Transport for LondonTfL Group balance sheet
Skip to navigationNet assets increased by £247m between 31 March2005 and 31 March 2006, largely due to actuarial gains on the TfL Pension Fund (described in more detail on page 84 and 85) and revaluation of non-operational properties.
Fixed assets increased significantly, reflecting the record levels of capital expenditure during the year. As explained further below, £1,035m of fixed assets were provided under either the PPP contracts or the Docklands Light Railway City Airport Extension PFI. This resulted in an increase in finance lease creditors over one year, included in the 'other liabilities' category.
| TfL Group balance sheet(£m) | 31 March 2006 | 31 March 2005 |
|---|---|---|
| Fixed assets | 14,072 | 12,836 |
| Net current assets | 294 | 236 |
| Borrowings | (746) | (196) |
| Other liabilities more than one year | (1,528) | (854) |
| Deferred capital grant | (6,695) | (6,681) |
| Pension liabilities | (770) | (961) |
| Total net assets | 4,627 | 4,380 |
| General fund | 148 | 151 |
| Earmarked reserves | 1,199 | 973 |
| Other reserves | 3,280 | 3,256 |
| Total capital employed | 4,627 | 4,380 |
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