wk-2025-12-31-ixbrl

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Amey Public Services LLP

Strategic ReportAnnual Report and Financial Statements 2025

Strategic Report for the year ended 31 December 2025

The Members present their Strategic Report for the year ended 31 December 2025.

Ultimate parent undertaking

The LLP is a member of the Amey UK Limited group and is owned by a company (Project Ardent Bidco Limited) controlled

by One Equity Partners and Buckthorn Partners, private equity investors.

Principal activity

Amey Public Services Limited Liability Partnership (the LLP) held a contract with North Lanarkshire Council for highways

management. The delivery of service under the contract came to an end in October 2024 and the LLP has no other

activities. There have been no changes to the LLP’s activities during the year.

Review of business and future developments

The statement of comprehensive income for the year is set out on page 9 and shows revenue of £389,000 (2024 -

£19,088,000) and a profit after tax amounting to nil (2024 – £1,437,000), all of which arose from discontinued activities.

The Company saw a decrease of 98.0% in revenue year-on-year due to the ending of the contract in October 2024. The

LLP will remain active whilst residual contractual matters are resolved.

There have been no events since the balance sheet date which materially affect the position of the LLP.

Key performance indicators

The LLP’s principal key performance indicators are revenue and profit for the financial year which are shown in the

statement of comprehensive income for the year set out on page 9.

Principal risks and uncertainties

The LLP’s risks and other key performance indicators are reported and managed on a Divisional basis. To gain a further

understanding of this business, details of the principal risks and uncertainties are contained in the Annual Report and

Financial Statements of the intermediate parent undertaking, Amey UK Limited (‘the Group’), for the year 31 December

2025. The LLP is a member of the Transport Infrastructure division of the Group.

Financial risk management

A discussion of the objectives and policies employed in managing risk and the LLP’s use of financial instruments can be

found in the Amey UK Limited Annual Report and Financial Statements for the year ended 31 December 2025 as the LLP is

subject to the application of Group-wide policies and practices when assessing financial risk.

The LLP does not hold any cash flow hedge derivative financial instruments. There is no material financial risk arising on the

assets and liabilities held by the LLP.

Approved on behalf of the Members and signed on their behalf by:

.........................................

K J Jarvey

Management Committee Member

1 July 2026

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Amey Public Services LLP

Report of the MembersAnnual Report and Financial Statements 2025

Report of the Members for the year ended 31 December 2025

The Members present their Report together with the audited financial statements of the LLP for the year ended

31 December 2025.

Strategic Report

Details of future developments and financial risk management can be found in the Strategic Report on page 2 and forms

part of this report by cross reference.

Designated Members

The Designated Members (together ‘the Members’) during the year, and up to the date of this report, were:

Amey LG Limited

North Lanarkshire Council

The Members have delegated their powers of managing and coordinating the affairs of the LLP to the Management

Committee.

Energy and Carbon Performance

The LLP has taken exemption from reporting on Energy and Carbon Performance as this information is included in the

consolidated Annual Report and Financial Statements of Amey UK Limited, of which this LLP is a member. Full disclosure

can be found in the Amey UK Limited Annual Report and Financial Statements for 2025.

Management Committee

The Members of the Management Committee of the LLP during the year, and up to the date of this report, were:

K J Jarvey

M McPake

A McPherson

Transactions with Members

The Members participate fully in the LLP’s profits and losses, share the risks, and subscribe to the LLP’s capital.

The LLP’s drawings policy allows Members to draw down the profits credited to it in the Member current account

immediately after such profits have been credited, subject to such reasonable and proper reserve being retained for

working capital requirements and other liabilities of the LLP as the Management Committee may consider reasonable.

Going concern

As discussed in note 2 to the financial statements, as a consequence of the LLP's principal contract coming to an end in

2024, the financial statements are prepared on a basis other than going concern. This has no impact on the value of assets

or liabilities on the balance sheet at 31 December 2025. The LLP benefits from the support of the Amey Group, including

cash pooling facilities. Any shortfall in the LLP's ability to meet their liabilities as they fall due would be met by the Amey

Group.

Policy on slavery and human trafficking

In accordance with the Modern Slavery Act 2015, the Amey Group of which this LLP is a member, is committed to ensuring

that there is no modern slavery or human trafficking in our supply chains, or in any part of our business, with a zero

tolerance for non-compliance. A full statement reflecting that commitment can be found on the Amey website

www.amey.co.uk and an abridged statement is included in the financial statements of the Company's intermediate parent

company, Amey UK Limited.

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Amey Public Services LLP

Report of the MembersAnnual Report and Financial Statements 2025

Statement as to disclosure of information to the auditor

All of the current Members have taken all the steps that they ought to have taken to make themselves aware of any

information needed by the LLP’s Auditor for the purposes of the audit and to establish that the Auditor is aware of that

information. The Members are not aware of any relevant audit information of which the Auditor is unaware. This

confirmation is given and should be interpreted in accordance with the provisions of the Limited Liability Partnership

(Financial Statements and Audit) (Application of Companies Act 2006) Regulations 2008.

Auditors

Forvis Mazars LLP has been appointed as Auditor and has expressed their willingness to continue in office as Auditor. In

accordance with s487 of the Companies Act 2006, Forvis Mazars LLP will be re-appointed as Auditor to the LLP.

Approved on behalf of the Members and signed on their behalf by:

.........................................

K J Jarvey

Management Committee Member

1 July 2026

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Amey Public Services LLP

Members’ Responsibilities StatementAnnual Report and Financial Statements 2025

Members’ Responsibilities Statement

The Members are responsible for preparing the Annual Report and the financial statements in accordance with applicable

law and regulations.

The Limited Liability Partnerships (Accounts & Audit) (Application of Companies Act 2006) Regulations 2008 require the

members to prepare financial statements for each financial year. Under that law the members have elected to prepare the

financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom

Accounting Standards and applicable law), including FRS 101 “Reduced Disclosure Framework”. The financial statements are

required by law to give a true and fair view of the state of affairs of the firm and of the profit or loss of the firm for that

period.

In preparing these financial statements, the Members are required to:

• select suitable accounting policies and then apply them consistently;

• make judgments and estimates that are reasonable and prudent; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will

continue in business.

The members are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time

the financial position of the firm and enable them to ensure that the financial statements comply with the Limited Liability

Partnership (Financial Statements and Audit) (Application of Companies Act 2006) Regulations 2008. They are also

responsible for safeguarding the assets of the firm and hence for taking reasonable steps for the prevention and detection

of fraud and other irregularities.

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Amey Public Services LLP

(co

Independent auditor's reportAnnual Report and Financial Statements 2025

Independent Auditor’s report to the members of Amey Public Services LLP

Opinion

We have audited the financial statements of Amey Public Services LLP (the 'LLP') for the year ended 31 December 2025

which comprise the Statement of Comprehensive Income, the Balance Sheet, The Statement of Changes in Members'

Interests, the Statement of Cash Flows and notes to the financial statements, including a summary of material policy

information.

The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom

Accounting Standards, including Financial Reporting Standard 101 'Reduced Disclosure Framework' (United Kingdom

Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• give a true and fair view of the state of the LLP's affairs as at 31 December 2025 and of its result for the year then

ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006, as applied to limited liability

partnerships.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our

responsibilities under those standards are further described in the “Auditor’s responsibilities for the audit of the financial

statements” section of our report. We are independent of the LLP in accordance with the ethical requirements that are

relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our

other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is

sufficient and appropriate to provide a basis for our opinion.

Emphasis of Matter – Financial statements prepared on a basis other than Going concern

We draw attention to note 2 to the financial statements which explains that the entity has ceased trading and the directors

therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial

statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in

note 2. Our opinion is not modified in respect of this matter.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our

auditor’s report thereon. The members are responsible for the other information contained within the annual report. Our

opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly

stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially

inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be

materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to

determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work

we have performed, we conclude that there is a material misstatement of this other information, we are required to report

that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to

report to you if, in our opinion:

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from

branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of members’ remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

•

Responsibilities of Members

As explained more fully in the members’ responsibilities statement set out on page 5, the members are responsible for the

preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal

control as the Members determine is necessary to enable the preparation of financial statements that are free from material

misstatement, whether due to fraud or error.

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Amey Public Services LLP

(co

Independent auditor's reportAnnual Report and Financial Statements 2025

Responsibilities of Members (continued)

In preparing the financial statements, the members are responsible for assessing the LLP’s ability to continue as a going

concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless

the Members either intend to liquidate the LLP or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material

misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable

assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will

always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered

material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users

taken on the basis of the financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with

our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

Based on our understanding of the LLP and its industry, we considered that non-compliance with the following laws and

regulations might have a material effect on the financial statements: health and safety regulation, anti-money laundering

regulation, the Bribery Act, the Finance Act, climate change regulations on financial reporting, Modern Slavery Act and

environmental laws.

To help us identify instances of non-compliance with these laws and regulations, and in identifying and assessing the risks

of material misstatement in respect to non-compliance, our procedures included, but were not limited to:

• Inquiring of management and, where appropriate, those charged with governance, as to whether the LLP is in compliance

with laws and regulations, and discussing their policies and procedures regarding compliance with laws and regulations;

• Inspecting correspondence, if any, with relevant licensing or regulatory authorities;

• Communicating identified laws and regulations to the engagement team and remaining alert to any indications of non-

compliance throughout our audit; and

• Considering the risk of acts by the LLP which were contrary to applicable laws and regulations, including fraud

We also considered those laws and regulations that have a direct effect on the preparation of the financial statements, such

as tax legislation, pension legislation and the Companies Act 2006, as applied to limited liability partnerships.

In addition, we evaluated the members' and management’s incentives and opportunities for fraudulent manipulation of the

financial statements, including the risk of management override of controls, and determined that the principal risks related

to: posting manual journal entries to manipulate financial performance, management bias through judgements and

assumptions in significant accounting estimates and significant one-off or unusual transactions.

Our audit procedures in relation to fraud included but were not limited to:

• Making enquiries of the members and management on whether they had knowledge of any actual, suspected or alleged

fraud;

• Gaining an understanding of the internal controls established to mitigate risks related to fraud

• Discussing amongst the engagement team the risks of fraud; and

• Addressing the risks of fraud through management override of controls by performing journal entry testing.

There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and

detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection

of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal

controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting

Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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Amey Public Services LLP

(co

Independent auditor's reportAnnual Report and Financial Statements 2025

Use of the audit report

This report is made solely to the LLP’s members as a body in accordance with Chapter 3 of Part 16 of the Companies Act

2006 as applied to limited liability partnerships. Our audit work has been undertaken so that we might state to the LLP’s

members those matters we are required to state to them 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 LLP and the LLP’s members as

a body for our audit work, for this report, or for the opinions we have formed

.............................................

Justin Rodrigues (Senior Statutory Auditor)

For and on behalf of Forvis Mazars LLP

Chartered Accountants and Statutory Auditor

30 Old Bailey

London, EC4M 7AU

1 July 2026

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Amey Public Services LLP

Statement of Comprehensive IncomeAnnual Report and Financial Statements 2025

Statement of Comprehensive Income for the year ended 31 December 2025


		2025	2024
	Note	£'000	£'000
Revenue	4	389	19,088
Cost of sales		(389)	(17,643)
Gross profit		—	1,445
Operating profit	5	—	1,445
Finance expense	6	—	(8)
Profit for the financial year before Members remuneration and profit share		—	1,437
Total comprehensive income		—	1,437
Members’ remuneration and profit share charged as expense		—	(1,437)
Profit or the financial year available for discretionary division amongst Members		—	—

The notes on pages 13 to 24 form part of these financial statements.

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Amey Public Services LLP

Balance SheetAnnual Report and Financial Statements 2025

Amey Public Services LLP (LLP Number: OC359192)

Balance Sheet as at 31 December 2025


		2025	2024
	Note	£'000	£'000
Current assets
Debtors: amounts falling due within one year	8	280	1,501
Cash at bank and in hand		49	273
Total Current assets		329	1,774
Creditors: amounts falling due within one year	9	(4,743)	(6,188)
Net current liabilities		(4,414)	(4,414)
Total assets less current liabilities		(4,414)	(4,414)
Provisions for liabilities	10	(350)	(350)
Net liabilities		(4,764)	(4,764)
Represented by:
Loans and other debts due to Members within one year:
Members’ current accounts classified within liabilities		(4,765)	(4,765)
Total loans and other debts due to Members within one year	11	(4,765)	(4,765)
Members’ other interests:
Members’ capital classified as equity	12	1	1
Shareholders’ funds		1	1
		(4,764)	(4,764)

The notes on pages 13 to 24 form part of these financial statements.

The financial statements were approved by the Board of Members on 1 July 2026 and signed on its behalf by:

.........................................

K J Jarvey

Management Committee Member

1 July 2026

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Amey Public Services LLP

Statement of Changes in Members' InterestsAnnual Report and Financial Statements 2025

Statement of Changes in Members' Interests for the year ended

31 December 2025


	Members’ capital classified as equity	Members’ capital classified as a liability	Members’ current Financial Statements classified within liabilities	Total
	£'000	£'000	£'000	£'000
Amounts due to members at 31 December 2023	1	6,267	—	6,268
Amounts due from members at 31 December 2023	—	—	(6,202)	(6,202)
Members' interest at 1 January 2024	1	6,267	(6,202)	66
Members’ remuneration and loss share credited as expense	—	—	1,437	1,437
Members' interests after profit for the year	1	6,267	(4,765)	1,503
Repayment of Loans to Members	—	(6,267)	—	(6,267)
Members' interest at 31 December 2024	1	—	(4,765)	(4,764)


	Members’capital classified as equity	Members’ capital classified as a liability	Members’ current Financial Statements classified within liabilities	Total
	£'000	£'000	£'000	£'000
Amounts due to Members at 31 December 2024	1	—	—	1
Amounts due from Members at 31 December 2024	—	—	(4,765)	(4,765)
Members' interest at 1 January 2025	1	—	(4,765)	(4,764)
Members’ remuneration and profit share credited as income	—	—	—	—
Members' interests after profit for the year	1	—	(4,765)	(4,764)
Members' interest at 31 December 2025	1	—	(4,765)	(4,764)


	Members’capital classified as equity	Members’ capital classified as a liability	Members’ current Financial Statements classified within liabilities	Total
	£'000	£'000	£'000	£'000
Amounts due to Members at 31 December 2025	1	—	—	1
Amounts due from Members at 31 December 2025	—	—	(4,765)	(4,765)
Members' interest at 31 December 2025	1	—	(4,765)	(4,764)

The notes on pages 13 to 24 form part of these financial statements.

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Amey Public Services LLP

Statement of Cash flowsAnnual Report and Financial Statements 2025

Statement of Cash flow for the year ended 31 December 2025


		2025	2024
	Note	£'000	£'000
Net cash flow from operating activities	13	(224)	6,383
Transactions with Members:
Loans repaid to Members		—	(6,267)
Net cash flow before investing and financing activities		(224)	116
Financing activities:
Lease principal repayments		—	(137)
Interest paid		—	(8)
		—	(145)
Decrease in cash for the year	14	(224)	(29)

The notes on pages 13 to 24 form part of these financial statements.

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Amey Public Services LLP

Notes to the Financial StatementsAnnual Report and Financial Statements 2025

Notes to Financial Statements for the year ended 31 December 2025

1. General Information

The Limited Liability Partnership (‘LLP’) held a contract with North Lanarkshire Council for highways management. The

contract came to an end in October 2024 and the LLP has no other activities. The LLP is a limited liability partnership and is

registered in England and Wales and domiciled in the UK. The registered office is Chancery Exchange, 10 Furnival Street,

London, EC4A 1AB, United Kingdom.

2. Accounting Policies

Basis of preparation

The financial statements of the LLP have been prepared in accordance with Financial Reporting Standard 101 ‘Reduced

Disclosure Framework’ (FRS 101), the historical cost convention and in accordance with The Limited Liability Partnerships

(Financial Statements and Audit) (Application of the Companies Act 2006) Regulations 2008.

These financial statements have been prepared in accordance with Financial Reporting Standard 101 'Reduced Disclosure

Framework' and the Limited Liability Partnership (Financial Statements and Audit) (Application of Companies Act 2006)

Regulations 2008. The financial statements have been prepared under the historical cost convention.

The following amendments to existing standards were effective for the LLP from 1 January 2025. These amendments have

not had a material impact.

StandardEffective date

Amendments to IAS21 - Lack of Exchangeability 01 January 2025

The new standards, amendments and interpretations approved by the IASB and for use in the United Kingdom at 31

December 2025 but which are not applicable at this date are as follows:

StandardEffective date

IFRS 18 - Presentation and Disclosure in Financial Statements01 January 2027

IFRS 19 - Subsidiaries without Public Accountability: Disclosures 01 January 2027

IFRS 11 - Joint Arrangements 01 January 2026

IFRS 9 - Financial Instruments 01 January 2026

IFRS 7 - Financial Instruments: Disclosures 01 January 2026

Annual Improvements to IFRS Accounting Standards - Volume 1101 January 2026

The Company has not adopted these new standards, amendments and interpretations early for the year ended 31

December 2025 but will adopt them in line with the commencement date stated above. With the exception of IFRS 18, they

are not expected to have a significant impact on the company.

To understand the impact of IFRS 18, the Amey Group has carried out an assessment during the year. This assessment

highlighted a number of key areas for management to consider ahead of the January 2027 commencement date. No areas

of significant change were identified, with the findings being deemed to require moderate or mild level work input.

Management will work through these findings during 2026 in readiness.

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Amey Public Services LLP

Notes to the Financial StatementsAnnual Report and Financial Statements 2025

2. Accounting Policies (continued)

Summary of disclosure exemptions

The following exemptions from the requirements of International Financial Reporting Standards (IFRS) and International

Accounting Standards (IAS) have been applied in the preparation of these financial statements, in accordance with FRS 101:

• the requirements of paragraphs 45(b) and 46 to 52 of IFRS 2 Share-based Payment;

• the requirements of paragraphs 62, B64(d), B64(e), B64(g), B64(h), B64(j) to B64(m), B64(n)(ii), B64(o)(ii), B64(p),

B64(q)(ii), B66 and B67 of IFRS 3 Business Combinations;

• the requirements of paragraph 33(c) of IFRS 5 Non-Current Assets Held for Sale and Discontinued Operations;

• the requirements of IFRS 7 Financial Instruments: Disclosures;

• the requirements of paragraphs 91 to 99 of IFRS 13 Fair Value Measurement;

• the requirement in paragraph 38 of IAS 1 Presentation of Financial Statements to present comparative information in

respect of:

– paragraph 79(a)(iv) of IAS 1;

– paragraph 73(e) of IAS 16 Property, Plant and Equipment;

– paragraph 118(e) of IAS 38 Intangible Assets;

– paragraphs 76 and 79(d) of IAS 40 Investment Property;

• the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D and 111 of IAS 1 Presentation of

Financial Statements;

• the requirements of paragraphs 134 to 136 of IAS 1 Presentation of Financial Statements;

• the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors;

• the requirements of paragraphs 17 and 18A of IAS 24 Related Party Disclosures;

• the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or

more members of a group;

• IAS 36, ‘Impairment of assets’ paragraphs 134 and 135;

• IFRS 15, ‘Revenue from contracts with customers’: second sentence of paragraph 110, and paragraphs 113(a), 114, 115,

118, 119 (a) to (c), 120 to 127 and 129; and

• IFRS 16, ‘Leases’: paragraph 52, the second sentence of paragraph 89 and paragraphs 90, 91 and 93. Paragraph 58,

provided that the disclosure of details of indebtedness required by paragraph 61(c) of Schedule 1 of the Regulations is

presented separately for lease liabilities and other liabilities in total.

Going concern

As a consequence of the Company's principal contract coming to an end in 2024, the financial statements are prepared on

a basis other than going concern. This has no impact on the value of assets or liabilities on the balance sheet at

31 December 2025. The members have also assessed the impact of preparing the financial statements on a basis other

than going concern, and have noted that existing accounting policies for assets, liabilities, income and expenses as

described in note 2, remain appropriate. The LLP benefits from the support of the Amey Group, including cash pooling

facilities. Any shortfall in the LLP's ability to meet their liabilities as they fall due would be met by the Amey Group.

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Amey Public Services LLP

Notes to the Financial StatementsAnnual Report and Financial Statements 2025

2. Accounting Policies (continued)

Other principal accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies

have been consistently applied to all the years presented, unless otherwise stated.

Revenue recognition

All revenue is accounted for under the requirements of IFRS 15 – Revenue from Contracts with Customers. Set out below

are specific details of the methods applied as part of this policy:

General revenue recognition criterion

The first step for revenue recognition purposes is to identify the contracts and the performance obligations contained

therein. The number of performance obligations that a contract has will depend on the type of contract and the activity. In

general, the performance obligations that the LLP engages in are satisfied over time and not at a specific point in time, since

the customer simultaneously receives and consumes the benefits provided by the entity’s performance as the service is

performed.

With respect to the method for recognising revenue over time (i.e. the method for measuring progress towards complete

satisfaction of a performance obligation), the LLP has established certain criteria that are applied consistently for similar

performance obligations. In this regard, the method chosen by the LLP to measure the value of goods or services for which

control is transferred to the customer over time is the output method; this method is applied provided that the progress of

the work performed can be measured on the basis of the contract and during its performance.

In contracts to provide different highly interrelated goods or services in order to produce a combined output, which is

habitually the case in contracts with a construction activity, the applicable output method is that of surveys of performance

completed to date (or measured unit of work), according to which revenue is recognised corresponding to the units of work

performed and on the basis of the price allocated thereto. Under this method, on a regular basis, the units of work

completed under each contract are measured and the corresponding output is recognised as revenue. Costs of work or

services projects performed are recognised on an accrual basis, and the costs actually incurred in completing the units

performed are recognised as an expense, together with those which, even though they are expected to be incurred in the

future, have to be allocated to the units of work completed to date.

Also, in routine or recurring service contracts (in which the services are substantially the same), such as maintenance and

cleaning services, which are transferred with the same pattern of consumption over time and whose remuneration consists

of a recurring fixed amount over the term of the contract (e.g. monthly or annual payment), in such a way that the customer

receives and consumes the benefits of the services as the entity provides them, the method selected by the LLP to

recognise revenue is the time elapsed output method. Under this method, revenue is recognised on a straight-line basis

over the term of the contract and costs are recognised on an accrual basis.

Lastly, only in those contracts that are not for routine or recurring services and for which the unitary price of the units to be

performed cannot be determined, use of the stage of completion measured in terms of the costs incurred (input method) is

permitted. Under this method, the entity recognises revenue based on the proportion that costs incurred to date bear to the

total costs expected to be incurred to complete the work, taking into account the expected margins of the whole project per

the latest updated budget. This method involves measuring the proportion of the costs incurred in the work completed to

date to the total costs envisaged and recognising revenue in proportion to total expected revenue. Under this method, the

proportion that contract costs incurred bear to the estimated total contract costs is used to determine the revenue to be

recognised, by reference to the estimated margin for the entire term of the contract. As indicated above, this method is only

applied to complex construction or service contracts with a fixed price (“lump sum”) in which it is not possible to break

down the units produced and measure them.

Recognition of revenue from contract modifications, claims and disputes

Contract modifications are defined as changes in the scope of the work, other than changes envisaged in the original

contract, that may result in a change in the revenue associated with that contract. Modifications to the initial contract

require the customer’s technical and financial approval before billings can be issued and the amounts relating to the

additional work can be collected. The LLP does not recognise the revenue from such additional work until the customer's

approval has been obtained. In cases where the additional work has been approved but the corresponding change in price

has not been determined, the requirement described below for variable consideration is applied: namely, to recognise

revenue for an amount with respect to which it is highly probable that a significant reversal will not occur. The costs

associated with these additional units or services performed are recognised when incurred, irrespective of whether or not

the modification has been approved.

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Amey Public Services LLP

Notes to the Financial StatementsAnnual Report and Financial Statements 2025

2. Accounting Policies (continued)

Revenue recognition (continued)

A claim is a request for payment or compensation from the customer (for example, for compensation, reimbursement of

costs, or a legally compulsory inflation review) that is made directly to the customer. The method followed by the LLP with

respect to claims is to apply the method described above for modifications, when the claims are not covered by the

contract, or the method used for variable consideration, when the claims are covered by the contract but need to be

quantified.

A dispute is the result of a disconformity or rejection following a claim made to the customer under the contract, the

resolution of which is dependent on a procedure conducted directly with the customer or a court or arbitration proceeding.

Per the criteria followed by the LLP, revenue relating to disputes in which the enforceability of the amount claimed is

questioned is not recognised, and previously recognised revenue is derecognised, since the dispute demonstrates the

absence of the customer’s approval of the work completed. If the customer only questions the price, revenue recognition is

based on the criterion applied in cases of variable consideration discussed below.

Only in those cases in which there is a legal report confirming that the rights under dispute are clearly due and enforceable

and that, therefore, at least the costs directly associated with the related service will be recovered, may revenue be

recognised up to the limit of the amount of the costs incurred.

(iii) Variable consideration

If the consideration promised in a contract includes a variable amount, this amount is recognised only to the extent that it is

highly probable that a significant reversal in the amount recognised will not occur when the uncertainty associated with the

variable consideration is subsequently resolved.

(iv) Balance sheet items relating to revenue recognition: amounts recoverable on contracts/payments received on account

Unlike the method used to recognise contract revenue, the amounts billed to the customer are based on achievement of the

various milestones established in the contract and on acknowledgement thereof by the customer, which takes the form of a

contractual document called “certificate of completion” or “work order”. Thus, the amounts recognised as revenue for a

given year do not necessarily coincide with the amounts billed to or certified by the customer. In the case of contracts in

which the goods or services transferred to the customer exceed the related amount billed or certified, the difference is

recognised (as a contract asset) in an asset account called “Amounts recoverable on contracts” under “Trade and other

receivables”, whereas in contracts in which the goods or services transferred are lower than the amount billed to or certified

by the customer, the difference is recognised (as a contract liability) in a liability account called “Deferred income” under

“Trade and other payables”.

Leases

The LLP as lessee

The LLP assesses whether a contract is or contains a lease at inception of the contract. The LLP recognises a right-of-use

asset and a corresponding lease liability with respect to all lease arrangements in which it is the lessee, except for short-

term leases (defined as leases with a lease term of 12 months or less) and leases of low value assets (less than £5,000). For

these leases, the LLP recognises the lease payments as an operating expense on a straight-line basis over the term of the

lease unless another systematic basis is more representative of the time pattern in which economic benefits from the

leased assets are consumed.

The lease liability is initially measured at the net present value of the future lease payments at the commencement date,

discounted using the rate implicit in the lease. If this rate cannot be readily determined, the LLP uses its incremental

borrowing rate. The LLP has taken advantage of the practical expedients available in IFRS 16 to apply a single discount rate

to a portfolio of leases.

The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using

the effective interest method) and by reducing the carrying amount to reflect the lease payments made.

The lease asset is initially measured at the net present value of the future lease payments at the commencement date,

discounted using the rate implicit in the lease. The asset is subsequently depreciated over the lease term.

2. Accounting Policies (continued)

Financial instruments

Recognition and de-recognition

Financial assets and financial liabilities are recognised when the LLP becomes a party to the contractual provisions of the

financial instrument. Financial assets are de-recognised when the contractual rights to the cash flows from the financial

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Amey Public Services LLP

Notes to the Financial StatementsAnnual Report and Financial Statements 2025

asset expire, or when the financial asset and substantially all the risks and rewards are transferred. A financial liability is de-

recognised when it is extinguished, discharged, cancelled or expires.

Classification and initial measurement of financial assets

Except for those trade receivables that do not contain a significant financing component, and which are measured at the

transaction price in accordance with IFRS 15, all financial assets are initially measured at fair value adjusted for applicable

transaction costs. Financial assets, other than those designated and effective as hedging instruments, are classified into the

following categories: amortised cost; fair value through profit or loss (FVTPL); or fair value through other comprehensive

income (FVOCI). The classification is determined by both the LLP’s business model for managing the financial asset and the

contractual cash flow characteristics of the financial asset.

Subsequent measurement of financial assets

(a) Financial assets at amortised cost - financial assets are measured at amortised cost if the assets meet the following

conditions (and are not designated as FVTPL): they are held within a business model whose objective is to hold the financial

assets and collect its contractual cash flows and the contractual terms of the financial assets give rise to cash flows that

are solely payments of principal and interest.

(b) Financial assets at FVTPL - financial assets that are held within a different business model other than 'hold to collect' or

'hold to collect and sell' are categorised at FVTPL. Further, irrespective of business model, financial assets whose

contractual cash flows are not solely payments of principal and interest are accounted for at FVTPL. All derivative financial

instruments fall into this category, except for those designated and effective as hedging instruments, for which the hedge

accounting requirements apply (see below).

conditions: they are held under a business model whose objective is ‘hold to collect’ the associated cash flows and the

contractual terms of financial assets give rise to cash flows that are solely payments of principal and interest. Any gains or

losses recognised in other comprehensive income (OCI) will be recycled upon de-recognition of the asset.

Impairment of financial assets

IFRS 9's impairment requirements use forward-looking information to recognise expected credit losses – the 'expected

credit loss (ECL) model'. Instruments within the scope of the requirements include loans and other debt-type financial

assets measured at amortised cost and FVOCI, trade receivables, contract assets recognised and measured under IFRS 15

and loan commitments and some financial guarantee contracts (for the issuer) that are not measured at FVTPL. Recognition

of credit losses is no longer dependent on the LLP first identifying a credit loss event. Instead, the LLP considers a broader

range of information when assessing credit risk and measuring expected credit losses, including past events, current

conditions, and reasonable and supportable forecasts that affect the expected collectability of the future cash flows of the

instrument.

In applying this forward-looking approach, a distinction is made between: Stage 1 - financial instruments that have not

deteriorated significantly in credit quality since initial recognition or that have low credit risk; Stage 2 - financial instruments

that have deteriorated significantly in credit quality since initial recognition and whose credit risk is not low; and Stage 3 -

financial assets that have objective evidence of impairment at the reporting date. Twelve-month expected credit losses are

recognised for the first category while lifetime expected credit losses are recognised for the second category.

Measurement of the expected credit losses is determined by a probability-weighted estimate of credit losses over the

expected life of the financial instrument.

(a) Trade and other receivables - trade receivables are initially recognised and carried at the lower of their original invoiced

value and recoverable amount. Balances are written off when the probability of recovery is remote. The LLP makes use of a

simplified approach in accounting for trade and other receivables and records the loss allowance as lifetime expected credit

losses. These are the expected shortfalls in contractual cash flows, considering the potential for default at any point during

the life of the financial instrument. The LLP uses historical experience, external indicators and forward-looking information

to calculate the expected credit losses. The LLP assesses impairment of trade receivables on a collective basis. Where they

possess shared credit risk characteristics, they have been grouped based on industry sector global default rates.

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Amey Public Services LLP

Notes to the Financial StatementsAnnual Report and Financial Statements 2025

2. Accounting Policies (continued)

Financial instruments (continued)

(b) Intercompany loans receivable - intercompany advances to other Group companies are all held to maturity, neither party

has an option to call or prepay the loan before the contracted maturity date. Such assets are held under a business model

to hold and collect contractual cash flows and therefore meet the ‘solely payments of principal and interest’ test. No

embedded derivatives are currently recognised in these advances, and the amortised cost classification is not impacted. All

intercompany advances are assessed for impairment under the ECL model using the general approach.

Classification and measurement of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements

entered. An equity instrument is any contract that provides a residual interest in the assets of a business after deducting all

other liabilities.

The LLP's financial liabilities include borrowings, trade and other payables and derivative financial instruments.

(a) Borrowings - borrowings are recognised initially at fair value, net of transaction costs incurred. Borrowings are

subsequently stated at amortised cost unless they form part of a fair value hedge relationship. Any difference between the

amount initially recognised (net of transaction costs) and the redemption value is recognised in the income statement over

the period of the borrowings using the EIR method. Borrowings being novated or cancelled and re-issued, with a substantial

modification of the terms, are accounted for as an extinguishment of the original financial liability and the recognition of a

new financial liability, with any resulting gain or loss recognised in the income statement.

(b) Trade and other payables - trade and other payables are non-interest bearing and are stated at their fair value and

subsequently measured at amortised cost using the EIR method.

Trade and other receivables

Trade and other receivables are amounts due from fellow group undertakings and amounts recoverable on contracts.

Amounts recoverable on contracts represent the excess of work done including attributable profit over cumulative

payments on account received. Payments on account in excess of work done are included within creditors.

They are initially recognized at fair value and subsequently measured at amortized cost, less provision for impairment. They

are classed as non-current assets if collection is expected after more than twelve months.

Cash at bank and in hand

Cash at bank and in hand includes cash and deposits with banks. Bank overdrafts are shown within borrowings in current

liabilities.

Creditors

Obligations to pay for goods and services are recognised initially at fair value and subsequently measured at amortised

cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is

probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of

the obligation. Provisions are measured at the Directors’ best estimate of the expenditure required to settle the obligation at

the reporting date and are discounted to present value where the effect is material.

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Amey Public Services LLP

Notes to the Financial StatementsAnnual Report and Financial Statements 2025

3. Critical accounting estimates and judgements

Accounting estimates

In the financial statements for 2025, estimates have been made to measure certain assets, liabilities, income, expenses and

obligations reported herein. These estimates relate to the following:

(i) Estimates taken into consideration for the purpose of recognising revenue from contracts with customers including most

notably those associated with:

• determining whether enforceable rights exist, in order to recognise revenue;

• determining whether a contract modification has been approved;

• establishing whether the conditions for recognising revenue for variable consideration are met;

• recognising revenue in relation to a claim or a dispute;

• establishing whether the contract includes one or several performance obligations, and determining the price allocable to

each of them;

• defining for each performance obligation the applicable method for recognising revenue over time, taking into account

that, based on the accounting policy established by the LLP, the preferred method is the ‘survey of performance

completed to date’ output method (units of production or based on time elapsed), and the ‘stage of completion measured

in terms of costs incurred’ input model is applied in those cases in which the services provided are not routine and

recurring services, and in which the unit price of the units of work to be performed cannot be determined;

• in the case of contracts recognised using the survey of performance completed to date method, measuring the units

completed and the price that can be allocated thereto;

• in the case of contracts recognised using the ‘percentage of completion method’ input method, defining the costs

incurred relative to total contract costs, and the expected profit margin for the contract;

• determining whether to capitalise bidding costs and mobilisation costs;

• making estimates relating to the calculation of the provision for expected losses and deferred expenses including the

level of discount rate to be applied when calculating the provision; and

• the aim of the criterion described above is to provide the most faithful depiction of the transfer of performance

obligations.

(ii) The assessment of possible legal contingencies

(iii) The assessment of possible impairment losses on certain assets

Although these estimates were made on the basis of the best information available at 31 December 2025 on the events

analysed, events that take place in the future might make it necessary to change these estimates. Changes in accounting

estimates would be applied prospectively in accordance with the requirements of IAS 8 (Accounting Policies, Changes in

Accounting Estimates and Errors).

The key accounting estimates and judgements are further considered below:

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified during the preparation of these financial statements.

Key judgements

No key judgements have been identified during the preparation of these financial statements.

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Amey Public Services LLP

Notes to the Financial StatementsAnnual Report and Financial Statements 2025

4. Revenue

Revenue and the profit for the financial year before members’ remuneration and loss share are attributable to the principal

activity of highways management. All revenue arises solely within the UK and relates to discontinued operations.

5. Operating profit

The operating profit before taxation is stated after charging:


		2025	2024
	Note	£'000	£'000
Income deferred during the year		—	432
Depreciation - leased/right of use assets		—	83
Short term and low value lease rentals:
Land and buildings		—	85
Plant and machinery		85	3,185
IT licences and rentals		5	44
Cost of inventory recognised as an expense		425	3,439
Increase in other provision		—	350

The auditor's remuneration is borne by Amey Group Services Limited, a fellow subsidiary undertaking of the LLP, and is not

recharged. The allocation to the LLP of the auditor’s fees, which are attributable solely to the audit of these financial

statements, is £13,000 (2024 - £27,000).

Short term and low value lease rental charges include recharge of costs incurred by fellow group undertakings on behalf of

the LLP.

The average number of Members during the period was two (2024 – two) and the average number of Management

Committee members was three (2024 – four). The profit share of the highest paid Member was nil (2024 – £963,000).

6. Finance expense


		2025	2024
	Note	£'000	£'000
Other interest payable		—	6
Lease interest		—	2
		—	8

7. Employee costs (including Committee Members)

The LLP had no direct employees in either 2025 or 2024. The costs of employees of Amey Services Limited are recharged

to this LLP in direct support of its trade.

No Committee Members were remunerated through the LLP in 2025 or 2024.

The remuneration of the Committee Members, whose services are of a non-executive nature, are paid by fellow group

undertakings. Their remuneration is deemed to be wholly attributable to their services to the Group as a whole.

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Amey Public Services LLP

Notes to the Financial StatementsAnnual Report and Financial Statements 2025

8. Trade and other receivables


	2025	2024
	£'000	£'000
Amount falling due within one year:
Amounts owed by group undertakings	4	—
Amounts recoverable on contracts	—	57
Other taxes and social security	1	—
Other debtors	275	1,268
Prepayments and accrued income	—	176
	280	1,501

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Amey Public Services LLP

Notes to the Financial StatementsAnnual Report and Financial Statements 2025

9. Creditors


	2025	2024
	£'000	£'000
Creditors: amounts falling due within one year
Trade creditors	20	33
Amounts owed to other fellow subsidiaries/group undertakings of the Amey UK Limited group	4,524	5,722
Amounts owed to parent undertaking of the Company	10	2
Social security and other taxes	—	(1)
Accruals	189	—
Deferred income	—	432
	4,743	6,188

10. Provision for liabilities


	2025	2024
	£'000	£'000
Other Provision	350	350
	350	350


	Other provision	Total
	£'000	£'000
At 1 January 2025	350	350
At 31 December 2025	350	350

The provision relates to dilapidation costs and is expected to be utilised during 2026.

11. Loans and other debts due to Members within one year


	2025	2024
	£'000	£'000
Members' capital classified as a liability
- Members' current financial statements classified within liabilities	(4,765)	(4,765)
Total loans and other debts due to Members within one year	(4,765)	(4,765)

Amounts due to fellow group undertakings are payable on demand and do not bear interest. There is no difference between

the book value and the fair value of amounts owed to group undertakings.

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Amey Public Services LLP

Notes to the Financial StatementsAnnual Report and Financial Statements 2025

12. Members’ other interests


	Members’ capital contributions	Total Members’ other interests
	£'000	£'000
Members’ capital contributions and losses classified as equity at 31 December 2025 and 31 December 2024	1	1
	1	1

13. Net cash flow from operating activities


	2025	2024
	£'000	£'000
Operating profit for the financial year	—	1,445
Depreciation charge for the year	—	83
Decrease in inventories	—	838
Decrease in debtors	1,221	1,267
(Decrease)/increase in creditors	(1,445)	2,750
Net cash flow (used in)/generated from operating activities	(224)	6,383

14. Reconciliation of net cash flow to movement in net cash


	2025	2024
	£'000	£'000
Decrease in cash for the year	(224)	(29)
Movement in net cash	(224)	(29)
Net cash at 31 December 2024	273	273
Net cash at 31 December 2025	49	—

15. Analysis of decrease in cash at bank during the year


	2024	Net cash flow 2024	2025
	£'000	£'000	£'000
Cash at bank and in hand	273	(224)	49
	273	(224)	49

16. Contingent liabilities

Losses, for which no provision has been made in these financial statements, which might arise from litigation in the normal

course of business are not expected to be material in the context of these financial statements.

There were no other contingent liabilities at 31 December 2025 or at 31 December 2024.

17. Financial and capital commitments

The Company had no capital commitments at 31 December 2025 or at 31 December 2024.

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Amey Public Services LLP

Notes to the Financial StatementsAnnual Report and Financial Statements 2025

18. Related party transactions

The related parties are North Lanarkshire Council (‘NLC’), which is the LLP’s main customer and also holds one-third share

in the LLP, and the Amey UK Limited group of companies (‘Amey Group’), which is the LLP’s main partner and supplier and

holds a two-thirds share in the LLP through a subsidiary undertaking.


	NLC	Amey Group	NLC	Amey Group
	2025	2025	2024	2024
	£'000	£'000	£'000	£'000
Income statement
Revenue with related parties	—	—	16,419	1,182
Purchased from related parties	—	—	343	7,235
Balance sheet
Trade and other receivables	—	—	48	—
Creditors	—	—	432	54

The balances and transactions for 2025 are nil since the contract ceased delivering for the only client in October 2024. Until

2024, for NLC, the purchases relate to property rents, rates and insurance. For Amey Group, the purchases relate to staff

costs of £nil (2024 – £6,704,000) and other operating costs of £nil (2024 – £531,000).

19. Controlling parties

The immediate parent undertaking is Amey LG Limited.

The ultimate parent undertaking, the ultimate controlling party and the largest group to consolidate these financial

statements is Project Ardent Bidco Limited.

The LLP is a limited liability partnership in which the partners, Amey LG Limited and North Lanarkshire Council hold 67% and

33% respectively.

The parent of the smallest group in which these financial statements are consolidated is Amey UK Limited, incorporated in

England and Wales.

Copies of the Project Ardent Bidco Limited or Amey UK Limited consolidated financial statements can be obtained from the

registered office as follows:

The Company Secretary

Chancery Exchange

10 Furnival Street

London EC4A 1AB

United Kingdom


Company Information	1
Strategic Report	2
Report of the Members	3 to 4
Members’ Responsibilities Statement	5
Independent Auditor's report	6 to 8
Statement of Comprehensive Income	9
Balance Sheet	10
Statement of Changes in Members' Interests	11
Cash Flow Statement	12
Notes to the Financial Statements	13 to 24


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