2024-12-31-accounts

Trustees’ Report and Financial Statements for the year ended 31 December 2024

Contents

Welcome from Chair of Trustees .................................................................................................................. 3 Welcome from CEO of Children with Cancer UK .......................................................................................... 4 Outcomes in 2024 ............................................................................................................................................ 5 Our Year in Research ....................................................................................................................................... 6 Supporting Families ......................................................................................................................................... 8 Raising Awareness ........................................................................................................................................... 9 Fundraising Highlights ................................................................................................................................... 10 Thank You ........................................................................................................................................................ 13 Financial Review ............................................................................................................................................. 14 Our Strategy .................................................................................................................................................... 16 Human Resources .......................................................................................................................................... 17 Going Concern ................................................................................................................................................ 18 Investments .................................................................................................................................................... 18 Structure, Governance and Management ................................................................................................. 22 Reference and Administration .................................................................................................................... 25 Statement of Trustees’ Responsibilities ................................................................................................... 27 Independent Auditor’s Report to the Members of the Children with Cancer UK ................................. 28 Consolidated statement of financial activities for the year ended 31 December 2024 .................... 32 Balance sheet as at 31 December 2024 ..................................................................................................... 33 Consolidated cash flow statement for the year ended 31 December 2024 ......................................... 34 Notes to the financial statements for the year ended 31 December 2024 .......................................... 35

Welcome from Chair of Trustees

As we look back on 2024, I am filled with pride at the progress Children with Cancer UK has made. As ever we have remained unwavering in our mission to fund life-saving research, create awareness and support families going through a childhood cancer diagnosis.

I would like to express my heart-felt thanks to Amar Naher, who served as interim CEO since March 2024. His work on raising the profile of the charity helped us connect with new audiences thanks to projects that included our very first garden at the RHS Chelsea Flower Show and the launch of our movie, Kids Like Us, a landmark documentary which fundamentally changes the way paediatric cancer is viewed. I wish him all the best in his new endeavours.

I'd like to welcome our new CEO, Gavin Maggs, who joined us this summer from Birmingham University where he was Director of Development and Alumni Relations. I look forward to working with Gavin to usher in a new era for the charity.

Our gratitude as always to our Scientific Advisory Panel for giving their time and expertise to help in our fight against childhood cancer, particularly Ms Clare Brady who is stepping down from her role. We wish her a very happy retirement.

Research is, as always, at the heart of our work and this year saw the successful completion of the Children with Cancer UK 2024 Project Grant round, resulting in the funding of 11 new projects. We can't wait to see the ground-breaking progress these will make in the years to come and the improved understanding of childhood cancers.

Finally, I want to share my sincere thanks to our dedicated staff and loyal supporters. With your unwavering support, together we can help more children survive and thrive following a cancer diagnosis. I look forward to heading into the next phase of our work with new initiatives and strategies, helping more families together in the year to come.

David Gibbs Chair of Trustees Children with Cancer UK

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Welcome from CEO of Children with Cancer UK

It is only right that I begin by writing how privileged I am to have taken over the role of CEO at Children with Cancer UK this year. I look forward to leading the charity into the next phase of our growth, towards a world where every child and young person survives cancer.

Children with Cancer UK is proud to continue our strategic funding of research into childhood cancer and in 2024 alone we funded research projects in collaboration with other organisations worth over £4m. This included ground-breaking projects looking into kinder, more effective treatments, such as Dr Helen Bryant and her team at Sheffield University looking into new treatments for Neuroblastoma. Professor Williams and her team at Oxford University are addressing the legacy of limited child-specific cancer treatments through fertility research for female survivors, which we supported alongside other UK-wide projects.

In 2024 we also showcased our first ever RHS Chelsea Flower Show Garden. The balcony garden ‘Raines Repurposed’ was designed by Thomas Clarke and helped us engage with a brand-new audience as well as win two awards.

Once again, our supporters have gone above and beyond in their fundraising for the charity, helping us raise £16 million. From 1,200 runners taking on the London Marathon to individuals such as Charlotte, whose own experience with cancer prompted her to raise funds with a Black-Tie ball. We offer our heartfelt thanks for the generosity of all our supporters; we couldn't do what we do without you.

One of the pillars of our charity remains supporting families affected by childhood cancer. This year we are proud to announce that Raines Retreat, one of the UK's very few holiday retreats designed solely for children affected by cancer and their families, will be opening soon. The new facility in North Yorkshire will allow families to escape the day-to-day stresses and worries of childhood cancer, spend quality time together and connect with other families who have experienced the pain of a cancer diagnosis. The Retreat will make a real difference to the lives of many families in the years to come.

Thank you to all our staff and supporters, whose dedication has enabled us to continue to help families and commission research that offers the hope of breakthroughs in the years to come. I look forward to working together on the next chapter for Children with Cancer UK.

Gavin Maggs CEO of Children with Cancer UK

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Outcomes in 2024

How donations have helped children and young people with cancer.

For every £1 we spend on fundraising, we raised £4 more.

For every £1 donated we spend:

• 76p on fighting childhood cancer

• 41p on research projects,

• 13p on supporting families,

• 22p on raising awareness,

• 24p on raising more money.

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Our Year in Research

Around 1,800 children and 2,300 young people are diagnosed with cancer each year in the United Kingdom. Whilst over 80% of patients survive, cancer recurrence is still at high rates, and it remains one of the leading diseases related causes of death for children under 15 years of age. From the time of their diagnosis, children and young people endure difficult treatments to eradicate their disease, with potentially life-altering side effects on their development. High-quality and impactful research is essential to driving forward our vision of a world where every child and young person survives cancer. Research has significantly contributed to the improvements seen in childhood cancer survival rates from 67.3% in 1990 to a predicted 85.2% recorded in 2019. Improved treatments and understanding of the disease are important on our mission.

Children with Cancer UK plays a major role in funding vital life-saving research. We are dedicated to improving survival rates across all types of childhood cancer, improving the quality of life in young cancer survivors, and finding less-toxic treatment options. As one of the UK’s leading charities dedicated to childhood cancer research, we are proud of our contribution to the ongoing breakthroughs which continue to help save young lives.

2024 saw the successful completion of the Children with Cancer UK 2024 Project Grant round resulting in the funding of 11 new projects. This funding allocated to research projects in institutions across the UK aims to make improvements for childhood and young adult cancers.

Children with Cancer UK values its partnerships with others in the paediatric and young adult cancer community. And we are constantly working to build new collaborations as well as maintain our existing relationships. Our research funding includes support from other charities, government funders, cancer organisations and universities. In 2022 we co-funded a £5.5 million investment with CRUK in the Research Programme SMPaeds2 – a programme to advance precision medicine for children and young people whose cancer has returned or whose treatment has stopped working, progress will be reported at our Research Conference for 2025 in Birmingham.

Research awards

In 2024 we funded research projects in collaboration with other organisations worth £4.4 million, £3.6 million was via the grant call and funded research fellowships, while the balance was provided to other charities with similar objectives as Children with Cancer to support their specialised research priorities.

Children with Cancer UK 2024 grant call

This was a £3.5 million grant call for research into improvements in the cancer pathway for childhood and young adult cancers. We sought proposals that focus on key questions in any area of cancer research which primarily addressed the needs of children and young adults with cancer and into improved quality of ongoing life. The grant call began in 2023 and was finalised in summer 2024. Projects allocated funding included:

Dr Karen Keeshan (University of Glasgow)

Targeting leukaemia stem cells in childhood acute myeloid leukaemia (£299,732)

Dr Manav Pathania (University of Cambridge)

Investigating Resistance to Chemoradiotherapy in Paediatric-Type Diffuse High-Grade Glioma (£348,662)

Prof Suzannah Williams (University of Oxford)

Improving fertility preservation for female cancer survivors (£319,952)

Dr Timothy Ritzmann (University of Nottingham)

Biological Markers of Ependymoma in Childhood and Adolescence (BIOMECA) 2 (£350,000)

Prof Helen Bryant (University of Sheffield)

Use of CDK12/13 inhibitors to treat high-risk Neuroblastoma (£147,570)

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Dr Paul Maciocia (UCL)

Development of humanised models of T cell acute lymphoblastic leukaemia for robust interrogation of immunotherapy approaches (£349,943)

Dr Maarten Hoogenkamp (University of Birmingham)

Detection of EAAT1 protein in T-ALL patient samples (£78,055)

Prof Kathy Pritchard-Jones (UCL)

International Benchmarking of Childhood Cancer Survival by Stage (BENCHISTA) Phase II (£298,773)

Prof Julie Irving (Newcastle University)

Targeting MRD in childhood acute lymphoblastic leukaemia (£337,238)

Prof Susan Burchill (University of Leeds)

Eradicating the cells responsible for progression and relapse in Ewing sarcoma using intelligent combination strategies to improve outcomes (£331,519)

Dr Zoe Walters (University of Southampton)

Harnessing the immune response in paediatric rhabdomyosarcoma (£329,067)

Scientific Advisory Panel

We are incredibly grateful to the members of our Scientific Advisory Panel (SAP) who freely give their time and expertise to help drive forward our fight against cancers affecting children and young people. Research into cancers affecting children and young people is a broad field and we aim to reflect the diversity of the field amongst the membership of panel members.

Our members in 2024 were:

• Professor Christina Halsey (University of Glasgow)

• Dr Helen Jenkinson (University of Birmingham)

• Professor Susan Burchill (University of Leeds)

• Dr Lynley Marshall (The Royal Marsden Hospital)

• Professor Matthew Murray (University of Cambridge)

• Professor Vincenzo D’Angiolella (University of Edinburgh)

• Professor Petra Hamerlik (University of Manchester)

• Ms. Clare Brady (Retired)

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Supporting Families

Children with Cancer UK is committed to being there for families through treatment and beyond. Due to the staffing absence of a family events team, we were not able to deliver as many events as in previous years but have been very fortunate to be able to invite families to events supported by our generous partners. We ensured consistent contact with our families was maintained throughout this period and were still able to create special memories towards the end of the year.

Raines Retreat

We continued our development at Raines Retreat, with the refurbishment of the retreat and the completion of the building work in 2025.

A series of focus groups with our psychologist and families helped us identify the needs and wants to families during their stay at Raines Retreat. We consulted numerous groups of parents to roll out a best practise plan for their experience at the Retreat.

Children’s Choir

At the Children with Cancer UK Gala in 2024, we invited 21 children currently undergoing treatment or in remission, along with their siblings, to participate in a children’s choir for the third time. They performed a rendition of "You will be found" from "Dear Evan Hansen" accompanied by singer Louisa Johnson and directed by musical director Paul Herbert. This experience provided an exciting opportunity to involve our families in one of our key fundraising events, and we are committed to continuing this tradition in the years to come.

We were able to invite 6 families to join us at the Gala for a night off from their daily worries.

Beads of Courage UK

Our partnership with the Beads of Courage UK programme continued through 2024, and we helped to fund support for children and their families during some of the toughest times in their lives. Since our partnership began in 2019, we have helped support approximately 14,000 children in over 100 hospitals, acknowledging, celebrating, and recording over 10 million milestones. Our grant has also enabled training sessions for hospital staff on how to support individual patients throughout the programme both practically and emotionally. In our Real Stories focus in February, we told the story of siblings and the importance of the Beads of Courage for the whole family.

Spread a Smile Partnership

We continued our partnership with Spread a Smile to improve the well-being of seriously ill and hospitalised children and their families through entertainment and events. The team hosts an array of talented musicians, magicians, therapy dogs, and artists who visit seriously ill children, offering families a much-needed opportunity to enjoy themselves and create precious memories together. We also helped support both the Summer and Winter Parties, which hosted hundreds of children to explore a wide range of activities like silent discos, bumper cars, and face painting. In 2024 we attended their Remembrance Event with some families. The beautiful and emotional event was held especially for families that have a lost a loved child.

Spread a Smile joined us at the 2024 London Marathon with a children’s corner full of entertainment for young supporters waiting to welcome their parents back from their run.

During the Westminster Mile Spread a Smile entertained all children that attended the event with their families with fun activities.

Heroes Against Cancer

We continued our Heroes Against Cancer campaign with regular requests from families for bespoke messages from their heroes. One of those was Leighton who managed to visit his favourite football team Leeds United during their training day, this was then followed by him being invited to be the team’s mascot during one of their games. This particular moment was picked up by the local press and was a real highlight for Leighton.

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Westminster Mile

We were very fortunate to be given our own wave at the 2024 Westminster Mile during Childhood Cancer Awareness Month. With 500 people signing up, we arrived and walked in solidarity with those affected by childhood cancer. All participants were given our orange T-Shirt, showing our support whilst walking the mile.

Christmas Hampers

During the Christmas period we collaborated with our WTW corporate partner as well as our charity partner Spread a Smile to deliver 300 bespoke hampers to families facing childhood cancer. Through these efforts, we aimed to bring some comfort and joy to those enduring challenging times during the holiday season.

Disney on Ice

On Christmas Eve, we hosted families at the O2 Arena to see the incredible Disney on Ice. Generously donated by the O2, families affected by childhood cancer were able to immerse themselves in Disney’s performance from private suites, providing them with a VIP experience.

Raising Awareness

Children with Cancer UK is dedicated to increasing awareness of the causes, symptoms, treatments, and impact of childhood cancer. This commitment extends to current and potential supporters, the research community, and patient families. By raising our profile, we continue to secure essential funds for lifesaving research and drive change for children and young people facing a cancer diagnosis. In 2024, we ran multiple campaigns, including Childhood Cancer Awareness Month and Christmas, and introduced exciting new events with the help of our dedicated new special events team. These key charity moments allowed us to reach millions of individuals across the UK, amplifying our mission and impact.

Making Our Voice Heard – PR

• 1,200 mentions in articles

• Reached 2.7 billion people

• Reach value of £2.2 million

Real Stories

In January we launched a new video series called Real Stories. It featured interviews with different people affected by childhood cancer. Each month, we unravelled the powerful narratives of these extraordinary individuals who have faced the unimaginable. It included bereavement stories, siblings' stories, teenager stories, fundraiser stories, in treatment stories, fatherhood stories, connecting parents' stories, full circle and research stories.

12 Groups of Cancer

12 Groups of Cancer was also launched in 2024 and consists of 12 videos, each focusing on one group of childhood cancer. The series allowed parents, children or anyone else interested to understand the key questions about childhood cancer. It gave them the tools to understand the cancer type without having to ask questions. The series was developed with our Head of Research and our Trustee, Professor Bruce Morland.

Chelsea Flower Show

In 2024 we displayed our first ever RHS Chelsea Flower Show Garden. The balcony garden ‘Raines Repurposed’ was designed by Thomas Clarke, whom we have been working with at our Raines Retreat in North Yorkshire. The garden helped us secure multiple broadcasting and PR opportunities, including BBC One footage, raising awareness with a brand-new audience. Our garden won two awards, the Silver Gild as well as the People Choice Award.

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Childhood Cancer Awareness Month – Kids Like Us

Every September, we celebrate Childhood Cancer Awareness Month (CCAM). In 2024, we were privileged to be working with BAFTA award winning production team Echo Velvet to launch Kids Like Us. We created a ground-breaking documentary about childhood cancer, which is streaming on Sky and NowTV in over 101 countries. We are determined to keep childhood cancer on the agenda.

The film follows the extraordinary lives of eight remarkable young people from across the UK and US who have faced the unimaginable. Kids Like Us, is a landmark documentary feature which will fundamentally change the way we view paediatric cancer and the issues that surround it. The film premiered on Wednesday 11 September 2024 with a red-carpet VIP event at Cineworld, Leicester Square, sponsored by Pladis.

Ambassadors Series

We continued to work with our long-term ambassadors Dr. Mohammed Abbas Khaki, James “Jimmy” Carpenter, as well as Paula Radcliffe. In 2024 we were incredibly proud to welcome new ambassadors on board. This included Evie Pickerill, Hannah and Jake Graf, Ollie and Gareth Locke and Ali-A.

Christmas Appeal

Our 2024 Christmas Appeal looked back at the Real Stories we told in 2024 with heartfelt messages of hope for Christmas from all the participants. These messages helped those going through their cancer journey feel supported, knowing they are not alone.

Telling the story of childhood cancer

One of our most effective ways to raise awareness is by sharing the journeys of children affected by cancer. We are incredibly grateful to the 19 families who generously volunteered to share their stories in 2024. With their support we can continue to highlight the need for more funding into childhood cancer research. Welcome to the Children with Cancer UK family: Ellie, George, Madelaine, Nancy, Henry, Charlie, Jamie, Libby, Dulcie, Chester, Zayyan, Jack, Alec, Aden, Harrison, Gracie, Amelia, Issac and Jacob.

Looking Forward

Through these initiatives, we have continued to spotlight the effects of childhood cancer and the urgent need for more funding and research. Together, we are making a profound difference in the lives of children and families affected by cancer. Our work in 2024 has laid a strong foundation for future efforts, and we remain committed to our mission of providing hope, support, and life-saving research.

Fundraising Highlights

Children with Cancer UK has been diversifying our fundraising streams in order to provide supporters with various ways to contribute to the organisation’s work.

The London Marathon and Individual Giving campaigns generated significant funds in 2024, and we look forward to continuing to develop these strategies in 2025.

The Corporate Partnerships and Community teams have helped increase engagement with the charity, while the organisation's growing brand recognition has resulted in us gaining UK wide support and Children with Cancer being selected by corporate partners as their charity of the year.

These initiatives are supported by a community of dedicated supporters across the country who fundraise for us.

Sports events

TCS London Marathon 2024

The 2024 TCS London Marathon took place on Sunday 21 April 2024. We had a team of 1,200 runners taking on the iconic course for Children with Cancer UK, and together, they raised over £2.8 million.

Great North Run 2024

We had 121 runners take part in the 2024 Great North Run. In total the team raised over £43,000.

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

BHF London to Brighton Cycle

Children with Cancer UK had 88 riders take part in the 2024 BHF London to Brighton Cycle, raising over £64,000.

Rat Race

The Rat Race team raised over £293,000 in 2024.

Community

Our community supporters have made a remarkable impact throughout 2024, demonstrating tremendous dedication and generosity.

Charlotte wanted to raise money for Children with Cancer UK. She felt inspired to help after she was diagnosed with Burkitt lymphoma when she was just six years old. “I received support from the charity. I know the importance of research, to try to find less painful and more effective treatments, and the emotional and financial support that my parents and brother had too.” With the help of friends and family, Charlotte organised a Black-Tie Ball event, as she wanted to dress-up, have a celebration, and dance the night away. After a year of planning and overcoming challenges, Charlotte raised an incredible £20,615. We at Children with Cancer UK were so impressed by their determination and the amount raised, that Charlotte was named as one of our fundraisers of the month, you can read more about her on our website.

Tattershall Karting Centre, based in Lincolnshire, organised their second annual karting fundraiser in memory of one of their drivers Thomas, who sadly passed away from cancer in 2023 aged just 11 years old. They raised a fantastic £6,379.85, which was over £2,000 more than their previous event.

Cherubs Day Nurseries chose Children with Cancer UK as their charity partner of the year in 2024. Their initial fundraising target was £6,500, as all 10 nurseries have a target of £650 to raise. However, their incredible determination and dedication to the cause saw them raise £12,587 during the year.

The Old Red Wall Club finalised their two-year fundraising for Children with Cancer UK at the end of 2024. One of the members, Chris, went into remission in 2022, but was struck by the fact that children as young as his own daughter were undergoing the same intensive therapy as himself without any extra preparation. Throughout the past two years, the club have taken on many sporting events and have collectively raised £20,097 for the charity. We are so grateful for their brilliant support.

Our campaign Pyjamarama, which went live in 2023, has grown and reached even more groups. Children were able to wear their pyjamas to their school or their youth group for a day, in return for a donation, in solidarity with the children undergoing treatment, who spend most of their time in their favourite pyjamas. We had 142 schools and organisations signed up, raising over £20,000.

These achievements highlight the incredible impact our supporters have made, furthering our mission and bringing hope to children and families affected by cancer.

Corporate

In 2024 we had a new corporate team join the charity. The Lazard partnership, that was secured in 2023, was able to kick off their fundraising and awareness raising, with volunteers from Lazard helping the charity throughout the year at multiple charity events. WTW’s efforts increased and surpassed the original goal of £200,000 reaching well over £300,000 by the end of 2024. The corporate team also secured a spontaneous £250,000 donation to the charity that is to remain anonymous.

We were thrilled to count on the generous support of MFS once again, whose sponsorship helped bring the Fundraising Gala to life. Their continued partnership has been invaluable in making this signature event a success.

The team secured a new corporate partner in Abbott Lyon, which has been instrumental in raising awareness and providing gifts for our patient families. The partnership with Ladbrokes was extended by a further year, securing their fundraising for 2025.

Building on 2024’s progress, 2025 brings new opportunities to deepen corporate partnerships and drive the critical funding needed to advance our work.

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Individual Giving

• Gift in Wills saw a total raised of £2.0 million and continues to be a reliable source of income for the charity. We continue to develop marketing initiatives to recruit new pledgers to the charity.

• Our prize-led programme consisting of raffle grand draws and a weekly lottery raised £1.1 million.

• The cash, stewardship and in memory appeals, featuring a mix of inspiring case studies and profiles of the research project we help to fund, raised £1.7 million from existing donors.

• Cause-led regular giving raised £2.9 million.

Retention and Stewardship

Following research to identify key insights to improve the individual giving programme we have implemented a new testing programme to validate the results of the analysis. Initial tests have seen us engage a higher proportion of our warm donors from our appeal programme.

Digital fundraising and acquisition of new donors

Digital remains to be a key marketing channel for Children with Cancer UK. In 2024 we continued with “always on” campaigns implementing a “test and learn” approach across a number of products throughout the year making changes to the adverts and audiences based on performance data. We saw particular success during Childhood Cancer Awareness Month and the Christmas season testing new ad creatives and a refreshed tone of voice.

Fundraising Compliance

Children with Cancer UK values the privacy of all those who support us in our work; we have systems in place to ensure that supporter data is collected, managed and processed in line with all necessary legislation. We are members of the Fundraising Regulator, which has responsibility for regulating fundraising, sets out the Code of Fundraising Practice and investigates and takes appropriate action on cases of public concern. Children with Cancer UK adheres to the Code of Fundraising Practice set by the Fundraising Regulator and fully complies with the Fundraising Preference Service. We comply with charity law, fundraising law and the data protection regulations. We monitor our fundraisers, volunteers and any third parties that work for us to ensure that they adhere to our high standards.

We will ask the donor how they want to hear from us about our work and appeals. If the donor wants to stop hearing from us, they can, email, phone, write or click on the link in our emails. We will always take action, so they can feel confident in contacting us at any time.

We will keep the donor’s personal information secure and will only use it to communicate with the donor; to process orders and donations; to keep the donor informed; for analysis and to improve our activities. We will NOT share the donor’s details with other charities or sell it to businesses. Some organisations help us with our fundraising but will only use the donor’s data under our instruction and only when fully compliant with how we process personal data as set out in our Privacy Policy (Reviewed February 2022).

Children with Cancer UK continues to adhere to and review policies relating to GDPR and work alongside an external consultant, Cyber and Data Protection, to ensure that we are fully compliant.

Children with Cancer UK works with some professional fundraising agencies to assist with certain elements of our fundraising, by telephone and SMS channels. We have robust contracts in place with these agencies, specifying that staff carrying out these activities should be trained and adhere to all applicable laws, regulations and codes, such as the Code of Fundraising Practice and the Data Protection Regulations. We also expect these organisations to reflect our values when talking to supporters and to voluntarily subscribe to the Fundraising Regulator.

To ensure the agencies we engage are operating to the required standards and that people should never feel harassed or pressurised to give, we carry out appropriate monitoring which includes call monitoring, site visits and call listening. We attend training sessions of their staff and give training to staff in respect of each fundraising campaign. We require all our staff and the agencies we deal with to comply with our Vulnerable People Policy, which provides guidance on how to identify a potentially vulnerable person and actions to take to considerately disengage from the fundraising process.

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Children with Cancer UK require its staff and any agencies contacting our donors and members of the public on our behalf to comply with the Data Protection Law and guidelines provided by the Fundraising Regulator and Institute of Fundraising. Children with Cancer UK take all reasonable care to the protect vulnerable adults in accordance with the Institute of Fundraising guidance set out in their document ‘Treating Donors Fairly: Responding to the needs of People in Vulnerable Circumstances and Helping Donors make informed Decisions.’ We adhere to the Fundraising Regulator Promise ensuring that our fundraising is legal, open, honest and respectful. We truly value our supporters and still stand by our Supporter Charter as a commitment to our supporters. Our Feedback and Complaints policy was reviewed in March 2023, and we will continue to review this regularly. Complaints are investigated thoroughly and corrective action taken as appropriate. During our financial year (Jan – Dec) 2024 we received 20 complaints across all teams which remains consistent with the previous year (24 complaints,). We continue to work closely with our suppliers to ensure that best practise is followed.

We continue to closely monitor all our fundraising activities and will always strive to ensure they are of the highest standard and reflect the wishes and preferences of all our generous supporters. There may be occasions when we have not met these high standards, and we will work hard to learn from our mistakes and to make sure they don’t happen again. If our supporters and members of the public are unhappy with any aspect of our work, we encourage them to give feedback and take any comment or complaint seriously. We use this valuable feedback to help shape our future fundraising campaigns and improve our overall service and commitment to our supporters.

We are here to talk and listen to you – we welcome and actively encourage feedback and make it clear how people can get in touch with us.

A member of the Fundraising Regulator, the independent regulator of fundraising in the UK, Children with Cancer UK is committed to best practice in fundraising and follows the Regulators Fundraising Promise and Code of Fundraising Practice laid down by the regulator.

Special Events

The Really Big Auction

In August, we hosted our inaugural auction for a second year, raising a total of £316,767. With auction items from celebrities like Pink, Coldplay, and the popular TV weather girls’ lunch, we offered supporters the chance to bid for once-in-a-lifetime prizes. This event not only raised significant funds but also drew attention to the cause of childhood cancer.

Fundraising Gala

Our annual Fundraising Gala took place on 27 November and raised an incredible £739,172. This magical night of fundraising was instrumental in advancing life-saving childhood cancer research. The event brought together supporters, celebrities, and families, all united in their commitment to making a difference.

The Ultimate Christmas Quiz

In December, we hosted our second annual Christmas Quiz. Hosted by Alex Horne it featured celebrity team captains such as Kelly Jones, Vanessa Feltz, and Matt Goss. The event was a festive and engaging way to bring together supporters for a night of fun music, Christmas cheer and festive food.

Thank You

We would like to sincerely thank all our supporters and fundraisers who helped us to raise £16 million.

Your generosity and creative efforts are helping us to build our vision of a world where every child survives cancer.

Thank you to our dedicated board of trustees.

A very special thank you to all the extraordinary families we have worked with over 2024. Your commitment to helping others facing similar situations is inspirational and only through your stories are we able to show the realities of childhood cancer. Thank you.

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Financial Review

Incorporating the Directors’ Strategic Report and Administrative Report for Companies Act Purposes

The Trustees of Children with Cancer UK present their Annual Report for the year-ended 31 December 2024 under the Charities Act 2011 and the Companies Act 2006, including the Directors’ Report and the Strategic Report under the 2006 Act, together with the audited financial statements for the year.

The Consolidated Statement of Financial Activities (SOFA) set out on page 32, shows the financial results for Children with Cancer UK and its trading subsidiary: Helping Children with Cancer Limited.

This financial year has been a period of both challenge and opportunity for our charity, as we continue to advance cancer research through innovative projects and dedicated support.

Overview of Financial Performance

During 2024, the charity generated total income of £17.2 million (2023: £15.2 million), representing a 13% increase from the previous year. The key contributors to this increase were a rise in donations and legacies, which continue to form the backbone of our funding, and significant growth in other trading activities.

• Donations and legacies totalled £14.8 million (2023: £13.6 million) an increase of £1.2m year on year, reflecting the ongoing generosity of our supporters and partners. Our continued focus on donor engagement and fundraising activities has ensured stable growth in this crucial area.

• Other trading activities generated £1.1 million (2023: £883,917), an increase of 28%. This growth can be attributed to our expanded fundraising events and initiatives, which have proven successful in increasing engagement with corporate partners and the public.

• Income from investments grew substantially to £568,085 (2023: £453,300) due to improved market conditions and a proactive approach to managing our investment portfolio.

Additionally, we received other income of £641,260 (2023: £211,823), a substantive increase from the previous year, which reflects the charity’s ability to secure supplementary funds through grants and miscellaneous sources.

The growth in the revenue is attributed to the valued initiatives by all staff. They have been creative in all aspects of the business, thinking outside the box, making the charity a collaborative hub, bursting with enthusiasm and a passion to succeed.

Expenditure

The charity's total expenditure for the year amounted to £14.1 million (2023: £12.1 million), reflecting a 17% increase from the previous year. This increase is attributed to a 37% increase in raising funds. Charitable activities increased expenditure by 11% due to increases in direct costs.

• Overall staff costs have reduced year on year by 34% to £1.7m, while direct costs have increased by 36% to £10.8m and support and governance by 1% to £1.6m.

• Expenditure on raising funds amounted to £3.4 million (2023: £2.4 million), representing a modest increase, driven by the need to sustain our fundraising efforts. With the increase in revenue, additional resources had to be allocated to achieve this.

• Expenditure on charitable activities was £10.7 million (2023: £9.6 million). Raising awareness and welfare saw an expansion in their costs, brough forward in investments to create awareness of the charity. The expenditure on research continued to grow to £5.8 million.

Net Movement in Funds

The charity achieved a net income of £3.7 million (2023: £3.5 million), reflecting a strong financial position by year-end. This positive movement includes the gain in investments of £627,118 (2023: a gain of £441,084), which underscores the strength of our investment strategy.

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Financial Position and Reserves

At 31 December 2024, the charity’s total funds stood at £22.1 million, an increase from £18.4 million in 2023. This improvement is a result of prudent financial management, effective fundraising, and strong investment performance.

• Fixed assets increased to £18.0 million (2023: £16.2 million), largely due to the acquisition and valuation of property and investment assets.

• Net current assets increased to £12.7 million (2023: £8.6 million), ensuring that the charity remains in a strong position to meet its short-term obligations.

• Creditors due within one year decreased to £6.6 million (2023: £7.8 million).

Despite an increase in long-term grant commitments (creditors due after one year), the charity remains well-positioned to meet its obligations while ensuring the continuation of its mission.

The financial results for 2024 highlight the charity’s resilience and ability to adapt to changing circumstances. With a strong financial base, we are well-equipped to continue funding innovative cancer research and supporting those affected by cancer. The Trustees would like to thank all donors, supporters, and staff for their ongoing contributions, which are vital to our success.

We remain committed to ensuring financial stability and transparency, and we are confident that we will continue to make significant progress in the year ahead.

Reserves

At the end of the year, the charity held £22.1 million in total reserves (2023: £18.4 million), £21.7 million of which was classified as unrestricted reserves. There were restricted reserves at year-end of £422,830, as outlined in Note 20.

Unrestricted reserves are generated when supporters do not stipulate specific restrictions on how their donations must be spent. These funds are, therefore, available to be applied at the discretion of the Trustees to any of the charity’s charitable objectives. This flexibility enables the Trustees to allocate resources efficiently and in response to the changing needs of the charity’s operations and programmes.

Purpose of Reserves

The Trustees are mindful of their role as stewards of these funds and remain committed to ensuring that reserves are managed prudently. The reserves serve a dual purpose:

• Operational Stability: A portion of the reserves provides a financial buffer, ensuring that the charity can continue to operate and meet its obligations even in periods of reduced income. This buffer is critical for protecting the charity from unforeseen financial pressures and maintaining stability.

• Grant Award Programmes: The reserves also ensure the continuation of the charity’s grant-making activities, enabling the Trustees to fund essential cancer research projects in the forthcoming year, irrespective of short-term fluctuations in income.

Future Considerations

The Trustees remain vigilant in monitoring both income levels and operational needs. The reserves policy will be reviewed in 2025 in light of future projects, potential risks, and the external environment. The Trustees will consider the financial challenges posed by inflationary pressures, donor behaviours, and economic uncertainty when reassessing the appropriate level of free reserves required to safeguard the charity’s long-term sustainability.

The Trustees are confident that the current reserves position, alongside careful financial planning, places the charity in a strong position to meet its strategic objectives while continuing to provide valuable support to cancer research and those affected by cancer.

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Our Strategy

Children with Cancer UK maintains a strategy focused on three pillars: awareness, research, wellbeing and support.

Building awareness of childhood cancer for the future

At Children with Cancer UK, we are forward-thinking in our approach to raising awareness and driving progress in the conversation about childhood cancer. Children with Cancer UK would like to become a louder advocate for our beneficiaries and research partners and drive a tangible change in treatment and care. By coming together with other charities, we can share resources, amplify our collective visions, and become a stronger voice for children with cancer. These collaborations will enable us to share learnings, accelerate change, and make a bigger impact in raising awareness. Our ‘Kids Like Us’ film is an example of raising awareness, sparking vital conversations and bringing the personal stories of children with cancer to the forefront, ensuring these voices are heard. The documentary has now received international recognition and can be viewed in over 101 countries. The documentary is a first of its kind in the charity sector and amplifies the creativity the team has brought forward to make awareness more impactful.

Our commitment to research

Children with Cancer UK understands the need to increase opportunities for grant applications, investment in state-of-the-art research facilities and equipment, while collaborating with other charities and organisations on research and treatment development. We fund a diverse portfolio of projects from discovering new treatments to supporting and investing in clinical trials. Our objective is to broaden our existing program across more stages of the research spectrum while expanding the research community in the field of childhood cancer.

Our research program is evolving to ensure that we make a greater impact through an even more strategic use of our funding. First, we wish to develop improved treatments so that more patients are cured with less toxic side effects. Second, we wish better to understand how cancer develops so that one day we may be able to prevent it. Our aim is to enable every child to survive cancer.

In collaboration with our Scientific Advisory Panel, we are reviewing our Research Strategy to ensure that every investment delivers the maximum benefit for children and families. We wish to invest in research that will deliver the greatest impact. A key part of this strategy is the continuation of our annual grants program, which supports pioneering research projects that will drive progress and create lasting change. By focusing our resources where they will have the greatest impact, we are confident that we can make a meaningful difference for children and young people with cancer.

Prioritising the families we support

Children with Cancer UK consults regularly with patients and families to determine their needs while trying to deliver the best support possible.

Children with Cancer UK remains dedicated to supporting families throughout their cancer journey. As part of this commitment, we are investing in the development of Raines Retreat, a new facility in North Yorkshire that will provide a welcoming and comfortable break for families. This significant investment in capital works marks the first step in ensuring the centre is fit for purpose, and we look forward to opening its doors in 2026. Alongside this, we are proud to celebrate our partnership with Spread a Smile and our continued collaboration with Beads of Courage UK, two vital programmes dedicated to enhancing the wellbeing of children during treatment.

In addition, we are taking steps to ensure that the voices of those with lived experience are more deeply embedded in our work with the help of our Patient and Public Involvement initiative. Our goal is to ensure that their insights and experiences inform our decision-making at every level. By including patient voices in everything we do, from funding cutting-edge research to improving support services, we can ensure our work remains as impactful as possible. We look forward to sharing more details soon on how families and individuals can offer their valuable input to our mission at Children with Cancer UK.

Our mission is: ‘Through our pioneering research, we develop new methods for identifying and treating childhood cancers. Our aim is to improve survival as well as quality of life during and post-treatment for children, teenagers, and young adults with cancer. We help the public and scientific community understand the issues around childhood cancer better’.

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Human Resources

Introduction

As the charity continues to grow and evolve in its mission to combat paediatric cancer, the focus on its people is more critical than ever. The performance and sustainability of the charity’s workforce are vital in achieving our strategic goals. This report outlines key HR metrics for 2024 and highlights the priorities and initiatives for 2025 that will support employee engagement, development, and retention.

Workforce Overview

As of December 2024, the charity employed 42 staff members (2023: 41) across various roles, including fundraising, research, administration, and frontline services. The workforce is diverse, dedicated, and mission driven.

Staff Turnover

While turnover was in line with industry averages for the charity sector, the charity keeps improving its enhanced employee engagement, development, and support strategies to foster retention and job satisfaction.

HR Strategic Focus for 2025: The People Plan

The People Plan for 2025 focuses on the alignment of HR practices with the charity’s long-term goals, with an emphasis on improving retention, employee wellbeing, and engagement. The following initiatives have been identified as priority areas for development and execution throughout the year:

Safeguarding

At Children with Cancer UK, safeguarding is at the heart of everything we do — not only for the children and families we serve, but also for our employees, volunteers, partners, and everyone connected to our mission. We are committed to creating a safe, respectful, and supportive environment where every individual feels protected and valued.

Key improvements include:

• Ongoing support and guidance for the newly appointed Designated Safeguarding Lead, Fiona Judge, through the new safeguarding team, made up of staff from across various departments.

• Regular training and updates for staff to stay informed and confident in safeguarding practices.

Review of Employee Contracts, Policies, and Handbook

We constantly review and update all employee contracts, policies, and the staff handbook to:

• Ensure they meet best practice standards, reflecting current employment law and sector norms.

• Address gaps identified through employee feedback and recent internal reviews.

Review of EDI Policy and Practices

Equity, Diversity, and Inclusion (EDI) remain a central focus for the charity. In 2025, we will:

• Conduct a thorough review of existing EDI policies and practices.

• Work with external consultants to identify areas for improvement, ensuring the charity remains a welcoming and inclusive workplace for all.

The charity’s focus on its people is integral to its continued success and ability to deliver its mission. The activities outlined in the People Plan will drive meaningful improvements in employee satisfaction, retention, and engagement. By investing in our workforce, we are ensuring that we have the right talent, skills, and commitment in place to achieve our strategic objectives and support the ongoing fight against paediatric cancer.

The HR team will monitor the progress of these initiatives throughout the year and continue to gather feedback to ensure that we remain agile and responsive to the needs of our staff.

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Going Concern

The Trustees have carefully considered the organisation’s ability to continue operating as a going concern and are confident that it remains sustainable for the foreseeable future—defined as at least 12 months from the date of approving these financial statements.

In reaching this conclusion, they reviewed key financial indicators including cash flow forecasts, liquidity, reserves, and the approved budget for the year ahead. As part of this process, a range of potential risks were evaluated, such as fluctuations in income from donations and investments, inflationary pressures, and any unforeseen operational challenges.

While the broader economic environment remains uncertain, the charity has a resilient financial foundation. A strong mix of income streams, stable support from donors and partners, and responsible stewardship of resources have helped ensure year-on-year surpluses and healthy unrestricted reserves. This enables us to continue funding essential research, support services, and capital projects without interruption.

Our income strategy continues to perform well, supported by committed individual donors, corporate relationships, and grant-making organisations. Alongside this, operational discipline has allowed us to control costs effectively and plan with confidence.

Future planning incorporates regular scenario testing and sensitivity analysis, helping us stay responsive to emerging risks and adapt where necessary. With this proactive approach, we’re well placed to meet upcoming challenges while remaining focused on our mission.

Taking all these factors into account, the Trustees have no material uncertainty about the organisation’s ongoing viability. As such, the financial statements have been prepared on a going concern basis.

Investments

In accordance with the charity’s Memorandum of Association and its Investment Policy, the Trustees are authorised to invest funds in various manners, following professional advice where appropriate. This approach ensures that investments remain well-diversified, suitable to the charity’s needs, and aligned with its long-term objectives and risk tolerance.

Investment Objectives

The overarching aim of the charity’s investment strategy is to support its charitable activities— particularly the funding of vital research—while maintaining financial resilience. The specific investment objectives are:

• Generate Sustainable Returns: To achieve a total return typically in the region of CPI +3% per annum over the long term, within a low to medium risk tolerance.

• Enable Grant Funding: Investments must support the charity’s capacity to award research grants while seeking to achieve capital growth and inflation protection.

• Preserve Real Capital Value: Ensuring that invested funds retain their value in real terms, considering inflation and other economic factors.

Current Investment Portfolio

As of 31 December 2024, the charity’s investment assets were allocated as follows:

• Long-Term Investments: £12.8 million

• Short-Term Cash Deposits: £4.9 million, held in low-risk, liquid accounts to meet near-term operational and grant-related cash requirements.

The portfolio remains appropriately diversified across asset classes and investment managers, in line with the charity’s risk framework and liquidity needs.

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Investment Strategy and Risk Management

The Trustees continue to implement a disciplined investment strategy guided by the following principles:

• Diversification: Investments are spread across different asset classes and managers to reduce risk and enhance potential returns. The charity currently uses Barclays Investment Managers and Rathbones Wealth & Investment to manage long-term funds, ensuring professional oversight and diversification.

• Liquidity and Risk Alignment: Funds earmarked for short-term obligations—particularly grant commitments—are held in instant-access, capital-secure deposits. This ensures funds remain readily available and protected from market fluctuations.

• Ongoing Monitoring and Governance: Investment performance is reviewed regularly against agreed benchmarks. The strategy is subject to periodic review by the Finance & Investment Committee, with oversight from the Board of Trustees, to ensure it remains fit for purpose in evolving economic conditions.

In 2024, the portfolio performed in line with expectations, delivering satisfactory returns within the defined risk parameters. Looking ahead to 2025, the charity is actively exploring opportunities to enhance returns through potential reallocation to higher-performing funds—while maintaining appropriate diversification and prudent risk controls.

Cash Management and Grant Liabilities

As part of its cash management approach, the charity maintains sufficient cash levels to cover fluctuating needs and anticipated grant liabilities. At year-end, anticipated grant liabilities stood at approximately £13.1 million (2023: £13.0 million). All short-term funds are managed conservatively, with capital preservation as the primary objective, recognising their role in fulfilling future commitments.

Forward Outlook and Strategic Alignment

The Trustees remain committed to maintaining an investment policy that balances the need for capital growth with the operational requirement for liquidity and financial prudence. The policy is reviewed regularly to reflect changes in market conditions, macroeconomic trends, and the evolving strategic priorities of the charity.

By maintaining a structured and agile investment approach, underpinned by strong governance and expert advice, the charity is well positioned to deliver on its mission—funding ground-breaking research and supporting children with cancer—while safeguarding its long-term financial sustainability.

Risk and Internal Control

Governance and Oversight

The Trustees have overall responsibility for ensuring that Children with Cancer UK maintains a robust and proportionate system of internal control—covering both financial and operational activities. This framework is designed to safeguard the charity’s assets, support the delivery of strategic objectives, and ensure resources are used effectively, efficiently, and in compliance with all applicable laws and regulations.

The Board is fully committed to protecting the charity from fraud, financial mismanagement, data breaches, and other risks that could compromise its mission, reputation, or operational effectiveness.

Key Areas of Internal Control Safeguarding of Assets

Comprehensive measures are in place to prevent the unauthorised use, loss, or misappropriation of assets. These include:

• Secure handling and banking of donations.

• Professional management of investments with oversight from the Trustees.

• Authorisation protocols for significant transactions.

• Periodic reconciliation and physical asset verification.

All investment portfolios are managed by FCA-regulated firms, with performance and risk reviewed regularly against agreed mandates.

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Financial Accuracy and Transparency

The charity maintains a robust financial control environment to ensure the reliability of internal and external financial information. Key processes include:

• Maintenance of complete and accurate accounting records.

• Regular bank reconciliations and review of income and expenditure reports.

• Compliance with the Charities SORP and relevant UK accounting standards.

• All financial reporting used for strategic decision-making undergoes rigorous review to ensure clarity, completeness, and timeliness.

Legal and Regulatory Compliance

The charity complies with all statutory and regulatory requirements relevant to its operations, including those relating to charity law, data protection, fundraising, and employment. Trustees and key staff receive regular updates and training to remain informed of legislative changes and sector expectations.

Risk Management Framework

The Trustees recognise that proactive and structured risk management is essential to the effective operation of the charity. The framework comprises:

Risk Identification and Assessment

Risks are regularly identified and assessed across all areas of activity—strategic, operational, financial, reputational, and compliance. Specific focus is given to:

• Grant and research funding risks.

• Fundraising volatility.

• External economic and regulatory changes.

• IT security and data protection.

• Safeguarding and staff conduct.

Each identified risk is assessed based on likelihood and impact and is recorded in a central risk register.

Mitigation and Monitoring

Risk mitigation strategies include the use of:

• Segregation of duties and authorisation thresholds.

• Insurance cover for key operational and liability exposures.

• Oversight by Finance, Audit and Risk Committee.

• Regular internal and external audit activity to test the effectiveness of controls.

• The risk register is reviewed quarterly and updated to reflect emerging risks and actions taken.

Fraud and Safeguarding Controls

The charity operates a zero-tolerance approach to fraud and safeguarding breaches. Key measures include:

• A formal Whistleblowing Policy.

• Clear escalation procedures for concerns.

• Periodic fraud risk reviews.

• Ongoing staff training on safeguarding principles and ethical behaviour.

• Prompt investigation of any reported incidents, with appropriate action taken.

Continuous Improvement and Assurance

While no system of internal control can eliminate all risk, the charity’s control environment is designed to provide reasonable assurance that key risks are being managed effectively.

The Trustees are committed to continuous improvement. Lessons learned from audits, operational reviews, and incidents are incorporated into updated procedures, with accountability built into reporting lines. Regular self-assessments and third-party reviews are used to benchmark and strengthen the overall control framework.

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

The Trustees are satisfied that the current internal control and risk management arrangements are appropriate for the scale and complexity of the charity. These systems provide a sound basis for maintaining public trust, protecting assets, supporting strategic delivery, and ensuring the charity continues to operate effectively in pursuit of its mission.

Principal Risks and Uncertainties

Overview

The Charity faces several principal risks and uncertainties in the current economic climate. These risks are regularly reviewed by the Trustees, and appropriate mitigation strategies are implemented to ensure the continued effectiveness and stability of our operations.

The following risks are deemed low but are reviewed frequently.

Principal Risks

Fundraising Risks:

The Charity remains heavily reliant on mainstream fundraising income to support its research activities. A significant risk is that income may decline due to economic pressures, which could impact our ability to fund research effectively and maintain stable reserves. To manage this risk, we are diversifying our income streams, investing in new fundraising channels, and continuously monitoring the impact of economic conditions on donor behaviour and contributions.

Economic Climate:

The current economic climate in the UK, including inflationary pressures, geopolitical wars and increased cost of living, poses risks to our operational and financial stability. These economic factors can affect both the availability of donor funds and the cost of delivering our programs but more importantly the value which can be earned on our investments through dividends and growth. We are actively reviewing our expenditure, renegotiating contracts where possible, and seeking efficiencies to mitigate these impacts.

Regulatory Compliance:

Ensuring compliance with relevant laws and regulations remains a critical focus. This includes adapting to any new regulatory requirements and maintaining rigorous internal controls to ensure ongoing compliance. This would include the new SORP accounting framework being reviewed at the moment.

Infrastructure & Operations:

Risks related to the adequacy and reliability of our infrastructure and operations are continuously assessed. This includes managing operational costs and ensuring that our systems and processes are resilient to economic fluctuations.

Charitable Impact:

Assessing the effectiveness and impact of our research funding is crucial. We need to ensure that our funding decisions are aligned with our strategic objectives and that funded projects deliver meaningful outcomes.

Profile & Brand:

Managing the Charity’s profile and brand reputation is essential, particularly in a competitive fundraising environment. Maintaining a strong public image and effectively communicating our mission and impact are key to sustaining donor support.

Financial Risks:

Financial management risks include ensuring that our investment portfolio performs well and that we maintain sufficient reserves. We regularly review our investment strategy to balance returns with acceptable risk levels and ensure that our financial position remains robust.

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Governance:

Effective governance is critical to the Charity’s success. This involves ensuring that our governance structures are robust, that Trustees and management are well-supported, and that we adhere to best practices in governance and oversight.

Mitigation Strategies

Each identified risk is assessed in terms of its probability and impact, with mitigation strategies developed as necessary. These strategies include:

Diversification: Expanding fundraising activities and income sources to reduce reliance on any single source of funding.

Cost Management: Implementing stringent expenditure controls and seeking efficiencies to manage the impact of economic pressures.

Regular Review: Continuously monitoring financial performance and operational effectiveness to adapt to changing conditions.

Governance Improvements: Ensuring that governance practices are regularly reviewed and enhanced to address emerging challenges.

Policies: Update of policies and procedures to mitigate risk is ongoing with regular review and suggestions implemented.

Financial Position and Stability

Despite these risks, the Charity is in a strong financial position. The current reserves and diversified income streams provide a solid foundation for managing potential financial impacts. The Charity’s robust financial management and strategic planning ensure that we can weather economic fluctuations and maintain operational stability. There is no indication of financial instability, and any potential issues can be effectively mitigated through our established risk management processes. The charity has ample resources to weather storms and can continue to trade if needs must through tough geopolitical conditions.

Trustee and Management Oversight

The trustees and senior leadership team regularly review and discuss these principal risks as part of our risk management strategy. We remain committed to addressing these risks proactively to safeguard the Charity’s mission and ensure its continued success.

The trustees and senior leadership team are dedicated to managing the Charity’s risks effectively in the current economic climate. By maintaining a proactive approach to risk management and adapting to changing conditions, we aim to support our mission of funding impactful cancer research and achieving our strategic objectives.

Structure, Governance and Management

The financial statements have been prepared in accordance with current statutory requirements, the Memorandum and Articles of Association, the Accounting and Reporting by Charities Statement of Recommended Practice (SORP FRS 102), and applicable accounting standards (FRS 102).

Governing Documents

These financial statements are for Children with Cancer UK and its subsidiary Helping Children with Cancer Limited.

Children with Cancer UK is a company limited by guarantee and operates under its Memorandum and Articles of Association dated 11th November 2003 as amended by special or written resolutions, dated 30th November 2004, 22nd December 2006, 12th May 2007, 28th July 2016 and 13th December 2021 and finally 20th January 2025.

On 14th May 2007 the reporting charity changed its name from CHILDREN with LEUKAEMIA UK to Children with Cancer UK. However, the charity continued to use the working name of CHILDREN with LEUKAEMIA until 11th May 2011.

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

The charity operates under its Trust Deed (dated 4[th] January 1988) and Variation of Trust Deed (dated 10[th] December 2003).

The Trustees have reviewed and acknowledge the principles and recommendations outlined in the Charity Governance Code. The Senior Leadership Team was assigned the responsibility of evaluating the Charity's governance practices against the Charity Governance Code and identifying key areas for improvement. Following this assessment, it was recommended that an independent Governance Review be conducted. The Trustees authorized this review and directed the Senior Leadership Team to implement all recommendations.

Significant progress has been achieved, with majority of the recommendations successfully implemented. Plans are in place to address the remaining items within the next 12 months.

Aims and Objectives Purposes and Aims

The charity’s objects as amended by written resolution of 12[th] May 2007, and 28th July 2016 are shown below:

• To promote the relief of children and young people suffering with leukaemia or any other form of cancer (and allied disorders) and of their families;

• To raise public awareness and knowledge in matters relating to leukaemia or any other form of cancer (and allied disorders) affecting children and young people; and

• To promote research into the causes, alleviation, prevention, treatment and cure of leukaemia or any other form of cancer (and allied disorders) affecting children and young people and to publish the useful results of such research.

Our aims are to determine the causes, find the cure and provide care for children with cancer.

We fund life-saving research into the causes, prevention and treatment of childhood cancer.

We fund innovative welfare projects to provide better care for young cancer patients and their families.

We campaign to raise awareness of childhood cancer to protect more children and to improve the lives of young cancer patients, today and for future generations.

We are a member of the Association of Medical Research Charities. We are also a member of the National Cancer Research Institute.

Further details of the projects we fund are detailed in note 23.

Public Benefit

The Trustees continue to give due regard to the public benefit provided by the charity in relation to its charitable purpose as set out by the objectives above and have given due consideration to the relevant guidance issued by the Charity Commission. The Trustees will continue to ensure that the activities that promote the charitable objects above will be applied to provide public benefit.

Board of Trustees

The governing body of the reporting charity is the Board of Trustees, which has a total of six members (2023: five). The Trustees of the charity also act as the Directors of the charitable company. The Board meets at least three times a year together with the Chief Executive and other senior management where appropriate.

The Finance, Audit and Risk committee is a subcommittee of the Board. The subcommittee meets at least quarterly and consists of a combination of Trustees, Staff and External Advisors and Specialised Volunteers (if required). The committee will draw to the attention of the Board any urgent issues that require authorisation, disclosure or action and escalate any urgent issues for immediate attention outside of the Board meeting schedule. The charity is in the midst of setting up other committees and expanding the board members to achieve a wholistic representation for the charity.

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Trustee appointment and induction

There was one new appointment (2023: two) to the Trustee Board in 2024. Three Trustees left the board during 2024 (2023: two). The selection of Trustees is made based on vacancies arising, sympathy with the objects of the charity and the additional skills and experience that potential new Trustees are able to afford. Under the Articles of Association, Trustees are appointed by a majority vote of the members (who are all the current Trustees) by ordinary resolution.

Each new Trustee receives the Charity Commission publication ‘The Essential Trustee: What you need to know’, the most recent published annual report and other resources deemed necessary to complete the appointment. The Chief Executive Officer and Chair offer an induction day to all Trustees which provides full information about the operations of the charity.

Management

The Trustees exercise executive responsibility for the governance of the charity and, through the Chairman, supervise the management of the charity by the Chief Executive Officer and the executive team. The Chairman and Chief Executive Officer also task the Board with decision-making on strategic management issues as well as overseeing the research grants application process and monitoring the progress of awarded grants.

The senior management carry out the operational running of the charity and the coordinating of fundraising appeals and events.

Remuneration

The salaries of Children with Cancer UK staff are periodically benchmarked against other charities and commercial institutions to ensure that salary levels are market competitive and sufficient to attract and retain staff of the appropriate calibre. All staff posts are periodically evaluated to ensure that salary levels are reflective of industry and organisational needs, as well as individual and charity performance. The London Living Wage was used as a minimum for all new hirers. In recruitment of a new post, an assessment is made of the requirements of the role in terms of skills, experience, competency and urgency. The salary is then determined on the basis of this assessment and the current market conditions.

Salary Bands have been set based on external benchmarking, anecdotal data from head-hunters and recruiters, and charity sector salary surveys. The Salary Bands are reviewed at least every two years.

The Charity is compliant with the Hutton Fair Pay Review with the salary of the highest paid employee being no more than four times the median salary of the organisation.

Trading Subsidiary

Helping Children with Cancer Limited (company registration 2807553) is the wholly owned trading subsidiary of Children with Cancer UK. Its principal purpose is to raise funds for the charity and all taxable profits are donated under Gift Aid.

The principal activity of the Company is the licensing of the name and logo of the charity for use in corporate sponsorship, commercial agreements and royalties from contribution to clinical trials.

The trading activities generated profit for the year of £593,637 (2023: £109,048) which will be paid to Children with Cancer UK under the Gift Aid Scheme.

The trading subsidiary holds assets of £652,053 (2023: £148,893) and liabilities of £652,053 (2023: 148,793) with funds of £100 as at 31st December 2024.

The charity also holds 100% of the share capital of Children with Cancer Research Limited (09442350) which is currently dormant.

Related parties

The Charity has a related party and conflict of interest policy in place which accompanies the Declaration of Interests submissions completed by all Trustees and senior management. A Conflicts of Interest register is in place which is updated when a conflict of interest is declared or has been identified and the register is reviewed at least annually.

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Grant making policy

It is the Trustees’ policy to maximise the proportion of its charitable output that is achieved through grant making.

Welfare grants

There is no open application process for welfare grants and no welfare grants are given to individuals. The Trustees determine which organisations are to be supported.

Research grants

The Trustees aim to award an increasing proportion of the charity’s grants to scientific and medical research in cancers affecting children, teenagers and young adults. The charity’s Code of Practice adheres to the standards set by the Association of Medical Research Charities (AMRC).

The charity advertises guidelines and invite applications for project grant rounds. Project applications are subject to formal internal and external peer review followed by scrutiny by our Scientific Advisory Panel (SAP) before the Trustees determine which projects to support. We also occasionally support research through other charity partners.

Reference and Administration

Children with Cancer UK (previously known as CHILDREN with LEUKAEMIA UK) was set up in memory of Paul O’Gorman who died on 6th February 1987 and his sister Jean, who died on 3rd November 1987. The charity was inaugurated by Diana, Princess of Wales on 12th January 1988 at Mill Hill County High School where Paul had been a pupil.

Trustees

The Trustees of Children with Cancer UK are the charity’s Trustees under charity law and the directors of the charitable company:

Current Trustees

David Gibbs (Chair of Trustees)

Phil Hall

Bruce Morland

Sara Wakeling (Appointed 10th January 2025)

Nick Bird (Appointed 18th June 2025)

Tamara Ludlow (Appointed 26th June 2025)

Previous Trustees

Lindsey Cape (Resigned 29th February 2024)

Sarah Standing (Resigned 13th September 2024)

Alex Leitch (Resigned 10[th] October 2024)

Senior Leadership Team

Gavin Maggs (CEO)

Selina Wedderburn (Head of HR) Ben Angus (Head of Research) Fadil Dugolli (Head of IT) Fiona Judge (Head of Supporter Care) Hannah Chambers (Head of Marketing and Communications) Ari Kotsis (Chief Finance Officer) Alex Hayward (Head of Public Fundraising)

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Registered Charity Number

298405

Registered Company Number

4960054

Principal office

21-27 Lamb's Conduit Street, London, WC1N 3NL

Auditors

PKF Littlejohn LLP, 15 Westferry Circus, London E14 4HD

Solicitors

Simons Muirhead Burton, 87-91 Newman St, London, W1A 4UQ

Bankers

National Westminster Bank PLC, 30 North Audley Street, London W1A 4UQ

Contact details

Children with Cancer UK

21-27 Lamb's Conduit Street, London, WC1N 3NL

Tel: [phone] Email: [e-mail] www.childrenwithcancer.org.uk

Scientific Advisory Panel

We are indebted to the members of our Scientific Advisory Panel (SAP) who freely give their time and expertise to help drive forward our fight against cancers affecting children and young people. Research into cancers affecting children and young people is a broad field and we aim to reflect the diversity of the field amongst the membership of panel members.

Dr Christina Halsey continues to chair the Scientific Advisory Panel.

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Statement of Trustees’ Responsibilities

The Trustees (who are also directors of Children with Cancer UK for the purposes of company law) are responsible for preparing the Strategic Report, the Trustees’ Report and the financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year. Under company 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 charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable company and the group for that period. 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.

• make judgments and 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; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company and group will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions, disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and the provisions of the charity’s constitution. They are also responsible for safeguarding the assets of the charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Insofar as each of the Trustees of the charitable company at the date of approval of this report is aware there is no relevant audit information (information needed by the charitable company’s auditor in connection with preparing the audit report) of which the charitable company’s auditor is unaware. Each Trustee has taken all of the steps that he/she should have taken as a Trustee in order to make himself/herself aware of any relevant audit information and to establish that the charitable company’s auditor is aware of that information.

This Annual Report of the Trustees, prepared under the Charities Act 2011 and the Companies Act 2006, was approved by the Board of Trustees on 26[th] September 2024 including approving in their capacity as company directors the Strategic Report contained therein, and is signed as authorised on its behalf by:

David Gibbs Chair of Trustees Date: 24[th] September 2025

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Independent Auditor’s Report to the Members of the Children with Cancer UK

Opinion

We have audited the financial statements of Children with Cancer UK (the ‘parent charitable company’) and its subsidiary (the ‘group’) for the year ended 31 December 2024 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Parent Charitable Company Balance Sheets, the Consolidated Cash Flow Statements 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 FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• give a true and fair view of the state of the group’s and the parent charitable company’s affairs as at 31 December 2024, and of the group’s 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 Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company 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 financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group’s or parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the trustees’ annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether 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.

Opinions on other matters prescribed by the Companies Act 2006

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

• the information given in the trustees’ report, which includes the strategic report and the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the directors’ report included within the trustees’ report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report included within the trustees’ annual report.

Under the Companies Act 2006 we are required to report in respect of the following matters if, in our opinion:

• adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or

• the parent charitable company’s financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees’ remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

We have nothing to report in respect of these matters.

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the group and parent charitable company 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 group and parent charitable company financial statements, the trustees are responsible for assessing the group and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed auditor under the Companies Act 2006 and report in accordance with this Act and relevant regulations made or having effect thereunder.

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

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of 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.

• We obtained an understanding of the group and parent charitable company and the sector in which they operate to identify laws and regulations that could reasonably be expected to have a direct effect on the financial statements. We obtained our understanding in this regard through discussions with management, sector research, application of cumulative audit knowledge and experience.

• We determined the principal laws and regulations relevant to the group and parent charitable company in this regard to be those arising from Companies Act 2006, Charities Act 2011 and employee and tax legislation.

• We designed our audit procedures to ensure the audit team considered whether there were any indications of non-compliance by the group and parent charitable company with those laws and regulations. These procedures included, but were not limited to enquiries of management, review of minutes, and review of regulatory correspondence.

• We also identified the risks of material misstatement of the financial statements due to fraud. We considered, in addition to the non-rebuttable presumption of a risk of fraud arising from management override of controls, that there was the potential for management bias in the recognition of legacy income. To address this risk we tested a sample of legacies to evaluate whether the income had been recognised appropriately under the Charities SORP, including a review of post year end correspondence to assess the completeness of legacy income.

• We also identified potential for management bias in the recognition of grant expenditure in the correct accounting period. To address this risk we tested a sample of agreements between the charitable company and its beneficiaries to evaluate whether the expenditure and the corresponding payment or creditor have been recognised appropriately.

• We also identified potential for management bias in the classification of funds between restricted and unrestricted. To address this risk we tested a sample of income and expenditure in the year to assess whether they have been classified appropriately.

• As in all of our audits, we addressed the risk of fraud arising from management override of controls by performing audit procedures which included, but were not limited to: the testing of journals; reviewing accounting estimates for evidence of bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/library/standards-codes-policy/auditassurance-and-ethics/auditors-responsibilities-for-the-audit/

. This description forms part of our auditor’s report.

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone, other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Alastair S. Duke (Senior Statutory Auditor) For and on behalf of PKF Littlejohn LLP Statutory Auditor

15 Westferry Circus Canary Wharf London E14 4HD

25th September 2025

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Consolidated statement of financial activities for the year ended 31 December 2024

(Incorporating an income and expenditure account)

----- Start of picture text -----
Total Total
restricted unrestricted Total Total
Note funds funds 2024 2023
£ £ £ £
Income from:
Donations and legacies 4 732,833 14,105,220 14,838,053 13,643,162
Other trading activities 4 - 1,134,242 1,134,242 883,917
Income from investments - 568,085 568,085 453,300
Other income 176,495 464,765 641,260 211,823
Total Income 20 909,328 16,272,312 17,181,640 15,192,202
Expenditure on:
Raising funds 6 - 3,360,139 3,360,139 2,447,063
Charitable activities 6, 8 486,498 10,251,930 10,738,428 9,644,899
Total Expenditure 6 486,498 13,612,069 14,098,567 12,091,962
Net change in 14 -
627,118 627,118 441,084
investments
Net
422,830 3,287,361 3,710,191 3,541,324
(expenditure)/income
Transfers between funds - - - -
Net movement in funds 422,830 3,287,361 3,710,191 3,541,324
Reconciliation of funds: - - - -
Total funds brought -
18,381,604 18,381,604 14,840,280
forward
Total funds carried
20 422,830 21,668,965 22,091,795 18,381,604
forward
----- End of picture text -----

The comparative figures for each fund are shown in note 3 to the financial statements.

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Balance sheet as at 31 December 2024

Company Number: 4960054

----- Start of picture text -----
2024 2023
Note Group Charity Group Charity
Fixed assets £ £ £ £
Property 12 3,742,724 3,742,724 2,495,899 2,495,899
Intangible Assets 13 1,479,585 1,479,585 1,500,584 1,500,584
Investments 14 12,751,354 12,751,454 12,162,502 12,162,602
17,973,663 17,973,763 16,158,985 16,159,085
Current assets
Debtors and prepayments 15 3,172,781 3,383,447 2,765,835 2,924,038
Cash deposits 4,889,610 4,889,610 4,751,924 4,751,924
Cash at bank and in hand 11,176,934 10,955,836 8,911,885 8,762,992
19,239,325 19,228,893 16,429,644 16,438,954
Creditors: amounts
falling due within one
year
Grants 16 (4,554,027) (4,554,027) (6,590,941) (6,590,941)
Other 17 (2,004,247) (1,993,915) (1,209,970) (1,219,380)
Net current assets 12,681,051 12,680,951 8,628,733 8,628,633
Total assets less current
liabilities 30,654,714 30,654,714 24,787,718 24,787,718
Creditors: amounts
falling due after more
than one year
Grants 16 (8,562,919) (8,562,919) (6,406,114) (6,406,114)
Net assets 22,091,795 22,091,795 18,381,604 18,381,604
Represented by:
Unrestricted funds 20 21,668,965 21,668,965 18,381,604 18,381,604
Restricted funds 20 422,830 422,830 - -
----- End of picture text -----

The net surplus for the financial year dealt within the financial statements of the parent charitable company was £3,710,191 (2023: net surplus £3,541,324).

The notes on pages 34 to 49 form part of the financial statements.

Approved and authorised for issue on behalf of the Trustees on 24[th] September 2025.

David Gibbs Trustee

Phil Hall Trustee

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Consolidated cash flow statement for the year ended 31 December 2024

----- Start of picture text -----
2024 2023
£ £
Cash flows from operating activities:
Net cash provided by operating a)
3,198,824 3,349,690
activities
Cash flows from investing activities:
Dividends and interest from
568,085 453,300
investments
Net additions/(disposals) in the year - (10,005,321)
Purchase & Improvements of Fixed
Assets (1,246,825) (895,899)
Purchase of Intangible Assets (117,349) (1,500,584)
Net cash provided by investing
activities (796,089) (11,948,504)
Change in cash and cash equivalents
in the reporting period 2,402,735 (8,598,814)
Cash and cash equivalents at the b)
13,663,809 22,262,623
beginning of the reporting period
Cash and cash equivalents at the end b)
16,066,544 13,663,809
of the reporting period
Notes to the Cash flow Statement
a) Reconciliation of net (expenditure) 2024 2023
to net cash flow from operating
£ £
activities
Net (expenditure)/income for the
3,710,191 3,541,324
reporting period
Adjustments for:
Dividends, interest and rents from
investments (568,085) (453,300)
Investment Manager Fees 38,266 28,048
Net Change in investments (627,118) (441,084)
Decrease / (increase) in debtors (406,946) 182,163
(Decrease) / increase in creditors 914,168 492,539
Amortization Charge for the year 138,348 -
Net cash provided by (used in)
3,198,824 3,349,690
operating activities
b) Analysis of cash and cash 01-Jan-24 Cashflow 31-Dec-24
equivalents
£ £ £
Cash at bank and in hand 8,911,885 2,265,049 11,176,934
Cash held as short term investments 4,751,924 137,686 4,889,610
Cash held as long term investments - - -
13,663,809 16,066,544
----- End of picture text -----

34

Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Notes to the financial statements for the year ended 31 December 2024

1. Charity Information

Children with Cancer UK is limited by guarantee with no share capital (registered number 4960054), which is incorporated in England and Wales and domiciled in the UK. The address of the registered office is 21-27 Lamb's Conduit Street, London, WC1N 3NL. It is also a registered charity (registered number 298405) and as such is a non-profit making organisation. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member.

2. Accounting policies

• a) Basis of preparation

The financial statements have been prepared on the historical cost basis of accounting, as modified by the revaluation of investments, and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Companies Act 2006, the Charities SORP (FRS 102) and the accounting policies set out below.

The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Children with Cancer UK is the ultimate parent company. It has two subsidiaries - Helping Children with Cancer Limited and Children with Cancer Research Limited. Children with Cancer UK owns the whole of the share capital of Helping Children with Cancer Limited, a company registered in England and Wales, number 2807553. It also holds 100% of the share capital of Children with Cancer Research Limited, a company registered in England and Wales, number 09442350 which is currently dormant.

The financial statements of the charity and its active subsidiary company are consolidated, on a line-by-line basis, to produce the Group financial statements. The consolidated entity is referred to as ‘the Group’. No separate Statement of Financial Activities has been prepared for the charity as permitted by Section 408 of the Companies Act 2006. The charity has taken advantage of the exemptions in FRS 102 from the requirements to present a charity only Cash Flow Statement and certain disclosures about the charity’s financial instruments.

• b) Preparation of the accounts on a going concern basis

The Trustees have assessed the charity’s ability to continue as a going concern and are confident that it remains financially sustainable over the foreseeable future, a period of at least 12 months from the date of approval of these financial statements.

• c) Financial Instruments

The charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost. Financial assets held at amortised cost comprise cash at bank and in hand, short term cash deposits together with the group’s trade and other debtors excluding prepayments. Financial liabilities held at amortised cost comprise the group’s short- and long-term trade and other creditors excluding deferred income and taxation payable. No discounting has been applied to these financial instruments on the basis that the periods over which amounts will be settled are such that any discounting would be immaterial.

Investments, including cash held as part of the investment portfolio are held at fair value at the Balance Sheet date, with gains and losses being recognised within the Statement of Financial Activities. Investments in subsidiary undertakings are held at cost less impairment.

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

• d) Critical accounting judgements and key sources of estimation uncertainty

In the application of the charity’s accounting policies, Trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects the current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described in the accounting policies and are summarised below:

Residuary legacies – The charity recognises residuary legacies once probate has been granted which therefore requires an estimation of the amount receivable.

• e) Functional/Presentational currency

The functional currency of the charity and its subsidiary is considered to be in pounds sterling because that is the currency of the primary economic environment in which the charity/group operates. The consolidated financial statements are also presented in pounds sterling.

f) Fund accounting

Unrestricted funds comprise accumulated surpluses and deficits on general funds and are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund.

g) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Voluntary income in the form of appeals, committed giving, sports events and community fundraising income is recognised in the period of receipt. Income received in advance of an event or lottery is deferred until the criteria for income recognition are met.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

For the purposes of these financial statements, only legacy income where entitlement was established on or before May 31st has been included, after this date it is treated as a post yearend event and will be recognised in the following financial year.

Income arising from corporates and trusts is recognised in the period in which the charity has entitlement to the income.

Income from trading activities is recognised in the period in which the service has been provided or product sold.

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Investment income from dividends and interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest received or receivable from the Bank.

Government grants are recognised on the performance model, when the Charitable Company has complied with any conditions attaching to the grant and the grant will be received.

h) Expenditure and basis of allocation of costs

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis and the majority is directly attributable to specific activities. Other indirect costs are apportioned to activities in accordance with staff activity and an assessment of where the resources have been applied. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Grants to third parties are included in the SOFA when approved by the Trustees when a constructive obligation exists, notwithstanding that they may be paid in future accounting periods.

Support costs include governance costs which are costs incurred to manage the charity in compliance with constitutional and statutory requirements and the direct expenditure and overhead costs relating to the appeals and fundraising functions. They also include the allocation of costs incurred to support and co-ordinate fundraising activities. These costs are allocated across the categories of charitable activities and the basis of this cost allocation has been explained in note 7 of the financial statements.

Expenditure on raising funds includes expenditure specifically incurred for fundraising purposes. This constitutes a mixture of directly attributable costs and apportionment.

i) Fixed assets

Tangible and Intangible fixed assets costing more than £10,000 are capitalised. Depreciation and amortisation are charged on fixed assets on a straight basis based on the expected useful life of the asset, once it has come into use.

The useful lives of the assets in use at year end are as follows:

Kids Like Us Documentary - 44 months

j) Pension scheme

Eligible employees are enrolled onto a Grouped Stakeholder Pension Plan provided by Scottish Widows. During 2024, the charity made a contribution of at least 5% of salary per month to the stakeholder pension scheme for all eligible employees serving for more than three months who elected to take advantage of this benefit. The amount charged to the statement of financial activities in respect of pension costs is the contribution payable during the year.

k) Investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

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Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

l) Gifts in Kind

Gifts in kind and donated goods and services are recognised in the accounts when the benefit to the charity is reasonably quantifiable and measurable. The value is the price the charity estimates it would pay should it purchase equivalent goods or services.

The estimated valuation of gifts in kind is based on the value of the contribution to the charity, or the valuation the charity would have had to pay to acquire the goods or services. A corresponding amount is recognised within expenditure in the period of receipt.

m) Private Medical Insurance

Permanent employees employed prior to 2020 were entitled to join the Group Private Medical Insurance Scheme provided by Bupa. In 2024, the charity paid a premium based on the employee’s ages per month for all employees receiving benefit. The amount charged to the statement of financial activi ties in respect of private medical insurance is the contribution payable during the year.

3. Consolidated statement of financial activities for the year ended 31 December 2023

----- Start of picture text -----
Total Total
Total
restricted unrestricted
2023
funds funds
£
£ £
Income from:
Donations and legacies 140,959 13,502,203 13,643,162
Other trading activities - 883,917 883,917
Income from investments - 453,300 453,300
Other income 134,479 77,344 211,823
Total Income 275,438 14,916,764 15,192,202
Expenditure on:
Raising funds - 2,447,063 2,447,063
Charitable activities 275,438 9,369,461 9,644,899
Total Expenditure 275,438 11,816,524 12,091,962
Net change in investments - 441,084 441,084
Net (expenditure)/income - 3,541,324 3,541,324
Transfers between funds - - -
Net movement in funds - 3,541,324 3,541,324
Reconciliation of funds:
Total funds brought forward - 14,840,280 14,840,280
Total funds carried forward - 18,381,604 18,381,604
----- End of picture text -----

38

Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

4. Income

----- Start of picture text -----
2024 2023
£ £
Donations and legacies
Appeals and associated donations (See below) 4,086,475 3,629,364
Committed giving 2,860,037 2,962,783
Sports events 4,020,656 3,017,894
Legacies (see contingent asset below) 1,993,300 2,444,893
Corporate and trust donations 1,269,595 951,282
Community fundraising 607,990 636,946
14,838,053 13,643,162
Other trading activities
Events 1,134,242 883,917
1,134,242 883,917
----- End of picture text -----

Contingent asset – legacy income

As at 31 December 2024, the charity had been notified of a further 65 residuary and pecuniary legacies which have not been recognised as income in the Statement of Financial Activities as they do not meet the criteria as detailed in the accounting policies. These legacies have an estimated value of £1,496,708 (2023: £884,216) which has not been accrued.

5. Lottery income

As part of the charity’s Gambling Commission Licence (Non-Remote Licence - 000-004700-N-306402-010) (Remote Licence – 000-004700-R-308531-010), during the year the charity has operated three lotteries, a weekly lottery and charity scratch card.

The following ticket sales were received for each lottery where the draw was held in 2024:

----- Start of picture text -----
Ticket sales
£
Weekly Lottery 425,758
Christmas Raffle (draw 12 [th] January 2024) 278,856
Spring Raffle (draw 31 May 2024) 201,083
Summer Raffle (draw 20 [th] September 2024) 189,207
Total 1,094,904
----- End of picture text -----

The Christmas Raffle spans two accounting periods. Although the draw took place during the current accounting period, the closing date was 22 December 2023 and most ticket sales were received in the previous accounting period. All other ticket sales were received during 2024 only. All ticket sales have been included within the total income for 2024 and 2023.

In line with the requirements under Social Responsibility code provision 4.3.1 of the Licence Conditions and Codes of Practice of the Gambling Act 2005 the following section details the percentage of lottery proceeds returned to the purposes of the society (Children with Cancer UK) from the lotteries promoted in 2024.

----- Start of picture text -----
Percentage
proceeds
Lottery type Lottery Name returned to
Charity %
Managed directly by Children with Cancer UK Weekly Lottery 54%
Children with Cancer
Managed directly by Children with Cancer UK Grand Draw 64%
Total 59%
----- End of picture text -----

39

Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

6. Total expenditure

----- Start of picture text -----
Direct Support and 2024
Staff Costs
Costs Governance Total
£
£ £ £
Expenditure on Raising funds
Fundraising Costs 640,842 2,080,548 638,749 3,360,139
Expenditure on Charitable activities
Research into Prevention & Causes 106,423 777,208 105,363 988,994
Research into Treatment 199,639 4,440,345 202,567 4,842,551
Welfare 245,742 1,340,793 237,930 1,824,465
Raising Awareness 463,208 2,172,971 446,239 3,082,418
1,015,012 8,731,317 992,099 10,738,428
1,655,854 10,811,865 1,630,848 14,098,567
----- End of picture text -----

----- Start of picture text -----
Direct Support and 2023
Staff Costs
Costs Governance Total
£
£ £ £
Expenditure on Raising funds
Fundraising Costs 722,127 1,260,282 464,654 2,447,063
Expenditure on Charitable activities
Research into Prevention & Causes 324,080 233,485 219,783 777,348
Research into Treatment 317,011 4,004,065 213,063 4,534,139
Welfare 380,360 1,114,687 338,231 1,833,278
Raising Awareness 758,213 1,360,557 381,364 2,500,134
1,779,664 6,712,794 1,152,441 9,644,899
2,501,791 7,973,076 1,617,095 12,091,962
----- End of picture text -----

40

Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

7. Support costs

Support costs are split as follows:

----- Start of picture text -----
Office Management Finance, Comms & 2024 Total
Admin & Governance IT & HR Marketing
£
£ £ £ £
Expenditure on Raising
funds
Fundraising Costs 144,641 93,740 265,094 135,274 638,749
Expenditure on Charitable
activities
Research into Prevention &
23,859 15,462 43,728 22,314 105,363
Causes
Research into Treatment 45,870 29,727 84,070 42,900 202,567
Wellness 53,878 34,917 98,746 50,389 237,930
Raising Awareness 101,048 65,487 185,199 94,505 446,239
369,296 239,333 676,837 345,382 1,630,848
Office Management Finance, Comms & 2023 Total
Admin & Governance IT & HR Marketing
£
£ £ £ £
Expenditure on Raising
funds
Fundraising Costs 120,805 34,997 206,645 102,207 464,654
Expenditure on Charitable
activities
Research into Prevention &
57,141 16,554 97,744 48,344 219,783
Causes
Research into Treatment 55,394 16,048 94,755 46,866 213,063
Welfare 87,937 25,475 150,421 74,398 338,231
Raising Awareness 99,864 28,651 169,175 83,674 381,364
421,141 121,725 718,740 355,489 1,617,095
----- End of picture text -----

Indirect, support and governance costs are allocated on a per person basis to staff in the office. The time spent by each staff member on every activity of the charity is allocated on a month-by-month basis throughout the year. Support and staff costs are then allocated to the various charitable activities based on this staff time basis.

41

Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

8. Costs of charitable activities

----- Start of picture text -----
Activities Grant Support and
undertaken funding of governance 2024 2023
directly activities costs Total Total
£ £ £
£ £
Research into Prevention &
645,305 238,326 105,363 988,994 777,348
Causes
Research into Treatment 826,304 3,813,680 202,567 4,842,551 4,534,139
Welfare 1,461,535 125,000 237,930 1,824,465 1,833,278
Raising Awareness 2,511,179 125,000 446,239 3,082,418 2,500,134
5,444,323 4,302,006 992,099 10,738,428 9,644,899
----- End of picture text -----

9. Net Income/ expenditure for the year

----- Start of picture text -----
2024 2023
Total Total
£ £
Net Income/ Expenditure for the year is stated after
charging/(crediting):
External Audit Fees:
Children with Cancer UK 37,500 35,700
Helping Children with Cancer Ltd 4,410 4,200
Other services from external auditor – tax advisory
Children with Cancer UK 2,630 950
Helping Children with Cancer Ltd 935 900
----- End of picture text -----

10. Staff costs

----- Start of picture text -----
2024 2023
£ £
Salaries and wages 1,417,399 1,526,867
National Insurance 143,458 163,632
Pension 86,019 98,357
Private Medical Insurance 8,978 5,485
1,655,854 1,794,341
----- End of picture text -----

The number of employees whose remuneration fell within the following bands is set out below:

----- Start of picture text -----
2024 2023
Salary Range £ £
£130,000 - £140,000 - 1
£80,000 - £90,000 1 -
£70,000 - £80,000 1 1
£60,000 - £70,000 2 3
----- End of picture text -----

There have been nine (2023: 5) positions that have formed part of the senior leadership team during 2024. The total remuneration including pension contributions for the team amounts to £767,999 (2023: £412,645), some members of the senior leadership team were contractors, costs related to contractors included irrecoverable VAT.

During the year there were two (2023: none) redundancy, termination or settlement payments made totalling £30,000(2023: £nil).

The average weekly number of contracted employees during the year was as follows:

----- Start of picture text -----
2024 2023
No. No.
Charitable Activities 2 4
Raising Funds 24 32
Support, Governance, Operations and Administration 16 5
42 41
----- End of picture text -----

Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

42

The Trustees received £80 reimbursement of expenses during the year (2023: £178 of travel expenses).

11. Results of Parent Charity

----- Start of picture text -----
2024 2023
£ £
Total income 17,191,182 15,160,662
Total expenditure (14,108,109) (12,060,422)
Unrealised gains / (Loses) 627,118 441,084
Net (expenditure) / Income 3,710,191 3,541,324
----- End of picture text -----

12. Property

The balance of £3.7m relates to a property addition in 2022 and related works in progress. No depreciation has been charged as it is an asset under construction.

----- Start of picture text -----
2024 2023
‘Raines Retreat’ Property ‘Raines Retreat’ Property
£ £
Cost at 1 [st] Jan 2,495,899 1,600,000
Additional works in progress 1,246,825 895,899
Depreciation - -
Cost at 31 [st] Dec 3,742,724 2,495,899
----- End of picture text -----

There is a further capital commitment at year end relating to the Retreat of £592,759.

13. Intangible Assets

The Intangible asset relates to production of the Kids Like Us documentary film made available on Sky in 2024, the development of a new charity website and software tools for improving fundraising.

----- Start of picture text -----
Kids Like Us New Website Software
Total
Documentary Development Development
£ £ £ £
Cost at 1 [st] Jan 1,500,584 - - 1,500,584
Additional works in progress 21,248 4,800 91,301 117,349
Amortization (138,348) - - (138,348)
Cost at 31 [st] Dec 1,383,484 4,800 91,301 1,479,585
----- End of picture text -----

There are further capital commitments at year end relating to the Website of £23,200 and the Software Development project of £33,215.

43

Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

14. Investments

----- Start of picture text -----
2024 2023
£ £
Listed investments (see below) 12,751,354 12,162,502
Cash deposits held as long-term investment - -
12,751,354 12,162,502
Market value of listed investments at 1 Jan 12,162,502 1,744,145
Additions to investment portfolio - 10,005,321
Investment manager fees (38,266) (28,048)
Net Investment gain/(loss) 627,118 441,084
Market value of listed investments at 31 Dec 12,751,354 12,162,502
Listed Investments comprise the following:
Multi class and other investments 12,751,354 12,162,502
Total listed investments at 31 Dec 12,751,354 12,162,502
----- End of picture text -----

----- Start of picture text -----
2024 2023
£ £
Total Investments are listed in:
United Kingdom 2,613,388 2,861,105
Overseas 10,137,966 9,301,397
12,751,354 12,162,502
----- End of picture text -----

Investment in subsidiary

Children with Cancer UK holds 100% of the share capital of Helping Children with Cancer Limited which is a registered company number 02807553. The value of the share capital owned is £100. Helping Children with Cancer Limited raises funds via commercial activities.

The income and expenditure for the year ended 31 December 2024 is as follows:

----- Start of picture text -----
2024 2023
£ £
Income 633,656 150,000
Administrative expenses (40,019) (40,952)
Profit before gift aid and taxation 593,637 109,048
The balance sheet for the subsidiary as at 31 December 2024 is as follows:
2024 2023
£ £
Assets 652,153 148,893
Liabilities (652,053) (148,793)
Reserves 100 100
----- End of picture text -----

The charity also holds 100% of the share capital of Children with Cancer Research Limited (09442350) which is currently dormant.

15. Debtors

----- Start of picture text -----
2024 2024 2023 2023
Group Charity Group Charity
£ £ £ £
Amounts due from subsidiary undertakings - 639,125 - 158,203
Other debtors 723,975 722,760 670,116 670,116
Accrued income 1,167,909 738,069 1,128,318 1,128,318
Prepayments 1,022,071 1,022,071 967,401 967,401
- -
Taxes and social security 258,826 261,422
3,172,781 3,383,447 2,765,835 2,924,038
----- End of picture text -----

44

Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

16. Grants to third parties

----- Start of picture text -----
2024 2023
£ £
Outstanding liabilities at the start of the year 12,997,055 12,583,848
Awarded during the year (note 23):
Research into prevention and causes 238,326 40,000
Research into treatment and survival 4,116,174 4,023,640
Welfare 125,000 500,000
Raising awareness 125,000 -
Total third party grants before adjustments 4,604,500 4,563,640
Under/over spends and adjustments on previous grant awards (302,494) (508,483)
Total third party grants 4,302,006 4,055,157
Paid during the year (4,182,115) (3,641,950)
Outstanding liabilities at the end of the year 13,116,946 12,997,055
Grants falling due within one year 4,554,027 6,590,941
Grants falling due after more than one year 8,562,919 6,406,114
13,116,946 12,997,055
----- End of picture text -----

17. Creditors: amounts falling due within one year

----- Start of picture text -----
2024 2024 2023 2023
Group Charity Group Charity
£ £ £ £
Accruals and deferred income 2,004,247 1,993,915 1,206,590 1,201,490
Amounts due to subsidiary - - - 16,904
Taxes and social security - - 3,380 986
2,004,247 1,993,915 1,209,970 1,219,380
Grants payable 4,554,027 4,554,027 6,590,941 6,590,941
6,558,274 6,547,942 7,800,911 7,810,321
----- End of picture text -----

18. Deferred income

Deferred income comprises income received in advance for entries to our weekly lottery.

----- Start of picture text -----
2024 2024 2023 2023
Group Charity Group Charity
£ £ £ £
Balance as at 1 January 31,208 31,208 53,701 53,701
Amount released to income (31,208) (31,208) (53,701) (53,701)
Amount deferred in year 36,636 36,636 31,208 31,208
Balance as at 31 December 36,636 36,636 31,208 31,208
----- End of picture text -----

45

Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

19. Analysis of net assets between funds

----- Start of picture text -----
2024 2024 2024 2023
Group Group Group Group
As at 31 December 2024 Restricted Unrestricted Total Unrestricted
funds funds funds funds
£ £ £ £
Fixed assets - 17,973,663 17,973,663 16,158,985
Net current assets 422,830 12,258,221 12,681,051 8,628,733
Creditors falling due after more than one -
year (8,562,919) (8,562,919) (6,406,114)
Net assets at the end of the year 422,830 21,668,965 22,091,795 18,381,604r
As at 31 December 2023 2023 2023 2023 2022
Group Group Group Group
Restricted Unrestricted Total Unrestricted
funds funds funds funds
£ £ £ £
Fixed assets - 16,158,985 16,158,985 11,600,000
Net current assets - 8,628,733 8,628,733 7,792,542
-
Creditors falling due after more than one (6,406,114) (6,406,114) (4,552,262)
year
Net assets at the end of the year - 18,381,604 18,381,604 14,840,280
----- End of picture text -----

20. Statement of funds

----- Start of picture text -----
Transfers &
Year ended 31 December Balance at Total Total Investment Balance at
2024 1 January Income Expenditure gains/losses 31 December
£ £ £ £ £
Restricted funds
a) Discretionary Trust of - - -
Bertha Everitt 300,000 (300,000)
b) Anonymous donation - 375,000 - - 375,000
c) The Medical Research - - -
Council 176,495 (176,495)
d) Ladbrokes - 47,830 - - 47,830
Other Restricted - 10,003 (10,003) - -
Total Restricted funds - 909,328 (486,498) - 422,830
Total Unrestricted funds 18,381,604 16,272,312 (13,612,069) 627,118 21,668,965
Total funds 18,381,604 17,181,640 (14,098,567) 627,118 22,091,795
Transfers &
Year ended 31 December Balance at Total Total Investment Balance at
2023 1 January Income Expenditure gains/losses 31 December
£ £ £ £ £
Restricted funds
e) Beads of Courage UK - 139,958 (139,958) - -
f) The Medical Research - - -
Council 134,480 (134,480)
Other Restricted - 1,000 (1,000) - -
Total Restricted funds - 275,438 (275,438) - -
Total Unrestricted funds 14,840,280 14,916,764 (11,816,524) 441,084 18,381,604
Total funds 14,840,280 15,192,202 (12,091,962) 441,084 18,381,604
----- End of picture text -----

46

Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

20. Statement of funds(continued)

The restricted funds comprise donations that were to be spent on specific causes and projects.

• a) Discretionary Trust of Bertha Everitt provided funding towards Raines Retreat.

• b) Anonymous donation towards Raines Retreat and the RHS Chelsea display.

• c) The Medical Research Council, government grant funding for individual projects, reinvested back into research budget.

• d) Ladbrokes, funding provided for causes in Ireland and Northern Ireland.

• e) Beads of Courage UK, which helps children in all 110 children’s cancer wards in the UK visualise and articulate their cancer journey.

• f) UK Government Covid Medical Research Charity Support Fund from The Medical Research Council funding

21. Related Party Transactions

There have been no other related party transactions during the year other than those with the trading subsidiary.

A management fee of £5,000 (2023: £5,000) has been charged to the trading subsidiary for use of the charity’s trademarks and a further £4,542 (2023: £4,412) for the use of charity staff (calculated on the basis of time charged to subsidiary activity by the employee). As of 31 December 2024, £639,125 (2023: £141,299) owed to the charity from the trading subsidiary.

22. Financial Instruments

The financial statements include the following in respect of items:

The financial statements include the following in respect of items:
	2024 £	2023 £
Financial assets measured at fair value	12,751,354	12,162,502
Total interest income for financial assets held at fair value	52,133	121,992

47

Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

23. Grants to third parties

----- Start of picture text -----
Research
into
Grants awarded to third parties Research
during the year and causes prevention into Raising
2024 treatment Welfare awareness Total
2024 2024 2024 2024
£
£ £ £ £
Solving Kids' Cancer UK 125,000 125,000 250,000
Bone Cancer Research Trust 125,000 125,000 250,000
Alice's Arc 250,000 250,000
Azaylia Foundation 250,000 250,000
International Agency for Research
175,662 175,662
on Cancer
Institute of Child Health – Prof Katie
116,696 116,696
Harron
Newcastle University – Prof Anthony
121,630 121,630
Moorman
University of Glasgow – Dr Karen
299,732 299,732
Keeshan
Newcastle University – Prof Julie
337,238 337,238
Irving
University of Nottingham - Dr
350,000 350,000
Timothy Ritzmann
University of Southampton - Dr Zoe
329,067 329,067
Walters
University of Sheffield – Prof Helen
147,570 147,570
Bryant
University of Birmingham – Dr
78,055 78,055
Maarten Hoogenkamp
University of Oxford – Prof Suzannah
319,952 319,952
Williams
University College London – Dr Paul
349,943 349,943
Maciocia
University of Cambridge – Dr 348,662
348,662
Manavendra Pathania
University College London - Prof
298,773 298,773
Kathy Pritchard- Jones
University of Leeds – Prof Susan
331,520 331,520
Burchill
Total grants to third parties 238,326 4,116,174 125,000 125,000 4,604,500
Grant closures and adjustments (302,494) (302,494)
Total grants to third parties 238,326 3,813,680 125,000 125,000 4,302,006
----- End of picture text -----

Note

There were 23 grant closures with a combined value of £250,054 that occurred during the year. There were 2 grant adjustments of £52,440 relating to corrections made to grants awarded in previous financial years.

48

Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales

Company limited by guarantee, Number: 4960054

23. Grants to third parties (continued)

----- Start of picture text -----
Research
into
prevention Research
Grants awarded to third parties during the year and into
causes treatment Welfare Total
2023 2023 2023 2023
£ £ £ £
Spread A Smile 500,000 500,000
Tessa Jowell Brain Cancer Mission 40,000 40,000 80,000
UCL Great Ormond Street Institute of Child Health –
23,716 23,716
Dr Srdan Rogosic
University College London – Prof Kathy Pritchard-
69,423 69,423
Jones
Newcastle University - Prof Steve Clifford 962,131 962,131
University College London – Dr Jon Clayden 131,899 131,899
University of Nottingham – Dr Elizabeth Coyle 349,210 349,210
Newcastle University Centre for Cancer – Dr Debbie
343,770 343,770
Hicks
Institute of Cancer Research – Prof Chris Jones 285,321 285,321
Imperial College London – Prof Cristina Lo Celso 326,789 326,789
UCL GOS ICH – Dr Marc Mansour 349,915 349,915
University of Oxford – Prof Adam Mead 350,000 350,000
University of Edinburgh – Prof Rod Mitchell 290,455 290,455
University College London – Dr Karin Straathof 231,742 231,742
UCL GOS ICH - Dr Owen Williams 269,269 269,269
Total grants to third parties awarded in the year 40,000 4,023,640 500,000 4,563,640
Grant closures and adjustments (545,983) 37,500 (508,483)
Total grants to third parties 40,000 3,477,657 537,500 4,055,157
----- End of picture text -----

24. Operating Leases Payable

The group and charity had the following future minimum lease payments under operating leases for the following periods:

following periods:
	2024 £	2023 £
Within oneyear	167,349	182,562
Between one and fiveyears	319,484	486,832
Total	486,833	669,394

49

Registered Charity Number: 298405 Inaugurated by Diana, Princess of Wales Company limited by guarantee, Number: 4960054

Every day 10 children and young people are diagnosed with cancer in the UK.

8 out of 10 young childhood cancer patients can be successfully treated thanks to vital, specialist research we helped fund.

Our vision is a world where every child and young person survives their cancer diagnosis.

We fund Research We fund Welfare We raise Awareness

Children with Cancer UK Registered Office 21-27 Lamb’s Conduit Street London WC1N 3NL