Preheat your oven to 180°C (350°F).
Line a rectangular baking dish (approx. 8x12 inches) with parchment paper or lightly grease it with cooking spray.
Grate the zucchini and carrot using a box grater.
Transfer the shredded zucchini onto a spotless kitchen towel and press firmly to extract any remaining liquid.
This step is essential to prevent the slice from becoming soggy.
Dice the onion, bacon, and red capsicum/bell pepper.
Heat the olive oil in a large skillet over medium heat.
Add the diced bacon and cook until crispy, about 5 minutes.
Add the diced onion and red capsicum to the skillet and sauté for another 3-4 minutes until the vegetables are soft and the onion is translucent.
Remove from heat and let it cool slightly.
In a large mixing bowl, combine the grated zucchini, carrot, cooked bacon mixture, and grated cheddar cheese.
In a separate bowl, whisk together the eggs and milk until well combined.
Sift the self-raising flour over the vegetable mixture and mix gently to combine.
Pour the egg and milk mixture over the vegetables and stir until all ingredients are well incorporated.
Pour the mixture into the prepared baking dish, spreading it out evenly.
Bake in the preheated oven for 30-35 minutes, or until the slice is set and golden brown on top.
Allow the slice to cool in the baking dish for 10 minutes before transferring to a wire rack to cool completely.
Cut into squares or slices and serve warm or at room temperature.