THE BACON CHARITABLE TRUST ACCOUNTS FOR THE YEAR ENDED 5 APIUL 2025 (Regi$¢ered Charity 298633)
THE BACON CHARITABLE TRUST CONTENTS Page Report of the Trustee5 Independent examiners, report Balan¢¢ the¢t Stat¢m¢nl of financial a¢tivities Notos to the aUnts 8- 11 Schedule of Investments 12
THE BACON CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025 LEGAL AND ADMINISTRATIVE INFORMATIOPI Tru5ttts Sir Ni¢holas Bacon, Bt Lady Bacon H H Bacon Principal Ol¢C The Eqtatr Offlce Raveningham Norwich Norfolk NR14 6NS Independent EJRminer Andrew Gammon AG Tax Limiied 3rd Floor 28 Austin Friar5 LA)ndon EC2N 2
'I'HE BACOIY CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025 The BaGon Charitable S¢Étlement Wits Cr¢al under a De¢d of Setileinent datcd 16 tk¢¢tnb¢i 1987 between Priscilla, LAdy Bacon {"the Settlor") and the Settlor. Sir Nicholas Bacon and William Drak¢ (the "Trnstees.), and is a registered charity, number 298633. The initial TTUSt Capital was gifted by the Settlor. Objttls Under the iern)s of the Charitable Settlem¢nl- The Trustees shall hold th¢ capitsl and income of the Trust Fund upon tru51 to apply the income and all or such part or parts of the capital for or towards such charitable {aCrding to the law of EngEand and Wales) purposes and to Enake donations to such charitabl¢ instituiions at such time or times and in such rnanner as ihe Trustees may* in their absolute discretion. think fit. The Trustees may at ili¢ir absolut¢ discr¢lion for.lhe period of 21 years from 22 April 1987. instead of applying the income of the chhrity in any yoar, accumulate all or any part of such income at Compound interest by investlng the sam¢ und the resuliing income in any of the investment5 authorised in the Trust Deed. Money to be invested under the Trust Deed may be applied or invested in thc purchBs¢ of or at inter¢st upon the seKurity of such shares. stocks. fuTLds, securiti¢s. land. buildings, chattels or other investments or property of any nature and in aiiy part of the world and wl)etlier involving liabilities or producing incom¢ or not as the Trustees shall in their absolute discretion thitlk fit. Election of Trustees The power of appointing new Trusfr¢s is v¢st¢d in the existing Trnsiee5. Or¥aoisatioTral Structure The charity is run by the Trustees, with all decision5 being taken by A majority of Trustees present at any duly constitul¢d meeting. The Trustees who served during the year are sel out below'.- Sir NicholAs Bacon. Bt Lady Bacon H H Bacoft Progress and a¢hieYements During the year to S April 2025. the Trustees have mad¢ donations to twenty four charitable institutlons tDtdllin8 £76,528. Pag¢ I
THE BACON CHARITABLE TRUST RF.PORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025 {continued) Investment pollcy The pital of th¢ Tnsst continues to be inv¢sted in listed investm¢nts in a freehold property which is opeii as an educational centr¢. Reserves policy It ts the policy of th¢ Trustees to materially distribut¢ surplus in¢ome in accordance with the charitable obj¢Gts of the'frust. The Trustees seek to maintain Capital reserves at a leyel sufficient to d¢riv¢ an annual income to enable a continuing level of support to be provided to a wide range of charitsble causes. The Truste¢s consider that the ¢xisling assets of the Trust are sufficient to meet the projexted charitable objeclives. Major risk The Trustees have undertaken an assessment of the major risks which MAY potentially impa¢t upon th¢ Charitable Trust. They have ¢on¢luded thal these relate largely to the freehold propety and investment portfolio which reprent the Trusts capital assets. The Trust¢es Cmploy profe$sional adviscry to manage the investment portfolio. in order to mitigate th¢ risks and to minimise their financial impa¢t. Similarly. the Trustees have adequate systems in place to monitor and control such risks as may impact upon the freehold property. Trustees, responsibililes Und¢r th¢ Tydst Deed, the Ti'ustecs have the responsibility to Fnanage all matters conccrning the affairs of the Trust. Undttr chilLe$ legislation, die Trustees are required to prepare financial statements for each finela[ period which givc a true And fair view of the st&te of affairs of tl)¢'l'ru5l and of the Surplus or deficit of income over expenditure. In preparing these financial stslements, the Trustees should:_ s¢le¢t suitable accounting policics and apply them consistently. observe the methods and prineipl¢s in th¢ Charities SORP,. make judgements and ¢stimates that are reasonable and prudcnt. stale whether kpplicable UK ttccounting standards hav¢ been followed, subject to any material depArtur¢s disclosed and explained in the fjnancial stat¢mcnts- Page 2
THE BACON CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025 (CODtiDued) Trustees, re5ponsibilites (continued) prepare the financial Statements on a going concern basis unless il is inappropriate to assume the Trust will continue in its activities. The Trustees are responsible for keeping proper accounting records which disclos¢ with reasonable accuracy ai any time the financial posilion of the Trust and enable it to comply with the Siatem¢nt of Recommended Practice: Accounting and RetM)rting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in th¢ UK and Republic of Ireland (FRS 102) issued on 16 July 2014 &nd with The Charities Act 2011. They have & g¢n¢rdl resp)nsibility for taking such steps as are r¢asonably open to them to safeguard the assets ofthe Trust and to prevent and detrct frnud and other irregularities. Sir Nicholas Ba¢on. Bt On behalf of the Trust¢es 27 January 2026 Page 3
THE BACON CHARITABLE TRUST INDEPENDENf EXAMINER'S REPORT TO THE TRUSTEES I report on the accounts for the year ended 5 April 2025 set out on pages 4 to 15. Respe¢tive re5PDLsibilities of trustees and examiner As the Charit5 trustees you are responsible for the preparatiun of the ac¢ounls' you consider that the audit r¢quirement of Se¢tion 144(2) of the Cl]arities Act 2011 (th¢ Charities Act) does not apply for this Ye and that an independent exninatIon is needed. It is my responsibilty to examine the accounts (under Section 145 of the Charities Act), to follow the procedures laid down in the General Di[tionS given by the Charity Commissioners (under section 145(5Xb) of the Charities Act). and io state wh¢th¢r particular matter5 have come to my attention. B#$i5 of Indep¢nd¢u¢ examlner's report My examination was carried out in accordanc¢ with the Gcnernl Directions given by the Charity Coinmissioners. An examination includes a r¢vi¢w of th¢ ttLLounliT]bY e0rd$ kept by the Charity and a comparison of the &ccount5 presented with those record5. It also in¢lyd¢s considerdtion of any unusual itms or dis¢losur¢s the accounts and s¢cking explanaiions from you as trustees ¢onc¢rning any such matters. The procedures undertaken do not provide all the evidence that would be requir¢d in an audiL and wns¢quently no opinioii is given as to whether the accounts present a 'true and fair. view and the report is limited to those matters set out in the statement below. Independent examiner'$ statement In connection with my ¢xamination. no matt¢r has come to my attention whi¢h gives n7e caug¢ to believe that in, any m&t¢rial respect: the accounting records were noi kcpt in accordanc¢ with Kction 130 of the Charities A¢t' or thc accounts did not accord with the arcounling records- or th¢ dLcounts did noi comply with the applicable requirements ¢onccrning the fom and cont¢nt of acconts set out in the C.httriti¢s (Accounts and Reports) Rcgulations 2008 oiher Éhan any requirement that the accounts give a'true and fair, View which is not a matter considered as part of an independent examination. Page 4
THE BACON CHARITABLE TRU INDEPENDENT EXAMINER'S REPORT TO TE TRUSTEES (contiDued) I have cozne across no olJLer matt¢rs in conne¢tion with the examination to which attention should be drawn in this report in order to enabl¢ a proper understhnding of the Accounts to be reached. 27 January 2026 3rd Fl¢xJr 28 Austin Friars London EC2N 2QQ rew GammoD Page 5
THE BACON CHARITAB TRUST BALANCE SHEET AS AT 5 APRIL 2025 2025 2024 Not Tangible Fixed Assets 135.053 133,334 lrtvestmellts (PXF 12) 379.181 386,881 514,234 520,215 Currellt Assets Other d¢bto 15,668 1,289 58.900 15,809 23.414 102.778 Income tax repayable Cash at bank 75,857 142.001 Current liabilities Creditors 967 961 Net eorrent a55et 74.890 141,040 Totsl *ssel¥ less current liibilities 589,124 661.255 Unrestricted funds: Expendable endowment fyrtd (Page 7) 589,124 661,255 Unrestricted income fund (Page 7) 589.124 661,255 The financial ststem¢nts were approved by the Trustees on and signed on their behalf by Sir Nicholas Bacon. Bt Page 6
THE BACOIY CHARII'ABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR EIYDED S APRIL 2025 2025 Expend&ble endowment 2024 TotAI Uhrestrieted irteome fund Totsl Notes Incoming resource8 Incoming resources from gen¢ry41ed funds Voluntary income Donations Inv¢$tment income - Bank income (gross) Tot81 incoming resourceB 8.630 5,002 13,632 120,669 2,614 11,244 2,614 16,246 835 5,002 121.504 R¢Jourtts expended Direcl charitable expenditure - Donations made - Property r¢pLirs - Sundry expenses 76,528 1.619 2,050 76,528 ,619 2,050 70.542 430 1.427 80.197 80,197 72.399 Cost of generating funds Investment management fees Govemance costs Independent examiners, fees - Legal fees 480 480 480 4110 480 480 Tvt81 r¢50urc£8 e5peniJed 80.677 80,677 72,879 Net incomingl(outgoing} resource. Transfer to in¢oFrne account Realised foreign exchange gainsl(losscs) Gkinsl(losses) on investment assets= Realised Unrealised (69.433) 69,433 (64,431) 48.625 (69,4331 175 {175) 175 (175) (7,7(Ml) {7,700) (19.105) Nel D)oveDEeDt in funds Fund iiatances brought forward Fund balances carried forward (?2,131) 661.255 589.1 ?4 (72.131} 661,255 29,520 631.735 661,275 589.1 ?4 The statement of financial activities has been prepared on thc basis (hat all operations are coiitinuing operations Page 7
THE BACON CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED S APRIL 2025 Bgsis of prep8rntlon B#si$ of 4etOUDtin The accounts have bcen prepared in accordance with the StaierneTtt of Recommrnded Practic£'. Accountln8 and Rew)rting by Charities preparin2 their accounts in accordance with the Financi Reporting Standard appliLHble in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Chorities Act 201 1. The charity constitutes a wblic benefit entity as defined by FRS 102. The accounts have been prepared under the historical wst Convtntioll. Is miJdifLed by the revaluation of investments * matknt vaiue. R¢concIliatio wlth prevlous G¢Thernlly A¢¢epteil AttouDting Prg£ti¢¢ In preparing the aCcous, the trustees have considered whether in applying the accounting policies required by FRS 102 and ih¢ Charitics SORP FRS 102 the reStaterne of comparative items required. No restalements wetE required. Golng eonttrn The trult report¢d a net cash oufflow of £64.43] durfftng the yfdr and the trustees are of the view that the charity is a going Goncern. Incomithg resources Income is recognised when the Charity has entitlement to the funds, any perfornianc¢ conditions attached to the item(s) of income have be¢n m¢L it 18 probable that the incorne will be r¢1V¢d and the arnount can be measured reliably. Expenditure Expenditure is recognised once there is a le8al or ¢onstru¢tive obligation to make a payment ro a third party. it is probable that 5ettleEnent will be r¢quired and the amount of the obligaiion ean be measured reliably. Support eo$ts Charitable activities represents amounts expended for the specifjc Purpos designated by th¢ Trustees, as directed by the objects of the Trust. There are no non specifi¢ supwrt costs. All costs are alloLXted to the aciivity to which they rel*e. Govern3nce costs relate to costs incurred in th¢ gencr81 nmning of the charity. Page 8
THE BACON CHARITABLE TRUST IYOTES TO THE ACCOUKtS {eODtinued) FOR THE YEAR ENDED S APRIL 2025 Tangible Fixed A&4ets FTcehold property is capitali5¢d and valu¢d at C05t. The trustees believe there is no change of market valu¢ of the pror, h¢nce no irnpainnent is required durin8 the year. Investments Fixed asset investm¢[ in share& traded EK)nds and similar invesrmenis are valued initially ai eo# artd sb$equentlY at fair va]u¢ (th¢ir market 1¢) at the yeaT end. FuDds The unrestricted income fund is available fot use at the discretion of the Tnle¢S in furtherance of the objectives of the Trust and which hav¢ not b¢¢n dcsignated for othw purposes. The expendable endowment fund may be vtilised at the discretion of ih¢ Trustees to fund any deficiÉ in annual incom4 but 18 not regarded as being gen¢rally avaiiabl¢ to Snd on any or a]1 of the Trusvs purp05aS. Tanglble (Ixed 958ets Freehold property C05t At 6 April 2024 Additions in the year 133.i)4 1.719 At 5 April 2025 135,053 book value Ai 5 April 2025 135,053 At 5 April 2024 133,334 Page 9
THE BACON CHARITABLE TRUST NOTES TO THE AccouNfs (eontinued) FOR THE YEAR ENDED 5 APRIL 2025 DonatloDS made 2025 2024 RHS Fellows The Country Trust East Anglia Art Fund IEAAF Patrons) Linc5 & Notts Air Ambulance CPRE 5,000 6,811 1,2(KJ 2.072 6,878 1.200 500 3.000 2.0( 500 Feeding Gainsborough Jacob Woolnough- comu1ty Enterprise National Centre for Writing New English Ballet Theatre Norfolk & NorwÉch Festival Tn Paradis Commemoration Group Memorial Appeal RASC (Royal Agri¢ultural Society of the Commenweaith) RNAA Scottish Garnekcer Association SpringthoTEK Church PCC Starston PCC The Fisher Youth Theatrc Group The Matrhew Project- Cathedral The Norfolk Club The Papilon Project The River Trust Toft F¢d¢rdTion of Locals Againsr People Speeding Tofi Monks Community Cjroup Tog¢ther CIO Priscilla Bacon Hospi¢e Cancer & Pisces Tw Connexions Community Hub Earl of BesstK>rough (Fiddown Church Restoration Group) Excelsior Trust H Roebuck- CommunÉty Enterprise Ha]es & Loddon CC Jack Topping- Community Enierprise i.(x)o 500 2,000 1,00 5.000 10,(x)o 3.000 5(Xl 250 500 3.000 5.000 10,000 5,000 200 500 10.000 40,(X)O 1,000 1.509 1.000 500 200 Joo 500 Balance cal Forward 76.528 60.292 Pa8¢ 10
THE BACON CHARrrABLE TRUST NOTES TO THE ACCOillYTS (eonllnued) FOR THF YEAR ENDED S APRIL 2025 DOtiO5 m4de (Cont'd) 2025 2024 Balanc¢ Brought Fonvard 76.528 60.292 Norfolk B¢ekeews Association R Ward- Comrnunity Enterprise Theatre Royal (Norwith) Trusi Ltd Thornage Hall 1nd¢rtdent Living I,0 7,500 750 1.000 76.528 70.542 Analysis of fund assets and laabilftle8 UDrertrieted income fund Expendab endowment fund Totsl Tangible Fix¢d Assets Investments 135.053 379.181 75.857 967 135,053 379.181 75,857 967 589,124 Current &ssets Current liabilities 589.124 P8gell
THE BACON CHARITABLE TRUST SCHEDULE OF INvEsTrIEf4TS AND OF THE INCOME THEREFROM FOR THE YEAR ENDED S APRIL 202S Book Value Profrtl (LA) on disposal Book Value Value 5.425 Nomin81 5.4.24 5.4.25 UK-Quoted LF Brook Absol@ Rdurn Fund £ I Fund Acc (UK) Purchas 12.12.16 Sold in the ycar Carried Forward 57,656.41 72.41) 57,584 160.936 (202) 160.734 175 160,734 277,698 Raveningham Group Broadband CIC Purchased 24.I1.17 Ord £1 $hare$ 35.500.00 35,500 35.500 101,483 £ 1)1 6.234 £ 196,234 £ 379,181 tel2