Ltm yearbook 2012 13

London Transport Museum Covent Garden Piazza London WC2E 7BB Tel +44 (0)20 7379 6344 London Transport Museum Ltd Charity number 1123122 Company number 6495761 Registered address: Windsor House 42–50 Victoria Street London SW1H 0TL

Supported by

London Transport Museum Yearbook 2012 | 2013

London Transport Museum (Trading) Ltd Company number 6527755 Registered address: Windsor House 42–50 Victoria Street London SW1H 0TL

Yearbook 2012 | 2013

Design by LTM Design Compiled by Chris Gilbert Editor Mark Kilfoyle All images Š London Transport Museum and Transport for London, except where noted.

Front cover: Met locomotive No.1 at Farringdon, January 2013 (photo by Jack Hawkins).

Opposite: Steam returns as part of the 150th anniversary of the Underground (photo by Alan Price for Firstscene Images).

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Yearbook 2012 | 2013

Š London Transport Museum 2013

London Transport Museum is an educational and heritage preservation charity. Its purpose is to conserve and explain the history of London’s transport, to offer people an understanding of the Capital’s past development and to engage them in the debate about its future.

London Transport Museum Yearbook 2012 |13 incorporating the Annual Report of the Trustees and financial statements for the year ended 31 March 2013 02

| Message from the Chair of Trustees and Managing Director

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| How the Tube shaped London*

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| The year in summary

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| Access and museum operations

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| Education and engagement

22

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| Heritage and collections

28

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| Plans for the future

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| Thought Leadership*

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| London Overground: what’s next? by Mike Brown

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| C able theft: is regulation of the scrap metal industry the solution?

by Paul Crowther

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| Road pricing: the economic silver bullet? by Sam Mullins

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| I t’s transport that will carry us down the road to recovery

by Boris Johnson

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| Income and support

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| Corporate members

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| Sponsors and donors

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| Public programme

56

| History of the Museum

58

| Structure, governance and management

62

| Financial review

64

| Trustees’ statement

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| Trustees and advisors

66

| Independent auditor’s report

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| Financial statements

Case study

Steaming ahead – Making Tube 150 happen

by Andy Barr* Case study

An inspiring generation – Young Consultants and ‘Mind the Map’ by Steve Gardam* Case study

A colourful past and a bright future – Restoring Carriage 353 by Tim Shields*

* Case studies and Thought Leadership articles do not form part of the audited Report of the Trustees.

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Yearbook 2012 |2013

Message from the Chair of Trustees and Managing Director Sir David Bell, Chair of Trustees Sam Mullins, Managing Director

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Marking 150 years since the opening of the world’s first underground railway line demanded something significant.

Bringing passenger steam trains back to the Underground for the first time since 1905 made headlines around the world. This momentous achievement was accomplished through the dedication and tenacity of Museum staff, our colleagues at Transport for London (TfL), and the support of our volunteers, donors and corporate sponsors – particularly Cubic, Siemens and CBS Outdoor.

story of the Underground map from its Victorian origins to today’s worldfamous design. The exhibition showed how artists have created illustrated maps that go beyond the mere geography of London to reveal history, myth and a sense of place and identity.

Alongside the densely illustrated 1920s maps of MacDonald ‘Max’ Gill, we displayed newly commissioned works by contemporary artists. Simon Patterson presented a ‘sequel’ to his well-known work The Great Bear, while Helen Scalway’s Travelling Blind asked passengers to draw the Tube map from memory. Jonathan Parsons teased the lines and stations into a threedimensional nervous system in Zoned Out, and Jeremy Wood’s My Ghost tracked his own Tube journeys over nine years. Claire Brewster created a fragile lattice-like sculpture from pocket Tube maps, and Susan Stockwell sewed the map onto rice paper while homesick in Taiwan.

London Subterranea by Stephen Walter combined fact, fiction, forgotten histories and urban legends to produce an intense map of the teeming underbelly of London.

With such an impact made by Tube 150, it is easy to forget we had a full programme of other events all year long. Mind the Map: inspiring art, design and cartography presented the

In this Yearbook are details about all our activities and exhibitions alongside our charity Trustees’ report and accounts for 2012/13, and articles drawn from our Thought Leadership programme.

e are proud to present the fifth London Transport Museum (LTM) Yearbook which commemorates the 150th anniversary of the world’s first underground railway.

For the Museum, 2012/13 was very much about London Underground.

We began with a major exhibition on mapping the Tube, continued with the publication of a new social history of the Underground and concluded with major celebrations for the start of the Tube 150 anniversary year.

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Message from the Chair of Trustees and Managing Director

Yearbook 2012 |2013

Chairman Sir David Bell (right) and Managing Director Sam Mullins in the restored steam locomotive Met No.1.

We have accomplished much this year against a difficult economic background: building on TfL’s funding, we secured invaluable strategic support from Arts Council England (ACE), and further project funding from the Heritage Lottery Fund (HLF), and we significantly increased our trading and corporate income. Most importantly, we welcomed over 326,000 visitors to Covent Garden and Acton, 12% more than the previous year and the highest number for any financial year to date.

expertise and wisdom of our fellow Trustees, the hard work and creativity of an excellent staff and over 150 volunteers, and the enthusiasm and support of the LTM Friends. Together we have created a remarkable year in the life of one of London’s busiest and best museums, and marked with style a major anniversary for the world’s oldest underground system.

We appreciate the patronage of our visitors, shoppers and corporate supporters. We are grateful for the Message from the Chair of Trustees and Managing Director Add chapter head

Yearbook Year book 2012 2012/13 |2013

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How the Tube shaped London Since its inception 150 years ago, the Underground has influenced the geography, economy, and character of the Capital.

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he world’s first underground railway was proposed in the 1850s as a means of connecting London’s mainline railway stations, which were then restricted to the edges of the Capital.

Victorian London was growing quickly and its streets were grinding to a halt under the weight of horse-drawn and pedestrian traffic. The radical solution was to put a railway beneath the roads in a series of tunnels and cuttings.

The first section of the Metropolitan Railway, from Paddington to Farringdon, was an instant success, carrying 26,000 passengers daily from January 1863. A series of extensions and the founding of the District Railway brought the Underground to the western suburbs and saw the completion of the Circle line in 1884.

By the turn of the century, the growth of London demanded a second and more radical transport solution. Applying new technologies in tunnelling, lifts and electric traction made it possible to move beyond steam trains and create the world’s first electric-powered deep tube railway to keep the centre of the Capital moving beneath its busy streets. Edwardian London had most of the features of a modern metro: several Tube lines, station buildings and platforms tiled to a common design, an Underground brand and map, pictorial posters and integrated rail, bus and tram services.

As London’s population grew between the wars, London’s suburban railways and the surface extensions to the original Underground lines stimulated suburban growth. London spread outwards and the growing Underground connected new

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How the Tube shaped London

Yearbook 2012 |2013

Opposite: Detail from Underground pocket map, c1932.

Above: Aldgate terminus from the Illustrated London News, 2 Dec 1876, showing a street level station and canopied platforms in an open cutting.

Left: Tube workers laying track on the Northern line, 1938.

suburbs with the shopper’s West End and the banker’s City. Under Frank Pick’s visionary leadership in the 1920s and 30s, the Underground embraced Charles Holden’s modernist station designs, built London’s tallest building as its HQ at 55 Broadway, commissioned a series of outstanding poster designs, and adopted Harry Beck’s cartographic masterpiece, the diagrammatical Tube map.

When the city is under its greatest stress, the true worth of its transport becomes clear. During the dark days of 1940–41, with London under attack every night for months, the Tube stations provided refuge for its beleaguered citizens. The camaraderie of the Blitz has formed a significant part of Londoners’ history ever since.

How the Tube shaped London

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The running of the first buses, trams and trains across a battered and burnt city in the morning after an air-raid was a matter of pride to London Transport staff and a hugely symbolic act for Londoners. On 7 July 2005, with the city again under attack, this time from terrorists, the resumption of transport services later the same day was once more of huge significance, a strong palliative after such a terrible shock.

Above: ‘Brightest London’, poster

by Horace Taylor 1924.

Right: Mock-up for Clapham South station entrance by Charles Holden, 1926.

Below: Tube shelterers at Aldwych station, 1940-41.

Since the Second World War, decisions about major public transport projects in London have been characterised by delay and uncertainty. While the major works of the 1930s had balanced new lines with maintaining the existing system, the Victoria and Jubilee lines were only approved after long struggles in the politically charged era of the 1960s and 70s – and at the expense of the rest of the network. Public transport investment has a scale of expenditure and a horizon for the payback of political, social or economic benefits so long after the next election, that major projects are proposed, debated, buffeted, stopped and restarted.

Transport is a political issue and it is only with the consistent importance of transport to an elected London mayor that a consensus on long-term investment is being achieved.

Transport is the Mayor’s largest single responsibility: it takes up most mayoral expenditure and will always be front page news. The transport strategy for the London Olympics was a crucial element in securing and delivering the ‘public transport Games’ in 2012. But it is unlikely that anything more than minor extensions to existing Tube lines will ever be built beneath the streets of London. Tubes are small – a maximum

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Add How chapter the Tubehead shaped London

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of 12 feet in diameter – and cannot carry the numbers needed in future. The unique tiled stations of the Victorian era, once served by three-car trains, are today packed to capacity with an intense day-long service of seven- or eightcar trains. Today 1.2 billion journeys a year, up to 3.5 million a day, are made on the Underground alone – but the future will be on an even grander scale.

Crossrail is being built to mainline railway specifications with a tunnel diameter of over 20 feet and is currently Europe’s biggest infrastructure project.

At Farringdon – the City of London terminus where the celebratory opening banquet for the Underground was held in January 1863 – Crossrail will create a major transport hub which will be used by up to 150,000 passengers a day. The original station structure from the 1860s and the 1920s booking hall will remain, carefully renovated and repurposed for tomorrow’s heavy use in a way its original proponents could never have envisaged. The Capital’s earliest terminus is about to become a key enabler of its future.

The story of the Underground’s first 150 years is like the silver thread running through a banknote: always there, largely taken for granted but essential to its value. As one commentator, George Dodd, noted in 1866: ‘the darkness in the tunnels, the heat of the gaslighted carriages in summer time, the sulphurous odour down in the stations, the fear of unknown and indefinite dangers – all give place to the great fact that the railway renders services which cannot be rendered by any other agency.’ As the Museum’s exhibits, displays and events show so vividly, the Underground has indeed played a key

role in shaping London by serving the changing needs of its citizens. It remains the lifeblood of London today and the lesson of the past 150 years is that well planned, consistent investment in the upkeep and capacity of the system will ensure that the Underground is of fundamental importance to the city’s tomorrows.

Artist’s impression of the future Farringdon station for Crossrail.

This article is adapted from the introduction to Underground: How the Tube Shaped London

by David Bownes, Oliver Green and Sam Mullins, published by Penguin Books.

How the Tube shaped London Add chapter head

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A strong visual identity was establised for Tube 150. Images like these, representing the past, present and future of the Underground, appeared on the platform at Moorgate during the anniversary steam runs. They were also used on car cards inside the new S7 rolling stock and at Baker Street during the Queen’s visit in March 2013.

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2012/13 was a very busy year for LTM, with a full exhibitions and events programme, and the Tube 150 celebrations.

We delivered major changes to the galleries, completed two large-scale restoration projects, helped bring steam trains back to the London Underground, and saw a significant increase in visitors and retail sales.

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ast year LTM established strategic priorities for 2012/13, which focussed on financial sustainability and delivering excellent service. In support of these priorities we set out four key objectives. Although we did not achieve everything we hoped to, we made significant progress against all of these aims:

Actual Target

Museum and Depot visits

275,000

Actual Target

Visits to Museum websites

The year in summary

Yearbook 2012 |2013

3. Invest in the galleries and visitor facilities.

Major works at Covent Garden this year included a new reception, dedicated schools welcome area, and much improved public toilet and baby-change facilities. In the galleries we doubled the size of our climate-conditioned art exhibition space and created a new area for family activities and accessing the handling collections. The Futures gallery is displaying Future Scrapbook as part of our ongoing collaboration with the Royal College of Art, and additional interpretation has been added to the permanent galleries to support the Tube 150 anniversary.

Actual Target

Pupils seen by the Safety and Citizenship programme

11 ,02 6

110,0 00

Actual Target

Education visitors to LTM

4,4 21

0 22,50

Actual Target

Number of Collection records enhanced

0,0 00

6

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,18 0,1 76

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The Museum shop increased turnover by 17% this year.

2. D evelop the trading business and strengthen the commercial business model.

Investment in retail saw new shop fittings, an improved café and the expansion of the retail presence into the Museum’s foyer, making for a more welcoming experience for shoppers.

New window displays at the front and rear of the Museum, and renewed signage in Covent Garden piazza have been designed to improve footfall.

In support of Tube 150, new products and improvements to merchandising delivered above-target income growth.

Webshop marketing initiatives increased online sales, and half of all Corporate Members are now at ‘Leader’ level – the highest level of membership.

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32 6,3 16

We reviewed contract costs and retendering is underway for security and cleaning. We are consulting with staff and trade unions on proposed changes to the organisational structure.

4. Renew our approach to the visitor experience and develop the customer relationship management (CRM) system.

As the Museum’s Chief Operating Officer left during the year to take up a position with the National Trust, planned visitor experience work was put on hold. The CRM system, however, was fully implemented during the year and has already made a considerable impact on the Museum’s fundraising.

The system has created more efficient processes and improved our relationships with both longstanding and new supporters.

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1. R eview efficiencies and secure plural sources of funding.

With help from ACE we were able to expand our fundraising team and secure significant sponsorship for Tube 150, the programme marking 150 years of London’s Underground. The success of the locomotive and carriage restoration projects enabled us to make another substantial – and successful – bid to the HLF to support our plans to restore a B-type bus in time for the centenary of the First World War. Our excellent relationship with ACE saw them commission us to deliver additional

activities during the year and they went on to award us a further two years of support for 2013/14 and 2014/15.

30 ,91 0

The year in summary

900,000 The year in summary

Yearbook 2012 |2013

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he Museum had a very successful year – with recordbreaking visitor numbers, a huge increase in web traffic and an extremely popular events programme.

Our three temporary exhibitions at Covent Garden were very well received by visitors. Secret London, presented in partnership with the Association of Illustrators and Serco, displayed the 50 shortlisted submissions from The 2012 Serco Prize for Illustration.

Our summer exhibition, Mind the Map: inspiring art, design and cartography drew on the Museum’s outstanding collection of geographical, diagrammatic and decorative transport maps, including Harry Beck’s original Tube map design. The exhibition considered the influence the London Tube map has had on cartography, art, publicity and the public imagination.

It broke new ground for the Museum by including specially commissioned artworks by leading contemporary artists. Mind the Map was launched at a highly successful evening preview.

DJs, artists and authors transformed the galleries into a performance space and attracted a new, appreciative audience to the Museum. The exhibition was accompanied by a popular programme of talks and events including a symposium with artists Simon Patterson, Jeremy Wood and Susan Stockwell on the art of maps, and Robert Elms, Will Self and Stephen Walter in conversation about subterranean London.

Access and museum operations Our collections are accessible on a daily basis at the Museum in Covent Garden, and at the Depot in Acton which opens regularly for events and tours. Extensive online resources make the collection available 24 hours a day and we run a rich programme of talks, events and other activities alongside our annual schedule of new exhibitions.

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Access and museum operations

Yearbook 2012 |2013

Visitors at the opening of Mind the Map.

In preparation for our major Tube 150 exhibition, Poster Art 150: London Underground’s Greatest Designs, we doubled the size of our special exhibition space. Launched at a special late-night preview in February, the

exhibition showcases 150 of the best Underground posters ever produced, selected from the Museum’s archive of over 3300. Time Out called it ‘one of the most eye-grabbing shows of the year’. Visitors can vote for their favourite poster in the gallery and online in the Siemens Poster Vote, with the most popular poster to be revealed at the end of the exhibition in October 2013. Alongside the main exhibition, 20 posters from a Royal College of Art competition called Designing for the Future – 2063 were displayed in the Museum’s Poster Parade in March 2013.

This imaginative display was made up of poster designs for the Underground’s bicentenary in 50 years’ time.

The 150th anniversary of the world’s first underground railway generated huge interest and we saw a substantial increase in visitor numbers at the start of 2013. Events included talks by the authors of our landmark publication Underground: How the Tube Shaped London, as well as panel discussions and family workshops. Most notable of all the anniversary events was the return of steam trains to the London Underground. After more than three years’ meticulous preparation with London Underground, Buckinghamshire Railway Centre and other partners, this was one of the most significant public events ever undertaken by LTM. Over two weekends in January, as crowds cheered from the platforms of the District and Circle line stations, 2000 people rode our heritage trains.

At Moorgate, where the trips began, a graphic and a video installation told the story of the Underground using material from the Museum’s archive, and a new S-stock train was on hand in a special livery demonstrating how far the Underground has developed since 1863.

Access and museum operations

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The Underground’s trains travel around 43 million miles each year. The equivalent of 90 trips to the moon and back.

Regular behind-the-scenes tours of the Museum Depot in Acton took place throughout the year, and in October 2012 we ran the Acton Family Open Weekend with help from the London Vintage Taxi Association (LVTA).

Alongside their impressive display of vehicles, the LVTA gave visitors the chance to take part in ‘The Knowledge’ quiz and test their skills as a cabbie behind the wheel of a modern-day TX4 black cab.

In December 2012 we ran a sold-out series of tours of Aldwych station, which has been closed to the public since 1994. Volunteers answered questions about the history of the station and the TfL Choir entertained visitors with a selection of Christmas carols and Victorian music hall songs.

The Museum continues to embrace social media and user-generated content, both online and in the galleries.

The ‘Flickr Wall’ features six digital screens showcasing images from LTM’s photostream and the results of projects undertaken with external parties. This year’s content included From the Upper Deck, a photography project

by Przemek Wajerowicz; Capturing the Capital, a Sustrans photography competition; and a collaboration between LTM and the Londonist website entitled Away from it All.

Above: The Museum Depot in Acton.

Left: Detail from London Subterranea by Stephen Walter, commissioned

by LTM for the Mind the Map exhibition.

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Access and museum operations

Yearbook 2012 |2013

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Case study

engineers, safety professionals, train staff and others from LU worked with the Office of the Rail Regulator (ORR) and the London Fire Brigade (LFB) to establish how the train could run safely and securely.

Steaming ahead: Making Tube 150 happen

The second question was which train to use. The preferred option was the appropriately named Metropolitan No.1 owned by Buckinghamshire Railway Centre. Built in 1898, Met No.1 was in need of some TLC if it was to operate for the 150th anniversary. In 2011, LTM began a major fundraising campaign and engaged an experienced railway workshop to overhaul the locomotive to the highest standards.

By Andy Barr, Heritage Operations Manager

The triumphant return of passenger steam trains to the London Underground this year was the culmination of fantastic teamwork between Museum and railway staff, external specialists, volunteers, sponsors and supporters.

Special trains require special carriages.

With the help of the Heritage Lottery Fund, the Museum undertook a substantial restoration of Metropolitan Railway Carriage 353, a derelict 1892 first-class coach. Brought back to life in a spectacular fashion, Met 353 was joined by four wooden Metropolitan Railway carriages from the Bluebell Railway and LTM’s 1896 Milk Van, which proved useful as a support coach for the footplate crew. LU’s 1923 Metropolitan Vickers Electric Locomotive No.12 (Sarah Siddons) brought up the rear.

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our years ago, LTM and London Underground (LU) put forward an ambitious idea to commemorate the 150th anniversary of the Underground – recreate the inaugural 1863 journey from Paddington to Farringdon using a genuine Victorian steam train.

Having thrown down the gauntlet, we had to answer a number of questions.

First, could it be done? Modern railways rely on systems the Victorians could not imagine. What impact would a steam train have on today’s Underground network? Museum curators, heritage railway experts, professional engineers and LU managers put their heads together to puzzle it out.

Key technical issues had to be overcome. Locomotive and carriages had to be certified to run on LU’s lines, volunteer drivers trained to current standards, and we had to make sure steam power could operate in an environment equipped with modern fire safety systems. Asset performance

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Steaming ahead: Making Tube 150 happen

Yearbook 2012 |2013

Met No.1 on a late night test at Baker Street. Full livery was applied only a few days before the first anniversary run in January 2013.

Practical testing was essential. In the early hours of 26 February 2012, when the Underground network was shut down and the power turned off, the first trial began. With Met No.1 and Met 353 undergoing restoration, a borrowed steam train chugged cautiously from West Kensington to Baker Street. Every inch of its journey was scrutinised by the experienced eyes of ORR, LFB and LU personnel. At Baker Street the loco vented steam as heat and smoke levels in the station were tested. Modern trains ran alongside the steam engine to assess the effect on passing services.

Further out-of-hours testing gave more

assurance and allowed sponsors, major donors and stakeholders a chance to see what was in store when the trains would run ‘for real’ in 2013.

With the technical barriers overcome, attention turned to other matters: integrating special steam trains into the intensive Underground timetable; event planning, crowd control and security; ticket pricing and ballot arrangements; dressing the platforms; and dealing with enquiries from the media and the public. LU’s operating departments, rail trade unions, TfL Press Office and British Transport Police all played a part in preparing for the anniversary runs.

The days chosen for the celebrations were 13 and 20 January 2013. Tickets sold out very quickly. Heavy snow threatened to disrupt the second day but the robust Victorian technology proved resilient and the runs went ahead with only minor adjustments.

A wonderful start to a year celebrating London’s Tube, the sights, sounds and smells of these commemorative steam runs fascinated the public. Passengers felt the thrill of recreating early railway journeys while spectators broke into spontaneous applause on the platforms. Media interest from around the world was huge. Further events are planned in 2013 to make full use of the remarkable vehicles that have made Tube 150 such a success.

Andy Barr’s career spans 47 years during which he has held a number of senior positions at London Underground. As Heritage Operations Manager, he liaises between LTM and LU to create opportunities for running historic Museum vehicles on the Underground network.

Steaming ahead: Making Tube 150 happen

Yearbook 2012 |2013

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Education and engagement

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he ‘Transportorium’ is LTM’s new learning facility, where visitors can access the collection. Created in 2012/13 with the support of the DCMS/Wolfson Museums and Galleries Improvement Fund and sponsorship from Siemens, the Transportorium operates as a standalone education room, or opens up as part of the main gallery. It will be an invaluable asset in the delivery of school and family activities.

LTM encourages people to engage with the past, present and future of London’s transport.

We offer learning opportunities, skills development and engaging programming to a wide variety of audiences at the Museum in Covent Garden, the Depot in Acton and through a range of outreach activities across London.

Our programming for schools underwent major redevelopment in 2012/13.

Popular sessions were updated and new Key Stage 2 activities created, with generous support from the Luke Rees-Pulley Charitable Trust, Steel Charitable Trust and Capital & Counties.

Despite some disruption during the building works, schools activity continued as normal and we had another successful year of educational visits along with popular craft and storytelling sessions for families at weekends and school holidays.

Now in its eighth year, the TfL Safety and Citizenship (S&C) programme, delivered

by LTM, has worked with over half a million primary schoolchildren in the Capital since its inception. The S&C team also engage with secondary school pupils in locations where issues have been identified by transport agencies or the police. By the end of the school year, the programme reached 94% of primary schools in Greater London and delivered further sessions to 30,000 secondary schoolchildren. Significant strides were made in engaging with faith schools and hard-to-reach communities. The aim is to get as close as possible to reaching

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Education and engagement

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Creative holiday activity session at the Museum (photo LTM Flickr)

100% of London’s Year 6 children every year. New learning kit, a revamped website for teachers, and even a double deck bus were all added to the team’s resources this year.

The Inspire engineering programme, funded by the Luke Rees-Pulley Charitable Trust, promotes careers in engineering by connecting young people with transport engineers and real life engineering challenges. Our staff deliver practical sessions at Acton Depot, supported by TfL Engineering Ambassadors. A new activity, ‘Send the Right Signals’, lets anyone aged five or above try their hand at signal engineering.

The library and information team played a vital role in providing research for LTM publications and exhibitions, TfL press enquiries and Tube 150 product development. The team responded to almost 8000 public enquiries. A major collaboration with TfL Corporate Archives to digitise our extensive collection of staff magazines began this year. The earliest magazines (1914 –22) have been completed and

The shortest distance between Tube stations is from Leicester Square to Covent Garden at only 850ft.

Education and engagement

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Tuesday 7 August 2012 was the busiest day in the Tube’s history with 4.57 million passengers.

will provide a wealth of material for our anniversary project to commemorate the contribution of transport staff during the First World War.

Top: Depot access to online collections.

Above: Young consultants perform at the opening of Mind the Map. (photo LTM Flickr) Right: Working with St Mungo’s in the ‘Padded Cell’ carriage. (photo LTM Flickr) Opposite: Staff magazines, digitised for preservation and access.

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Education and engagement

Yearbook 2012 | 2013

Building on last year’s success, the Happy Museum Project saw volunteers from the pilot stage mentor new recruits from the homeless charity St Mungo’s.

Funded by the Paul Hamlyn Foundation, this project gives participants a chance to learn new skills and get hands-on experience of conservation, library cataloguing and other museum activities.

In return LTM forges new relationships, expands its volunteer base and develops new ideas for the handling collection.

Sixty-seven participants increased their employment skills in our Route into Work sessions, which support employers looking to offer apprenticeships in the transport sector. We worked with the long-term unemployed including ex-offenders,

lone parents and people with disabilities: 46% of participants found jobs, with 81% still in post after 13 weeks.

With support from ACE, our Young Consultants played a major part in the exhibition Mind the Map, curating Poster Parades and producing an interactive ‘emotional map’ of London.

This year, our original group of Young Consultants became Young Advisors.

They recruited and mentored four new Young Consultants who went on to create films celebrating Tube 150 and win Bronze Arts Awards as part of the national framework for recognising arts awareness and practice. With funding from ACE we were able to work with Orleans House Gallery to provide Arts Award Advisor training to increase the use of this scheme in London museums.

Further ACE funding enabled our Young Advisors to work with Gunnersbury Park Museum to recruit ten young volunteers of their own.

Education and engagement

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Case study

An inspiring generation – Young Consultants and Mind the Map

Left: The entrance to the Mind the Map exhibition.

Above: Visitors examine historic maps from the LTM collection.

Below: Helen Scallwell’s ‘Travelling Blind’ artwork.

By Steve Gardam, Head of Live Programmes

Take classic design. Add contemporary art. Mix with youthful energy. Result: LTM’s contribution to the Cultural Olympiad, and a lasting legacy.

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ur summer exhibition Mind the Map: inspiring art, design and cartography revealed how transport maps have shaped our perception of London and influenced art and artists over the past century. The display was, in many ways, uncharted territory for LTM. Generous funding from ACE – as part of the Stories of the World Cultural Olympiad – enabled us to commission contemporary artworks for the first time. An equally radical departure was to give significant responsibility for the exhibition and programme to a group of young people who were not curators, designers or with any formal training in museums… and who made all the difference.

Mind the Map was constructed from three key elements. The first was LTM’s unique collection of transport maps. Among many fine examples,

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the exhibition looked in depth at the influential work of MacDonald ‘Max’ Gill whose decorative maps drew on the transport network to create a sense of place in London. The next element was contemporary art.

Harry Beck’s unmistakable Tube map has inspired many artists since it was issued in 1933, most famously Simon Patterson whose 1992 artwork The Great Bear replaced the names of stations with philosophers, film stars and footballers. One of the exhibition’s new commissions was Saptarishi (the Hindu name for Ursa Major), Patterson’s updating of his earlier work.

We also collaborated with Art on the Underground to film interviews with artists who have produced pocket Tube map covers, including Mark Wallinger, David Shrigley and Tracey Emin.

Millions of people pick up pocket maps every year, making the covers some of the most seen artworks in the world.

An inspiring generation – Young Consultants and Mind the Map

Yearbook 2012 |2013

with a variety of Museum projects.

They worked with other young volunteers to create family activities, supported youth arts and community reinterpretation projects, and ran their own public events. In total, more than 400 young people participated in the Stories of the World programme at the Museum between 2010 and 2012.

The third key element was participation. Our team of Young Consultants, recruited in 2010 under the Stories of the World programme, influenced every aspect of this exhibition. They ran focus groups with other young people; gathered feedback that helped us commission London Subterranea, a new work by artist Stephen Walter; and devised the concept for the digital interactive ‘Emotional Tube Map’. For our staff, working so closely with young people was, according to one, ‘a breath of fresh air in terms of how we approach and deliver our activities’. We opened ourselves up more than ever before to new perspectives.

Over three years, the core of eight Young Consultants was involved not just with the exhibition, but

LTM has now approved a new Young People’s strategy, so more young people will soon be working alongside us. Staff have come to see them as resourceful colleagues and collaborators. The process of creating Mind the Map was itself a map of how profitable such collaboration can be, showing the relationship between collections, art and participation, and how they lead to an exciting future.

Steve Gardam managed the Stories of the World youth participation initiative for LTM. He is a vocal advocate for museums working with their audiences and developing new ideas for participation.

An inspiring generation – Young Consultants and Mind the Map

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Heritage and collections LTM cares for 450,000 items, preserving, researching and acquiring objects to use in our galleries, exhibitions and other activities, including heritage vehicle operations.

The collections are an invaluable resource for the study of transport, industrial design and the social, urban and economic history of London.

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t the heart of the celebrations marking the 150th anniversary of the London Underground were two major conservation projects – the restoration of the Museum’s 1892 ‘Jubilee’ carriage, Met 353, and the overhaul of Met No.1, the last locomotive to be built by the Metropolitan Railway in 1898. A wide range of experts ensured that Met 353 was accurately restored as a Victorian first-class Underground carriage, with luxurious, hand-crafted fixtures and fittings based on surviving features and historic documents. The Met No.1 locomotive was stripped down and rebuilt to the highest standards by experienced railway engineers.

Proposing to operate a steam train and Victorian rail carriages on today’s Underground was a daring suggestion.

It required long-term planning, detailed specification, rigorous engineering and comprehensive testing. The results met with great acclaim when the vehicles were seen in action between Olympia and Moorgate in January 2013.

LTM’s well-loved poster collection saw a great deal of activity in 2012/13.

Poster Art 150 exhibited 150 of

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London Underground’s best posters chosen by a panel of artists, curators and academics, while 100 additional posters appeared in the Poster Parade in a series of themed displays. As part of LTM’s contribution to the London 2012 Olympic and Paralympic Games, we showcased the history of London’s sporting life and its relationship with public transport in the Poster Parade exhibition, Creating the Olympic Spirit.

TfL’s success in managing the ‘public transport Games’ was marked by an exhibition entitled Getting Ahead of the Games which showed how the art of managing travel demand, so important in 2012, had strong historical precedents. In response to the importance of transport to the experience of the Games, our curators collected contemporary material from staff, passengers and ‘Travel Ambassadors’, including publicity, photographs, memorabilia and examples of the London Olympics magenta signage.

Opposite: The Museum at Covent Garden decorated with Tube 150 banners.

Below: A skilled craftsman at work on Met 35 at Ffestiniog Railway.

With the support of TfL, and the approval of the Museums Association’s Ethics Committee, over 400 duplicate posters in the collection were sold at

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Christie’s in the Posters with a Purpose sale. The exercise generated £0.8m for the Museum which sits in a restricted fund for spending on acquisitions and restoration. In addition, 50 posters were donated to partner museums alongside a programme of engagement with the objects to deliver public benefit across London and beyond.

Having concentrated on a few larger restoration projects, we missed our KPI target for the number of records enhanced by a considerable margin, but we did add over 12,000 new objects to the collection. These included digital film and photographs, as well as a 1961 Metropolitan line A-stock driving motor car retired from service this year.

Operating since 1960, the A-stock trains were, until their withdrawal in September 2012, the Underground’s oldest rolling stock still in use. The Museum continues to be at the forefront of contemporary collecting and interpretation, through its use of digital and social media, co-curation, artist commissions and participation. This year’s collecting included a series of animation shorts created by students at Central Saint

Above: Mind the Map preview.

Right and opposite: Posters from the Museum collection.

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Martins, and Depot Discoveries – short films explaining the stories behind objects in store at Acton Depot.

The Museum’s road vehicles were also in action this year. Passengers experienced historic country routes in Hertford on the GS64 Guy Special single deck bus, and historic motorbuses K424 and RTW467 made an appearance at Arriva’s centenary running day on Route 38 from Victoria to Clapton. The Tower Wagon, A1-class ‘Diddler’ and Q1 class trolleybuses all attended a rally at the East Anglia Transport Museum to mark another of the year’s anniversaries – 50 years since the last London trolleybus.

In preparation for our next big restoration project, the Museum acquired a collection of early motorbus parts in 2012, with financial support from the LTM Friends. Work begins next year to recreate a 1914 B-type bus as it would have appeared on the Western Front. This will form the centrepiece of centenary commemorations marking the outbreak of the First World War. The restoration project is supported by the HLF and LTM Friends.

Angel Station has the longest escalator on the Underground at 197ft. It has a vertical rise of 90ft.

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Case study

A colourful past and a bright future – Restoring Carriage 353

By Tim Shields, Curator, LTM

The restoration of the Museum’s Metropolitan Railway carriage was a high point of the Tube 150 celebrations and has given a remarkable piece of railway history a new lease of life.

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hen it comes to heritage railway operations, the steam locomotive at the front of the train is usually the star of the show. With its firebox glowing, steam billowing from its funnel, the historic Met No.1 locomotive – brought back into action for celebrations to mark 150 years of the Tube in 2013 – certainly cut a magnificent figure as it roared through the brick-lined tunnels of the Underground. But spare a moment for the humble carriages coupled behind.

They are, after all, where passengers spend most of their time.

When LTM decided to recreate the journeys of Victorian London, we were determined to deliver an authentic experience for spectators and passengers alike. In 2011, with support from HLF and LTM Friends, we embarked on an ambitious project to restore to its original glory Met 353, our unique four-wheeled Metropolitan Railway ‘Jubilee’ carriage from 1892.

Undertaking a faithful restoration is extremely difficult, especially where

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original components are missing and records are patchy. When we began the project, Met 353 was a dilapidated shell. Very little survived inside from when it was built. The team spent many hours in archives, libraries and museum collections on the hunt for plans, drawings and photographs that would tell us what the carriage had looked like and how it was constructed.

Combing the interior for clues, we became forensic detectives – searching for the tiniest threads of material and examining the ghostly imprints left by the original fittings.

Railway carriages can lead varied and interesting lives that don’t end when they retire from service. After many years on the railways in London and the West Country, Met 353 became, in turn, a military tailor’s workshop, an American servicemen’s club, a low-cost home and an antiques shop – ending up at a dairy farm in Oxfordshire before joining the Museum’s collection in 1974.

Opposite page and above: Met carriage 353, beautifully restored to its former splendour.

Other Victorian Metropolitan Railway carriages have similar stories, and by tracking them down in their guise as bungalows, sheds and beach huts, we gained further valuable evidence to feed into the restoration.

Ensuring that the vintage carriage would be compatible with the modern Underground system was a daunting challenge. Our assurance engineer worked alongside representatives of London Underground to make sure Met 353’s specification conformed to the required rolling stock standards. Other modern concerns were also addressed.

While we replicated an original lock mechanism – derived from a carriage door loaned by the Quainton Railway Society – the locks were partially disabled to prevent the doors being accidentally opened from inside. Gas lamps were replaced by disguised LEDs.

The final result is stunning. From the rich varnished teak of the exterior to the plush seats, gilded mirrors and leather door panels on the inside, this is a carriage fit for a queen. It was fitting, then, that Met 353 was presented to HRH Queen Elizabeth II at Baker Street in March 2013 on a visit to mark the 150th anniversary. To climb into the carriage is to step back in time and enjoy a real sense of the luxury and exhilarating novelty of the Victorian Underground. Thanks to our restoration, Met 353 will be able to bring this experience to many more people in future.

Tim Shields specialises in bringing LTM objects to life through interpretation and conservation. He was Project Manager for the Met 353 restoration and worked with a team of skilled craftsmen, engineers and technicians to rebuild the carriage.

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Plans for the future LTM has benefited from the opportunities afforded by this year’s 150-year celebrations of the London Underground, but continues to face challenging times ahead. Core grants are reducing and visitor numbers must be maintained at the heights achieved through Tube 150.

The Museum’s challenge for 2013/14 is to realise the maximum benefit from the rest of the Tube 150 year in terms of visitor numbers, shop sales and sponsorship income, and through the development of strong and sustainable partnerships. We have therefore established two strategic priorities for the year ahead: Priority 1 Deliver financial sustainability through maximising income generation and realising financial savings.

Priority 2 Develop mutually beneficial, strategic and operational partnerships with TfL that will strengthen the Museum’s charitable and commercial activities.

In support of these priorities, we have set a target of 300,000 visitors to Covent Garden and Acton for 2013/14.

We have a full programme of Tube 150 events planned, including talks, tours, family activites and steam train runs.

The Museum’s Piazza facade with new lighting and signage.

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We are reviewing the contract costs for security and cleaning services, and have identified capital projects that will reduce our maintenance costs for IT and AV equipment.

Building on the relationships established for Tube 150, we are working closely with TfL on a range of bus-related projects for 2014. We have agreed an extended residency at Aldwych station in 2013 and hope to re-establish regular steam train events on the Metropolitan line.

We are integrating TfL’s webshop with our own in order to generate scale economies and raise additional income.

We have been given the opportunity to invest in fixed poster sites across the Underground network which will be available for the exclusive use of the Museum for marketing and promotional activity.

We will launch more new products inspired by Tube 150, and continue to undertake retail-focussed PR and marketing activities. Investment in the facilities at Acton will improve our capacity to service the growing online retail business, while technical improvements will ensure our online sales platform is fully compatible with the new generation of mobile phones and tablet computers.

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thoughtleadership Thought Leadership sits at the heart of LTM’s corporate networking programme.

Over the last five years, the Museum has established itself as an important venue for the exchange of ideas about transport and urban planning.

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elivered in partnership with Thales and Eversheds, our Thought Leadership business breakfasts and dinners bring together transport industry professionals, senior executives and policy-makers from across the UK to discuss today’s topical issues with vision and authority, providing a way forward for the sector.

Alongside the Museum’s Annual Covent Garden Dinner and Corporate Members’ Reception, Thought Leadership events have become an integral part of the transport calendar for our corporate supporters. Topics from the wideranging 2012/13 programme included the London Olympic Games, road pricing, and the location of the UK’s next aviation hub. Participants included senior figures from TfL, government and industry such as Secretary of State for Transport Patrick McLoughlin, Daniel Moylan, the Mayor of London’s aviation advisor, Stephen Glaister, Director of the RAC Foundation, and Andrew Price, Chief Economist at Halcrow.

Our featured articles, selected from the 2012/13 programme, cover both road and rail issues. We are also pleased to reproduce an article by the Mayor of London, Boris Johnson, which appeared in the Daily Telegraph on 14 January 2013 – the day after the landmark Tube 150 anniversary steam train run, when much media coverage contrasted Victorian entrepreneurism with the need for modern-day investment.

Thought Leadership events scheduled for 2013 include a session on Crossrail 2 and another considering the lessons that the last 150 years have for planning the future of London.

For the full programme of past and future events, please contact development@ltmuseum.co.uk

London Overground: What’s next?

By Mike Brown, Managing Director, London Underground and London Rail

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efore the birth of London Overground Rail Operations Ltd (LOROL) in 2007, the North London Railway franchise was one of the poorest performing lines in the Capital. The Department for Transport’s (DfT) decision to trial a new model for this franchise was wellreceived and has proved very successful.

LOROL now operate the London Overground network under a concession agreement with TfL. There has been an improvement in performance and quality, and the Overground scored over 92% customer satisfaction in a Passenger Focus survey in 2012.

This success comes amid record demand on the Overground network.

Passengers have increased from 0.6m per week to 2.5m per week over the last five years. These numbers show no signs of slowing. Londoners are heavily dependent on tube and rail services.

There are six times more trips per head in the Capital than in the UK as a whole, and demand has grown so fast that on some routes the new capacity brought by investment in the network has already been used up. According to TfL’s predictions we can expect 1.25m more people to move to the Capital by 2031, so while LOROL and TfL can be proud of their success, there is no room for complacency.

Such a high rate of increase in demand warrants significant investment in capacity. While the DfT and the Mayor consider future Overground expansion, there are a number of other actions that will safeguard or enhance the

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performance of the network. One such measure would be to lengthen the trains on each route. This would allow TfL to move significantly greater numbers of passengers on the existing Overground network by 2016. This change delivers a benefit to cost ratio of 6:1, and the requirements – £200m of infrastructure works and £100m investment in rolling stock – will also create jobs across London and the UK. Another proposal is to extend the TfL brand to encompass the other Londonarea suburban rail franchises up for renewal in the next three years. Based on our experience this is a direct route to saving money, generating jobs and increasing capacity. The Mayor supports the devolution of some franchise contracts in 2014, with projected gross savings amounting to £100m over 20 years, but this proposal depends on a green light from the DfT. Let us hope for the right signal.

Based on a Thought Leadership event in June 2012.

As Managing Director of London Underground and London Rail, Mike Brown has responsibility for the Overground and Underground networks, DLR and Croydon Tramlink. He is responsible for services that provide more than one billion journeys every year, and for leading the largest line upgrade and investment programme the Underground has ever seen. He was named Rail Executive of the Year at the 2013 Metro Awards in Madrid.

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Cable theft: Is regulation of the scrap metal industry the solution?

By Paul Crowther, Deputy Chief Constable, British Transport Police

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etal theft is a national problem. Over the past five years it has had a significant impact on communities and industries across the UK. The rail network, utility companies, hospitals and even entire towns have been affected by metal thieves stripping out essential services to exploit the relatively high price of copper on world markets.

The number of thefts recorded in the UK is closely linked to the global price of copper which has increased in recent years. With demand still strong, the expectation is that the value of copper will remain high in the long term, making it an attractive commodity for thieves.

One of the major issues faced in trying to reduce metal theft has been the low risk-to-reward balance for thieves. In the past, the chance of facing successful prosecution was slim as the scrap metal industry operated under 50-year-old legislation and a lengthy history of cashin-hand transactions – all of which made it extremely difficult to trace anyone selling metal to scrap recyclers.

British Transport Police (BTP) has responded to this challenge and has made significant progress. Last year BTP launched the national Fusion

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Intelligence Unit (FIU), comprising staff from BTP, Network Rail, Highways Agency, HMRC, Serious and Organised Crime Agency, UK Border Force, BT and the Environment Agency. Within a secure environment, this multi-agency team shares data, intelligence and good practice with the aim of preventing, detecting and reducing metal theft.

The results have been impressive.

The team’s activities have seen a 56% reduction in live cable offences on the railway and an 83% increase in the number of people arrested and charged for metal theft last year.

In addition, new legislation, which came into effect in December 2012, saw an end to the ‘cash-in-hand, no questions asked’ culture that persisted in parts of the metal recycling trade.

Measures brought in under the Legal Aid, Sentencing and Punishment of Offenders (LASPO) Act on 3 December 2012 outlaw all cash transactions at recycling yards and there are also increased fines for dealers breaking the law or breaching licence conditions.

This is a welcome and significant step forward but will not work in isolation.

It will require a strong focus on these offences by police forces and other agencies to make a real difference.

Further changes are proposed in the Private Member’s Bill introduced by Croydon South MP Richard Ottaway to modernise the Scrap Metal Dealers Act 1964. The Act seeks to boost the licensing system, give police the power to close unlicensed premises and incorporate verifiable identification that will put an end to anonymous transactions. The Bill has received royal assent and should come into force in late 2013.

Despite recent success, and the new legislative provisions, there is still more work to be done. Police forces and industry must continue to work together to develop further strategies to tackle thieves and lessen the impact they have on business and communities.

Based on a Thought Leadership event in October 2012.

Paul Crowther joined the British Transport Police in 1980 and has held both uniformed and CID posts. He was appointed Deputy Chief Constable in September 2009. His responsibilities include police performance, strategic development and professional standards. He is leading the Association of Chief Police Officers’ programme to reduce conductive metal theft.

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Road pricing: The economic silver bullet?

By Sam Mullins, Managing Director, LTM

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ur Thought Leadership event in May 2012 saw a lively debate about the controversial topic of road pricing. The discussion was led by Stephen Glaister, emeritus professor of transport and infrastructure at Imperial College, London, and director of the RAC Foundation, and Andrew Price, chief economist at Halcrow and former economic adviser to the Department for Transport. Attendees included public transport operators and representatives from a range of industries including construction, engineering and traffic management.

The government has stated that funding for road improvements will not involve tolls or adding pricing to existing routes.

Despite this, many businesses, local authorities, professional bodies and academics are increasingly questioning whether the free provision of roads at point of use makes economic sense. A 2012 study by the Institute for Fiscal Studies, funded by the RAC Foundation, concluded that there was a compelling case for road charging and the need for a radical overhaul of the current system of road and fuel taxes.

But what is meant by road pricing?

Andrew Price outlined different approaches adopted around the world.

Facility tolling is a charge associated with a particular route and, though widespread overseas, it is not common

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in the UK except for a few well-known instances, such as the M6 toll and Dartford crossing. Other options include national road pricing schemes, or congestion charging as in Singapore, Stockholm and London. TfL faced stiff opposition when introducing the Congestion Charge in London – the retail sector rated it high on a list of factors impacting trade, Westminster Council launched a legal challenge against it, and the Conservatives’ 2004 mayoral candidate pledged to abolish it. Now it is a widely accepted part of London life, although evasion remains high and half the total revenue comes from fines for non-payers. Since its inception, however, the scheme has reduced traffic, improved air quality and increased use of public transport. The revenue has enabled TfL to invest an additional £1bn in London’s transport network.

As the ‘greening’ of vehicles continues, revenue from fuel duty will fall accordingly. Even with the projected increases in overall traffic, something new will be needed to fill the hole in the Treasury’s coffers – estimated at £13bn a year by 2029. A road pricing mechanism may well be the answer, but the government would need to work hard to convince a sceptical public. Two million people signed an online petition against a national road pricing plan, and the public mood remains firmly against widespread road charging. Although we pay more for trains in the peak and for

energy when supplies are disrupted, the argument for paying for roads when they are busy fails to find traction with motorists. Perhaps because of fear that road prices will be levied on top of existing taxes?

There are, however, signs that businesses are beginning to see the benefits of new ways of funding roads. A survey by manufacturers’ association EEF found that seven out of ten companies would support road pricing if it delivered significant network improvements. Delegates at our Thought Leadership event reached a similar conclusion but agreed that convincing the non-metropolitan car driving community would not be easy.

Noting that it took a strong-willed, maverick politician to bring change to London, the delegates ended the evening wondering who would be prepared to argue the case for wider road pricing not only with policy makers, but also, say, on an episode of Top Gear…

The debate continues, and Stephen Hammond MP will lead a followup session on road pricing as part of the 2013/14 Thought Leadership programme.

Based on a Thought Leadership event in May 2012.

Sam Mullins is a curator and author, and has been Managing Director of London Transport Museum since 1994.

His most recent book, with Oliver Green and David Bownes, is Underground: How the Tube Shaped London (Allen Lane/Penguin Books, 2012). He has pioneered the Museum as a forum for debate about contemporary transport issues.

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The Daily Telegraph

14 January 2013

It’s transport that will carry us down the road to recovery Upgrading the rail system is crucial if we are to be economically competitive again, says Boris Johnson

By Boris Johnson, Mayor of London.

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expect Sigmund Freud would have a word or two to say about it, but there is something about the sight of a steam train that seems to turn adult males into bug-eyed adolescents. As for steam trains entering underground tunnels – phwoar!

Choo choo, said our charismatic red locomotive, as it throbbed and chugged along the Metropolitan line – from Paddington to Farringdon, on exactly the pioneer route of 150 years ago. Choo choo, it cried to the astonished crowds.

From every bridge hung the railway enthusiasts, cameraphones flashing, and the platforms were thronged with geeks like goggling meerkats.

They had every right to be amazed, when you consider that this is the first time in our lifetimes that we have perfectly recreated a Victorian Tube train. As we lolled on the red velvet and looked at the gleaming teak and brass of our compartment, it was easy to imagine the first passengers: the nodding of top hats and the rustle of crinolines and Sir Arthur Conan Doyle sitting in the corner and getting an idea for his latest story – and as we pulled up at stations you could just see how the villain could slip away in the great white billowing exhalations of steam.

Yes, I can perfectly understand the romance, the excitement that grips the railway buffs. But it wasn’t the romance that seized me, not exactly. It was the sheer daring – the nuttiness – of our great great grandparents. Consider this contraption that was effortfully hauling

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us up Notting Hill – thugga thugga choo choo. Think of the magnesium glow of its boiler full of Welsh coal, the sweating stokers toiling away like some medieval vision of hell, the smuts of soot coming in through the window and covering the sipper lid of my latte.

By the time they tested the first Tube train, the very concept of a railway was only 30 years old; and you will remember how the test run of the Manchester-Liverpool line had been a bloody fiasco, with Stephenson’s Rocket crunching up the trade secretary and chopping off his leg. And yet here they were, audaciously sending this infernal machine into cut-and-cover tunnels under London and causing chaos and disruption on the route.

Why did they do it? It was desperation.

The idea first occurred to a London solicitor in the early 1840s, when he found himself going wild with fury in a traffic jam (‘Trains in drains!’ he cried, smiting his forehead). By then the population was already 2.8 million, and there was no more space for conventional overground tracks. The congestion of carriages was unbearable; the horse dung was mounting in the streets; the economic inefficiency was growing.

London was the greatest city on earth, a centre of banking, shipping, insurance and law – as it is today – and the clerks could not get to their place of work. Then came the Tube, and effectively made the modern city. By the early 20th century,

electric trains had created the suburbs, and enabled the professional classes to buy homes with gardens and live within less than an hour of their offices. The great Victorian gamble had paid off.

Investment in transport infrastructure – often led by the private sector, but invariably bailed out, one way or another, by the state – had unleashed the potential for economic growth. It is the transport that enables the housing; it is the housing that enables the concentration of skilled workers that produces economic competitiveness.

We need to remember that boldness today, and we need to recreate it urgently – for the good of the whole UK economy.

It is true that we are making some overdue but still phenomenal improvements in the Tube. We will soon have air-conditioning on 40 per cent of the network; the Victoria line will next week go up to a record 33 trains per hour; we have put in such excellent new signalling on the Jubilee line that trains are now running three mph faster than they were four years ago (to pick a period entirely at random) and delays on the system are down 40 per cent on four years ago.

We have Crossrail’s excavations landmarking our streets, and by 2018 this project – the largest engineering project in Europe – will add 10 per cent to the rail capacity of London, on top of the 30 per cent expansion of the Tube. And none of it will be enough. Since I have been Mayor, the population of London has grown by a dizzying 600,000 – or so the census says – and we are expecting to go up by a million by 2025.

London in the 21st century looks like retaining the crown it achieved in 1800 – comfortably the most populous and commercially powerful city in western Europe. It is that extraordinary demographic pressure of nine million people that means we must have a neo-Victorian approach to transport infrastructure.

If HS2 comes into Euston – by whatever route – then we must have a Crossrail Two, from Hackney to Chelsea, to deal with the influx and also to cope with the pressure on the already straining commuter networks of south-west London. We will need to continue the improvements of the Tube – with new rolling stock on the Piccadilly line and upgrades of the Northern line; and every new train must be automatic rather than equipped with an oldfashioned driver’s cab.

We must remember that we will be able to plan and procure more cheaply if we have a steady and consistent stream of funding, and we need to learn the lesson of the terrible mistakes of the second half of the 20th century. Britain failed to invest in the transport needs of its Capital, with the result that the system decayed, the economy stagnated, and the population actually declined. We allowed our docks to be replaced by Rotterdam, and we shambolically missed the chance to create a new hub airport to rival other EU capitals.

We can correct all those mistakes today, and in so doing we will put Britain on the path to sustained recovery, generate hundreds of thousands of jobs, and gain long-term competitive advantage. Yes, there was something nutty about the Victorians. But we need to rediscover their brilliance, their drive, and their self-belief.

We should start with transport.

Reproduced with permission from The Daily Telegraph.

Boris Johnson was elected Mayor of London in 2008.

As the head of London’s strategic authority, the Mayor promotes economic development and wealth creation, social development, and improvement of the environment in the Capital. Boris Johnson is Chairman of the Board of Transport for London.

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Income and support Our charitable activities depend upon income generated by commercial activities, fundraising, marketing and the generous donations of time and funds by volunteers, sponsors, LTM Friends and other supporters.

LONDON TRANSPORT MUSEUM (TRADING) LTD The commercial environment for the Museum’s subsidiary trading company was a complex one this year. With the sluggish state of the UK economy and the closure of a number of High Street chains denting consumer confidence, the retail and corporate hire businesses had to work hard to remain attractive to customers. Along with many museums last summer, LTM found it difficult to compete with the greatest show in town during the London Olympics: admissions and shop sales were depressed during the Games, but we had expected this and adjusted our plans accordingly to focus our activity in the second half of the year.

Investment in the Tube 150 anniversary brought an impressive uplift in retail sales from Christmas onwards, and significant commercial sponsorship.

The trading company ended the year with an operating profit of £0.8m which will be donated to the Museum by way of Gift Aid.

MUSEUM SHOP Despite a slow start to the year, shop sales grew by over £225,000 in 2012/13 following investment in shopfittings, merchandising, product development and consistently strong press and public relations activity. The Museum’s Mind the Map and Tube 150 publications helped book sales grow by a third to an exceptional £0.4m, while poster sales grew by over 50% after many years of relatively static performance.

The Tube 150 merchandising strategy saw a number of products launched in the second half of the year. Timed to coincide with a major overhaul of visual merchandising and the installation of new shopfittings, the first tranche of products arrived on 1 November and helped boost Christmas trading.

Additional products, along with further merchandising and media initiatives, helped the retail business capitalise on the Museum’s high visitor numbers in the early part of 2013. Sales rose significantly in the final quarter and the shop was able to meet its annual growth target of 17% over last year.

Opposite top: An evening event at the Museum for the film Sightseers.

Opposite bottom: The Museum shop now extends into the foyer.

Above: Covent Garden dinner and auction, September 2012.

Left: Wooden toy train based on Met No.1.

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E-COMMERCE Online sales remained buoyant throughout the year and achieved a 20% growth overall. Enhanced website functionality, better product photography and improved customer communications all contributed to this success, with some initiatives benefiting from ACE resilience funding. Mechanical problems with the ultrasonic cleaning apparatus disrupted sales of reclaimed luggage racks from scrapped Metropolitan Line trains.

Jet-washed racks, sold at a lower price and marketed as ‘raw’, went on sale at the Acton Depot Open Weekend and proved popular enough to launch online. Plans are being developed to sell repainted luggage racks later in 2013 based on the well-known colours of the London Underground map.

For posters, souvenirs, models and many more great products visit ltmuseum.co.uk/shop CORPORATE HIRE LTM hosted over 150 corporate events in the Museum’s galleries, Cubic Theatre and Foyer, and Boardroom this year. In January 2013 we expanded our list of catering suppliers, offering those who hire the Museum a greater choice of menu, style and price. It is hoped this wider list will also promote the Museum as a venue to the caterers’ existing clients. In partnership with our on-site catering company, Searcy, we introduced a special themed catering package celebrating Tube 150. Running throughout 2013, the package includes a private tour of the Poster Art 150 exhibition and costumed actors bringing the Met 23 steam train to life.

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many had not previously visited LTM. The subsequent media coverage of the Museum and the Mind the Map exhibition was extremely favourable.

To find out more about venue hire visit ltmuseum.co.uk/about-us/ venue-hire MARKETING The return of steam trains to London Underground generated intense media interest. The Museum’s marketing team worked in partnership with the TfL press office to achieve global coverage for Tube 150 and the heritage steam runs. This joint approach was a huge success, raising LTM’s profile and enabling TfL to use the heritage story of the Underground’s pioneers to communicate messages about contemporary developments and future investment.

The rest of our Tube 150 programme was equally well promoted. We generated significant media and public interest in the Poster Art 150 exhibition. The late-night public preview was particularly well attended and by 31 March 2013 over 11,000 people had voted for their favourite poster via the Siemens Poster Vote.

Campaigns to promote our new product lines boosted trading and raised the profile of the retail offer alongside other Tube 150 messages.

The idea of an evening preview for our exhibitions was piloted for Mind the Map. Haiku workshops, artist sessions and readings attracted a new audience to LTM for a Museums at Night event on the first day of the exhibition.

The innovative Project X show – an immersive, interactive theatrical presentation performed in and around the Museum at Covent Garden – helped to increase our reputation as an inventive museum and established the feasibility of similar events in future.

Online marketing is becoming increasingly important to LTM and using ACE funding we explored retailspecific marketing campaigns to generate webshop sales. The number of subscribers to the Museum’s e-newsletter more than doubled this year to 20,000 people.

FUNDRAISING With pressure on public finances and diminishing grant support, finding alternative sources of funding remains a priority. With assistance from ACE we were able to increase fundraising capacity this year and the results have been very successful.

A campaign to encourage individual donations towards the restoration of the Met No.1 steam locomotive has raised over £90,000 so far and we are

very grateful to everyone who shared our vision of seeing steam return to the London Underground. The campaign will continue in 2013 to support the operation of the locomotive on the Underground and at heritage railways across the South East.

Following their generous support for the restoration of Metropolitan Railway Carriage 353, the HLF awarded LTM £752,000 to restore a B-type bus as part of our plans to commemorate the First World War. We will deliver a programme of apprenticeships, volunteering and events throughout the five-year centenary period starting in 2014.

Our productive relationship with ACE saw LTM awarded £105,000 in Strategic Support funds to deliver partnership Income and support

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programming this year. In March 2013 ACE announced that the Museum had been awarded further grants of £823,000 to support activities centred around Acton Depot over the next two years.

The Luke Rees-Pulley Charitable Trust continued to be a generous partner with the final instalment of its funding for a Learning Officer for the Museum’s flagship Inspire programme that encourages young people to consider careers in transport and engineering.

Once again, Mayor of London Boris Johnson and TfL Commissioner Sir Peter Hendy were keynote speakers at the Museum’s annual dinner and auction. This prestigious event attracted nearly 400 transport industry guests and raised over £180,000. Our thanks go to all those who attended or contributed auction items, and to our auctioneer, James Knight of Bonhams.

CORPORATE SUPPORTERS LTM delivers mutually beneficial and rewarding relationships for its corporate supporters, members and sponsors. We are especially grateful to those companies who supported the Tube 150 celebrations, including Cubic Transportation Systems, the lead industry sponsor of Tube 150; Siemens, sponsor of Poster Art 150: London Underground’s Greatest Designs; and our other anniversary sponsors CBS Outdoor, Canary Wharf Group, Costain and Invensys. CBS Outdoor also sponsor the CBS Outdoor gallery, and Cubic Transportation have kindly extended their support of the Cubic Theatre and Foyer until October 2015.

In November, Serco sponsored The 2012 Serco Prize for Illustration on the popular theme of ‘Secret London’.

The Museum’s Thought Leadership programme attracts senior industry

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speakers to lead debates on important issues affecting transport in the UK. Eversheds extended their support for Thought Leadership until the end of 2014, and we are delighted to welcome new programme partners Thales.

Events in 2012/13 included discussions about road pricing, cable theft and the future of the London Overground.

Patrick McLoughlin, Secretary of State for Transport, also gave a ministerial briefing on transport strategy, economic growth and the government’s spending review. Thought Leadership networking opportunities form an important part of the business benefits package enjoyed by all our Corporate Members, which also includes free Museum access for employees, private tours of exhibitions and corporate hire of the Museum galleries.

Building on last year’s success we welcomed new Corporate Members this year including Hitachi, MJ Quinn, NSL, Peek, Swiss Re, Thales, Vix and Wrightbus. Nearly half of all Corporate Members have joined at, or upgraded to ‘Leader’ level.

LTM offers exceptional opportunities for exhibition sponsorship and educational initiatives including employment training and apprenticeships. Through our long-standing ties with industry and TfL, we have built a strong network of support to help young people discover careers in transport and engineering, promoting the long-term prosperity of the transport industry. To get involved, please contact LTM Marketing and Development on 020 7379 6344 or email supportus@ltmuseum.co.uk

related collectibles. The Friends offer knowledgeable and enthusiastic support for the Museum along with generous financial assistance for conservation projects and acquisitions. Many LTMF members regularly volunteer at Covent Garden and Acton.

This year, LTMF provided a major financial contribution to restoring Metropolitan Carriage 353 along with support for restoring other vehicles and purchasing new items for the collection.

The Friends are also providing funds towards the B-type bus restoration scheduled for 2014/15.

To find out more about LTM Friends, visit ltmuseum.co.uk/friends

over 150 volunteers contributed more than 14,500 hours of activity.

The Museum enjoyed significant success at the London Volunteers in Museums Awards in June 2012. Our Young Volunteers team were highly commended for best team contribution, an LTM volunteer was outright winner in the ‘Developing in a role’ category, and we had six runner up places. The Museum’s own Volunteer Coordinator was highly commended for his role in supporting, managing and encouraging volunteers.

To find out more about volunteering, visit ltmuseum.co.uk/getinvolved

VOLUNTEERS LTM is very grateful to the many people who donate their time, skills and expertise to support our programmes and events. During 2012/13, volunteers led guided tours, assisted in the library, helped with family activities, and brought exhibits to life by running object-handling sessions. Volunteers helped to develop new tours of the poster and art stores at Acton Depot, which have proven very popular, and worked on projects to conserve Museum objects and vehicles. In total,

London Transport Museum Friends The LTM Friends (LTMF) is an independent, volunteer-led charity funded by memberships, donations, legacies and sales of transport-

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Corporate members

Sponsors and donors

The Museum is grateful to the following companies and organisations for their support and generosity.

LEADER Abellio Alexander Dennis Arriva London Barclays Bombardier Transportation UK Cubic Transportation Systems* EnterpriseMouchel* Ferrovial Agroman FirstGroup UK Bus* Halcrow Group Hitachi M. J. Quinn Peek QBE Insurance Ringway Jacobs* Serco* Siemens* Skanska* Swiss Re Thales* Vix Technology Zurich DRIVER Eversheds* Go-Ahead Group* IBM Invensys Rail Mansell Construction NSL telent Technology Services

MEMBER Amey* Balfour Beatty Engineering Services BAM Nuttall Bechtel* Bircham Dyson Bell* Canary Wharf Group* Capgemini Capital & Counties* Citylink Telecommunications Deloitte* Freshfields* Hyder Consulting Mott MacDonald PricewaterhouseCoopers Radio Taxis Group RATPDev Sacker & Partners* Trapeze UK Power Networks Services Wrightbus

MAJOR FUNDERS Transport for London* Heritage Lottery Fund Arts Council England

ASSOCIATE KPMG Metroline Panthea

CBS Outdoor* Sponsor of the CBS Outdoor Gallery 150th anniversary of the London Underground

HONORARY CORPORATE MEMBERS 4-RAIL Services Clear Channel Outdoor*

Serco* Exhibition sponsor: The 2012 Serco Prize for Illustration

MAJOR SUPPORTERS DCMS/Wolfson Museums and Galleries Improvement Fund London Transport Museum Friends Luke Rees-Pulley Charitable Trust MAJOR SPONSORS Cubic Transportation Systems* Sponsor of the Cubic Theatre and foyer Lead Industry Sponsor: 150th anniversary of the London Underground Siemens* Exhibition sponsor: Poster Art 150 150th anniversary of the London Underground

SPONSORS Thales* Thought Leadership Partner Eversheds* Thought Leadership Partner Clear Channel UK* Advertising Partner Canary Wharf Group Costain* Invensys 150th anniversary of the London Underground SAP (UK) HCL AXON Peek* Alstom Hyder Consulting UK Macquarie Group NSL Ringway Jacobs* Skanska* Thales UK* DONORS Capital & Counties Railway Vehicle Engineering Ltd (RVEL) Steel Charitable Trust

* Thank you to these companies who purchased tables at the 2012 Covent Garden dinner and auction, as did Ashurst, Balfour Beatty Rail, Costain, CSC, Fujitsu Services, HSBC, J. Murphy & Sons, Stagecoach Group plc, Telef贸nica UK and Visa Europe.

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Sponsors and donors continued

INDIVIDUAL DONORS TO THE METROPOLITAN NO.1 RESTORATION APPEAL Over 200 people made a personal donation towards Met No.1, the steam locomotive restored and run to celebrate the 150th anniversary of the London Underground. We would like to thank everyone who lent their support to the project including the following major donors: Rhys Ab Elis Ian Arthurton Sir David Bell Angela Bibb Jim Bleasdale Colin Dancer Steve and Melanie Edge Dr Robert Gurd John Hart Anthony Hocking C. I. Horsey Guy Marriott Sir William and Lady McAlpine Alan Moore CBE Ian Ross Paul Ross Adrian Shooter CBE The Swallow Family J. G. Taylor Janice Uphill Anton Valk Roger Wright – Epping Ongar Railway

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EDUCATION PARTNERS A New Direction Acton High School Affinity Sutton Anstee Bridge Battersea Dogs & Cats Home Bermondsey Youth Club British Red Cross British Science Association British Transport Police Camden Council City of Westminster College Clear Channel Crossrail The Dogs Trust GLA Group Supplier Skills Team Gunnersbury Park Museum Hackney Museum Happy Museum Project (Paul Hamlyn Foundation) LEAP London Fire Brigade London Museums Group Metropolitan Police Metropolitan Police Marine Support Unit New Engineering Foundation Orleans House Gallery Peabody Portman Early Childhood Centre Royal College of Arts St Mungo’s Science Learning Centre Southwark Council STEMNET Trinity College London Transport for London: Workforce Continuity Transport for London Youth Panel Westminster Adult Education Service Worcester Polytechnic Institute

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Public programme Tube 150 To mark the 1 50th anniversary of the world’s first underground railway, LTM worked closely with London Underground and TfL to create an ambitious and engaging programme of events. With historic steam train runs at its heart, the public programme was also inspired by the publication of Underground: How the Tube Shaped London and the exhibition Poster Art 150: London Underground’s Greatest Designs. Further steam train outings on the Metropolitan line and a full programme of events are planned throughout 2013.

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DATE

EVENT

29 October 2012

Underground: How the Tube Shaped London Broadcaster Robert Elms talks to LTM historians Sam Mullins, David Bownes and Oliver Green about their book

10 January 2013

London Underground: Past, Present and Future Panel discussion with transport commentator Christian Wolmar, Londonist editor Matt Brown and authors Mark Mason, Annie Mole and Gareth Edwards

13 & 20 January 2013

Met Loco No.1 Heritage steam train runs on the London Underground mark the 150th anniversary of the worlds’s first underground railway

21 January 2013

The Underground Pioneers Talk by historian David Bownes

15 February 2013

Whose Line is it Anyway?

Opening night of Poster Art 150, with special guests John O’Farrell, Peter York and others

16–24 February 2013

February Half-Term Storytelling, poster art and more to kickstart a year of Tube 150 events for families

25 February 2013

The Rise and Fall of London’s Transport Talk with historian Oliver Green

28 February & 22 March 2013

Met Carriage 353 Specialist tours of newly restored Metropolitan Railway Carriage 353

2 March 2013

Poster Art 150: London Underground’s Greatest Designs Learning event with LTM curator Anna Renton

20 March 2013

Royal visit Met 353 on display at Baker Street station during the Queen’s visit

25 March 2013

Out of Chaos Talk with LTM Director Sam Mullins about the Underground’s last 50 years

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PUBLIC PROGRAMME – OTHER EVENTS FAMILY ACTIVITIES 2–13 April 2012

Make-and-Take Tip-Top Hats and Bonnets Easter activities run by young volunteers, including hat-making and gallery quizzes

4–8 June 2012

Creatures by Design Half-term art workshops based on the exhibition Mind the Map

13 August – 2 September 2012

I-Spy Maps Mask-making and puppetry based on characters found in the ‘Wonderground’ and ‘London Subterranea’ decorative maps

20–24 August 2012

Be Safe Week Fun workshops to teach families with young children how to travel safely on public transport

6–7 October 2012

20 October – 2 November 2012

The Knowledge Quiz Museum Depot Open Weekend celebrating London cabbies and their taxis, with Edwin Vaux, author of the Toby the Taxi books Where’s Bellboy Bob? Half-term activities looking back at the Olympic summer

23 October 2012

Cover Story Film and discussion about the artists who design Tube map covers, with Cornelia Parker, Louise Buck and Tamsin Dillon of Art on the Underground

19 November 2012

Subterranean London Talk about what lies beneath London, with Will Self, Robert Elms and artist Stephen Walter

27 November 2012

The Ultimate Guide to Secret London Talk by Londonist editor Matt Brown about London’s unconsidered places

HERITAGE VEHICLE OUTINGS 29 April 2012

London Bus Museum 1954 prototype Routemaster RM1 on static display

5–8 May 2012

East Anglia Transport Museum 50th anniversary of London’s last trolleybuses including 1931 AEC trolleybus No.1 and 1948 BUT Q1 class 1768 and 1936 AEC Tower Wagon 89Q on display

6 May 2012

Historical Commercial Vehicle Society London-to-Brighton Run 1953 Guy single deck country area bus GS64

12 May 2012

Fulwell Garage Open Day 50th anniversary of last London trolleybuses including 1931 AEC trolleybus No.1, and 1948 BUT Q1 class 1768 and 1936 AEC Tower Wagon 89Q on static display

20 May 2012

Rickmansworth Canal Festival 1954 prototype Routemaster bus RM1

3 June 2012

Hertford Running Day Country area bus GS64

10 June 2012

Walthamstow Pumphouse Museum AEC Centenary with 1920 AEC K-type open top bus K424

17 June 2012

38 Route Arriva centenary running day on Route 38 from Victoria to Clapton with 1920 AEC K-type open top bus K424

24 June 2012

London Bus Museum 1954 Leyland double deck bus RTW 467

TALKS, DEBATES & SEMINARS 5 May 2012

Tube London Book-signing with author Rebecca Sams

20 June 2012

Beck and Beyond LTM curator Claire Dobbin, writer Mark Ovenden and psychologist Max Roberts discuss Harry Beck, his legacy and alternative maps

3 July 2012

29 September 2012

20 October 2012

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Cine-mapping Film-screening and discussion on how film can document a place or journey, with Christian Grou (Neutral) and Chris Allen (The Light Surgeons) The Art of Maps and Mapping Symposium on maps in contemporary art with artists Simon Patterson, Jeremy Wood, Shane Walter and Susan Stockwell Meet the artists Discussion with Mind the Map artists Agnes PoitevinNavarre and Susan Stockwell

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HERITAGE VEHICLE OUTINGS – continued 9 September 2012

Amersham Heritage Day Trips on the Metropolitan Line with LTM 1938 Tube train and LUL 1920 Metropolitan Railway electric locomotive Sarah Siddons. Routemaster prototype RM1 running a shuttle service to Amersham Old Town

22 September 2012

Leyton & West Ham Garage Routemaster prototype RM1

29 September 2012

Kew Bridge Engines Museum Role of trolleybus maintenance crew in Second World War with1936 AEC Tower Wagon

6–7 October 2012

Depot Open Weekend Open weekend with taxi trips and regular bus service including RM1

21 October 2012

London Bus Museum Routemaster prototype RM1

25 November 2012

24 Route Centenary 1988 Volvo Alexander double deck bus VA115 running between Hampstead and Pimlico

14 July 2012

Walk the Lines Piccadilly line walking tour from King’s Cross to Covent Garden with author Mark Mason

27–28 July 2012 26–27 October 2012 22– 23 February 2013

Art and Poster Tours Guided tours of some of LTM’s 7000 rarely seen London Transport posters

29 September 2012

Last A-stock Rail Tour Rail tour to mark the last A-stock trains on the Metropolitan line

30 November – 9 December 2012

Aldwych Open Days Tours of one of London’s closed Underground stations

January – March 2013

Capital Tracks Tour exploring how the railways shaped London from 1836 onwards, with historian Oliver Green

January – March 2013

Transporting London Tour looking at how London Transport changed the city through architecture, engineering, posters and graphics, with Oliver Green

COMMUNITY EVENTS From July 2012

Project 353 Learning projects for under-represented groups, funded

by HLF, to respond creatively to London’s history, through the story of Metropolitan Carriage 353

From November 2012

The Happy Museum Participants from St Mungo’s, mentored by LTM volunteers, develop skills in the Museum

Andi James and Steve Wilson hold the record for visiting all the Underground stations in the shortest time. They took 16 hours, 29 minutes and 13 seconds.

TOURS & MUSEUM ACTIVITIES

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27 April 2012 – 30 March 2013

Behind-the-scenes Monthly Tours Guided tours of the LTM collection at Acton Depot

18 May 2012

Mind the Map: Maps Unleashed Artist workshops, readings, DJs and guided tours on the opening night of the exhibition, Mind the Map

16 June – 16 December 2012

Project X Immersive theatrical experience around LTM and surrounding area

16 June 2012

Launch of ‘Walk the 38’ Charity fundraiser to celebrate centenary of Arriva’s Route 38

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Public Add chapter programme head © Maryam Mazvaei for LTM

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I

n the mid-1920s, staff at the London General Omnibus Company (LGOC) realised that the Capital was approaching a milestone anniversary – 100 years since the introduction of the first passenger bus services. They had the foresight to preserve a number of early buses and commission a replica of George Shillibeer’s original horse-drawn omnibus of 1829. In doing so the LGOC planted the seeds for today’s London Transport Museum and began a collection that now numbers 450,000 objects.

History of the Museum From modest beginnings, LTM has grown to be a world-class museum for a world-class city.

The London Passenger Transport Board inherited and expanded that early collection and in the 1960s they established the Museum of British Transport in a former bus garage at Clapham. By now the collection had grown to include bus, Underground and mainline railway material but it was broken up when many of the artefacts from Clapham transferred to the new National Railway Museum in the 1970s.

The remaining material was then designated as the London Transport Collection and spent some years at Syon Park in west London. The regeneration of the former flower market at Covent Garden provided the opportunity for a dedicated, central London home for the collection and on 28 March 1980 the London Transport Museum was opened

by HRH Princess Anne.

Designated as being of national importance in 1997, our collection now includes trains, buses, trams, signs, photographs, posters, uniforms and transport ephemera, as well as audio, video and digital data. Much of the collection is cared for at our Museum Depot in Acton which was the first publicly accessible museum store in the UK when it opened in 1999.

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The Covent Garden building has been significantly refurbished twice since 1980. New interior floors have allowed for more display space as well as extensive conferencing and visitor facilities, and a much-loved shopping destination.

The recently extended CBS Outdoor gallery hosts an exciting programme of temporary exhibitions supplemented by talks and events in the 120-seat Cubic Theatre. We also take our activities beyond the Museum at Covent Garden into schools and communities, into disused stations and onto the roads and rails of the transport network.

Opposite: The gallery floor temporarily became a giant Underground map in 2005 (photo LTM Flickr).

Top: Covent Garden during the construction of the mezzanine in 1993 (photo LTM Flickr).

Above: Princess Anne at the opening of the Museum in Covent Garden, March 1980 (photo by Bruce Jenkins)

Since April 2008 the Museum has been a registered charity with its own Board of Trustees and a clear responsibility to deliver public benefit through its operations and activities. We remain integral to the transport scene in London and are proud of the part we have played in marking 150 years since the opening of the world’s first underground railway.

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Structure, governance and management GOVERNING DOCUMENTS London Transport Museum Limited (LTM) is a registered charity incorporated on 6 February 2008 as a company limited by shares. It is governed by its Memorandum and Articles of Association. Under the GLA Act 1999, Transport for London (TfL) has the power to provide and maintain a museum of transport artefacts, records and other exhibits. While it is common for charities to incorporate as companies limited by guarantee, the Transport for London (Specified Activities) Order 2000 requires TfL to carry out museum activities through a company limited by shares.

Under section 5.1 of the LTM Memorandum of Association, the property and funds of the Museum must be used only for promoting the objects and no dividend is payable to TfL. LTM has a wholly owned subsidiary, London Transport Museum (Trading) Limited (LTMTL), through which we operate retail, corporate hire and other non-charitable activities to generate funds to further the Museum’s objects. All the profits of LTMTL are donated to LTM. ORGANISATION The Museum is governed by a Board of Trustees, chaired by Sir David Bell.

The Board meets four times a year for routine business and may convene other meetings as necessary to consider urgent issues. In addition, Trustees take part in an annual review of strategy.

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Director, Sam Mullins, and through him to the Senior Management Team, employees and volunteers.

APPOINTMENT OF TRUSTEES There are up to thirteen Trustees, three of whom are nominated by TfL and may be members, officers or employees of TfL or the Greater London Assembly. The Managing Director of LTM is automatically a Trustee by virtue of his office, and there are up to nine independent Trustees unconnected with TfL. The Board has established a Nominations Committee to offer advice and make recommendations regarding the appointment of independent Trustees.

Trustees serve a three-year term following which they may be elected for another three years. The Articles of Association make allowance for a second extension of up to three more years in exceptional circumstances.

Other than the Managing Director, who is an employee of LTM, the Trustees receive no remuneration but may claim travel expenses for attending meetings. At 31 March 2013, there were eleven Trustees.

RECRUITMENT OF TRUSTEES A Nominations Committee was established in June 2012 to make recommendations regarding Trustee appointments and membership of committees. Independent Trustees are selected on their ability to meet the requirements of the vacancy to be filled. We seek to recruit Trustees with expertise and experience that will support the strategy and operation of the Museum in areas such as

community outreach, education, museum practice, commercial transportation, finance and governance, retail operations and public relations.

The Nominations Committee has recommended that Trustees with experience in areas of commercial property, city futures, and youth employment and skills would also be of benefit for the Museum.

In recruiting Trustees, LTM is mindful of TfL’s Equality and Inclusion Policy.

It is anticipated that at least two new Trustees will be in place by the autumn of 2013.

TRUSTEE INDUCTION AND TRAINING New Trustees undergo an orientation programme to brief them on their obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan and recent performance of the Museum. During their induction they are invited to spend time with the LTM Managing Director and meet senior staff, and are provided with relevant reference material.

AUDIT COMMITTEE The role of the Audit Committee is to assist and advise the Board of Trustees of LTM on audit matters and oversee the relationship with TfL Internal Audit and external auditors. This includes detailed review of the Annual Accounts and supporting information, and consideration of Internal Audit Reports. The Nominations Committee has recommended that another

independent member of the Audit Committee should be appointed.

RISK MANAGEMENT The Trustees acknowledge their responsibility to assess and manage the risks facing the Museum. The major risks to which the Museum is exposed have been reviewed. The Trustees have implemented a risk management strategy which includes the following actions that were undertaken in the year: u Periodic risk reviews by the Managing Director and Senior Management Team, overseen by the Audit Committee u Annual review of risk and risk management by the Trustees u Maintenance of the Risk Map and Risk Register u Maintenance of systems and procedures to mitigate risks identified in the Risk Map and Risk Register u Maintenance of procedures designed to minimise any potential impact on the Museum should those risks materialise u Regular audits of Museum operations carried out by TfL’s Internal Audit department The Museum’s key risks are identified as those with a potential impact that is rated ‘High’ or ‘Very High’, and which have a ‘High’ or ‘Very High’ likelihood of occurring. Two risks fall into this category: u Increase in fixed costs u Loss of key skills and knowledge

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To mitigate these risks, the Trustees and/or Management Team have undertaken the following actions: u Maintained vacancies covered by agency resources to preserve flexibility and keep costs down u Proposed organisational changes that will result in efficiencies and reduce costs u Reviewed operating costs and begun retendering for some services u Put in place succession plans for key personnel/skills u Formed a Nominations Committee RELATIONSHIP WITH TFL A series of written agreements exists between TfL and LTM which sets out the framework for the continued provision and maintenance of the Museum, the operation and funding of LTM, and the long-term relationship of the parties. We currently care for a collection of 450,000 objects which remain the property of TfL and are subject to a loan agreement between the Museum and TfL. EMPLOYMENT POLICIES At the end of March 2013, the Museum employed 95 people (91.4 full time equivalent).

The Museum is part of the TfL Framework for Consultation and Collective Bargaining. Pay negotiations are conducted between the TfL Company Council for Collective Bargaining and the recognised trades unions which are the National Union of Rail, Maritime and Transport Workers (RMT) and the Transport Salaried Staff Association (TSSA).

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CHARITABLE OBJECTIVES AND PUBLIC BENEFIT When reviewing the Museum’s aims and objectives, and in planning future activities, the Trustees of LTM have had due regard to the principles of public benefit and the public benefit guidance published by the Charity Commission. We believe that LTM delivers important public benefits that uphold these principles.

Principle 1: There are identifiable benefits, related to our aims and balanced against any harm.

LTM’s aims as a charity are to advance the heritage of transport in London and to educate the public about the history of transport in London through the provision, operation and maintenance of a transport museum for the public benefit. LTM also seeks to educate the public about the role of transport in the life and work of London past, present and future.

The Museum provides clear and identifiable benefits to the public in three categories of activity: education and engagement, access and museum operations, and heritage and collections.

LTM does no harm or detriment through its charitable activities. The health and safety of staff and visitors are taken very seriously and the Museum operates safety management systems involving trained staff to reduce our risks to a level that is as low as reasonably practicable for all our operations. We also seek to reduce our impact on the environment by reusing materials purchased for temporary

exhibitions where possible. LTM also uses photovoltaic solar panels on the Museum roof to generate an estimated 7% of the annual electricity required in the galleries.

Principle 2: The benefits to the public are not unduly restricted and do not exclude people in poverty. Private benefits are incidental.

LTM delivers benefits to visitors at the Museum in Covent Garden and the Depot in Acton, to users of our website, and to schoolchildren and audiences across Greater London who take part in our educational, community and engagement programmes. Our audience development and community outreach work engages with people who would not normally visit museums and galleries. The Museum at Covent Garden is fully accessible and welcomes visitors on all but two days of the year.

Our visitors come from across London and the world. We take our historic vehicles out onto the roads and rails, visit schools and work with local communities across the Capital. Our comprehensive online Museum includes access to the exhibits available in our main gallery as well as thousands of objects not normally on public display. We also loan objects to other institutions to extend our reach and increase access to our collections.

Online access is free and the Safety and Citizenship programme is delivered at no cost to the schools taking part. Although the Museum charges admission for entry to the galleries at Covent Garden, various measures are taken to ensure that charges do not unduly restrict

access to the collection. These include free entry to the Museum for children under the age of 16, free entry for carers accompanying disabled visitors, and reduced admission charges for senior citizens, students and other concessionary groups. Museum admission tickets are valid for one year to encourage return visits and increase value for money for visitors.

Where the Museum delivers private benefits to individuals or companies, these are subject to appropriate commercial arrangements undertaken through a subsidiary company to generate funds for the Museum.

No LTM or TfL staff receive private benefit other than in an incidental way and, with the exception of Sam Mullins who receives a salary in respect of his position as the Museum’s Managing Director, the Board receive no payments for their role as Trustees of the Museum.

DISCLOSURE OF INFORMATION TO AUDITORS The Trustees who held office at the date of approval of this Trustees’ Report confirm that, so far as they are each aware, there is no relevant audit information of which the Museum’s auditors are unaware; and each Trustee has taken all the steps that they ought to have taken as a Trustee to make themselves aware of any relevant information and to establish that the Museum’s auditors are aware of that information.

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increased trading activity, but generally costs were kept under control. Some areas of expenditure decreased in line with reduced funding as projects came to an end, but the Museum was still able to deliver a substantial programme of activity including major restoration projects and Tube 150 events.

Financial review The exceptional auction of 400 collectible posters donated by Transport for London had a major effect on the financial results for 2012/13. The sale generated a one-off injection of £0.8m of income which will be held in a restricted fund for the benefit of the collection. With interest around the Tube 150 celebrations raising the profile of the Museum, it was a good year for fundraising, visitor numbers and retail sales. This helped generate net incoming unrestricted funds of £0.3m. The combined operating surplus (net movement of funds) was £1.1m (2012: £1.1m deficit), with total funds carried forward of £29.6m (2012: £28.5m). The surplus is a combination of additional income and reduced operating expenditure; however there is an offsetting increase in capital expenditure this year.

The Museum’s commercial subsidiary, London Transport Museum (Trading) Limited increased its turnover by £0.6m to £3.2m (2012: £2.6m) as a result of improved venue hire, sponsorship and sales online and at the Museum. Higher footfall at Covent Garden, particularly in the last quarter of the year, helped to boost shop sales by nearly 20%, with new Tube 150 merchandise proving popular.

Higher visitor numbers also helped to raise admissions revenue to £1.6m (2012: £1.4m), although this was also affected by the increase in ticket prices in January 2013 – the first increase since October 2010.

2012/13 saw the second year of a phased, four-year reduction in grant from TfL, but the total grant received was substantially unchanged from last year as additional unbudgeted support of £0.2m was generously given by TfL in 62

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respect of the Museum’s fire protection works at Acton Depot. These works were essential to protect the collection and ensure the Depot could continue to operate, and were necessitated by a reduction in mains water pressure since the installation of the original system. The remaining £0.4m of cost for the project was met by a transfer from the Museum Development Fund. Other capital work saw the substantial completion of the improved visitor toilet facilities, schools welcome area and staff reception. £0.1m of funding from the DCMS/Wolfson Museums and Galleries Improvement Fund, and the application of Tube 150 sponsorship funding from Siemens, allowed a substantial improvement to the Covent Garden galleries, doubling the space for temporary exhibitions and creating a dedicated learning and activity room. In total, £2.2m of capital work was undertaken in the year.

Other significant sources of income included the Safety and Citizenship programme (£1.1m), HLF support for the Tube 150 carriage restoration programme (£0.2m), and support from ACE (£0.4m) who took over the government’s Renaissance funding portfolio from the Museums, Libraries and Archives Council in 2011/12. London Transport Museum Friends remain an important financial supporter of LTM, contributing £0.2m this year and pledging further funds for the 2014 bus restoration project. As a result of the Tube 150 events, the Museum was able to raise £0.2m through individual donations and ticket sales for steam train runs.

The expenditure associated with generating funds rose this year in line with

RESERVES The reserves policy is reviewed annually taking into account the Museum’s plans, funding and general financial position.

The Trustees maintain reserves for three main reasons: (i) to provide funds for major repairs, asset renewals and other future capital expenditure associated with the Museum’s premises, facilities and exhibitions (ii) to provide funds for collections acquisition, conservation and restoration (iii) to underwrite the planning of major exhibitions and related activities in advance of seeking external funding, and to cover the cost of such activities should external funding not become available The Museum Development Fund is set aside to provide for repairs and renewals and stood at £2m at the end of 2011/12.

The target range for reserves for this purpose is between £1m and £2m, based on the Museum’s estimated capital expenditure needs. The net movement of the fund in 2012/13 was a decrease of £0.5m which was made up of £2m used to fund work to the Museum’s buildings and facilities, offset by a designation of £1.5m of unrestricted reserves to bring the Fund back within the target level.

The Future Exhibitions and Education Fund met £0.1m of exhibition costs during the year. An equivalent amount in unrestricted reserves has been designated to this fund to maintain it at £0.5m for next year.

The Museum’s fixed assets transferred from TfL on 1 April 2008. At this time, reserves equivalent to the balance sheet value of the assets were set aside

in a designated fund as they do not represent funds readily available for other purposes. This Capital Fund is adjusted to include the value of asset purchases and disposals, and is written down annually by the value of the depreciation on the Museum’s fixed assets. A transfer of £0.1m was made into the Fund for capital works purchased using restricted funds in 2012/13. The restriction was discharged by the purchase of the assets. A further transfer was made from the unrestricted reserves in respect of the capital works at Acton Depot supported by TfL’s additional grant contribution of £0.2m. A transfer from the Museum Development Fund was also made to ensure that the Capital Fund represents the net book value of the Museum’s tangible fixed assets.

No further designations took place in the year, leaving general funds at £0.2m.

General reserves are not restricted to, or designated for, a particular purpose. The Museum’s policy is to hold no more than £1m in general reserves.

The requirements of the Museums Accreditation scheme are such that disposal of any collection objects creates an obligation to spend the income in a way which benefits the collection. Accordingly, the proceeds of the sale of surplus posters have been placed in a new restricted fund, the Collections Development Fund, for future acquisitions and conservation activities. The Trustees are reviewing ways to preserve the capital sum in this Fund while generating an annual return for collections development projects.

INVESTMENT POLICY It is the policy of the Museum to invest surplus funds in short-term cash deposits within the UK. With the creation of the Collections Development Fund, it is expected that there will be additional surplus funds available for longer term investment. The Trustees intend to review the investment policy to identify opportunities to generate a return from these funds.

Financial review

Yearbook 2012 |2013

63

Trustees’ statement

Trustees and advisors

Statement of Trustees’ responsibilities in respect of the Trustees’ Annual Report and the Financial Statements The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year. Under that law they are required to prepare the group and parent company financial statements in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice).

Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and charitable company and of the excess of income over expenditure for that period. In preparing the group and charitable company financial statements, the directors are required to: u select suitable accounting policies and then apply them consistently; u make judgements and estimates that are reasonable and prudent; u state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and u prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue its activities.

64

Trustees’ statement

Yearbook 2012 | 2013

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006.

They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charitable company and to prevent and detect fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the Board of Trustees on 26 June 2013 and signed on its behalf by:

DIRECTORS AND TRUSTEES The Directors of the charitable company are its Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees.

BOARD OF TRUSTEES Robert Ian Arthurton Sir David Bell (Chair) Howard Collins* Roger Cooke Jeremy Fraser Sir Peter Hendy* (from 11 October 2012) Glenn Lyons (to 19 September 2012) Terry Morgan* Daniel Moylan* (to 14 May 2012) Sam Mullins (Managing Director) Phil Swallow Janet Vitmayer David Worthington AUDIT COMMITTEE Sir David Bell Roger Cooke (Chair) Phil Swallow NOMINATIONS COMMITTEE Robert Ian Arthurton Sir David Bell (Chair) Janet Vitmayer

Sam Mullins, Managing Director London Transport Museum Limited Company registration number 6495761 Charity number 1123122

COMPANY SECRETARY Howard Carter DIRECTORS OF LONDON TRANSPORT MUSEUM (TRADING) LIMITED Robert Ian Arthurton (to 3 April 2012) Chris Gilbert Sam Mullins Randeep Sidhu Michael Walton Peter Williams Claire Williamson David Worthington (Chair) PRINCIPAL BANKERS HSBC 8 Victoria Street London SW1H 0NJ AUDITORS KPMG LLP 1 Forest Gate Brighton Road Crawley RH11 9PT PRINCIPAL LEGAL ADVISORS TfL In-House Legal Department 6th Floor Windsor House 42–50 Victoria Street London SW1H 0TL

* Nominee of Transport for London Trustees and advisors

Yearbook 2012 |2013

65

Independent auditor’s report Independent auditor’s report to the shareholder of London Transport Museum Limited We have audited the financial statements of London Transport Museum Limited for the year ended 31 March 2013 set out on pages 68 to 83.

The financial reporting framework that has been applied in their preparation is applicable law and UK Accounting Standards (UK Generally Accepted Accounting Practice).

This report is made solely to the charitable company’s shareholder, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s shareholder those matters we are required to state to the shareholder in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its shareholder for our audit work, for this report, or for the opinions we have formed.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND AUDITOR As explained more fully in the Statement of Trustees’ Responsibilities set out on page 64, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.

Our responsibility is to audit, and express an opinion on, the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland).

Those standards require us to comply with the Auditing Practices Board’s Ethical Standards for Auditors.

SCOPE OF THE AUDIT OF THE FINANCIAL STATEMENTS A description of the scope of an audit of financial statements is provided on the Financial Reporting Council’s website at www.frc.org.uk/ auditscopeukprivate.

OPINION ON FINANCIAL STATEMENTS In our opinion the financial statements: u give a true and fair view of the state of the group’s and the charitable company’s affairs as at 31 March 2013 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; u have been properly prepared in accordance with UK Generally Accepted Accounting Practice; and u have been prepared in accordance with the Companies Act 2006.

OPINION ON OTHER MATTER PRESCRIBED BY THE COMPANIES ACT 2006 In our opinion the information in the Trustees’ Annual Report for the financial year for which the financial statements are prepared is consistent with the financial statements.

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: u the charitable company has not kept adequate accounting records or returns adequate for our audit have not been received from branches not visited by us; or u the charitable company financial statements are not in agreement with the accounting records and returns; or u certain disclosures of Trustees’ remuneration specified by law are not made; or u we have not received all the information and explanations we require for our audit.

Nicola May (Senior Statutory Auditor) for and on behalf of KPMG LLP, Statutory Auditor Chartered Accountants 1 Forest Gate Brighton Road Crawley RH11 9PT 4 July 2013

66

Independent auditor’s report

Yearbook 2012 | 2013

Independent auditor’s report

Yearbook 2012 |2013

67

Financial statements Consolidated statement of financial activities

Balance sheets

Including income and expenditure account - Year ended 31 March 2013

As at 31 March 2013

Note

Unrestricted Funds 2013 £000

Restricted Funds 2013 £000

Total Funds 2013 £000

Total Funds 2012 £000

Incoming resources

2013 Group £000

2012 Group £000

2013 Museum £000

2012 Museum £000

11

26,534

25,633

26,534

25,633

941

690

-

-

Debtors

12

1,750

627

2,850

1,941

Cash

13

3,680

4,319

2,083

4,046

6,371

5,636

4,933

5,987

(2,990)

(2,722)

(1,716)

(3,157)

3,381

2,914

3,217

2,830

29,915

28,547

29,751

28,463

(164)

(84)

-

-

Tangible Fixed Assets Current Assets

Incoming resources from generated funds

Stock

Voluntary income Core grants

5,787

-

5,787

5,785

190

100

290

487

2

5,977

100

6,077

6,272

3

3,555

988

4,543

2,982

16

-

16

30

Education and engagement

1,392

461

1,853

1,741

Access and museum operations

1,589

-

1,589

1,514

113

470

583

239

3,094

931

4,025

3,4 94

12,642

2,019

14,661

12,778

Other donations Activities for generating funds

Note

Investment income (bank interest) Incoming resources from charitable activities

Heritage and collections 4 Total incoming resources Resources expended

Creditors Falling due within one year Net Current Assets Total assets less current liabilities Creditors Falling due after more than one year Provisions for liabilities

670

Commercial trading operations 5

99

769

676

(171)

-

(171)

-

29,580

28,463

29,580

28,463

16a

842

30

842

30

2,462

76

2,538

2,112

3,132

175

3,307

2,788

Called up share capital

18

-

-

-

-

26,534

25,633

26,534

25,633

500

500

500

500

1,500

2,000

1,500

2,000

204

300

204

300

28,738

28,433

28,738

28,433

29,580

28,463

29,580

28,463

Unrestricted funds Designated funds

Education and engagement

3,502

517

4,019

4,235

Access and museum operations

3,988

-

3,988

4,171

Heritage and collections

1,753

433

2,186

2,638

5

9,243

950

10,193

11,044

5, 7

44

-

44

71

5

12,419

1,125

13,544

13,903

Gross transfers between funds

223 82

894 (82)

1,117 -

(1,125) -

Net movement of funds in year

305

812

1,117

(1,125)

16a

Capital fund

Cost of charitable activities

Total resources expended

15

Net Assets

Restricted funds

Costs of generating voluntary income and other funds

Net incoming / (outgoing) resources before transfers

14b

Represented by

Costs of generating funds

Governance costs

14a

Future exhibitions and education Museum development General unrestricted fund 16a Total

These financial statements were approved by the Trustees on 26 June 2013 and signed on their behalf by:

Reconciliation of funds Total funds brought forward Total funds carried forward

28,433

30

28,463

29,588

28,738

842

29,580

28,463

The statement of financial activities includes all gains and losses recognised in the year.

All incoming resources and resources expended derive from continuing activities.

Sam Mullins, Managing Director London Transport Museum Company registration number 6495761 The notes on pages 70 to 83 form part of these accounts.

68

Financial statements

Yearbook 2012 |2013

Financial statements

Yearbook 2012 |2013

69

Notes to the financial statements

1. Accounting Policies a) Basis of preparation The financial statements have been prepared under the historic cost convention and in accordance with the Statement of Recommended Practice: ‘Accounting and Reporting

by Charities’ (SORP 2005) as well as the applicable UK Accounting Standards and the Companies Act 2006. The principal accounting policies adopted in the preparation of the financial statements are set out below. The Trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the Trustees continue to adopt the going concern basis in preparing the annual report and accounts. b) Group financial statements These financial statements consolidate the results of the charity and its wholly owned subsidiary London Transport Museum (Trading) Limited on a line by line basis. Neither a separate statement of financial activities nor an income and expenditure account are presented for the charity itself following the exemptions afforded by section 408 of the Companies Act 2006 and paragraph 397 of the SORP. c) Incoming resources Incoming resources are included in the Statement of Financial Activities when the Museum has entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Voluntary income includes donations, gifts and grants that provide core funding or are of a general nature. These are recognised upon receipt. Such income would only be deferred when: u The donor specifies that the grant or donation must only be used in future accounting periods; or u The donor has imposed conditions which must be met before the Museum has unconditional entitlement.

Income from corporate supporter memberships, commercial trading and sponsorship activities where benefits are delivered by the Museum is recognised as the related goods and services are provided.

d) Volunteers The value of services provided by volunteers is not incorporated into these financial statements. Further details of the contribution made by volunteers can be found in the body of the Trustees’ Annual Report. e) Resources expended All outgoing resources are included in the Statement of Financial Activities inclusive of any irrecoverable VAT. Expenditure is recognised when a liability is incurred and is classified under the following principal categories: u Costs of generating funds are those costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. u Charitable activities include expenditure associated with the operation of the Museum and its educational and public programmes, and the management and development of the Museum’s collections and exhibitions. u Governance costs are those incurred in the governance of the Museum and its assets and are primarily associated with constitutional and statutory requirements.

Where costs relate directly to an activity they have been allocated against that activity.

Support costs that relate to more than one activity have been allocated to activity cost categories on the basis of staff numbers in each area of activity (see Note 6). f) Operating leases Costs relating to operating leases are charged to the Statement of Financial Activities on a straight line basis over the life of the lease. g) Tangible fixed assets Individual fixed assets over £10,000 are capitalised at cost.

Tangible fixed assets are depreciated on a straight line basis over their estimated useful lives as follows: Plant and equipment Buildings and refurbishments

3 – 10 years 10 – 35 years

Investment income is recognised on a receivable basis.

Income from charitable activities includes income received under contract or where entitlement to grant funding is subject to specific performance conditions which is recognised as the related goods or services are provided.

Goods, facilities and services donated for the Museum’s use, where the benefit is quantifiable and the goods and services would otherwise have had to be purchased, are recognised in the financial statements, as both income and expenditure, at a reasonable estimate of their value to the charity in the period in which they are donated.

70

Financial statements

Yearbook 2012 |2013

Structural improvements to the fabric of the Museum at Covent Garden are depreciated over the remaining life of the lease for the building (31 years). Other building work is capitalised where it is considered that future economic benefits in excess of the originally assessed standard of performance will flow as a result of that work. h) Stock Stock is valued at the lower of cost or net realisable value.

Financial statements

Yearbook 2012 |2013

71

Notes to the financial statements continued

i) Heritage assets Heritage assets are those assets of historical, artistic or scientific importance that are held to advance the preservation, conservation and educational objects of the Museum. The Museum collections consist of around 450,000 items and are on loan from TfL. Assets on loan are not capitalised within these financial statements although expenditure relating to their use and maintenance is included in Revenue Expenditure. j) Funds structure Restricted funds are funds to be used for particular purposes laid down by the donors or which have been raised for a specific purpose.

Unrestricted funds are funds available for use at the discretion of the Trustees in furtherance of the Museum’s charitable objectives.

2. Voluntary income 2013 Unrestricted £000

2013 Restricted £000

2013 Total £000

2012 Total £000

5,787

-

5,787

5,785

Clear Channel

28

-

28

275

Seconded staff

25

-

25

59

Core grant from TfL Donated services

Donations Donations, grants and Gift Aid

k) Pensions The Museum operates a pension scheme providing benefits based on final pensionable pay. The assets of the scheme are held separately from those of the Museum. The charity is unable to identify its share of the underlying assets and liabilities of the scheme on a consistent and reasonable basis and therefore, as permitted by the multi-employer exemption in FRS 17 ‘Retirement Benefits’, it is accounted for as if it were a defined contribution scheme. As a result, the amount charged to the Statement of Financial Activities represents the contributions payable to the scheme in respect of the accounting period. The disclosures required under FRS 17 are given in Note 19. l) Related party transactions Except in so far as disclosed in Note 20, the Museum has taken advantage of the exemption set out in FRS 8 not to disclose any transactions with other TfL Group undertakings. m) Taxation The Museum is exempt from tax in respect of its income which is applied to its charitable activities.

72

Financial statements

Yearbook 2012 |2013

237

153

6,077

6,272

2013 Unrestricted £000

2013 Restricted £000

2013 Total £000

2012 Total £000

2,084

-

2,084

1,757

472

-

472

424

28

-

28

74

271

-

271

183 438

Retail sales Other trading activities Corporate hire Catering income Commercial sponsorships Other activities to generate funds Fundraising events and sponsorships Other miscellaneous income Total

663

-

663

37

988

1,025

106

3,555

988

4,543

2,982

2013 Restricted £000

2013 Total £000

2012 Total £000 1,384

Other Miscellaneous Income includes £818,000 from the one-off sale of surplus posters.

4. Incoming resources from charitable activities (a) Analysis by source of incoming resources

Group and Museum

2013 Unrestricted £000

Museum admissions

1,561

-

1,561

Arts Council England

-

392

392

792

1,100

-

1,100

1,043

Safety and Citizenship income

n) Cash flow The company has taken advantage of the exemption from preparing a cash flow statement under the terms of FRS1 ‘Cash Flow Statements’ (revised 1996) as the company’s results are included in the audited consolidated financial statements of Transport Trading Limited for the year ended 31 March 2013 (intermediate parent entity and the smallest group to consolidate these financial statements).

100 100

3. Activities for generating funds

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes.

The purposes and uses of the funds held in each of these categories are given in Note 16.

137 5,977

Total

Grants for exhibitions

79

-

79

35

Heritage Lottery Fund

-

391

391

59

54

11

65

54

-

60

60

85

300

77

377

42

3,094

931

4,025

3,494

Grants for skills and employability activities Luke Rees-Pulley Charitable Trust grants Other miscellaneous charitable income Total

Financial statements

Yearbook 2012 |2013

73

Notes to the financial statements continued

4. Incoming resources from charitable activities continued

6. Shared support cost allocation

(b) Analysis by type of charitable activity

Group and Museum Museum admissions Arts Council England

2013 Education and engagement £000

2013 Access and museum operations £000

2013 Heritage and collections £000

2013 Total

2012 Total

£000

£000

-

1,561

-

1,561

1,384

383

-

9

392

792

1,100

-

-

1,100

1,043

Grants for exhibitions

-

-

79

79

35

Heritage Lottery Fund

-

-

391

391

59

Grants for skills and employability activities

65

-

-

65

54

Luke Rees-Pulley Charitable Trust grants

60

-

-

60

85

Other miscellaneous charitable income

245

28

104

377

42

1,853

1,589

583

4,025

3,494

Safety and Citizenship income

Total

Premises and facilities

2013

2013

Education and engagement

Access and museum operations

£000

£000

2013

2013

2013

Heritage Activities to generate and funds collections

Total

£000

£000

£000

1,419

1,642

772

225

4,058

Finance and management

364

421

198

58

1,041

Marketing

135

155

73

20

383

Systems

124

144

68

20

356

Design and presentation

119

138

65

19

341

Total cost 2013

2,161

2,500

1,176

342

6,179

Total cost 2012

2,417

2,655

1,482

177

6,731

Management fees and charges of £1,047,000 (2012: £939,000) were charged to the trading subsidiary during the year.

7. Governance costs 5. Resources expended 2013

2013

2012

Direct costs Apportioned support costs

2013

Total

Total

£000

£000

£000

£000

858

-

858

715

1,680

-

1,680

1,397

427

342

769

676

Education and engagement

1,858

2,161

4,019

4,235

Access and museum operations

1,488

2,500

3,988

4,171

Heritage and collections

1,010

1,176

2,186

2,638

44

-

44

71

7,365

6,179

13,544

13,903

Costs of generating funds Costs of goods sold Other trading subsidiary costs Costs of other activities to generate funds

2013 Group £000

2012 Group £000

2013 Museum £000

2012 Museum £000

External audit

31

32

27

27

Consultancy

6

-

6

-

Systems

-

24

-

24

Other

7

15

7

15

Total

44

71

40

66

Charitable activities

Governance Total

The costs of other activities to generate funds include the costs of generating voluntary income and core funding.

74

Financial statements

Yearbook 2012 |2013

Financial statements

Yearbook 2012 |2013

75

Notes to the financial statements continued

The Managing Director is the only paid director and received emoluments from the Museum, including salary, fees, benefits in kind and other emoluments totalling £88,330 (2012: £89,425). In addition, the Museum made contributions totalling £29,191 (2012: £24,475) to the TfL Pension Fund, a defined benefit scheme, on behalf of the Managing Director for the year.

8. Trading subsidary The Museum has a single subsidiary company, London Transport Museum (Trading) Limited (LTMTL), having an issued share capital of £1, wholly owned by London Transport Museum Limited.

LTMTL undertakes retail operations, venue hire, commercial sponsorships and the Museum corporate membership scheme.

2013 £000

2012 £000

3,237

2,600

(2,467)

(2,117)

770

483

(770)

(483)

Profit/(loss) before taxation

-

-

Taxation

-

-

Result for the year

-

-

2013 £000

2012 £000

Stock

941

690

Debtors

625

958

1,597

273

3,163

1,921

(2,999)

(1,837)

164

84

The number of employees whose emoluments amounted to over £60,000 in the year is given below. The increase in the number of employees was due to the effect of collectively bargained wage settlements on the salaries of existing staff.

LTMTL profit and loss account Turnover Cost of operations Operating profit Gift Aid payable to London Transport Museum

LTMTL balance sheet Current assets

Cash

Falling due within one year (including Gift Aid to LTM)

Creditors Falling due after one year Net assets

(164)

(84)

-

-

9. Staff costs and staff numbers (a) Total remuneration 2013 £000

2012 £000

3,509

3,568

252

290

Group 2012 No.

£60,000 - £70,000

1

2

£70,001 - £80,000

2

-

£80,001 - £90,000

1

1

Contributions to the defined benefit pension scheme were made in respect of the four higher paid employees and amounted to £86,705 (2012: three employees, £63,082). (b) Other than the Managing Director, none of the Trustees received any remuneration for their services. Reimbursements of Trustees’ travel expenses which totalled £230 (2012: £213) were made in the year. (c) The average number of persons (full-time equivalents) employed during the year was: Group 2013 FTE

Group 2012 FTE

Education and engagement

21.2

21.9

Access and museum operations

23.4

24.0

Heritage and collections

11.0

13.4

Activities to generate funds

18.0

16.5

Premises and facilities

7.0

7.5

Finance and management

7.0

8.5

Marketing

1.0

1.5

Systems

2.0

2.5

Design and presentation

2.0

2.5

92.6

98.3

0.6

1.5

Creditors Net current assets

Group 2013 No.

Support functions

Total Plus seconded staff

Group and Museum Wages and salaries Social security costs Pension costs Total

696

847

4,457

4,705

The wages and salaries figure includes £25,000 (2012: £59,000) of costs relating to staff seconded to the Museum from TfL. 76

Financial statements

Yearbook 2012 |2013

Financial statements

Yearbook 2012 |2013

77

Notes to the financial statements continued

10. Net income

13. Cash

This is stated after charging: 2013 £000

2012 £000

1,299

1,280

26

27

Audit - subsidiary company

5

5

Audit - other consultancy

-

-

979

968

38

44

3

-

Plant and equipment £000

Total

Depreciation Auditor’s remuneration Audit - company

Operating lease rentals - Buildings Operating lease rentals - Office equipment Operating lease rentals - Plant

2013 Group £000

2013 Museum £000

2012 Museum £000

Held in current accounts and in hand

779

819

685

546

Held in short term deposit accounts

2,901

3,500

1,398

3,500

Total

3,680

4,319

2,083

4,046

2013 Group £000

2012 Group £000

2013 Museum £000

2012 Museum £000

Trade creditors

196

314

147

291

TfL Group creditors

1,890

14. Creditors (a) Creditors: amounts falling due within one year

Additional audit over-run fees of approximately £10,000 will be incurred in 2013/14.

11. Tangible fixed assets Property and buildings £000

2012 Group £000

613

1,169

567

Taxation

84

7

7

9

Group and Museum

Accruals

2,097

1,232

995

967

Cost

Total

2,990

2,722

1,716

3,157

2012 Group £000

2013 Museum £000

2012 Museum £000

At 1 April 2012

£000

30,725

29,927

798

2,200

-

2,200

32,127

798

32,925

At 1 April 2012

4,682

410

5,092

Charge for the year

1,186

113

1,299

5,868

523

6,391

Net book value at 31 March 2013

26,259

275

26,534

Net book value at 31 March 2012

25,245

388

25,633

Additions At 31 March 2013

(b) Creditors: amounts falling due after more than one year 2013 Group £000

Accumulated depreciation

At 31 March 2013

Accruals

164

84

-

-

Total

164

84

-

-

2013 Group £000

2012 Group £000

2013 Museum £000

2012 Museum £000

15. Provisions 12. Debtors 2013 Group £000

2012 Group £000

2013 Museum £000

2012 Museum £000

Trade debtors

500

174

-

-

Brought forward

Sundry debtors

99

110

73

-

Charge for year

TfL Group debtors

616

124

592

100

Prepayments and accrued income

535

143

497

307

Taxation

-

76

-

114

Amounts owed by subsidiary undertakings

-

-

1,688

1,420

1,750

627

2,850

1,941

Total

78

Financial statements

Yearbook 2012 |2013

Costs of restructuring

Utilised Carried forward

-

-

-

-

171

-

171

-

-

-

-

-

171

-

171

-

The provision has been created in anticipation that costs associated with reorganisation will be incurred in 2013/14 .

Financial statements

Yearbook 2012 |2013

79

Notes to the financial statements continued

Restricted funds The Luke Rees-Pulley Charitable Trust supports the Museum’s family resource packs and provides funding for a learning officer.

16. Statement of group funds (a) The movements on funds are as follows: Group and Museum

1 April 2012 £000’s

Income Expenditure

Transfers

£000

£000

£000

31 March 2013 £000

25,633

-

(1,299)

2,200

26,534

The proceeds of the sale of duplicate posters are held in the Collections Development Fund for use in future acquisitions, restorations and other collections-based activity.

Unrestricted Funds Designated Funds Capital Fund Future exhibitions and education Museum development Total Designated Funds General funds Total Unrestricted Funds

500

-

(100)

100

500

2,000

-

-

(500)

1,500

28,133

-

(1,399)

1,800

28,534

300

12,642

(11,020)

(1,718)

204

28,433

12,642

(12,419)

82

28,738

The Tube 150 Legacy Fund is a long-term fund that has a negative fund balance at the year end. The individual giving campaign supporting the restoration and ongoing operation of Met loco No.1 is continuing, and further steam train operations have already begun to raise additional income since the balance sheet date. (b) Analysis of group net assets between funds Unrestricted funds £000

Restricted Funds Luke Rees-Pulley Charitable Trust

116

60

(61)

-

115

15

-

(15)

-

-

6

6

(10)

-

2

Met 353 Carriage

(42)

391

(257)

-

92

Tube 150 Legacy

(65)

66

(171)

-

(170)

-

11

(6)

-

5

Skills and Employability Happy Museum

Primary School Sessions Arts Council England

-

553

(553)

-

-

HLF Battlebus

-

14

(19)

-

(5)

DCMS/Wolfson

-

100

(18)

(82)

-

Collections Development Total Restricted Funds Total Funds

-

818

(15)

-

803

30

2,019

(1,125)

(82)

842

28,463

14,661

(13,544)

-

29,580

Restricted funds £000

Total

26,534

-

26,534

5,384

987

6,371

(3,016)

(145)

(3,161)

£000

Fund balances as at 31 March 2013 represented by Fixed assets Current assets Current liabilities Long-term liabilities

(164)

-

(164)

Total net assets

28,738

842

29,580

Total net assets at 31 March 2012

28,433

30

28,463

2013 Other

2012 Other

£000

£000

17. Operating leases At 31 March 2012 the Museum has annual commitments as follows: 2013 Land and Buildings £000

2012 Land and Buildings £000

Designated funds The Capital Fund represents the net book value of the Museum’s tangible fixed assets.

Expiry date

Improvements to the Museum’s premises and facilities totalling £2.2m were met by transfers from the Museum Development Fund (£1.9m), the DCMS/Wolfson restricted fund (£0.1m) and general funds (£0.2m).

Between 1 and 2 years

-

-

3

3

Between 2 and 5 years

-

-

38

64

978

978

-

-

A transfer of £1.4m was made from general funds into the Museum Development Fund to maintain the fund in the target range.

Over 5 years

18. Called up share capital 2013 £

2012 £

1

1

1

1

Authorised 1 ordinary share of £1 Alloted, issued and fully paid up 1 ordinary share of £1

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Notes to the financial statements continued

19. Pensions Background The Museum offers retirement plans to its employees. The majority of the Museum’s staff are members of the Public Sector Section of the TfL Pension Fund, which is a final salary scheme established under trust. Benefits are based on employees’ length of service and final pensionable pay. The Fund’s Trustee is the TfL Trustee Company Limited, a wholly owned subsidiary of Transport for London. Under the rules of the Fund, its 18 trustee directors are nominated in equal numbers by Transport for London and on behalf of the Fund’s membership.

Every three years, the TfL Pension Fund’s Actuary makes valuations and recommends the level of contributions to be made by the participating employers to ensure longterm solvency of the Fund. The latest formal funding valuation of the Fund was carried out as at 31 March 2012 by the Actuary, a partner of consulting actuaries Towers Watson, using the projected unit method, and reported a funding deficit for the Public Sector Section of £1.2 billion.

A revised Schedule of Contributions was agreed between the Trustee and the employers following the 2012 valuation of the TfL Pension Fund. For the Public Sector Section, employer’s contributions for the period from 1 April 2012 until 31 May 2021 will continue to be 31.0%, with additional lump sum payments due in 2018 and 2019.

Accounting The Museum’s ultimate parent, Transport for London, and the Museum’s fellow subsidiaries participate in the Public Sector Section of the TfL Pension Fund. Because the Museum is unable to identify its share of the underlying assets and liabilities on a consistent and reasonable basis, as permitted by FRS 17 ‘Retirement Benefits’, the Museum treats contributions to the Public Sector Section as if they were contributions to a defined contribution plan. The Museum’s contributions to the Fund of £696,079 (2011/12: £847,104) have been charged to the income and expenditure account.

20. Related and connected party transactions Transport for London London Transport Museum Limited is a charitable subsidiary company of Transport Trading Limited (TTL), a Transport for London Group company. TfL provides financial assistance to the Museum in the form of a core grant for Museum operations and, in addition, certain divisions of TfL provide financial support to the Safety and Citizenship Programme and other Museum operations as agreed on a project by project basis.

TfL Group companies receive discounts on the hire of Museum facilities. All TfL staff receive free entry to the Museum and discounts in the Museum shop.

Under FRS 8 ‘Related Party Disclosures’ the Museum is exempt from disclosing transactions with other TfL Group undertakings but a summary of the total value of transactions with TfL is given below.

Related party transactions with TfL

Income Expenditure £000 £000

Core grant and capital grant

5,787

Other income

1,277

-

-

327

Group services provided Other material related party transactions in the year (a) London Transport Museum Friends

-

Income Expenditure £000 £000 173 17

(b) Four Communications

-

7

(a) LTM Trustee Ian Arthurton is Chairman of the London Transport Museum Friends (b) LTM Trustee Jeremy Fraser is a director of Four Communications Group plc.

As at 31 March 2013 there were no amounts outstanding in respect of transactions (a) and (b) above.

In addition to the transactions above, LTM Trustee Phil Swallow is a major shareholder in the Severn Valley Railway which was used for testing the Met No.1 loco this year at no charge in a quid pro quo deal which will see the loco being displayed at Severn Valley at a later date. No financial entries have been made for this arrangement.

21. Legal status and Ultimate Holding Company LTM is a company limited by share and a wholly owned subsidiary company of TTL, the holding company for all the operating companies controlled by Transport for London. The sahre capital of the company is 1 ordinary share of £1.

LTM’s Memorandum of Association states ‘the property and funds of the Charity must be used only for promoting the Objects and no dividends shall be paid to the Member’.

The Museum receives benefit from the activities of TfL Group functions such as Finance, Human Resources, Internal Audit and Payroll. Where management fees are levied upon the Museum by TfL and TTL for services provided these are applied at the same rates as for all other TfL Group companies.

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Design by LTM Design Compiled by Chris Gilbert Editor Mark Kilfoyle All images Š London Transport Museum and Transport for London, except where noted.

Front cover: Met locomotive No.1 at Farringdon, January 2013 (photo by Jack Hawkins).

Opposite: Steam returns as part of the 150th anniversary of the Underground (photo by Alan Price for Firstscene Images).

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Š London Transport Museum 2013

London Transport Museum Covent Garden Piazza London WC2E 7BB Tel +44 (0)20 7379 6344 London Transport Museum Ltd Charity number 1123122 Company number 6495761 Registered address: Windsor House 42–50 Victoria Street London SW1H 0TL

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London Transport Museum Yearbook 2012 | 2013

London Transport Museum (Trading) Ltd Company number 6527755 Registered address: Windsor House 42–50 Victoria Street London SW1H 0TL

Yearbook 2012 | 2013