Alzheimer’s Research UK experienced a 29 per cent increase in income in the year to March 2014, from £11m to £14.2m, according to its newly-published annual report and accounts.

The funding boost is the charity’s highest ever income.

This is the first year in a plan to raise £100m in five years as part of the Defeat Dementia Campaign.

The campaign was launched at the 2014 G8 summit and backed by prime minister David Cameron as part of the “largest ever UK charity commitment to dementia research”, according to the charity’s annual review, released yesterday.

Alzheimer’s Research UK said it invested significantly in its fundraising efforts over the year. In 2014 it spent £3.5m – up from £2.6m the previous year.

According to the charity’s 2014 annual report, “in 2013-14 Alzheimer’s Research UK had its strongest fundraising year to date, which has been made possible by strategic investment across our fundraising functions".

The charity was set up in 1992 with the aim of funding research to prevent, treat and cure dementia. It funds pilot projects through to major strategic initiatives and is currently investing over £23m across 127 ongoing research projects across the UK.

Ian Wilson, director of fundraising at Alzheimer’s Research UK said: “We’re thrilled to announce our 2014 income figures. We have made significant progress in the past year, but this is only the start and we will build on this success in the coming months and years as we lead big advancements in global dementia research."