Company number: 10532662 Charity Number: 1173108 ## The Tim Bacon Foundation Report and financial statements For the year ended 31 March 2025 The Tim Bacon Foundation ## for the year ended 31 March 2025 **Company number** 10532662 **Charity number** 1173108 **Registered office and operational address** 98 King Street Knutsford Cheshire WA 16 6HQ **Trustees** Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows: Jeremy Roberts Chair Alec Gutherie (resigned 8/07/2025) Chris Hill (resigned 6/09/2024) David Mansbridge Michelle Gandy Peter Martin Thom Hetherington Louise Kemp (appointed 4/04/2025) Lucy Noone-Blake Julian Ross (appointed 1/06/2025) **Key management** Alec Gutherie **personnel** Michelle Gandy David Mansbridge Jeremy Roberts **Bankers** Santander Bootle Merseyside L30 4GB **Solicitors** Pinsent Masons 55 Colmore Row Birmingham B3 2FG **Independent** Jennifer Daniel FCCA DChA **examiner** Slade & Cooper Limited Beehive Mill, Jersey Street, Manchester, M4 6JG 1 ## Tim Bacon Foundation ## Trustees’ annual report ## for the year ended 31 March 2025 The trustees present their report and the unaudited financial statements for the year ended 31 March 2025. Included within the trustees’ report is the directors’ report as required by company law. Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102. ## **Objectives and activities** The primary objective of The Tim Bacon Foundation is to provide grants and/or financial contributions to charitable organisations that are committed to alleviating sickness and promoting the preservation and protection of the health of individuals suffering from cancer. Such grants and/or payments shall be applied in strict accordance with the charitable purposes of the recipient organisation and for the advancement of public benefit. The Foundation shall undertake regular reviews of the charitable organisations it currently supports, as well as those it may support in the future, to ensure that they continue to serve as appropriate vehicles for furthering the charitable objectives of the Foundation, while consistently meeting the requirement to promote public benefit. During the period ending 31 March 2025, the Foundation's primary objectives were centred around executing a series of fundraising events throughout the calendar year, while simultaneously fostering deeper engagement with the hospitality sector to enhance the Foundation's visibility and impact within the industry. These strategic initiatives were designed not only to generate crucial financial support for the Foundation's charitable causes but also to build stronger partnerships within the hospitality industry, thereby increasing awareness of the Foundation’s work and expanding its reach to a broader audience. The Trustees undertake a comprehensive review of the charity’s aims, objectives, and activities on an annual basis. This report provides an assessment of the charity’s achievements and evaluates the outcomes of its work during the reporting period. The Trustees assess the success of each key activity and measure the tangible benefits the charity has delivered to the specific groups it was established to support. This review process also ensures that the charity’s aims, objectives, and activities remain aligned with its core charitable purposes and continue to serve the public benefit effectively. In conducting this review, the Trustees have referred to the guidance provided in the Charity Commission’s general public benefit guidance. This guidance has informed both the review of the charity’s aims and objectives and the planning of its future activities. Specifically, the Trustees have carefully considered how the charity’s planned activities will contribute to the advancement of its stated aims and objectives, ensuring that all future initiatives will remain consistent with the charity's overarching charitable mission and legal obligations. ## **Achievements and performance** Throughout the period ending 31 March 2025, a series of fundraising initiatives were conducted across the hospitality sector, generating significant contributions in support of charitable organisations. One such initiative, Hospitality Helps, brought together the industry to aid with raising vital funds towards the final £600,000 required to complete the funding for the National Breast Imaging Academy in Manchester, in support of Prevent Breast Cancer. The successful initiative brought together multiple restaurants and their staff across the UK take part in one collective effort of fundraising for the project. FY25 also saw the continuation of an invaluable corporate partnership with Gusto Restaurants and Young Lives Vs Cancer, raising £25,000 to support children and their families. This ongoing partnership 2 ## Tim Bacon Foundation ## Trustees’ annual report ## for the year ended 31 March 2025 demonstrates a commitment to supporting key charitable organisations and making a tangible impact on the communities they serve. ## **Financial review** Fundraising activities for the year ending March 2025 largely returned to levels comparable to those observed in previous years, with the exception of the Dream the Impossible event. The Foundation successfully organised and or attended a range of localised and smaller-scale events, including industry conferences, awards ceremonies, Hospitality Kicks, and several fundraising races. These initiatives were designed to minimise operational costs, thereby maximising the net donation generated from each event. As a result, the Foundation was able to fully leverage its fundraising capabilities and achieve a high level of financial support for its charitable activities. Throughout the reporting period, The Tim Bacon Foundation has maintained a robust cash position, ensuring financial stability and sustainability. This strong financial position was upheld at the close of the financial year, providing a solid foundation for the Foundation’s ongoing operations and future initiatives. ## **Reserves policy** The trustees aim to maintain designated reserves within unrestricted funds at £30,000. The trustees consider that this level will provide sufficient funds to assist in generating fundraising events and cover any ongoing operational costs. ## **Plans for the future** The Tim Bacon Foundation remains steadfast in its commitment to supporting cancer charities, leveraging the support of the hospitality industry to further its charitable objectives. This commitment will see the return of the “Dream the Impossible” event in Manchester in September 2025 with the aim to raise in excess of £200,000 by bringing together eleven restaurants and eight charities alongside corporate sponsors to raise awareness and funds to support those living with cancer. 3 ## Tim Bacon Foundation ## Trustees’ annual report ## for the year ended 31 March 2025 ## **Structure, governance and management** The Tim Bacon Foundation is a company limited by guarantee, incorporated on 19 December 2016 and registered as a charity on 18 May 2017. The company is established under a Memorandum of Association and is governed by its Articles of Association which set out the objects and powers of the charitable company. The company is managed by the trustees and directors who constitute its management committee. All trustees and directors are unpaid. New trustees are appointed by the existing trustees. The organisation is a charitable company limited by guarantee, incorporated on 19[th] December 2016 and registered as a charity on 18[th] of May 2017. The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association. Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity. All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 10 to the accounts. ## **Risk management** The trustees have conducted a review of the major risks to which the charity is exposed and systems have been established to mitigate those risks. 4 ## Tim Bacon Foundation ## Trustees’ annual report ## for the year ended 31 March 2025 ## **Statement of responsibilities of the trustees** The trustees (who are also directors of Tim Bacon Foundation for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: - Select suitable accounting policies and then apply them consistently - Observe the methods and principles in the Charities SORP - Make judgements and estimates that are reasonable and prudent - State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report was approved by the Board on 08/12/2025 and signed on its behalf by David Mansbridge Director Jeremy Roberts Director 5 ## Independent examiner’s report ## to the trustees of ## Tim Bacon Foundation I report to the charity trustees on my examination of the accounts of the company for the year ended 31[st] March 2025 which are set out on pages 7 to 15. ## **Responsibilities and basis of report** As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Jennifer Daniel FCCA DChA Slade & Cooper Limited Beehive Mill, Jersey Street Manchester, M4 6JG Date: 10/12/2025 6 The Tim Bacon Foundation Statement of Financial Activities (including Income and Expenditure account) for the year ended 31 March 2025 Unrestricted funds Restricted funds Total funds 2025 Total funds 2024 Note Income from: Donations and legacies 118,254 118,254 48,719 Total income 118,254 118,254 Expenditure on: Raising funds 3,221 3,221 3,636 Charitable activities 83,972 83,972 50,318 Total expenditure 87,193 87,193 53,954 Net income/(expenditure) for the year 31,061 31,061 (5,235) Transfer between funds Net movement in funds for the year 31,061 31,061 (5,235) Reconciliation of funds Total funds brought forward 134,186 134,186 139,421 Total funds carried forward 165,247 165,247 134,186 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The Tim Bacon Foundation Company number 10532662 Balance sheet as at 31 March 2025 Note 2025 2024 Current assets Debtors Cash at bank and in hand li 7,708 167,553 480 145,050 12 Total current assets 175,261 145,530 Liabilities Creditors: amounts falling due in less than one year 13 (10,014) (11,344) Net current assets 165,247 134,186 Net assets 165,247 134,186 The funds of the charity: Restricted income funds Unrestricted income funds 14 165,247 134,186 Total charity funds 165,247 134,186 For the year in question, the company was entitled to exemption from an audit under section 477 of the ComDanies Act 2006 relatina to small comDanies. Di rectors, responsi bi l ities: The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006, The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts are prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies and in accordance with FRS102 SORP, and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company. Approved by the trustees on 08/12/2025 and signed on their behalf by: David Mansbridge (Trustee) Jeremy Roberts (Trustee) The Tim Bacon Foundation Notes to the accounts for the year ended 31 March 2025 Accounting policies The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows: Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), second edition October 2019 (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006 and UK Generallv Acceoted Accountina Practice. The charity has applied the exemption available to small charities in the Charities SORP (FRS 102) and does not include a Statement of Cash Flows in these Financial Statements. The Tim Bacon Foundation meets the definition of a public benefit entity under FRSIO2. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note. Preparation of the accounts on a going concern basis The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. The trtustees have made no key judgments which have a significant effect on the accounts. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period. Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material. Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met. The Tim Bacon Foundation Notes to the accounts for the year ended 31 March 2025 (continued) Donated services and facilities Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised. refer to the trustees, annual report for more information about their contribution. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank. Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity. Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activitv headinas: Costs of raising funds comprise the costs of events, sales and marketing and their associated support costs. Expenditure on charitable activities includes the grants making costs undertaken to further the purposes of the charity and their associated support costs. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. 10 The Tim Bacon Foundation Notes to the accounts for the year ended 31 March 2025 (continued) Operating leases Operating leases are leases in which the title to the assets, and the risks and rewards of ownership, remain with the lessor. Rental charges are charged on a straight line basis over the term of the lease. Fixed asset investments Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. The Charity does not acquire put options, derivatives or other complex financial instruments. The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors. Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade rli%rniintrE diip. Legal status of the charity The charity is a company limited by guarantee registered in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The registered office address is disclosed on page l. 11 The Tim Bacon Foundation Notes to the accounts for the year ended 31 March 2025 (continued) Income f rom donations and legacies Current reporting period Unrestricted Restricted Total 2025 Donations and legacies 118,254 118,254 Total 118,254 118,254 Previous reporting period Unrestricted Restricted Total 2024 Donations and legacies 48,719 48,719 Total 48,719 48,719 Cost of raising funds 2025 2024 Events costs Sales and marketing costs Other fundraising costs 256 2,965 1,528 2,108 3,221 3,636 All expenditure on cost of raising funds is unrestricted. 12 The Tim Bacon Foundation Notes to the accounts for the year ended 31 March 2025 (continued) Analysis of expenditure on charitable activities 2025 2024 Grants made Prevent Breast Cancer Young Lives vs Cancer Bolton Hospice Breast Cancer UK Governance costs (see note 6) other costs Administration and support costs Insurance Bank fees Travel & Accommodation Professional Fees 30,123 25,229 19,722 1,000 3,170 1,824 1,824 547 1,236 290 1,954 22,769 1,012 1,056 26 2, 024 20,484 83,972 50,318 Analysis of governance costs Current reporting period 2025 2024 Independent examination 1,824 1,824 1,824 1,824 Net income/(expenditure) for the year This is stated after charging/(crediting): 2025 2024 Independent examiner's fee 1,824 1,824 staff costs There were no employees during the year (2024: None) 13 The Tim Bacon Foundation Notes to the accounts for the year ended 31 March 2025 (continued) Trustee remuneration and expenses, and related party transactions Neither the management committee nor any persons connected with them received any remuneration or reimbursed expenses during the year (2024.. Nil). No members of the management committee received travel and subsistence expenses during the year. (2024: Nil). No donations from related parties. (2024: Nil). No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year (2024: Nil). 10 Corporation tax The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity. 11 Debtors 2025 2024 Donations receivable Prepayments and accrued income 7,150 558 480 7,708 480 12 Cash at bank and in hand 2025 2024 Cash at bank and on hand 167,553 145,050 167,553 145,050 13 Creditors: amounts falling due within one year 2025 2024 Trade creditors other creditors and accruals 1,837 8,177 11,344 10,014 11,344 14 The Tim Bacon Foundation Notes to the accounts for the year ended 31 March 2025 (continued) 14 Analysis of movement in unrestricted funds Current reporting period Balance at l April 2024 Asat31 March 2025 Income Expenditure Tra nsfers General fund 134,186 118,254 (87,193) 165,247 134,186 118,254 (87,193) 165,247 Previous reporting period aiance at l April 2023 AsarJi March 2024 Expenditur Income Transfers General fund 139,421 48,719 (53, 954) 134,186 139,421 48,719 (53, 954) 134,186 15 Analysis of net assets between funds Current reporting period General fund Designated funds Restricted funds Total Net current assets/(liabilities) 165,247 165,247 Total 2024 165,247 165,247 Previous reporting period General fund Designated funds Restricted funds Total Net current assets/(liabilities) 134,186 134,186 Total 2023 134,186 134,186 15