Transport for LondonCash Flow Statements
Skip to navigation| Reconciliation of net cost of services to net cash outflow from revenue activities | Note | Group 2005/06 £m |
Group 2004/05 £m |
Corporation 2005/06 £m |
Corporation 2004/05 £m |
|---|---|---|---|---|---|
| Net cost of services | (1,911.6) | (1,849.2) | (757.1) | (733.1) | |
| Transport revenue grant | 7 | 1,974.6 | 2,121.3 | 1,974.6 | 2,121.3 |
| Other revenue grant | 15.9 | 12.2 | 15.9 | 12.2 | |
| Precept | 20.0 | 25.8 | 20.0 | 25.8 | |
| Grants to subsidiaries to fund revenue | - | - | (1,249.0) | (1,231.9) | |
| Grants to joint venture company | (35.8) | (30.9) | (35.8) | (30.9) | |
| Depreciation (net of release of deferred grants for Group) | 215.4 | 213.8 | 158.0 | 138.5 | |
| Capital financing charges | - | - | 87.6 | 83.7 | |
| (Increase)/decrease in stocks | (0.1) | 0.7 | 0.4 | 0.8 | |
| (Increase)/decrease in debtors | 63.2 | 61.2 | 2.5 |
(0.9) | |
| (Increase)/decrease in amounts due from subsidiary companies | - | - | (27.8) | 6.1 | |
| Increase/(decrease) in creditors due within one year | 121.1 | (30.1) | 56.1 | 3.6 | |
| Increase/(decrease) in creditors due after more than one year | 10.3 | (11.2) | 0.2 | 1.3 | |
| Increase/(decrease) in provisions for liabilities and charges | 58.7 | 110.3 | 25.2 | 42.6 | |
| Increase/(decrease) in pension and post-retirement liabilities | (20.0) | (29.4) | (0.3) | 0.6 | |
| Net cash inflow from revenue activities | 511.7 | 594.5 | 270.5 | 439.7 | |
|
Returns on investments and servicing of finance |
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| Finance lease charges | (102.0) | (61.6) | - | - | |
| Interest paid | (10.1) | (4.1) | (10.1) | (2.9) | |
| Interest received and investment income | 59.8 | 45.0 | 56.5 | 42.2 | |
| (52.3) | (20.7) | 46.4 | 39.3 | ||
|
Capital activities |
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| Transport capital grant | 7 | 205.8 | 138.8 | 205.8 | 138.8 |
| Third-party contributions and other grant funding | 142.3 | 88.7 | 7.1 | 5.7 | |
| Grants to subsidiaries and JV for capital expenditures | - | - | (205.8) | (103.3) | |
| Payments to acquire tangible fixed assets | (711.7) | (385.3) | (276.8) | (150.3) | |
| Receipts from sale of tangible fixed assets | 11.5 | 17.0 | 1.0 | 4.9 | |
| (352.1) | (140.8) | (268.7) | (104.2) | ||
| Net cash inflow before financing | 107.3 | 433.0 | 48.2 | 374.8 | |
|
Management of liquid resources |
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| Increase in short-term investments | (336.6) | (473.9) | (332.5) | (468.2) | |
|
Financing |
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| Capital element of finance lease payments | (321.0) | (187.9) | - | - | |
| Deferred income received in year | - | 35.0 | - | - | |
| Increase in loans to subsidiary companies | - | - | (270.6) | (96.0) | |
| Increase in borrowings due after more than one year | 550.3 | 195.6 | 550.3 | 195.6 | |
| 229.3 | 42.7 | 279.7 | 99.6 | ||
| (Decrease)/increase in cash | - | 1.8 | (4.6) | 6.2 |
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Notes to the cash flow statements
a) Cash flow statements: reconciliation with the accounts
| Capital expenditure | Group 2005/06 £m |
Group 2004/05 £m |
Corporation 2005/06 £m |
Corporation 2004/05 £m |
|---|---|---|---|---|
| Additions to fixed assets | (1,784.9) | (1,157.4) | (278.5) | (160.8) |
| (Increase)/decrease in debtors | 1.0 | (0.4) | 1.5 | (3.3) |
| Increase/(decrease) in creditors due within one year | 46.4 | 69.8 | 8.5 | 23.0 |
| Increase/(decrease) in creditors due after one year | (3.9) | 0.1 | (3.9) | 0.1 |
| Additions under finance lease arrangements | 1,034.8 | 712.1 | - | - |
| Increase/(decrease) in provisions | (5.1) | (9.5) | (4.4) | (9.3) |
| Capital expenditure per cash flow statement | (711.7) | (385.3) | (267.8) | (150.3) |
| Contributions from third parties for capital expenditure | Group 2005/06 £m |
Group 2004/05 £m |
Corporation 2005/06 £m |
Corporation 2004/05 £m |
|---|---|---|---|---|
| Third-party contributions and other grant funding | 157.5 | 102.6 | 7.1 | 5.7 |
| (Increase)/decrease in debtors | (15.2) | (13.9) | - | - |
| Contributions from third parties per cash flow statement | 142.3 | 88.7 | 7.1 | 5.7 |
b) Analysis of change in net debt
| Note | At 1 April 2005 £m |
Movement £m |
At 31 March 2006 £m | |
|---|---|---|---|---|
| Group | ||||
|
Cash at bank and in hand |
15 | 24.0 | - | 24.0 |
| Investments | 19b | 1,326.5 | 336.6 | 1,663.1 |
|
Borrowings due after more than one year |
19b | (195.6) | (550.3) | (745.9) |
|
Finance lease obligations |
19b | (1,078.5) | (715.8) | (1,794.3) |
|
Total of net funds/(debt) |
76.4 | (929.5) | (853.1) | |
|
Corporation |
||||
|
Cash at bank and in hand |
15 | 8.1 | (4.6) | 3.5 |
|
Investments |
1,300.4 | 332.5 | 1,632.9 | |
|
Borrowings due after more than one year |
19b | (195.6) | (550.3) | (745.9) |
| Total of net funds/(debt) | 1,112.9 | (222.4) | 890.5 |
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