 100% of people

who contacted the Support Line for themselves said this helped them to ask questions of their medical team. Overall, Support Line users rated the information and support they received as 4.88 out of 5. This year we supported 2,177 people via the Support Line, 11% more than last year. On average, each person who contacted our nurses had 2.5 calls or emails with them, receiving support, information and guidance.

Providing more opportunities for personalised and peer support

Our information and support emails supported 937 patients, families and friends this year. The emails provide essential information in bite-sized chunks and signpost people to more detail if they want. This free service is tailored to the recipient – pancreatic cancer patients receive different emails to their loved ones. Over several weeks, these emails provide regular information on treatment options, how to manage symptoms, and where to access care and support.

Next steps

We’ll expand our series of information videos, focusing on symptom management and end of life care. To increase the reach of our overall services, we’ll test and evaluate possible new services with people affected by pancreatic cancer.

“The emails have been a lifeline for me and my partner. The information has been crucial in helping me understand what I am facing and in making decisions about treatment. You have been there when no one else has.”

Seonaid from Shropshire

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My story

MY STORY

CARLA From Norfolk

Carla’s husband Andy was diagnosed with pancreatic cancer in April 2022. The couple have used several of our information and support services. Carla is a Lived Experience Volunteer, helping us to increase the quality and reach of our services.

“Pancreatic Cancer UK have been the only real support we’ve had. It’s wonderful support but you shouldn’t have to seek it out. The thought of making the services better was a great prospect. The project might not make a huge difference to us, but it will to others.

My role is to give the point of view of the person with lived experience. Nobody knows what’s needed as well as us. It’s been a good opportunity to get our voices heard.

My hope is that people [living with pancreatic cancer] feel supported, have all the information they need to make informed decisions [and] have the care they need.”

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My story

Our services in numbers

We invested £2.5M

in our information and support services

Our specialist pancreatic cancer nurses responded to: 5,628 2,177 calls emails

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To develop new and existing support services

45 in-depth interviews were conducted

5 volunteers with lived experience of pancreatic cancer joined our project team

For people affected by pancreatic cancer we held:

43 3 online webinars support sessions

932,523 937 people people signed up accessed to receive our our online information and information support emails

289 people accessed these services overall 9,793 people used our clinical trial finder

290 people completed surveys and

19 were involved in user testing

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Annual Report and Financial Statements for the year ended 31st March 2024

Doubling our income

Doubling our income from 2021/22 to 2027/28

To achieve our objectives, we’re determined to double our annual income by 2028. We made good progress in 2023/24 raising £12.6m compared to £11.5m in 2022/23, thanks to our thousands of incredible supporters.

Personal motivations for supporting our work

Many of our supporters know someone affected by pancreatic cancer and want to turn the odds around. Since 2022, Fugro employees have raised £87,500 in

support of their colleague Charles who is receiving pancreatic cancer treatment. Ivor, a remarkable pancreatic cancer survivor, has so far raised over £6,000 through Ants in His Pants, his book of limericks.

Supporter fundraising

People throughout the UK raised funds for our work, and awareness of pancreatic cancer.

In July, over 2,500 people joined in the Big Step Forward , walking a distance and route of their choice. We raised £2.3 million from other race events , including the TCS London Marathon and the Great North Run. Over 160 of our volunteers supported our runners at cheer points around the UK.

“I want to help find a way of diagnosing pancreatic cancer earlier and a cure, but also to help those like me who live with the life-long effects of having part of the pancreas removed.”

Together, 8,814 people raised impressive amounts through our Virtual Challenge Events . These included walking or running 1 kilometre or mile for each day in a given month. An impressive 1,262 supporters organised their own fundraising activities , from bake sales to danceathons and workplace fundraising initiatives.

Christy, a pancreatic cancer survivor who organised a fundraising ball

Poignantly, many people fundraise in memory of someone. Nicola and other people who loved Danielle have raised

over £35,000 to avoid others having to go through her experience. Tragically Danielle died in 2023, aged just 33, but her memory lives on. To mark what would have been her sister Claire’s 60th birthday, Kathy got 60 people to raise £6,000 by walking 600,000 steps . Our supporter care team helped Kathy create this fitting tribute.

Pancreatic Cancer Awareness Month

Over 2,400 people joined fundraising initiatives during Pancreatic Cancer Awareness Month (November). Many took on Challenge 24 by walking, jogging or cycling 24 miles that month. Others completed their own 24-themed challenge.

We continued our tradition of turning St Pancras station into St Pancreas for an evening, collecting donations from the public while the fabulous Popchoir sang.

We collaborated with Pancreatic Cancer Action and PLANETS on Purple Lights, our annual illumination of buildings or landmarks to raise awareness during Pancreatic Cancer Awareness Month and World Pancreatic Cancer Day. People affected by pancreatic cancer made 167 landmarks and homes across the UK turn purple , including London’s BT Tower, Cardiff’s Castell Coch, Edinburgh Castle and Belfast City Hall.

Celebrity support and other fundraising initiatives

Our Christmas Carol Concert enabled our supporters to get together and enjoy festive readings from our celebrity ambassadors and supporters Richard Armitage, Adil Ray, Barbara Flynn,Ben Mundy and Sabrina Gidda .

Legacy giving

Gifts in people’s wills are vital for us to achieve our vision of everyone with pancreatic cancer surviving to live long and well . We’re extremely grateful for all gifts of this kind.

“Pancreatic cancer is a condition desperately in need of research to find new and better treatments. Hopefully my dad’s legacy will be able to help achieve this, and ultimately benefit others. Dad leaves us all with a legacy of love and hope.”

Alexi, whose father Dr Charlie Martin-Bates left us a gift in his will

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My story

MY STORY

SHARON From South Shields

After experiencing digestive issues, back pain and then jaundice, Sharon’s father Geoff was diagnosed with pancreatic cancer in 2018.

“Tragically, Dad could only take one round of chemo, in part due to setbacks which delayed treatment. In July 2019, he died. He was only 57 and missed meeting his first grandchild [Sharon’s daughter Erin] by 6 weeks.

Each year we do a different route for The Big Step Forward, which honours Dad. Last year, we walked from the home of Dad’s football team, Sunderland. Each walk has been so memorable and enjoyable. Erin

could take part as well. That’s definitely one of my favourite things about The Big Step Forward.

Taking part in The Big Step Forward is so rewarding, and the community is so lovely. I would say to anyone considering taking part, just do it.”

Through The Big Step Forward, you can transform the future for people affected by pancreatic cancer by walking a route or distance of your choice, coming together virtually with people across the UK on the same day.

Ivor, pancreatic cancer survivor and fundraiser '

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My story

Our reach in numbers

83,970 new supporters or campaigners joined us this year

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Our media coverage achieved a potential reach of 2.6BN people

Thank you

Heartfelt thanks to everyone who supports our work in any way. We would particularly like to thank:

Our social channels received 205,463 likes, comments clicks and shares, and increase of 17% on last year

1,001 people with lived experience of pancreatic cancer co-designed or contributed to our work across 112 participation activities

Our social media following grew by 13% over the year, reaching over 100,000 followers

Our website had 2,154,799 visits

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Annual Report and Financial Statements for the year ended 31st March 2024

Transforming our ways of working

Transforming our ways of working

lived experiences of pancreatic cancer lead

To give people affected by

our campaigns as these personal stories are compelling for decision-makers and potential supporters alike. People directly affected by pancreatic cancer help to steer our work on key issues , including the Optimal Care Pathway, our service transformation and the research we fund.

pancreatic cancer more than hope, we’re transforming the ways we work. By becoming as innovative, impactful and cost-effective as possible, we will achieve our vision of a world where people with pancreatic cancer live long and well.

In addition, this year, we worked with 116 diverse people to review and steer our brand to help us reach and galvanise more people . They included people with lived experience of pancreatic cancer, existing supporters, healthcare professionals, researchers and people who weren’t previously aware of us.

Throughout our charity, we’re focused on solving the most pressing challenges. These include reaching people earlier, deepening engagement with people, and optimising our income streams and efficiency to fund as much work as possible.

Putting people affected by pancreatic cancer at the heart of our work

Increasing our reach and awareness

Raising awareness of pancreatic cancer and our work is the first step towards achieving our objectives.

Achieving meaningful change requires understanding and engaging with our diverse audiences, including families affected by pancreatic cancer, healthcare professionals, researchers, powerholders and the general public. This year, we have furthered our work in better understanding our audiences by investing in platforms and tools to uncover data and insights that will help us to deliver exceptional, tailored experiences for everyone who comes into contact with us.

In 2023/24 our campaigns made national news headlines throughout the UK, a potential reach of 2.6 billion people. Our Don’t Write Me Off campaign attracted more than 170 media stories including in the Daily Telegraph, Metro and on ITV.

Throughout the UK, local media hailed the efforts of our amazing fundraisers . Many supporters attracted media coverage thanks to our press release packs and media team support, helping to raise awareness and turbocharge their fundraising.

We exist to transform outcomes for people affected by pancreatic cancer, so our research funding, campaigns and services all reflect their needs. People’s

We continued to use our social media platforms to share symptom awareness, celebrate fundraising achievements, amplify our campaigning voice and publicise our services.

Supporting our workforce

Our staff are dedicated, hardworking, highperforming and focused. The work we do takes skill and experience as well as energy and resilience, and we are committed to attracting and retaining the right people to help deliver our strategic aims. This year we’ve continued to provide a positive and inclusive working environment, supporting their wellbeing through challenging times, due to external environmental factors and enabling them to perform at the highest level.

Our social media following grew by 15% over the year, reaching 102,945 followers . This shows the strength of our incredible online community. We’re now active on seven social media platforms, including TikTok and Threads, reaching a broader spectrum of people than ever .

We redeveloped our website, giving 1.2 million people easy access to the information they needed when they needed it.

Through cultivating a positive culture and applying the same values to our staff as we apply to our work and the people we support; we’ve seen staff attrition drop to 11.9% and an increase in applicants for advertised roles.

All of this work also helped to continue expanding the pancreatic cancer community, including our brilliant supporters, volunteers, healthcare professionals and partner organisations.

We will continue to invest in our people and maintain an engaged workforce as this is integral for us to deliver our future goals.

Throughout the year, we worked with other charities through alliances and coalitions to raise the profile of pancreatic cancer in government and NHS policy conversations. These included including One Cancer Voice, Cancer 52, Scottish Cancer Coalition, Wales Cancer Alliance and National Voices. We also chair the Less Survivable Cancers Taskforce .

Purple Lights for pancreatic cancer, November 2023

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Annual Report and Financial Statements for the year ended 31st March 2024

Structure, governance and management

Structure, Governance and Management

(SAB) that helps direct the work of the charity by providing expert advice to the Chief Executive Officer (CEO) and Trustees on:

Organisational structure and governance

The organisation is a charitable company limited by guarantee, incorporated on 19th December 2005 and registered as a charity on 13th January 2006. The company was established under a Memorandum of Association which established the powers and objects of the charitable company and is governed under its Articles of Association of the same date.

The Board comprises seven Trustees, who are also directors of the company. The Trustees who served during the period and to the date of signing this report are listed on page 78. The Board meets at least four times a year. The Trustee Board takes overall responsibility for ensuring that the financial, legal and contractual responsibilities of the charity are met, and that there are satisfactory systems of financial and other controls. All decisions are currently ratified by the Board. An independent director also sits on the Board of the Trading entity.

The SAB also provides advice and support for the charity on reporting and dissemination of research results.

The day-to-day management of the charity is delegated to the CEO Diana Jupp who works with the Senior Management Team; Anna Jewell, Director of Services Research and Information, Sue Collins, Director of Fundraising & Marketing, Sherie Holding, Director of People and Culture, Joan Prendergast, Director of Finance, Planning and Resources, and Julie Roberts, Director of Transformation Programmes along with a team of staff to fulfil the charity’s objectives.

The Trustees have undertaken a board effectiveness self-assessment in May 2024. This assessment is based on standards informed by the Nolan Principles of Public Life: selflessness, integrity, objectivity, accountability, openness, honesty and leadership and the Charity Governance Code.

A number of Trustees, including the Chair and Treasurer, are appointed to the Finance, Risk and Planning Committee which reviews the charity’s financial and audit reports, budgets and plans on a quarterly basis ahead of making recommendations to the full Board. This

The charity has a Scientific Advisory Board

committee is also responsible for ensuring the charity’s risks are effectively managed and that the charity is compliant with all relevant regulations.

A People and Culture Committee is in place to give oversight to policies and procedures relating to our people – staff, volunteers and involvement participants. The Trustees also have a Remuneration Sub-committee which annually assesses staff salaries, including key management personnel against the charity’s approved Pay Policy. All salaries have been benchmarked and are monitored to ensure they are in line with the rest of the charity sector.

Trustee induction and development

All new full and co-opted Trustees are inducted by the Chief Executive and the current Board in line with the charity’s induction policy. All Trustees have a periodic one-to-one review with the Chair at which specific development

or training needs are identified. All Trustees are encouraged to attend relevant conferences and to request any support relevant to their position in the organisation. Over the course of 2023/24 Trustees have continued to actively support the Senior Leadership Team.

Related Parties

A wholly owned trading subsidiary was opened on 31st March 2022, Pancreatic Cancer UK Trading Limited. The trading subsidiary is used to manage retail activity, licensing and future trading activity. The directors of the company are also charity trustees and under the company’s Articles are empowered to manage the business of the company. An independent director has been appointed.

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Annual Report and Financial Statements for the year ended 31st March 2024

Structure, governance and management

Risk statement

The Trustees have considered the major risks to which the charity may be exposed. The principal risks that we face in the charity are:

==> picture [525 x 23] intentionally omitted <==

----- Start of picture text -----
Risk Mitigations
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Risk Mitigations
That we may not meet our annual
income targets and not be able to
resource our planned activities.		 To this end the Charity develops an annual
budget in support of its operational plan which
is approved by Trustees. This forms the basis for
fnancial monitoring. Management accounts and
fnancial forecasts are reviewed monthly by the
Treasurer and Chair, and accounts are reviewed
by the Finance, Risk and Planning Committee
ahead of the full Board of Trustees on a quarterly
basis. The Charity also holds suffcient reserves
to off-set income risks.
That we may not optimise the
opportunity of the London Marathon
Charity of the Year partnership, or
that we may divert resources from
other critical areas of activity.		 A specialist project team has been established
to ensure oversight and enable optimisation of
this fantastic opportunity, and careful planning
has enabled investment in key areas needed to
ensure work continues.
That the impact of the continued
cost-of-living crisis and global
conficts will materially reduce
the charity’s annual income, and
continue to increase costs.		 The charity’s budgeting and monitoring process
in (b) above mitigates this risk, together with the
charity’s level of reserves.
That the current pressures on the
NHS may continue to adversely
impact people affected by
pancreatic cancer.		 The charity continues to work with health care
professionals, government and policy makers to
identify key areas of change as well as funding
research to support diagnosis, treatment and
care.
That our comments or opinions
might be understood to be offering
medical or other advice which we
are not qualifed to provide.		 The charity notes that it does not and cannot
offer “advice” and therefore takes extreme care
with the language used in its communications,
most especially on its website to avoid any
possible misunderstanding in this regard.
That the level of activity alongside
the external social and economic
environment may adversely impact
on staff health and wellbeing.		 We have increased investment in staff wellbeing
and increased staff resource to enable
management of critical projects in the year
ahead.

The charity has developed a Risk Management Framework which indicates the risk appetite and risk tolerance across a range of categories. The charity also has a Risk Register from which the top ten risks are reviewed by the Board at each Board meeting. New or emerging risks are escalated to the Board as they are identified in the intervening periods.

Public benefit

Our approach to fundraising

The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Commission in determining the activities undertaken by the charity. The Trustees’ Report section on Objectives, Activities and Performance on pages 8 to 45 sets out how the charity addresses the public benefit requirement, and this is also explicit in the Charity’s Aim set out below.

As a supporter-focused charity, we recognise that the progress we make for people affected by pancreatic cancer would not be possible without the passion and generosity of our supporters. That is why our Fundraising Promise remains at the heart of how we fundraise. If you choose to support us, you can be certain that we will:

Charity’s aim

Our vision for the future is a world where everyone with pancreatic cancer survives • to live long and well. To do this, we lead the fight against pancreatic cancer, giving • more than hope. Pancreatic cancer is tough to diagnose, tough to treat, tough to research and tough to survive, and for too • long this disease has been sidelined. We want to make sure that everyone affected by it gets the help they need.

never share or sell your details to other charities or third parties for their own marketing purposes 

  - comply with all relevant data protection laws

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Annual Report and Financial Statements for the year ended 31st March 2024

Structure, governance and management

Read our Fundraising Promise in full. We are registered with the regulatory body for fundraising in the UK, the Fundraising Regulator, and pay an annual levy to support its work. We adhere to the standards outlined in the regulator’s Code of Fundraising Practice (the code). We fundraise in diverse ways to tell as many people as possible about our work. Our fundraising activities currently include direct mail, email marketing, sponsored running, challenge and community-led events, and cash collections. We also host fundraising gala dinners and other social activities. We regularly review our fundraising campaigns to ensure they fully comply with the code, do not place an unreasonable intrusion on anyone’s privacy or put undue pressure on them to donate. Our fundraising activities are also closely monitored by the Finance, Risk and Planning Committee, which reports to our Board of Trustees.

We work with carefully selected partners to deliver some fundraising activities. Before doing so, we ensure they are fully compliant with the code and all applicable laws, including those on data protection. We also monitor their activities through regular quality assurance checks to ensure they treat our supporters fairly and have the necessary safeguards in place to protect vulnerable people. We encourage and learn from feedback from our supporters. In accordance with disclosure guidance from the Fundraising Regulator, we received 21 complaints relating to our fundraising activity in 2023/24, (2022/23: 32). All complaints are reviewed carefully and where appropriate, action is taken to resolve.

Our people

As with the last few years our organisation continues growing. We recognise that the environment in which we exist is constantly evolving and we have an

obligation to ensure that we are keeping pace with technologies and modern approaches to attracting and retaining our people. This becomes more important in this present economic climate and as we welcome younger people into the workforce and at the other end of the scale people are working longer. The ‘war on talent’ has subsided but the lasting effects has created substantive change on the labour marketplace with people asking for more flexibility, career development and motivated to stay or join an organisation based on it’s approach to ESG (Environmental, Social & Governance), and a migration from the charity sector to the commercial sector.

The impact of having an economic and financially unstable environment impacts our staff in the same ways as any other organisation, and we continue to provide support in different ways for them, ensuring that their wellbeing as well as compensating them fairly remains at the forefront of our efforts. We did not provide an additional cost-of-living bonus this last year, as we felt that we had increased salaries and we were investing in other activities to support our staff.

Our headcount was 111 as of 31 March 2024, (94 as at 31 March 2023), with 1 member of staff made redundant during the year following a restructure. We continue to be a high performing organisation and have delivered some transformative pieces of work across parts of the organisation, it has been a big year for us as we launched into our 5 year strategy. The need to continue and deliver this work is built on having a loyal, motivated and committed staff and us growing and developing them so that we can become more effective and efficient in the way that we deliver our work and accelerate change in the world of Pancreatic Cancer. Our staff are integral to our results and having the skill and expertise to fuel innovation and high-level service delivery is something we pride ourselves on cultivating.

But we need to do more. There is always scope for improvement, for us to be more efficient and impactful in our work, and to create a better environment for our people to do their best work. This year we will continue on growing with caution, building upon our already great culture and inspiring our people to take on those big challenges we set ourselves with our ambitious 5 year strategy. We have already started looking at transforming the way we work, and with our new brand and brand behaviours and values, we are intent on brining that to life both internally and externally to drive better outcomes for people diagnosed with Pancreatic Cancer.

Our employees are incredibly motivated about our cause, and we have seen our attrition drop to 11.9% this year, indicating that people want to stay with us, but we are still going to check this out with them so we are doing an organisational satisfaction survey this year. We know that treating staff fairly and compensating them accordingly for their efforts is the right thing to do, so we continue to monitor pay and benefits equity and we maintain an approach that supports our staff with their wellbeing, mental health, career development and progression and non-financial benefits. Our approach to flexible and hybrid working continues progress without any major challenges and has aided in our recruitment, and we continue to look at ways in which we can operate in a more inclusive manner, having introduced a EDIB calendar to celebrate different momentous dates during the year and raise awareness, and we continue to link our work to our EDIB vision and principles. We have just undertaken an EDIB audit which will set us on the path to a longer 5 year strategy of change, and within our Services, Research & Influencing Directorate there is a specific focus looking at the impact of social and financial deprivation for people affected by pancreatic cancer.

Also coming this year, we will invest in developing our managers, as well as looking at additional learning & development opportunities.

Our people are not just paid staff, but also volunteers and those who support us through various different activities such as campaigning, lay reviewers, advisory panels, supporting others affected by pancreatic cancer. As it is equally important that we recognise and value the contribution made by this group of people and provide opportunities for those who want to support us in other ways aside from raising funds, we undertook an audit of this work during the “year” to help us to define areas where we could improve, and find different ways to engage people with our organisation. We are already seeing evidence of a change in our approach in our newer programmes of work, and we are growing the team that supports this work during this next year. We know that those who give us their energy, time and experience get something back from this work and we want to increase the levels of participation within our organisation, during this next year, but also have a clear Volunteering approach and plan.

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49

Annual Report and Financial Statements for the year ended 31st March 2024

Financial review

Financial Review

grants amounting to £2,688,643 (2022/23 £2,211,214) and paid £1,136,002 (2022/23 £749,711) in cash in respect of grant awards made in the year and earlier. The charity has ongoing grant funding commitments of £5,218,655 shown as a creditor on our balance sheet and has designated funds to support the new research strategy which sees considerable investment in research over the five years of the strategy.

Total income for the year was £12,623,403 (2022/23: £11,497,561), a record year for the charity. Despite the significant challenges that continue to impact the charity sector, our fundraising team were able to continue to grow multiple income streams, with events, legacies and individual giving performing better than the prior year.

Even though we have increased our funds, we nevertheless still need to raise more income to substantially grow our future funding for pancreatic cancer research and invest in building pancreatic cancer data and digital resources, and to improve care and treatment of this terrible disease. Costs of generating income were £4,446,924 for the year (2022/23: £4,026,830).

In addition to direct research grants, we invested a further £1,089,306 (2022/23 £944,560) in managing our research programme, including working with research institutions and other funders, gathering data, promoting grant investment opportunities, working with our Scientific Advisory Board, and coordinating reviews ahead of making grant awards for following years. Proposals for new grants undergo a robust process of review before being awarded, which can take over a year, and grant awards normally have a duration of 1-3 years.

The increase in cost is the result of the increased level of fundraising activity. In addition, we have been continuing to invest in building capacity and efficiency for longer term income growth and sustainability. These costs represented 35% of our total income for the year and 34% of our total expenditure.

Our services and support costs

The trading subsidiary experienced challenges with increasing costs of fulfilment and decreasing sales, resulting in a loss. Plans have been put in place to remedy this in the coming year.

In addition to providing vital research funding, we have also continued to invest in increasing the impact and effectiveness of our support services. We have continued to develop the support information we provide and the continued use of digital platforms continues to increase the services we can provide for patients and carers. During the year, we spent £2,482,142 (2022/23 £2,014,623) on delivering our vital support and information services.

Research grants

New grants are charged to the accounts in full at the date they are awarded, which is when the charity is committed to payment for the duration of the grant. During 2023/24, the charity awarded new

Campaigning and awareness

We continue to increase our campaigning and profile-raising work, with expenditure during the year of £2,336,095 (2022/23 £1,842,104).

Reserves

Total group reserves decreased by £419,707 during the year from £6,763,355 at the start of the year to £6,343,648 at 31 March 2024. Reserves are split between restricted funds, those given for specific purposes, designated funds, those allocated by Trustees to underpin or invest in specific areas, and general funds, which are split into operating contingency and unrestricted reserves. A breakdown funds is given below.

Restricted funds

At 31 March 2024 £1,373,223 was held in restricted funds (2022/23 £935,818), £1,267,270 of which is restricted to research projects as per donors wishes. The increase in restricted funds is a result of the increase in research projects committed to during the year, and subsequent donor support.

Designated funds

At 31 March 2024 £3,373,724 was held in designated funds (2022/23 £3,831,333). £2,945,383 was held for research as at 31 March 2024 (2022/23 £3,294,332), with £1,148,949 having been spent during the year and a further £800,000 designated by Trustees. Trustees have also designated funds to support infrastructure development. £428,340 was held for infrastructure support as at 31 March 2024 (2022/23 £537,000), with £158,660 having been spent during the year and a further £50,000 designated by Trustees.

General funds

The Trustees undertook a review of the charity’s reserves policy during the year and have determined a level of free reserves to be held sufficient to provide an operating cost contingency of £1,550,000 (2022/23 £1,450,000) which would fund three months’ salaries, 12 months’ rent and approximately one month of all other costs. In addition, £171,462 (2022/23 £357,699) was held in fixed assets, and a further £252,202 (2022/23 £188,505) is held as a free reserve to underwrite risks in income generation.

Utilisation of the charity’s reserves at 31st March 2024 is summarised below:

Restricted Funds £1,373,223
Designated funds £3,373,724
General funds made up of:
Operating contingency £46,701
Fixed Assets £1,550,000
Other £252,202
Total Reserves £6,343,648

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51

Annual Report and Financial Statements for the year ended 31st March 2024

Financial review

2005 and the Charity Accounts (Scotland) Regulations 2006 (as amended).

Responsibilities of the Trustees

They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees, who are also directors of Pancreatic Cancer UK for the purposes of company law, are responsible for preparing the Trustees’ Report, incorporating the strategic report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company and charity law requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charitable company including income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The Trustees refer to the Charity Commission’s guidance on public benefit when reviewing the charities aims and objectives and planning for the future.

Each of the persons who are Trustees at the time when this Trustees’ Report, incorporating strategic report is approved has confirmed that:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act

Signed on behalf of the Board of Trustees by:

Eleanor Phillips, Chair of Board of Trustees

Dated: 27 June 2024

Independent Auditors Report

to the members and trustees of Pancreatic Cancer UK for the year ended 31[st] March 2024

Opinion

Basis for opinion

We have audited the financial statements of Pancreatic Cancer UK for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Parent Charity Balance Sheet, the Consolidated Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report.

We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

In our opinion, the financial statements:

· give a true and fair view of the state of the group’s and of the parent charitable company’s affairs as at 31 March 2024 and of the group’s and parent charitable company’s net movement in funds, including the income and expenditure, for the year then ended;

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue

· have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

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Annual Report and Financial Statements for the year ended 31st March 2024

Independent auditors report

as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report which incorporates the strategic report and the directors’ report).

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 require us to report to you if, in our opinion:

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on page 54, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the group’s and the parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion.

Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of noncompliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the group and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to Charity and Company law, and we considered the extent to which noncompliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, the Charities Act 2011, fundraising regulations and payroll taxes.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to income recognition. Audit procedures performed by the engagement team included:

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Annual Report and Financial Statements for the year ended 31st March 2024

Independent auditors report

with laws and regulation and fraud;

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of noncompliance.

The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/ auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an Auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Jane Askew, an

Jane Askew, Senior Statutory Auditor

Date: 2 9 Ju ly 2024

For and on behalf of Haysmacintyre LLP, Statutory Auditor

10 Queen Street Place, London, EC4R 1AG

Financial Statements

Financial
Statements
Consolidated statement of financial activities For the
year ended 31st March 2024
Notes
Unrestricted
Funds
2024
£
Restricted
Funds
2024
£
Total
2024
£
Total
2023
£
INCOME FROM:
Donations and legacies
2a
10,193,897
2,174,428
12,368,325
11,136,023
~~Cn~~
Other tradingactivities:
Merchandise income
205,078
-
205,078
353,271
Investments
50,000
-
50,000
8,267
Total income
10,448,975
2,174,428
12,623,403
11,497,561
EXPENDITURE ON:
Raisingfunds
3
4,446,924
-
4,446,924 4,026,830
Charitable activities
Information and support
2,429,141
53,001
2,482,142
2,014,623
Campaigningand awareness
2,271,163
64,932
2,336,095
1,842,104
Research
5
2,238,255
1,539,694
3,777,949
3,155,774
Total expenditure
2b
11,385,483
1,657,627
13,043,110 11,039,331
Net (expenditure) income
2a
(936,508)
516,801
(419,707)
458,230
Funds openingbalance
5,827,537
935,818
6,763,355
6,305,125
Transfers between funds
79,396
(79,396)
-
-
Funds closing balance
12
4,970,425
1,373,223
6,343,648 6,763,355
~~re~~
~~a~~

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above.

The notes on pages 62 to 78 form part of these financial statements.

Full comparative figures for the year to 31 March 2023 are shown in note 16.

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16

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Annual Report and Financial Statements for the year ended 31st March 2024

Financial statements

Balance Sheet at 31 March 2024

CONSOLIDATED CONSOLIDATED CHARITY
NOTES 2024
£		 2023
£		 2024
£
2023
£
FIXED ASSETS
Tangible assets 7 171,462 357,699 171,462
357,699
Investments 60,000 60,000 60,000
60,000
CURRENT ASSETS
Debtors
9
1,150,250
1,098,896
1,312,178
1,220,184
Stock
8
87,339
98,461
-
-
Cash and cash equivalents
11,187,061
9,811,875
11,180,162
9,708,526
~~OT~~
12,424,650 11,009,232 12,492,340
10,928,710
CREDITORS:amounts falling due
within oneyear
NET CURRENT ASSETS
CREDITORS:amounts falling due
after oneyear		 10
10		 (4,117,122)
8,307,528
(2,195,340)		 (2,835,550)
8,173,682
(1,828,026)		 (4,095,002)
(2,740,437)
8,397,338
8,188,273
(2,195,340)
(1,828,026)
NET ASSETS 6,343,648 6,763,355 6,433,458
6,777,946
FUNDS
Unrestricted funds
General funds 12 1,596,701 1,996,204 1,686,511
2,010,795
Designated funds 12 3,373,724 3,831,333 3,373,724
3,831,333
Restricted funds
TOTAL FUNDS		 12 1,373,223
6,343,648		 935,818
6,763,355		 1,373,223
935,818
6,433,458
6,777,946

Approved by the Trustees and authorised for their issue on 27 June 2024 and signed on their behalf by:

Eleanor Phillips

Chair of Trustees

The notes on pages 62 to 78 form part of these financial statements.

Consolidated statement of cash flows at 31 M arch 2024

2024 2023
NOTE £ £
Cash used in operating activities A 1,364,821 3,344,070
Cash flows from investing activities
Interest income 50,000 8,267
Purchase of investments - (60,000)
Disposal of tangible fixed assets - 4,092
Purchase of tangible fixed assets (39,635) (90,227)
Cash used in investing activities
10,364
(137,869)
(Decrease) increase in cash and cash equivalents in theyear
1,375,186
3,206,202
Cash and cash equivalents at the beginningof theyear
9,811,875
6,605,673
Total cash and cash equivalents at the end of theyear
11,187,061
9,811,875
~~aa~~

A. Reconciliation of net movement in funds to net cash inflow from operating activities

operating activities
2024 2023
£ £
Net income / (expenditure) (419,707) 458,230
Depreciation charge 225,873 93,700
Investment income (50,000) (8,267)
(Increase)decrease in stock 11,122 34,831
(Increase)decrease in debtors
(51,354)
951,076
(Decrease)increase in creditors
1,648,887
1,814,500
~~a~~
Net cash used in operating activities 1,364,821 3,344,070

B. Analysis of changes in cash and cash equivalents

AT AT
1-APR 31-MAR
2023 CASHFLOWS 2024
£ £ £
Cash and cash equivalents 9,811,875 1,375,186 11,187,061
Deposit accounts - - -
9,811,875 1,375,186 11,187,061

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Annual Report and Financial Statements for the year ended 31st March 2024

Financial statements

Notes to the financial statements As at 31st March 2024

1a. Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition: effective 1 January 2019) - (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Pancreatic Cancer UK meets the definition of a public benefit entity under FRS 102.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Preparation of accounts on a going concern basis

Preparation of accounts is on a going concern basis. The trustees consider there are no material uncertainties about the Charity’s ability to continue as a going concern. The review of our financial position, reserves levels and future plans gives Trustees confidence the charity remains a going concern for the foreseeable future.

Basis of consolidation

The consolidated financial statements incorporate the results of Pancreatic Cancer UK (‘the Charity’) and its subsidiary undertaking Pancreatic Cancer UK Trading Limited. No separate Statement of Financial Activities (SoFA) or Cash Flow Statement has been prepared for the Charity as permitted by Section 408 of the Companies Act 2006 and FRS 102 Section 1.12 (b) respectively. The accounting policies have been consistently applied across the Group from year to year in accordance with FRS 102.

Income

All income, including legacy income, is included in full in the statement of financial activities when the charity is entitled to the income, it is probable that income will be received, and the amount of income receivable can be measured reliably. Third party platforms, such as Just Giving and Virgin Money provide convenient mechanisms for donors to send funds to the charity. All donations from these sources are received net of charges for card transactions, Gift Aid claims (where relevant), agency fees and VAT thereon where charged. These donations are grossed up for accounting purposes with the gross donations including Gift Aid shown as voluntary income and the related card charges, fees and VAT shown as fundraising costs.

Donations are recorded within the charity’s accounts based on the time of processing and dispatch to the charity by the agency rather than the date of the individual donations. All Gift Aid and related fees for donations are accounted contemporaneously with the donations whether or not they have been remitted/charged.

Gift Aid claimable on donations received

directly by the Charity are recorded as donation income in the accounting year when the donation is recorded. The outstanding amounts of such Gift Aid are recorded as a debtor until settlement of the claim is completed.

Investment income received from interest on deposits is included in the accounts on an accruals basis.

Expenditure

Expenditure is recognised in the year in which they apply to. Expenditure includes attributable VAT which cannot be recovered. The costs of generating funds relate to the costs incurred by the charity associated with attracting and processing the donations received as well as merchandising costs.

Charitable activities expenditure comprises

those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.

Grants payable are charged to the accounts in full in the year awarded, as the charity is committed to payment for the duration of the grant.

Expenditure is allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity are apportioned based on staff time attributable to each activity.

Governance costs include the costs of governance arrangements which relate to the general running of the charity, including strategic planning for its future development, external audit, any legal advice for the trustees, and all costs of complying with constitutional and statutory requirements, such as the costs of Trustee meetings and of preparing the statutory accounts and satisfying public accountability.

Employee benefits

Short term benefits including holiday pay are recognised as an expense in the period in which the service is received. Termination benefits are accounted for on an accrual basis and in line with FRS 102.

The charity makes pension contributions based on 4-6% of salary to staff personal pensions. The assets of these schemes are held separately from those of the charity in independently administered funds. The pension cost charge represents contributions payable under this arrangement by the charity to the funds. The charity has no liability other than for the payment of those contributions.

Financial instruments

The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Fixed assets and depreciation

Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life. Depreciation is charged on a straight-line basis, with the following expected useful life:

Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate that their recoverable value may be less than their carrying value.

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Annual Report and Financial Statements for the year ended 31st March 2024

Financial statements

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Critical judgements and estimates

In the application of the accounting policies, Trustees are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources.

The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. In the view of the Trustees, the recognition of liabilities for future grant commitments and the split of these between amounts due in less than and more than one year is an area of judgement significant to the accounts. There are no other areas of judgement or estimation that are likely to result in a material adjustment to the accounts in the next financial year.

Creditors and provisions

1b. Trading Subsidiary

The charity opened a wholly owned trading subsidiary Pancreatic Cancer UK Trading Limited on 31st March 2022, with paid up share capital of £1. Pancreatic Cancer UK Trading Limited is incorporated in the UK. The principal activities of the company are commercial activities, namely sales, promotions, mail order and licensing. A summary of its trading results and net assets is shown below. These results are included in the group consolidation. Audited financial statements are filed with the Registrar of Companies.

Total Total
2024 2023
£ £
Profit and loss account
Turnover 205,078 325,771
Cost of sales (271,096) (325,978)
Gross Profit (66,018) (207)
Administrative expenses (9,202) (14,385)
Operating profit (75,220) (14,592)
Interest receivable and similar income - -
Profit before taxation
Taxation
~~ee~~		 (75,220)
-
~~ee~~		 (14,592)
-
~~ee~~
Profit for the financialyear (75,220) (14,592)
Distribution - -
Net movement in Funds (75,220) (14,592)
Balance sheet as at 31 March Total
2024
£		 Total
2023
£
Stock 87,338 98,461
Debtors 7,752 90,169
Cash 6,900 103,350
Current liabilities (191,800) (306,571)
Net assets (89,810) (14,591)
Profit and loss account 1 1
Surplus (89,811) (14,592)
Share capital and reserves (89,810) (14,591)

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

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Annual Report and Financial Statements for the year ended 31st March 2024

Financial statements

2. Income

2. Income
Total Total
2024 2023
£ £
Total donations and legacies income for theyear includes income from:
Gifts in kind 10,300 6,120
Gift aid claimed 407,534 414,662
417,834 420,782
Net income for theyear is stated after charging: Total
2024
£		 Total
2023
£
Depreciation 225,874 93,699
Auditor’s remuneration
Statutoryaudit 22,760 15,732
Tax services 4,740 10,947
Other services 11,012 15,252
Operatingleases 228,362 203,876
492,748 339,506

3a. Expenditure

3a. Expenditure
Direct Grants Support Total Total
Costs Awarded Costs 2024 2023
£ £ £ £ £
Raising funds 3,583,144 - 863,780 4,446,924 4,026,830
Charitable activities
Information and support 1,648,615 - 833,527 2,482,142 2,014,623
Campaigning& awareness 1,473,634 - 862,461 2,336,095 1,842,104
Research 264,399 2,688,643 824,907 3,777,949 3,155,774
6,969,792 2,688,643 3,384,675 13,043,110 11,039,331

Support Costs

Staff Premises & Other Total Total
Costs Offce Costs Costs 2024 2023
£ £ £ £ £
Cost of raising funds 449,528 146,377 267,875 863,780 736,674
Charitable activities
Information and support 419,275 146,377 267,875 833,527 684,201
Campaigning& awareness 448,210 146,377 267,874 862,461 714,405
Research 410,656 146,376 267,875 824,907 678,206
1,727,669 585,507 1,071,499 3,384,675 2,813,486

Support costs have been allocated on the basis of staff time spent on each activity. Governance costs of £22,760 (2022: £20,644) are within support costs. See note 4 for further analysis.

3b. Cost of Raising Funds

3b. Cost of Raising Funds
2024 2023
£ £
Staff costs 1,349,853 1,068,221
Fundraisingevents 1,620,995 1,604,563
Merchandise 271,096 325,978
Collection agencyfees and charges 341,200 291,394
Support costs(as above) 863,780 736,674
4,446,924 4,026,830

4. Governance Costs

4. Governance Costs
2024 2023
£ £
Audit fees 22,760 15,732
Trustees expenses and meetings 5,763 4,912
28,523 20,644

Governance costs have been allocated to support costs. Three trustees claimed expenses for travel during the year, totalling £2,003 (2022/23 £1,895).

5. Grants payable

5. Grants payable
2024 2023
£ £
Reconciliation ofgrants payable:
Outstandingcommitments at 31 March 2023 3,666,014 2,204,511
Grant commitments made in theyear 2,688,643 2,211,214
Grantspaid duringtheyear (1,136,002) (749,711)
Outstanding commitments at 31 March 2024 5,218,655 3,666,014

All grants above were made to hospitals, medical schools and other institutions furthering research into pancreatic cancer. There were no grants to individuals in the year to 31 March 2024 (2023: none). Of the outstanding commitments £3,023,315 are due within one year and £2,195,340 after one year.

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Annual Report and Financial Statements for the year ended 31st March 2024

Financial statements

6. Staff costs and numbers

6. Staff costs and numbers
2024 2023
£ £
Staff costs were as follows:
Staff Salaries 4,277,041 3,538,871
Social securitycosts 455,985 400,580
Pension contributions 413,145 290,644
5,146,171 4,230,095

Staff costs set out in the table include redundancy & ex gratia payments of £16,782 (2023: £5,763).

The table below sets out the salary bandings (excluding pensions) for employees with salaries over £60k.

2024 2023
No. of No. of
employees employees
£60k to £70k 8 8
£70k to £80k 0 0
£80k to £90k 3 2
£90k to £100k 1 1
£100k to £110k 1 1

Employer pension contributions in respect of these employees were £109,389 (2023: £80,063).

Key Management remuneration

The total employee benefits of the key management personnel of the charity was £652,661 (2023: £524,358). The increase being the result of an additional Director post being added in the year.

The average number of employees duringtheyear was as follows: No. No.
Employees 97 76
Temporarystaff 6 2
103 78

7. Tangible fixed assets

Offce Offce Accounting Computer
Equipment &
Fittings Furniture System Website Software Total
£ £ £ £ £ £
Cost
At 31 March 2023 282,053 63,497 56,770 138,768 194,087 735,175
Additions inyear - 7,091 - - 32,544 39,635
Disposals (225,259) (1,576) - - - (226,835)
At 31 March 2024 56,794 69,012 56,770 138,768 226,631 547,975
Depreciation
At 31 March 2023 76,504 62,099 35,572 82,914 120,387 377,476
Charge for theyear 157,450 917 11,354 27,166 28,985 225,872
Disposals (225,259) (1,576) - - - (226,835)
At 31 March 2024 8,695 61,440 46,926 110,080 149,372 376,513
Net book value
At 31 March 2024 48,099 7,572 9,844 28,688 77,259 171,462
At 31 March 2023 205,549 1,398 21,198 55,854 73,700 357,699

All tangible fixed assets are used to fulfil the charity’s objects.

8. Stock

8. Stock
Consolidated Charity
2024 2023 2024 2023
£ £ £ £
Goods for resale 87,339 98,461 - -
87,339 98,461 - -
9. Debtors
Consolidated Charity
2024 2023 2024 2023
£ £ £ £
Other debtors 106,626 120,512 98,874
95,039
Amounts owed by group undertaking - - 169,680
211,457
Prepayments and accrued income 1,043,624 978,384 1,043,624
913,688
1,150,250 1,098,896 1,312,178
1,220,184

Included within accrued income is legacy income of £207,750 (2023: £242,500) being the estimated value of legacies which were notified to the charity prior to the year end.

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Annual Report and Financial Statements for the year ended 31st March 2024

Financial statements

10. Creditors: amounts falling due within one year

Consolidated Consolidated Charity Charity
2024 2023 2024 2023
£ £ £ £
Accounts payable 397,414 376,279 397,414 294,999
Other taxation and social security 128,823 115,909 128,823 115,909
Deferred Income(see below) 176,250 312,500 176,250 312,500
Accruals 316,593 145,352 301,523 131,520
Other creditors 74,727 47,522 67,677 47,521
Grantspayable 3,023,315 1,837,988 3,023,315 1,837,988
4,117,122 2,835,550 4,095,002 2,740,437
Amounts falling due after oneyear
Grantspayable 2,195,340 1,828,026 2,195,340 1,828,026 2,195,340 1,828,026
10. Creditors: amounts falling due within one year
(continued)
2024 2023
Analysis of deferred income: £ £
Balance at 1 April 312,500 54,207
Amount released to income 312,500 54,207
Amount deferred in theyear
176,250
312,500
176,250
312,500
~~Tf~~
~~rr~~
~~_—E~~
Deferred income relates to funds specified by donors to be spent in the next
financial year.

12. Consolidated funds

At 31
At 31 March March
2023 Income Expenditure Transfers 2024
£ £ £ £ £
Unrestricted funds:
General funds:
OperatingContingency 1,450,000 - - 100,000 1,550,000
Unrestricted reserves 560,795 10,243,897 (9,797,577) (870,604) 136,511
Tradingentityfunds (14,591) 205,078 (280,297) - (89,810)
Total General funds 1,996,204 10,448,975 (10,077,874) (770,604) 1,596,701
Designated Funds:
Future research grants, data
and digital development		 3,831,333 - (1,307,609) 850,000 3,373,724
Total Designated Funds 3,831,333 - (1,307,609) 850,000 3,373,724

Transfers from restricted to unrestricted funds are to re-imburse payments made from unrestricted funds pending receipt of restricted income.

Purpose of designated funds:

To fund pancreatic cancer research grants over the next three years, together with strategic development of pancreatic cancer data resources and digital services to patients and carers, and to invest in organisational infrastructure and sustainability.

11. Analysis of net assets between funds

General Restricted Total
Funds Funds Funds
£ £ £
Tangible fixed assets 171,462 - 171,462
Net current assets 4,798,963 1,373,223 6,172,186
Net assets at 31 March 2024 4,970,425 1,373,223 6,343,648

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Annual Report and Financial Statements for the year ended 31st March 2024

Financial statements

12. Consolidated funds (continued)

At 31 At 31
March March
2023 Income Expenditure Transfers 2024
£ £ £ £ £
Restricted funds
Research restricted funds
EarlyDiagnosis - 120 - (120) -
Europac - 13,000 - - 13,000
Future Leaders Fund Cambridge 24,250 - (24,250) - -
General Research - 714,480 (714,480) -
Research Innovation Fund(RIF) - 23,121 (23,121) -
RIF Chen & Holmes - 194 - (194) -
RIF2021 Carroll 10,000 - (10,000) - -
RIF2021 Morton 7,687 532 (7,687) - 532
RIF 2021 Voordeman 4,311 - (4,311) - -
CF2022 Acedo 250,000 49,999 (26,890) - 273,109
FF2022 Barbero 167,257 - (84,251) - 83,006
FF2022 Lumeau 74,700 89,076 (61,474) - 102,302
FF2022 Haider 22,804 97,755 (84,913) - 35,646
FF2022 Teeson 58,281 35,456 (93,737) - -
FF2022 Williams 25,000 (25,000) - -
VAPOR(Breath Test)researchproject 208,540 419,687 (203,075) - 425,152
RIF - O’Neill 2023 2,500 55,660 (58,160) - -
RIF - Behrens 2023 - 100,000 (47,573) - 52,427
RIF - Kierkegaard 2023 - 95,509 (7,115) - 88,394
RIF - Froeling2023 - 97,863 (635) - 97,228
RES - Beatson - Coffelt - 79,082 - (79,082) -
CFF2022_01_Mouratidis - 136,247 (63,022) - 73,225
ECF 2022 01 Mucciolo - 23,249 - - 23,249
Non-research restricted funds
Nicki’s Smile 80,488 6,201 - - 86,689
Less Survivable Cancers Taskforce - 84,196 (64,932) - 19,264
Support and Information Service - 52,801 (52,801) - -
Nursing - 200 (200) - -
Total Restricted Funds 935,818 2,174,428 (1,657,627) (79,396) 1,373,223
Total funds 6,763,355 12,623,403 (13,043,110) - 6,343,648

Transfers from restricted funds represent repayment of sums paid out from unrestricted funds ahead of receipt of restricted donations.

Full comparative figures for the year to 31 March 2024 are shown in note 19.

Purpose of restricted funds:

Early Diagnosis

Funding from various donors toward all research projects on earlier diagnosis of pancreatic cancer.

EUROPAC

This is funding towards the European Registry of Hereditary Pancreatitis and Familial Pancreatic Cancer (EUROPAC).

Future Leaders Fund Cambridge

Funds for a Pancreatic Cancer Future Leader at the University of Cambridge.

General research

The fund relates to amounts donated towards our research programme but not allocated to a specific project.

Research Innovation Fund (RIF)

The Research Innovation Fund (RIF) was created to spur creative and cutting edge ideas and approaches in pancreatic cancer research including those successful in other areas of cancer research that have justifiable promise for pancreatic cancer.

The awards are intended to support pilot work that will put the researchers in a better position to apply for larger grants to take their work to the next stage.

RIFYear Name

Funding for a Research Innovation Fund (RIF) award given in a particular year to named individual.

CFYear Name

Career Fellowship awarded to a named

individual in a given year.

FFYear Name

Foundation Fellowship awarded to a named individual in a given year.

VAPOR (Breath Test) Research

Funds towards the VAPOR (Breath Test) research project.

Ruth Metcalfe Research Fund

Funds given in memory of Ruth Metcalfe to be put towards research into pancreatic cancer.

Support and Information Service

The fund relates to amounts donated towards our support and information services work.

Nicki’s Smile Fund

The fund relates to amounts donated by the Nicki’s Smile Appeal and is to be used as recommended and agreed by the Trustees.

Less Survivable Cancers Taskforce

Funds toward our work as part of the Less Survivable Cancers Taskforce. The Less Survivable Cancers Taskforce is made up of six charities and is committed to improving survival rates for people affected by cancer of the brain, lung, liver, stomach, pancreas and oesophagus.

13. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

14. Related party transactions

Aggregate donations of £34,275 (2023: £89,327) were received from the Trustees in the year.

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Annual Report and Financial Statements for the year ended 31st March 2024

Financial statements

15. Operating lease commitments

At the year end, the charity was committed to the following future minimum lease payments in respect of operating leases:

==> picture [526 x 588] intentionally omitted <==

----- Start of picture text -----
Land and buildings Office Equipment
2024 2023 2024 2023
£ £ £ £
In less than one year 226,981 202,495 1,381 1,381
In two to five years 834,544 - - -
1,061,525 202,495 1,381 1,381
16. Comparative (Prior Year) Statement of
Financial Activities
Unrestricted Restricted Total
Funds Funds 2023
2023 2023 £
£ £
INCOME FROM:
Donations and legacies 9,033,813 2,102,210 11,136,023
- - -
Other trading activities: - - -
Merchandise income 353,271 - 353,271
- - -
Investments 8,267 - 8,267
Total income 9,395,351 2,102,210 11,497,561
Expenditure on:
Raising funds 4,026,830 - 4,026,830
Charitable Activities - -
Information and support 1,937,418 77,205 2,014,623
Campaigning and awareness 1,791,607 50,497 1,842,104
Research 2,354,485 801,289 3,155,774
Total expenditure 10,110,340 928,991 11,039,331
Net income/(expenditure) (714,989) 1,173,218 458,230
Funds opening balance 6,229,207 75,918 6,305,125
Transfers between funds 313,319 (313,319) -
Funds closing balance 5,827,537 935,817 6,763,355
----- End of picture text -----

17a. Prior year comparative for note 3a Expenditure

Direct Grants Support
Costs Awarded Costs Total Total
2023 2023 2023 2023 2022
£ £ £ £ £
Raising funds 3,290,156
-		 736,674
4,026,830		 3,379,988
Charitable activities - - - -
Information and support 1,330,422
-		 684,201
2,014,623		 1,644,125
Campaigning& awareness 1,127,699
-		 714,405
1,842,104		 1,497,469
Research 266,354
2,211,214
678,206
3,155,774		 2,564,503
6,014,631
2,211,214
2,813,486
11,039,331		 9,086,085
17b. Prior year comparative for note 3a Expenditure -
Support costs
Staff Premises & Other Total Total
Costs Offce Costs Costs 2023 2022
2023 2023 2023 £ £
£ £ £
Cost of raising funds 392,532 112,907
231,235		 736,674 658,640
Charitable activities - - - -
Information and support 340,059 112,907
231,235		 684,201 608,699
Campaigning& awareness 370,263 112,907
231,235		 714,405 634,114
Research 334,064 112,907
231,235		 678,206 599,381
1,436,918 451,628
924,940		 2,813,486 2,500,834
Support costs have been allocated on the basis of staff time spent on each activity.
Governance costs of £20,644 (2022: £24,431) are within support costs.
18. Comparative (prior year) analysis of net assets
between funds
General
Restricted		 Total
Funds Funds Funds
2023 2023 2023
£ £ £
Tangible fxed assets 357,699 - 357,699
Net current assets 5,469,536 935,818 6,405,654
Net assets at 31 March 2023 5,827,536 935,818 6,763,355

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Annual Report and Financial Statements for the year ended 31st March 2024

Financial statements

19. Comparative (prior year) movement in funds

At 31 March
2022		 Income Income Expenditure Transfers At 31 March
2023
£ £ £ £ £
Unrestricted funds:
General funds:
OperatingContingency		 1,192,000 - - 258000 1,450,000
Unrestricted reserves
Total General funds		 1,132,949
2,324,949		 9,395,351
9,395,351		 (8,537,415)
(8,537,415)		 (1,444,681)
(1,186,681)		 546,204
1,996,204
Designated Funds:
Future research and 3,904,258 - (1,572,925) 1,500,000 3,831,333
expansion
Total Designated Funds		 3,904,258 - (1,572,925) 1,500,000 3,831,333
At 31 March At 31 March
2022 Income Expenditure Transfers 2023
£ £ £ £ £
Restricted funds
Research restricted funds
EarlyDiagnosis Project - UCL - - - - -
EarlyDiagnosis - 278,120 (278,120) -
EarlyDetection Innovation Workshop - -
Europak - 77,000 (77,000) - -
Future Leaders Fund General - -
Future Leaders Fund Cambridge - 156,250 (132,000) - 24,250
Future Leaders AcademyBeatson - 35,000 (35,000) -
Future Leader - D Whyte - -
General Research - 142,328 (142,328) - -
Grand Challenge - -
Research Innovation Fund(RIF) - 120 - (120) -
RIF Chen & Holmes - 46 - (46) -
RIF2019 Connell - - -
RIF2019 Gail Van ter Haar - - -
RIF2021 Carroll - 100,000 (90,000) - 10,000
RIF2021 Morton - 85,687 (77999) - 7,687
RIF2021 Roberts - - -
RIF2021 Sandnandam - 89,010 (89,010) - -
RIF2021 Tan - 66,208 (66,208) -
RIF 2021 Voordeman - 73,311 (69,000) - 4,311
RIF2023 O’Neill - 2,500 - - 2,500
CF2022 Acedo - 250,000 - - 250,000
FF2022 Barbero
-
183,000
(15,743)
-
167,257
FF2022 Lumeau
-
76699,68
(2,000)
-
74,700
~~a~~
FF2022 Haider - 62,804 (40,000) - 22,804
FF2022 Teeson - 58281,44 - - 58,281
FF2022 Williams - 25,000 - - 250,00
Ruth Metcalfe Research Fund
~~CO~~		 -
~~CO~~		 33
~~CO~~		 -
~~CO~~		 ~~CO~~ (33)
~~CO~~		 -
~~CO~~
VAPOR(Breath Test)researchproject - 208,540 - - 208,540
Non-research restricted funds
Nicki’s Smile 73,421 7,067 - - 80,488
Less Survivable Cancers Taskforce
2,497
48,000
(50,497)
-
-
Livingwith Days in SE
-
-
Restricted Northern Ireland
-
-
Ride London100 ExpandingServices
-
-
Support and Information Service
-
67,205
(67,205)
-
-
~~a~~
Support - EasyRead Publications - -
Support Service Videos - 10,000 (10,000) -
Total Restricted Funds 75,918 2,102,210 (928,991) (313,319) 935,818
Total funds 6,305,125 11,497,561 (11,039,331) - 6,763,355

74

75

Annual Report and Financial Statements for the year ended 31st March 2024

Financial statements

Reference and administrative details

Governing Document

Trustees

Eleanor Phillips - Chair

The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.

Daniel Benjamin (Treasurer until 27 June 2023, Retirement 3 October 2023)

Neil Balmer

Arthur Calderwood (Deceased 28 August 2023)

Company No.

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==> picture [67 x 41] intentionally omitted <==

==> picture [63 x 33] intentionally omitted <==

05658041

Stuart Fletcher (Retirement 27 June 2023)

Iain Frame (Appointed 27 June 2023, Resigned March 2024)

Jeremy Hand (Appointed 27 June 2023)

Rima Horton

Greg Mueller

Dr Naureen Starling (Resigned 12 December 2023)

Katie Stotter

Anne Tutt (Treasurer since appointment 27 June 2023)

Charity No.

1112708 (England & Wales) SC046392 (Scotland)

Trading subsidiary

Pancreatic Cancer UK Trading Limited Company No. 14011291

Registered Office of charity and trading entity

Queen Elizabeth House, 4 St Dunstan’s Hill, London EC3R 8AG

Pancreatic Cancer UK

Queen Elizabeth House 4 St Dunstan’s Hill London EC3R

Principle Staff

Diana Jupp, Chief Executive

Status

The organisation is a charitable company limited by guarantee, incorporated on 19 December 2005 and registered as a charity on 13 January 2006.

Bankers

HSBC Bank plc, 8 Canada Square, London E14 5HQ

Barclays Bank plc, 3-5 King Street, Reading, RG1 2HD

Auditors

Haysmacintyre LLP, 10 Queen Street Place, London EC4R 1AG

+44 (0)20 3535 7090

enquiries@pancreaticcancer.org.uk pancreaticcancer.org.uk

Pancreatic Cancer UK

Charitable Company, Limited by Guarantee

Company No. 5658041 Charity No. 1112708 Registered in England and Wales Scottish charity number SC046392

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