Docusign Envelope ID.. 610F4B6E4DE445B8-BB61-729F3E6618CE
CHARITY NUMBER: 1156027
PROSTATE CANCER RESEARCH
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Prostate
l •• Cancer
pcr.org.uk

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PROSTATE CANCER RESEARCH
CONTENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page
Reference and administrative information
Chair's Letter
CEO Review
Trustees, Report
4-10
Independent Auditorfs Report
Statement of Financial Activities
15
Balance Sheet
16
Statement of Cash Flows
17
Notes to the Financial Statements
18-33

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REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31 MARCH 2025
CHARITY NAME
Prostate Cancer Research
CHARITY REGISTRATION NUMBER
1156027
REGISTERED OFFICE &
PRINCIPAL OFFICE
Suite 2
23-24 Great James Street
London
WC1N 3ES
TRUSTEES
Mark Clark
Ben Monro-Davies
Suman Shirodkar MBBS, PHD
Richard Collier
Jonathan Badger
Marcella Turner
Louisa Fleur
Simon Crabb
Karen Blyth
Magnus Hibbert
Alex Davis
Nick Jones
Soeren Moeller (appointed 16th July 2024)
Clare Phillips (appointed 241h June 2025)
Neil Mackison (appointed 4th July 2025)
Professor Philip Cornford (appointed 1st August 2025)
Shaun Grady (resigned 26th March 2025)
Trevor Back (resigned 1st October 2024)
EXECUTIVE DIRECTOR
Oliver Kemp MBE (CEO)
HONORARY TREASURER
Ceri Evans
BANKERS
Lloyds TSB
Oxford Street
London
BX1 1LT
HSBC
39 Tottenham Court Road
London
W1T 2AR
Barclays Bank plc
London Bridge Branch
29 Borough High Street
London
SE1 1LY
AUDITOR
Moore Kingston Smith LLP
6th Floor, g Appold Street
London
EC2A 2AP
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CHAIR'S LErrER
FOR THE YEAR ENDED 31 MARCH 2025
l am delighted to report that 2024125 marked another year of record performance for Prostste Cancer Research
(°PCR"). Income increased by 6°A, to £5.2 million, thanks to the unwavering innovation, commitment and
enthusiasm of our people, our wonderful network of supporters and donors and our collaboratsve ecosystem. Set
against a continued challenging funding backdrop for the entire charity sector, this performance is all the more
impressive when you also consider that we faced exacting prior-year comparisons, due to the exceptional level
of legacies that we received in 2023124 as well as the ending of a government funding scheme for early career
researchers (the UKRI initiative. which was brought in during the pandemic). This new high in income allowed
PCR to significantly expand its activities in patient projects, inffluencing 2nd advocacy, and translational research
as well as to fund over 20 academic research and health inequity projects. The impact of the charity continued to
grow across a range of measures - hospital and pakn'ent sign-ups to our information resources, the success of our
community Outreach projects, and award-winning media campaigns to name but a few - reflecting our absolute
focus on the patient community we serve and their lived experience.
Taking a step back, 2024125 saw the successful delivery of the first year of the bold new strategy for 2024-2027
which I highlighted in my letter last year. This seeks to accelerate our Mission to be a patient-centric charity
dedicated to saving and improving lives by supporting the best research and ideas, ensuring they reach every
part of society. Built on our core principles of Innovation. Accountability. Collaboration and Empathy, our strategic
goals are to.. empower a more equitable prostate cancer community., build a translational research ecosystem.,
fund research that drives transformation,. generate sustainable growth in fundraising and efficient operations; and
get prostate cancer on the agenda. PCR has already made strong progress against key performance indicators
for each goal. For example=
Our #ProactiveForYourProstate campaign has so far galvanised a network of 135,000 men in influencing
change as well as 10 partner companies and organisations. substantially exceeding our stated target of
engaging at least 50,000 men.
We are in the process of rolling out new grant rounds, respectively for the critical issue of bone metastases
(in a novel collaboration with Breast Cancer Now) and for health inequities.
We have made further translational research investments. helping bridge the gap be￿een innovators,
investors, healthcare, and patients.
We are increasingly excited by the potential of Prostate Progress, our unique NHS-partnered patient database,
to provide a holistic view of prostate cancer treatment, highlighting treatment differences and inequities, and
paving the way for improved clinical trial recruiknent and greater adoption of personalised medicine.
Our cost benefit analysis, making the case for immediate screening of men at high risk of prostate cancer,
received a tremendous reception at the House of Commons and has helped us to co-form (with our friends at
Prostate Cancer UK) the first All Paty Parliamentary Group {"APPG") for prostate cancer.
Lastly, we are confident we are on track to increase our income to over £7 million by 2026127.
As Chair, my focus has additionally been on enhancing PCR'S governance practices through the addition of new
Board sub-committees (People & Culture, Science Strategy) and some wonderful new Trustee appointments who
will help us to deliver even more powerfully on behalf of our patient community. We were also delighted to be
joined in recent months by two influential new Ambassadors who will help us advance our cause, namely former
Prime Minister Rishi Sunak and highly respected joumalist Dermot Murnaghan - each is a strong and impassioned
supporter of our campaign fora national screening programme for men at higher risk of prostate cancer. Together,
we believe we are on the cusp of changing the way prostate cancer is screened, diagnosed and treated.
In closing, let me once more say a huge thank you to everyone who has supported PCR over the past year. We
recognise that we are fortunate to have such an engaged, generous and motivated community. By combining our
shared passion and commitment to overcoming the challenges of this disease, we have a realistic, achievable
target of a future in which there is no need to fear prostate cancer.
Mark Clark,
Chair of Trustees
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CEO REVIEW
FOR THE YEAR ENDED 31 MARCH 2025
Last year was the first full year of delivery on our bold new strategy and already, we're seeing the transformation
it enables. We've expanded our research, grown our influence, and deepened our connection to the experience
of patients. With the right tools. people and partnerships in place, Prostate Cancer Research is exceptionally
positioned to view the entire prostate cancer landscape and precisely target the areas where we can achieve the
greatest impact.
After five years of hard work Pmstate PM9￿ss, our NHS-partnered patient data plafform is on the cusp of linking
real-world patient experience to clinical records for the first time in the UK. It will offer a panoramic view of what's
working, and what isn't across the system. This allows us not only to highlight disparities and inefficiencies but to
shape smart, evidence-based solutions. We are now actively working with clinicians, researchers and
policymakers to use these insights to improve outcomes and reduce harm.
This same strategic clarity is guiding how and where we support spin outs and early-stage companies. Over the
past year, we've significantly expanded our new translational research programmes, which focus on lowering the
cost and increasing the effectiveness of diagnosts-cs. These programmes include support for promising tools in
imaging as well as critical innovations that can help patients receive faster, more accurate diagnoses while
reducing pressure on the system. We are leveraging our data insights and the Translating and Accelerating
Research (TAR) network of non-profits to influence policy and ensure the most promising ideas don't stall in the
lab, but make it to the people who need them most.
Our cost-benefit analysis work continues to shape national debate. The response to our modelling on targeted
screening has been extraordinary. It has helped catalyse the formation of the first All Party Parliamentary Group
on prostate cancer and is pushing the casefor a smarter, fasterdiagnostic pathway one that could save thousands
of lives every year.
We're also proud that in 8 challenging funding environment, we've sustained growth while staying true to our
mission. We've expanded our patient projects. delivered award-winning awareness campaigns, and partnered
with peers like Breast Cancer Now to tackle issues like bone metastases and health inequities. We are on track
to exceed our £7 million income target by 2026127, butthis is about more than growth-it's about impact, precision,
and purpose.
None of this progress would be possible without the culture that underpins it. We retain staff at six times the sector
average by creating an environment where people are trusted. supported. and given the freedom to innovate. Our
culture is built on purpose, but sustained by autonomy-by allowing smart. committed people to do their best work
without unnecessary constraint. It's a Cultu￿ that attracts world-class talent and keeps them focused on what
matters most: the difference we can make together
This year has shown that when you combine deep empathy with rigorous evidence, bold innovation, and a culture
that empowers people, extraordinary things happen. To every donor. partner, patient, researcher. and staff
member.. thank you. Because of you, we are no longerjust reacting to prostate cancer, we are shaping the future
of how it is understood, diagnosed, and treated.
Together, we are making the future of prostate cancer smarter, fairer. and ultimately, beatable.
OoAJlW Eejmp
Oliver Kemp
Chief Executive Officer
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TRUSTEES, REPORT
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Ob'ectives and Activities
The objects of the charity are the promotion of medical and scientific research into the causes and treatment of
cancer and related diseases and the dissemination of the useful results thereof.
Our vision is a worfd where people are free from the impact of prostate cancer.
Our mission is that together, we will develop and deliver breakthrough medicines and treatments.
Academic Research Hi
hts
In 2024125, we expanded our research portFolio with a strong focus on community engagement, equity, and
implementation. Two major projects illustrate this shift-
Empowering Communities.. This multi-year project supports 4-6 community-based organisations and
works with over 200 healthcare professionals to improve culturally competent care for high-risk groups,
particularly Black men. It aims to build trust and increase participation in clinical trials, benefitting an
estimated 9,000 people over three years.
REMOVE.. This wellbeing-focused project works with groups of people living with or at high risk of
prostate cancer, building their resilience and health through guided online sessions delivered by a
professional trainer. REMOVE helps participants develop sustainable health habits and connect with
others sharing similar experiences, improving mental and physical wellbeing.
Our racial disparities research programme, launched in 2021, now includes ten active projects across the UK
and US, with investment exceeding £2 million. These projects are informing national and international
conversations about health equity in prostate cancer.
Over the past five years, we have now invested over £7 million into prostate cancer research. Our research
portfolio also includes..
A diverse pipeline of therapeutic innovation including radioligand therapy, DNA damage repair, hormone
resistance, and metastasis prevention.
Next-generation diagnostic approaches. aimed at detecting prostate cancer earlier and more accurately.
Social science and p8tlent-￿ntred research. particularly addressing barriers to diagnosis and treatment
in underserved communities.
Translational Research Hi
hts
Our translational research arm, Proven Connect, continued to support emerging life science companies and
collaborative initiatives through a combination of funding, strategic guidance, and access to expert ne￿OrkS.
Our hands-on support helps ventures and alliances navigate early-stage development, strengthen business
models. and accelerate clinical impact. This includes running the TAR Network. a consortium of c.40 non-profits
working together to accelerate the delivery of targeted therapies. Investments in the year included..
£50,000 investment in Stratosvir Limited. Viruses can be engineered to carry drugs directly to tumours
and kill them, but they are often detected and killed by the immune system in the blood stream. Stratosvir
have developed a new technology which hides the virus from the immune responses, successfully
delivering treatment whilst evading attack from the immune system.
£50,000 investment in Oxford Vacmedix who are developing a new vaccine which will make the body's
natural defence, the immune system, recognise and kill solid tumour cells. The vaccine is currently in
Phase 1 clinical trials.
£50,000 investment in Nanovery who have created 'nanorobots' which are able to detect cancer at early
stages and light up when they capture a cancer marker. They have the potential to make testing 1 Ox
cheaper and 1 OOX faster. This increases the Charity's investment to £100,000 at the year end.
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Patient Pro
ect Hi
hts
In 2023, we launched the Infopool, an online platform providing reliable, accessible health information created by
and for people affected by prostate cancer. By the end of 2025. we expect to meet all key performance targets.
Nearly 200 hospitals have been signposting to the plafform, and it has already reached around 250,000 users. In
2024125, we began work on the next iteration of the infopool that incorporates patient feedback, improved
navigation. and new content formats to better serve the evolving needs of the prostate cancer community.
We also launched a new wellbeing project in partnership with Guy's and St Thomas,, supporting men with prostate
cancer through tailored physical activity. mental wellbeing resources. and peer support. This pilot aims to build
resilience, reduce isolation, and improve long-term health outcomes for those navigating diagnosis, treatment, or
survivorship.
Our webinar series. "What to Expect.. A Guide to Prostate Cancer," also continued to engage patients and their
families, with over 6,000 views.
Influencin
hts
In 2024125, our policy work reached new heights. We engaged directly with senior political figures including the
Chancellor, Secretary of Slate for Health, arid Shadow Secretary of Slate for Heallh, advocating for prostale
cancer to be prioritised in national screening efforts.
We completed a comprehensive Cost-Benefit Analysis (CBA) in early 2024125. The analysis demonstrates that
earlier detection of prostate cancer especially among high-risk groups not only saves lives but provides significant
financial savings to the NHS and UK economy. This evidence forms the backbone of our national campaign to
expand screening and reduce late diagnoses.
Team Hi
hts
We were delighted to welcome Soren Fryland Moller to our Board this year. Soren brings deep expertise in finance
and research, and he has joined our Finance, Audit & Risk board sub-committee to help strengthen our financial
oversight as we grow. H is insight and experience in driving innovative research initiatives will be invaluable as we
continue to advance our mission. His appointment strengthens our commitment to making a meaningful
difference, and we are excited to have his leadership on board.
We also said goodbye to Trevor Back in October, who stepped back due to work commitments but has kindly
offered to stay on Proven Connect's TSAC (translational science advisory committee), and Shaun Grady in March,
who stepped down after many years of valued service on our Board. We thank them both sincerely for their
contributions and wish Shaun every success in his new roles as Chair of Astrazeneca UK and, from January
2026, Chair of the UK'S Biolndustry Association (BIA).
Post year end we also welcomed Clare Phillips. Neil Mackison and Professor Philip Cornford to the Board.
Pro
ress A
ainst Our 2024-27 Strate
Although research expenditure was lower in 2024-25, driven in large part by the loss of the UKRI initiative, we
remain focused on delivering the ambitious goal of doubling our research funding by 2027. We have several new
partnerships in place with other medical research charities that should contribute significandy to this goal in the
final year of our 2024-2027 strategy. We are also on target to accelerate 12 biotech ventures and engage 50,000
men in driving change and building a more equitable prostate cancer community. Our progress so far reflects both
the urgency of our mission and the strength of our approach. Below is a summary of how we are advancing across
our five strategic priorities:
1. Building a Translational Research Ecosystem
By 2027, Prostate Cancer Research (PCR) will have built a thriving ecosystem that connects academic research,
clinical insights, and biotech ventures. Proven Connect, our translational am, is already working to accelerate 12
early-stage companies, pushing for groundbreaking research to reach the patient community. We're working
towards the creation of a £1 million philanthropic investment fund to boost our translational research, already
attracting co-investment opportunities. Additionally, our investment in building this ecosystem will lead to sever21
biotech ventures achieving substantial venture capital funding within the next three years.
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2. Research Driving Transformation
Research remains at the core of PCR'S mission. and we're setting the stage to double our funding for high-impact
research projects by 2027. By ensuring that every high-potential project receives funding, we are laying the
groundwork for tr2nsform2tive breakthroughs in prostate cancer diagnostics and treatments. We're already
forging new partnerships to co-fund research and fostering innovation through seed grants. Our aim is to integrate
patient involvement more deeply into our research efforts. allowing us to target the most pressing needs and
advance the Scien￿ faster and more inclusively.
3. Empowering a More Equitable Prostate Cancer Community
We are committed to ensuring that the benefits of prostate cancer research reach every comer of society. By
2027, we aim to empower 250,000 men with improved knowledge and understanding of prostate cancer,
treatment options, and preventive measures through our infopool platform. Our ongoing work with underserved
communities, particularly Black men who are disproportionately affected by the disease, is already making a
significant impact. We are well on track with the rollout of Prostate Progress, which had already onboarded 4,000
participants by the end of 2024, further enhancing patient engagement and inclusivity.
4. Getting Prostate Cancer on the Agenda
PCR is transitioning from a reactive approach to a proactive. strategic influence in the public and policy spaces.
Our advocacy efforts are already expanding. with over 20,000 individuals engaged in influencing change and
securing commitments for better prostate cancer care. By 2027, we planned to triple our database of supporters
to 50,000 and we achieved that in 20241 We are using data and research to inform policy decisions and drive
forward national and international screening campaigns. Our campaign will also focus on securing sustainable
funding for prostate cancer care, including government investments for essential infrastructure and resources.
5. Sustainable Growth in Fundraising and Efficient Operations
To support our ambitious targets, we are diversifying our fundraising strategies to ensure that our growth is both
sustainable and impactful. In 2024125, we reached the £5 million income mark for the first time, underscoring our
capacity to achieve significant growth. Our aim to reach more than £7 million of income by 2027 is supported by
a robust mix of fundraising initiatives, strategic partnerships, and a focused approach to relationship-bLJilding. We
are also committed to increasing operational efficiency, leveraging data to guide decision-making, and fostering
a culture of innovation within our team. With the expansion of our fundraising capacity and operational
improvements, PCR is positioning itself as a financially resilient and dynamic organisation that will continue to
make 8 lasting impact in prostate cancer research and care.
Financial Revbew
Income
2024125 marked another solid financial yearfor PCR. building upon previous fundraising successes, though facing
some challenges in specific areas. While corporate fundraising experienced a slight decline, we sustained our
strategic investments in fundraising infrastructure, patient engagement initiatives, and trans12tion21 research,
positioning us well for future growth.
Trusts and Statutory Fundraising.. Our trust and statutory fundraising remained robust, securing continued
support from multiple funders. Significant grants awarded supported ongoing research, patient engagement, and
innovative initiatives, including continuation funding for Early Career Researchers, pab'ent support programmes,
and our Infopool resources.
Corporate Fundraising.. Corporate fundraising experienced a reduction compared to the previous year. However,
we maintained strong relationships with major pharmaceutical and biotech companies, including Astrazeneca,
Novartis and Bayer, continuing to support the ongoing development and expansion of our data platform,
educational grants, and patient-centric research projects.
Events and Individual Giving.. Our events programme and individual giving significantly exceeded expectations,
delivering exceptional results. Major events such as the London Marathon and Snowdon for Science attracted
outstanding support and participation, greatly surpassing targets. Individual giving also experienced remarkable
growth, reflecting the unwavering generosity and commitment of our regular donors and the wider supporter
community.
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Legacies.. Legacy income continued to provide essential unrestricted funds, though performance was slightly
below the exceptional levels achieved in 2023124. Thisfunding source continues to be crucial in providing strategic
flexibility and supporting innovation in critical areas of patient care and research.
enditure
Our expenditure increased as we continued to make strategic investments across charitable activities. Key
investment areas included..
Charitable Activities.. We increased expenditure on charitable activities, continuing to fund a robust and
expanding portfolio of research, patient engagement. and translational research initiatives. Projects such as the
infopool and Prostate Progress received targeted investments to maximize impact and outcomes. In addition, the
Board of Trustees determined, in consultation with our auditors, that grant and operational expenditures for our
US subsidiary, PCR Inc., should be treated for accounting purposes consistently with our UK activities and
expensed as incurred rather than treated as an increasing debtor balance. Consequently, the Trustees agreed a
one-time write down of the balance of the loan to PCR Inc.. amounting to £744,000 over several years. We remain
committed to increasing charitable expenditure to meet our 800A spend target.
Fundraising Costs- Investment in fundraising infrastructure and team capacity remained a priority, ensuring
sustainable and unrestricted income streams. We focused on cultivating and stewarding high-value relationships,
including major donors and corporate partners. to maintain long-term financial resilience.
Reserves
PCR concluded the financial year with a reduction in reserves of approximately £880,000 due to increased
spending in both fundraising and charitable activities and write-off of a debtor balance of £744,000 with PCR Inc.,
which represented grant expenditure and supporting costs incurred in the United States over a number of years
to advance the objects of the charity. Despite this decrease, general reserves remain at £970,000.
At the year-end the restricted funds were £753,000 (2024: £232,000), designated funds were £881,000 (2024..
£2.4 million) and general reserves were £970,000 {2024.. £846,000)- During the year the trustees approved the
transfer of £1.5 million of designated funds, held for future research grants, and £50,000 of restricted funds to
general funds.
Our reserves policy has been being modified to adopta risk-based approach requiring free reserves of £1.7 million
to provide a stable foundation for delivering our strategic goals. We are actively working on strategies to close this
gap over the mid term, increasing voluntsry income and identifying sustainable methods to ensure Gompliance
with the revised reserves policy and to support our strategic growth objectives. General reserves amount to
£970,000. with £790.000 represented by investments and intangibles that support long-tem stabilities.
Future Outlook
Looking ahead to 2025126, we are confident that PCR is well-positioned to continue its trajectory of growth. The
investments we have made in our research, translational initiatives, patient engagement, and fundraising capacity
are expected to deliver returns in both financial terms and impact for patients.
Structure Governance and Mana
ement
PCR continues to operate as a Charitable Incorporated Organisation (CIO), with its main purpose being the
promotion of medical and scientific research into the causes and treatment of prostate cancer. Our govemance
structure ensures we meet the highest standards of accountability, transparency, and effectiveness.
Trustees and Leadershi
The trustees are responsible for setting the strategic direction of the charity, with four meetings held annually to
review finance, risk management, govemance, fundraising, and research strategies. The trustees are supported
by two sub-committees: Fundraising and Finance, Audit & Risk, both of which meet quarterly to ensure the charity
remains on track to achieve its objectives. During the year, two additional sub-committees have been created to
provide additional support and governance on People & Culture and on Science Strategy.
The day-to-day operations of the charity are overseen by our Chief Executive, Oliver Kemp, alongside the senior
management team, who have continued to drive the organisation's growth while upholding the highest standards
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of governance and risk management. The trustees are also kept informed about broader charity sector matters
through updates from the CEO and their roles in other organisations.
Public Benefit
The trustees continue to confirm that they have complied with the Charities Act 2011 by ensunng that all of PCR'S
activities are designed to deliver clear public benefit. The charity's research improves survival and quality of life
for men affected by prostate cancer, while our patient projects directly engage with those affected to provide vital
information and support. The dissemination of our research results and the engagement of patients in the
development of new research strategies ensures that the charity's work remains focused on tangible outcomes
that benefit the wider public.
Grant-makin
Polic
The charity's grant-making policy continues to focus on supporting research that will improve suNival and quality
of life for men with prostate cancer. This includes funding both early-career researchers and more established
scientists across a wide range of disciplines, including therapeutics. diagnostics. and social research.
In line with the Association of Medical Research Charities (AMRC) guidelines, we maintain rigorous peer-review
processes for all grants exceeding £50,000. Our Scientific Advisory Committee (SAC) continues to play a key role
in reviewing and approving all research proposals. ensuring that we fund only the highest-quality and most
impactful research.
Social investment Polic
The charity has also started making social investments in earfy-stage companies whose main focus is advancing
efforts to combat the disease. Decisions to invest in these start up organisations is undertaken by the Board on
regular basis with advice from the scientific team after conducting due diligence and appropriate checks.
Impairment review is completed after a full fiscal year of the investment since the acquisition date.
Dissemination of Research
We remain committed to ensuring that the results of our funded research are widely disseminated, both within the
academic community and to the general public. Over the course of 2024125, our funded researchers published
over 40 papers in high-impact journals, helping to advance the global understanding of prostate cancer. PCR staff
and researchers also presented at major international conferences, including the American Society of Clinical
Oncology (ASCO) further enhancing our reputation as a thought leader in the field.
Monitorin
act
We continue to monitor the impact of our funded research Ihrough regular progress reports, peer-reviewed
publications, and patient outcomes. Our goal remains to reduce mortality from prostate cancer and improve the
quality of life for men affected by the disease.
Fundraisin
Ourfundraising strategy remains focused on sustainable growth, with an emphasis on diversfying income streams
and increasing unrestricted funds. Our focus has been to build partnerships with other charities in order to bring
greater impact through our grant funding and start to diversify our corporate relationships. We have also continued
to significantly grow our virtual challenge events, increase our outreach to individual donors and further widen our
reach to HNWIS.
We are proud to report that PCR continues to adhere to the highest standards in fundraising ethics and practice.
As members of the Fundraising Regulator and the Institute of Fundraising, we uphold all relevant standards, and
we are pleased to confirm that we received no complaints about our fundraising activities during the year.
Volunteers
PCR continues to benefit from the generous support of volunteers, including our trustees, scientific advisors,
patient panellists, and event volunteers. Their contributions help us make better decisions, support ourfundraising
efforts, and ensure that our work remains aligned with the needs of the prostate cancer community.
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Risk Mana
ement
The trustees have considered the major risks to which the charity is exposed. The risk report assesses the"gross"
risk (GRI at the beginning of the year, calculated as likelihood (L) x impact (l) before controls (i.e. if no action were
taken) an(J the -nef risk (NR), after taking account of control procedures in Place.
Key risks, along with our mitigating actions include:
Fundraising risks such as the impact of the cost-of-living crisis on events and communityfundraising. The impact
of Covid-19 was felt significantly in recent years, and mikn'gating actions have been taken to protect our long-term
financial health. We have a number of large grants cx)ming to an end over the next 2 years and we will continue
to manage the number of new grants we authorise carefully as well as continuing our diversification of fundraising
efftjrts.
Financial risks such as 8 bank or stock market crash, which in turn could restrict our ability to fulfil grant
commitments to funded researchers. This is mitigated through our Finance, Audit and Risk committee, which is
formed of finan￿ professionals, and is responsible for deciding the balance between cash and equities, and for
advising on investments. Currently, our reserves are all held in cash and savings accounts, and we also spread
our investments over a number of banks to take advantage of the £85,000 government guarantee.
Because the trustees commit to grants, the charity has a reserves policy which requires the charity to hold
sufficient funding to allow scientists time to find alternative funding if we were to phase out grants due to a sudden
financial event or decline in fundraising as well as to wind down the charity's other activities in an orderly fashion
in the event of no further funds being available. Grants are made subject to funding being available. Rather than
focusing on the cash requirements over a specified number of months of operations, the reserves policy of the
charity is being modified to adopt a risk-based approach requiring free reserves of £1.7 million.
Trustees regularfy assess and monitor the overall financial condition of PCR. They require the preparation by
management of forward financial scenarios, which are subjected to risk and stress testing. Trustees believe they
are able to identify, at an early stage, the potential for future financial difficulties.
Scientrfic risks such as when grants are given for a research project, the charity is not in direct control over how
the money is spent. Should the money be used for some other purpose. the Charity would not be able to fulfil its
mission and there is a possibility of adverse publicity. In addition, the research that we fund may not deliver
tangible benefits. To mitigate this PCR gives grants to recognised centres of research excellence that have fully
audited procedures to monitor impact and prevent the misuse of funds. Our process for selecting research has
multiple different layers including both internal and extemal experts to ensure integrity of selection and compliance
with our conflict of interest policy. The Treasurer monitors all claims on grants and queries unusual claims.
Updates are provided by the Chairman of the Science Strategy sub-committee at each trustee meeting and the
scientists produce an annual report for each project which is evaluated independently.
Governance risks such as sudden loss of any key individuals such as Chair, Treasurer, CEO, key fundraising
staff, chair of SAC (Scientific Advisory Committee). This is mitigated by the staff motivation strategy, devising
succession plans for key positions and establishing who could take over key roles on interim basis.
Data and IT risks, such as unauthorised access to our IT systems and release of sensitive data about the
organisation, our donors or the patients that we engage with this. To address this risk, we follow IT best practices
and have conducted penetration testing of our IT systems in relation to the launch of the infopool.
Statement of trustees. res
onsibilities
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance
with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice), including FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland.
Charity law requires the trustees to prepare financial statements for each financial year. Under that law the
trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted
Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity law the trustees
must not approve the financial statements unless they are satisfied that they give a true and fair view of the state
of affairs of the charity and the results of the charity for that period.
Page 9

Docusign Envelope ID.. 610F4B6E4DE445B8-BB61-729F3E6618CE
PROSTATE CANCER RESEARCH
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2025
In preparing these financial statements, the trustees are required to..
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP (Statement of Recommended Practice)"
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any
material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concem basis unless it is inappropriate to presume that
the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the
charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and
enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible
for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection
of fraud and other irregularities.
Insofar as the trustees are aware..
there is no relevant audit information of which the charity's auditor is unaware., and
the trustees have taken all steps they ought to have taken to make themselves aware of any relevant
audit information and to establish that the auditor is aware of that information.
The maintenance and integrity of the charity'swebsite is the responsibility of the trustees. Legislation in the United
Kingdom governing the preparation and dissemination of financial statements may differfrom legislations in other
jurisdictions.
Signed on behalf of the Board of Trustees
Mark Clark
Chair of Trustees
Date
2611112025
Page 10

Docusign Envelope ID.. 610F4B6E4DE445B8-BB61-729F3E6618CE
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF PROSTATE CANCER RESEARCH
FOR THE YEAR ENDED 31 MARCH 2025
Opinion
We have audited the financial statements of Prostate Cancer Research Centre for the year ended 31 March
2025 which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cashflows and
notes to the financial statements, including 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 AC￿pted Accounting Practice).
In our opinion the financial statements-
give a true and fair view of the state of the charity's affairs as at 31 March 2025 and of its incoming
resources and application of resources. including its income and expenditure for the year then
ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice., and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with Intemational 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 seckn'on of our report. We are independent of the
charity 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.
Conclusions relating to going concern
In auditing the finan￿81 statements, we have concluded that the trustee's 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 charity's abil ity to continue
as a going concem 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 infonnation
The trustees are responsible for the other information contained within the annual report. The other
information comprises the infomation included in the annual report, other than the financial statements and
our auditor's report thereon. 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.
Our responsibility is to read the other infonnation and, in doing so, consider whether the other information
is materially inconsistent with the financial statements or our knowledge obtained in the audit or othetwise
appears to be materially misstated. If we identify such material inconsistencies or apparent material
misstatements, we are required to determine whether this gives rise to a material misstatement in the
financial statements themselves. 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.
Page 11

Docusign Envelope ID.. 610F4B6E4DE445B8-BB61-729F3E6618CE
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF PROSTATE CANCER RESEARCH
FOR THE YEAR ENDED 31 MARCH 2025
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts
and Reports) Regulations 2008 require us to report to you if, in our opinion:
the information given in the financial statements is inconsistent in any material respect with the
trustees, report., or
sufficient accounting records have not been kept. or
the financial statements are not in agreement with the accounting records and returns; or
we have not received all the information and explanations we require for our audit
Responsibilities of trustees
As explained more fully in the trustees, responsibilities statement set out on page 14, the trustees 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 charity'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 charity or to cease
operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance
with regulations made under section 154 of that Act.
Our objectives are to obtain reasonable assuran￿ 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 aggregate,
they could reasonably be expected to influence the economicdecisions of users taken on the basis of these
financial statements.
As part of an audit in accordance with ISAS (UK) we exercise professional judgement and maintain
professional scepticism throughout the audit. We also-
Identify and assess the risks of material misstatement of the financial statements. whether due to
fraud or error. design and perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from error,
as fraLsd may involve collusion, forgery, intentional omissions, misrepresentations, or the override
of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances. but not for the purposes of expressing an opinion on the
effectiveness of the charity's internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the trustees.
Page 12

Docusign Envelope ID.. 610F4B6E-8DE445B8-BB61-729F3E6618CE
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF PROSTATE CANCER RESEARCH
FOR THE YEAR ENDED 31 MARCH 2025
Conclude on the appropriateness of the trustees, use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to
events or conditions that may cast significant doubt on the charity's ability to continue as a going
concern. If we conclude that a material uncertainty exists, we are required to draw attention in
our auditor's report to the related disclosures in the financial statements or, if such disclosures
are inadequate. to modify our opinion. Our conclusions are based on the audit evidence obtained
up to the date of our auditor's report. However, future events or conditions may cause the charity
to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including
the disclosures, and whether the financial statements represent the underlying transactions and
events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned
scope and timing of the audit and significant audit findings. including any significant deficiencies in
internal control that we identify during our audit.
Explanation as to what extent the audit was considered capable of detecting irregularities,
including fraud
Irregularities. including fraud. are instances of non-compliance 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.
The objectives of our audit in respect of frdud. are., to identify and assess the risks of material
misstatement of the financial statements due to fraud- to obtain sufficient appropriate audit evidence
regarding the assessed risks of material misstatement due to fraud, through designing and implementing
appropriate responses to those assessed risks- and to respond appropriately to instances of fraud or
suspected fraud identified during the audit. However. the primary responsibility for the prevention and
detection of fraud rests with both management and those charged with governance of the charity.
Our approach was as follows:
We obtained an understanding of the legal and regulatory requirements applicable to the charity
and considered that the most significant are the Charities Act 2011, the Charity SORP, and UK
financial reporting standards as issued by the Financial Reporting Council.
We obtained an understanding of how the charity complies with these requirements by
discussions with management and those charged with govemance.
We assessed the risk of material misstatement of the financial statements, including the risk of
material misstatement due to fraud and how it might occur. by holding discussions with
management and those charged with governance.
We inquired of management and those charged with governance as to any known instances of
non-compliance or suspected non-compliance with laws and regulations.
Based on this understanding, we designed specific appropriate audit procedures to identify
instances of non-compliance with laws and regulations. This included making enquiries of
management and those charged with govemance and obtaining additional corroborative
evidence as required.
P2ge13

Docusign Envelope ID.. 610F4B6E-8DE445B8-BB61-729F3E6618CE
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF PROSTATE CANCER RESEARCH
FOR THE YEAR ENDED 31 MARCH 2025
There are inherent limitations in the audit procedures described above. We are less likely to become
aware of instances of non-complian￿ with laws and regulations that are not closely related to events
and transactions reflected in the financial statements. Also, the risk of not detecting a material
misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may
involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through
collusion.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Chapter 3 of Part 8 of
the Charities Act 2011. Our audit work has been undertaken so that we might state to the charity's
trustees 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 any paty other
than the charity and charity's trustees as a body, for our audit work, for this report, or for the opinion we
have formed.
oorL £.,k4 LLP
Moore Kingston Smith LLP
Statutory auditor
Date: 2 December 2025
6th Floor. 9 Appold Street
London, EC2A 2AP
Moore Kingston Smith LLP is eligible to act as auditor in terms of Section 1212 of the
Companies Act 2006
Page 14

Docusign Envelope ID.. 610F4B6E-8DE445B8-BB61-729F3E6618CE
PROSTATE CANCER RESEARCH
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2025
Total
Total
Notes
Unrestricted Restricted
funds
funds
funds
2025
funds
2024
Income and endowments from:
Grants, donations and legacies
Investments
4,070,298
19,542
4,820
1,083,120 5,153,418 4,885,505
19,542
20, 659
4,820
854
Other income
Total income
4,094,660
1,083,120 5,177,780 4,907,018
Expenditure on:
Raising funds
Charitable activities
1,983,520
3,561,872
1,983,520 1,247,378
512,487 4,074,359 2,898,250
Total expenditure
5,545,392
512,487 6,057,879 4, 145,628
Net movement in funds
(1,450,732)
570,633
(880,099)
761,390
Transfer of funds
16
50,000
{50,000)
Fund balances brought forward
3,252,788
232,914 3,485,702 2,724,312
Fund balances carried forward
1,852,056
753,547 2,605,603 3,485, 702
All the above results were derived from continuing activities.
The notes on pages 18 to 33 form part of these financial statements.
P2ge15

Docusign Envelope ID.. 610F4B6E-8DE445B8-BB61-729F3E6618CE
PROSTATE CANCER RESEARCH
BALANCE SHEET
AS AT 31 MARCH 2025
2025
2024
Notes
FIXED ASSETS
Property and equipment
Intangible asset
Investments
10
881.532
479,074
230.200
902, 028
250, 628
30, 200
11
12
1,590,806
1, 182,856
CURRENT ASSETS
Debtors
13
995,559
667,693
373,260
2,208, 585
259,324
755,403
Short term investments
Cash at bank and in hand
14
2,036,512
3,223,312
CREDITORS: Amounts due within one
year
15
11,021,715)
(920,466)
NET CURRENT ASSETS
1,014,797
2,302, 846
NET ASSETS
2,605,603
3,485, 702
FUNDS OF THE CHARITY
RESTRICTED
753.547
232,914
UNRESTRICTED
Designated funds
General funds
881,532
970,524
2,406,152
846, 636
TOTAL FUNDS
16 and 17
2,605,603
3,485, 702
The financial statements were approved and authorised for issue by the Board and were signed on its
behalf by=
Mark Clark
Chairman of Trustees
Date: 2611112025
The notes on pages 18 to 33 form part of these financial statements
P2ge16

Docusign Envelope ID.. 610F4B6E-8DE445B8-BB61-729F3E6618CE
PROSTATE CANCER RESEARCH
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Cash flows from operating activities:
Net cash used in operating activities
(a)
447,413
(335,282)
Cash flows from investing activities:
Investment income
Purchase of intangible assets
Purchase of investments
(Increase)Idecrease in short term investments
19,542
(240,729)
(200,000)
(408,369)
20,659
(250,628)
(30,200)
527,318
Net cash generated from investing activities
(829,556)
267, 149
Change in cash and cash equivalents in the reporting period
(382,143)
(68, 133)
Cash and cash equivalents at the beginning of the reporting period
755,403
823,536
Cash and cash equivalents at the end of the reporting period
373 260
755,403
{a) Reconciliation of net income to net cash flows from operating activities
Net income for the reporting period
Adjustment for:
Depreciation charg8
Investment income
(880,099)
761,391
32,780
{19,542)
1,213,026
101,248
20,496
(20,659)
(1,232,272)
135, 762
Decrease in debtors
Increase in creditors
Net cash used in operating activities
447,413
(335,282)
{b) Net cash
At 1 April
2024
Cash flow
At 31 March
2025
Net cash
755,403
382,143
373,260
The notes on pages 18 to 33 form part of these financial statements
P2ge17

Docusign Envelope ID.. 610F4B6E-8DE445B8-BB61-729F3E6618CE
PROSTATE CANCER RESEARCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
CHARITY INFORMATION
Prostate Cancer Research is a Charitable Incorporated Organisation (CIO) registered in the UK
(charity number 1156027) with its registered office at Suite 2, 23-24 Great James Street, London,
WC1 N 3ES. Prostate Cancer Research Centre registered as a CIO on 5 March 2014, with a deed of
amendment filed on 15 July 2014.
ACCOUNTING POLICIES
2.1 Basis of preparation
The financial statements have been prepared under the historical cost convention, as modified by the
revaluation of fixed asset investments, and in accordance with the Statement of Recommended
Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP
(FRS 102)), and the Charities Act 2011.
Prostate Cancer Research Centre meets the deflnitlon of a public benefit entity under FRS102. Assets
and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in
the relevant accounting policy note{s).
The financial statements are prepared in sterling, which is the functional currency of the company.
Monetary amounts in these financial statements are rounded to the nearest pound. The principal
accounting policies adopted are set out below.
2.2 Going Concern
The trustees have assessed whether the use of the going concern basis is appropriate and have
considered possible events or conditions that might cast signrficant doubt on the ability of the charity
to continue as a going concem. The trustees have made this assessment for a period of at least one
year from the date of approval of the financial statements. In particular, the trustees have considered
the charity's forecasts and projections and taken account of pressures on donations income. After
making enquiries, the trustees have concluded that there is a reasonable expectation that the charity
has adequate resources to continue in operational existence for the foreseeable future. The charity
therefore continues to adopt the going concern basis in preparing the financial statements.
2.3 Fund accounting policy
Unrestricted income funds are general funds that are available for use at the Trustees, discretion in
furtherance of the objectives of the charity.
Restricted funds are those donated for use in a particular area or for specific purposes, the use of
which is restricted to that area or purpose.
Designated funds are unrestricted funds set aside at the discretion of the Trustees for specific
purposes.
Further details of each fund are disclosed in note Fund note.
Page 18

Docusign Envelope ID.. 610F4B6E-8DE445B8-BB61-729F3E6618CE
PROSTATE CANCER RESEARCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.4 Income
Voluntary income including donations, legacies and grants that provide core funding or are of a general
nature is recognised where there is entitlement. certainty of receipt and the amount can be measured
with sufficient reliability. In the event that a donation is subject to conditions that require a level of
performance before the charity is entitled to the funds, the income is deferred and not recognised until
either those conditions are fully met. or the fulfilment of those conditions is wholly within the control of
the charity and it is probable that those conditions will be fulfilled in the reporting period.
Investment income is recognised on a receivable basis.
2.4 Income (continued)
For the financial year 2018119 onwards our legacy income will be recognised in the Statement of
Financial Activities (SOFA) when a transaction or other event results in an increase in the charity's
assets or a reduction in its liabilities.
Legacy income must only be recognised in the accounts of a charity when all of the following criteria
are met..
Entitlement - control over the rights or other access to the economic benefit has passed to the
charity.
2. Probable - it is more likely than not that the economic benefits associated with the transaction or
gift will flow to the charity.
3. Measurement - the monetary value or amount of the income can be measured reliably and the
costs incurred for the transaction and the costs to complete the transaction can be measured
reliably.
As the income received could fluctuate by the time it is realised we will include only 800/0 of the funds
we are notrfied of in that financial year. As and when the income arrives any additional income will be
accounted for in the financial year it arrives in.
2.5 Expenditure
Liabilities are recognised as soon as there is a legal or constructive obligation committing the Charity
to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under
headings that aggregate all costs related to the category.
Raising funds are the costs of fundraising activity.
Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities
and services for its beneficiaries. It includes both costs that can be allocated directly to such activities
and those ￿StS of an indirect nature necessary to support them.
Grants payable are payments made to third parties in the furtherance of the charitable objectives.
Where the Charity gives a grant with conditions for its payment being a specific level of service or
output to be provided, such grants are only recognised in the Statement of Financial Activities once
the recipient of the grant has provided the specific seNice or output.
Grants payable without perfomance conditions are only recognised in the accounts when a
commitment has been made and there are no conditions to be met relating to the grant which remain
in the control of the Charity-
Provisions for grants are made when the intention to make a grant has been communicated to the
recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
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Docusign Envelope ID.. 610F4B6E-8DE445B8-BB61-729F3E6618CE
PROSTATE CANCER RESEARCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.6 Fixed assets
Individual fixed assets costing £5,000 or more are initially recorded at cost.
2.7 Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any
estimated residual value. over their expected useful economic life as follows=
Long Leasehold Property - 50 years
Office Equipment- 500/0 on cost
2.8 Intangible Assets
Intangible assets are recognised at the cost of bringing the asset to its working condition for its
intended use. The cost of an intangible asset includes its purchase price and any directly attributable
costs of preparing the asset for its intended use. Amortization is charged on a straight-line basis over
the estlmated useful Ilfe of the Intanglble asset. The estlmated useful life and amortlzatlon method are
reviewed at the end of each reporting period, with any changes in estimates accounted for
prospectively.
Investments
Social investments are made with the primary aim of furthering the charitable purposes of the charity
with an expectation of generating a financial return. The charity reviews the carying amount of social
investments at each reporting date to determine whether there is any indication of impairment. If such
an indication exists, the recoverable amount of the investment is ests'mated. An impairment loss is
recognised for the amount by which the carrying amount exceeds the recoverable amount.
Cash held in Notice Accounts with a maturity greater than 3 months are classified as short term
investments on the Balance Sheet.
2.10 Gainsl(Losses) on investment assets
All gains and losses are taken to the Statement of Financial Activities as they arise. Unrealised gains
and losses on investment assets represent the difference between their fair value at the end of the
year and their fair value at the beginning of the year, or transaction value if acquired during the year.
Realised gains and losses on disposal of investment assets represent the difference between the sale
proceeds and the fair value at the beginning of the year. or transaction value if acquired during the
year.
2.11 Financial instruments
The charity only has financial assets and 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.
2.12 Debtors
Debtors are recognised initially at fair value. Subsequent to initial recognition they are measured at
amortised cost using the effective interest method, less any impairment losses. As at 31103124, the
majority of this legacy income had been received, resulting to a decrease in other debtors.
Page 20

Docusign Envelope ID.. 610F4B6E-8DE445B8-BB61-729F3E6618CE
PROSTATE CANCER RESEARCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.13 Creditors
Creditors are recognised initially at fair value. Subsequent to initial recognition thay are measur&d at
amortised cost using the effective interest method.
2.14 Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
2.15 Operating leases
Rents payable under operating leases are charged to the Statement of Financial Activities on 8
straight line basis over the lease term.
2.16 Judgements and key sources of estimation uncertainty
There are no significant judgements in relation to the above accounting policies that have a material
impact on the financial statements.
3 Grants, Donations and Legacies
Unrestricted Restricted
Total
Total
Funds
Funds
2025
2024
Charitable Income
61,990
2,755,100
1,253,208
61,990
23,385
3,838,220 3,002,508
1,253,208 1,859,612
Grantsl donations and fundraising events
Legacies and bequests
1,083.120
4,070,298
1,083,120
5,153,418 4,885,505
4 Income from investments
Unrestricted Restricted
Total
Total
Funds
Funds
2025
2024
Interest on cash deposits
19,542
19,542
20,659
19,542
19,542
20,659
Income from interest re￿iVed on cash deposits is all attributable to unrestricted in both years.
Page 21

Docusign Envelope ID.. 610F4B6E-8DE445B8-BB61-729F3E6618CE
PROSTATE CANCER RESEARCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
5 Expenditure on raising funds
Unrestricted
Restricted
Total
Total
Funds
Funds
2025
2024
Fundraising costs
Support costs allocation (see note 7)
1,592,423
391,097
1,592,423
391,097
1, 058,838
188,542
1,983,520
1,983,520
1,247,380
6 Charitable activities
Unrestricted
Restricted
Total
Total
Note
Funds
Funds
2025
2024
Patient projects
Prostate Progress
Proven Connect
195,161
198,451
84,646
427,287
992,137
263,138
744,491
656,561
264,912
460,073
50,267
248,718
18,755
103,401
95,083
522,370
83,470 1,075,607
263,138
744,491
656,561
474,579
73,581
166,412
5,815
1,566,910
232,883
Influencing
Grant funding of activities
Other grant making costs
Grant to PCR Inc
Support costs allocation
438,072
Total expenditure on charitable activities
3,561,872
512,487 4,074,359
4, 145,631
Page 22

Docusign Envelope ID.. 610F4B6E-8DE445B8-BB61-729F3E6618CE
PROSTATE CANCER RESEARCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
7 Support costs are allocated on the basis of staff time and
comprise the following:
2025
2024
Note
Communication Expenses
HR Costs
IT. phone and internet costs
Office costs
Finance costs
Charity and staff memberships
Legal and professional fees
Depreciation
Governance costs
315,377
49,860
60,376
181,328
233,620
45,487
33,173
32,780
95,657
169,071
8,951
48,397
74,956
116,005
37,747
9,329
20,496
61,553
Total
1.047.658
626,615
7a Governance costs
2025
2024
Auditor's remuneration - prior year. including
other services - Current year
Trustee meeting expenses
Legal and Professional fees
25,000
6,013
64,644
30, 943
4,557
26, 053
Total
95,657
61,553
Audit fees disclosed above are inclusive of VAT. The amount accrued for the current year fee is
£20,833 net of VAT.
7b Support Costs are allocated in proportion to the direct costs of each activity between activities as
follows:
2025
2024
Fundraising costs
Patient projects
Prostate Progress
Proven Connect
Influencing
Grant funding of activities
Other grant making costs
391,097
112,994
61,085
25,395
128,293
264,168
64,626
188,542
84, 506
2,418
29, 632
1,035
279,012
41,468
Total
1,047,658
626,615
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Docusign Envelope ID.. 610F4B6E-8DE445B8-BB61-729F3E6618CE
PROSTATE CANCER RESEARCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
8 Grant funding activities
Name of institution
Activity
Total
Total
2025
2024
Kings College London
University of Cambridge
University of Cambridge
University of Aberdeen
University of Oxford
Newcasue University
University of East Anglia
UCL
PlexinB1
41,140
199, 146
81,644
98,069
105,487
82.023
PTEN and TSGS
ProCASP
113,593
SoloMERS
177Lu-PSMA
105.482
45,575
15.349
13.221
AR-V Splicing
AIIMathem2tical Cla&%ification
128,250
38,309
92,667
161,620
58,947
120,797
STAMPEDE
Newcastle University
Cardiff University
CRUK Beatson Institute
Bone metslglycans
Bone metslwnt
85,754
96.493
113,326
20.842
40.917
MCL-1
Imperial College London
University of Sunderland
University of East Anglia
University of Essex
UCL
Obesity-driven PC
DisparitieslB2rriers to earty diagnosis
DisparitieslPCR test
OisparitieslAR risk
Oisparitiesltreatment pattems
Bone metslglycans
EPI-EVO
105,386
121,781
46,702
34,808
50, 134
18.917
Newcasue University
Imperial College London
University of Cambridge
Imperial College London
120,506
1,133
248.180
36.319
Liquid Biopsy
MmicroRNA-346
1,075,607
1,566,910
9 Employees, remuneration
2025
2024
Gross Salaries
1,590,195
174,842
50,996
35,285
1,200, 701
128,402
40, 899
19,755
Employers, national insurance contributions
Employers, pension contributions
Training and recruitment
Total
1,851,318
1,389, 757
Page 24

Docusign Envelope ID.. 610F4B6E-8DE445B8-BB61-729F3E6618CE
PROSTATE CANCER RESEARCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Employment costs analysed by category was as follows:
2025
2024
Fundraising
Communications
640,546
94,694
200,042
540,683
375,353
520, 035
80.740
Grantmaking
Other Charitable activities
186,542
436, 601
166,439
Support & Governance
1,851,318
1,389,757
The average number of persons employed by the charity during the year, analysed by category was as
follows:
2025
2024
Fundraising
Communications
12
10
Grantmaking
Other Charitable activities
Support & Governance
35
27
The number of employees whose remuneration exceeded £60,000 was:
2025
No.
2024
Between £110,001 - £120,000
Between £100,001 - £110,000
Between £90,001- £100,000
Be￿een £80,001 - £90,000
Be￿een £70,001 - £80,000
Between £60,001 - £70,000
Employer pension contributions paid for the individuals above amounts to £1,468 {2024 - £17,161)
The key management personnel are the Trustees, the Chairman of the Scientific Advisory Committee
and the CEO. All grant proposals, strategic and financial plans and personnel appointments are vetted
by the Trustees. Apart from the payment of expenses, the only post which is remunerated is that of
the CEO, annual renumeration.. £136,551 (2024.. £130,135).
Page 25

Docusign Envelope ID.. 610F4B6E-8DE445B8-BB61-729F3E6618CE
PROSTATE CANCER RESEARCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
10 Property and Equipment
Leasehold
Office
Property Equipment
Total
Cost
As at 1 April 2024
1.024,783
4,060
1,028,843
As at 31 March 2025
1.024,783
4,060
1,028,843
Depreciation
As at 1 April 2024
Charge for the year
122,755
20,496
4,060
126,815
20,496
As at 31 March 2025
143,251
4,060
147,311
Net Book Value
As at 31 March 2025
881,532
881,532
As at 31 March 2024
902, 028
902,028
11 Intangible Asset
Data Platform
Cost
As at 1 April 2024
Additions
250,629
240,729
As at 31 March 2025
491,358
Depreciation
As at 1 April 2024
Charge for the year
12,284
As at 31 March 2025
12,284
Net Book Value
As at 31 March 2025
479,074
As at 31 March 2024
250,628
Page 26

Docusign Envelope ID.. 610F4B6E-8DE445B8-BB61-729F3E6618CE
PROSTATE CANCER RESEARCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
12 Investments
Cost
As at 1 April 2024
30,200
Additions
200,000
As at 31 March 2025
230,200
13 Debtors
Debtors due within one year
2025
2024
Other debtors
709,889
229,005
1,540,817
77,792
Prepayments
938,894
7,618,009
Debtors more than one year
2025
2024
Prepayments
Amount due from related party
56.665
53,085
537,491
56,665
590,576
Total Debtors
995,559
2,208,585
During the year, the Trustees made the decision to convert the PCR Inc. loan of £537,491 into a grant
that is subject to the usual temis and conditions of the charity's grant awards policy.
14 Cash and cash equivalent
2025
2024
Cash
373,260
667,693
755,403
259,324
Fixed term deposits
1,040,953
1,014, 727
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Docusign Envelope ID.. 610F4B6E-8DE445B8-BB61-729F3E6618CE
PROSTATE CANCER RESEARCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
15 Creditors- amounts falling due within one year
2025
2024
Trade creditors
258,220
451,417
50,674
185,631
48,657
27,116
197,034
530,111
50,316
127,758
Grant Accruals
Other Accruals
Deferred Income
PAYE and Social Security
Other creditors
15,247
1.021,715
920,466
Deferred Income
2025
2024
Balance brought forward
Deferred income released in year
Income deferred to following year
127,758
(127,758)
185,631
158,676
(158.676)
127,758
Balance carried forward
185,631
127, 758
At 31 March 2025 the charity had received donations specrfically for future fundraising events.
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Docusign Envelope ID.. 610F4B6E-8DE445B8-BB61-729F3E6618CE
PROSTATE CANCER RESEARCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
16
Funds - Current year
At 1 April
2024
At 31 March
2025
Incom•
Exp•nditur•
Transfars
Unrestricted Funds
General
846,636
4,094,660
5,524,896
1,554,124
970,524
Designated Funds
Grants
Propety
1,504,124
902,028
(1,504,124)
(20,4961
881,532
Total d•signat•d funds
2,406,152
20,496
1,504,124
881,532
Total unrestricted funds
3,252,788
4,094,660
5,545,392
50,000
1,852,056
Restrlcted Funds
Patient Information System
Bone Metastasis Collaboration Fund
Research grants
Other Projects
144,998
294,062
434,757
144,070
210.231
(264,912)
174,148
434,757
144,642
84,042
3,874
(83,470)
164,105
50,000
Total restricted funds
232,914
1,083 120
512,487
50,000
Total funds
3 485,702
5,177,780
6,057,879
2,605,603
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Docusign Envelope ID.. 610F4B6E-8DE445B8-BB61-729F3E6618CE
PROSTATE CANCER RESEARCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
General funds
General funds include £180,200 of social impact investments.
Designated funds
During the year, the trustees made the decision to transfer to general funds the designated fund previously held against future commitments for research grants.
Property fund represents the value invested in headquarters to enable the ongoing operations and activities of the Centre, as identified in Note 10.
Restrlcted Funds
Restricted funds are where the donor or the income received has restrictions on the use of the funds towards payments to specific grants for academic and research
and development purposes.
Patient Information System and Patient Platform are initiatives by the Charity to create a pool of information for patients suffering prostate cancer or other cancer
conditions.
The Bone Metastasis Collaboration Fund is a new project funded for which the grant expenditure is expected in 2026.
A donation for £50,000 was received during the year to fund a social impact investment which has been transferred to General funds.
Page 30

Docusign Envelope ID.. 610F4B6E-8DE445B8-BB61-729F3E6618CE
PROSTATE CANCER RESEARCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
16
Funds - Comparativ•
At 1 April
2023
At 31 March
2024
Income
Expenditure
Transfers
Unrestricted Funds
General
200,503
4,430, 634
(2,511,870) (7,272,637)
846, 636
Designated Funds
Grants
Support and working capital
Property
1,767,545
719,361
922,525
(1,502,918)
1,839,496
(119,361)
1,504,123
(20,496)
902, 029
Total d•signat•d funds
2,209,431
1,523,414
1,720, 135
2,406, 152
Total unrestricted funds
2,409,934
4,430,634
4, 035,284
447, 504
3.252, 788
Restricted Funds
Patient Information System
Patient Platform
Research grants
34,282
200,000
80,096
358,220
(247, 504)
(200, 000)
144, 998
118,164
(110,344)
87,916
Total restricted funds
314,378
476,384
110,344
447, 504
232,914
Total funds
2,724,312
4,907,018
4, 145,628
3,485, 702
Page 31

Docusign Envelope ID.. 610F4B6E-8DE445B8-BB61-729F3E6618CE
PROSTATE CANCER RESEARCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
17 Analysis of net assets between
funds - current year
Unrestricted
Restricted
Total
Fixed Assets
Intangible Assets
Investments
Debtors
Short term investments
Cash at bank and in hand
Creditors falling due within one year
881,532
479,074
230,200
995,559
881.532
479.074
230,200
995,559
667,693
373,260
(1,021,715)
667,693
85,854
287,406
(1.021 ,715)
Net assets at the end of year
1,852,056
753,547
2,605,603
Analysis of net assets betlveen
funds - comparative
Unrestricted
Restncted
Total
Fixed Assets
902, 028
250,628
30,200
2, 208,575
259,324
522,489
(920,466)
902,028
250,628
30,200
2,208,575
259,324
755,403
(920,466)
Intangible Assets
Investments
Debtors
Short term investments
Cash at bank and in hand
Creditors falling due within one year
232,914
Net assets at the end of year
3, 252, 788
232,914
3,485, 702
18
Related Party Transactions
A debtor balance with PCR Inc of £744,000 has been written off at the year end. The balance
represented grant expenditure and supporting costs incurred in the United States over a number
of years to advance the objects of the charity.
19
Trustees
The Trustees received no remuneration (2024.. £nil). In addition. no Trustee was paid or received
any expenses during the year (2024.. £nil).
Page 32

Docusign Envelope ID.. 610F4B6E-8DE445B8-BB61-729F3E6618CE
PROSTATE CANCER RESEARCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
20
Statement of Financial Activities - Comparative
Total
funds
2024
Notes
Unrestncted
funds
Rostncted
funds
Income fmm."
Donations and legacies
Investments
Other income
4,409, 121
20,659
854
476,384
4,885, 505
20, 659
854
Total income
4.430.634
476,384
4,907.018
Expenditure on..
Raising funds
1,261.385
1,261,385
Charitable activities
2, 773,899
110,344
2,884, 243
Total expenditure
4.035.284
110,344
4, 145.628
Net movement in funds
395.350
366.040
761,390
Transfer of funds
447.504
(447,504)
Fund balances brought forward at
31 March 2023
2,409,934
314,378
2,724,312
Fund balances carried forward
at 31 March 2024
3.252,788
232,914
3,485,702
Page 33