Company registration number 07767248 IEngland and Wales)
Charity registration number 1143743 {England and Wales)
THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED
ACTION AGAINST CANCER
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025

THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED
ACTION AGAINST CANCER
LEGAL AND ADMINISTRATIVE INFORMATION
Trustses
Mr Percy Beckley
Mr Jonathan S M Craft
Mr Maurice H Craft
Mrs Rachel L Craft
Mrs Michaela M Rees Jones
Mr Laurence J F Tado
Ambassadors
Ms Tiffany Chawner
Ms Nicola Floyd
Mr Julian O'Dell
Mrs Cheryl Whitehead
Patrons
Lord Alliance CBE
Harry & Carolyn Black
Barry Boas
Roger Cadbury Family
Harold & Daphne Cooper Charitable Trust
Peter & Marilyn Cooper
John Emery
Alessandro Dusi
Isabel Ettedgui
The Fallon Family
Charfes & Diane Herfinger
Michael & Lottie Hunter
Bevs Malim
Martin O'connor
Sir Paul & Lady Ruddock
Chris Sharp
Michaela M Rees Jones
Secretary
Mrs Joyce Fletcher (JPI
Charity number
1143743
Company number
07767248
Principal address
2 Regency Chambers
Jubilee Way
Bury
Lancashire
BL9 OJW
Registered office
2 Regency Chambers
Jubilee Way
Bury
Lancashire
BL9 OJW

THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED
ACTION AGAINST CANCER
LEGAL AND ADMINISTRATIVE INFORMATION
Accountants
JS. Accountants & Business Advisors Limited
James House
Stonecross Business Park
Yew Tree Inlay
Warringlon
Cheshire
WA3 3JD
Bankers
Virgin Money
17-21 Oxford Street
Bolton
Lancashire
BL1 1RD

THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED
ACTION AGAINST CANCER
CONTENTS
Page
Chairman's slalement
Trustees, report
Independent examiner's report
Statement of financial activities
Balance sheet
10
ststemenl of cash flows
Notes lo the financial statements
12-19

THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED
ACTION AGAINST CANCER
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Action Against Cancer was sel up in September 2011, 'TD promote and protect the health of the public, in particular
by research into the prevenb"on, treatment and cure of all forms of cancer, including research into practical
applications for the prevention, treatment and cure of cancer and lo disseminate the useful results of such research
to the public..
The Trustees are pleased that the charity continues lo fulfil this role. and has in that time established a particular
place in the cancer research sector. SLJPPOrting brand new projects with initial funding, as well as granting continued
awards for ongoing pioneering work.
Within this report there are details of achievements made with support from Action Against Cancer in laboratories al
Imperial College London, the University of Sussex and al Anglia Ruskin University Cambridge.
An exceptional breakthrough was made with the idenlificalion of a cancer off swtch. that offers much new hope for
patients. One of our breast cancer projects was showcased al the 2025 European Association for Cancer Research.
We are proud to support the incredible research of all of the dedicated scientists that we ftjnd.
Fundraising continues to be challenging, but committed supporters and new donors gave generously during the
year. I give my personal thanks to all of the Patrons, Ambassadors, individuals, companies, charitable trusts and
foundations who continue to support Action Against can￿r.
Mr Maurice H Craft
Chalmian
24-Jun-2026

THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED
ACTION AGAINST CANCER
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The Trustees present their report and financial statements for the year ended 30 September 2025.
The financial slalements have been prepared in accordance with the accounting policies sel out in note 1 to the
financial statements and comply with the charity's governing document, the Companies Act 2006 and
"Accounting and Reporting by Charities". Statement of Recommended Practi￿ applicable lo charities preparing
their accoun15 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Irelantl
IFRS 1021 (effective 1 January 20191
Objectives and activities
The objectives of the charity have remained unchanged. These are lo promote and protect the health of the
public, in partiCLJlar by research into the prevention. treatrnent and cure for all forms of Can￿r. This includes
research into practical applications for the prevention, treatment and cure of cancer and lo disseminate the useful
results of such research to the public. The Charty Commission's general guidance on public benefit has been
referred to when reviewing our aims and objectives and in planning our future aclivilies.
Public Benefit
We review our aims, objectives and activities each year. We have referred lo the guidance contsined in the
Charity Commission's Charities and Publi¢ Benefit document. All of our charitable activities fows on promoting
and protecty'ng the health of the publi¢, in particular applications for the prevention, treatment and ¢ure of Cancer.
Scientific Advisory Board
Aclion Against Cancer is privileged that the following scientists and clinicians have agreed to serve on OLJr
ScienlificAdvisory Board..
Professor Heinz-Josef Lenz - Deputy Director for Research Program and Head of the Gastrointestinal Can￿r
Program, USC Norris Comprehensive Can￿r Centre
DrAbby Siegel - Assistant Professor, Department of Medicine, Columbia University Medical Cenlre, New York
Dr Siddhartha Mukherjee- Associate Professor of Medicine, Columbia University Medical Centre, New York
Professor Pramod K. Srivastava - Director, Carole and Ray Neag Comprehensive Cancer Cenlre, Connecticul
Research Themes
All work funded by Action Against Cancer falls under the following research themes..
Cancer Stem Cells
Genetic Switches
Developing a drug for a totally new approach lo therapy ILMTK31
Understanding the Cancer Brain
Melaslasis
Cancer Stem Cells
Cancer Stem Cells ICSCsl only ¢onslitule up to 5Q/o of a cancerous tumour, bul they generate the fast multiplying
cells that make up the majority of the rest. CSCS are also linked to some of the most malignant features of
Can￿r, including treatment resistan￿ and the ability lo spread to other parts of the body.
It can be many months or even years after successful treatment of a primary tumour, before secondary cancer
spreads. This has been described as if the dandelion has been removed from the lawn, bul the CSC root is left
below the surface lo regrow al a later date.
Action Against Cancer is funding a number of projects examining CSCS, lo enable the development of
treatments that specifically tsrgel them - lo more fully cul can¢ers out by the roots. The scientists are working lo
gain a thorough understanding of how CSCS operate and to answer vital questions such as..
Vvhy do ￿rtain patients not respond lo treatments?
What conditions allow some lumours lo spread around the body.
How could future t￿alments specifically tsrgel the most malignant cells?

THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED
ACTION AGAINST CANCER
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
EXAMPLE OF PROGRESS.. Tacklin
the Most A
ressive Cancer Cells
Cancer cells within the same lumour are not Identical, they carry different mulalions that can either work together
or against each other during Cancer progression. A research team, funded by Action Against Cancer al Imperial
College London, has been investigating the potential development of combination therapies that eliminate the
most aggressive ￿lIS while sparing heatthy tissue.
They have SU￿esSfullY identified genes belonging to bNo known cancer-driving pathways. that when mutated
together, lead to a more invasive and aggressive phenotype. The team will examine this phenotype in greater
detail to understand why cells become more aggressive and how we can slop this by targeting both pathways.
Led by Dr Nina Moderau, this research was one of 12 projects chosen out of 1,700 entries to be showcased al
the European Association for Cancer Research Annual Congress 2025.
Genetlc Swltches
Since the mapping of DNA with the Human Genome Proje¢t, there is greater understanding within the scientific
community of some aspects of Can￿r. In the past, the vast majority of DNA was believed to be 'junk' as it does
not code for protein. It was thought only a small amount of DNA was significant, that which turns into single
stranded RNA, and then into proteins responsible for the structures and functions we are familiar with (brown
hair, blue eyes elcl.
However, il is now known that much of DNA is in fact transcribed into non-coding RNAS, some of which play
important roles in nomial biological function. gene regulation and ¢an¢er development. A¢lion Against Cancer is
funding a range of projects related lo identifying non-coding RNAS that are operating as genetic switches causing
cancer to grow or shrink.
EXAMPLE OF PROGRESS.. FatTissue and Can￿r Cells
The team al the Professor Slebbing Cell and Molecular Blo1￿Y Laboratory al Anglia Ruskin University
Cambridge, are investigating how fat tissue affects the progression of breast and colorectal cancer. Their main
hypothesis is that fat tissue offers fuel for the growih of specific POPLJlations of cancer cells with more aggressive
capabilities, thus is more prone to spreading in the body.
Comparing the cancerous fal tissue from lean people and from obese people may help identify new molecules
from fal or cancer cells that play a key role in the development and progression of cancer, which could ultimately
improve diagnosis and treatment for patients.
Funded by Action Against Cancer, the team have developed a sophisticated 3D model and conducted numerous
experiments revealing significant findings, including the identification of proteins that could be biomarkers for new
drug targets for therapies and to identify higher-risk patient subgroups.
Developing a drug for a totally new approach to therapy ILMTK31
The identification of a new cancer causing gene in 2011 by Professor Georgios Giamas was the earliest
significant breaklhrDugh supported by Action Against Cancer. This gene called LMTK3 is new to humans, and is
expressed more in cancer ￿lIS than in nomial ￿lIs. Those cancers that have high levels of LMTK3 are also
much more aggressive.
Since 2011 we have funded Professor Giamas, research aiming lo develop an anti-LMTK3 drug. This would be to
overcome the resistance lo treatments that often develops wthin patients, bodies.
Many patients respond well to initial treatment bul then develop resistsn¢e to il - this is when, with Currently
available treatments, their cancer becomes much more difficult to treat. A potential anti-LMTK3 drug will be
specifically designed lo work in conjunction with a patient's existing treatment, and in a way that overcomes
chemotherapy or horrnonal therapy resislance, allowng these treatments to start working again. This would be a
momentous slep in the history of can￿r treatment.

THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED
ACTION AGAINST CANCER
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
EXAMPLE OF PROGRESS.. Cancer°off switch.
A study was published with a cancer "off switch" breakthrough in this research programme funded by Action
Against Cancer. The team al the University of Sussex has revealed that blocking the LMTK3 protèin can prevent
breast cancer lumours from tuming immune cells into 'friends'. In cancer, immune cells can be either 'friends' or
Yoes,, depending on the specific ￿11 type and the lumour microenvironment.
The team has discovered that high levels of LMTK3 in breast cancer cells can trick the body's defences - and
that switching il off wf(h drugs could lurbLFcharge immunotherapy by fighting lumour cells, thereby delaying or
preventing spread and ultimately prolonging lives.
LMTK3 is also present in other parts of the body - including the lungs, thyroid, sloma¢h, colon, ovaries and skin
meaning the findings could have positive implications on a range of cancers.
Understandlng the Cancer Braln
11 is thought that can￿r ￿11$ have a 'brain', which is responsible for tuming the Cells 'on' or'off. We are funding
research lo gain a comprehensive understanding of this cancer brain, by learning exactly what lakes pla￿ during
the onset and growih of cancer- one protein at a time.
Proteins are present in all of the ￿lIS in our body, including in can￿r cells. The types of proteins, their quantity,
and the level of their activity can differ between normal cells and cancer cells. Proteins enable cancer cells to
grow very fast or they can cause them not to respond lo a given drug. One of the main approaches in studying
cancer cells and Identifying new Irealmenl targets is lo analyse their protein content in great detail.
Action Against Cancer supports research lo understand cancer cells, to pave the way for the design of drugs
tsrgeling those proteins that are found lo play the most important role in the progression of cancer.
EXAMPLE OF PROGRESS.. Immune S stem and Cancer Pro
ression
Over the years, research has often focused either on immunology or on can￿r biology. Supported by Action
Against Cancer, a team led by Dr Biancastella Cereser al Imperial College London, is bringing these fields
together lo examine how the Immune system influences cancer progression. Current understanding recognises
that cancer can escape the body's immune system and continue lo multiply. The team are studying the
mechanisms cancer cells develop to evade immune surveillance and how lumours use specific cells to survive-
and crucially, lo find ways lo prevent them doing this.
By engineering immune ￿lIS and combining them with cancer cells that harbour defined mutations, they were
able to analyse how immune cells transform into either a tumour-promoting or a tumour-inhibiting state. The team
successfully discovered immune cells that respond differently to specific mulalions. They plan lo investigate the
mechanisms behind immune evasion and identify ways to activate immune cells so they can attack cancer cells
again.
Metsstasls
When cancer is said lo have spread this means it has melaslasised. This is when cancer cells break away from
where they first formed and travel through the blood or lymphatic systems to fomi new tumours in other parts of
the body. This development of secondary can￿r is called metasiasis. A metastatic tumour is the same type of
cancer as the primary tumour.
Action Against Cancer funds a number of projects that are linked lo understsnding the causes of metsstssis, in
order to..
more effectively predict the likelihood of cancerous cells melaslasising Ispreadingl in each patient.
tailor the lesling for patients with a high likelihood of their cancer melaslasising so as to improve the
likelihood of earfy diagnosis.
improve the treatment strategies for these patients On￿ a propensity for melaslasis of their cancer has been
identified, thus greatly Increasing their chances of survival.

THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED
ACTION AGAINST CANCER
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
EXAMPLE OF PROGRESS.. Pioneerin
a Brain Tumour Blood Test
Brain melaslases (when cancer spreads lo the brainl are a serious and often life-limiling development for many
people living with Cancer. They are especially wmmon in individuals wlh lung Cancer, melanoma, and Certain
types of breast cancer. Al the moment, the￿ is no way lo predict who will develop brain melaslases, and
diagnosis often means undergoing risky brain surgery. Even after diagnosis, regular MRI scans are used to
check if the cancer has come back-bul these are expensive. sometimes inconclusive. and can be very stressftjl
for patients and families.
Action Against Can￿r is collaborating wf(h the Sussex Cancer Fund to support a potentially lif&changing
research project- developing a simple blood lesl to detect and monitor the spread of brain cancer, removing the
need for risky brain surgery and stressful MRI scans.
Achievements and perforniance
Income continues lo remain al a much lower level than during pre-covid pandemic times. However, committed
and new donors gave generously during the year. Everyone involved with Action Against Cancer is enormously
grateful to the individuals, companies and trusts and foundations that have donated towards our work.
A small number of fijndraising events took place during the year, including notably a lecture arranged by Action
Against Cancer, A Movable Feast and a charity ball organised by supporters, which combined with donations
received raised £101,600.
We are incredibly proud of the groundbreaking work the scientists in the laboratories al Imperial College London,
the University of Sussex and Anglia Ruskin University Cambridge have achieved during the year.
Below is a sample of published papers describing work wholly or partly funded by Action Against Cancer..
LMTK3 regulation of EV biogenesis and cargo sorting promotes tumour growth by reducing monocyte
infiltration and driving pro-lumourigenic macrophage polarisalion in breast cancer (published 23rd May
2025 In Molecular Gance
Preserving Fossilized Soft Tissues.. Advancing Proteomics and Unveiling the Evolutionary History of
Cancer in Dinosaurs (published 3rd April 2025 In Biologyl
3. Spatial biology
unravelling Complexity within the glioblastoma microenvironmenl Ipublished 101h
February 2025 in Tr8nds in Mol8cular Medicine)
Financial review
During the year the Charity's income from all sources amounted to £267,904 12024.. £539,6761. In the same
period. expenditure on charitable ath'vib'es totalled £500,923 12024.. £421,250), and the cost of raising ftjnds
totalled £76,03312024'. £75,129).
Accumulated funds as at 30 September 2025 lolalled £1,781,06012024.' £2,090,112). The Trustees consider that
thè financial position as al 30 September 2025 15 satisfactory. Approximately tWO-Ihirds of these funds (including
those in unrestricted fundsl have been awarded lo approved projects Is* Note 131.
11 is the policy of the ¢harity that unrestri¢ted funds which have not been designated for a spe¢ifi'¢ use should be
maintained at a level equivalent to bett￿een three and six months expenditure. The TrLJStees consider that
reserves at this level will ensure that. in the event of a significant drop in funding. they will be able to continue the
charity's current activities while consideration is given lo ways in which additional funds may be raised. This level
of reserves has been maintained throughout the year.
Plans for the future
The Charity will ¢onlinue lo ftjnd all of the projects already approved, and lo fundraise lo support other research
aiming to further understand can￿r and how to better diagnose and treat it. The charity will continue to
disseminate results of research in published scientific papers, on the organisation's website and in regular e-
newsletters.

THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED
ACTION AGAINST CANCER
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
structure. governance and management
The charity is a company limited by guarantee, incorporated on 8 September 2011 and registered with the
Charity Commission on 9 September 2011. The charty carries out ils activities using the working name Action
Against Cancer.
The Trustees, who are also the directors for the purpose of company law, and who served during the year and up
to the date of signature of the financial stalements were..
Mr Percy Beckley
Mr Jonathan S M Craft
Mr Maurice H Craft
Mrs Rachel L Craft
Mrs Michaela M Rees Jones
Mr Laurence J F Tarlo
The Board of Trustees is authorised to appoint new Trustees to fill vacanaes arising through the resignation or
death of an existing trustee.
None of the Trustees has any benefi¢i81 interest In the company. All of the Trustees are members of the company
and guarantee lo contribute £1 in the event of a winding up.
The charity benefits from the provision of accommodation and administrative support from QF Holdings NW
Limited, a company that is controlled by certain of the Trustees of the charity. No monetary value can be
attributed to this support, and therefore il is not included in the financial slalements.
There are no other transactions ¥Arith related parties. The Trustees maintsin a register of interests, which is
updated al every meeting.
The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in
place to mitigate exposure lo the major risks.
Internal control risks are minimised by the implementation of procedures for aulhorisation of all transactions and
projects.
Procedures are in place lo ensure compliance with health and safety of staff, volunteers, clients and visitors.
On behalf of the board of Iruslees
Mr Maurice H Craft
Trustee
Dated.. 19 June 2026

THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED
ACTION AGAINST CANCER
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED
I report to the Trustees on my examination of the financial statements of The Hilary Craft Charitable Foundation
Limited (the charityl for the year ended 30 September 2025.
Responsibilities and basis of report
As the Trustees of the charity land also ils directors for the purposes of company lawl, you are responsible for the
preparation of the financial statements in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the financial slalements of the charity are not required lo be audited under Part 16 of
the Companies Act 2006 and are eligible for independent examination. I report in respect of my examination of the
charity's financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination
I have followed the Directions given by the Charity Commission under section 1451511bl of the CharitiesAct 2011.
Independent examln&rfs statement
Since the charity's gross income ex￿eded £250,000, the independent examiner musl be a member of a body listed
in section 145 of the Charities Act 2011. 1 confirm that l am qualified lo undertake the examinats.on because l am a
member of ICAEW, which is one of the Iisled bodies.
I have completed my examination. I confirm that no matters have come lo my attention in connection with the
examination giving me cause lo believe that In any material respect..
accounting records were not kept in respect of the charity as required by section 386 of the Companies Act
2006.
the financial slalements do not accord with those records., or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act
2006 other than any requirement that the finanryal slalements give a true and fair view, which is not a matter
considered as part of an independent examination.. or
the financial slalements have not been prepared in accordance wth the methods and principles of the
Statement of Recommended Practi￿ for accounting and reporting by charities applicable lo charities
preparing their financial slalements In accordan￿ wth the Financial Reporting Standard applicable In the UK
and Republic of Ireland IFRS 1021.
I have no concems and have come across no other matters in connection with the examination lo which attention
should be drawn in this ￿port in order lo enable a proper understanding of the financial slalements lo bè reached.
(o
JS. Accountants & Business Advisors Limited
PeterAtkinson F.C.A
James House
Stonecross Business Park
Yew Tree Way
Warrington
Cheshire
WA3 3JD
Dated..
24-Jun-2026

THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED
ACTION AGAINST CANCER
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Current financial year
Unrestrlcted Restrlcted
funds
funds
2025
2025
Total
Total
2025
2024
Notes
Income from-
Voluntary income
Investments
132,095
$4,469
71,340
203.435
64,469
464,881
74,795
Totsl Income
196,584
71,340
267,904
539,676
Ex
endlture on:
Raising funds
76,033
76,033
75,129
Charitable activities
299,996
200,927
500,923
421,250
Total
376,029
200,927
576,956
496,379
Net lexpenditurellincome for the yearl
Net movement In funds
1179,4851 1129,5871 1309.052}
43,297
Fund balances al 1 October 2024
1,729,290
360,822 2,090,112 2,046,815
Fund balances at 30 September 2025
1,549,825
231,235
1,781,060
2,090,112
The statement of financial aclivilies indudes all gains and losses recognised in the year. All income and expenditure
derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account
under the Companies Act 2006.

THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED
ACTION AGAINST CANCER
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Prior financial year
Unrestrlcted Re$trlcted
funds
funds
2024
2024
Totsl
2024
Notes
Income from-
Voluntary income
Investments
105,563
74,795
359.318
464,881
74,795
Totsl Income
180,358
359,318
539,676
Ex
endlture on:
Raising funds
75,129
75,129
Charitable activities
322,798
98,452
421,250
Total
397,927
98,452
496,379
Not lexpgndllurglllncome for th& yearl
Net movement in funds
1217,5691
260,866
43,297
Fund balances al 1 October 2023
1,946,859
99,956
2,046,815
Fund balancos at 30 Sgptgmber 2024
1,729,290
360,822
2,090,112
The statement of financial activities indudes all gains and losses recognised in the year. All income and expenditure
derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account
under the Companies Act 2006.

THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED
ACTION AGAINST CANCER
BALANCE SHEET
AS AT 30 SEPTEMBER 2025
2025
2024
Notes
Current assets
Debtors
Cash at bank and in hand
10
436
2,157,258
1,829,262
1,829,262
2,157,694
Creditors- amounts falling due within
one year
11
148,2021
167,5821
Net current assets
1,781,060
2,090,112
Funds of the charlty
Restricted funds
Unrestricted funds..
General unreslricled ftjnds
Designated funds
231,235
360,822
567.950
981,875
567,881
1,161,409
1,781,060
2,090,112
The company is entitled lo the exemption from the audit requirement contained in section 477 of the Companies Act
2006, for the year ended 30 September 2025.
The directors acknoTMedge their responsibilities for complying with the requirements of the Companies Act 2006
with respect lo accounting records and the preparation of financial statements.
The members have not required the company lo obtain an audit of its financial statements for the year in question
in accordance with section 476.
These financial statements have been prepared in accordan￿ with the provisions applicable lo companies subject
to the small companies regime.
The financial statements were approved by the Trustees on 19 June 2026
Mr Maurice H Craft
Trustee
Company Registration No. 07767248
10-

THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED
ACTION AGAINST CANCER
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2025
2024
Notes
Cash flows from operatlng actlvltles
Cash absorbed by operalions
18
1392,4651
117,5571
Invgstlng actlvltl&s
Investment income re￿iVed
64,469
74,795
Net cash generated from investing activities
64,469
74,795
Nat Cash ggngrat9d from flnan¢lng actlvltl8s
Net Idecreasevlncrease In cash and cash
equlvalents
1327,9961
57,238
Cash and cash equivalents at beginning of year
2,157,258
2,100,020
Cayh and cash equivalents at end of year
1,829,262
2,157,258

THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED
ACTION AGAINST CANCER
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Accounting policies
Charity inforniation
The Hilary Craft Charitsble Foundation Limited is a private company limited by guarantee incorporated in
England and Wales and a registered charity in England and Wales. The registered office is 2 Regency
Chambers, Jubilee Way, Bury, Lancashire, BL9 OJW.
1.1 Accountlng conventlon
The financial statements have been prepared in accordance with the charity's governing document. the
Companies Act 2006 and °Accounling and Reporting by Charities.. Statement of Recommended Practice
applicable lo charities preparing their accounts in accordan￿ wth the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021° las amended for accounting periods commencing
from 1 January 20161. The charity is a Public Benefit Enlily as defined by FRS 102.
The financial statements are prepared In slerfing, which is the functional currency of the charity. Monetary
amounts in these financial stslemenls are rounded lo the nearest £.
The financial slalements have been prepared under the historical cost convention. The principal accounting
policies adopted are sel out below.
1.2 Going concern
Al the time of approving the financial ststemenls, the Trustees have a reasonable expectation that the charity
has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees
continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable
objectives.
Reslricled funds are subject lo speafic conditions by donors as to how they may be used. The purposes and
uses of the restricted funds are set out in the notes to the accounts.
1.4 Income
Income is recognised when the charity is legally entitled lo it after any performance Conditions have been met,
the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified
of the donation, unless performance condrfcions require deferral of the amount. Income lax recoverable in
relation to donations received under GiftAid or deeds of covenant is recognised at the lime of the donation.
Legacies are recognised on receipt or othenNise rf the charity has been notified of an impending distribution.
the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a
contingent asset.
Donated services are recognised as income when the charity has control over the item, any conditions
associated with the item have been mel, the receipt of the economic benefit from the use by the charity of the
item is probable and the the economic benefit can be measured reliably.
On re￿ipt, donated services are recognised on the basis of the value of the gift to the charity which is the
amount the charity would be willing lo pay lo obtain ServI￿S or facilities of equivalent economic benefit on the
open market,. a corresponding amount is then recognised in expenditure in the period of receipt.
12-

THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED
ACTION AGAINST CANCER
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Accountlng pollcles
Icontlnuedl
1.5 Expendltu
Expenditure is recognised on the accruals basis.
Fundraising costs are those incurred in generating funds and do not include the costs of disseminating
information in support of the charitsble aclivilies.
Support costs are those cost incurred directly in support of expenditure of the objects of the charity.
Overhead costs are allocated on the basis of the actual spend by aclivily.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held al call wlh banks, olhei short-lerm liquid
investments with original malurilies of th￿e months or less, and bank overdrafts. Bank overdrafts are shown
thin borrowings in current liabilities.
1.7 Flnanclal Instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12
'other Financial Instruments Issues, of FRS 102 to all of ils finanaal instruments.
Financial instruments are recognised In the charity's balance sheet when the charity becomes party lo the
conlraclual provisions of the Inslrumenl.
Financial assets and liabilities are offset, with the net amounts presented in the financial slatemenls, when
there is a legally enfOr￿able right to sel off the recognised amounts and there is an intention to sellle on a nel
basis or to realise the asset and setue the liability simLJltaneously.
8aslc flnanclal assets
Basic finanaal assets, which include debtors are initially measured al transaction price including transaction
costs and are subsequently carried al amortised cost using the effective interest method unless the
arrangement conslitules a financing Iransaclion, where the transaction is measured at the present value of the
future receipts discounted al a markèt rale of interest. Financial assets classified as receivable within one year
are not amortised.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or
are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of
ownership to another enb'ty, or if some significant risks and rewards of ownership are retained but control of
the asset has transferred lo another party that is able lo sell the asset in its entirely to an unrelated third paty.
Basic financial liabilities
Basic financial liabilities, including creditors are initially recognised al transaction price unless the
arrangemènt conslitules a financing transaction, where the debt instrument is measured al the present value
of the future payments discounted al a market rate of interest. Financial liabilities classified as payable within
one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as CLJrrent liabilities if payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially al
transaction price and subsequenuy measured al amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derècognised when the charity's contractual obligations expire or are discharged or
cancelled.
13-

THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED
ACTION AGAINST CANCER
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Accountlng pollcles
Icontlnuedl
1.8 Employee beneflts
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are
received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed
lo lerminale the employment of an employee or to piovide lerminalion benefits.
1.9 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Income from donatlons and legacles
Unrestricted Restricted
funds
funds
2025
2025
Total Unrestricted Restricted
funds
funds
2024
2024
Total
2025
2024
Donations and gifts
Fundraising events
77,837
54,258
71,340
149,177
54,258
80,301
25.262
359,318
439,619
25,262
132,095
71,340
203,435
105,563
359,318
464,881
Income from Inv&stments
Unrestrlcted Unrestrlcted
funds
funds
2025
2024
Interest receivable
64,469
74,795
Raising funds
Unrestricted Unrestricted
funds
funds
2025
2024
Costs of generating voluntary income
Travelling and subsisten
Printing, stslionery and postsge
Fundraising expenses
Other expenses
Advertising
Stsff costs
Insurance
1,250
1,035
305
93
410
168
737
72,827
987
72.177
1,173
Costs of ganerating voluntary income
76,033
75,129
14-

THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED
ACTION AGAINST CANCER
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Charitable activitie5
Unrestricted Restricted
2025
2025
Totsl Unrestricted Restricted
2025
2024
2024
Total
2024
LMTK3 drug development
Cancer stem cells research
Pancreatic cancer research
Genetic switches
Breast cancer research
Understanding the cancer
brain
ARU Laboratory
119,509
119,509
567
11,267
17,255
140,922
50.599
57,231
50,599
61,220
567
10,000
3,989
1,267
17,255
127,642
42,671
169,430
2,389
25,790
45,040
195,220
13,280
24,188
24,188
177,080
177,080
66,304
66,304
289,861
200,927
490,788
319,931
98,452
418,383
Cost of fundraising
activities
Share of governance costs
(see note 61
8,970
6,970
3,165
3,165
2,867
2,867
299,996
200,927
500,923
322,798
98,452
421,250
Analysis by fund
Unrestricted funds
Restricted funds
299,998
299,996
200,927
322.798
322.798
98,452
200,927
98,452
299,998
200,927
500,923
322,798
98,452
421,250
Support costs
Governance costs
2025
2024
Independent examination fees
Bank charges
Professional fees
2,000
820
345
2,000
820
345
2,000
570
297
3.165
3,165
2,867
Analysed between
Charitable activities
3,165
3,165
Govemance costs include £2,00012024.. £2,000) in relation lo accountancy fees payable lo the Independent
examiner. These services were donated by the independent examiner and hence are included within voluntary
income.
15-

THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED
ACTION AGAINST CANCER
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Trustees
None of the Trustees lor any persons connected wth them) received any remuneration or benefits from the
charity during the year. A close family member of a trustee was remunerated for adminislralive services
provided In the year lolalling £15,00012024.. £15,000).
Employees
The average monthly number employees during the year was..
2025
Number
2024
Number
Management
Employment costs
2026
2024
Wages and salaries
Social security costs
Other pension costs
68,810
2,046
1,321
69,690
1,816
1,321
72,177
72,827
No employees had annual remuneration of £60,000 or more.
Action Against Cancer is currently funding a number of PhD sludenlships and fellowships al Imperial College
London. the University of Sussex and Anglia Ruskin University Cambridge lo support the research work.
Taxation
The charity is exempl from lax on income and gains falling within section 505 of the Taxes Act 1988 or section
252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied lo ils charitable objects.
10 Debtors
2025
2024
Amounts falling due within one year:
Prepayments and accrued income
436
16-

THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED
ACTION AGAINST CANCER
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 30 SEPTEMBER 2025
11 Creditors: amounts falling due within one year
2025
2024
Trade creditors
Other creditors
46,375
1,827
65,762
1,820
48,202
67,582
12 Restrictèd funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust
subject lo specific conditions by donors as to how they may be used.
Movement in funds
Income Expendf(ure Balance at
l October
2024
Movement in funds
Income Expenditure
Balance at
1 Octob8r
2023
Balance at
30 Septemb8r
202S
ARU Laboratory
Cancer stem cells
research
Breast cancer research
Genetic switches
Pancreatic cancer
95,967 331,159
166,3041 360,822
17,500 1177,0801
201,242
3,989
13,9891
125,7901
12,3691
30,560
13,280
15671
113,2801
29,993
25,790
2,369
10,000
110,0001
99,956 359,318
98,452 360,822
71,340
200,927
231,235
The research work being undertaken is described in detail in the Trustees, Report under Research Themes.
17-

THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED
ACTION AGAINST CANCER
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 30 SEPTEMBER 2025
13 Designated funds
Out of the lolal funds of £1,781,060 available, including unrestricted income, funds have been awarded lo
approved projects where planned ftjlure expenditure over the next years is calculated lo be £1.213,110.
Of this, £231,235 are restricted funds and £981,875 are unrestrided funds.
Designated fvnds were awarded to projects wthin the research themes shown in the table below.
Programme area
Genetic Swtches
LMTK3
CSC'S
UCB
Metastasis
ARU Laboratory
Total
Funds designated
170,755
685,896
104,769
34,302
9,388
208,000
1,213,110
Restricted
29,993
Unrestricted
140,762
685,896
104,769
34.302
9,388
6,758
981,875
14.1
56.5
201,242
231,235
17.1
100
14 Analys1$ of net a$$gts betW99n funds
Unrestricted
funds
2025
Restricted
funds
2025
Total Unrestricted
funds
2024
Restricted
funds
2024
Total
2025
2024
Fund balances al
30 September 2025
are represented by..
Current
1,549,825
231,235
1,781,060
1,729,290
360,822
2,090,112
1,549,825
231,235
1,781,060
1,729,290
360,822
2,090,112
15 Related party transactlons
Other than as disclosed in note 7, there were no disclosable related party transactions during the year12024 -
none).
16 Cash absorbed by operatlons
2025
2024
{Defirytllsurplus for the year
1309,0521
43.297
Adlustments for:
Investment income recognised in statement Df financial activities
164,4691
174,7951
Movements In worklng capltsl:
Decrease in dèbtors
IDecreasellin¢rease in creditors
436
119,3801
13,941
Cash absorbed by operations
1392,4651
117,5571
18-

THE HILARY CRAFT CHARITABLE FOUNDATION LIMITED
ACTION AGAINST CANCER
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 30 SEPTEMBER 2025
17 Anatysis of changes in net funds
The charity had no material debt during the year.
19-