THE BACON CHARITABLE TRUST
ACCOUNTS
FOR THE YEAR ENDED 5 APRIL 2024
Oiegistered ChArity 298633)

THE BACON CHARITABLE TRUST
CONTENTS
Page
Report of the Trustees
Independent examiners, report
Bajallce sheet
Statement of fmancial activities
Notes to the accounts
8-11
S¢hedule of Investmellts
12

THE BACON CHARrrABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024
LEGAL AND ADMINtSTIL4TIVE INFORMATION
Trustees
SirNicholas Bacon, Bt
Lady Bacon
H 11 Ba¢<)n
Prlncipal Office
The Estate Office
Raveningkn
Norwi¢h
Norfolk
NR14 6NS
IDdependent Ex￿Iller
Andr¢w Gan)mon
AG Tax Limitcd
3rd Floor
28 Austiti Friars
LotLdon
EC2N 2QQ

THE BACON CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED S APRIL 2024
The Ba¢on Clwitable Settlement was created und¢r a Deed of Settlement dated 16 December 1987
b¢twe¢n Pris¢illa, Lady Bacon ("the Settlor") and the Settlor, Sir NickLolas Bacon and William Drake (the
'TnJstees"). and is a registered cllarity) number 298633. The initial Tryst capital was gifted by the Settlor.
Objects
Under the tern)s of the Clwitable Settlement:
The Trustees shall hold the capital and income of the TTh￿t Fund upon trust to apply the
income and all or such part or parts of the capital for or towards such charitable (according
lo the law of England and Wales) pU￿0￿S and to make donations lo such charitable
institutions at such time or times and in such manner as the Trustees may. in their absolule
discretion. think fit.
Th¢ Trustees ]nay at their absolute discretion for the period of 21 years from 22 April 1987.
instead of applying the income of tkne charity in any year, accumulate all or any part of such
income at Compound intcrcst by investing the same and tb¢ resulting ill￿￿¢ any of thc
invcslmcnts authorised in tILe Trnst Deed.
lll)
Money to be invested under the Trnst Deed may be applied or invesied in the Purchase of
or at interest upon the secuTÈty of such shares, stocks, funds, s¢curitie& land, buildings,
chattels or other inve5tmctLts or property of any nature and in any part of the world and
wh¢th¢r involving liabilitl¢S OT producing income or not as the Trust¢¢s S]￿11 in thetr absolute
discretion thiJ)k fit.
Eledion of Trustees
The power of appoinling new Trustees is vested in the existing Trustees.
Organis¥tional struethre
The charity is run by the Trustees, with all decisions being takcll by a majority of Trustees presellt at any
duly conSti￿ted nLeettng. Thc Trustees who s¢rvcd during the year are s¢1 out below:_
Sir Nicholas Bac0￿ Bt
Lady Bacon
H H Bacon
Progress and 4¢hievements
During the year to 5 April 2024. the Trnstees b&ve n)ade donations to sixteen ¢b4ritable institutions
totallin8 £70,542.
Page I

THE BACON CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024 (eontitiued)
lllve8tment policy
The Capital of the TnL8t continues to be invested in listed investments and in a freehold property which is
open as an educational centre.
Reserves policy
It is th¢ policy of th¢ Trustees to materially distribute surplus income in aCCOTdance with the charitable
objects of the Trust. The TTUStees seek to n￿intaill capital reserves ac a level sufficient to derive an
al￿￿aL income to enable a contltiuing levcl of support to be provided to a wide rattge of cFLaritabl¢ ¢aus¢s.
The Tnistees consider that the ¢xisting assets of the Trust are sufficient to me¢t the projected
charitable obj￿tIVes.
Major ri%k8
The Trust¢¢s have undertakcll an assessment of th¢ major risks which may potentially impact upon the
Charitable Trust. Thcy have conclud¢d that tbese relate largcly to the freehold pro￿rtY and investment
portfolio which represeni Ihe Trust's capital assets. The Trustees employ professional advisers to manage
Ihe investmellt portfolio. in order lo mitigatc the risks and to miniJws¢ their fmallcial impact. Similarly.
the Trustees have adequatc systems iti placc to monitor and wntrol such risks as n￿Y impact ll￿)ll th¢
freehold property.
Trustees, respollsibilites
Under the Trust Deed, the Trustees have the rcsponsibility to manage all matters concernillg th¢ affairs of
the Trust.
Under CIMrities legislation, the Trnstees are required to prepare fmancial statements for fllwkcial
period which give a trne and fair view of the state of affaits of the Trust and of the SU￿luS or deficit of
income over expenditLWe.
In preparing these financial stalements, the Trnstees should:_
select suitable accounting policies and apply them consistently,.
observe thc llLetho(Ls and principles in the C]wities SORP.
make judgements and estimates that arc rcasonable and prudent"
state whether applicable UK accounting standards have been followed, subject to any
matcrial departures disclosed and ex
lained in the fmancial statcments"
Page 2

THE BACON CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024 (continued)
Tru$tees' responslbilites (continued)
prep￿e the finallcial statements on a going concern basis unless it is inappropriate to assume
the Trust will continue in its activities.
The Trustccs arc Tcsponsiblc for keq)ing proper accounting records which disclose with reasonable
accuracy at ally time thc f￿anCIal position of tELe Trnst and ¢nabl¢ it to comply witb the Statement
of Recommellded Pra¢ti¢e.' Accounting and Reporting by Charities preparing their accounts in
accordance with the Financial RerK)rting Standard Applicable in the UK and Republic of Ireland
(FRS 102) issued on 16 July 2014 and with The Charities Act 2011. Thcy have a generdl responsibility
for tsking such steps as are reasonably opcn to them to safeguard the assets of the Trust alld to prcvent
and det￿t fraud and other itTegulaTities.
Sir Nicbolas Bacon, Bt
On behalf of the Trnstees
27 January 2025
Page 3

THE BACON CHARITABLE TRUST
INDEPENDENT EXAMIIYER'S REPORT TO THE TRUSTEES
l Teport on the accounts for the year ended 5 April 2024 set out on pages 4 to 15.
R¢spedive responsibilities of trustee5 and examiner
As th¢ charIt￿S t￿￿t¢c8 you are re5FK)nsible for the prcparntioll of thc accounls? you consider that the
audit requirement of Section 144(2) of the Charities Act 2011 {the Charities Act) does not apply for
this y¢ar and that an independent examination is needed.
It is my r¢sponsibilty to examine the accounts (undeT Section 145 of the Charilies Art). to follow the
procedures laid down in the General DIr￿tionS given by the Charity Commissioners (under s￿tIon
145(5)(b) of the Charities Act), and to state whether particular matters have come to my attention.
Basis ofIndependent ¢x4mlner's report
My examination was carried out in accordance with the General Directions given by the Charity
Colljmissioners. An examination includes a review of the accounting records kept by Ihe Charity and a
comparison of the accounts preselltcd with thos¢ records. It also includes consideration of any unusual
itcms or disclosurcs th¢ a¢counts and setknng explatkations from you as trustees concerning any such
altcrs. The proccdures uud¢rtak¢n do not pruvide all the evidence that would be Tequired in an audit,
and cons¢quently no opinion is givcn as to whether the accounts present a 'tNe and fair, view
and the report is limited to those matters set out in the stalcmcnt bclow.
IDdependenl exAmlner's ststement
In connection with my Cxaminatio￿ no matter has come to my attention which gives me ca￿se
to believe that in, any material tESP¢¢t:
thc accounting rwoTds were not kept in accordance with section 130
of the Charities Acl. or
the accounts did not accord with the accounting rewrds. or
the account$ did not comply with th¢ applicable rcquircments ¢onc¢rning the fonn and
content of accounts set out in the Charities (Accounts and Reports) Regulations 2(X)8
other than any r¢quiremellÈ that the accounts give a 't￿e arLd fair. view which is not
a matter considered as part of an independent cxatnination.
Page 4

THE BACON CHAIIITABLE TRUST
INDEPEIYDENT EXAMINER'S REPORT TO THE TRUSTEES (¢ootknu¢d)
I have come across no other matters Én CA)nnection with the vAamination to which attention should be
drawn in tha5 r¢port in order to enable a proper un&rstsnding of the acwunts to be rea¢hed.
27 Jatiw 2025
3rd Floor
28 Austin Friars
London
EC2N 2QQ
G*mtnoD
Page 5

THE BACON CHARITABLE TRUST
BALANCE SHEET
AS AT 5 APRIL 2024
2024
2023
Plotes
Tangible Fixed Assets
133,334
133.334
Investments (Page 12)
386,881
405,986
520,215
539,320
Current %5set5
Other (kbtors
15,809
23,414
102,778
15.877
75,343
5.038
Income tax repayable
Cash at bank
142,001
96.258
Current ]iabilitie$
ereditors
961
3,843
Net current assets
141,040
92,415
Total assets less current liabiliti¢s
661.255
631,735
Unrestricted funds:
Expendable eudowment fuDd (Page 7)
661,255
631,735
Unrestrieted ineome fund (Page 7)
661,255
631.735
The fjnancial statements were approvcd by the Trustecs on 11 tWfyLY
and signed on their behalf by
Sir Nicholas Bacon. Bt
Pagc 6

THE BACON CHARITABLE TRUST
STATEMENT OF FINANCLIL ACTIVITIES
FOR THE YEAR ENDED S APRIL 2024
2024
2023
UDregtrleted
Expendable
elldowment
Totsl
Totsl
income fund
fund
Notes
In¢orning r¢sour¢es
Incoming resources from generated funds
Voluntary income
- Donations
3,601
117.068
120.669
17.245
Inv¢stm¢nl iticome
- Bank Tn¢ome (gross)
835
835
84
Total Incomlng resources
4,436
117,068
121,504
17,329
Resourtes expended
Direct charitable expenditure
- Donaiions made
70.542
430
70,542
430
50,583
793
- Property repairs
- Sundrytxpenses
1,427
1,427
2,880
72.399
72,399
54,256
Cost of ¥eneratitLg funds
- Inv¢stsnent managcment fees
Governance costs
- Independent ¢xaminer8' fees
- Legal fees
480
480
1,320
480
480
1,320
To¢*1 resources expended
72,879
72,R79
55,576
Net incomingl(outgoing) r¢sour¢es
Transfer to inwn¢ a￿OUnt
(68,443)
68,443
117,068
(68,443)
48,625
(38247)
Realised foreign ex¢hangc gainsl(losses)
Gain￿(loSSeS) on investment ass¢ts'.
Realised
Unrealised
(19.105)
(19,105)
31,579
Net movement In fund&
29,520
631,735
29,520
631,735
(6,668)
638.403
Fund balance8 brougbt fonvard
Fund balances Ca￿led fonvard
661,255
661,255
631,735
The statement of fmancial activities has been prepared on the basis that all operations ar¢
continuin i O
erations
Page 7

THE BACON CHARITABLE TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 5 APRIL 2024
Basls of preparation
Bfdsfis of accounthig
The accounts have been prepared in accordance with the Statement of Recommended Praclice:
Accounting and Reporting by Charities preparing their accounts in a¢wrdan¢c with the Financial
Reporting Standard applicable in the UK and Republic of Irelalld (FRS 102) issued on 16 July
2014 and with the ChaTities Act 2011. The CI￿ltY constitstes 3 public benefit entity as defined
by FRS 102. The accounts have b¢¢n prwed under the histori￿1 cost convention. as
modified by the revaluation of investments at ll￿rket value.
12
Re¢on¢iliation Ivlth preidous Generally Accepted Aecountillg PrYdctic¢
In preparing the accounts, the trustees havc considered whether in applying Ihe accowiting
policies required by FRS 102 and tbe Charities SORP FRS 102 the restatcmcnt of
omparative items was required. No restatements We￿ required.
ij
Going concern
The trnst reported a net cash inflow of £48.625 during th¢ year alld thc tNstees are of the view
tbat the c]]arity is a going conce
Incoming resources
Income is recognised when the charity has entitlement to the funds, any perforn￿]ce ¢onditioDs
attached to the item(s) of incoll￿ have been nJet, it is probable that the income witl be re¢¢ived
and the amount call bc measured reliably.
Expendlture
Expenditur¢ is rccognised once th¢￿ is a legal or constluctive obligation to ll￿k¢ a payment
to a third party, it is probable that settlement will be required and the amount of the obligation
call be measured reliably.
Support costs
CIwttable activities represents amounts expended for the specific pury)oscs desigThat¢d by the
Trustees, as directed by the objects of the Trust.
There are no non specific supwyrt costs. All Costs are allocated to ihe activity to which they
relat¢. Governance Costs relate to costs incurred in the generdl n]J)ning of thc charity.
Page 8

THE BACON CHARITABLE TRUST
NOTES TO THE ACCOUNTS (conlinu¢d)
FOR THE YEAR ENDED 5 APIUL 2024
Tangible Fixed Assets
Freehold property is capitalised and valued at cost. The trnslees ￿lIeve th￿e is no change
of markel value of tbe property, hence no impairnlent is required during the year.
Investment5
Fixed asset investnwits ill quoted slwe& traded bonds. and similar investments are valued
initially at cost and subsequently at fair value (their market value) at the year en
Funds
The unrestricted income fund is available for use at the discretion of the Trustees in fvrtherance
of the obj￿￿ve$ of the Trust and which havc not been deSIg￿ated for other pU￿￿SeS.
The expendable endowment fiLnd may be utilised at the discretion of the T￿￿leeS lo any
deficit in annual ino)me, but is not rcgarded as being generally available to spend on any or ati
of the Trt￿t'S pUn￿SeS.
'rangible r￿ed assets
Freehold
property
Cost
At 6 April 2023
Additions in the year
133.334
At 5 April 2024
133.334
Net book value
At 5 April 2024
133.334
At 5 April 2023
133,334
Page 9

THE BACON CHARITABLE TRUST
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 5 APIUL 2024
l)onations mad¢
2024
2023
Priscilla Bacon Hospice
RHS Fellows
40,000
5,000
6,811
1,000
1.509
1.000
1.200
500
12,5(M)
4,280
6.004
The Country Trust
Cancer & Pisces Tnjst
Connexions Community Hub
Earl of Bessborougb (Fiddown Church Restoration Group)
East Allglia Art Fund {EAAF Patrons)
Excelsior Trnst
H Roebuck- Community Enterprise
Hales & Loddoll CC
200
5(M)
Jack Topping - Community Ent¢Tprise
Lincs & Notls Air Ambulance
500
2,072
1,000
7,500
750
Norfolk BeekeepeTS Association
R Ward - Community Enterprise
Theatre Royal (Nonvich)"frust Ltd
Thornage Hall Independent Living
The Rivers Trust
4.000
250
Laura Holmes- Commwiity Entcrprise
Oscar Sk¢liott- Conununity EJtery)rise
The British Illstitute of Florence
120
5,(K)O
2.500
2,579
i.(M)O
7,500
1,000
150
The Bucktngham Emergency Fo(Kl Appeal (BEFA)
East of England Ambulance Service
Hardley Windmill
Mark Hambling- Community Ellteo)rise
Nick Clith¢roe Ukraine Relief Fund
Norwich Theatre Royal
Songbird Survival Trust
Springthorpe Church PCC
1,000
1,000
Balance Carried Fonvard
70,542
48,883
Pag¢ 10

THE BACON CHARITABLE TRUST
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 5 APRIL 2024
DonAtROnS mAde {Cont'd)
2024
2023
Balancc Brought Forward
70.542
48.883
St John Ambulance
900
Starr in tkne Community
Tall Ships
Waveney Stardust Trnst
100
600
70,542
50,583
A￿lysIS of fund &$sets and ]irdbilitie8
Unrestricted
Expendable
endowment
Totsl
income fund
fund
Tangible Fixed Assets
Investments
133,334
386,881
142.001
(961
661,255
133,334
386,881
142,001
961
Current assets
Current liabilÉties
661,255
Pagell