2024-06-30-accounts - Ludwig Wittgenstein Trust

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

LUDWIG WITTGENSTEIN TRUST

ACCOUNTS FOR THE YEAR ENDED

30 JUNE 2024

LUDWIG WITTGENSTEIN TRUST

ACCOUNTS FOR THE YEAR ENDED

30 JUNE 2024

CONTENTS	PAGE
Charity Information	1
Trustees' Report	2 - 4
Independent Examiner's Report	5
Statement of Financial Activities	6
Balance Sheet	7
Notes to the Accounts	8 - 11

LUDWIG WITTGENSTEIN TRUST

CHARITY INFORMATION

TRUSTEES:	Mr G M D Day
	Mrs G Moore (Secretary)
	Professor M Rössner
	Mr H Jones
PRINCIPAL ADDRESS:	Church Rate Corner
	Malting Lane
	Cambridge
	CB3 9HF
CHARITY NUMBER:	1059976
ACCOUNTANTS:	Chater Allan LLP
	7 Quy Court
	Colliers Lane
	Stow-cum-Quay
	CB25 9AU
INDEPENDENT EXAMINER:	Stuart Arrandale
	Chartered Accountant
	23-25 Gwydir Street
	Cambridge
	CB1 2LG
PRINCIPAL BANKERS:	National Westminster Bank Plc

LUDWIG WITTGENSTEIN TRUST TRUSTEES' REPORT YEAR ENDED 30 JUNE 2024

The Trustees present the charity's accounts for the year ended 30 June 2024.

History, objectives activities and governance of the Trust

The Trust was originally set up as the Wittgenstein Archive. It was registered as a charity on 3 January 1997. In order that the Trust’s name more accurately reflect its purposes, the trustees agreed in February 2012 to change the Trust’s name to the Ludwig Wittgenstein Trust. On 11 April 2012 confirmation was received from the Charity Commission that the name had changed.

The Trust’s foremost objective is to edit and publish the works of Ludwig Wittgenstein. The charity also seeks to advance the education of the public in the life, works and philosophy of Ludwig Wittgenstein. Michael Nedo has been the director of the charity since its inception. The charity houses Michael Nedo’s collection of material related to Wittgenstein’s life and work: photographs, correspondence and other documents and objects.

Eighteen volumes of the Vienna Edition of Wittgenstein’s writings appeared between 1993 and 2001, 9,098 printed pages. Publishing of Wittgenstein’s writings resumed in 2019; by 2024, ten additional volumes had been published, approaching 3000 printed pages. Other activities of the charity have included supporting PhD, post-doc and masters students in philosophy and computer science researching Wittgenstein’s writings and tools for preserving and researching written cultural inheritance; also hosting and organising conferences and seminars, mounting exhibitions, giving lectures, contributing to scholarly and popular publications, answering queries from the public, and granting the reproduction and licensing of images from the collection.

The original trustees were Professor G. E. M. Anscome, G. M. D. Day and G. Moore. The trustees are now G. M. D. Day, G. Moore, Professor Michael Rössner, and Huw Jones. The trustees hold two in person meetings a year, one to approve the accounts and the other the AGM. At other times during the year the Trustees communicate by email to review progress against objectives and the risks the charity faces.

On 4 May 2011 the Governing Body of Clare Hall, a college of Cambridge University, agreed the association of the Wittgenstein Edition with the College; the association was approved by the College Council. This association, entitled ‘The Wittgenstein Project Clare Hall’ permits the Trust to apply for funding under the name of the college, potentially opening up new revenue streams while not restricting the Trust from undertaking independent activities.

From 1994 until late in 2006 the home of the edition and the archive collection was 2 Grantchester Road, Cambridge, the property of the late Sir Colin St John Wilson. In August 2006 the property was sold and two months later the Wittgenstein Archive relocated back to its earlier address, 3 Andersons Court, Newnham Road, Cambridge. This remains the physical home of the Ludwig Wittgenstein Trust.

Achievements and performance in 23-24 (and early 24-25)

Volume 10.1 of the Vienna Edition had been published in February 2023. Volume 10.2 was published in July. In August the Director gave a talk at the annual Wittgenstein Symposium in Kirchberg, Austria about the publication of Wittgenstein’s collections of cuttings; the talk will be published by science publisher De Gruyter, Berlin. Volume 10.3 of the Vienna Edition was sent to the publisher in December 2023 and appeared in February 2024. This milestone means that the first stage of the Vienna Edition project is complete, with every iteration of Wittgenstein’s 1929-1933 philosophical output leading to the production of Wittgenstein’s second book project, the so-called ‘Big Typescript’, available for the first time, in supremely readable form.

LUDWIG WITTGENSTEIN TRUST TRUSTEES' REPORT YEAR ENDED JUNE 2024

Achievements and performance in 23-24 (and early 24-25) (continued)

On 17 July 2023 Gillian Moore was awarded a high Austrian honour, the Decoration of Honour in Gold for Services to the Republic of Austria, for her support for the Vienna Edition. The (now retired) Austrian ambassador in London, Dr Michael Zimmermann, had proposed the awarding of this honour; the proposal was considered and approved at the highest level of the government of Austria and approved by officials of the United Kingdom and Ireland. The granting of this honour may help raise the profile of the Vienna Edition in Austria and thus contribute to securing a future for the edition.

The Director has resumed work on the two biographical volumes for which much preparatory work has already been done over many years. He has outlined a next phase for the Vienna Edition: publication of Wittgenstein’s revisions to the Big Typescript, to be presented in five volumes.

Operations

Ongoing work of the Trust includes supporting visiting scholars and responding to requests for images and queries related to Wittgenstein’s work from the general public, from other scholars and from publishers and broadcasters.

The Ludwig Wittgenstein Trust is still housed in Andersons Court on a tenancy-at-will basis. Andersons Court is owned by a family trust which the owner of Sala Thong restaurant has now joined. The new shareholders asked the Ludwig Wittgenstein Trust to sign a new tenancy-at-will agreement with slightly altered terms and double the rent; the Director declined. There has been no correspondence on the matter since October 2023.

Financial review and reserves policy

Until 2017-18 the Trust’s main source of income had been the continued funding for the infrastructure of the project from the City of Vienna via the Austrian Academy of Sciences. For several years no funding was received from the City of Vienna. For calendar year 2023 €35,000 was allocated by the City of Vienna to the Ludwig Wittgenstein Trust. The funding was received in two tranches, in August 2023 and January 2024. Further funding from the City of Vienna had not been expected but in fact €15,000 has been allocated for 20242025. Two interest-free loans to the trust made by Gillian Moore were repaid on receipt of the two tranches of funding from the City of Vienna.

The City of Vienna funding does not cover all costs, so the Trust remains dependent on private donations; £28,000 was donated in 2023-24 and £7000 Gift Aid on that sum was received from HMRC.

Office infrastructure and computer maintenance costs the Trust a minimum of £12,000 a year. Editorial and production work on the volumes to be published, and software developments essential for the editorial work, are in addition.

The charity’s reserves policy is that it seeks to maintain unrestricted reserves equal to at least one years’ average expenditure, currently circa £30,000. Expenditure will be very carefully managed, and trustees will monitor balances and forecasts on a monthly basis.

The charity's unrestricted reserves at 30th June 2024 are £29,222.

LUDWIG WITTGENSTEIN TRUST TRUSTEES' REPORT YEAR ENDED JUNE 2024

Plans for 2023-24 and beyond (continued)

The Director has set out plans for continuing the Vienna Edition so that it eventually includes:

All of Wittgenstein’s philosophical writings
The biographical volumes on which much work has already been done
Electronic apparatuses to supplement the printed edition with powerful electronic search and sort tools, including hyperlinks between related remarks, reflecting the multidimensional nature of Wittgenstein's writings. Links would be created between the text and secondary information, as well as annotations by its users.

The editorial project of the Vienna edition is broken down into self-contained stages, each to be finished within three to five years, after which a continuation of the edition can be reevaluated. The first of the stages to come would be the publication of Wittgenstein’s 1932-1934 revisions to the Big Typescript in five volumes.

The Austrian Cultural Attaché Dr Waltraud Dennhard-Herzog has held and is still holding discussions with numerous bodies in Austria seeking funding for the continuation of the Vienna Edition. Meanwhile the Director has outlined a multi-faceted project whose overall theme would be groundbreaking work by twentiethcentury emigres from Austria and Germany into the English-speaking world. At the heart of the project would be the further development of the methods, structures and tools developed for the publication of Wittgenstein’s writings in the Vienna Edition into a new standard methodology for scholarly editions, allowing the creation of interoperable data repositories for long term archiving.

Signed on behalf of the Trustees by

G Moore - Secretary Date: 3 February 2025

LUDWIG WITTGENSTEIN TRUST

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES

I report on the accounts of Ludwig Wittgenstein Trust for the year ended 30 June 2024, which are set out on pages 5 to 10.

RESPONSIBILIITES AND BASIS OF REPORT

As the charity's trustees you are resonsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act").

I report in respect of my examination of the charity's accounts carrie out under section 145 of the Act and in carrying out my examination I have followed all the appliable directions given by the Charity Commission under section 145(5)(b) of the Act.

INDEPENDENT EXAMINER'S STATEMENT

I have complete my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1) Accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2) The accounts do not accord with those records.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper inderstanding of the accounts to be reached.

Stuart Arrandale Chartered Accountant 23-25 Gwydir Street Cambridge CB1 2LG

Independent Examiner

Date: 4th February 2025

LUDWIG WITTGENSTEIN TRUST

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 30 JUNE 2024

Note Income From: Donations and legacies 2 Charitable activities: Editorial and research Investment income Other Total income Expenditure on: Charitable activities: Editorial and research 3 Other Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward 1 July 2023 Total funds carried forward 30 June 2024	2023 Unrestricted Restricted Total Total £ £ £ £ 41,513 - 41,513 57,000 1,454 - 1,454 1,162 - - - - 406 - 406 - 2024
	43,373 - 43,373 58,162
	32,505 - 32,505 45,135 - - -
	32,505 - 32,505 45,135
	10,868 - 10,868 13,027 18,354 400 18,754 5,727 29,222 400 29,622 18,754

All of the above results are derived from continuing activities. The statement of financial activities includes all gains and losses recognised in the year.

LUDWIG WITTGENSTEIN TRUST

BALANCE SHEET

AS AT 30 JUNE 2024

Note FIXED ASSETS 5 CURRENT ASSETS Debtors Prepayments and accrued income Cash at bank Cash in hand LIABILITIES Creditors: amounts falling due within one year Accruals NET CURRENT ASSETS NET ASSETS THE FUNDS OF THE CHARITY: Restricted funds 7 Unrestricted funds 7 TOTAL CHARITY FUNDS	£ £ £ £ 1,064 1,751 1,000 24,250 2,132 1,847 27,787 10,712 139 139 31,058 36,948 (1,560) (19,005) (940) (940) (2,500) (19,945) 28,558 17,003 29,622 18,754 400 400 29,222 18,354 29,622 18,754 2024 2023	£ £ £ £ 1,064 1,751 1,000 24,250 2,132 1,847 27,787 10,712 139 139 31,058 36,948 (1,560) (19,005) (940) (940) (2,500) (19,945) 28,558 17,003 29,622 18,754 400 400 29,222 18,354 29,622 18,754 2024 2023
	400 29,222
		18,754
		18,754

The accounts were approved by the Trustees on 3rd February 2025 and signed by

G Moore - Secretary on behalf of the Trustees

LUDWIG WITTGENSTEIN TRUST

NOTES TO THE ACCOUNTS

YEAR ENDED 30 JUNE 2024

1 ACCOUNTING POLICIES

Basis of accounting

The financial statements have been prepared under the historical cost convention, except for investments, which are included at the market value, and in accordance with FRS 102 "The Financial Reporting Standards Applicable in the UK and Republic of Ireland" and Statement of Recommended Practice "Accounting and Reporting by Charities" FRS 102 (2019).

Statement of cash flows

The charity has taken advantage of the small charity exemption in preparing these financial statements, as permitted by FRS 102 Section 7 and is not required to produce a statement of cash flows.

Going concern

The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future and the charity is well placed to manage its business risks. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts. In arriving at this conclusion the Trustees have considered the potential impact of the current global pandemic known as COVID-19.

Income

All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income, it is probable that the income will be received and the amount can be quantified with reasonable accuracy.

Expenditure

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated to activities on a basis consistent with use of the resources.

Fund accounting

Unrestricted funds are available for use at the discretion of trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

The restricted fund represents income from the British Academy for the support of a visiting scholar.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the Statement of Financial Activities.

Debtors

Debtors are recognised at the settlement after any discounts offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

LUDWIG WITTGENSTEIN TRUST

NOTES TO THE ACOUNTS

YEAR ENDED 30 JUNE 2024

1 ACCOUNTING POLICIES (continued)

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

Staff costs

There are no employees.

Depreciation

Fixtures and fittings are depreciated on a straight line basis over the expected useful life of 10 years. Computer equipment is depreciated on a straight line basis over the expected useful life of 4 years.

Unrestricted Restricted £ £ - - 17,578 - 9,802 - 1,047 - - - 2,432 - 686 - 960 - 2024	2024 £ 28,000 7,000 6,513 41,513 Total £ - 17,578 9,802 1,047 - 2,432 686 960	2023 £ 27,000 6,750 23,250
		57,000
		2023 Total £ - 31,950 10,049 680 105 - 1,371 980
32,505 -	32,505	45,135
	2024 £ 960	2023 £ 980

There were no trustee expenses or remuneration paid in the year.

LUDWIG WITTGENSTEIN TRUST

NOTES TO THE ACOUNTS

YEAR ENDED 30 JUNE 2024

5 FIXED ASSETS COST As at 1 July 2023 Additions in year Disposals in year As at 30 June 2024 ACCUMULATED DEPRECIATION As at 1 July 2023 Charge for the year Disposals in year As at 30 June 2024 NET BOOK VALUE As at 30 June 2024 As at 30 June 2023	Fixtures & Fittings £ 5,627 - - 5,627 4,436 386 - 4,822 805 1,191	Computer Equipment £ 24,076 - - 24,076 23,517 300 - 23,817 259 559	Total £ 29,703 - -
			29,703
			27,953 686 -
			28,639

			1,064

			1,750

6 GRANTS PAYABLE

There were no grants payable in the year.

7 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets Net current assets	Unrestricted Restricted Funds Funds 2024 2024 £ £ 1,064 - 28,158 400 29,222 400	Total Total Funds Funds 2024 2023 £ £ 1,064 3,716 28,558 17,003 29,622 20,719

8 RELATED PARTY TRANSACTIONS

During the year donations of £28,000 were received from the trustees and related parties. There were no amounts outstanding at the year end.

9 KEY MANAGEMENT PERSONNEL

Key management personnel did not receive any remuneration during the year.

LUDWIG WITTGENSTEIN TRUST

NOTES TO THE ACOUNTS

YEAR ENDED 30 JUNE 2024

10 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2023

Income From: Donations and legacies Charitable activities: Editorial and research Investment income Other income Total income Expenditure on: Charitable activities: Editorial and research Total expenditure Net movement in funds	Unrestricted Restricted Total Funds Funds Funds £ £ £ 57,000 - 57,000 1,162 - 1,162 - - - - - - 58,162 - 58,162 45,135 - 45,135 45,135 - 45,135 13,027 - 13,027 2023