Cancer charity publishes crunch-busting accounts

Cancer Research UK has cemented its reputation as Britain's biggest fundraising charity by raising £420m in 2007/08, according to its annual accounts and review, published today.

Total income was £477m, which includes investment income, licence fees and royalties from technology investment, and fundraising.

Last year, total income at the Cancer Research UK was £468m, of which fundraising accounted for £411m.

Total expenditure was down from £553m last year to £476m. The amount spent on medical research increased from £315m to £333m.

"Given the economic downturn in the second half of the year, our financial performance was exceptional," the review says. "Looking ahead, however, we know how challenging it will be to keep raising the funds we need as our supporters face continuing economic pressure."

The most profitable form of fundraising was legacies (£148m), followed by donations and payroll giving (£94m).

The Race for Life generated £60m – only £4m less than the organisation made from its 560 shops. The new Relay for Life event raised £1.5m.

According to Charity Market Monitor 2008, Oxfam is Britain's second largest fundraising charity. It received £203m in the year ending April 2007.

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