Alzheimer’s Research UK brought in a record £57m last year, latest figures show. 

The charity’s annual accounts for the year ending March 2024 show that its income reached £56.9m last year, an 8 per cent rise on the year before.

The charity’s income has been rising rapidly in recent years, having increased fourfold from the £14.2m recorded in 2013/14 and reporting record figures each year since 2022. 

ARUK’s 2023/24 accounts show that 95 per cent of its total income came from donations and legacies, amounting to £53.9m. This included £12.4m from gifts in wills, the accounts say.

During the year, more than 80,000 people supported the charity through monthly donations, with more than 24,000 of those being new donors, according to the accounts.

Of its total income, £1.4m came from charitable activities, just £258,467 came from other trading and income-generation activities and £1.3m came from investments.

The charity’s expenditure also reached record levels this year, amounting to a total spend of £49.7m – up from £42.6m the year before.

The majority of this was funds spent on charitable activities, which cost £34.6m. Of this, £27.3m was invested in dementia research and £7.3m was spent on information and advocacy work.

The charity also spent £15.1m on fundraising costs, which was up from £13.8m the year before.

The accounts show that the charity had a total of 244 staff during the year, up from 228 in the previous year. Of these, 77 were related to its charitable activities, 128 worked in fundraising and 39 in support services.

In the accounts, Hilary Evans Newton, chief executive of ARUK, said: “Thanks to your generosity, our fundraising efforts have exceeded our expectations. This year we achieved a phenomenal £57m income – our highest ever. I want to say a huge thank you to everyone who has played a part in making this possible.

“Looking ahead, we approach the next year with determination and we’re confident Alzheimer’s Research UK will continue to grow with meaningful impact.”