The Underground's assets remain on LUL's balance sheet under the PPP contracts. To accurately account for them, the Infracos are required to provide LUL with detailed information on how their work has increased the value of the assets each period.
In addition, the Infracos are required to give LUL further information about their cash and revenues so as to allow LUL to monitor the Infracos' overall financial position: this information includes periodic management accounts. In the case of Tube Lines, LUL and Tube Lines have agreed that additional financial information will be provided-this was agreed in the context of the recent refinancing.