REGISTERED CHARITI, Nu￿,lBER. 1174697
rt of the Trustees and
Unaudited Financial Statements for the l'ear Ended 31 Mai, 2024
for
Ellzabeth Nlontauu Corre$
)ondence Online
Peter Upton
Bridge House
2 Bridge Avenue
Maidenhead
Berkshire
SL6 IRR

Elizabeth Nlonta¢tu Corre$ ondence Online
Contents of the Financial Statements
for the Year Ended 31 Mai. 2024
Page
Report of the Trustees
Independent Examiner's Report
Statement of Flnanei&l ACtI￿￿tIeS
Balance Sheet
Notes to the Flnanclal Statements
7 to 10
DetAiled Ststement of Flnanclal Actl%,Itles

Ell7.Jbeth l.lontaf¥u Corres ondence Online
Re ort of the Trustees
for the l'ear Ended 31 ￿18￿. 2024
The trusteL% M,ho are also direLrors of the charity for the purpos¢s ot rhe Companies Act ?000, pregent their report with the tinancial
stateinentS Ot (he charity for the year ended 31 May 2024. The rrustees hai'e lldopte<l the proK'i.sionb of Accounting and Reportino by
Charities-. Stalwnent of ReL'ommLnded PraLtice applicable to charities preparing thcii- accouni.q in aecordanLe w'ith the FinanLial
ReportinfJ Standard applicabl¢ in th¢ UK and Republic ot Ireland (FRS 1021 (ettectiN'e l January 20191.
OBJECTII'F.S AND ACTIIIITIES
Objectives aftd Charitable Purposes
The obj¥Lt% ot the charity are to adi'ance ¢(lucaiion for the public benetit by publishino an onlinc edition ot Il)e letters of EIi7Abeth
Montagu. her COn￿pOndentS and other menibers of her circle I'the Montagu Correspondence") in particulL?r bui noi ex¢lu%ivcly as a
mvans to=
a) ad￿a￿L< schc)larship and litcrary and hi8toriLal rrscarch by Inaking th¢ online comp()nd¢nLc archivc available for use as an
eduLational Èool by academic institutions and inter(3tcd me]nbers ot-the public.
b) Lncoura¥e sLholars anLI rrgellrLher4 to transcribL. edit. study and publish Inaterilll.% arising froin the online c()rrLwndcnce archive.
and to proi'ide ihem ivith %Lholarshipb. expL'nse rLiinbuTh¥mL'nt and other tonn5 Ot tinancial a&sisrance for this purpose.
The tru.qtees are Inindtul ot the Chariiy Coinmission guidelines on public benetit.
Structure, Governance & ￿l￿nagement
The chariry was registered as a Charitable Incorporated Organisation on 18th September 2017. It is administered by its Trusiec8, and
the day-to-day adininistration is carried out by Joanna Barkcr. The Trusleeb reeei%'e no rnnun¢ration troin the charity.
Trustees
Prof&8sor Caroline Franklin {Chairl
Professor Mike FiJnklin
Profesbor Nicole Pohl
Dr Elizab¢th Eg¢r
Joanna Barker
The founding Tru%tees listed abo¥'e ivere appoinEed on 18th Septcmber 2017 ttncl seTh'e an initial tenn of betii'een tw'o and tour year¥
(as SLt out in the founding doLui))cnt). and m<ly thereafter be re-elected tor tennq of three yL?rs.
ThL Trustees haK'¢ fainiliarised thcin8elires w'ith their resyon%ibilitie% and obligatioris 415 set out on the websiie of the Charity
Coinmissiun. New trustees, Ivhen appointed. will benetii froin an induction pruL*5S.
Don#tlOliS
A donation rcLei¥ed durintr the year froin rhc Ardeola Charilablc Trust. olM.hiLh J(TrJnna Barkcr is a trustee.
Rei'iew. of Actii'itles
During the year undcr rLI'ieiv. the transcripiion and ediling ot MontdtFu'% IL*tcrs Lontinu¢d. briligin￿ the nuinber of Sections with
Indi￿ldual corrcspondcnts to eighieen. A turthrr thrLL intcrns were selected after a public ink'itation for applications and ivere trained
in ihe tran.%cription and XML mark-up ot the Ictters to Elizabeth Caner.
Oxtord Brookes reiinbursed oi'¢ipuid fLe5 in respect of the Cooperation Agreein¥nT. which ha5 now come to an end.
In DeL'ember 20?3 a su¢cessful contereiice was held in lh¢ Hulltington Library, Calitornia. on th¢ topi¢ 'cO￿pondenCe &.
Ewnbodimeni= the Bluestocking Corpus Online,.
The Trust¢e% are sad to report the Ileath in June 20?4 ot Protessor M ichael Franklin. one of (he tounding trustee% of thl charity. an
nineni scholar of the eighteenth century and a good friend.
Puge I

EIi7Abeth Monta￿￿ Corres
ndence Onllne
Re Jort of the Trustees
for the I'car F.nded 31 .Ilai 2024
ACHIEI'ENIENT AND PERFORNqA,YCE
The Trustees are responsiblr for preparing the annual report and finanLial SthiLTnents in <1cLordiinLe ii'ith applicable law and United
Kingdom Genernlly AcL'epted AcLountinu Practice. In prep?£ ring these fin8nciiil 5tatein¢nts, the TrustLYS arL required to:
l. Select suitable accounting policies and apply them consistently
2. Observe th¢ merhods and principles of the Chariii&% SORP
3. Muke judwn¢nt5 and e8timates rhat are rcasunablL and prudent
4. State ivhLther <ippIiLable itii()unting standards have be¢n t"olloM'ed, subj¢cr ti) any departures digelosed aiid explained in the
tinancial statLYnentS
5. Prepare the financi<il %tateinents on the ¥oiJig Lonccm basis unle%% it is inappmpriate to ￿ls&U]llc that ihe Lhtirity Mill Lvntinuc in
uper<itii)n.
ThL Trustces are respon4ible fi)r kLLying proper acei)untin(y rLYords ￿,hICh di.s¢lose H'ith reason<ible aLLuracy at any timc ihc financial
ysition of the charity, ajid to enable thLm io ensurc that the ace()unt% Lomply with the Charities Act 2011 and the Charities
(AeL￿￿ntS and Report%) Regulations 2008. They arL also rc8￿n￿lb]e t(yr %atcguarding the a.%SCt% ot. the charity h￿l¢ for taking
reasoilable stepi for thc prLvcnrion and detectiotb ot trdud and other irregularitiCS.
FINANCIAL REVIEW
Donations
The trustees are ttrnlelul t(I thL FoylL. Foundation t.or it% generous grani ot £15.(KIo. ￿,hICh has enabled th¢ ¢hariry lo support EJ
r¢searLh assisrant al Oxford Llrooke8 Unii'ersity tor 8 turthcr year.
A donarion was receii'ed during the year from ihe Ardeola Chariiable Trust. ot which Joanna Barker is a tNsie¢.
Reserves policy
The poliLy adopted by th¢ Trustecs is to hold a level of cash ihaL taken togerher with tirni tutur¢ pledges trom its existing tundtts.
'ill be.4ufticienl to tulfil its known obligations tor ihe next twelve months.
The Trustees declare that they hai'e appro￿.ed th¢ trnbiees, rq)ort and accuunrs for the yvdr ended 31 st May 2024.
STRUCTURE, GOVERNANCE AND MANAGEI¥IENT
GoN'erning document
The chariiy is con(rollLYi by its goi'erning doLumenL a decd ot trust. and vonsritutes a limited conipany. liinited by guarnntee. a
dcfined by the Coinpanies A¢t ?006.
The Lharity regist¢r¢d as a Charitable Incorporated Organisation on 18th SepteinlKr 2017. Ir is adininistcred by its Trustees. and
the day-to-day 1£ dininistration ib Ca￿led out by Joanna Barker. The Trustth retii¥'e no remuneration troim the charity.
The TrubteLS ser¥'e an initial tertn of between EIVO and tour years (as Out in the tounding docuinent), and Inay ther¢*fter be
re-elected for tenn.$ of thr¢e years.
The Trustees ha￿¢ familiaribed thcmselves with thLir rcsponsibilities llnd ()bligatiolls as out on the website of the Charity
Coinmissiun. N¢w tru%tLLs, Ivhcn appointed, will IKiictit trorn an indu¢ti()n proccss.
REFERENCE AND ADMINISTRATIIIE DETAILS
ReL¥iStered Compani. number
CEO12241 {England and Wales)
Registered Charit). number
1174697
Registered offjce
CrcLk Housc
F ishcry Roacl
Bray
Bcrkshire
SL6 IUN
Trustees
Prof¢$50r C Frnnklin Chair
Professor M Franklin
Professor N Pohl
Dr E Eger
J Barker
Compan}. Secretary
Pag¢ 2

Elllabeih hlont&iJu Corres
ottdenee Online
iort OC the Trustees
for the l'ear Ended 31 Nlai. 2024
REFERENCE AND ADNIINISTRATIVE DETAILS
Independent Examiner
Peter Upton FCA CTA
Peter Upton
BridgL House
? Bridge AN'enue
Maidenhead
BerkshirL
SL6 IRR
Bankers
CAFBank
?5 Kings Hill Av'enue
Kings Hill
W&4t Malling
Kent
ME194JQ
App￿￿ed by order ot'th¢ board i)f tru.4teLs on .
*E(4 A
and signed on lis b¢halt by..
J Barker- Trustee
Page 3

Inde
Jendent Examlner's Re
rt to the Trustees ot
Ellzabeth Montaou Corre$ ￿ndence Online
Independtht examiaer's report to the trustees of Elizabeth ￿lo￿t￿gU Correspondence Online (Ithe Compan} )
I rep()rt to (he Lhi1rity trustees c)n my examination of the a¢¢ounts of the Conipany ti)r the year ended 31 May ?U?4.
Responsibilities and basis of report
As thc charitVs trusiees ot- thL Coiiipany {and lllw its dircLtors tor the purposcs ot Loinpany laiv) you are responsible f()r thc
preparniion vf ihc aLCOUllts in acLordancc with thc requirements of the Compiinies A¢1 ?006 ('thc 2UL)6 Act'}.
Having satisti¢d iny%elt that tlie acLounts ot the Company are not required to be auditecl under Part 16 of the 2n06 Act and are
eligibl¢ tor indwendent exaininc1tion. I report in respeLt of my examinatii)n ot your charity's aLcounts a% ¥(Irried under Section
145 of the Charities Act 2011 {'Ihc 201 l Act,). In ¢anyin8 out Iny exaininatioii I ha￿'e tolloived the Direction.8 gi¥'en by the Charity
Cotnwni55ion Und￿ Section 145151 (bl ot the 2011 Act.
Independent e¥aminer's statement
I hai'c Lonipleied niy ¢xaii)iAation. I contimi that no Inutters hai'e coine ro my attention in conn¢¢tion ivith the e.xamination giK'ing tne
caufe to believ¢..
accounting reL￿rd5 ivere not kepi in rtspect nf ih¢ Company as requirLyI by SLx'tioi1 386 ot the 2006 Act- or
thL accounts do not accvrd ivith thobL record%. or
the aLL()Utits Llo not coinply H'ith the aLLDunling requirement% of ScLtion 396 ofthe 9006 Act othcr than any reqUIre]￿tTIt that
the account% trji'c a true and tair ¥'ieM' whiLh is not a n)atier L(TrllbidLrLd a% part ot an ind¢yLndent e.Yainination: or
the accounts have not been prLyarcd in accordance with thc methods and prinLiples Ot- the StÈltLYllLnl of RLYoinm¢nd¢d
PractlLL for aLcounting nd repnrting by chclrities lapplscable to chariiies prLyaring their alcounts in aLcordance with rhe
Financial Reporting Standard appliL&ble in the UK and RepubliL ot Ireland (FRS I O?)).
I hai'e no concems and hal'e coiM¢ across no oth¢r matiers in connection with thv exainination to which atteniion should be drawn in
this repi)rt in order (O Lnable a proper understhnding ot the accounis lo be reached.
P￿er Upton FCA fffA
Peter Upion
Bridge House
2 Bridge AvL*ue
Maidenh¢ad
Berkshir¢'
SL6 IRR
Date..
Puge 4

Ell£abeth ￿.70t1t￿lIV Corre$ )ondence Online
Siatement of Flnancial Activities
for the Year Ended JI 2024
31.5.?4
Unr¢striCiLd
fund
tunds
Notes
INCOME AND ENDOWMENTS FROfvI
Donationè and legllcies
LJ
?{I,000
i 0.000
Other trading aLrI￿lI1¢S
In￿e￿tinent incoin¢
9.638
14
13
Total
9.652
10.013
EXPENDITURE ON
Charitable activities
Charitable Aclii'ities
16.549
93,646
NET INCOMEI(EXPENDITURE
13.103
(13.6331
RECONCILIATION OF FUNDS
Toral tund% brought fon4.ard
13?
13.765
TOTAL FUNDS CARRIED FORWARD
13.235
132
The notes torni part ot these financi1< I statemLmts
Pagc 5

Ellzabeth 11.lontA
u Corres
ndence Online
Balon¢e Sheet
31 ￿la1. 2024
.11.5.?4
Unresiri¢ied
fund
Total
tunds
Notes
CURRENT ASSETS
Cash at bank
13.8.35
612
CREDITORS
Ainounts falling due within one year
1600)
(480)
NET CURRENT ASSETS
l j.?35
132
TOTAL ASSETS LESS CURRENT LIABILITIES
13.235
132
NET ASSETS
13.?35
13?
FUNDS
Unr&qtricted tunds:
General fund
13,235
132
TOTAL FUiYDS
13.235
13?
mie charitable Company is entitled to exanption from audit under Section 477 of the Companies Act 2006 for the yekjr ¢nded
31 May 20?4.
The In￿nber5 hi¢ K'¢ not required tlie COmP<iny to c)bt¢iin an audit of its financial statements tor the year cnded 31 May 20?4 in
aecordanLtr I4'ith SLLtion 476 ot the Coinpanits Act 2(K)6.
ThL' trustees acknoivl¢dgc thcir I'L￿pOnsibIlitIeS tur
¢nsuring that thc charitable ¢oinpany k¢vp% accounting r￿OrdS that coniply with Sections 386 and 387 Ql-the Coinpanic5 Act
?006 and
pr¢parii)g finl& ncial statancnts ￿,hiCh gii'e a true tair i'iew ot the %tate ot-aftairs of the charitable company as al the end ot
eaLh financial year and ot l¢b surplus or deficit for each tinancial year in accorddnce ivith the requireinents of SeL'rion$ 394
and 395 and ivhich orh¢n¥ise L02nply with the requireinents ot the Companieb Act ?006 relatillg to tinan¢ial statemenLs. so
far as applicable to tlie charitable conipany.
Ib)
Th￿¢ finttneial sta(einLnls hai'e bLrn prepared in accordanLe with the proi'isions applicable to charitablL companies subject to the
small comptsnies regiine.
The tinancial statemLnts wcrc approi'cd by the B()ard of Trusteets and aurhorised tor issue on
signcd on its ￿h31t by..
. and wcre
arker- Truste¢
The notes fonn part of these finanLic21 btatL'ment
Page 6

Eliz&beth l¥lonta41U Corr¢s jondence Online
Notes to the Finineial Statements
for the l ear Ended .31 Nlai 2024
ACCOUNTING POLICIES
asis of preparing the finanti*l statements
The tii)aneial siatement% ot the eharituble cornpany. whick is a public benL.tit entity under FRS I O? hai'e been prq)ared in
aLcordance ivitk th¢ Chariries SORP (FRS 102) 'Aceountiiig and Reporting by CharitiLs-. Siatenient of. Recoininended
PraLtiLe applicqble lo charities preparing their a¢¢ount5 in acLordance wilh tl)¥ Fin<lnCilc l Reporting Standard appliLable in
the UK and RepubliL ot Ireland {FRS I O?) (cftective l January ?019)'. FinanLial Reporting Standard l O? 'ThL Financial
Reporting Stanclard applic1( ble in the UK and Republic of Ireland, and tl)e Coinpanies Act ?006. The financial statements
have been prepared under the historical cost conveniion.
Income
All inconie is wosiiis¢d in ihe Statement of Finan¢ial Activities once thL ¢harity ha% entitleinent to the tundN. it is proi)able
that the incoine ￿.][[ b¢ receiv'ed and the ainount Can be measured reliably.
Expenditure
Licibilities arL recognisLxI as ¢xpenditure as soon as there is a legal or consrru¢li¥'e obligation cominilting the charity lo that
e￿￿'ndi¢ure, li IN prob#blc that a tran%ter of e¢onomie benetits will be required in %ettl¢Jn¢nt ancl the ai)iounl ol-the (Ibligation
can be Ineasured reliably. ExpLnditure is a¢YOUnted tor on an a¢K'ruals basis and has been cliissified under heading8 that
¥￿gat¢ all Lost relaied to il)¢ ¢at¢gory. Where costs cannor be directly attribute(I to particular h¢ading8 thLy have been
alloLat¢d to actiN'ities on a bafis consisrent with the u.se ot r¢%ources.
TaYa¢ion
The chariry ib e.xempt from corporntion ta.x oil its cliaritable a¢tii'iti¢s.
Fund accounting
Unrestricted tunds Lan be used in aLcordanL¢ With the Lharitable objecii¥'¢% ai the di.8crelion ot-the irustLYs.
Re8tricted funds cali only be Uyed for particular restri¢ted purposes within ih¢ object% ot the Lhariiy. Re4trictions arise ivhen
speLitied by ihe donnr or wlien funds ore rnis¢d for paiticular restricred purpose%.
Further explanation ot the nature and purpose ot"e&Lh fund 15 includ¢d in rhe notes to the tinancial stateiiicntb.
OTHER TRADING ACTII'ITIES
F¢¢$ r¢iinburS￿nent
9,638
INIIESThqF.NT INCOfvqE
31.5.?3
Intere%t r¢ceii'ablt'_ trading
14
13
TRUSTEES, RENIUNERATION AND BENEFITS
There 14'cre no truste￿, ranunerntion or other benLThfit.4 for the y<￿r ended 31 May ?0?4 nor tor IhL year ended 31 May 2023.
Trustees, expenses
There were no truste¢s' expenses paid tor the year ended 31 May ?0?4 nor tor the year ended 31 May ?0?3.
Page 7
¢ontinud...

Ellzabeth Corre$
ndence Online
No¢¢s to the Flnaneial Statements - Continued
for the l-ear Ended 31 i¥lai' 2024
CONIPAIL4TIN'ES FOR THF. STATE￿IENT OF FINANCIAL AC'fIiiiTIES
(Inrestricted
tund
INCOME AND ENDOII'MENTS FROM
Donaiions and legaLie5
i 0.000
1n￿￿ttnent income
13
Total
10,013
EXPENIDITLRE ON
Charitable actii'itie5
Cl7arit¢1bl¢ Actii'ities
23,646
IYET INCO￿lE/{ExPEND1TuRE)
(13.6331
RECONCILJATIOIY OF FUNDS
Total funds brought forward
13,765
TOTAL FLNDS CARRIED FORM'ARD
13?
CREDITOKS: AMOUNTS FALLING DUE W'ITHIN OIYE I'EAR
31.5.?4
31.5.?3
Accrued cxpenses
600
480
MOVEMENT IN FUNDS
Net
movanent
in funds
At
31.5.24
At 1.6.?3
Unrestricted funds
General tund
13?
13.103
13.235
TOTAL FUNDS
132
13.103
Net movanenr in t-unds. included in the aboi'e are as follows..
Incoming
rl*oU￿e5
Rebource%
expended
Mol'e]n¢￿t
in funds
Unrestrieted t'unds
Genernl tund
29.652
{16.549)
13.103
TOTAL FUNDS
29,651
116.549)
13,103
coniinued...

Eli7abeth ￿lOntI¢l￿ Corres
ndence Onllne
Notes to the Financial Stfltements - continued
for the l'ear Ended 31 2024
fvlol,E￿lENT IN FUNDS- continued
Comparatli'es for movement In funds
Ai
31.5.23
At 1.6.22
itt tund
Unrestrlcted funds
Gencrdl tund
13,765
(13,633)
132
TOTAL FUNDS
13,765
(13.633)
132
Comparative net inoi'enient in tunds. included ill the aboi'e are as follows..
Incoining
re%our¢es
Resources
expend¢d
Movement
in fundq
Unrestrl¢¢ed funds
G¢neral fund
10,013
(23.646)
(13,633)
TOTAL FUNDS
10.013
(23.()46)
113.6331
A current year l ? months and prior yLYr 12 months combined position is as ti)Ilow's.'
Net
At
31.5.?4
At 1.6.22
in tund
UnrestrSeted funds
Gcncral tund
13,765
(5301
13,235
TOTAL FUNDS
13.765
{530)
13.235
A current year 12 months and pricir year l ? months coinbined net moi'ement in funds. inLluded in the ab()ve are as tolloivs..
In¢oining
resources
Resource
expended
Movaneni
in funds
Unre5tri¢ted funds
General tund
39.665
(40,195)
(530)
TOTAL FUiNDS
3Y.665
(40.11)5)
(530)
Page 9
¢ontinued...

Elizabeth Illontaiju Corre5
)ondence Online
Notes to the Financial St4temtnts- continued
for the l'ear Ended 31 ￿1&1, 2Q24
RELATED PARTI, DISCLOSURES
Thcre were no related party transaciions ti)r the year ended 31 May 2024.
Page 10

Ll
Eli7*beth ￿lontai￿ll Corres
ndence Onllne
Detailed Statement of Flnoneial Activltles
for the Year Ended 11 N.lav 2024
31.5.?4
31.5.23
Ir4cO￿lE AND ElYDON￿MENTs
Donations and legacie5
Grnntb & Donation%
?0,000
i 0.000
Other tradlng Aetii'ities
Fee5 reiinbursein¢nt
9,638
ntrestment income
Interest receik'oble- trading
14
13
Total Incoming resources
29.65?
10,013
EXPENDITURE
Charltable aCtI￿tIeS
Sundrie
Purcliasc of riglits t() diryital imagL
Funding of re3earch &i%istants
Goi'ernanc¢ expen8e%
ConlerenL¢ ¢xp¢rises
Oxtord Brookes Cooperntion
37
204
15.9?8
i?0
2UO
?03
13.800
480
9.096
16.489
23.579
Support costs
Finance
Bank charge
60
67
Totul rLY>urco% ¢xp¢nded
16.549
?3.646
Net incomel{eipenditure)
13.103
(13.6331
This page does not foTm part of tlie statutory financial statemeni
Pagell