Page 23 - Here For You: Our Work in 2014

Balance Sheet Net Assets 2014 3% £23,000 £21,000 15% £11,000 25% £26,000 £11,000 £11,000 £54,000 £47,000 £38,000 £40,000 £65,000 £70,000 57% £99,000 £102,000 £227,000 £224,000 0 50 100 150 200 250 Buildings & Equipment Investments 2013 2014 £ 741,000 £1,665,000 Member Services Working Capital Working Capital £93,000 £ 420,000 The balance sheet, which has been built up over many years, remains strong. The board believe that a strong balance sheet is essential to maintaining the long term viability of the Federation. [This is particularly so as we enter a potentially new phase of development following on from the Independent Review and falling membership]. Investments in shares and bonds are held by professional fund managers and returns are measured against external benchmarks. 23 47905 WMPF Annual Report 2014.indd 23 30/04/2015 12:06