Annual report and accounts 2025/26

Read our annual report and accounts to see our progress over the past year.

Making breakthroughs that save lives

Our 2025/26 annual report and accounts documents some of the progress we’ve made against the objectives we set last year in our five focus areas: Discover, Translate, Engage, Partner and Sustain. 

Read our 2025/26 annual report and accounts

For a shorter read, our annual supporter update covers our most exciting stories from the past 12 months and the experiences of people whose lives have been changed by our breakthroughs.

Explore our annual supporter update

Hear from our chief executive

Our chief executive, Michelle Mitchell OBE, introduces our annual report and accounts 2025/26, highlighting pioneering research programmes, clinical trials to translate discoveries into new tests and treatments, and historic policy change that will save and improve people’s lives.

Our research spend

We spent £416m on new and ongoing research.

This includes money we committed to in previous years but paid out this year, as well as money paid out to new projects we committed to this year. 

Here’s a breakdown of our research spend:

£185m: Research projects focused on specific cancer types

For a breakdown by cancer type, see page 9 of our annual report and accounts. In 2025/26, we spent over £31.5m on research specific to cancers that affect 0 to 24-year-olds, making us the biggest charitable funder of research into children’s and young people’s cancers in the UK.

£88m: Basic research

Understanding the fundamental biology of cancer.  

£87m: Relevant to all types of cancer

This includes research infrastructure and studies looking at cancer survivorship.  

£24m: Research admin and support costs

This includes peer review, grant management, IT and other support costs.  

£18m: Cancer Research Horizons translational activity

Efforts to advance, develop and commercialise cancer research.

£8m: Revenue shares

This is a share of royalties from sales of innovations developed from our research, which we pass on to others involved in it.   

£6m: Cancer Research Horizons CancerTools

A biorepository of tools for the global research community, such as antibodies and cell lines. 

As the world’s largest non-commercial, non-governmental funder of cancer research, we are acutely aware of both the scientific opportunities and the human need for further and faster progress.

- Lord Simon Stevens, Chair

Our expenditure

In 2025/26, we spent £755m (2024/25: £715m)

A graphic displaying the information in this section regarding the breakdown of the £715 million spend.

How we spent our money

We committed £441m to cancer research, infrastructure and providing grants for investigator-led programmes, projects and training fellowships. Some of the £441m we committed to cancer research this year will be paid out to projects in future years. We spent £416m on cancer research this year, which includes money we committed in previous years.
We committed £141m to trading activities, initiating a programme to increase the long-term financial contribution of these activities over the next five years.
We committed £140m to generating funds, which includes investment in marketing, new fundraising initiatives and our digital and data transformation programme.
We committed £33m to cancer information and influencing activity to shape and inform government policy changes and provide people with trusted, accurate information about cancer.

Our income

In 2025/26, we raised £696m (2024/25: £735m)  

An graphic outlining Cancer Research UK's income for 2024/25 and how the £735 million was spent.

Where our income came from

We raised £483m from regular gifts, philanthropic gifts, gifts in Wills, corporate partnerships, events, giving platforms and social media challenges.
We raised £140m through our trading activities.
We raised £65m through licensing the intellectual property from our discoveries.
We received £8m from investments and other income.

Pence in the pound

For every £1 donated, 75p was available to beat cancer.

We don’t include the net income from our trading activities in this calculation, so the measure is comparable to other charities that don't have shops.

You can read more on page 11 of our annual report and accounts.

Read our 2025/26 annual report and accounts

Our chief executive and staff salaries

We know it’s important for you to understand how we spend your donations. We’re transparent in all areas of our work.

Our chief executive, Michelle Mitchell OBE, was paid £289,800 total remuneration between 1 April 2025 and 31 March 2026. 

As the world’s leading cancer charity, we need to attract and retain high-performing people. The salaries we pay reflect individual responsibilities and performance, while ensuring the best use of your donations. 

For more information about staff pay, see pages 56 and 90–92 of our annual report and accounts. 