Annual Report and Statement of Accounts 2015/16 Contents About Transport for London (TfL) 4 Message from the Commissioner 120 Statement of Accounts We are the integrated transport authority for London. Our purpose is 8 Year at a glance 272 Annual Governance Statement to keep London moving, working and growing, and to make life in our city better. We reinvest all of our income to run and improve London’s 10 Delivering for London 280 Commissioner and transport services. Managing Directors 12 Operational performance Our operational responsibilities include London Underground, London 282 Members of TfL (2015/16) Buses, Docklands Light Railway (DLR), London Overground, TfL Rail, 16 Keeping London moving, London Trams, London River Services, London Dial-a-Ride, Victoria working and growing 284 Directors of Crossrail Limited Coach Station, Santander Cycles and the Emirates Air Line. (2015/16) 18 Customers: the heart of our business On the roads, we regulate taxis and the private hire trade, run the 286 Membership of TfL committees Congestion Charging scheme, manage the city’s 580km red route 34 Delivery: our plans and our promises and panels (2015/16) network, operate all of the Capital’s 6,300 traffic signals and work to ensure a safe environment for all road users. 54 People: dedicated to customer service 288 TfL Members' meeting attendance (2015/16) We are delivering one of the world’s largest programmes of transport 66 Value: delivering more with less capital investment, which is building the Elizabeth line, modernising Tube 290 Remuneration services and stations, transforming the road network and making it safer, 78 Technology and data: a new especially for more vulnerable road users, such as pedestrians and cyclists. pan-TfL strategy and approach We are a pioneer in integrated ticketing and providing information to 86 Planning for the future help people move around London. Oyster is the world’s most popular smartcard, and the rise in contactless payment is making travel ever more 98 Progress against the Mayor’s convenient. Real-time travel information is provided directly by us and Transport Strategy (MTS) through third party organisations, which use the data we make openly and freely available to power apps and other services. Improving and expanding transport in London is central to driving economic growth, jobs and housing across the country. Reporting on our business Our financial year runs from 1 April to 31 March. This document summarises our achievements over the past financial year, plus some longer-term projects that are under way. Message from the Commissioner As I was appointed Commissioner last We have seen great progress too across our autumn, this is my first Annual Report. other investment programmes, bringing new These documents are by their nature parts of the suburban rail network into our backward looking. I also want to talk about integrated transport service, maintaining the present and look to the future. and modernising our roads and adding new capacity on the London Underground. And Our purpose is to keep London moving, our Night Tube service on Friday and Saturday working and growing and to make life in our nights will come into operation progressively city better. London never stands still. It is over the course of the year. growing at an unprecedented rate, with record numbers of customers and users relying We have created world-class cycling on our public transport and road networks. infrastructure and, as a result, cycling has At the same time, technology is changing never been more popular. A record-breaking the way in which we live, travel and work. 645,000 cycling journeys are made each day, Transport is core to making our city's growth and I look forward to even more Londoners productive, delivering the new jobs, housing taking to two wheels to take advantage of and access required by those we serve. our new facilities. Core service safety and reliability is at the Our relentless focus on reducing, and heart of successful public transport services ultimately eradicating, death and serious and we are serving more people than at injury on the roads has continued. Last year any previous time. The record numbers of we saw a 10 per cent reduction in the most customers during the 2012 London Olympic serious cycling accidents and an 11 per cent and Paralympic Games are now an every reduction in the most serious road traffic day occurrence and we remain focused on accidents involving children. Overall, the delivering for them day in, day out. number of people killed or seriously injured is at the lowest level since records began. Steady and sustained investment is modernising transport. The visit earlier Transport is not an end in itself. It plays a this year of Her Majesty The Queen to vital role in unlocking areas of growth to announce that Crossrail will be named the provide the new jobs and housing that our Elizabeth line in her honour was an important city needs. We are making 300 acres of land milestone towards the opening of a brand available for homes for Londoners with an new railway that will transform journeys initial target of 10,000 new homes over the around our city and make fundamental next few years. improvements to accessibility. 4 Message from the Comissioner Transport for London Annual Report and Statement of Accounts 2015/16 5 Message from the Commissioner Continued The pace of change in technology offers big opportunities. Examples include the Her Majesty the Queen visited the under-construction Crossrail station at Bond remarkable success of payments made Street in February. The new rail service, which will start full operation in 2018, will be named the Elizabeth line in her honour. using contactless bank cards – accounting for around one-third of all 'pay as you go' journeys – and our approaches to open data and use of big data to improve information provision and service planning. We will make even more data available to app developers and other partners, particularly to help relieve congestion on the road network and develop more tools giving predictive information to help people plan journeys. While technology is important, it is people – our customers, users and teams at TfL and our partners – who are at the centre of transport services. We remain committed to having our customer service teams out in the public areas of London Underground stations where they can help passengers most directly alongside a helpful and understanding voice from our contact centre teams. It is an exciting time for London. We have a new Mayor with a remarkable personal mandate from Londoners. He has set out an ambitious programme for change and improvement, including making transport more affordable. I am totally committed to delivering it. Mike Brown MVO Commissioner 6 Message from the Comissioner Transport for London Annual Report and Statement of Accounts 2015/16 7 Year at a glance April 2015 May 2015 June 2015 July 2015 August 2015 September 2015 Overhaul of the Elephant and Our search begins for a new Rail services between Contactless and Oyster Signal modernisation New interactive collision Castle northern roundabout advertising partner, that will Liverpool Street and Shenfield accepted on Southeastern’s work begins on the Circle, map shows when and where begins, returning it to two- generate £1.1bn in revenue. become part of TfL Rail in highspeed service between District, Metropolitan and people have been injured way traffic and making it safer Later awarded to Exterion preparation for the opening St. Pancras International Hammersmith & City lines on the Capital’s roads to for cyclists and pedestrians Media in March of the Elizabeth line and Stratford International to increase capacity raise safety awareness and reliability and reduce casualties October 2015 November 2015 December 2015 January 2016 February 2016 March 2016 We announce our plan to Tube WiFi reaches another Thirteen new tunnels and Proposals launched Announcement that World’s first electric release more than 300 acres 100 stations, bringing the bridges are proposed in plans with the Department for Crossrail is to be known as double-deck bus is unveiled, of land to help create more total to 250, plus Victoria to transform cross-river Transport for the transfer the Elizabeth line, in honour to run on route 98 between than 10,000 new homes Coach Station travel in the Capital of inner London suburban of Her Majesty The Queen Holborn and Willesden across London over the rail services to TfL next decade 8 Year at a glance Transport for London Annual Report and Statement of Accounts 2015/16 9 Delivering for London London's success depends on its transport system. Each year, as well as delivering increasingly reliable services more efficiently, we’re also building new transport infrastructure and planning further improvements to secure the Capital’s future as a world-leading city. Improving service reliability demands constant maintenance of assets to 38km 75km keep them in good order. of footway of carrigeway was resurfaced. In 2015/16: was repaved MIND THE GAP MIND THE GAP MIND THE GAP MIND THE GAP MIND THE GAP 28km of Tube track was renewed 670 lamp posts were 42bus shelters2 replaced were renewed escalators more were were 3 replaced 14 refurbished highway pumping stations were refurbished to improve road 11,486 sets of points and drainage energy efficient LED crossings were renewed 17 street lights were installed 40 on the Tube network 10 Delivering for London Transport for London Annual Report and Statement of Accounts 2015/16