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 a￿Unts
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 O￿l¢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 {aC￿rding
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 repre￿nt the Trusts capital assets. The Trust¢es Cmploy profe$sional adviscry to manage
the investment portfolio. in order to mitigate th¢ risks and to minimise their financial impa¢t. Similarly.
the Trustees have adequate systems in place to monitor and control such risks as may impact upon the
freehold property.
Trustees, responsibililes
Und¢r th¢ Tydst Deed, the Ti'ustecs have the responsibility to Fnanage all matters conccrning the affairs of
the Trust.
Undttr ch￿ilLe$ legislation, die Trustees are required to prepare financial statements for each fin￿ela[
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 Charit￿5 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 ex￿ninatIon 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 acco￿nts 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 aCcou￿s, 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 s￿b$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 Tn￿le¢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 S￿nd 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- com￿u￿1ty 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 Garnekce￿r 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 ca￿l￿ Forward
76.528
60.292
Pa8¢ 10

THE BACON CHARrrABLE TRUST
NOTES TO THE ACCOillYTS (eonllnued)
FOR THF YEAR ENDED S APRIL 2025
DO￿tiO￿5 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