Children with Cancer UK transferred over £3m to fellow charity Beads of Courage UK last year as the organisations formed a five-year partnership.
Recently published accounts for the 2022 calendar year show that Children with Cancer UK’s expenditure increased by 40% to £13.9m overall, while its income declined by 7% to £14.1m.
Most of the increase in outgoings was due to the charity’s £3.04m grant to Beads of Courage UK, which had recorded an income of £252,000 in the year to January 2022.
Income dip
Children with Cancer UK’s income dropped from £15.2m in 2021 to £14.1m in 2022.
The charity gets the vast majority of its income from donations and legacies, which fell by 11% to £13.4m in 2022.
It said in the report that the decrease in fundraising income was due to its “decision to remove less strategically impactful appeals” and a “tough fundraising environment”.
Meanwhile, the charity’s trading income increased from £6,850 in 2021 to £582,000 in 2022.
Costs rise
Children with Cancer UK’s expenditure increased by £4m year-on-year to £13.9m in 2022, driven by its grant to Beads of Courage UK.
Overall, its grants to third parties more than tripled to £6.97m, while its fundraising costs rose to £2.12m.
Meanwhile, the charity’s staff costs declined by £100,000 to £1.62m in 2022.
The charity’s unrestricted funds at 31 December 2022 were £14.8m, the same as the year before.
In its accounts, the charity said it plans to make its first ever investment in a capital project – Birmingham Cancer Research Institute, in collaboration with Birmingham University.
It also plans to develop its first ever holiday retreat in Yorkshire for the latter half of 2024.
Children with Cancer UK announced its five-year partnership with Beads of Courage UK earlier this year.
The charities have been working together since 2019 on Beads of Courage UK’s oncology programme, which aims to offer support and strength to all children diagnosed with cancer while they receive treatment.
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