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2 Summary of material accounting policies
Basis of preparation
The\u2002Group\u2002consolidated\u2002financial\u2002statements\u2002have\u2002been\u2002prepared\u2002and\u2002approved\u2002by\u2002the\u2002directors\u2002in\u2002accordance\u2002with\u2002UK-adopted\u2002
international\u2002accounting\u2002standards\u2002and\u2002with\u2002the\u2002requirements\u2002of\u2002the\u2002Companies\u2002Act\u20022006\u2002as\u2002applicable\u2002to\u2002companies\u2002reporting\u2002under\u2002
those\u2002standards.\u2002The\u2002Company\u2002financial\u2002statements\u2002have\u2002been\u2002prepared\u2002and\u2002approved\u2002by\u2002the\u2002directors\u2002in\u2002accordance\u2002with\u2002Financial\u2002
Reporting\u2002Standard\u2002101,\u2002\u2018Reduced\u2002disclosure\u2002framework\u2019\u2002(FRS\u2002101)\u2002and\u2002with\u2002the\u2002requirements\u2002of\u2002the\u2002Companies\u2002Act\u20022006.\u2002On\u2002publishing\u2002
the\u2002Parent\u2002Company\u2002financial\u2002statements\u2002here\u2002together\u2002with\u2002the\u2002Group\u2002financial\u2002statements,\u2002the\u2002Company\u2002is\u2002taking\u2002advantage\u2002of\u2002the\u2002
exemption\u2002in\u2002Section\u2002408\u2002of\u2002the\u2002Companies\u2002Act\u20022006\u2002not\u2002to\u2002present\u2002its\u2002individual\u2002income\u2002statement\u2002and\u2002related\u2002notes\u2002that\u2002form\u2002a\u2002part\u2002
of\u2002these\u2002approved\u2002financial\u2002statements.
These\u2002financial\u2002statements\u2002are\u2002presented\u2002in\u2002pounds\u2002sterling,\u2002rounded\u2002to\u2002the\u2002nearest\u2002hundred\u2002thousand.\u2002The\u2002financial\u2002statements\u2002
are\u2002prepared\u2002on\u2002the\u2002historical\u2002cost\u2002basis,\u2002except\u2002that\u2002pension\u2002plan\u2002assets\u2002are\u2002measured\u2002at\u2002their\u2002fair\u2002value.\u2002In\u2002preparing\u2002the\u2002financial\u2002
statements\u2002of\u2002the\u2002Group,\u2002an\u2002assessment\u2002of\u2002the\u2002impact\u2002of\u2002climate\u2002change\u2002was\u2002performed\u2002with\u2002reference\u2002to\u2002the\u2002disclosures\u2002made\u2002in\u2002
the\u2002Strategic\u2002Report.\u2002There\u2002has\u2002been\u2002no\u2002material\u2002impact\u2002on\u2002the\u2002financial\u2002statements\u2002in\u2002the\u2002current\u2002year\u2002from\u2002the\u2002Group\u2019s\u2002assessment\u2002
of\u2002the\u2002impact\u2002of\u2002climate\u2002change,\u2002including\u2002estimates\u2002and\u2002judgements\u2002made,\u2002specifically\u2002in\u2002relation\u2002to\u2002long-term\u2002contract\u2002accounting.\u2002
Related\u2002risks\u2002and\u2002opportunities\u2002have\u2002been\u2002factored\u2002into\u2002future\u2002cash\u2002flow\u2002forecasts\u2002to\u2002the\u2002best\u2002of\u2002management\u2019s\u2002ability.
The\u2002preparation\u2002of\u2002the\u2002Group\u2002and\u2002Company\u2002financial\u2002statements\u2002requires\u2002management\u2002to\u2002make\u2002judgements,\u2002estimates\u2002and\u2002assumptions\u2002
that\u2002affect\u2002the\u2002application\u2002of\u2002policies\u2002and\u2002reported\u2002amounts\u2002of\u2002assets\u2002and\u2002liabilities,\u2002income\u2002and\u2002expenses.\u2002The\u2002estimates\u2002and\u2002associated\u2002
assumptions\u2002are\u2002based\u2002on\u2002historical\u2002experience\u2002and\u2002various\u2002other\u2002factors\u2002that\u2002are\u2002believed\u2002to\u2002be\u2002reasonable\u2002under\u2002the\u2002circumstances.\u2002
These\u2002form\u2002the\u2002basis\u2002of\u2002making\u2002the\u2002judgements\u2002about\u2002carrying\u2002values\u2002of\u2002assets\u2002and\u2002liabilities\u2002that\u2002are\u2002not\u2002readily\u2002apparent\u2002from\u2002other\u2002
sources.\u2002Actual\u2002results\u2002may\u2002differ\u2002from\u2002these\u2002estimates.\u2002Judgements\u2002made\u2002by\u2002management\u2002that\u2002have\u2002a\u2002significant\u2002effect\u2002on\u2002the\u2002financial\u2002
statements\u2002and\u2002estimates\u2002with\u2002a\u2002significant\u2002risk\u2002of\u2002material\u2002adjustment\u2002in\u2002the\u2002following\u2002financial\u2002years\u2002are\u2002discussed\u2002later\u2002in\u2002this\u2002note.
The\u2002following\u2002exemptions\u2002have\u2002been\u2002applied\u2002in\u2002the\u2002preparation\u2002of\u2002the\u2002Company\u2002financial\u2002statements,\u2002in\u2002accordance\u2002with\u2002FRS\u2002101:
\u2022 IFRS\u20027,\u2002\u2018Financial\u2002instruments:\u2002Disclosures\u2019.
\u2022 Paragraphs\u200291\u2002to\u200299\u2002of\u2002IFRS\u200213,\u2002\u2018Fair\u2002value\u2002measurement\u2019\u2002(disclosure\u2002of\u2002valuation\u2002techniques\u2002and\u2002inputs\u2002used\u2002for\u2002fair\u2002value\u2002
measurement\u2002of\u2002assets\u2002and\u2002liabilities).
\u2022 The\u2002following\u2002paragraphs\u2002of\u2002IAS\u20021,\u2002\u2018Presentation\u2002of\u2002financial\u2002statements\u2019:
\u2013 10(d)\u2002(statement\u2002of\u2002cash\u2002flows);
\u2013 16\u2002(statement\u2002of\u2002compliance\u2002with\u2002all\u2002IFRS);
\u2013 38A\u2002(requirement\u2002for\u2002minimum\u2002of\u2002two\u2002primary\u2002statements,\u2002including\u2002cash\u2002flow\u2002statements);
\u2013 38B-D\u2002(additional\u2002comparative\u2002information);
\u2013 111\u2002(statement\u2002of\u2002cash\u2002flows\u2002information);\u2002and
\u2013 134-136\u2002(capital\u2002management\u2002disclosures).
\u2022 IAS\u20027,\u2002\u2018Statement\u2002of\u2002cash\u2002flows\u2019.
\u2022 Paragraph\u200217\u2002of\u2002IAS\u200224,\u2002\u2018Related\u2002party\u2002disclosures\u2019\u2002(key\u2002management\u2002compensation).
\u2022 The\u2002requirements\u2002in\u2002IAS\u200224,\u2002\u2018Related\u2002party\u2002disclosures\u2019,\u2002to\u2002disclose\u2002related\u2002party\u2002transactions\u2002entered\u2002into\u2002between\u2002two\u2002or\u2002more\u2002
members\u2002of\u2002a\u2002group.
Going concern
The\u2002Group\u2019s\u2002business\u2002activities\u2002and\u2002the\u2002factors\u2002likely\u2002to\u2002affect\u2002its\u2002future\u2002development,\u2002performance\u2002and\u2002position\u2002are\u2002set\u2002out\u2002in\u2002the\u2002
Strategic\u2002Report.\u2002The\u2002financial\u2002position\u2002of\u2002the\u2002Group,\u2002its\u2002cash\u2002flows,\u2002liquidity\u2002position,\u2002borrowing\u2002and\u2002bonding\u2002facilities,\u2002use\u2002of\u2002financial\u2002
instruments,\u2002exposure\u2002to\u2002credit\u2002risk\u2002and\u2002its\u2002objectives,\u2002policies\u2002and\u2002processes\u2002for\u2002managing\u2002its\u2002capital\u2002and\u2002financial\u2002risk\u2002are\u2002described\u2002
in\u2002the\u2002Chief\u2002Financial\u2002Officer\u2019s\u2002review\u2002and\u2002in\u2002note\u200218.
The\u2002Group\u2019s\u2002principal\u2002business\u2002activity\u2002involves\u2002work\u2002on\u2002the\u2002UK\u2019s\u2002infrastructure,\u2002mostly\u2002delivering\u2002long-term\u2002contracts\u2002with\u2002a\u2002number\u2002
of\u2002customers.\u2002To\u2002meet\u2002its\u2002day-to-day\u2002working\u2002capital\u2002requirements,\u2002it\u2002uses\u2002cash\u2002balances\u2002provided\u2002from\u2002shareholders\u2019\u2002capital\u2002and\u2002
retained\u2002earnings\u2002and\u2002its\u2002borrowing\u2002facilities.\u2002The\u2002Group\u2019s\u2002bank\u2002and\u2002bonding\u2002facilities,\u2002which\u2002expire\u2002in\u2002September\u20022026,\u2002comprise\u2002an\u2002
\u00a385m\u2002sustainability-linked\u2002revolving\u2002credit\u2002facility\u2002(RCF)\u2002and\u2002surety\u2002and\u2002bank\u2002bonding\u2002facilities\u2002totalling\u2002\u00a3270m.\u2002The\u2002RCF\u2002facility\u2002is\u2002
currently\u2002undrawn.
These\u2002facilities\u2002have\u2002a\u2002leverage\u2002covenant\u2002of\u2002net\u2002debt/adjusted\u2002EBITDA\u2002\u22641.5\u2002times,\u2002an\u2002interest\u2002covenant\u2002of\u2002adjusted\u2002EBITA/net\u2002interest\u2002
payable\u2002of\u2002\u22654.0\u2002times\u2002and\u2002a\u2002liquidity\u2002covenant\u2002whereby\u2002the\u2002aggregate\u2002of,\u2002without\u2002double\u2002counting,\u2002any\u2002cash\u2002and\u2002cash\u2002equivalent\u2002
investments\u2002and\u2002the\u2002available\u2002commitment\u2002under\u2002the\u2002facility\u2002does\u2002not\u2002fall\u2002below\u2002\u00a350m.\u2002These\u2002financial\u2002covenants\u2002are\u2002tested\u2002quarterly.\u2002As\u2002
at\u200231\u2002December\u20022024,\u2002the\u2002Group\u2002had\u2002a\u2002leverage\u2002covenant\u2002ratio\u2002of\u2002below\u2002zero\u2002(the\u2002Group\u2002had\u2002no\u2002net\u2002debt)\u2002and\u2002an\u2002interest\u2002covenant\u2002ratio\u2002
of\u200211.1\u2002times.\u2002As\u2002part\u2002of\u2002its\u2002contracting\u2002operations,\u2002the\u2002Group\u2002may\u2002be\u2002required\u2002to\u2002provide\u2002performance\u2002and\u2002other\u2002bonds.\u2002It\u2002satisfies\u2002these\u2002
requirements\u2002by\u2002utilising\u2002its\u2002\u00a320m\u2002bank\u2002bonding\u2002and\u2002\u00a3250m\u2002surety\u2002company\u2002bonding\u2002facilities.
In\u2002determining\u2002the\u2002appropriate\u2002basis\u2002of\u2002preparation\u2002of\u2002the\u2002financial\u2002statements\u2002for\u2002the\u2002year\u2002ended\u200231\u2002December\u20022024,\u2002the\u2002directors\u2002are\u2002
required\u2002to\u2002consider\u2002whether\u2002the\u2002Group\u2002and\u2002the\u2002Company\u2002can\u2002continue\u2002in\u2002operational\u2002existence\u2002for\u2002the\u2002foreseeable\u2002future,\u2002being\u2002a\u2002
period\u2002of\u2002at\u2002least\u2002twelve\u2002months\u2002from\u2002the\u2002date\u2002of\u2002approval\u2002of\u2002the\u2002financial\u2002statements.
In\u2002assessing\u2002the\u2002going\u2002concern\u2002assumption,\u2002the\u2002Board\u2002reviewed\u2002the\u2002Group\u2019s\u2002base\u2002case\u2002plans\u2002for\u2002the\u200215\u2002month\u2002period\u2002to\u200230\u2002June\u20022026,\u2002
being\u2002a\u2002period\u2002of\u2002more\u2002than\u200212\u2002months\u2002from\u2002the\u2002date\u2002of\u2002approval\u2002of\u2002these\u2002financial\u2002statements.\u2002The\u2002directors\u2002have\u2002assumed\u2002that\u2002the\u2002
current\u2002RCF\u2002remains\u2002in\u2002place\u2002with\u2002the\u2002same\u2002covenant\u2002requirements\u2002through\u2002to\u2002its\u2002current\u2002expiry\u2002date,\u2002which\u2002is\u2002beyond\u2002the\u2002end\u2002of\u2002the\u2002
period\u2002reviewed\u2002for\u2002Going\u2002Concern\u2002purposes.\u2002The\u2002base\u2002case\u2002assumes\u2002delivery\u2002of\u2002the\u2002Board\u2002approved\u2002strategic\u2002and\u2002financial\u2002plans.\u2002
As\u2002part\u2002of\u2002the\u2002assessment,\u2002the\u2002Board\u2002also\u2002identified\u2002severe\u2002but\u2002plausible\u2002downsides\u2002affecting\u2002future\u2002profitability,\u2002working\u2002capital\u2002
requirements\u2002and\u2002cash\u2002flow.\u2002The\u2002severe\u2002but\u2002plausible\u2002downsides\u2002include\u2002applying\u2002the\u2002aggregated\u2002impact\u2002of\u2002lower\u2002revenue,\u2002lower\u2002
margins,\u2002higher\u2002working\u2002capital\u2002requirements\u2002and\u2002adverse\u2002contract\u2002settlements.
Both\u2002the\u2002base\u2002case\u2002and\u2002severe\u2002but\u2002plausible\u2002forecasts\u2002show\u2002significant\u2002headroom\u2002and\u2002indicate\u2002that\u2002the\u2002Group\u2002and\u2002the\u2002Company\u2002
will\u2002be\u2002able\u2002to\u2002operate\u2002within\u2002available\u2002banking\u2002facilities\u2002and\u2002covenants\u2002throughout\u2002this\u2002period.
Having\u2002undertaken\u2002a\u2002rigorous\u2002assessment\u2002of\u2002the\u2002financial\u2002forecasts,\u2002including\u2002its\u2002liquidity\u2002and\u2002compliance\u2002with\u2002covenants,\u2002the\u2002Board\u2002
considers\u2002that\u2002the\u2002Group\u2002and\u2002the\u2002Company\u2002have\u2002adequate\u2002resources\u2002to\u2002remain\u2002in\u2002operation\u2002for\u2002the\u2002foreseeable\u2002future\u2002and,\u2002therefore,\u2002
the\u2002directors\u2002have\u2002adopted\u2002the\u2002going\u2002concern\u2002basis\u2002in\u2002the\u2002preparation\u2002of\u2002the\u2002financial\u2002statements.
New and amended standards adopted by the Group
The\u2002accounting\u2002policies\u2002set\u2002out\u2002in\u2002this\u2002note\u2002have\u2002been\u2002applied\u2002consistently\u2002by\u2002the\u2002Group\u2002and\u2002the\u2002Company\u2002to\u2002each\u2002period\u2002presented\u2002
in\u2002these\u2002financial\u2002statements,\u2002except\u2002for\u2002the\u2002adoption\u2002of\u2002the\u2002new\u2002accounting\u2002standards\u2002noted\u2002below.
The\u2002Group\u2002has\u2002applied\u2002the\u2002following\u2002standards\u2002and\u2002amendments\u2002for\u2002the\u2002first\u2002time\u2002for\u2002its\u2002annual\u2002reporting\u2002period\u2002commencing\u2002
1\u2002January\u20022024:
\u2022 Classification\u2002of\u2002Liabilities\u2002as\u2002Current\u2002or\u2002Non-current\u2002and\u2002Non-current\u2002liabilities\u2002with\u2002covenants\u2002\u2013\u2002Amendments\u2002to\u2002IAS\u20021;\u2002
\u2022 Lease\u2002liability\u2002in\u2002a\u2002Sale\u2002and\u2002Leaseback\u2002\u2013\u2002Amendments\u2002to\u2002IFRS\u200216;\u2002and\u2002
\u2022 Supplier\u2002Finance\u2002Arrangements\u2002\u2013\u2002Amendments\u2002to\u2002IAS\u20027\u2002and\u2002IFRS\u20027.\u2002
The\u2002amendments\u2002listed\u2002above\u2002did\u2002not\u2002have\u2002any\u2002impact\u2002on\u2002the\u2002amounts\u2002recognised\u2002in\u2002prior\u2002periods\u2002and\u2002are\u2002not\u2002expected\u2002to\u2002materially\u2002
affect\u2002the\u2002current\u2002or\u2002future\u2002periods.
Certain\u2002new\u2002accounting\u2002standards,\u2002amendments\u2002to\u2002accounting\u2002standards\u2002and\u2002interpretations\u2002have\u2002been\u2002published\u2002that\u2002are\u2002not\u2002
mandatory\u2002for\u200231\u2002December\u20022024\u2002reporting\u2002periods\u2002and\u2002have\u2002not\u2002been\u2002early\u2002adopted\u2002by\u2002the\u2002Group.\u2002These\u2002standards,\u2002amendments\u2002or\u2002
interpretations\u2002are\u2002not\u2002expected\u2002to\u2002have\u2002a\u2002material\u2002impact\u2002on\u2002the\u2002entity\u2002in\u2002the\u2002current\u2002or\u2002future\u2002reporting\u2002periods\u2002or\u2002on\u2002foreseeable\u2002
future\u2002transactions.
Basis of consolidation
(a)\u2002\u2002 \u2002The\u2002Group\u2019s\u2002financial\u2002statements\u2002include\u2002the\u2002financial\u2002statements\u2002of\u2002the\u2002Company\u2002and\u2002its\u2002subsidiaries.\u2002Subsidiaries\u2002are\u2002entities\u2002
controlled\u2002by\u2002the\u2002Group\u2002and\u2002control\u2002exists\u2002when\u2002the\u2002Group\u2002is\u2002exposed\u2002to,\u2002or\u2002has\u2002the\u2002rights\u2002to,\u2002variable\u2002returns\u2002from\u2002its\u2002involvement\u2002
with\u2002the\u2002entity\u2002and\u2002has\u2002the\u2002ability\u2002to\u2002affect\u2002those\u2002returns\u2002through\u2002its\u2002power\u2002over\u2002the\u2002entity.\u2002The\u2002financial\u2002statements\u2002of\u2002subsidiaries\u2002
are\u2002included\u2002in\u2002the\u2002consolidated\u2002financial\u2002statements\u2002from\u2002the\u2002date\u2002that\u2002control\u2002starts\u2002until\u2002the\u2002date\u2002that\u2002control\u2002ceases.
(b)\u2002 \u2002Associates\u2002are\u2002operations\u2002over\u2002which\u2002power\u2002exists\u2002to\u2002exercise\u2002significant\u2002influence\u2002but\u2002not\u2002control,\u2002generally\u2002accompanied\u2002by\u2002
a\u2002share\u2002of\u2002between\u200220%\u2002and\u200250%\u2002of\u2002the\u2002voting\u2002rights.\u2002Associates\u2002are\u2002accounted\u2002for\u2002using\u2002the\u2002equity\u2002method.
(c)\u2002 \u2002Joint\u2002ventures\u2002are\u2002those\u2002joint\u2002arrangements\u2002where\u2002control\u2002of\u2002a\u2002legal\u2002entity\u2002is\u2002shared\u2002with\u2002another\u2002entity,\u2002and\u2002where\u2002the\u2002Group\u2002has\u2002
rights\u2002to\u2002the\u2002net\u2002assets\u2002of\u2002the\u2002arrangement.\u2002Joint\u2002ventures\u2002are\u2002accounted\u2002for\u2002using\u2002the\u2002equity\u2002method\u2002from\u2002the\u2002date\u2002that\u2002the\u2002joint\u2002
venture\u2002starts\u2002until\u2002the\u2002date\u2002that\u2002joint\u2002control\u2002of\u2002the\u2002entity\u2002ceases.
(d)\u2002 \u2002The\u2002presentation\u2002of\u2002investments\u2002in\u2002associates\u2002and\u2002joint\u2002ventures\u2002in\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002restricts\u2002the\u2002minimum\u2002carrying\u2002
value\u2002to\u2002\u00a3nil.\u2002Where\u2002the\u2002cost\u2002of\u2002investment\u2002would\u2002be\u2002negative,\u2002due\u2002to\u2002losses\u2002incurred,\u2002then\u2002an\u2002amount\u2002up\u2002to\u2002the\u2002value\u2002of\u2002the\u2002negative\u2002
position\u2002is\u2002applied\u2002to\u2002any\u2002outstanding\u2002loan\u2002balance\u2002with\u2002the\u2002investment\u2002or,\u2002where\u2002future\u2002funding\u2002commitments\u2002exist,\u2002a\u2002provision\u2002is\u2002
made\u2002up\u2002to\u2002the\u2002value\u2002of\u2002the\u2002commitment.
(e)\u2002 \u2002Joint\u2002operations\u2002are\u2002those\u2002joint\u2002arrangements\u2002over\u2002which\u2002joint\u2002control\u2002exists,\u2002established\u2002by\u2002contractual\u2002agreement,\u2002which\u2002are\u2002not\u2002
legal\u2002entities\u2002and\u2002where\u2002the\u2002parties\u2002have\u2002rights\u2002to\u2002the\u2002assets\u2002and\u2002obligations\u2002for\u2002the\u2002liabilities\u2002relating\u2002to\u2002the\u2002arrangement.\u2002Where\u2002
a\u2002joint\u2002operation\u2002exists,\u2002the\u2002Group\u2002entity\u2002involved\u2002records\u2002the\u2002assets\u2002it\u2002controls,\u2002the\u2002liabilities\u2002and\u2002expenses\u2002it\u2002incurs\u2002and\u2002its\u2002share\u2002
of\u2002income.\u2002Such\u2002joint\u2002operations\u2002are\u2002reported\u2002in\u2002the\u2002consolidated\u2002financial\u2002statements\u2002on\u2002the\u2002same\u2002basis.\u2002Transactions\u2002between\u2002
Group\u2002companies\u2002and\u2002joint\u2002operations\u2002eliminate\u2002on\u2002consolidation.
(f)\u2002 \u2002Intra-Group\u2002balances\u2002and\u2002transactions\u2002together\u2002with\u2002any\u2002unrealised\u2002gains\u2002arising\u2002from\u2002intra-Group\u2002transactions\u2002are\u2002eliminated\u2002in\u2002
preparing\u2002the\u2002consolidated\u2002financial\u2002statements.\u2002Unrealised\u2002gains\u2002arising\u2002from\u2002transactions\u2002with\u2002associates,\u2002joint\u2002ventures\u2002and\u2002joint\u2002
operations\u2002are\u2002eliminated\u2002to\u2002the\u2002extent\u2002of\u2002the\u2002interest\u2002in\u2002the\u2002entity\u2002or\u2002operation.\u2002Unrealised\u2002losses\u2002are\u2002eliminated\u2002in\u2002the\u2002same\u2002way\u2002
as\u2002unrealised\u2002gains,\u2002but\u2002only\u2002to\u2002the\u2002extent\u2002that\u2002there\u2002is\u2002no\u2002evidence\u2002of\u2002impairment.
Currency translation
Transactions\u2002in\u2002foreign\u2002currencies\u2002are\u2002translated\u2002at\u2002the\u2002exchange\u2002rate\u2002ruling\u2002at\u2002the\u2002date\u2002of\u2002the\u2002transaction.\u2002Monetary\u2002assets\u2002and\u2002liabilities\u2002
denominated\u2002in\u2002foreign\u2002currencies\u2002are\u2002translated\u2002to\u2002pounds\u2002sterling\u2002at\u2002the\u2002exchange\u2002rate\u2002ruling\u2002at\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002
date.\u2002Foreign\u2002exchange\u2002differences\u2002arising\u2002on\u2002translation\u2002are\u2002recognised\u2002in\u2002the\u2002income\u2002statement.
The\u2002assets\u2002and\u2002liabilities\u2002of\u2002the\u2002residual\u2002foreign\u2002entities\u2002are\u2002translated\u2002to\u2002pounds\u2002sterling\u2002at\u2002exchange\u2002rates\u2002ruling\u2002at\u2002the\u2002statement\u2002of\u2002
financial\u2002position\u2002date.\u2002Income\u2002and\u2002expenses\u2002of\u2002foreign\u2002entities\u2002are\u2002translated\u2002to\u2002pounds\u2002sterling\u2002at\u2002rates\u2002approximating\u2002to\u2002the\u2002exchange\u2002
rates\u2002ruling\u2002at\u2002the\u2002dates\u2002of\u2002these\u2002transactions.
Exchange\u2002differences\u2002arising\u2002from\u2002the\u2002translation\u2002of\u2002the\u2002net\u2002investment\u2002in\u2002the\u2002remaining\u2002foreign\u2002entities\u2002are\u2002recognised\u2002directly\u2002in\u2002
equity.\u2002Those\u2002exchange\u2002differences\u2002that\u2002have\u2002arisen\u2002since\u20021\u2002January\u20022004,\u2002the\u2002date\u2002of\u2002transition\u2002to\u2002IFRS,\u2002are\u2002presented\u2002as\u2002a\u2002separate\u2002
component\u2002of\u2002equity.\u2002Cumulative\u2002exchange\u2002differences\u2002are\u2002released\u2002into\u2002the\u2002income\u2002statement\u2002upon\u2002disposal.\u2002Translation\u2002differences\u2002
that\u2002arose\u2002before\u2002the\u2002date\u2002of\u2002transition\u2002to\u2002IFRS\u2002in\u2002respect\u2002of\u2002all\u2002foreign\u2002operations\u2002are\u2002not\u2002presented\u2002as\u2002a\u2002separate\u2002component.
Revenue from contracts with customers
The\u2002principal\u2002source\u2002of\u2002revenue\u2002relates\u2002to\u2002developing\u2002and\u2002improving\u2002the\u2002UK\u2019s\u2002infrastructure\u2002across\u2002the\u2002transportation,\u2002water,\u2002energy\u2002and\u2002
defence\u2002sectors.\u2002The\u2002Group\u2002recognises\u2002revenue\u2002when\u2002control\u2002over\u2002the\u2002service\u2002or\u2002product\u2002is\u2002transferred\u2002to\u2002the\u2002customer\u2002and\u2002revenue\u2002is\u2002
measured\u2002at\u2002the\u2002fair\u2002value\u2002of\u2002the\u2002consideration\u2002received\u2002or\u2002receivable,\u2002net\u2002of\u2002value\u2002added\u2002tax.\u2002
Long-term\u2002contracts\u2002are\u2002structured\u2002under\u2002either\u2002a\u2002cost\u2002reimbursement,\u2002target\u2002cost,\u2002fixed\u2002price\u2002or\u2002rate\u2002card\u2002mechanism.\u2002The\u2002Group\u2002
also\u2002enters\u2002into\u2002framework\u2002contracts;\u2002however,\u2002the\u2002work\u2002called\u2002off\u2002under\u2002these\u2002contracts\u2002will\u2002be\u2002structured\u2002under\u2002one\u2002of\u2002the\u2002
above\u2002mechanisms.
For\u2002most\u2002contracts,\u2002there\u2002is\u2002generally\u2002one\u2002performance\u2002obligation\u2002as\u2002the\u2002works\u2002specified\u2002within\u2002the\u2002contract\u2002are\u2002integrated\u2002and\u2002the\u2002
customer\u2002procures\u2002one\u2002complete\u2002package,\u2002which\u2002may\u2002incorporate\u2002design,\u2002engineering\u2002and\u2002advisory\u2002work\u2002into\u2002the\u2002scope.
Where\u2002multiple\u2002performance\u2002obligations\u2002exist,\u2002for\u2002example,\u2002under\u2002a\u2002framework\u2002with\u2002several\u2002call\u2002off\u2002contracts,\u2002the\u2002Group\u2002accounts\u2002for\u2002
each\u2002performance\u2002obligation\u2002separately\u2002and\u2002the\u2002transaction\u2002price\u2002is\u2002determined\u2002separately\u2002for\u2002each\u2002performance\u2002obligation.\u2002Each\u2002call\u2002
off\u2002agreement\u2002typically\u2002represents\u2002a\u2002separate\u2002performance\u2002obligation;\u2002however,\u2002call\u2002off\u2002contracts\u2002are\u2002combined\u2002where\u2002appropriate.\u2002
For\u2002long-term\u2002contracts,\u2002revenue\u2002is\u2002recognised\u2002over\u2002time\u2002by\u2002measuring\u2002the\u2002progress\u2002towards\u2002complete\u2002satisfaction\u2002of\u2002the\u2002performance\u2002
obligation\u2002at\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002date.
For\u2002cost\u2002reimbursement,\u2002target\u2002cost\u2002and\u2002fixed\u2002price\u2002contracts,\u2002stage\u2002of\u2002completion\u2002is\u2002assessed\u2002by\u2002reference\u2002to\u2002the\u2002proportion\u2002
of\u2002contract\u2002costs\u2002incurred\u2002on\u2002work\u2002performed\u2002to\u2002date\u2002relative\u2002to\u2002the\u2002estimated\u2002total\u2002costs.
Rate\u2002card\u2002contracts\u2002may\u2002include\u2002management,\u2002design,\u2002implementation\u2002and\u2002support\u2002services\u2002under\u2002fixed-price\u2002and\u2002variable-price\u2002
contracts,\u2002where\u2002the\u2002customer\u2002receives\u2002and\u2002uses\u2002the\u2002benefits\u2002simultaneously.\u2002Revenue\u2002recognised\u2002is\u2002determined\u2002by\u2002the\u2002number\u2002of\u2002
hours\u2002incurred\u2002on\u2002a\u2002project\u2002multiplied\u2002by\u2002an\u2002agreed\u2002rate;\u2002where\u2002the\u2002price\u2002is\u2002fixed\u2002or\u2002capped,\u2002revenue\u2002is\u2002recognised\u2002by\u2002reference\u2002to\u2002the\u2002
proportion\u2002of\u2002labour\u2002hours\u2002worked\u2002to\u2002date\u2002relative\u2002to\u2002the\u2002estimated\u2002total\u2002number\u2002of\u2002labour\u2002hours.
Each\u2002performance\u2002obligation\u2002under\u2002a\u2002framework\u2002contract\u2002may\u2002be\u2002priced\u2002using\u2002a\u2002cost\u2002reimbursement,\u2002target\u2002cost\u2002or\u2002rate\u2002card\u2002model\u2002and\u2002
therefore\u2002the\u2002stage\u2002of\u2002completion\u2002is\u2002assessed\u2002by\u2002reference\u2002to\u2002these\u2002individual\u2002models.
Contract\u2002costs\u2002are\u2002recognised\u2002as\u2002expenses\u2002in\u2002the\u2002period\u2002in\u2002which\u2002they\u2002are\u2002incurred.\u2002Costs\u2002associated\u2002with\u2002bidding\u2002for\u2002contracts\u2002are\u2002
written\u2002off\u2002as\u2002incurred.
The\u2002scope\u2002and/or\u2002price\u2002of\u2002the\u2002works\u2002will\u2002often\u2002be\u2002subject\u2002to\u2002change,\u2002which\u2002may\u2002take\u2002the\u2002form\u2002of\u2002a\u2002variation\u2002or\u2002compensation\u2002event.
A\u2002compensation\u2002event\u2002is\u2002within\u2002the\u2002scope\u2002of\u2002existing\u2002enforceable\u2002rights\u2002and\u2002obligations.\u2002When\u2002a\u2002variation,\u2002which\u2002either\u2002creates\u2002
new,\u2002or\u2002changes\u2002existing,\u2002enforceable\u2002rights\u2002and\u2002obligations,\u2002is\u2002approved,\u2002a\u2002contract\u2002modification\u2002exists.\u2002The\u2002revenue\u2002recognition\u2002
consequences\u2002of\u2002a\u2002contract\u2002modification\u2002are\u2002recognised\u2002in\u2002one\u2002of\u2002the\u2002following\u2002ways:\u2002
(a)\u2002 \u2002prospectively\u2002as\u2002a\u2002separate\u2002contract\u2002(when\u2002new\u2002distinct\u2002goods\u2002or\u2002services\u2002are\u2002provided\u2002at\u2002an\u2002amount\u2002reflective\u2002of\u2002their\u2002standalone\u2002
selling\u2002price);
(b)\u2002 \u2002prospectively\u2002as\u2002a\u2002termination\u2002of\u2002the\u2002existing\u2002contract\u2002and\u2002creation\u2002of\u2002a\u2002new\u2002contract\u2002(where\u2002the\u2002remaining\u2002goods\u2002or\u2002services\u2002under\u2002
the\u2002original\u2002contract\u2002were\u2002distinct\u2002from\u2002those\u2002already\u2002transferred\u2002to\u2002the\u2002customer);\u2002or
(c)\u2002 \u2002using\u2002a\u2002cumulative\u2002catch\u2002up\u2002as\u2002if\u2002the\u2002modification\u2002were\u2002part\u2002of\u2002the\u2002existing\u2002contract\u2002(where\u2002the\u2002existing\u2002contract\u2019s\u2002performance\u2002
obligation\u2002was\u2002partially\u2002satisfied).
Compensation\u2002events,\u2002claims,\u2002and\u2002gain\u2002from\u2002pain/gain\u2002or\u2002other\u2002bonus\u2002assessments\u2002are\u2002included\u2002in\u2002revenue\u2002where\u2002it\u2002is\u2002highly\u2002probable\u2002
that\u2002a\u2002significant\u2002reversal\u2002of\u2002the\u2002amount\u2002of\u2002cumulative\u2002revenue\u2002recognised,\u2002which\u2002can\u2002be\u2002measured\u2002reliably,\u2002will\u2002not\u2002occur\u2002when\u2002the\u2002
associated\u2002uncertainty\u2002is\u2002subsequently\u2002resolved.\u2002Pain\u2002from\u2002pain/gain\u2002arrangements\u2002or\u2002disallowed\u2002or\u2002withheld\u2002costs\u2002are\u2002included\u2002where\u2002
probable\u2002to\u2002be\u2002incurred.\u2002Variable\u2002revenue\u2002is\u2002typically\u2002determined\u2002using\u2002the\u2002expected\u2002value\u2002method.
Where\u2002there\u2002is\u2002a\u2002change\u2002in\u2002circumstances\u2002that\u2002requires\u2002related\u2002revenue\u2002estimates\u2002to\u2002be\u2002revised,\u2002any\u2002reversal\u2002of\u2002revenue\u2002arising\u2002from\u2002a\u2002
change\u2002that\u2002occurs\u2002in\u2002the\u2002current\u2002year\u2002but\u2002affects\u2002the\u2002previously\u2002recognised\u2002position\u2002is\u2002recognised\u2002within\u2002revenue\u2002for\u2002the\u2002current\u2002year.
In\u2002the\u2002early\u2002stages\u2002of\u2002a\u2002contract,\u2002if\u2002the\u2002outcome\u2002of\u2002a\u2002performance\u2002obligation\u2002cannot\u2002be\u2002reasonably\u2002measured,\u2002revenue\u2002is\u2002recognised\u2002to\u2002
the\u2002extent\u2002of\u2002contract\u2002costs\u2002incurred,\u2002provided\u2002Costain\u2002expects\u2002to\u2002recover\u2002the\u2002costs.\u2002When\u2002it\u2002is\u2002probable\u2002that\u2002total\u2002contract\u2002costs\u2002will\u2002
exceed\u2002total\u2002revenue,\u2002giving\u2002rise\u2002to\u2002an\u2002onerous\u2002contract,\u2002the\u2002unavoidable\u2002cost\u2002is\u2002recognised\u2002as\u2002an\u2002expense\u2002in\u2002cost\u2002of\u2002sales\u2002immediately.
Contract\u2002assets\u2002are\u2002stated\u2002as\u2002revenue\u2002earned\u2002from\u2002customers\u2002but\u2002not\u2002yet\u2002certified\u2002and/or\u2002invoiced,\u2002such\u2002that\u2002the\u2002right\u2002to\u2002receive\u2002the\u2002
consideration\u2002is\u2002conditioned\u2002on\u2002something\u2002other\u2002than\u2002the\u2002passage\u2002of\u2002time.\u2002Amounts\u2002invoiced\u2002and/or\u2002certified,\u2002creating\u2002an\u2002unconditional\u2002
right\u2002to\u2002consideration,\u2002are\u2002included\u2002in\u2002trade\u2002receivables.\u2002Where\u2002cash\u2002received\u2002from\u2002or\u2002amounts\u2002invoiced\u2002to\u2002customers\u2002exceeds\u2002the\u2002value\u2002
of\u2002work\u2002performed,\u2002the\u2002amount\u2002is\u2002included\u2002in\u2002contract\u2002liabilities.
Income statement presentation \u2013 Alternative performance measures
The\u2002Group\u2002discloses\u2002alternative\u2002performance\u2002measures,\u2002in\u2002addition\u2002to\u2002statutory\u2002disclosures,\u2002to\u2002provide\u2002investors\u2002with\u2002supplementary\u2002
information\u2002which\u2002may\u2002be\u2002relevant\u2002to\u2002the\u2002Group\u2019s\u2002future\u2002performance.\u2002\u2018Adjusted\u2002profit\u2019\u2002excludes\u2002\u2018adjusting\u2002items\u2019,\u2002which\u2002are\u2002significant\u2002
items\u2002of\u2002income\u2002and\u2002expenditure\u2002that\u2002the\u2002Board\u2002considers\u2002are\u2002incremental\u2002to\u2002business\u2002operations\u2002and\u2002do\u2002not\u2002reflect\u2002the\u2002long-term\u2002
performance\u2002of\u2002the\u2002Group.\u2002These\u2002adjusted\u2002measures\u2002are\u2002reconciled\u2002to\u2002statutory\u2002disclosures,\u2002with\u2002the\u2002tax\u2002impact\u2002given,\u2002in\u2002note\u20023,\u2002
and\u2002disclosed\u2002in\u2002the\u2002segmental\u2002reporting\u2002in\u2002note\u20024.\u2002Presenting\u2002results\u2002on\u2002this\u2002basis\u2002is\u2002consistent\u2002with\u2002internal\u2002reporting\u2002to\u2002the\u2002Board.\u2002
Alternative\u2002performance\u2002measures\u2002do\u2002not\u2002have\u2002standardised\u2002meanings\u2002and,\u2002therefore,\u2002they\u2002may\u2002not\u2002be\u2002comparable\u2002between\u2002companies.
The\u2002directors\u2002exercise\u2002judgement\u2002in\u2002determining\u2002classification\u2002as\u2002an\u2002\u2018adjusting\u2002item\u2019\u2002using\u2002quantitative\u2002and\u2002qualitative\u2002factors.\u2002Consideration\u2002
is\u2002given,\u2002both\u2002individually\u2002and\u2002collectively,\u2002to\u2002the\u2002circumstances\u2002giving\u2002rise\u2002to\u2002the\u2002item,\u2002its\u2002materiality\u2002and\u2002whether\u2002it\u2002is\u2002expected\u2002to\u2002recur.
\u2018Adjusted\u2002profit\u2019\u2002may\u2002exclude\u2002income\u2002and\u2002expenditure\u2002related\u2002to\u2002acquisitions,\u2002discontinued\u2002operations,\u2002transformation\u2002costs,\u2002
restructuring\u2002costs,\u2002claims\u2002and\u2002litigation,\u2002and\u2002impairments,\u2002where\u2002the\u2002impairment\u2002is\u2002the\u2002result\u2002of\u2002an\u2002isolated,\u2002non-recurring\u2002event.\u2002
\u2018Adjusted\u2002earnings\u2002per\u2002share\u2019\u2002is\u2002calculated\u2002using\u2002\u2018adjusted\u2002profit\u2019.
The\u2002Group\u2002also\u2002presents\u2002\u2018net\u2002cash/bank\u2002debt\u2019\u2002and\u2002\u2018adjusted\u2002free\u2002cash\u2002flow\u2019\u2002as\u2002alternative\u2002performance\u2002measures\u2002in\u2002the\u2002front\u2002of\u2002the\u2002
annual\u2002report.\u2002\u2018Net\u2002cash/bank\u2002debt\u2019\u2002is\u2002defined\u2002as\u2002cash\u2002and\u2002cash\u2002equivalents\u2002less\u2002interest-bearing\u2002borrowings\u2002(excluding\u2002leases\u2002under\u2002
IFRS\u200216\u2002and\u2002net\u2002of\u2002unamortised\u2002arrangement\u2002fees)\u2002and\u2002excluding\u2002\u2018cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions\u2019.\u2002\u2018Adjusted\u2002free\u2002cash\u2002
flow\u2019\u2002is\u2002defined\u2002as\u2002cash\u2002generated\u2002from\u2002operations,\u2002excluding\u2002cash\u2002flows\u2002relating\u2002to\u2002\u2018adjusting\u2002items\u2019\u2002and\u2002pension\u2002deficit\u2002contributions,\u2002
less\u2002taxation\u2002and\u2002capital\u2002expenditure\u2002and\u2002excluding\u2002cash\u2002flows\u2002related\u2002to\u2002\u2018cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions\u2019.\u2002The\u2002directors\u2002
consider\u2002that\u2002these\u2002measures\u2002provide\u2002useful\u2002information\u2002about\u2002the\u2002Group\u2019s\u2002liquidity\u2002position.\u2002
Research and development
Research\u2002and\u2002development\u2002activities\u2002are\u2002usually\u2002directly\u2002attributable\u2002to\u2002a\u2002project\u2002and\u2002accounted\u2002for\u2002within\u2002project\u2002costs.\u2002In\u2002line\u2002with\u2002
common\u2002practice,\u2002the\u2002Group\u2002has\u2002adopted\u2002the\u2002research\u2002and\u2002development\u2002expenditure\u2002credit\u2002(RDEC)\u2002regime\u2002as\u2002these\u2002credits\u2002have\u2002
characteristics\u2002similar\u2002to\u2002government\u2002grants.\u2002RDEC\u2002credits\u2002are\u2002recognised\u2002in\u2002cost\u2002of\u2002sales.\u2002Development\u2002expenditure\u2002that\u2002satisfies\u2002all\u2002
the\u2002relevant\u2002conditions\u2002is\u2002capitalised\u2002as\u2002an\u2002intangible\u2002asset\u2002(see\u2002below).
Goodwill and other intangible assets
Goodwill\u2002arising\u2002on\u2002acquisitions\u2002represents\u2002the\u2002excess\u2002of\u2002the\u2002fair\u2002value\u2002of\u2002the\u2002consideration\u2002over\u2002the\u2002identifiable\u2002assets,\u2002liabilities\u2002and\u2002
contingent\u2002liabilities\u2002of\u2002the\u2002acquired\u2002entity\u2002and\u2002goodwill\u2002arising\u2002on\u2002the\u2002acquisition\u2002of\u2002subsidiaries\u2002is\u2002included\u2002in\u2002non-current\u2002assets.\u2002
The\u2002attributable\u2002costs\u2002of\u2002acquisitions\u2002are\u2002expensed\u2002to\u2002the\u2002income\u2002statement.\u2002
Goodwill\u2002is\u2002reviewed\u2002annually\u2002for\u2002impairment\u2002and\u2002is\u2002carried\u2002at\u2002cost\u2002less\u2002accumulated\u2002impairment\u2002losses.\u2002Goodwill\u2002is\u2002included\u2002when\u2002
determining\u2002the\u2002profit\u2002or\u2002loss\u2002on\u2002subsequent\u2002disposal\u2002of\u2002the\u2002business\u2002to\u2002which\u2002it\u2002relates.
Acquired\u2002intangible\u2002assets\u2002comprise\u2002customer\u2002relationships,\u2002order\u2002book,\u2002brand\u2002and\u2002intellectual\u2002property.\u2002Other\u2002intangible\u2002assets\u2002
comprise\u2002computer\u2002software,\u2002development\u2002expenditure\u2002and\u2002patents.\u2002Customer\u2002relationships\u2002and\u2002other\u2002acquired\u2002intangibles\u2002are\u2002
measured\u2002at\u2002the\u2002present\u2002value\u2002of\u2002cash\u2002flows\u2002attributable\u2002to\u2002the\u2002relationship\u2002less\u2002an\u2002appropriate\u2002contributory\u2002asset\u2002charge.\u2002Computer\u2002
software,\u2002development\u2002expenditure\u2002and\u2002patents\u2002are\u2002recognised\u2002at\u2002cost.
Internally\u2002generated\u2002development\u2002expenditure\u2002is\u2002recognised\u2002as\u2002an\u2002intangible\u2002asset\u2002only\u2002if\u2002all\u2002of\u2002the\u2002following\u2002conditions\u2002are\u2002satisfied:
\u2022 it\u2002is\u2002intended\u2002for\u2002use\u2002or\u2002sale,\u2002can\u2002be\u2002technically\u2002and\u2002financially\u2002completed\u2002and\u2002is\u2002able\u2002to\u2002be\u2002used\u2002as\u2002intended;
\u2022 it\u2002is\u2002probable\u2002that\u2002the\u2002asset\u2002will\u2002create\u2002future\u2002economic\u2002benefits;\u2002and
\u2022 the\u2002development\u2002costs\u2002can\u2002be\u2002measured\u2002reliably.
Once\u2002the\u2002asset\u2002is\u2002complete,\u2002subsequent\u2002expenditure\u2002is\u2002capitalised\u2002only\u2002when\u2002it\u2002increases\u2002the\u2002future\u2002economic\u2002benefits\u2002embodied\u2002in\u2002the\u2002
specific\u2002asset\u2002to\u2002which\u2002it\u2002relates,\u2002otherwise\u2002expenditure\u2002is\u2002expensed\u2002as\u2002incurred.
For\u2002Software\u2002as\u2002a\u2002Service\u2002arrangements\u2002(SaaS),\u2002the\u2002Group\u2002applies\u2002guidance\u2002as\u2002set\u2002out\u2002in\u2002the\u20022021\u2002IFRIC\u2002agenda\u2002decision\u2002on\u2002
Configuration\u2002and\u2002Customisation\u2002costs\u2002in\u2002a\u2002Cloud\u2002Computing\u2002Arrangement.\u2002Where\u2002the\u2002asset\u2002meets\u2002the\u2002definition\u2002of\u2002an\u2002intangible\u2002asset\u2002
under\u2002IAS\u200238,\u2002the\u2002costs\u2002are\u2002capitalised.\u2002Alternatively,\u2002where\u2002the\u2002SaaS\u2002provider\u2002has\u2002carried\u2002out\u2002the\u2002configuration\u2002and\u2002customisation\u2002and\u2002
the\u2002services\u2002are\u2002distinct\u2002from\u2002the\u2002SaaS\u2002arrangement,\u2002the\u2002costs\u2002are\u2002prepaid\u2002and\u2002spread\u2002over\u2002the\u2002term\u2002of\u2002the\u2002SaaS\u2002agreement.\u2002Otherwise,\u2002
the\u2002costs\u2002are\u2002expensed\u2002as\u2002incurred.
Amortisation\u2002begins\u2002when\u2002an\u2002asset\u2002is\u2002acquired\u2002or,\u2002in\u2002the\u2002case\u2002of\u2002computer\u2002software\u2002and\u2002other\u2002development\u2002assets,\u2002is\u2002available\u2002for\u2002use.\u2002
Amortisation\u2002charges\u2002are\u2002included\u2002in\u2002administration\u2002expenses\u2002and\u2002are\u2002charged\u2002over\u2002the\u2002following\u2002periods:
Customer\u2002relationships
\u2013\u2002on\u2002a\u2002straight-line\u2002basis\u2002up\u2002to\u2002seven\u2002years
Other\u2002intangibles\u2002(including\u2002other\u2002acquired)
\u2013\u2002on\u2002a\u2002straight-line\u2002basis\u2002up\u2002to\u2002five\u2002years
Property, plant and equipment
Property,\u2002plant\u2002and\u2002equipment\u2002is\u2002carried\u2002at\u2002cost\u2002less\u2002accumulated\u2002depreciation\u2002and\u2002impairment\u2002losses.\u2002Where\u2002parts\u2002of\u2002an\u2002item\u2002of\u2002
property,\u2002plant\u2002and\u2002equipment\u2002have\u2002different\u2002useful\u2002lives,\u2002they\u2002are\u2002accounted\u2002for\u2002as\u2002separate\u2002items.\u2002Cost\u2002comprises\u2002purchase\u2002price\u2002and\u2002
directly\u2002attributable\u2002costs.\u2002Depreciation\u2002is\u2002charged\u2002to\u2002administration\u2002expenses.\u2002Freehold\u2002land\u2002is\u2002not\u2002depreciated.\u2002For\u2002all\u2002other\u2002property,\u2002
plant\u2002and\u2002equipment,\u2002depreciation\u2002is\u2002calculated\u2002on\u2002a\u2002straight-line\u2002basis\u2002to\u2002allocate\u2002cost\u2002less\u2002residual\u2002values\u2002of\u2002the\u2002assets\u2002over\u2002their\u2002
estimated\u2002useful\u2002lives\u2002as\u2002follows:
Leasehold\u2002buildings
\u2013\u2002shorter\u2002of\u200250\u2002years\u2002or\u2002lease\u2002term
Vehicles,\u2002plant\u2002and\u2002equipment
\u2013\u20023\u2002to\u200210\u2002years
Leasehold\u2002improvements
\u2013\u2002lease\u2002term
The\u2002assets\u2019\u2002residual\u2002values\u2002and\u2002useful\u2002lives\u2002are\u2002reviewed\u2002and\u2002adjusted,\u2002if\u2002appropriate,\u2002at\u2002each\u2002statement\u2002of\u2002financial\u2002position\u2002date.
Investments \u2013 Company
Company\u2002investments\u2002in\u2002subsidiaries\u2002are\u2002carried\u2002at\u2002cost\u2002less\u2002provisions\u2002for\u2002impairment.
Impairment of non-financial assets
For\u2002the\u2002purposes\u2002of\u2002impairment\u2002testing,\u2002goodwill\u2002is\u2002allocated\u2002to\u2002the\u2002cash\u2002generating\u2002units\u2002expected\u2002to\u2002benefit\u2002from\u2002the\u2002synergies\u2002of\u2002
the\u2002combination.\u2002Cash\u2002generating\u2002units\u2002to\u2002which\u2002goodwill\u2002has\u2002been\u2002allocated\u2002are\u2002tested\u2002for\u2002impairment\u2002annually,\u2002or\u2002more\u2002frequently\u2002
when\u2002there\u2002is\u2002an\u2002indication\u2002that\u2002the\u2002unit\u2002may\u2002be\u2002impaired.\u2002If\u2002the\u2002recoverable\u2002amount\u2002of\u2002the\u2002cash\u2002generating\u2002unit\u2002is\u2002less\u2002than\u2002the\u2002carrying\u2002
amount\u2002of\u2002the\u2002unit,\u2002the\u2002impairment\u2002loss\u2002is\u2002allocated\u2002first\u2002to\u2002reduce\u2002the\u2002carrying\u2002amount\u2002of\u2002any\u2002goodwill\u2002allocated\u2002to\u2002the\u2002unit\u2002and\u2002then\u2002to\u2002
other\u2002assets\u2002of\u2002the\u2002unit\u2002pro-rata\u2002on\u2002the\u2002basis\u2002of\u2002the\u2002carrying\u2002amount\u2002of\u2002each\u2002asset\u2002in\u2002the\u2002unit.
The\u2002carrying\u2002amounts\u2002of\u2002other\u2002non-financial\u2002assets,\u2002except\u2002deferred\u2002tax\u2002assets,\u2002are\u2002reviewed\u2002at\u2002each\u2002statement\u2002of\u2002financial\u2002position\u2002date\u2002
to\u2002determine\u2002whether\u2002there\u2002is\u2002any\u2002indication\u2002of\u2002impairment.\u2002If\u2002any\u2002such\u2002indication\u2002exists,\u2002the\u2002asset\u2019s\u2002recoverable\u2002amount\u2002is\u2002estimated.\u2002An\u2002
impairment\u2002loss\u2002is\u2002recognised\u2002whenever\u2002the\u2002carrying\u2002amount\u2002of\u2002an\u2002asset,\u2002or\u2002its\u2002cash\u2002generating\u2002unit,\u2002is\u2002less\u2002than\u2002the\u2002recoverable\u2002amount.\u2002
Impairment\u2002losses\u2002are\u2002recognised\u2002in\u2002the\u2002income\u2002statement.
An\u2002impairment\u2002loss\u2002(other\u2002than\u2002in\u2002relation\u2002to\u2002goodwill)\u2002is\u2002reversed\u2002if\u2002there\u2002has\u2002been\u2002a\u2002change\u2002in\u2002estimates,\u2002resulting\u2002in\u2002the\u2002recoverable\u2002
amount\u2002exceeding\u2002the\u2002impaired\u2002carrying\u2002value\u2002of\u2002the\u2002asset.\u2002An\u2002impairment\u2002loss\u2002is\u2002reversed\u2002only\u2002to\u2002the\u2002extent\u2002that\u2002the\u2002carrying\u2002amount\u2002of\u2002
the\u2002asset\u2002does\u2002not\u2002exceed\u2002the\u2002carrying\u2002amount\u2002that\u2002would\u2002have\u2002been\u2002determined,\u2002net\u2002of\u2002depreciation\u2002or\u2002amortisation,\u2002if\u2002no\u2002impairment\u2002
loss\u2002had\u2002been\u2002recognised.
Provisions
A\u2002provision\u2002is\u2002recognised\u2002in\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002when\u2002there\u2002is\u2002a\u2002legal\u2002or\u2002constructive\u2002obligation\u2002as\u2002a\u2002result\u2002of\u2002a\u2002past\u2002event\u2002
and\u2002it\u2002is\u2002probable\u2002that\u2002an\u2002outflow\u2002of\u2002economic\u2002benefits\u2002will\u2002be\u2002required\u2002to\u2002settle\u2002the\u2002obligation.\u2002If\u2002the\u2002effect\u2002is\u2002material,\u2002provisions\u2002are\u2002
determined\u2002by\u2002discounting\u2002the\u2002expected\u2002future\u2002cash\u2002flows\u2002at\u2002a\u2002pre-tax\u2002rate\u2002that\u2002reflects\u2002current\u2002market\u2002assessments\u2002of\u2002the\u2002time\u2002value\u2002
of\u2002money\u2002and,\u2002where\u2002appropriate,\u2002the\u2002risks\u2002specific\u2002to\u2002the\u2002liability.
A\u2002provision\u2002for\u2002onerous\u2002contracts\u2002is\u2002recognised\u2002when\u2002the\u2002expected\u2002benefits\u2002to\u2002be\u2002derived\u2002from\u2002a\u2002contract\u2002are\u2002lower\u2002than\u2002the\u2002
unavoidable\u2002cost\u2002of\u2002meeting\u2002the\u2002obligations\u2002under\u2002the\u2002contract.
Taxation
The\u2002tax\u2002expense\u2002represents\u2002the\u2002sum\u2002of\u2002UK\u2002corporation\u2002tax\u2002and\u2002overseas\u2002tax\u2002currently\u2002payable\u2002and\u2002deferred\u2002tax.
The\u2002tax\u2002currently\u2002payable\u2002is\u2002based\u2002on\u2002the\u2002taxable\u2002profit\u2002for\u2002the\u2002year.\u2002Taxable\u2002profit\u2002differs\u2002from\u2002profit\u2002before\u2002tax\u2002as\u2002reported\u2002in\u2002the\u2002
income\u2002statement\u2002because\u2002it\u2002excludes\u2002items\u2002of\u2002income\u2002or\u2002expense\u2002that\u2002are\u2002taxable\u2002or\u2002deductible\u2002in\u2002other\u2002years\u2002and\u2002it\u2002excludes\u2002items\u2002that\u2002
are\u2002never\u2002taxable\u2002or\u2002deductible.\u2002The\u2002liability\u2002for\u2002current\u2002tax\u2002is\u2002calculated\u2002using\u2002tax\u2002rates\u2002and\u2002laws\u2002that\u2002have\u2002been\u2002enacted\u2002or\u2002substantively\u2002
enacted\u2002by\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002date.
Deferred\u2002tax\u2002is\u2002the\u2002tax\u2002expected\u2002to\u2002be\u2002payable\u2002or\u2002recoverable\u2002on\u2002differences\u2002between\u2002the\u2002carrying\u2002amounts\u2002of\u2002assets\u2002and\u2002liabilities\u2002
in\u2002the\u2002financial\u2002statements\u2002and\u2002the\u2002corresponding\u2002tax\u2002bases\u2002used\u2002in\u2002the\u2002computation\u2002of\u2002taxable\u2002profit\u2002and\u2002is\u2002accounted\u2002for\u2002using\u2002the\u2002
statement\u2002of\u2002financial\u2002position\u2002liability\u2002method.\u2002Deferred\u2002tax\u2002liabilities\u2002are\u2002generally\u2002recognised\u2002for\u2002all\u2002temporary\u2002differences\u2002except\u2002
for\u2002those\u2002specific\u2002exemptions\u2002set\u2002out\u2002below\u2002and\u2002deferred\u2002tax\u2002assets\u2002are\u2002recognised\u2002to\u2002the\u2002extent\u2002that\u2002it\u2002is\u2002probable\u2002that\u2002future\u2002taxable\u2002
profits\u2002will\u2002be\u2002available,\u2002against\u2002which\u2002deductible\u2002temporary\u2002differences\u2002can\u2002be\u2002utilised.\u2002The\u2002carrying\u2002amount\u2002of\u2002deferred\u2002tax\u2002assets\u2002
is\u2002reviewed\u2002at\u2002each\u2002statement\u2002of\u2002financial\u2002position\u2002date.
Such\u2002assets\u2002and\u2002liabilities\u2002are\u2002not\u2002recognised\u2002if\u2002the\u2002temporary\u2002difference\u2002arises\u2002from\u2002the\u2002initial\u2002recognition\u2002of\u2002goodwill\u2002or\u2002from\u2002the\u2002initial\u2002
recognition\u2002of\u2002other\u2002assets\u2002and\u2002liabilities\u2002(other\u2002than\u2002in\u2002a\u2002business\u2002combination)\u2002in\u2002a\u2002transaction\u2002that\u2002affects\u2002neither\u2002the\u2002taxable\u2002profit\u2002
nor\u2002the\u2002accounting\u2002profit.
Deferred\u2002tax\u2002is\u2002calculated\u2002at\u2002the\u2002tax\u2002rates\u2002based\u2002on\u2002those\u2002enacted\u2002or\u2002substantially\u2002enacted\u2002at\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002date.\u2002
Deferred\u2002tax\u2002is\u2002charged\u2002or\u2002credited\u2002in\u2002the\u2002income\u2002statement\u2002except\u2002when\u2002it\u2002relates\u2002to\u2002items\u2002charged\u2002or\u2002credited\u2002directly\u2002to\u2002equity,\u2002
in\u2002which\u2002case\u2002the\u2002deferred\u2002tax\u2002is\u2002also\u2002recognised\u2002in\u2002equity.
Additional\u2002taxes\u2002arising\u2002from\u2002the\u2002distribution\u2002of\u2002dividends\u2002are\u2002recognised\u2002at\u2002the\u2002same\u2002time\u2002as\u2002the\u2002liability\u2002to\u2002pay\u2002the\u2002related\u2002dividend.
Leases
Where\u2002the\u2002Group\u2002is\u2002party\u2002to\u2002a\u2002lease,\u2002except\u2002for\u2002short-term\u2002leases\u2002or\u2002leases\u2002of\u2002low-value\u2002assets\u2002(as\u2002noted\u2002below),\u2002the\u2002Group\u2002recognises\u2002
a\u2002right-of-use\u2002asset\u2002and\u2002a\u2002lease\u2002liability\u2002upon\u2002lease\u2002commencement.\u2002The\u2002major\u2002categories\u2002of\u2002leased\u2002items\u2002within\u2002the\u2002scope\u2002of\u2002IFRS\u200216\u2002
are\u2002properties,\u2002vehicles\u2002and\u2002site\u2002plant.\u2002Changes\u2002to\u2002contract\u2002scope\u2002can\u2002lengthen\u2002or\u2002shorten\u2002contract\u2002programmes\u2002and\u2002result\u2002in\u2002extensions\u2002
or\u2002early\u2002terminations\u2002to\u2002site\u2002plant\u2002lease\u2002terms.
The\u2002right-of-use\u2002asset\u2002is\u2002initially\u2002measured\u2002at\u2002cost,\u2002which\u2002comprises\u2002the\u2002initial\u2002amount\u2002of\u2002the\u2002lease\u2002liability\u2002adjusted\u2002for\u2002any\u2002lease\u2002
payments\u2002made\u2002at\u2002or\u2002before\u2002the\u2002commencement\u2002date,\u2002any\u2002initial\u2002direct\u2002costs\u2002incurred\u2002and\u2002an\u2002estimate\u2002of\u2002costs\u2002to\u2002dismantle\u2002and\u2002remove\u2002
or\u2002to\u2002restore\u2002the\u2002underlying\u2002asset\u2002or\u2002the\u2002site\u2002on\u2002which\u2002it\u2002is\u2002located,\u2002less\u2002any\u2002lease\u2002incentives\u2002received.
The\u2002asset\u2002is\u2002subsequently\u2002depreciated\u2002using\u2002the\u2002straight-line\u2002method\u2002from\u2002the\u2002commencement\u2002date\u2002to\u2002the\u2002earlier\u2002of\u2002the\u2002end\u2002of\u2002the\u2002
useful\u2002life\u2002of\u2002the\u2002asset\u2002or\u2002the\u2002end\u2002of\u2002the\u2002lease\u2002term.\u2002The\u2002estimated\u2002useful\u2002lives\u2002of\u2002right-of-use\u2002assets\u2002are\u2002determined\u2002on\u2002the\u2002same\u2002basis\u2002
as\u2002those\u2002of\u2002property,\u2002plant\u2002and\u2002equipment.\u2002The\u2002depreciation\u2002charges\u2002are\u2002included\u2002in\u2002cost\u2002of\u2002sales.\u2002In\u2002addition,\u2002the\u2002right-of-use\u2002asset\u2002
is\u2002reduced\u2002by\u2002any\u2002impairment\u2002losses\u2002and\u2002adjusted\u2002for\u2002certain\u2002remeasurements\u2002of\u2002the\u2002lease\u2002liability\u2002associated\u2002with\u2002changes\u2002to\u2002the\u2002
lease\u2002term.
The\u2002lease\u2002liability\u2002is\u2002initially\u2002measured\u2002at\u2002the\u2002present\u2002value\u2002of\u2002the\u2002lease\u2002payments\u2002payable\u2002over\u2002the\u2002lease\u2002term\u2002discounted\u2002at\u2002the\u2002interest\u2002
rate\u2002implicit\u2002in\u2002the\u2002lease,\u2002or\u2002where\u2002this\u2002cannot\u2002be\u2002readily\u2002determined,\u2002the\u2002incremental\u2002borrowing\u2002rate.
The\u2002amount\u2002charged\u2002to\u2002the\u2002income\u2002statement\u2002comprises\u2002the\u2002depreciation\u2002of\u2002the\u2002right-of-use\u2002asset\u2002and\u2002the\u2002imputed\u2002interest\u2002
on\u2002the\u2002lease\u2002liability.
Payments\u2002associated\u2002with\u2002short-term\u2002leases\u2002and\u2002leases\u2002of\u2002low-value\u2002assets\u2002are\u2002recognised\u2002on\u2002a\u2002straight-line\u2002basis\u2002as\u2002an\u2002expense\u2002
in\u2002the\u2002income\u2002statement.\u2002Short-term\u2002leases\u2002are\u2002leases\u2002with\u2002a\u2002lease\u2002term\u2002of\u200212\u2002months\u2002or\u2002less.
Guarantee contracts
Customers\u2002awarding\u2002long-term\u2002contracting\u2002work\u2002may,\u2002as\u2002a\u2002condition\u2002of\u2002the\u2002award,\u2002require\u2002the\u2002contractor\u2002to\u2002provide\u2002performance\u2002and\u2002
other\u2002bonds.\u2002Group\u2002bank\u2002borrowing\u2002facilities\u2002and\u2002bank\u2002and\u2002surety\u2002bonding\u2002facilities\u2002are\u2002supported\u2002by\u2002cross-guarantees\u2002given\u2002by\u2002the\u2002
Company\u2002and\u2002participating\u2002companies\u2002in\u2002the\u2002Group.
The\u2002Company\u2002accounts\u2002for\u2002these\u2002as\u2002financial\u2002guarantee\u2002contracts\u2002under\u2002IFRS\u20029.
Share capital
Ordinary\u2002shares\u2002are\u2002classified\u2002as\u2002equity.\u2002Incremental\u2002costs\u2002directly\u2002attributable\u2002to\u2002the\u2002issue\u2002of\u2002new\u2002shares\u2002or\u2002options\u2002are\u2002shown\u2002in\u2002equity\u2002
as\u2002a\u2002deduction,\u2002net\u2002of\u2002tax,\u2002from\u2002the\u2002proceeds.
Dividends
Dividends\u2002are\u2002recognised\u2002as\u2002distributions\u2002in\u2002the\u2002period\u2002in\u2002which\u2002they\u2002are\u2002declared.\u2002Dividends\u2002proposed\u2002but\u2002not\u2002declared\u2002are\u2002not\u2002
recognised\u2002but\u2002are\u2002disclosed\u2002in\u2002note\u200211\u2002to\u2002the\u2002financial\u2002statements.
Share-based payments
These\u2002comprise\u2002equity-settled\u2002share-based\u2002compensation\u2002plans.
Equity-settled\u2002share-based\u2002payments\u2002are\u2002measured\u2002at\u2002fair\u2002value\u2002at\u2002the\u2002date\u2002of\u2002grant\u2002and\u2002the\u2002fair\u2002value\u2002is\u2002expensed\u2002over\u2002the\u2002vesting\u2002
period,\u2002based\u2002on\u2002the\u2002estimate\u2002of\u2002awards\u2002that\u2002will\u2002eventually\u2002vest.\u2002Fair\u2002value\u2002is\u2002measured\u2002using\u2002a\u2002Black-Scholes\u2002option\u2002pricing\u2002model.
Market\u2002performance\u2002conditions\u2002are\u2002reflected\u2002in\u2002the\u2002grant\u2002date\u2002fair\u2002value\u2002of\u2002the\u2002option.\u2002Non-market\u2002vesting\u2002conditions\u2002are\u2002not\u2002included\u2002
when\u2002estimating\u2002the\u2002grant\u2002date\u2002fair\u2002value;\u2002instead,\u2002the\u2002estimate\u2002of\u2002the\u2002number\u2002of\u2002equity\u2002instruments\u2002expected\u2002to\u2002vest\u2002is\u2002revised\u2002at\u2002each\u2002
period\u2002end\u2002for\u2002changes\u2002in\u2002estimates\u2002of\u2002non-market\u2002conditions\u2002and\u2002on\u2002final\u2002vesting.
Where\u2002options\u2002over\u2002shares\u2002in\u2002the\u2002Company\u2002are\u2002granted\u2002to\u2002employees\u2002of\u2002subsidiaries,\u2002the\u2002Company\u2002recognises\u2002in\u2002its\u2002financial\u2002statements\u2002
an\u2002increase\u2002in\u2002the\u2002cost\u2002of\u2002investment\u2002in\u2002its\u2002subsidiaries\u2002equivalent\u2002to\u2002the\u2002equity-settled\u2002share-based\u2002payment\u2002charge\u2002recognised\u2002in\u2002its\u2002
subsidiaries\u2019\u2002financial\u2002statements,\u2002with\u2002the\u2002corresponding\u2002credit\u2002being\u2002recognised\u2002directly\u2002in\u2002equity.
Treasury shares
Applying\u2002the\u2002principles\u2002in\u2002IFRS\u200210,\u2002the\u2002Group\u2002controls\u2002the\u2002Employee\u2002Benefit\u2002Trust\u2002that\u2002holds\u2002small\u2002numbers\u2002of\u2002Company\u2002shares\u2002to\u2002be\u2002
issued\u2002under\u2002the\u2002Costain\u2002employee\u2002share\u2002schemes.\u2002Therefore,\u2002the\u2002Employee\u2002Benefit\u2002Trust\u2002is\u2002consolidated\u2002in\u2002these\u2002financial\u2002statements\u2002
and\u2002shares\u2002held\u2002by\u2002the\u2002Employee\u2002Benefit\u2002Trust\u2002are\u2002presented\u2002as\u2002Treasury\u2002shares,\u2002being\u2002a\u2002deduction\u2002to\u2002equity\u2002in\u2002the\u2002statement\u2002of\u2002
financial\u2002position.
Retirement benefit obligations
A\u2002defined\u2002benefit\u2002pension\u2002scheme\u2002is\u2002operated\u2002in\u2002the\u2002UK,\u2002which\u2002provides\u2002benefits\u2002based\u2002on\u2002pensionable\u2002salary\u2002and\u2002is\u2002closed\u2002to\u2002future\u2002
accrual.\u2002The\u2002details\u2002are\u2002included\u2002in\u2002note\u200221.\u2002The\u2002assets\u2002of\u2002the\u2002scheme\u2002are\u2002held\u2002separately\u2002from\u2002those\u2002of\u2002the\u2002Group.
Pension\u2002scheme\u2002assets\u2002are\u2002measured\u2002using\u2002market\u2002values.\u2002Pension\u2002scheme\u2002liabilities\u2002are\u2002measured\u2002using\u2002a\u2002projected\u2002unit\u2002method\u2002and\u2002
discounted\u2002at\u2002the\u2002current\u2002rate\u2002of\u2002return\u2002on\u2002a\u2002high-quality\u2002corporate\u2002bond\u2002of\u2002equivalent\u2002term\u2002and\u2002currency\u2002to\u2002the\u2002liability.\u2002The\u2002liability\u2002or\u2002
asset\u2002recognised\u2002in\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002in\u2002respect\u2002of\u2002the\u2002defined\u2002benefit\u2002pension\u2002scheme\u2002is\u2002the\u2002difference\u2002between\u2002the\u2002
present\u2002value\u2002of\u2002the\u2002defined\u2002benefit\u2002obligations\u2002and\u2002the\u2002fair\u2002value\u2002of\u2002scheme\u2002assets\u2002at\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002date.\u2002An\u2002asset\u2002
is\u2002recognised\u2002because\u2002any\u2002surplus\u2002on\u2002the\u2002Costain\u2002Pension\u2002Scheme\u2002would\u2002be\u2002recoverable\u2002by\u2002way\u2002of\u2002a\u2002refund,\u2002as\u2002the\u2002Group\u2002has\u2002the\u2002
unconditional\u2002right\u2002to\u2002any\u2002surplus\u2002once\u2002all\u2002the\u2002obligations\u2002of\u2002the\u2002Scheme\u2002have\u2002been\u2002settled.
Administration\u2002costs\u2002of\u2002the\u2002scheme\u2002are\u2002recognised\u2002in\u2002the\u2002income\u2002statement.\u2002The\u2002interest\u2002income\u2002or\u2002expense\u2002on\u2002the\u2002scheme\u2019s\u2002net\u2002assets\u2002
or\u2002liabilities\u2002is\u2002included\u2002in\u2002net\u2002finance\u2002income.\u2002Remeasurements\u2002of\u2002the\u2002net\u2002asset\u2002or\u2002liability\u2002are\u2002recognised\u2002in\u2002the\u2002consolidated\u2002statement\u2002
of\u2002comprehensive\u2002income.
Obligations\u2002for\u2002contributions\u2002to\u2002defined\u2002contribution\u2002pension\u2002plans\u2002are\u2002recognised\u2002as\u2002an\u2002expense\u2002in\u2002the\u2002income\u2002statement\u2002as\u2002incurred.
Financial assets and liabilities
Financial\u2002assets\u2002and\u2002financial\u2002liabilities\u2002are\u2002recognised\u2002in\u2002the\u2002Group\u2019s\u2002statement\u2002of\u2002financial\u2002position\u2002when\u2002the\u2002Group\u2002becomes\u2002a\u2002party\u2002
to\u2002the\u2002contractual\u2002provisions\u2002of\u2002the\u2002instrument.
(a)\u2002Financial\u2002assets
The\u2002classification\u2002depends\u2002on\u2002the\u2002nature\u2002and\u2002purpose\u2002of\u2002the\u2002financial\u2002asset\u2002and\u2002is\u2002determined\u2002at\u2002the\u2002time\u2002of\u2002initial\u2002recognition.
A\u2002financial\u2002asset\u2002is\u2002derecognised\u2002only\u2002when\u2002the\u2002contractual\u2002rights\u2002to\u2002the\u2002cash\u2002flows\u2002from\u2002that\u2002asset\u2002expire,\u2002or\u2002the\u2002financial\u2002asset\u2002and\u2002
substantially\u2002all\u2002the\u2002risks\u2002and\u2002rewards\u2002of\u2002ownership\u2002of\u2002the\u2002asset\u2002are\u2002transferred\u2002to\u2002another\u2002entity.
Trade\u2002and\u2002other\u2002receivables
Trade\u2002and\u2002other\u2002receivables\u2002that\u2002are\u2002financial\u2002assets\u2002do\u2002not\u2002carry\u2002interest\u2002and\u2002are\u2002stated\u2002at\u2002amortised\u2002cost\u2002less\u2002loss\u2002allowances.\u2002Trade\u2002
receivables\u2002represent\u2002an\u2002unconditional\u2002right\u2002to\u2002receive\u2002consideration.\u2002
Cash\u2002and\u2002cash\u2002equivalents
Cash\u2002and\u2002cash\u2002equivalents\u2002comprise\u2002cash\u2002balances\u2002and\u2002call\u2002deposits.\u2002This\u2002policy\u2002applies\u2002to\u2002both\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002and\u2002
the\u2002cash\u2002flow\u2002statement.
Cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions
\u2018Cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions\u2019\u2002comprise\u2002amounts\u2002held\u2002in\u2002trust\u2002accounts\u2002on\u2002behalf\u2002of\u2002certain\u2002customers\u2002and\u2002designated\u2002
for\u2002future\u2002payment\u2002to\u2002suppliers.
Impairment\u2002of\u2002financial\u2002assets
Impairment\u2002of\u2002financial\u2002assets\u2002is\u2002based\u2002on\u2002an\u2002expected\u2002credit\u2002loss\u2002model\u2002applying\u2002the\u2002simplified\u2002approach\u2002permitted\u2002under\u2002IFRS\u20029.\u2002
The\u2002Group\u2002calculates\u2002an\u2002allowance\u2002for\u2002credit\u2002losses\u2002based\u2002on\u2002the\u2002nature\u2002of\u2002the\u2002customer,\u2002experience\u2002of\u2002collecting\u2002receivables\u2002from\u2002
similar\u2002customers\u2002and\u2002modelling\u2002default\u2002scenarios\u2002and\u2002applying\u2002probabilities\u2002of\u2002such\u2002scenarios.
(b)\u2002Financial\u2002liabilities
Financial\u2002liabilities,\u2002including\u2002borrowings,\u2002are\u2002initially\u2002measured\u2002at\u2002fair\u2002value,\u2002net\u2002of\u2002transaction\u2002costs.\u2002Financial\u2002liabilities\u2002are\u2002subsequently\u2002
measured\u2002at\u2002amortised\u2002cost\u2002using\u2002the\u2002effective\u2002interest\u2002method,\u2002with\u2002interest\u2002expense\u2002recognised\u2002on\u2002an\u2002effective\u2002yield\u2002basis.
Financial\u2002liabilities\u2002are\u2002derecognised\u2002only\u2002when\u2002the\u2002obligations\u2002are\u2002discharged,\u2002cancelled\u2002or\u2002expire.
Trade\u2002and\u2002other\u2002payables
Trade\u2002and\u2002other\u2002payables\u2002that\u2002are\u2002financial\u2002liabilities\u2002are\u2002recognised\u2002initially\u2002at\u2002fair\u2002value\u2002and\u2002subsequently\u2002measured\u2002at\u2002amortised\u2002cost\u2002
using\u2002the\u2002effective\u2002interest\u2002method.
(c)\u2002Fair\u2002value\u2002measurement
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\u2022 Level\u20021:\u2002Quoted\u2002prices\u2002(unadjusted)\u2002in\u2002active\u2002markets\u2002for\u2002identical\u2002assets\u2002and\u2002liabilities.
\u2022 Level\u20022:\u2002Inputs\u2002other\u2002than\u2002quoted\u2002prices\u2002included\u2002within\u2002Level\u20021\u2002that\u2002are\u2002observable\u2002for\u2002the\u2002asset\u2002or\u2002liability,\u2002either\u2002directly\u2002
(i.e.\u2002as\u2002prices)\u2002or\u2002indirectly\u2002(i.e.\u2002derived\u2002from\u2002prices).
\u2022 Level\u20023:\u2002Inputs\u2002for\u2002the\u2002asset\u2002or\u2002liability\u2002that\u2002are\u2002not\u2002based\u2002on\u2002observable\u2002market\u2002data\u2002(unobservable\u2002inputs).
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the\u2002fair\u2002value\u2002measurement\u2002is\u2002categorised\u2002in\u2002its\u2002entirety\u2002in\u2002the\u2002same\u2002level\u2002of\u2002the\u2002hierarchy\u2002as\u2002the\u2002lowest\u2002level\u2002input\u2002that\u2002is\u2002significant\u2002
to\u2002the\u2002entire\u2002measurement.
Significant areas of judgement and estimation
The\u2002estimates\u2002and\u2002underlying\u2002assumptions\u2002used\u2002in\u2002the\u2002preparation\u2002of\u2002these\u2002financial\u2002statements\u2002are\u2002reviewed\u2002on\u2002an\u2002ongoing\u2002basis.\u2002
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or\u2002in\u2002the\u2002period\u2002of\u2002the\u2002revision\u2002and\u2002future\u2002periods\u2002if\u2002the\u2002revision\u2002affects\u2002both\u2002current\u2002and\u2002future\u2002periods.
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to\u2002tax\u2002losses\u2002and\u2002the\u2002items\u2002classified\u2002as\u2002\u2018adjusting\u2002items\u2019.
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by\u2002the\u2002Group\u2002with\u2002multiple\u2002performance\u2002obligations\u2002are\u2002framework\u2002contracts.\u2002In\u2002most\u2002cases,\u2002the\u2002obligations\u2002are\u2002satisfied\u2002over\u2002time\u2002
and\u2002estimates\u2002are\u2002made\u2002of\u2002the\u2002total\u2002contract\u2002costs\u2002and\u2002revenues.\u2002In\u2002many\u2002cases,\u2002these\u2002obligations\u2002span\u2002more\u2002than\u2002one\u2002financial\u2002year.\u2002
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may\u2002need\u2002to\u2002be\u2002revised\u2002as\u2002events\u2002unfold\u2002and\u2002uncertainties\u2002are\u2002resolved.\u2002Cost\u2002forecasts\u2002take\u2002into\u2002account\u2002the\u2002expectations\u2002of\u2002work\u2002
to\u2002be\u2002undertaken\u2002on\u2002the\u2002contract.\u2002Revenue\u2002forecasts\u2002take\u2002into\u2002account\u2002compensation\u2002events,\u2002variations\u2002and\u2002claims\u2002and\u2002assessments,\u2002
for\u2002example,\u2002of\u2002the\u2002impact\u2002of\u2002pain/gain\u2002arrangements\u2002and\u2002disallowed\u2002or\u2002withheld\u2002costs,\u2002to\u2002the\u2002extent\u2002that\u2002the\u2002amounts\u2002the\u2002Group\u2002
expects\u2002to\u2002recover\u2002can\u2002be\u2002reliably\u2002estimated\u2002and\u2002are\u2002highly\u2002probable\u2002not\u2002to\u2002reverse.
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obligation\u2002on\u2002the\u2002latest\u2002available\u2002information.\u2002This\u2002includes\u2002detailed\u2002contract\u2002valuations,\u2002progress\u2002on\u2002discussions\u2002over\u2002compensation\u2002
events,\u2002variations\u2002and\u2002claims\u2002with\u2002customers,\u2002progress\u2002against\u2002the\u2002latest\u2002programme\u2002for\u2002completing\u2002the\u2002works,\u2002forecasts\u2002of\u2002the\u2002costs\u2002to\u2002
complete\u2002and,\u2002in\u2002certain\u2002cases,\u2002assessments\u2002of\u2002recoveries\u2002from\u2002insurers,\u2002suppliers\u2002and\u2002contractors,\u2002where\u2002these\u2002are\u2002considered\u2002virtually\u2002
certain.\u2002Revenue\u2002is\u2002recognised\u2002to\u2002the\u2002extent\u2002that\u2002amounts\u2002forecast\u2002from\u2002compensation\u2002events,\u2002variations\u2002and\u2002claims\u2002are\u2002agreed\u2002or\u2002
considered\u2002in\u2002management\u2019s\u2002judgement\u2002highly\u2002probable\u2002to\u2002be\u2002agreed.\u2002
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recoveries\u2002with\u2002a\u2002combined\u2002value\u2002of\u2002\u00a38.6m\u2002(2023:\u2002\u00a311.9m),\u2002on\u2002the\u2002basis\u2002that\u2002these\u2002are\u2002considered\u2002highly\u2002probable\u2002not\u2002to\u2002reverse.\u2002
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that\u2002the\u2002estimation\u2002uncertainty\u2002in\u2002relation\u2002to\u2002these\u2002contracts\u2002ranges\u2002from\u2002a\u2002potential\u2002upside\u2002of\u2002\u00a311.2m\u2002to\u2002a\u2002downside\u2002of\u2002\u00a38.6m\u2002(2023:\u2002a\u2002
potential\u2002upside\u2002of\u2002\u00a329.7m\u2002to\u2002a\u2002downside\u2002of\u2002\u00a311.9m.
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incentive\u2002arrangements,\u2002such\u2002as\u2002pain/gain\u2002mechanisms\u2002and\u2002bonus\u2002or\u2002KPI\u2002arrangements,\u2002as\u2002well\u2002as\u2002final\u2002conclusions\u2002regarding\u2002claims\u2002and\u2002
compensation\u2002events\u2002and\u2002assessments\u2002of,\u2002for\u2002example,\u2002costs\u2002disallowed\u2002under\u2002the\u2002contract.
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developed\u2002and\u2002work\u2002is\u2002expected\u2002to\u2002commence\u2002on\u2002a\u2002revised\u2002programme\u2002with\u2002the\u2002supply\u2002chain,\u2002including\u2002the\u2002Skanska-Costain-Strabag\u2002
Joint\u2002Venture.\u2002Our\u20022024\u2002financial\u2002result\u2002reflects\u2002the\u2002current\u2002contractual\u2002position.
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highlighted\u2002through\u2002established\u2002internal\u2002review\u2002procedures.\u2002The\u2002impact\u2002of\u2002any\u2002change\u2002in\u2002the\u2002accounting\u2002estimates\u2002both\u2002positive\u2002and\u2002
negative\u2002is\u2002then\u2002reflected\u2002in\u2002the\u2002financial\u2002statements.
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the\u2002next\u2002financial\u2002year.\u2002Given\u2002the\u2002inherent\u2002complexity\u2002and\u2002pervasive\u2002impact\u2002of\u2002the\u2002various\u2002judgements\u2002and\u2002estimates\u2002impacting\u2002revenue,\u2002
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on\u2002each\u2002of\u2002these\u2002judgements.
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at\u2002a\u2002customer\u2019s\u2002water\u2002treatment\u2002facility\u2002where\u2002the\u2002Group\u2002had\u2002been\u2002prime\u2002contractor.
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of\u2002rectification\u2002work\u2002required\u2002and\u2002the\u2002Group\u2019s\u2002best\u2002estimate\u2002of\u2002the\u2002cost\u2002of\u2002the\u2002single\u2002most\u2002likely\u2002rectification\u2002solution\u2002at\u2002this\u2002time\u2002was\u2002
\u00a317.0m.\u2002Costs\u2002of\u2002\u00a34.8m\u2002had\u2002been\u2002incurred\u2002at\u2002the\u2002end\u2002of\u20022022,\u2002and\u2002accordingly,\u2002a\u2002provision\u2002of\u2002\u00a312.2m\u2002was\u2002included\u2002in\u2002the\u2002statement\u2002
of\u2002financial\u2002position.\u2002A\u2002number\u2002of\u2002assumptions\u2002were\u2002made\u2002in\u2002arriving\u2002at\u2002the\u2002cost\u2002estimate\u2002and\u2002management\u2002considered\u2002that\u2002the\u2002ultimate\u2002
cost\u2002would\u2002fall\u2002within\u2002a\u2002range\u2002of\u2002\u00b130%\u2002of\u2002the\u2002estimated\u2002total.
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estimation\u2002uncertainty\u2002to\u2002a\u2002range\u2002of\u2002-8%/+13%\u2002with\u2002the\u2002revised\u2002estimated\u2002total\u2002cost\u2002being\u2002\u00a319.3m.\u2002Costs\u2002of\u2002\u00a37.7m\u2002had\u2002been\u2002incurred\u2002
to\u2002date\u2002and\u2002therefore\u2002the\u2002provision\u2002disclosed\u2002in\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002was\u2002\u00a311.6m.
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incurred\u2002to\u2002date\u2002against\u2002a\u2002revised\u2002total\u2002estimated\u2002cost\u2002of\u2002\u00a321.9m,\u2002with\u2002this\u2002increase\u2002predominantly\u2002as\u2002a\u2002result\u2002of\u2002civils\u2002costs\u2002and\u2002delays\u2002
in\u2002the\u2002supply\u2002chain.\u2002The\u2002provision\u2002disclosed\u2002in\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002is\u2002therefore\u2002\u00a35.8m.\u2002Work\u2002is\u2002now\u2002due\u2002to\u2002be\u2002completed\u2002
in\u20022025.\u2002
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all\u2002reasonable\u2002costs\u2002of\u2002rectification\u2002work\u2002that\u2002are\u2002validly\u2002incurred\u2002will\u2002be\u2002met\u2002by\u2002insurers.\u2002Consistent\u2002with\u2002this,\u2002insurers\u2002continued\u2002to\u2002
make\u2002interim\u2002payments\u2002on\u2002account\u2002during\u20022024.\u2002On\u2002this\u2002basis,\u2002management\u2002has\u2002made\u2002a\u2002judgement\u2002that\u2002the\u2002costs\u2002of\u2002rectification,\u2002after\u2002
deduction\u2002of\u2002insurers\u2019\u2002excess\u2002and\u2002amounts\u2002already\u2002received\u2002from\u2002insurers,\u2002will\u2002be\u2002recovered.\u2002Accordingly,\u2002an\u2002insurance\u2002receivable\u2002of\u2002
\u00a38.8m\u2002is\u2002recognised\u2002in\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002as\u2002a\u2002current\u2002asset\u2002at\u200231\u2002December\u20022024\u2002in\u2002accordance\u2002with\u2002IAS\u200237\u2002on\u2002the\u2002basis\u2002
that\u2002recovery\u2002is\u2002considered\u2002virtually\u2002certain\u2002and\u2002is\u2002expected\u2002in\u20022025.\u2002There\u2002is\u2002a\u2002cap\u2002on\u2002insurance\u2002but\u2002the\u2002cap\u2002is\u2002significantly\u2002in\u2002excess\u2002of\u2002
the\u2002cost\u2002estimate.\u2002As\u2002at\u200231\u2002December\u20022023\u2002and\u20022022\u2002respectively,\u2002\u00a312.7m\u2002and\u2002\u00a313.4m\u2002had\u2002been\u2002recognised\u2002as\u2002an\u2002insurance\u2002receivable.
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the\u2002cash\u2002generating\u2002units\u2002to\u2002which\u2002the\u2002goodwill\u2002has\u2002been\u2002allocated.\u2002These\u2002assessments\u2002involve\u2002estimation\u2002and\u2002judgement,\u2002principally\u2002
in\u2002respect\u2002of\u2002the\u2002levels\u2002of\u2002operating\u2002margins,\u2002growth\u2002rates\u2002and\u2002future\u2002cash\u2002flows\u2002of\u2002the\u2002cash\u2002generating\u2002units\u2002and\u2002also\u2002include\u2002
consideration\u2002of\u2002the\u2002impact\u2002of\u2002potential\u2002sensitivities\u2002in\u2002respect\u2002of\u2002those\u2002assumptions.\u2002The\u2002discount\u2002rates\u2002used\u2002to\u2002calculate\u2002present\u2002values\u2002
and,\u2002where\u2002a\u2002reasonable\u2002possible\u2002change\u2002in\u2002assumptions\u2002may\u2002give\u2002rise\u2002to\u2002an\u2002impairment,\u2002related\u2002sensitivities\u2002are\u2002set\u2002out\u2002in\u2002note\u200212.
Defined\u2002benefit\u2002pension\u2002scheme
Defined\u2002benefit\u2002pension\u2002schemes\u2002require\u2002significant\u2002estimates\u2002in\u2002relation\u2002to\u2002the\u2002assumptions\u2002for\u2002the\u2002discount\u2002rate,\u2002inflation\u2002and\u2002member\u2002
longevity\u2002that\u2002underpin\u2002the\u2002valuation.\u2002Each\u2002year\u2002in\u2002selecting\u2002the\u2002appropriate\u2002assumptions,\u2002the\u2002directors\u2002take\u2002advice\u2002from\u2002an\u2002independent\u2002
qualified\u2002actuary.\u2002The\u2002assumptions\u2002and\u2002resultant\u2002sensitivities\u2002are\u2002set\u2002out\u2002in\u2002note\u200221.
Deferred\u2002tax\u2002
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that\u2002the\u2002losses\u2002will\u2002be\u2002used\u2002against\u2002future\u2002taxable\u2002profits\u2002of\u2002the\u2002Group\u2002over\u2002an\u2002estimated\u2002period\u2002of\u2002three\u2002years\u2002(2023:\u2002four\u2002years).\u2002The\u2002
significant\u2002judgement\u2002in\u2002assessing\u2002the\u2002recoverability\u2002relates\u2002to\u2002the\u2002ability\u2002of\u2002the\u2002Group\u2002to\u2002achieve\u2002its\u2002taxable\u2002profit\u2002forecasts\u2002and\u2002the\u2002
ability\u2002of\u2002these\u2002estimated\u2002numbers\u2002to\u2002withstand\u2002the\u2002application\u2002of\u2002what\u2002the\u2002Board\u2002considers\u2002appropriate\u2002sensitivities.\u2002Details\u2002of\u2002deferred\u2002
tax\u2002assets\u2002are\u2002shown\u2002in\u2002note\u20029.
Adjusting\u2002items
As\u2002described\u2002in\u2002this\u2002note,\u2002management\u2002has\u2002used\u2002judgement\u2002to\u2002determine\u2002the\u2002items\u2002classified\u2002as\u2002\u2018adjusting\u2002items\u2019\u2002as\u2002set\u2002out\u2002in\u2002note\u20023.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-323": { "value": "Basis of preparation The\u2002Group\u2002consolidated\u2002financial\u2002statements\u2002have\u2002been\u2002prepared\u2002and\u2002approved\u2002by\u2002the\u2002directors\u2002in\u2002accordance\u2002with\u2002UK-adopted\u2002international\u2002accounting\u2002standards\u2002and\u2002with\u2002the\u2002requirements\u2002of\u2002the\u2002Companies\u2002Act\u20022006\u2002as\u2002applicable\u2002to\u2002companies\u2002reporting\u2002under\u2002those\u2002standards.\u2002The\u2002Company\u2002financial\u2002statements\u2002have\u2002been\u2002prepared\u2002and\u2002approved\u2002by\u2002the\u2002directors\u2002in\u2002accordance\u2002with\u2002Financial\u2002Reporting\u2002Standard\u2002101,\u2002\u2018Reduced\u2002disclosure\u2002framework\u2019\u2002(FRS\u2002101)\u2002and\u2002with\u2002the\u2002requirements\u2002of\u2002the\u2002Companies\u2002Act\u20022006.\u2002On\u2002publishing\u2002the\u2002Parent\u2002Company\u2002financial\u2002statements\u2002here\u2002together\u2002with\u2002the\u2002Group\u2002financial\u2002statements,\u2002the\u2002Company\u2002is\u2002taking\u2002advantage\u2002of\u2002the\u2002exemption\u2002in\u2002Section\u2002408\u2002of\u2002the\u2002Companies\u2002Act\u20022006\u2002not\u2002to\u2002present\u2002its\u2002individual\u2002income\u2002statement\u2002and\u2002related\u2002notes\u2002that\u2002form\u2002a\u2002part\u2002of\u2002these\u2002approved\u2002financial\u2002statements. These\u2002financial\u2002statements\u2002are\u2002presented\u2002in\u2002pounds\u2002sterling,\u2002rounded\u2002to\u2002the\u2002nearest\u2002hundred\u2002thousand.\u2002The\u2002financial\u2002statements\u2002are\u2002prepared\u2002on\u2002the\u2002historical\u2002cost\u2002basis,\u2002except\u2002that\u2002pension\u2002plan\u2002assets\u2002are\u2002measured\u2002at\u2002their\u2002fair\u2002value.\u2002In\u2002preparing\u2002the\u2002financial\u2002statements\u2002of\u2002the\u2002Group,\u2002an\u2002assessment\u2002of\u2002the\u2002impact\u2002of\u2002climate\u2002change\u2002was\u2002performed\u2002with\u2002reference\u2002to\u2002the\u2002disclosures\u2002made\u2002in\u2002the\u2002Strategic\u2002Report.\u2002There\u2002has\u2002been\u2002no\u2002material\u2002impact\u2002on\u2002the\u2002financial\u2002statements\u2002in\u2002the\u2002current\u2002year\u2002from\u2002the\u2002Group\u2019s\u2002assessment\u2002of\u2002the\u2002impact\u2002of\u2002climate\u2002change,\u2002including\u2002estimates\u2002and\u2002judgements\u2002made,\u2002specifically\u2002in\u2002relation\u2002to\u2002long-term\u2002contract\u2002accounting.\u2002Related\u2002risks\u2002and\u2002opportunities\u2002have\u2002been\u2002factored\u2002into\u2002future\u2002cash\u2002flow\u2002forecasts\u2002to\u2002the\u2002best\u2002of\u2002management\u2019s\u2002ability. The\u2002preparation\u2002of\u2002the\u2002Group\u2002and\u2002Company\u2002financial\u2002statements\u2002requires\u2002management\u2002to\u2002make\u2002judgements,\u2002estimates\u2002and\u2002assumptions\u2002that\u2002affect\u2002the\u2002application\u2002of\u2002policies\u2002and\u2002reported\u2002amounts\u2002of\u2002assets\u2002and\u2002liabilities,\u2002income\u2002and\u2002expenses.\u2002The\u2002estimates\u2002and\u2002associated\u2002assumptions\u2002are\u2002based\u2002on\u2002historical\u2002experience\u2002and\u2002various\u2002other\u2002factors\u2002that\u2002are\u2002believed\u2002to\u2002be\u2002reasonable\u2002under\u2002the\u2002circumstances.\u2002These\u2002form\u2002the\u2002basis\u2002of\u2002making\u2002the\u2002judgements\u2002about\u2002carrying\u2002values\u2002of\u2002assets\u2002and\u2002liabilities\u2002that\u2002are\u2002not\u2002readily\u2002apparent\u2002from\u2002other\u2002sources.\u2002Actual\u2002results\u2002may\u2002differ\u2002from\u2002these\u2002estimates.\u2002Judgements\u2002made\u2002by\u2002management\u2002that\u2002have\u2002a\u2002significant\u2002effect\u2002on\u2002the\u2002financial\u2002statements\u2002and\u2002estimates\u2002with\u2002a\u2002significant\u2002risk\u2002of\u2002material\u2002adjustment\u2002in\u2002the\u2002following\u2002financial\u2002years\u2002are\u2002discussed\u2002later\u2002in\u2002this\u2002note. The\u2002following\u2002exemptions\u2002have\u2002been\u2002applied\u2002in\u2002the\u2002preparation\u2002of\u2002the\u2002Company\u2002financial\u2002statements,\u2002in\u2002accordance\u2002with\u2002FRS\u2002101: \u2022 IFRS\u20027,\u2002\u2018Financial\u2002instruments:\u2002Disclosures\u2019. \u2022 Paragraphs\u200291\u2002to\u200299\u2002of\u2002IFRS\u200213,\u2002\u2018Fair\u2002value\u2002measurement\u2019\u2002(disclosure\u2002of\u2002valuation\u2002techniques\u2002and\u2002inputs\u2002used\u2002for\u2002fair\u2002value\u2002measurement\u2002of\u2002assets\u2002and\u2002liabilities). \u2022 The\u2002following\u2002paragraphs\u2002of\u2002IAS\u20021,\u2002\u2018Presentation\u2002of\u2002financial\u2002statements\u2019: \u2013 10(d)\u2002(statement\u2002of\u2002cash\u2002flows); \u2013 16\u2002(statement\u2002of\u2002compliance\u2002with\u2002all\u2002IFRS); \u2013 38A\u2002(requirement\u2002for\u2002minimum\u2002of\u2002two\u2002primary\u2002statements,\u2002including\u2002cash\u2002flow\u2002statements); \u2013 38B-D\u2002(additional\u2002comparative\u2002information); \u2013 111\u2002(statement\u2002of\u2002cash\u2002flows\u2002information);\u2002and \u2013 134-136\u2002(capital\u2002management\u2002disclosures). \u2022 IAS\u20027,\u2002\u2018Statement\u2002of\u2002cash\u2002flows\u2019. \u2022 Paragraph\u200217\u2002of\u2002IAS\u200224,\u2002\u2018Related\u2002party\u2002disclosures\u2019\u2002(key\u2002management\u2002compensation). \u2022 The\u2002requirements\u2002in\u2002IAS\u200224,\u2002\u2018Related\u2002party\u2002disclosures\u2019,\u2002to\u2002disclose\u2002related\u2002party\u2002transactions\u2002entered\u2002into\u2002between\u2002two\u2002or\u2002more\u2002members\u2002of\u2002a\u2002group. ", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-365": { "value": "The\u2002Group\u2002consolidated\u2002financial\u2002statements\u2002have\u2002been\u2002prepared\u2002and\u2002approved\u2002by\u2002the\u2002directors\u2002in\u2002accordance\u2002with\u2002UK-adopted\u2002international\u2002accounting\u2002standards\u2002and\u2002with\u2002the\u2002requirements\u2002of\u2002the\u2002Companies\u2002Act\u20022006\u2002as\u2002applicable\u2002to\u2002companies\u2002reporting\u2002under\u2002those\u2002standards.\u2002", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-366": { "value": "These\u2002financial\u2002statements\u2002are\u2002presented\u2002in\u2002pounds\u2002sterling,\u2002rounded\u2002to\u2002the\u2002nearest\u2002hundred\u2002thousand.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-324": { "value": "Going concern The\u2002Group\u2019s\u2002business\u2002activities\u2002and\u2002the\u2002factors\u2002likely\u2002to\u2002affect\u2002its\u2002future\u2002development,\u2002performance\u2002and\u2002position\u2002are\u2002set\u2002out\u2002in\u2002the\u2002Strategic\u2002Report.\u2002The\u2002financial\u2002position\u2002of\u2002the\u2002Group,\u2002its\u2002cash\u2002flows,\u2002liquidity\u2002position,\u2002borrowing\u2002and\u2002bonding\u2002facilities,\u2002use\u2002of\u2002financial\u2002instruments,\u2002exposure\u2002to\u2002credit\u2002risk\u2002and\u2002its\u2002objectives,\u2002policies\u2002and\u2002processes\u2002for\u2002managing\u2002its\u2002capital\u2002and\u2002financial\u2002risk\u2002are\u2002described\u2002in\u2002the\u2002Chief\u2002Financial\u2002Officer\u2019s\u2002review\u2002and\u2002in\u2002note\u200218. The\u2002Group\u2019s\u2002principal\u2002business\u2002activity\u2002involves\u2002work\u2002on\u2002the\u2002UK\u2019s\u2002infrastructure,\u2002mostly\u2002delivering\u2002long-term\u2002contracts\u2002with\u2002a\u2002number\u2002of\u2002customers.\u2002To\u2002meet\u2002its\u2002day-to-day\u2002working\u2002capital\u2002requirements,\u2002it\u2002uses\u2002cash\u2002balances\u2002provided\u2002from\u2002shareholders\u2019\u2002capital\u2002and\u2002retained\u2002earnings\u2002and\u2002its\u2002borrowing\u2002facilities.\u2002The\u2002Group\u2019s\u2002bank\u2002and\u2002bonding\u2002facilities,\u2002which\u2002expire\u2002in\u2002September\u20022026,\u2002comprise\u2002an\u2002\u00a385m\u2002sustainability-linked\u2002revolving\u2002credit\u2002facility\u2002(RCF)\u2002and\u2002surety\u2002and\u2002bank\u2002bonding\u2002facilities\u2002totalling\u2002\u00a3270m.\u2002The\u2002RCF\u2002facility\u2002is\u2002currently\u2002undrawn. These\u2002facilities\u2002have\u2002a\u2002leverage\u2002covenant\u2002of\u2002net\u2002debt/adjusted\u2002EBITDA\u2002\u22641.5\u2002times,\u2002an\u2002interest\u2002covenant\u2002of\u2002adjusted\u2002EBITA/net\u2002interest\u2002payable\u2002of\u2002\u22654.0\u2002times\u2002and\u2002a\u2002liquidity\u2002covenant\u2002whereby\u2002the\u2002aggregate\u2002of,\u2002without\u2002double\u2002counting,\u2002any\u2002cash\u2002and\u2002cash\u2002equivalent\u2002investments\u2002and\u2002the\u2002available\u2002commitment\u2002under\u2002the\u2002facility\u2002does\u2002not\u2002fall\u2002below\u2002\u00a350m.\u2002These\u2002financial\u2002covenants\u2002are\u2002tested\u2002quarterly.\u2002As\u2002at\u200231\u2002December\u20022024,\u2002the\u2002Group\u2002had\u2002a\u2002leverage\u2002covenant\u2002ratio\u2002of\u2002below\u2002zero\u2002(the\u2002Group\u2002had\u2002no\u2002net\u2002debt)\u2002and\u2002an\u2002interest\u2002covenant\u2002ratio\u2002of\u200211.1\u2002times.\u2002As\u2002part\u2002of\u2002its\u2002contracting\u2002operations,\u2002the\u2002Group\u2002may\u2002be\u2002required\u2002to\u2002provide\u2002performance\u2002and\u2002other\u2002bonds.\u2002It\u2002satisfies\u2002these\u2002requirements\u2002by\u2002utilising\u2002its\u2002\u00a320m\u2002bank\u2002bonding\u2002and\u2002\u00a3250m\u2002surety\u2002company\u2002bonding\u2002facilities. In\u2002determining\u2002the\u2002appropriate\u2002basis\u2002of\u2002preparation\u2002of\u2002the\u2002financial\u2002statements\u2002for\u2002the\u2002year\u2002ended\u200231\u2002December\u20022024,\u2002the\u2002directors\u2002are\u2002required\u2002to\u2002consider\u2002whether\u2002the\u2002Group\u2002and\u2002the\u2002Company\u2002can\u2002continue\u2002in\u2002operational\u2002existence\u2002for\u2002the\u2002foreseeable\u2002future,\u2002being\u2002a\u2002period\u2002of\u2002at\u2002least\u2002twelve\u2002months\u2002from\u2002the\u2002date\u2002of\u2002approval\u2002of\u2002the\u2002financial\u2002statements. In\u2002assessing\u2002the\u2002going\u2002concern\u2002assumption,\u2002the\u2002Board\u2002reviewed\u2002the\u2002Group\u2019s\u2002base\u2002case\u2002plans\u2002for\u2002the\u200215\u2002month\u2002period\u2002to\u200230\u2002June\u20022026,\u2002being\u2002a\u2002period\u2002of\u2002more\u2002than\u200212\u2002months\u2002from\u2002the\u2002date\u2002of\u2002approval\u2002of\u2002these\u2002financial\u2002statements.\u2002The\u2002directors\u2002have\u2002assumed\u2002that\u2002the\u2002current\u2002RCF\u2002remains\u2002in\u2002place\u2002with\u2002the\u2002same\u2002covenant\u2002requirements\u2002through\u2002to\u2002its\u2002current\u2002expiry\u2002date,\u2002which\u2002is\u2002beyond\u2002the\u2002end\u2002of\u2002the\u2002period\u2002reviewed\u2002for\u2002Going\u2002Concern\u2002purposes.\u2002The\u2002base\u2002case\u2002assumes\u2002delivery\u2002of\u2002the\u2002Board\u2002approved\u2002strategic\u2002and\u2002financial\u2002plans.\u2002As\u2002part\u2002of\u2002the\u2002assessment,\u2002the\u2002Board\u2002also\u2002identified\u2002severe\u2002but\u2002plausible\u2002downsides\u2002affecting\u2002future\u2002profitability,\u2002working\u2002capital\u2002requirements\u2002and\u2002cash\u2002flow.\u2002The\u2002severe\u2002but\u2002plausible\u2002downsides\u2002include\u2002applying\u2002the\u2002aggregated\u2002impact\u2002of\u2002lower\u2002revenue,\u2002lower\u2002margins,\u2002higher\u2002working\u2002capital\u2002requirements\u2002and\u2002adverse\u2002contract\u2002settlements. Both\u2002the\u2002base\u2002case\u2002and\u2002severe\u2002but\u2002plausible\u2002forecasts\u2002show\u2002significant\u2002headroom\u2002and\u2002indicate\u2002that\u2002the\u2002Group\u2002and\u2002the\u2002Company\u2002will\u2002be\u2002able\u2002to\u2002operate\u2002within\u2002available\u2002banking\u2002facilities\u2002and\u2002covenants\u2002throughout\u2002this\u2002period. Having\u2002undertaken\u2002a\u2002rigorous\u2002assessment\u2002of\u2002the\u2002financial\u2002forecasts,\u2002including\u2002its\u2002liquidity\u2002and\u2002compliance\u2002with\u2002covenants,\u2002the\u2002Board\u2002considers\u2002that\u2002the\u2002Group\u2002and\u2002the\u2002Company\u2002have\u2002adequate\u2002resources\u2002to\u2002remain\u2002in\u2002operation\u2002for\u2002the\u2002foreseeable\u2002future\u2002and,\u2002therefore,\u2002the\u2002directors\u2002have\u2002adopted\u2002the\u2002going\u2002concern\u2002basis\u2002in\u2002the\u2002preparation\u2002of\u2002the\u2002financial\u2002statements. ", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-6": { "value": "The\u2002Group\u2019s\u2002principal\u2002business\u2002activity\u2002involves\u2002work\u2002on\u2002the\u2002UK\u2019s\u2002infrastructure,\u2002mostly\u2002delivering\u2002long-term\u2002contracts\u2002with\u2002a\u2002number\u2002of\u2002customers.", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-399": { "value": "New and amended standards adopted by the Group The\u2002accounting\u2002policies\u2002set\u2002out\u2002in\u2002this\u2002note\u2002have\u2002been\u2002applied\u2002consistently\u2002by\u2002the\u2002Group\u2002and\u2002the\u2002Company\u2002to\u2002each\u2002period\u2002presented\u2002in\u2002these\u2002financial\u2002statements,\u2002except\u2002for\u2002the\u2002adoption\u2002of\u2002the\u2002new\u2002accounting\u2002standards\u2002noted\u2002below. The\u2002Group\u2002has\u2002applied\u2002the\u2002following\u2002standards\u2002and\u2002amendments\u2002for\u2002the\u2002first\u2002time\u2002for\u2002its\u2002annual\u2002reporting\u2002period\u2002commencing\u20021\u2002January\u20022024: \u2022 Classification\u2002of\u2002Liabilities\u2002as\u2002Current\u2002or\u2002Non-current\u2002and\u2002Non-current\u2002liabilities\u2002with\u2002covenants\u2002\u2013\u2002Amendments\u2002to\u2002IAS\u20021;\u2002\u2022 Lease\u2002liability\u2002in\u2002a\u2002Sale\u2002and\u2002Leaseback\u2002\u2013\u2002Amendments\u2002to\u2002IFRS\u200216;\u2002and\u2002\u2022 Supplier\u2002Finance\u2002Arrangements\u2002\u2013\u2002Amendments\u2002to\u2002IAS\u20027\u2002and\u2002IFRS\u20027.\u2002The\u2002amendments\u2002listed\u2002above\u2002did\u2002not\u2002have\u2002any\u2002impact\u2002on\u2002the\u2002amounts\u2002recognised\u2002in\u2002prior\u2002periods\u2002and\u2002are\u2002not\u2002expected\u2002to\u2002materially\u2002affect\u2002the\u2002current\u2002or\u2002future\u2002periods. Certain\u2002new\u2002accounting\u2002standards,\u2002amendments\u2002to\u2002accounting\u2002standards\u2002and\u2002interpretations\u2002have\u2002been\u2002published\u2002that\u2002are\u2002not\u2002mandatory\u2002for\u200231\u2002December\u20022024\u2002reporting\u2002periods\u2002and\u2002have\u2002not\u2002been\u2002early\u2002adopted\u2002by\u2002the\u2002Group.\u2002These\u2002standards,\u2002amendments\u2002or\u2002interpretations\u2002are\u2002not\u2002expected\u2002to\u2002have\u2002a\u2002material\u2002impact\u2002on\u2002the\u2002entity\u2002in\u2002the\u2002current\u2002or\u2002future\u2002reporting\u2002periods\u2002or\u2002on\u2002foreseeable\u2002future\u2002transactions. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFirstTimeAdoptionExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-367": { "value": "New and amended standards adopted by the Group The\u2002accounting\u2002policies\u2002set\u2002out\u2002in\u2002this\u2002note\u2002have\u2002been\u2002applied\u2002consistently\u2002by\u2002the\u2002Group\u2002and\u2002the\u2002Company\u2002to\u2002each\u2002period\u2002presented\u2002in\u2002these\u2002financial\u2002statements,\u2002except\u2002for\u2002the\u2002adoption\u2002of\u2002the\u2002new\u2002accounting\u2002standards\u2002noted\u2002below. The\u2002Group\u2002has\u2002applied\u2002the\u2002following\u2002standards\u2002and\u2002amendments\u2002for\u2002the\u2002first\u2002time\u2002for\u2002its\u2002annual\u2002reporting\u2002period\u2002commencing\u20021\u2002January\u20022024: \u2022 Classification\u2002of\u2002Liabilities\u2002as\u2002Current\u2002or\u2002Non-current\u2002and\u2002Non-current\u2002liabilities\u2002with\u2002covenants\u2002\u2013\u2002Amendments\u2002to\u2002IAS\u20021;\u2002\u2022 Lease\u2002liability\u2002in\u2002a\u2002Sale\u2002and\u2002Leaseback\u2002\u2013\u2002Amendments\u2002to\u2002IFRS\u200216;\u2002and\u2002\u2022 Supplier\u2002Finance\u2002Arrangements\u2002\u2013\u2002Amendments\u2002to\u2002IAS\u20027\u2002and\u2002IFRS\u20027.\u2002The\u2002amendments\u2002listed\u2002above\u2002did\u2002not\u2002have\u2002any\u2002impact\u2002on\u2002the\u2002amounts\u2002recognised\u2002in\u2002prior\u2002periods\u2002and\u2002are\u2002not\u2002expected\u2002to\u2002materially\u2002affect\u2002the\u2002current\u2002or\u2002future\u2002periods. ", "dimensions": { "concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-325": { "value": "New and amended standards adopted by the Group The\u2002accounting\u2002policies\u2002set\u2002out\u2002in\u2002this\u2002note\u2002have\u2002been\u2002applied\u2002consistently\u2002by\u2002the\u2002Group\u2002and\u2002the\u2002Company\u2002to\u2002each\u2002period\u2002presented\u2002in\u2002these\u2002financial\u2002statements,\u2002except\u2002for\u2002the\u2002adoption\u2002of\u2002the\u2002new\u2002accounting\u2002standards\u2002noted\u2002below. The\u2002Group\u2002has\u2002applied\u2002the\u2002following\u2002standards\u2002and\u2002amendments\u2002for\u2002the\u2002first\u2002time\u2002for\u2002its\u2002annual\u2002reporting\u2002period\u2002commencing\u20021\u2002January\u20022024: \u2022 Classification\u2002of\u2002Liabilities\u2002as\u2002Current\u2002or\u2002Non-current\u2002and\u2002Non-current\u2002liabilities\u2002with\u2002covenants\u2002\u2013\u2002Amendments\u2002to\u2002IAS\u20021;\u2002\u2022 Lease\u2002liability\u2002in\u2002a\u2002Sale\u2002and\u2002Leaseback\u2002\u2013\u2002Amendments\u2002to\u2002IFRS\u200216;\u2002and\u2002\u2022 Supplier\u2002Finance\u2002Arrangements\u2002\u2013\u2002Amendments\u2002to\u2002IAS\u20027\u2002and\u2002IFRS\u20027.\u2002The\u2002amendments\u2002listed\u2002above\u2002did\u2002not\u2002have\u2002any\u2002impact\u2002on\u2002the\u2002amounts\u2002recognised\u2002in\u2002prior\u2002periods\u2002and\u2002are\u2002not\u2002expected\u2002to\u2002materially\u2002affect\u2002the\u2002current\u2002or\u2002future\u2002periods. Certain\u2002new\u2002accounting\u2002standards,\u2002amendments\u2002to\u2002accounting\u2002standards\u2002and\u2002interpretations\u2002have\u2002been\u2002published\u2002that\u2002are\u2002not\u2002mandatory\u2002for\u200231\u2002December\u20022024\u2002reporting\u2002periods\u2002and\u2002have\u2002not\u2002been\u2002early\u2002adopted\u2002by\u2002the\u2002Group.\u2002These\u2002standards,\u2002amendments\u2002or\u2002interpretations\u2002are\u2002not\u2002expected\u2002to\u2002have\u2002a\u2002material\u2002impact\u2002on\u2002the\u2002entity\u2002in\u2002the\u2002current\u2002or\u2002future\u2002reporting\u2002periods\u2002or\u2002on\u2002foreseeable\u2002future\u2002transactions. ", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-368": { "value": "Certain\u2002new\u2002accounting\u2002standards,\u2002amendments\u2002to\u2002accounting\u2002standards\u2002and\u2002interpretations\u2002have\u2002been\u2002published\u2002that\u2002are\u2002not\u2002mandatory\u2002for\u200231\u2002December\u20022024\u2002reporting\u2002periods\u2002and\u2002have\u2002not\u2002been\u2002early\u2002adopted\u2002by\u2002the\u2002Group.\u2002These\u2002standards,\u2002amendments\u2002or\u2002interpretations\u2002are\u2002not\u2002expected\u2002to\u2002have\u2002a\u2002material\u2002impact\u2002on\u2002the\u2002entity\u2002in\u2002the\u2002current\u2002or\u2002future\u2002reporting\u2002periods\u2002or\u2002on\u2002foreseeable\u2002future\u2002transactions. ", "dimensions": { "concept": "ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-326": { "value": "Basis of consolidation (a)\u2002\u2002 \u2002The\u2002Group\u2019s\u2002financial\u2002statements\u2002include\u2002the\u2002financial\u2002statements\u2002of\u2002the\u2002Company\u2002and\u2002its\u2002subsidiaries.\u2002Subsidiaries\u2002are\u2002entities\u2002controlled\u2002by\u2002the\u2002Group\u2002and\u2002control\u2002exists\u2002when\u2002the\u2002Group\u2002is\u2002exposed\u2002to,\u2002or\u2002has\u2002the\u2002rights\u2002to,\u2002variable\u2002returns\u2002from\u2002its\u2002involvement\u2002with\u2002the\u2002entity\u2002and\u2002has\u2002the\u2002ability\u2002to\u2002affect\u2002those\u2002returns\u2002through\u2002its\u2002power\u2002over\u2002the\u2002entity.\u2002The\u2002financial\u2002statements\u2002of\u2002subsidiaries\u2002are\u2002included\u2002in\u2002the\u2002consolidated\u2002financial\u2002statements\u2002from\u2002the\u2002date\u2002that\u2002control\u2002starts\u2002until\u2002the\u2002date\u2002that\u2002control\u2002ceases. (b)\u2002 \u2002Associates\u2002are\u2002operations\u2002over\u2002which\u2002power\u2002exists\u2002to\u2002exercise\u2002significant\u2002influence\u2002but\u2002not\u2002control,\u2002generally\u2002accompanied\u2002by\u2002a\u2002share\u2002of\u2002between\u200220%\u2002and\u200250%\u2002of\u2002the\u2002voting\u2002rights.\u2002Associates\u2002are\u2002accounted\u2002for\u2002using\u2002the\u2002equity\u2002method. (c)\u2002 \u2002Joint\u2002ventures\u2002are\u2002those\u2002joint\u2002arrangements\u2002where\u2002control\u2002of\u2002a\u2002legal\u2002entity\u2002is\u2002shared\u2002with\u2002another\u2002entity,\u2002and\u2002where\u2002the\u2002Group\u2002has\u2002rights\u2002to\u2002the\u2002net\u2002assets\u2002of\u2002the\u2002arrangement.\u2002Joint\u2002ventures\u2002are\u2002accounted\u2002for\u2002using\u2002the\u2002equity\u2002method\u2002from\u2002the\u2002date\u2002that\u2002the\u2002joint\u2002venture\u2002starts\u2002until\u2002the\u2002date\u2002that\u2002joint\u2002control\u2002of\u2002the\u2002entity\u2002ceases. (d)\u2002 \u2002The\u2002presentation\u2002of\u2002investments\u2002in\u2002associates\u2002and\u2002joint\u2002ventures\u2002in\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002restricts\u2002the\u2002minimum\u2002carrying\u2002value\u2002to\u2002\u00a3nil.\u2002Where\u2002the\u2002cost\u2002of\u2002investment\u2002would\u2002be\u2002negative,\u2002due\u2002to\u2002losses\u2002incurred,\u2002then\u2002an\u2002amount\u2002up\u2002to\u2002the\u2002value\u2002of\u2002the\u2002negative\u2002position\u2002is\u2002applied\u2002to\u2002any\u2002outstanding\u2002loan\u2002balance\u2002with\u2002the\u2002investment\u2002or,\u2002where\u2002future\u2002funding\u2002commitments\u2002exist,\u2002a\u2002provision\u2002is\u2002made\u2002up\u2002to\u2002the\u2002value\u2002of\u2002the\u2002commitment. (e)\u2002 \u2002Joint\u2002operations\u2002are\u2002those\u2002joint\u2002arrangements\u2002over\u2002which\u2002joint\u2002control\u2002exists,\u2002established\u2002by\u2002contractual\u2002agreement,\u2002which\u2002are\u2002not\u2002legal\u2002entities\u2002and\u2002where\u2002the\u2002parties\u2002have\u2002rights\u2002to\u2002the\u2002assets\u2002and\u2002obligations\u2002for\u2002the\u2002liabilities\u2002relating\u2002to\u2002the\u2002arrangement.\u2002Where\u2002a\u2002joint\u2002operation\u2002exists,\u2002the\u2002Group\u2002entity\u2002involved\u2002records\u2002the\u2002assets\u2002it\u2002controls,\u2002the\u2002liabilities\u2002and\u2002expenses\u2002it\u2002incurs\u2002and\u2002its\u2002share\u2002of\u2002income.\u2002Such\u2002joint\u2002operations\u2002are\u2002reported\u2002in\u2002the\u2002consolidated\u2002financial\u2002statements\u2002on\u2002the\u2002same\u2002basis.\u2002Transactions\u2002between\u2002Group\u2002companies\u2002and\u2002joint\u2002operations\u2002eliminate\u2002on\u2002consolidation. (f)\u2002 \u2002Intra-Group\u2002balances\u2002and\u2002transactions\u2002together\u2002with\u2002any\u2002unrealised\u2002gains\u2002arising\u2002from\u2002intra-Group\u2002transactions\u2002are\u2002eliminated\u2002in\u2002preparing\u2002the\u2002consolidated\u2002financial\u2002statements.\u2002Unrealised\u2002gains\u2002arising\u2002from\u2002transactions\u2002with\u2002associates,\u2002joint\u2002ventures\u2002and\u2002joint\u2002operations\u2002are\u2002eliminated\u2002to\u2002the\u2002extent\u2002of\u2002the\u2002interest\u2002in\u2002the\u2002entity\u2002or\u2002operation.\u2002Unrealised\u2002losses\u2002are\u2002eliminated\u2002in\u2002the\u2002same\u2002way\u2002as\u2002unrealised\u2002gains,\u2002but\u2002only\u2002to\u2002the\u2002extent\u2002that\u2002there\u2002is\u2002no\u2002evidence\u2002of\u2002impairment. ", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-369": { "value": "(a)\u2002\u2002 \u2002The\u2002Group\u2019s\u2002financial\u2002statements\u2002include\u2002the\u2002financial\u2002statements\u2002of\u2002the\u2002Company\u2002and\u2002its\u2002subsidiaries.\u2002Subsidiaries\u2002are\u2002entities\u2002controlled\u2002by\u2002the\u2002Group\u2002and\u2002control\u2002exists\u2002when\u2002the\u2002Group\u2002is\u2002exposed\u2002to,\u2002or\u2002has\u2002the\u2002rights\u2002to,\u2002variable\u2002returns\u2002from\u2002its\u2002involvement\u2002with\u2002the\u2002entity\u2002and\u2002has\u2002the\u2002ability\u2002to\u2002affect\u2002those\u2002returns\u2002through\u2002its\u2002power\u2002over\u2002the\u2002entity.\u2002The\u2002financial\u2002statements\u2002of\u2002subsidiaries\u2002are\u2002included\u2002in\u2002the\u2002consolidated\u2002financial\u2002statements\u2002from\u2002the\u2002date\u2002that\u2002control\u2002starts\u2002until\u2002the\u2002date\u2002that\u2002control\u2002ceases. Investments \u2013 Company Company\u2002investments\u2002in\u2002subsidiaries\u2002are\u2002carried\u2002at\u2002cost\u2002less\u2002provisions\u2002for\u2002impairment. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-400": { "value": "(b)\u2002 \u2002Associates\u2002are\u2002operations\u2002over\u2002which\u2002power\u2002exists\u2002to\u2002exercise\u2002significant\u2002influence\u2002but\u2002not\u2002control,\u2002generally\u2002accompanied\u2002by\u2002a\u2002share\u2002of\u2002between\u200220%\u2002and\u200250%\u2002of\u2002the\u2002voting\u2002rights.\u2002Associates\u2002are\u2002accounted\u2002for\u2002using\u2002the\u2002equity\u2002method. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-370": { "value": "(b)\u2002 \u2002Associates\u2002are\u2002operations\u2002over\u2002which\u2002power\u2002exists\u2002to\u2002exercise\u2002significant\u2002influence\u2002but\u2002not\u2002control,\u2002generally\u2002accompanied\u2002by\u2002a\u2002share\u2002of\u2002between\u200220%\u2002and\u200250%\u2002of\u2002the\u2002voting\u2002rights.\u2002Associates\u2002are\u2002accounted\u2002for\u2002using\u2002the\u2002equity\u2002method. (c)\u2002 \u2002Joint\u2002ventures\u2002are\u2002those\u2002joint\u2002arrangements\u2002where\u2002control\u2002of\u2002a\u2002legal\u2002entity\u2002is\u2002shared\u2002with\u2002another\u2002entity,\u2002and\u2002where\u2002the\u2002Group\u2002has\u2002rights\u2002to\u2002the\u2002net\u2002assets\u2002of\u2002the\u2002arrangement.\u2002Joint\u2002ventures\u2002are\u2002accounted\u2002for\u2002using\u2002the\u2002equity\u2002method\u2002from\u2002the\u2002date\u2002that\u2002the\u2002joint\u2002venture\u2002starts\u2002until\u2002the\u2002date\u2002that\u2002joint\u2002control\u2002of\u2002the\u2002entity\u2002ceases. (d)\u2002 \u2002The\u2002presentation\u2002of\u2002investments\u2002in\u2002associates\u2002and\u2002joint\u2002ventures\u2002in\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002restricts\u2002the\u2002minimum\u2002carrying\u2002value\u2002to\u2002\u00a3nil.\u2002Where\u2002the\u2002cost\u2002of\u2002investment\u2002would\u2002be\u2002negative,\u2002due\u2002to\u2002losses\u2002incurred,\u2002then\u2002an\u2002amount\u2002up\u2002to\u2002the\u2002value\u2002of\u2002the\u2002negative\u2002position\u2002is\u2002applied\u2002to\u2002any\u2002outstanding\u2002loan\u2002balance\u2002with\u2002the\u2002investment\u2002or,\u2002where\u2002future\u2002funding\u2002commitments\u2002exist,\u2002a\u2002provision\u2002is\u2002made\u2002up\u2002to\u2002the\u2002value\u2002of\u2002the\u2002commitment. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-426": { "value": "(c)\u2002 \u2002Joint\u2002ventures\u2002are\u2002those\u2002joint\u2002arrangements\u2002where\u2002control\u2002of\u2002a\u2002legal\u2002entity\u2002is\u2002shared\u2002with\u2002another\u2002entity,\u2002and\u2002where\u2002the\u2002Group\u2002has\u2002rights\u2002to\u2002the\u2002net\u2002assets\u2002of\u2002the\u2002arrangement.\u2002Joint\u2002ventures\u2002are\u2002accounted\u2002for\u2002using\u2002the\u2002equity\u2002method\u2002from\u2002the\u2002date\u2002that\u2002the\u2002joint\u2002venture\u2002starts\u2002until\u2002the\u2002date\u2002that\u2002joint\u2002control\u2002of\u2002the\u2002entity\u2002ceases. (d)\u2002 \u2002The\u2002presentation\u2002of\u2002investments\u2002in\u2002associates\u2002and\u2002joint\u2002ventures\u2002in\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002restricts\u2002the\u2002minimum\u2002carrying\u2002value\u2002to\u2002\u00a3nil.\u2002Where\u2002the\u2002cost\u2002of\u2002investment\u2002would\u2002be\u2002negative,\u2002due\u2002to\u2002losses\u2002incurred,\u2002then\u2002an\u2002amount\u2002up\u2002to\u2002the\u2002value\u2002of\u2002the\u2002negative\u2002position\u2002is\u2002applied\u2002to\u2002any\u2002outstanding\u2002loan\u2002balance\u2002with\u2002the\u2002investment\u2002or,\u2002where\u2002future\u2002funding\u2002commitments\u2002exist,\u2002a\u2002provision\u2002is\u2002made\u2002up\u2002to\u2002the\u2002value\u2002of\u2002the\u2002commitment. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsInJointVentures", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-327": { "value": "Currency translation Transactions\u2002in\u2002foreign\u2002currencies\u2002are\u2002translated\u2002at\u2002the\u2002exchange\u2002rate\u2002ruling\u2002at\u2002the\u2002date\u2002of\u2002the\u2002transaction.\u2002Monetary\u2002assets\u2002and\u2002liabilities\u2002denominated\u2002in\u2002foreign\u2002currencies\u2002are\u2002translated\u2002to\u2002pounds\u2002sterling\u2002at\u2002the\u2002exchange\u2002rate\u2002ruling\u2002at\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002date.\u2002Foreign\u2002exchange\u2002differences\u2002arising\u2002on\u2002translation\u2002are\u2002recognised\u2002in\u2002the\u2002income\u2002statement. The\u2002assets\u2002and\u2002liabilities\u2002of\u2002the\u2002residual\u2002foreign\u2002entities\u2002are\u2002translated\u2002to\u2002pounds\u2002sterling\u2002at\u2002exchange\u2002rates\u2002ruling\u2002at\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002date.\u2002Income\u2002and\u2002expenses\u2002of\u2002foreign\u2002entities\u2002are\u2002translated\u2002to\u2002pounds\u2002sterling\u2002at\u2002rates\u2002approximating\u2002to\u2002the\u2002exchange\u2002rates\u2002ruling\u2002at\u2002the\u2002dates\u2002of\u2002these\u2002transactions. Exchange\u2002differences\u2002arising\u2002from\u2002the\u2002translation\u2002of\u2002the\u2002net\u2002investment\u2002in\u2002the\u2002remaining\u2002foreign\u2002entities\u2002are\u2002recognised\u2002directly\u2002in\u2002equity.\u2002Those\u2002exchange\u2002differences\u2002that\u2002have\u2002arisen\u2002since\u20021\u2002January\u20022004,\u2002the\u2002date\u2002of\u2002transition\u2002to\u2002IFRS,\u2002are\u2002presented\u2002as\u2002a\u2002separate\u2002component\u2002of\u2002equity.\u2002Cumulative\u2002exchange\u2002differences\u2002are\u2002released\u2002into\u2002the\u2002income\u2002statement\u2002upon\u2002disposal.\u2002Translation\u2002differences\u2002that\u2002arose\u2002before\u2002the\u2002date\u2002of\u2002transition\u2002to\u2002IFRS\u2002in\u2002respect\u2002of\u2002all\u2002foreign\u2002operations\u2002are\u2002not\u2002presented\u2002as\u2002a\u2002separate\u2002component. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-371": { "value": "Revenue from contracts with customers The\u2002principal\u2002source\u2002of\u2002revenue\u2002relates\u2002to\u2002developing\u2002and\u2002improving\u2002the\u2002UK\u2019s\u2002infrastructure\u2002across\u2002the\u2002transportation,\u2002water,\u2002energy\u2002and\u2002defence\u2002sectors.\u2002The\u2002Group\u2002recognises\u2002revenue\u2002when\u2002control\u2002over\u2002the\u2002service\u2002or\u2002product\u2002is\u2002transferred\u2002to\u2002the\u2002customer\u2002and\u2002revenue\u2002is\u2002measured\u2002at\u2002the\u2002fair\u2002value\u2002of\u2002the\u2002consideration\u2002received\u2002or\u2002receivable,\u2002net\u2002of\u2002value\u2002added\u2002tax.\u2002Long-term\u2002contracts\u2002are\u2002structured\u2002under\u2002either\u2002a\u2002cost\u2002reimbursement,\u2002target\u2002cost,\u2002fixed\u2002price\u2002or\u2002rate\u2002card\u2002mechanism.\u2002The\u2002Group\u2002also\u2002enters\u2002into\u2002framework\u2002contracts;\u2002however,\u2002the\u2002work\u2002called\u2002off\u2002under\u2002these\u2002contracts\u2002will\u2002be\u2002structured\u2002under\u2002one\u2002of\u2002the\u2002above\u2002mechanisms. For\u2002most\u2002contracts,\u2002there\u2002is\u2002generally\u2002one\u2002performance\u2002obligation\u2002as\u2002the\u2002works\u2002specified\u2002within\u2002the\u2002contract\u2002are\u2002integrated\u2002and\u2002the\u2002customer\u2002procures\u2002one\u2002complete\u2002package,\u2002which\u2002may\u2002incorporate\u2002design,\u2002engineering\u2002and\u2002advisory\u2002work\u2002into\u2002the\u2002scope. Where\u2002multiple\u2002performance\u2002obligations\u2002exist,\u2002for\u2002example,\u2002under\u2002a\u2002framework\u2002with\u2002several\u2002call\u2002off\u2002contracts,\u2002the\u2002Group\u2002accounts\u2002for\u2002each\u2002performance\u2002obligation\u2002separately\u2002and\u2002the\u2002transaction\u2002price\u2002is\u2002determined\u2002separately\u2002for\u2002each\u2002performance\u2002obligation.\u2002Each\u2002call\u2002off\u2002agreement\u2002typically\u2002represents\u2002a\u2002separate\u2002performance\u2002obligation;\u2002however,\u2002call\u2002off\u2002contracts\u2002are\u2002combined\u2002where\u2002appropriate.\u2002For\u2002long-term\u2002contracts,\u2002revenue\u2002is\u2002recognised\u2002over\u2002time\u2002by\u2002measuring\u2002the\u2002progress\u2002towards\u2002complete\u2002satisfaction\u2002of\u2002the\u2002performance\u2002obligation\u2002at\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002date. For\u2002cost\u2002reimbursement,\u2002target\u2002cost\u2002and\u2002fixed\u2002price\u2002contracts,\u2002stage\u2002of\u2002completion\u2002is\u2002assessed\u2002by\u2002reference\u2002to\u2002the\u2002proportion\u2002of\u2002contract\u2002costs\u2002incurred\u2002on\u2002work\u2002performed\u2002to\u2002date\u2002relative\u2002to\u2002the\u2002estimated\u2002total\u2002costs. Rate\u2002card\u2002contracts\u2002may\u2002include\u2002management,\u2002design,\u2002implementation\u2002and\u2002support\u2002services\u2002under\u2002fixed-price\u2002and\u2002variable-price\u2002contracts,\u2002where\u2002the\u2002customer\u2002receives\u2002and\u2002uses\u2002the\u2002benefits\u2002simultaneously.\u2002Revenue\u2002recognised\u2002is\u2002determined\u2002by\u2002the\u2002number\u2002of\u2002hours\u2002incurred\u2002on\u2002a\u2002project\u2002multiplied\u2002by\u2002an\u2002agreed\u2002rate;\u2002where\u2002the\u2002price\u2002is\u2002fixed\u2002or\u2002capped,\u2002revenue\u2002is\u2002recognised\u2002by\u2002reference\u2002to\u2002the\u2002proportion\u2002of\u2002labour\u2002hours\u2002worked\u2002to\u2002date\u2002relative\u2002to\u2002the\u2002estimated\u2002total\u2002number\u2002of\u2002labour\u2002hours. Each\u2002performance\u2002obligation\u2002under\u2002a\u2002framework\u2002contract\u2002may\u2002be\u2002priced\u2002using\u2002a\u2002cost\u2002reimbursement,\u2002target\u2002cost\u2002or\u2002rate\u2002card\u2002model\u2002and\u2002therefore\u2002the\u2002stage\u2002of\u2002completion\u2002is\u2002assessed\u2002by\u2002reference\u2002to\u2002these\u2002individual\u2002models. Contract\u2002costs\u2002are\u2002recognised\u2002as\u2002expenses\u2002in\u2002the\u2002period\u2002in\u2002which\u2002they\u2002are\u2002incurred.\u2002Costs\u2002associated\u2002with\u2002bidding\u2002for\u2002contracts\u2002are\u2002written\u2002off\u2002as\u2002incurred. The\u2002scope\u2002and/or\u2002price\u2002of\u2002the\u2002works\u2002will\u2002often\u2002be\u2002subject\u2002to\u2002change,\u2002which\u2002may\u2002take\u2002the\u2002form\u2002of\u2002a\u2002variation\u2002or\u2002compensation\u2002event. A\u2002compensation\u2002event\u2002is\u2002within\u2002the\u2002scope\u2002of\u2002existing\u2002enforceable\u2002rights\u2002and\u2002obligations.\u2002When\u2002a\u2002variation,\u2002which\u2002either\u2002creates\u2002new,\u2002or\u2002changes\u2002existing,\u2002enforceable\u2002rights\u2002and\u2002obligations,\u2002is\u2002approved,\u2002a\u2002contract\u2002modification\u2002exists.\u2002The\u2002revenue\u2002recognition\u2002consequences\u2002of\u2002a\u2002contract\u2002modification\u2002are\u2002recognised\u2002in\u2002one\u2002of\u2002the\u2002following\u2002ways:\u2002(a)\u2002 \u2002prospectively\u2002as\u2002a\u2002separate\u2002contract\u2002(when\u2002new\u2002distinct\u2002goods\u2002or\u2002services\u2002are\u2002provided\u2002at\u2002an\u2002amount\u2002reflective\u2002of\u2002their\u2002standalone\u2002selling\u2002price); (b)\u2002 \u2002prospectively\u2002as\u2002a\u2002termination\u2002of\u2002the\u2002existing\u2002contract\u2002and\u2002creation\u2002of\u2002a\u2002new\u2002contract\u2002(where\u2002the\u2002remaining\u2002goods\u2002or\u2002services\u2002under\u2002the\u2002original\u2002contract\u2002were\u2002distinct\u2002from\u2002those\u2002already\u2002transferred\u2002to\u2002the\u2002customer);\u2002or (c)\u2002 \u2002using\u2002a\u2002cumulative\u2002catch\u2002up\u2002as\u2002if\u2002the\u2002modification\u2002were\u2002part\u2002of\u2002the\u2002existing\u2002contract\u2002(where\u2002the\u2002existing\u2002contract\u2019s\u2002performance\u2002obligation\u2002was\u2002partially\u2002satisfied). Compensation\u2002events,\u2002claims,\u2002and\u2002gain\u2002from\u2002pain/gain\u2002or\u2002other\u2002bonus\u2002assessments\u2002are\u2002included\u2002in\u2002revenue\u2002where\u2002it\u2002is\u2002highly\u2002probable\u2002that\u2002a\u2002significant\u2002reversal\u2002of\u2002the\u2002amount\u2002of\u2002cumulative\u2002revenue\u2002recognised,\u2002which\u2002can\u2002be\u2002measured\u2002reliably,\u2002will\u2002not\u2002occur\u2002when\u2002the\u2002associated\u2002uncertainty\u2002is\u2002subsequently\u2002resolved.\u2002Pain\u2002from\u2002pain/gain\u2002arrangements\u2002or\u2002disallowed\u2002or\u2002withheld\u2002costs\u2002are\u2002included\u2002where\u2002probable\u2002to\u2002be\u2002incurred.\u2002Variable\u2002revenue\u2002is\u2002typically\u2002determined\u2002using\u2002the\u2002expected\u2002value\u2002method. Where\u2002there\u2002is\u2002a\u2002change\u2002in\u2002circumstances\u2002that\u2002requires\u2002related\u2002revenue\u2002estimates\u2002to\u2002be\u2002revised,\u2002any\u2002reversal\u2002of\u2002revenue\u2002arising\u2002from\u2002a\u2002change\u2002that\u2002occurs\u2002in\u2002the\u2002current\u2002year\u2002but\u2002affects\u2002the\u2002previously\u2002recognised\u2002position\u2002is\u2002recognised\u2002within\u2002revenue\u2002for\u2002the\u2002current\u2002year. In\u2002the\u2002early\u2002stages\u2002of\u2002a\u2002contract,\u2002if\u2002the\u2002outcome\u2002of\u2002a\u2002performance\u2002obligation\u2002cannot\u2002be\u2002reasonably\u2002measured,\u2002revenue\u2002is\u2002recognised\u2002to\u2002the\u2002extent\u2002of\u2002contract\u2002costs\u2002incurred,\u2002provided\u2002Costain\u2002expects\u2002to\u2002recover\u2002the\u2002costs.\u2002When\u2002it\u2002is\u2002probable\u2002that\u2002total\u2002contract\u2002costs\u2002will\u2002exceed\u2002total\u2002revenue,\u2002giving\u2002rise\u2002to\u2002an\u2002onerous\u2002contract,\u2002the\u2002unavoidable\u2002cost\u2002is\u2002recognised\u2002as\u2002an\u2002expense\u2002in\u2002cost\u2002of\u2002sales\u2002immediately. Contract\u2002assets\u2002are\u2002stated\u2002as\u2002revenue\u2002earned\u2002from\u2002customers\u2002but\u2002not\u2002yet\u2002certified\u2002and/or\u2002invoiced,\u2002such\u2002that\u2002the\u2002right\u2002to\u2002receive\u2002the\u2002consideration\u2002is\u2002conditioned\u2002on\u2002something\u2002other\u2002than\u2002the\u2002passage\u2002of\u2002time.\u2002Amounts\u2002invoiced\u2002and/or\u2002certified,\u2002creating\u2002an\u2002unconditional\u2002right\u2002to\u2002consideration,\u2002are\u2002included\u2002in\u2002trade\u2002receivables.\u2002Where\u2002cash\u2002received\u2002from\u2002or\u2002amounts\u2002invoiced\u2002to\u2002customers\u2002exceeds\u2002the\u2002value\u2002of\u2002work\u2002performed,\u2002the\u2002amount\u2002is\u2002included\u2002in\u2002contract\u2002liabilities.
Other
Adjusted items Total
2024 \u00a3m \u00a3m \u00a3m
Revenue
1,251.1
\u2013
1,251.1
Cost\u2002of\u2002sales
(1,147.8)
\u2013
(1,147.8)
Gross\u2002profit
103.3
\u2013
103.3
Administrative\u2002expenses\u2002before\u2002adjusting\u2002items
(60.2)
\u2013
(60.2)
Adjusting\u2002items:
Restructuring\u2002credit
\u2013
0.1
0.1
Transformation\u2002costs
\u2013
(5.4)
(5.4)
Fire\u2002safety\u2002claims
\u2013
(6.7)
(6.7)
Administrative\u2002expenses
(60.2)
(12.0)
(72.2)
Operating\u2002profit/(loss)
43.1
(12.0)
31.1
Net\u2002finance\u2002income
5.4
\u2013
5.4
Profit/(loss)\u2002before\u2002tax
48.5
(12.0)
36.5
Taxation
(8.9)
3.0
(5.9)
Profit/(loss)\u2002for\u2002the\u2002year\u2002attributable\u2002to\u2002equity\u2002holders\u2002of\u2002the\u2002Parent
39.6
(9.0)
30.6
Basic\u2002earnings\u2002per\u2002share
14.6p
11.3p
Intangible Other
Adjusted impairment items Total
2023 \u00a3m \u00a3m \u00a3m \u00a3m
Revenue
1,332.0
\u2013
\u2013
1,332.0
Cost\u2002of\u2002sales
(1,227.2)
\u2013
\u2013
(1,227.2)
Gross\u2002profit
104.8
\u2013
\u2013
104.8
Administrative\u2002expenses\u2002before\u2002adjusting\u2002items
(64.7)
\u2013
\u2013
(64.7)
Adjusting\u2002items:
Restructuring\u2002costs
\u2013
\u2013
(1.8)
(1.8)
Transformation\u2002costs
\u2013
\u2013
(6.2)
(6.2)
Impairment\u2002of\u2002intangible\u2002asset
\u2013
(5.3)
\u2013
(5.3)
Administrative\u2002expenses
(64.7)
(5.3)
(8.0)
(78.0)
Operating\u2002profit/(loss)
40.1
(5.3)
(8.0)
26.8
Net\u2002finance\u2002income
4.1
\u2013
\u2013
4.1
Profit/(loss)\u2002before\u2002tax
44.2
(5.3)
(8.0)
30.9
Taxation
(10.7)
\u2013
1.9
(8.8)
Profit/(loss)\u2002for\u2002the\u2002year\u2002attributable\u2002to\u2002equity\u2002holders\u2002of\u2002the\u2002Parent
33.5
(5.3)
(6.1)
22.1
Basic\u2002earnings\u2002per\u2002share
12.2p
8.1p
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-328": { "value": "Revenue from contracts with customers The\u2002principal\u2002source\u2002of\u2002revenue\u2002relates\u2002to\u2002developing\u2002and\u2002improving\u2002the\u2002UK\u2019s\u2002infrastructure\u2002across\u2002the\u2002transportation,\u2002water,\u2002energy\u2002and\u2002defence\u2002sectors.\u2002The\u2002Group\u2002recognises\u2002revenue\u2002when\u2002control\u2002over\u2002the\u2002service\u2002or\u2002product\u2002is\u2002transferred\u2002to\u2002the\u2002customer\u2002and\u2002revenue\u2002is\u2002measured\u2002at\u2002the\u2002fair\u2002value\u2002of\u2002the\u2002consideration\u2002received\u2002or\u2002receivable,\u2002net\u2002of\u2002value\u2002added\u2002tax.\u2002Long-term\u2002contracts\u2002are\u2002structured\u2002under\u2002either\u2002a\u2002cost\u2002reimbursement,\u2002target\u2002cost,\u2002fixed\u2002price\u2002or\u2002rate\u2002card\u2002mechanism.\u2002The\u2002Group\u2002also\u2002enters\u2002into\u2002framework\u2002contracts;\u2002however,\u2002the\u2002work\u2002called\u2002off\u2002under\u2002these\u2002contracts\u2002will\u2002be\u2002structured\u2002under\u2002one\u2002of\u2002the\u2002above\u2002mechanisms. For\u2002most\u2002contracts,\u2002there\u2002is\u2002generally\u2002one\u2002performance\u2002obligation\u2002as\u2002the\u2002works\u2002specified\u2002within\u2002the\u2002contract\u2002are\u2002integrated\u2002and\u2002the\u2002customer\u2002procures\u2002one\u2002complete\u2002package,\u2002which\u2002may\u2002incorporate\u2002design,\u2002engineering\u2002and\u2002advisory\u2002work\u2002into\u2002the\u2002scope. Where\u2002multiple\u2002performance\u2002obligations\u2002exist,\u2002for\u2002example,\u2002under\u2002a\u2002framework\u2002with\u2002several\u2002call\u2002off\u2002contracts,\u2002the\u2002Group\u2002accounts\u2002for\u2002each\u2002performance\u2002obligation\u2002separately\u2002and\u2002the\u2002transaction\u2002price\u2002is\u2002determined\u2002separately\u2002for\u2002each\u2002performance\u2002obligation.\u2002Each\u2002call\u2002off\u2002agreement\u2002typically\u2002represents\u2002a\u2002separate\u2002performance\u2002obligation;\u2002however,\u2002call\u2002off\u2002contracts\u2002are\u2002combined\u2002where\u2002appropriate.\u2002For\u2002long-term\u2002contracts,\u2002revenue\u2002is\u2002recognised\u2002over\u2002time\u2002by\u2002measuring\u2002the\u2002progress\u2002towards\u2002complete\u2002satisfaction\u2002of\u2002the\u2002performance\u2002obligation\u2002at\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002date. For\u2002cost\u2002reimbursement,\u2002target\u2002cost\u2002and\u2002fixed\u2002price\u2002contracts,\u2002stage\u2002of\u2002completion\u2002is\u2002assessed\u2002by\u2002reference\u2002to\u2002the\u2002proportion\u2002of\u2002contract\u2002costs\u2002incurred\u2002on\u2002work\u2002performed\u2002to\u2002date\u2002relative\u2002to\u2002the\u2002estimated\u2002total\u2002costs. Rate\u2002card\u2002contracts\u2002may\u2002include\u2002management,\u2002design,\u2002implementation\u2002and\u2002support\u2002services\u2002under\u2002fixed-price\u2002and\u2002variable-price\u2002contracts,\u2002where\u2002the\u2002customer\u2002receives\u2002and\u2002uses\u2002the\u2002benefits\u2002simultaneously.\u2002Revenue\u2002recognised\u2002is\u2002determined\u2002by\u2002the\u2002number\u2002of\u2002hours\u2002incurred\u2002on\u2002a\u2002project\u2002multiplied\u2002by\u2002an\u2002agreed\u2002rate;\u2002where\u2002the\u2002price\u2002is\u2002fixed\u2002or\u2002capped,\u2002revenue\u2002is\u2002recognised\u2002by\u2002reference\u2002to\u2002the\u2002proportion\u2002of\u2002labour\u2002hours\u2002worked\u2002to\u2002date\u2002relative\u2002to\u2002the\u2002estimated\u2002total\u2002number\u2002of\u2002labour\u2002hours. Each\u2002performance\u2002obligation\u2002under\u2002a\u2002framework\u2002contract\u2002may\u2002be\u2002priced\u2002using\u2002a\u2002cost\u2002reimbursement,\u2002target\u2002cost\u2002or\u2002rate\u2002card\u2002model\u2002and\u2002therefore\u2002the\u2002stage\u2002of\u2002completion\u2002is\u2002assessed\u2002by\u2002reference\u2002to\u2002these\u2002individual\u2002models. Contract\u2002costs\u2002are\u2002recognised\u2002as\u2002expenses\u2002in\u2002the\u2002period\u2002in\u2002which\u2002they\u2002are\u2002incurred.\u2002Costs\u2002associated\u2002with\u2002bidding\u2002for\u2002contracts\u2002are\u2002written\u2002off\u2002as\u2002incurred. The\u2002scope\u2002and/or\u2002price\u2002of\u2002the\u2002works\u2002will\u2002often\u2002be\u2002subject\u2002to\u2002change,\u2002which\u2002may\u2002take\u2002the\u2002form\u2002of\u2002a\u2002variation\u2002or\u2002compensation\u2002event. A\u2002compensation\u2002event\u2002is\u2002within\u2002the\u2002scope\u2002of\u2002existing\u2002enforceable\u2002rights\u2002and\u2002obligations.\u2002When\u2002a\u2002variation,\u2002which\u2002either\u2002creates\u2002new,\u2002or\u2002changes\u2002existing,\u2002enforceable\u2002rights\u2002and\u2002obligations,\u2002is\u2002approved,\u2002a\u2002contract\u2002modification\u2002exists.\u2002The\u2002revenue\u2002recognition\u2002consequences\u2002of\u2002a\u2002contract\u2002modification\u2002are\u2002recognised\u2002in\u2002one\u2002of\u2002the\u2002following\u2002ways:\u2002(a)\u2002 \u2002prospectively\u2002as\u2002a\u2002separate\u2002contract\u2002(when\u2002new\u2002distinct\u2002goods\u2002or\u2002services\u2002are\u2002provided\u2002at\u2002an\u2002amount\u2002reflective\u2002of\u2002their\u2002standalone\u2002selling\u2002price); (b)\u2002 \u2002prospectively\u2002as\u2002a\u2002termination\u2002of\u2002the\u2002existing\u2002contract\u2002and\u2002creation\u2002of\u2002a\u2002new\u2002contract\u2002(where\u2002the\u2002remaining\u2002goods\u2002or\u2002services\u2002under\u2002the\u2002original\u2002contract\u2002were\u2002distinct\u2002from\u2002those\u2002already\u2002transferred\u2002to\u2002the\u2002customer);\u2002or (c)\u2002 \u2002using\u2002a\u2002cumulative\u2002catch\u2002up\u2002as\u2002if\u2002the\u2002modification\u2002were\u2002part\u2002of\u2002the\u2002existing\u2002contract\u2002(where\u2002the\u2002existing\u2002contract\u2019s\u2002performance\u2002obligation\u2002was\u2002partially\u2002satisfied). Compensation\u2002events,\u2002claims,\u2002and\u2002gain\u2002from\u2002pain/gain\u2002or\u2002other\u2002bonus\u2002assessments\u2002are\u2002included\u2002in\u2002revenue\u2002where\u2002it\u2002is\u2002highly\u2002probable\u2002that\u2002a\u2002significant\u2002reversal\u2002of\u2002the\u2002amount\u2002of\u2002cumulative\u2002revenue\u2002recognised,\u2002which\u2002can\u2002be\u2002measured\u2002reliably,\u2002will\u2002not\u2002occur\u2002when\u2002the\u2002associated\u2002uncertainty\u2002is\u2002subsequently\u2002resolved.\u2002Pain\u2002from\u2002pain/gain\u2002arrangements\u2002or\u2002disallowed\u2002or\u2002withheld\u2002costs\u2002are\u2002included\u2002where\u2002probable\u2002to\u2002be\u2002incurred.\u2002Variable\u2002revenue\u2002is\u2002typically\u2002determined\u2002using\u2002the\u2002expected\u2002value\u2002method. Where\u2002there\u2002is\u2002a\u2002change\u2002in\u2002circumstances\u2002that\u2002requires\u2002related\u2002revenue\u2002estimates\u2002to\u2002be\u2002revised,\u2002any\u2002reversal\u2002of\u2002revenue\u2002arising\u2002from\u2002a\u2002change\u2002that\u2002occurs\u2002in\u2002the\u2002current\u2002year\u2002but\u2002affects\u2002the\u2002previously\u2002recognised\u2002position\u2002is\u2002recognised\u2002within\u2002revenue\u2002for\u2002the\u2002current\u2002year. In\u2002the\u2002early\u2002stages\u2002of\u2002a\u2002contract,\u2002if\u2002the\u2002outcome\u2002of\u2002a\u2002performance\u2002obligation\u2002cannot\u2002be\u2002reasonably\u2002measured,\u2002revenue\u2002is\u2002recognised\u2002to\u2002the\u2002extent\u2002of\u2002contract\u2002costs\u2002incurred,\u2002provided\u2002Costain\u2002expects\u2002to\u2002recover\u2002the\u2002costs.\u2002When\u2002it\u2002is\u2002probable\u2002that\u2002total\u2002contract\u2002costs\u2002will\u2002exceed\u2002total\u2002revenue,\u2002giving\u2002rise\u2002to\u2002an\u2002onerous\u2002contract,\u2002the\u2002unavoidable\u2002cost\u2002is\u2002recognised\u2002as\u2002an\u2002expense\u2002in\u2002cost\u2002of\u2002sales\u2002immediately. Contract\u2002assets\u2002are\u2002stated\u2002as\u2002revenue\u2002earned\u2002from\u2002customers\u2002but\u2002not\u2002yet\u2002certified\u2002and/or\u2002invoiced,\u2002such\u2002that\u2002the\u2002right\u2002to\u2002receive\u2002the\u2002consideration\u2002is\u2002conditioned\u2002on\u2002something\u2002other\u2002than\u2002the\u2002passage\u2002of\u2002time.\u2002Amounts\u2002invoiced\u2002and/or\u2002certified,\u2002creating\u2002an\u2002unconditional\u2002right\u2002to\u2002consideration,\u2002are\u2002included\u2002in\u2002trade\u2002receivables.\u2002Where\u2002cash\u2002received\u2002from\u2002or\u2002amounts\u2002invoiced\u2002to\u2002customers\u2002exceeds\u2002the\u2002value\u2002of\u2002work\u2002performed,\u2002the\u2002amount\u2002is\u2002included\u2002in\u2002contract\u2002liabilities. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-329": { "value": "Income statement presentation \u2013 Alternative performance measures The\u2002Group\u2002discloses\u2002alternative\u2002performance\u2002measures,\u2002in\u2002addition\u2002to\u2002statutory\u2002disclosures,\u2002to\u2002provide\u2002investors\u2002with\u2002supplementary\u2002information\u2002which\u2002may\u2002be\u2002relevant\u2002to\u2002the\u2002Group\u2019s\u2002future\u2002performance.\u2002\u2018Adjusted\u2002profit\u2019\u2002excludes\u2002\u2018adjusting\u2002items\u2019,\u2002which\u2002are\u2002significant\u2002items\u2002of\u2002income\u2002and\u2002expenditure\u2002that\u2002the\u2002Board\u2002considers\u2002are\u2002incremental\u2002to\u2002business\u2002operations\u2002and\u2002do\u2002not\u2002reflect\u2002the\u2002long-term\u2002performance\u2002of\u2002the\u2002Group.\u2002These\u2002adjusted\u2002measures\u2002are\u2002reconciled\u2002to\u2002statutory\u2002disclosures,\u2002with\u2002the\u2002tax\u2002impact\u2002given,\u2002in\u2002note\u20023,\u2002and\u2002disclosed\u2002in\u2002the\u2002segmental\u2002reporting\u2002in\u2002note\u20024.\u2002Presenting\u2002results\u2002on\u2002this\u2002basis\u2002is\u2002consistent\u2002with\u2002internal\u2002reporting\u2002to\u2002the\u2002Board.\u2002Alternative\u2002performance\u2002measures\u2002do\u2002not\u2002have\u2002standardised\u2002meanings\u2002and,\u2002therefore,\u2002they\u2002may\u2002not\u2002be\u2002comparable\u2002between\u2002companies. The\u2002directors\u2002exercise\u2002judgement\u2002in\u2002determining\u2002classification\u2002as\u2002an\u2002\u2018adjusting\u2002item\u2019\u2002using\u2002quantitative\u2002and\u2002qualitative\u2002factors.\u2002Consideration\u2002is\u2002given,\u2002both\u2002individually\u2002and\u2002collectively,\u2002to\u2002the\u2002circumstances\u2002giving\u2002rise\u2002to\u2002the\u2002item,\u2002its\u2002materiality\u2002and\u2002whether\u2002it\u2002is\u2002expected\u2002to\u2002recur. \u2018Adjusted\u2002profit\u2019\u2002may\u2002exclude\u2002income\u2002and\u2002expenditure\u2002related\u2002to\u2002acquisitions,\u2002discontinued\u2002operations,\u2002transformation\u2002costs,\u2002restructuring\u2002costs,\u2002claims\u2002and\u2002litigation,\u2002and\u2002impairments,\u2002where\u2002the\u2002impairment\u2002is\u2002the\u2002result\u2002of\u2002an\u2002isolated,\u2002non-recurring\u2002event.\u2002\u2018Adjusted\u2002earnings\u2002per\u2002share\u2019\u2002is\u2002calculated\u2002using\u2002\u2018adjusted\u2002profit\u2019. The\u2002Group\u2002also\u2002presents\u2002\u2018net\u2002cash/bank\u2002debt\u2019\u2002and\u2002\u2018adjusted\u2002free\u2002cash\u2002flow\u2019\u2002as\u2002alternative\u2002performance\u2002measures\u2002in\u2002the\u2002front\u2002of\u2002the\u2002annual\u2002report.\u2002\u2018Net\u2002cash/bank\u2002debt\u2019\u2002is\u2002defined\u2002as\u2002cash\u2002and\u2002cash\u2002equivalents\u2002less\u2002interest-bearing\u2002borrowings\u2002(excluding\u2002leases\u2002under\u2002IFRS\u200216\u2002and\u2002net\u2002of\u2002unamortised\u2002arrangement\u2002fees)\u2002and\u2002excluding\u2002\u2018cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions\u2019.\u2002\u2018Adjusted\u2002free\u2002cash\u2002flow\u2019\u2002is\u2002defined\u2002as\u2002cash\u2002generated\u2002from\u2002operations,\u2002excluding\u2002cash\u2002flows\u2002relating\u2002to\u2002\u2018adjusting\u2002items\u2019\u2002and\u2002pension\u2002deficit\u2002contributions,\u2002less\u2002taxation\u2002and\u2002capital\u2002expenditure\u2002and\u2002excluding\u2002cash\u2002flows\u2002related\u2002to\u2002\u2018cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions\u2019.\u2002The\u2002directors\u2002consider\u2002that\u2002these\u2002measures\u2002provide\u2002useful\u2002information\u2002about\u2002the\u2002Group\u2019s\u2002liquidity\u2002position.\u2002", "dimensions": { "concept": "costaingroupplc:DescriptionOfAccountingPolicyForIncomeStatementPresentationAlternativePerformanceMeasures", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-330": { "value": "Research and development Research\u2002and\u2002development\u2002activities\u2002are\u2002usually\u2002directly\u2002attributable\u2002to\u2002a\u2002project\u2002and\u2002accounted\u2002for\u2002within\u2002project\u2002costs.\u2002In\u2002line\u2002with\u2002common\u2002practice,\u2002the\u2002Group\u2002has\u2002adopted\u2002the\u2002research\u2002and\u2002development\u2002expenditure\u2002credit\u2002(RDEC)\u2002regime\u2002as\u2002these\u2002credits\u2002have\u2002characteristics\u2002similar\u2002to\u2002government\u2002grants.\u2002RDEC\u2002credits\u2002are\u2002recognised\u2002in\u2002cost\u2002of\u2002sales.\u2002Development\u2002expenditure\u2002that\u2002satisfies\u2002all\u2002the\u2002relevant\u2002conditions\u2002is\u2002capitalised\u2002as\u2002an\u2002intangible\u2002asset\u2002(see\u2002below). ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-401": { "value": "Goodwill and other intangible assets Goodwill\u2002arising\u2002on\u2002acquisitions\u2002represents\u2002the\u2002excess\u2002of\u2002the\u2002fair\u2002value\u2002of\u2002the\u2002consideration\u2002over\u2002the\u2002identifiable\u2002assets,\u2002liabilities\u2002and\u2002contingent\u2002liabilities\u2002of\u2002the\u2002acquired\u2002entity\u2002and\u2002goodwill\u2002arising\u2002on\u2002the\u2002acquisition\u2002of\u2002subsidiaries\u2002is\u2002included\u2002in\u2002non-current\u2002assets.\u2002The\u2002attributable\u2002costs\u2002of\u2002acquisitions\u2002are\u2002expensed\u2002to\u2002the\u2002income\u2002statement.\u2002Goodwill\u2002is\u2002reviewed\u2002annually\u2002for\u2002impairment\u2002and\u2002is\u2002carried\u2002at\u2002cost\u2002less\u2002accumulated\u2002impairment\u2002losses.\u2002Goodwill\u2002is\u2002included\u2002when\u2002determining\u2002the\u2002profit\u2002or\u2002loss\u2002on\u2002subsequent\u2002disposal\u2002of\u2002the\u2002business\u2002to\u2002which\u2002it\u2002relates. Acquired\u2002intangible\u2002assets\u2002comprise\u2002customer\u2002relationships,\u2002order\u2002book,\u2002brand\u2002and\u2002intellectual\u2002property.\u2002Other\u2002intangible\u2002assets\u2002comprise\u2002computer\u2002software,\u2002development\u2002expenditure\u2002and\u2002patents.\u2002Customer\u2002relationships\u2002and\u2002other\u2002acquired\u2002intangibles\u2002are\u2002measured\u2002at\u2002the\u2002present\u2002value\u2002of\u2002cash\u2002flows\u2002attributable\u2002to\u2002the\u2002relationship\u2002less\u2002an\u2002appropriate\u2002contributory\u2002asset\u2002charge.\u2002Computer\u2002software,\u2002development\u2002expenditure\u2002and\u2002patents\u2002are\u2002recognised\u2002at\u2002cost. Internally\u2002generated\u2002development\u2002expenditure\u2002is\u2002recognised\u2002as\u2002an\u2002intangible\u2002asset\u2002only\u2002if\u2002all\u2002of\u2002the\u2002following\u2002conditions\u2002are\u2002satisfied: \u2022 it\u2002is\u2002intended\u2002for\u2002use\u2002or\u2002sale,\u2002can\u2002be\u2002technically\u2002and\u2002financially\u2002completed\u2002and\u2002is\u2002able\u2002to\u2002be\u2002used\u2002as\u2002intended; \u2022 it\u2002is\u2002probable\u2002that\u2002the\u2002asset\u2002will\u2002create\u2002future\u2002economic\u2002benefits;\u2002and \u2022 the\u2002development\u2002costs\u2002can\u2002be\u2002measured\u2002reliably. Once\u2002the\u2002asset\u2002is\u2002complete,\u2002subsequent\u2002expenditure\u2002is\u2002capitalised\u2002only\u2002when\u2002it\u2002increases\u2002the\u2002future\u2002economic\u2002benefits\u2002embodied\u2002in\u2002the\u2002specific\u2002asset\u2002to\u2002which\u2002it\u2002relates,\u2002otherwise\u2002expenditure\u2002is\u2002expensed\u2002as\u2002incurred. For\u2002Software\u2002as\u2002a\u2002Service\u2002arrangements\u2002(SaaS),\u2002the\u2002Group\u2002applies\u2002guidance\u2002as\u2002set\u2002out\u2002in\u2002the\u20022021\u2002IFRIC\u2002agenda\u2002decision\u2002on\u2002Configuration\u2002and\u2002Customisation\u2002costs\u2002in\u2002a\u2002Cloud\u2002Computing\u2002Arrangement.\u2002Where\u2002the\u2002asset\u2002meets\u2002the\u2002definition\u2002of\u2002an\u2002intangible\u2002asset\u2002under\u2002IAS\u200238,\u2002the\u2002costs\u2002are\u2002capitalised.\u2002Alternatively,\u2002where\u2002the\u2002SaaS\u2002provider\u2002has\u2002carried\u2002out\u2002the\u2002configuration\u2002and\u2002customisation\u2002and\u2002the\u2002services\u2002are\u2002distinct\u2002from\u2002the\u2002SaaS\u2002arrangement,\u2002the\u2002costs\u2002are\u2002prepaid\u2002and\u2002spread\u2002over\u2002the\u2002term\u2002of\u2002the\u2002SaaS\u2002agreement.\u2002Otherwise,\u2002the\u2002costs\u2002are\u2002expensed\u2002as\u2002incurred. Amortisation\u2002begins\u2002when\u2002an\u2002asset\u2002is\u2002acquired\u2002or,\u2002in\u2002the\u2002case\u2002of\u2002computer\u2002software\u2002and\u2002other\u2002development\u2002assets,\u2002is\u2002available\u2002for\u2002use.\u2002Amortisation\u2002charges\u2002are\u2002included\u2002in\u2002administration\u2002expenses\u2002and\u2002are\u2002charged\u2002over\u2002the\u2002following\u2002periods:
Customer\u2002relationships
\u2013\u2002on\u2002a\u2002straight-line\u2002basis\u2002up\u2002to\u2002seven\u2002years
Other\u2002intangibles\u2002(including\u2002other\u2002acquired)
\u2013\u2002on\u2002a\u2002straight-line\u2002basis\u2002up\u2002to\u2002five\u2002years
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-331": { "value": "Goodwill and other intangible assets Goodwill\u2002arising\u2002on\u2002acquisitions\u2002represents\u2002the\u2002excess\u2002of\u2002the\u2002fair\u2002value\u2002of\u2002the\u2002consideration\u2002over\u2002the\u2002identifiable\u2002assets,\u2002liabilities\u2002and\u2002contingent\u2002liabilities\u2002of\u2002the\u2002acquired\u2002entity\u2002and\u2002goodwill\u2002arising\u2002on\u2002the\u2002acquisition\u2002of\u2002subsidiaries\u2002is\u2002included\u2002in\u2002non-current\u2002assets.\u2002The\u2002attributable\u2002costs\u2002of\u2002acquisitions\u2002are\u2002expensed\u2002to\u2002the\u2002income\u2002statement.\u2002Goodwill\u2002is\u2002reviewed\u2002annually\u2002for\u2002impairment\u2002and\u2002is\u2002carried\u2002at\u2002cost\u2002less\u2002accumulated\u2002impairment\u2002losses.\u2002Goodwill\u2002is\u2002included\u2002when\u2002determining\u2002the\u2002profit\u2002or\u2002loss\u2002on\u2002subsequent\u2002disposal\u2002of\u2002the\u2002business\u2002to\u2002which\u2002it\u2002relates. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-335": { "value": "Property, plant and equipment Property,\u2002plant\u2002and\u2002equipment\u2002is\u2002carried\u2002at\u2002cost\u2002less\u2002accumulated\u2002depreciation\u2002and\u2002impairment\u2002losses.\u2002Where\u2002parts\u2002of\u2002an\u2002item\u2002of\u2002property,\u2002plant\u2002and\u2002equipment\u2002have\u2002different\u2002useful\u2002lives,\u2002they\u2002are\u2002accounted\u2002for\u2002as\u2002separate\u2002items.\u2002Cost\u2002comprises\u2002purchase\u2002price\u2002and\u2002directly\u2002attributable\u2002costs.\u2002Depreciation\u2002is\u2002charged\u2002to\u2002administration\u2002expenses.\u2002Freehold\u2002land\u2002is\u2002not\u2002depreciated.\u2002For\u2002all\u2002other\u2002property,\u2002plant\u2002and\u2002equipment,\u2002depreciation\u2002is\u2002calculated\u2002on\u2002a\u2002straight-line\u2002basis\u2002to\u2002allocate\u2002cost\u2002less\u2002residual\u2002values\u2002of\u2002the\u2002assets\u2002over\u2002their\u2002estimated\u2002useful\u2002lives\u2002as\u2002follows:
Leasehold\u2002buildings
\u2013\u2002shorter\u2002of\u200250\u2002years\u2002or\u2002lease\u2002term
Vehicles,\u2002plant\u2002and\u2002equipment
\u2013\u20023\u2002to\u200210\u2002years
Leasehold\u2002improvements
\u2013\u2002lease\u2002term
The\u2002assets\u2019\u2002residual\u2002values\u2002and\u2002useful\u2002lives\u2002are\u2002reviewed\u2002and\u2002adjusted,\u2002if\u2002appropriate,\u2002at\u2002each\u2002statement\u2002of\u2002financial\u2002position\u2002date. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-402": { "value": "Property, plant and equipment Property,\u2002plant\u2002and\u2002equipment\u2002is\u2002carried\u2002at\u2002cost\u2002less\u2002accumulated\u2002depreciation\u2002and\u2002impairment\u2002losses.\u2002Where\u2002parts\u2002of\u2002an\u2002item\u2002of\u2002property,\u2002plant\u2002and\u2002equipment\u2002have\u2002different\u2002useful\u2002lives,\u2002they\u2002are\u2002accounted\u2002for\u2002as\u2002separate\u2002items.\u2002Cost\u2002comprises\u2002purchase\u2002price\u2002and\u2002directly\u2002attributable\u2002costs.\u2002Depreciation\u2002is\u2002charged\u2002to\u2002administration\u2002expenses.\u2002Freehold\u2002land\u2002is\u2002not\u2002depreciated.\u2002For\u2002all\u2002other\u2002property,\u2002plant\u2002and\u2002equipment,\u2002depreciation\u2002is\u2002calculated\u2002on\u2002a\u2002straight-line\u2002basis\u2002to\u2002allocate\u2002cost\u2002less\u2002residual\u2002values\u2002of\u2002the\u2002assets\u2002over\u2002their\u2002estimated\u2002useful\u2002lives\u2002as\u2002follows:
Leasehold\u2002buildings
\u2013\u2002shorter\u2002of\u200250\u2002years\u2002or\u2002lease\u2002term
Vehicles,\u2002plant\u2002and\u2002equipment
\u2013\u20023\u2002to\u200210\u2002years
Leasehold\u2002improvements
\u2013\u2002lease\u2002term
The\u2002assets\u2019\u2002residual\u2002values\u2002and\u2002useful\u2002lives\u2002are\u2002reviewed\u2002and\u2002adjusted,\u2002if\u2002appropriate,\u2002at\u2002each\u2002statement\u2002of\u2002financial\u2002position\u2002date. The\u2002asset\u2002is\u2002subsequently\u2002depreciated\u2002using\u2002the\u2002straight-line\u2002method\u2002from\u2002the\u2002commencement\u2002date\u2002to\u2002the\u2002earlier\u2002of\u2002the\u2002end\u2002of\u2002the\u2002useful\u2002life\u2002of\u2002the\u2002asset\u2002or\u2002the\u2002end\u2002of\u2002the\u2002lease\u2002term.\u2002The\u2002estimated\u2002useful\u2002lives\u2002of\u2002right-of-use\u2002assets\u2002are\u2002determined\u2002on\u2002the\u2002same\u2002basis\u2002as\u2002those\u2002of\u2002property,\u2002plant\u2002and\u2002equipment.\u2002The\u2002depreciation\u2002charges\u2002are\u2002included\u2002in\u2002cost\u2002of\u2002sales.\u2002In\u2002addition,\u2002the\u2002right-of-use\u2002asset\u2002is\u2002reduced\u2002by\u2002any\u2002impairment\u2002losses\u2002and\u2002adjusted\u2002for\u2002certain\u2002remeasurements\u2002of\u2002the\u2002lease\u2002liability\u2002associated\u2002with\u2002changes\u2002to\u2002the\u2002lease\u2002term. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-372": { "value": "Property, plant and equipment Property,\u2002plant\u2002and\u2002equipment\u2002is\u2002carried\u2002at\u2002cost\u2002less\u2002accumulated\u2002depreciation\u2002and\u2002impairment\u2002losses.\u2002Where\u2002parts\u2002of\u2002an\u2002item\u2002of\u2002property,\u2002plant\u2002and\u2002equipment\u2002have\u2002different\u2002useful\u2002lives,\u2002they\u2002are\u2002accounted\u2002for\u2002as\u2002separate\u2002items.\u2002Cost\u2002comprises\u2002purchase\u2002price\u2002and\u2002directly\u2002attributable\u2002costs.\u2002Depreciation\u2002is\u2002charged\u2002to\u2002administration\u2002expenses.\u2002Freehold\u2002land\u2002is\u2002not\u2002depreciated.\u2002For\u2002all\u2002other\u2002property,\u2002plant\u2002and\u2002equipment,\u2002depreciation\u2002is\u2002calculated\u2002on\u2002a\u2002straight-line\u2002basis\u2002to\u2002allocate\u2002cost\u2002less\u2002residual\u2002values\u2002of\u2002the\u2002assets\u2002over\u2002their\u2002estimated\u2002useful\u2002lives\u2002as\u2002follows:
Leasehold\u2002buildings
\u2013\u2002shorter\u2002of\u200250\u2002years\u2002or\u2002lease\u2002term
Vehicles,\u2002plant\u2002and\u2002equipment
\u2013\u20023\u2002to\u200210\u2002years
Leasehold\u2002improvements
\u2013\u2002lease\u2002term
The\u2002assets\u2019\u2002residual\u2002values\u2002and\u2002useful\u2002lives\u2002are\u2002reviewed\u2002and\u2002adjusted,\u2002if\u2002appropriate,\u2002at\u2002each\u2002statement\u2002of\u2002financial\u2002position\u2002date. The\u2002asset\u2002is\u2002subsequently\u2002depreciated\u2002using\u2002the\u2002straight-line\u2002method\u2002from\u2002the\u2002commencement\u2002date\u2002to\u2002the\u2002earlier\u2002of\u2002the\u2002end\u2002of\u2002the\u2002useful\u2002life\u2002of\u2002the\u2002asset\u2002or\u2002the\u2002end\u2002of\u2002the\u2002lease\u2002term.\u2002The\u2002estimated\u2002useful\u2002lives\u2002of\u2002right-of-use\u2002assets\u2002are\u2002determined\u2002on\u2002the\u2002same\u2002basis\u2002as\u2002those\u2002of\u2002property,\u2002plant\u2002and\u2002equipment.\u2002The\u2002depreciation\u2002charges\u2002are\u2002included\u2002in\u2002cost\u2002of\u2002sales.\u2002In\u2002addition,\u2002the\u2002right-of-use\u2002asset\u2002is\u2002reduced\u2002by\u2002any\u2002impairment\u2002losses\u2002and\u2002adjusted\u2002for\u2002certain\u2002remeasurements\u2002of\u2002the\u2002lease\u2002liability\u2002associated\u2002with\u2002changes\u2002to\u2002the\u2002lease\u2002term. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-403": { "value": "Impairment of non-financial assets For\u2002the\u2002purposes\u2002of\u2002impairment\u2002testing,\u2002goodwill\u2002is\u2002allocated\u2002to\u2002the\u2002cash\u2002generating\u2002units\u2002expected\u2002to\u2002benefit\u2002from\u2002the\u2002synergies\u2002of\u2002the\u2002combination.\u2002Cash\u2002generating\u2002units\u2002to\u2002which\u2002goodwill\u2002has\u2002been\u2002allocated\u2002are\u2002tested\u2002for\u2002impairment\u2002annually,\u2002or\u2002more\u2002frequently\u2002when\u2002there\u2002is\u2002an\u2002indication\u2002that\u2002the\u2002unit\u2002may\u2002be\u2002impaired.\u2002If\u2002the\u2002recoverable\u2002amount\u2002of\u2002the\u2002cash\u2002generating\u2002unit\u2002is\u2002less\u2002than\u2002the\u2002carrying\u2002amount\u2002of\u2002the\u2002unit,\u2002the\u2002impairment\u2002loss\u2002is\u2002allocated\u2002first\u2002to\u2002reduce\u2002the\u2002carrying\u2002amount\u2002of\u2002any\u2002goodwill\u2002allocated\u2002to\u2002the\u2002unit\u2002and\u2002then\u2002to\u2002other\u2002assets\u2002of\u2002the\u2002unit\u2002pro-rata\u2002on\u2002the\u2002basis\u2002of\u2002the\u2002carrying\u2002amount\u2002of\u2002each\u2002asset\u2002in\u2002the\u2002unit. The\u2002carrying\u2002amounts\u2002of\u2002other\u2002non-financial\u2002assets,\u2002except\u2002deferred\u2002tax\u2002assets,\u2002are\u2002reviewed\u2002at\u2002each\u2002statement\u2002of\u2002financial\u2002position\u2002date\u2002to\u2002determine\u2002whether\u2002there\u2002is\u2002any\u2002indication\u2002of\u2002impairment.\u2002If\u2002any\u2002such\u2002indication\u2002exists,\u2002the\u2002asset\u2019s\u2002recoverable\u2002amount\u2002is\u2002estimated.\u2002An\u2002impairment\u2002loss\u2002is\u2002recognised\u2002whenever\u2002the\u2002carrying\u2002amount\u2002of\u2002an\u2002asset,\u2002or\u2002its\u2002cash\u2002generating\u2002unit,\u2002is\u2002less\u2002than\u2002the\u2002recoverable\u2002amount.\u2002Impairment\u2002losses\u2002are\u2002recognised\u2002in\u2002the\u2002income\u2002statement. An\u2002impairment\u2002loss\u2002(other\u2002than\u2002in\u2002relation\u2002to\u2002goodwill)\u2002is\u2002reversed\u2002if\u2002there\u2002has\u2002been\u2002a\u2002change\u2002in\u2002estimates,\u2002resulting\u2002in\u2002the\u2002recoverable\u2002amount\u2002exceeding\u2002the\u2002impaired\u2002carrying\u2002value\u2002of\u2002the\u2002asset.\u2002An\u2002impairment\u2002loss\u2002is\u2002reversed\u2002only\u2002to\u2002the\u2002extent\u2002that\u2002the\u2002carrying\u2002amount\u2002of\u2002the\u2002asset\u2002does\u2002not\u2002exceed\u2002the\u2002carrying\u2002amount\u2002that\u2002would\u2002have\u2002been\u2002determined,\u2002net\u2002of\u2002depreciation\u2002or\u2002amortisation,\u2002if\u2002no\u2002impairment\u2002loss\u2002had\u2002been\u2002recognised. Impairment\u2002of\u2002financial\u2002assets Impairment\u2002of\u2002financial\u2002assets\u2002is\u2002based\u2002on\u2002an\u2002expected\u2002credit\u2002loss\u2002model\u2002applying\u2002the\u2002simplified\u2002approach\u2002permitted\u2002under\u2002IFRS\u20029.\u2002The\u2002Group\u2002calculates\u2002an\u2002allowance\u2002for\u2002credit\u2002losses\u2002based\u2002on\u2002the\u2002nature\u2002of\u2002the\u2002customer,\u2002experience\u2002of\u2002collecting\u2002receivables\u2002from\u2002similar\u2002customers\u2002and\u2002modelling\u2002default\u2002scenarios\u2002and\u2002applying\u2002probabilities\u2002of\u2002such\u2002scenarios. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-332": { "value": "Impairment of non-financial assets For\u2002the\u2002purposes\u2002of\u2002impairment\u2002testing,\u2002goodwill\u2002is\u2002allocated\u2002to\u2002the\u2002cash\u2002generating\u2002units\u2002expected\u2002to\u2002benefit\u2002from\u2002the\u2002synergies\u2002of\u2002the\u2002combination.\u2002Cash\u2002generating\u2002units\u2002to\u2002which\u2002goodwill\u2002has\u2002been\u2002allocated\u2002are\u2002tested\u2002for\u2002impairment\u2002annually,\u2002or\u2002more\u2002frequently\u2002when\u2002there\u2002is\u2002an\u2002indication\u2002that\u2002the\u2002unit\u2002may\u2002be\u2002impaired.\u2002If\u2002the\u2002recoverable\u2002amount\u2002of\u2002the\u2002cash\u2002generating\u2002unit\u2002is\u2002less\u2002than\u2002the\u2002carrying\u2002amount\u2002of\u2002the\u2002unit,\u2002the\u2002impairment\u2002loss\u2002is\u2002allocated\u2002first\u2002to\u2002reduce\u2002the\u2002carrying\u2002amount\u2002of\u2002any\u2002goodwill\u2002allocated\u2002to\u2002the\u2002unit\u2002and\u2002then\u2002to\u2002other\u2002assets\u2002of\u2002the\u2002unit\u2002pro-rata\u2002on\u2002the\u2002basis\u2002of\u2002the\u2002carrying\u2002amount\u2002of\u2002each\u2002asset\u2002in\u2002the\u2002unit. The\u2002carrying\u2002amounts\u2002of\u2002other\u2002non-financial\u2002assets,\u2002except\u2002deferred\u2002tax\u2002assets,\u2002are\u2002reviewed\u2002at\u2002each\u2002statement\u2002of\u2002financial\u2002position\u2002date\u2002to\u2002determine\u2002whether\u2002there\u2002is\u2002any\u2002indication\u2002of\u2002impairment.\u2002If\u2002any\u2002such\u2002indication\u2002exists,\u2002the\u2002asset\u2019s\u2002recoverable\u2002amount\u2002is\u2002estimated.\u2002An\u2002impairment\u2002loss\u2002is\u2002recognised\u2002whenever\u2002the\u2002carrying\u2002amount\u2002of\u2002an\u2002asset,\u2002or\u2002its\u2002cash\u2002generating\u2002unit,\u2002is\u2002less\u2002than\u2002the\u2002recoverable\u2002amount.\u2002Impairment\u2002losses\u2002are\u2002recognised\u2002in\u2002the\u2002income\u2002statement. An\u2002impairment\u2002loss\u2002(other\u2002than\u2002in\u2002relation\u2002to\u2002goodwill)\u2002is\u2002reversed\u2002if\u2002there\u2002has\u2002been\u2002a\u2002change\u2002in\u2002estimates,\u2002resulting\u2002in\u2002the\u2002recoverable\u2002amount\u2002exceeding\u2002the\u2002impaired\u2002carrying\u2002value\u2002of\u2002the\u2002asset.\u2002An\u2002impairment\u2002loss\u2002is\u2002reversed\u2002only\u2002to\u2002the\u2002extent\u2002that\u2002the\u2002carrying\u2002amount\u2002of\u2002the\u2002asset\u2002does\u2002not\u2002exceed\u2002the\u2002carrying\u2002amount\u2002that\u2002would\u2002have\u2002been\u2002determined,\u2002net\u2002of\u2002depreciation\u2002or\u2002amortisation,\u2002if\u2002no\u2002impairment\u2002loss\u2002had\u2002been\u2002recognised. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-333": { "value": "Provisions A\u2002provision\u2002is\u2002recognised\u2002in\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002when\u2002there\u2002is\u2002a\u2002legal\u2002or\u2002constructive\u2002obligation\u2002as\u2002a\u2002result\u2002of\u2002a\u2002past\u2002event\u2002and\u2002it\u2002is\u2002probable\u2002that\u2002an\u2002outflow\u2002of\u2002economic\u2002benefits\u2002will\u2002be\u2002required\u2002to\u2002settle\u2002the\u2002obligation.\u2002If\u2002the\u2002effect\u2002is\u2002material,\u2002provisions\u2002are\u2002determined\u2002by\u2002discounting\u2002the\u2002expected\u2002future\u2002cash\u2002flows\u2002at\u2002a\u2002pre-tax\u2002rate\u2002that\u2002reflects\u2002current\u2002market\u2002assessments\u2002of\u2002the\u2002time\u2002value\u2002of\u2002money\u2002and,\u2002where\u2002appropriate,\u2002the\u2002risks\u2002specific\u2002to\u2002the\u2002liability. A\u2002provision\u2002for\u2002onerous\u2002contracts\u2002is\u2002recognised\u2002when\u2002the\u2002expected\u2002benefits\u2002to\u2002be\u2002derived\u2002from\u2002a\u2002contract\u2002are\u2002lower\u2002than\u2002the\u2002unavoidable\u2002cost\u2002of\u2002meeting\u2002the\u2002obligations\u2002under\u2002the\u2002contract. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-373": { "value": "Taxation The\u2002tax\u2002expense\u2002represents\u2002the\u2002sum\u2002of\u2002UK\u2002corporation\u2002tax\u2002and\u2002overseas\u2002tax\u2002currently\u2002payable\u2002and\u2002deferred\u2002tax. The\u2002tax\u2002currently\u2002payable\u2002is\u2002based\u2002on\u2002the\u2002taxable\u2002profit\u2002for\u2002the\u2002year.\u2002Taxable\u2002profit\u2002differs\u2002from\u2002profit\u2002before\u2002tax\u2002as\u2002reported\u2002in\u2002the\u2002income\u2002statement\u2002because\u2002it\u2002excludes\u2002items\u2002of\u2002income\u2002or\u2002expense\u2002that\u2002are\u2002taxable\u2002or\u2002deductible\u2002in\u2002other\u2002years\u2002and\u2002it\u2002excludes\u2002items\u2002that\u2002are\u2002never\u2002taxable\u2002or\u2002deductible.\u2002The\u2002liability\u2002for\u2002current\u2002tax\u2002is\u2002calculated\u2002using\u2002tax\u2002rates\u2002and\u2002laws\u2002that\u2002have\u2002been\u2002enacted\u2002or\u2002substantively\u2002enacted\u2002by\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002date. Deferred\u2002tax\u2002is\u2002the\u2002tax\u2002expected\u2002to\u2002be\u2002payable\u2002or\u2002recoverable\u2002on\u2002differences\u2002between\u2002the\u2002carrying\u2002amounts\u2002of\u2002assets\u2002and\u2002liabilities\u2002in\u2002the\u2002financial\u2002statements\u2002and\u2002the\u2002corresponding\u2002tax\u2002bases\u2002used\u2002in\u2002the\u2002computation\u2002of\u2002taxable\u2002profit\u2002and\u2002is\u2002accounted\u2002for\u2002using\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002liability\u2002method.\u2002Deferred\u2002tax\u2002liabilities\u2002are\u2002generally\u2002recognised\u2002for\u2002all\u2002temporary\u2002differences\u2002except\u2002for\u2002those\u2002specific\u2002exemptions\u2002set\u2002out\u2002below\u2002and\u2002deferred\u2002tax\u2002assets\u2002are\u2002recognised\u2002to\u2002the\u2002extent\u2002that\u2002it\u2002is\u2002probable\u2002that\u2002future\u2002taxable\u2002profits\u2002will\u2002be\u2002available,\u2002against\u2002which\u2002deductible\u2002temporary\u2002differences\u2002can\u2002be\u2002utilised.\u2002The\u2002carrying\u2002amount\u2002of\u2002deferred\u2002tax\u2002assets\u2002is\u2002reviewed\u2002at\u2002each\u2002statement\u2002of\u2002financial\u2002position\u2002date. Such\u2002assets\u2002and\u2002liabilities\u2002are\u2002not\u2002recognised\u2002if\u2002the\u2002temporary\u2002difference\u2002arises\u2002from\u2002the\u2002initial\u2002recognition\u2002of\u2002goodwill\u2002or\u2002from\u2002the\u2002initial\u2002recognition\u2002of\u2002other\u2002assets\u2002and\u2002liabilities\u2002(other\u2002than\u2002in\u2002a\u2002business\u2002combination)\u2002in\u2002a\u2002transaction\u2002that\u2002affects\u2002neither\u2002the\u2002taxable\u2002profit\u2002nor\u2002the\u2002accounting\u2002profit. Deferred\u2002tax\u2002is\u2002calculated\u2002at\u2002the\u2002tax\u2002rates\u2002based\u2002on\u2002those\u2002enacted\u2002or\u2002substantially\u2002enacted\u2002at\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002date.\u2002Deferred\u2002tax\u2002is\u2002charged\u2002or\u2002credited\u2002in\u2002the\u2002income\u2002statement\u2002except\u2002when\u2002it\u2002relates\u2002to\u2002items\u2002charged\u2002or\u2002credited\u2002directly\u2002to\u2002equity,\u2002in\u2002which\u2002case\u2002the\u2002deferred\u2002tax\u2002is\u2002also\u2002recognised\u2002in\u2002equity. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-334": { "value": "Taxation The\u2002tax\u2002expense\u2002represents\u2002the\u2002sum\u2002of\u2002UK\u2002corporation\u2002tax\u2002and\u2002overseas\u2002tax\u2002currently\u2002payable\u2002and\u2002deferred\u2002tax. The\u2002tax\u2002currently\u2002payable\u2002is\u2002based\u2002on\u2002the\u2002taxable\u2002profit\u2002for\u2002the\u2002year.\u2002Taxable\u2002profit\u2002differs\u2002from\u2002profit\u2002before\u2002tax\u2002as\u2002reported\u2002in\u2002the\u2002income\u2002statement\u2002because\u2002it\u2002excludes\u2002items\u2002of\u2002income\u2002or\u2002expense\u2002that\u2002are\u2002taxable\u2002or\u2002deductible\u2002in\u2002other\u2002years\u2002and\u2002it\u2002excludes\u2002items\u2002that\u2002are\u2002never\u2002taxable\u2002or\u2002deductible.\u2002The\u2002liability\u2002for\u2002current\u2002tax\u2002is\u2002calculated\u2002using\u2002tax\u2002rates\u2002and\u2002laws\u2002that\u2002have\u2002been\u2002enacted\u2002or\u2002substantively\u2002enacted\u2002by\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002date. Deferred\u2002tax\u2002is\u2002the\u2002tax\u2002expected\u2002to\u2002be\u2002payable\u2002or\u2002recoverable\u2002on\u2002differences\u2002between\u2002the\u2002carrying\u2002amounts\u2002of\u2002assets\u2002and\u2002liabilities\u2002in\u2002the\u2002financial\u2002statements\u2002and\u2002the\u2002corresponding\u2002tax\u2002bases\u2002used\u2002in\u2002the\u2002computation\u2002of\u2002taxable\u2002profit\u2002and\u2002is\u2002accounted\u2002for\u2002using\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002liability\u2002method.\u2002Deferred\u2002tax\u2002liabilities\u2002are\u2002generally\u2002recognised\u2002for\u2002all\u2002temporary\u2002differences\u2002except\u2002for\u2002those\u2002specific\u2002exemptions\u2002set\u2002out\u2002below\u2002and\u2002deferred\u2002tax\u2002assets\u2002are\u2002recognised\u2002to\u2002the\u2002extent\u2002that\u2002it\u2002is\u2002probable\u2002that\u2002future\u2002taxable\u2002profits\u2002will\u2002be\u2002available,\u2002against\u2002which\u2002deductible\u2002temporary\u2002differences\u2002can\u2002be\u2002utilised.\u2002The\u2002carrying\u2002amount\u2002of\u2002deferred\u2002tax\u2002assets\u2002is\u2002reviewed\u2002at\u2002each\u2002statement\u2002of\u2002financial\u2002position\u2002date. Such\u2002assets\u2002and\u2002liabilities\u2002are\u2002not\u2002recognised\u2002if\u2002the\u2002temporary\u2002difference\u2002arises\u2002from\u2002the\u2002initial\u2002recognition\u2002of\u2002goodwill\u2002or\u2002from\u2002the\u2002initial\u2002recognition\u2002of\u2002other\u2002assets\u2002and\u2002liabilities\u2002(other\u2002than\u2002in\u2002a\u2002business\u2002combination)\u2002in\u2002a\u2002transaction\u2002that\u2002affects\u2002neither\u2002the\u2002taxable\u2002profit\u2002nor\u2002the\u2002accounting\u2002profit. Deferred\u2002tax\u2002is\u2002calculated\u2002at\u2002the\u2002tax\u2002rates\u2002based\u2002on\u2002those\u2002enacted\u2002or\u2002substantially\u2002enacted\u2002at\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002date.\u2002Deferred\u2002tax\u2002is\u2002charged\u2002or\u2002credited\u2002in\u2002the\u2002income\u2002statement\u2002except\u2002when\u2002it\u2002relates\u2002to\u2002items\u2002charged\u2002or\u2002credited\u2002directly\u2002to\u2002equity,\u2002in\u2002which\u2002case\u2002the\u2002deferred\u2002tax\u2002is\u2002also\u2002recognised\u2002in\u2002equity. Additional\u2002taxes\u2002arising\u2002from\u2002the\u2002distribution\u2002of\u2002dividends\u2002are\u2002recognised\u2002at\u2002the\u2002same\u2002time\u2002as\u2002the\u2002liability\u2002to\u2002pay\u2002the\u2002related\u2002dividend. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-374": { "value": "Additional\u2002taxes\u2002arising\u2002from\u2002the\u2002distribution\u2002of\u2002dividends\u2002are\u2002recognised\u2002at\u2002the\u2002same\u2002time\u2002as\u2002the\u2002liability\u2002to\u2002pay\u2002the\u2002related\u2002dividend. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-336": { "value": "Leases Where\u2002the\u2002Group\u2002is\u2002party\u2002to\u2002a\u2002lease,\u2002except\u2002for\u2002short-term\u2002leases\u2002or\u2002leases\u2002of\u2002low-value\u2002assets\u2002(as\u2002noted\u2002below),\u2002the\u2002Group\u2002recognises\u2002a\u2002right-of-use\u2002asset\u2002and\u2002a\u2002lease\u2002liability\u2002upon\u2002lease\u2002commencement.\u2002The\u2002major\u2002categories\u2002of\u2002leased\u2002items\u2002within\u2002the\u2002scope\u2002of\u2002IFRS\u200216\u2002are\u2002properties,\u2002vehicles\u2002and\u2002site\u2002plant.\u2002Changes\u2002to\u2002contract\u2002scope\u2002can\u2002lengthen\u2002or\u2002shorten\u2002contract\u2002programmes\u2002and\u2002result\u2002in\u2002extensions\u2002or\u2002early\u2002terminations\u2002to\u2002site\u2002plant\u2002lease\u2002terms. The\u2002right-of-use\u2002asset\u2002is\u2002initially\u2002measured\u2002at\u2002cost,\u2002which\u2002comprises\u2002the\u2002initial\u2002amount\u2002of\u2002the\u2002lease\u2002liability\u2002adjusted\u2002for\u2002any\u2002lease\u2002payments\u2002made\u2002at\u2002or\u2002before\u2002the\u2002commencement\u2002date,\u2002any\u2002initial\u2002direct\u2002costs\u2002incurred\u2002and\u2002an\u2002estimate\u2002of\u2002costs\u2002to\u2002dismantle\u2002and\u2002remove\u2002or\u2002to\u2002restore\u2002the\u2002underlying\u2002asset\u2002or\u2002the\u2002site\u2002on\u2002which\u2002it\u2002is\u2002located,\u2002less\u2002any\u2002lease\u2002incentives\u2002received. The\u2002asset\u2002is\u2002subsequently\u2002depreciated\u2002using\u2002the\u2002straight-line\u2002method\u2002from\u2002the\u2002commencement\u2002date\u2002to\u2002the\u2002earlier\u2002of\u2002the\u2002end\u2002of\u2002the\u2002useful\u2002life\u2002of\u2002the\u2002asset\u2002or\u2002the\u2002end\u2002of\u2002the\u2002lease\u2002term.\u2002The\u2002estimated\u2002useful\u2002lives\u2002of\u2002right-of-use\u2002assets\u2002are\u2002determined\u2002on\u2002the\u2002same\u2002basis\u2002as\u2002those\u2002of\u2002property,\u2002plant\u2002and\u2002equipment.\u2002The\u2002depreciation\u2002charges\u2002are\u2002included\u2002in\u2002cost\u2002of\u2002sales.\u2002In\u2002addition,\u2002the\u2002right-of-use\u2002asset\u2002is\u2002reduced\u2002by\u2002any\u2002impairment\u2002losses\u2002and\u2002adjusted\u2002for\u2002certain\u2002remeasurements\u2002of\u2002the\u2002lease\u2002liability\u2002associated\u2002with\u2002changes\u2002to\u2002the\u2002lease\u2002term. The\u2002lease\u2002liability\u2002is\u2002initially\u2002measured\u2002at\u2002the\u2002present\u2002value\u2002of\u2002the\u2002lease\u2002payments\u2002payable\u2002over\u2002the\u2002lease\u2002term\u2002discounted\u2002at\u2002the\u2002interest\u2002rate\u2002implicit\u2002in\u2002the\u2002lease,\u2002or\u2002where\u2002this\u2002cannot\u2002be\u2002readily\u2002determined,\u2002the\u2002incremental\u2002borrowing\u2002rate. The\u2002amount\u2002charged\u2002to\u2002the\u2002income\u2002statement\u2002comprises\u2002the\u2002depreciation\u2002of\u2002the\u2002right-of-use\u2002asset\u2002and\u2002the\u2002imputed\u2002interest\u2002on\u2002the\u2002lease\u2002liability. Payments\u2002associated\u2002with\u2002short-term\u2002leases\u2002and\u2002leases\u2002of\u2002low-value\u2002assets\u2002are\u2002recognised\u2002on\u2002a\u2002straight-line\u2002basis\u2002as\u2002an\u2002expense\u2002in\u2002the\u2002income\u2002statement.\u2002Short-term\u2002leases\u2002are\u2002leases\u2002with\u2002a\u2002lease\u2002term\u2002of\u200212\u2002months\u2002or\u2002less. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-341": { "value": "Guarantee contracts Customers\u2002awarding\u2002long-term\u2002contracting\u2002work\u2002may,\u2002as\u2002a\u2002condition\u2002of\u2002the\u2002award,\u2002require\u2002the\u2002contractor\u2002to\u2002provide\u2002performance\u2002and\u2002other\u2002bonds.\u2002Group\u2002bank\u2002borrowing\u2002facilities\u2002and\u2002bank\u2002and\u2002surety\u2002bonding\u2002facilities\u2002are\u2002supported\u2002by\u2002cross-guarantees\u2002given\u2002by\u2002the\u2002Company\u2002and\u2002participating\u2002companies\u2002in\u2002the\u2002Group. The\u2002Company\u2002accounts\u2002for\u2002these\u2002as\u2002financial\u2002guarantee\u2002contracts\u2002under\u2002IFRS\u20029. Financial assets and liabilities Financial\u2002assets\u2002and\u2002financial\u2002liabilities\u2002are\u2002recognised\u2002in\u2002the\u2002Group\u2019s\u2002statement\u2002of\u2002financial\u2002position\u2002when\u2002the\u2002Group\u2002becomes\u2002a\u2002party\u2002to\u2002the\u2002contractual\u2002provisions\u2002of\u2002the\u2002instrument. (a)\u2002Financial\u2002assets The\u2002classification\u2002depends\u2002on\u2002the\u2002nature\u2002and\u2002purpose\u2002of\u2002the\u2002financial\u2002asset\u2002and\u2002is\u2002determined\u2002at\u2002the\u2002time\u2002of\u2002initial\u2002recognition. A\u2002financial\u2002asset\u2002is\u2002derecognised\u2002only\u2002when\u2002the\u2002contractual\u2002rights\u2002to\u2002the\u2002cash\u2002flows\u2002from\u2002that\u2002asset\u2002expire,\u2002or\u2002the\u2002financial\u2002asset\u2002and\u2002substantially\u2002all\u2002the\u2002risks\u2002and\u2002rewards\u2002of\u2002ownership\u2002of\u2002the\u2002asset\u2002are\u2002transferred\u2002to\u2002another\u2002entity. Trade\u2002and\u2002other\u2002receivables Trade\u2002and\u2002other\u2002receivables\u2002that\u2002are\u2002financial\u2002assets\u2002do\u2002not\u2002carry\u2002interest\u2002and\u2002are\u2002stated\u2002at\u2002amortised\u2002cost\u2002less\u2002loss\u2002allowances.\u2002Trade\u2002receivables\u2002represent\u2002an\u2002unconditional\u2002right\u2002to\u2002receive\u2002consideration.\u2002Cash\u2002and\u2002cash\u2002equivalents Cash\u2002and\u2002cash\u2002equivalents\u2002comprise\u2002cash\u2002balances\u2002and\u2002call\u2002deposits.\u2002This\u2002policy\u2002applies\u2002to\u2002both\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002and\u2002the\u2002cash\u2002flow\u2002statement. Cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions \u2018Cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions\u2019\u2002comprise\u2002amounts\u2002held\u2002in\u2002trust\u2002accounts\u2002on\u2002behalf\u2002of\u2002certain\u2002customers\u2002and\u2002designated\u2002for\u2002future\u2002payment\u2002to\u2002suppliers. Impairment\u2002of\u2002financial\u2002assets Impairment\u2002of\u2002financial\u2002assets\u2002is\u2002based\u2002on\u2002an\u2002expected\u2002credit\u2002loss\u2002model\u2002applying\u2002the\u2002simplified\u2002approach\u2002permitted\u2002under\u2002IFRS\u20029.\u2002The\u2002Group\u2002calculates\u2002an\u2002allowance\u2002for\u2002credit\u2002losses\u2002based\u2002on\u2002the\u2002nature\u2002of\u2002the\u2002customer,\u2002experience\u2002of\u2002collecting\u2002receivables\u2002from\u2002similar\u2002customers\u2002and\u2002modelling\u2002default\u2002scenarios\u2002and\u2002applying\u2002probabilities\u2002of\u2002such\u2002scenarios. (b)\u2002Financial\u2002liabilities Financial\u2002liabilities,\u2002including\u2002borrowings,\u2002are\u2002initially\u2002measured\u2002at\u2002fair\u2002value,\u2002net\u2002of\u2002transaction\u2002costs.\u2002Financial\u2002liabilities\u2002are\u2002subsequently\u2002measured\u2002at\u2002amortised\u2002cost\u2002using\u2002the\u2002effective\u2002interest\u2002method,\u2002with\u2002interest\u2002expense\u2002recognised\u2002on\u2002an\u2002effective\u2002yield\u2002basis. Financial\u2002liabilities\u2002are\u2002derecognised\u2002only\u2002when\u2002the\u2002obligations\u2002are\u2002discharged,\u2002cancelled\u2002or\u2002expire. Trade\u2002and\u2002other\u2002payables Trade\u2002and\u2002other\u2002payables\u2002that\u2002are\u2002financial\u2002liabilities\u2002are\u2002recognised\u2002initially\u2002at\u2002fair\u2002value\u2002and\u2002subsequently\u2002measured\u2002at\u2002amortised\u2002cost\u2002using\u2002the\u2002effective\u2002interest\u2002method. (c)\u2002Fair\u2002value\u2002measurement When\u2002measuring\u2002the\u2002fair\u2002value\u2002of\u2002a\u2002financial\u2002or\u2002non-financial\u2002asset\u2002or\u2002liability,\u2002the\u2002Group\u2002uses\u2002market\u2002observable\u2002data\u2002as\u2002far\u2002as\u2002possible.\u2002Fair\u2002values\u2002are\u2002categorised\u2002into\u2002different\u2002levels,\u2002in\u2002a\u2002fair\u2002value\u2002hierarchy,\u2002based\u2002on\u2002the\u2002inputs\u2002used\u2002in\u2002the\u2002valuation\u2002techniques\u2002as\u2002follows: \u2022 Level\u20021:\u2002Quoted\u2002prices\u2002(unadjusted)\u2002in\u2002active\u2002markets\u2002for\u2002identical\u2002assets\u2002and\u2002liabilities. \u2022 Level\u20022:\u2002Inputs\u2002other\u2002than\u2002quoted\u2002prices\u2002included\u2002within\u2002Level\u20021\u2002that\u2002are\u2002observable\u2002for\u2002the\u2002asset\u2002or\u2002liability,\u2002either\u2002directly\u2002 (i.e.\u2002as\u2002prices)\u2002or\u2002indirectly\u2002(i.e.\u2002derived\u2002from\u2002prices). \u2022 Level\u20023:\u2002Inputs\u2002for\u2002the\u2002asset\u2002or\u2002liability\u2002that\u2002are\u2002not\u2002based\u2002on\u2002observable\u2002market\u2002data\u2002(unobservable\u2002inputs). If\u2002the\u2002inputs\u2002used\u2002to\u2002measure\u2002the\u2002fair\u2002value\u2002of\u2002an\u2002asset\u2002or\u2002liability\u2002might\u2002be\u2002categorised\u2002in\u2002different\u2002levels\u2002of\u2002the\u2002fair\u2002value\u2002hierarchy,\u2002then\u2002the\u2002fair\u2002value\u2002measurement\u2002is\u2002categorised\u2002in\u2002its\u2002entirety\u2002in\u2002the\u2002same\u2002level\u2002of\u2002the\u2002hierarchy\u2002as\u2002the\u2002lowest\u2002level\u2002input\u2002that\u2002is\u2002significant\u2002to\u2002the\u2002entire\u2002measurement. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-375": { "value": "Guarantee contracts Customers\u2002awarding\u2002long-term\u2002contracting\u2002work\u2002may,\u2002as\u2002a\u2002condition\u2002of\u2002the\u2002award,\u2002require\u2002the\u2002contractor\u2002to\u2002provide\u2002performance\u2002and\u2002other\u2002bonds.\u2002Group\u2002bank\u2002borrowing\u2002facilities\u2002and\u2002bank\u2002and\u2002surety\u2002bonding\u2002facilities\u2002are\u2002supported\u2002by\u2002cross-guarantees\u2002given\u2002by\u2002the\u2002Company\u2002and\u2002participating\u2002companies\u2002in\u2002the\u2002Group. The\u2002Company\u2002accounts\u2002for\u2002these\u2002as\u2002financial\u2002guarantee\u2002contracts\u2002under\u2002IFRS\u20029. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialGuaranteesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-337": { "value": "Share capital Ordinary\u2002shares\u2002are\u2002classified\u2002as\u2002equity.\u2002Incremental\u2002costs\u2002directly\u2002attributable\u2002to\u2002the\u2002issue\u2002of\u2002new\u2002shares\u2002or\u2002options\u2002are\u2002shown\u2002in\u2002equity\u2002as\u2002a\u2002deduction,\u2002net\u2002of\u2002tax,\u2002from\u2002the\u2002proceeds. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-338": { "value": "Dividends Dividends\u2002are\u2002recognised\u2002as\u2002distributions\u2002in\u2002the\u2002period\u2002in\u2002which\u2002they\u2002are\u2002declared.\u2002Dividends\u2002proposed\u2002but\u2002not\u2002declared\u2002are\u2002not\u2002recognised\u2002but\u2002are\u2002disclosed\u2002in\u2002note\u200211\u2002to\u2002the\u2002financial\u2002statements. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-339": { "value": "Share-based payments These\u2002comprise\u2002equity-settled\u2002share-based\u2002compensation\u2002plans. Equity-settled\u2002share-based\u2002payments\u2002are\u2002measured\u2002at\u2002fair\u2002value\u2002at\u2002the\u2002date\u2002of\u2002grant\u2002and\u2002the\u2002fair\u2002value\u2002is\u2002expensed\u2002over\u2002the\u2002vesting\u2002period,\u2002based\u2002on\u2002the\u2002estimate\u2002of\u2002awards\u2002that\u2002will\u2002eventually\u2002vest.\u2002Fair\u2002value\u2002is\u2002measured\u2002using\u2002a\u2002Black-Scholes\u2002option\u2002pricing\u2002model. Market\u2002performance\u2002conditions\u2002are\u2002reflected\u2002in\u2002the\u2002grant\u2002date\u2002fair\u2002value\u2002of\u2002the\u2002option.\u2002Non-market\u2002vesting\u2002conditions\u2002are\u2002not\u2002included\u2002when\u2002estimating\u2002the\u2002grant\u2002date\u2002fair\u2002value;\u2002instead,\u2002the\u2002estimate\u2002of\u2002the\u2002number\u2002of\u2002equity\u2002instruments\u2002expected\u2002to\u2002vest\u2002is\u2002revised\u2002at\u2002each\u2002period\u2002end\u2002for\u2002changes\u2002in\u2002estimates\u2002of\u2002non-market\u2002conditions\u2002and\u2002on\u2002final\u2002vesting. Where\u2002options\u2002over\u2002shares\u2002in\u2002the\u2002Company\u2002are\u2002granted\u2002to\u2002employees\u2002of\u2002subsidiaries,\u2002the\u2002Company\u2002recognises\u2002in\u2002its\u2002financial\u2002statements\u2002an\u2002increase\u2002in\u2002the\u2002cost\u2002of\u2002investment\u2002in\u2002its\u2002subsidiaries\u2002equivalent\u2002to\u2002the\u2002equity-settled\u2002share-based\u2002payment\u2002charge\u2002recognised\u2002in\u2002its\u2002subsidiaries\u2019\u2002financial\u2002statements,\u2002with\u2002the\u2002corresponding\u2002credit\u2002being\u2002recognised\u2002directly\u2002in\u2002equity. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-340": { "value": "Treasury shares Applying\u2002the\u2002principles\u2002in\u2002IFRS\u200210,\u2002the\u2002Group\u2002controls\u2002the\u2002Employee\u2002Benefit\u2002Trust\u2002that\u2002holds\u2002small\u2002numbers\u2002of\u2002Company\u2002shares\u2002to\u2002be\u2002issued\u2002under\u2002the\u2002Costain\u2002employee\u2002share\u2002schemes.\u2002Therefore,\u2002the\u2002Employee\u2002Benefit\u2002Trust\u2002is\u2002consolidated\u2002in\u2002these\u2002financial\u2002statements\u2002and\u2002shares\u2002held\u2002by\u2002the\u2002Employee\u2002Benefit\u2002Trust\u2002are\u2002presented\u2002as\u2002Treasury\u2002shares,\u2002being\u2002a\u2002deduction\u2002to\u2002equity\u2002in\u2002the\u2002statement\u2002of\u2002financial\u2002position. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-342": { "value": "Retirement benefit obligations A\u2002defined\u2002benefit\u2002pension\u2002scheme\u2002is\u2002operated\u2002in\u2002the\u2002UK,\u2002which\u2002provides\u2002benefits\u2002based\u2002on\u2002pensionable\u2002salary\u2002and\u2002is\u2002closed\u2002to\u2002future\u2002accrual.\u2002The\u2002details\u2002are\u2002included\u2002in\u2002note\u200221.\u2002The\u2002assets\u2002of\u2002the\u2002scheme\u2002are\u2002held\u2002separately\u2002from\u2002those\u2002of\u2002the\u2002Group. Pension\u2002scheme\u2002assets\u2002are\u2002measured\u2002using\u2002market\u2002values.\u2002Pension\u2002scheme\u2002liabilities\u2002are\u2002measured\u2002using\u2002a\u2002projected\u2002unit\u2002method\u2002and\u2002discounted\u2002at\u2002the\u2002current\u2002rate\u2002of\u2002return\u2002on\u2002a\u2002high-quality\u2002corporate\u2002bond\u2002of\u2002equivalent\u2002term\u2002and\u2002currency\u2002to\u2002the\u2002liability.\u2002The\u2002liability\u2002or\u2002asset\u2002recognised\u2002in\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002in\u2002respect\u2002of\u2002the\u2002defined\u2002benefit\u2002pension\u2002scheme\u2002is\u2002the\u2002difference\u2002between\u2002the\u2002present\u2002value\u2002of\u2002the\u2002defined\u2002benefit\u2002obligations\u2002and\u2002the\u2002fair\u2002value\u2002of\u2002scheme\u2002assets\u2002at\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002date.\u2002An\u2002asset\u2002is\u2002recognised\u2002because\u2002any\u2002surplus\u2002on\u2002the\u2002Costain\u2002Pension\u2002Scheme\u2002would\u2002be\u2002recoverable\u2002by\u2002way\u2002of\u2002a\u2002refund,\u2002as\u2002the\u2002Group\u2002has\u2002the\u2002unconditional\u2002right\u2002to\u2002any\u2002surplus\u2002once\u2002all\u2002the\u2002obligations\u2002of\u2002the\u2002Scheme\u2002have\u2002been\u2002settled. Administration\u2002costs\u2002of\u2002the\u2002scheme\u2002are\u2002recognised\u2002in\u2002the\u2002income\u2002statement.\u2002The\u2002interest\u2002income\u2002or\u2002expense\u2002on\u2002the\u2002scheme\u2019s\u2002net\u2002assets\u2002or\u2002liabilities\u2002is\u2002included\u2002in\u2002net\u2002finance\u2002income.\u2002Remeasurements\u2002of\u2002the\u2002net\u2002asset\u2002or\u2002liability\u2002are\u2002recognised\u2002in\u2002the\u2002consolidated\u2002statement\u2002of\u2002comprehensive\u2002income. Obligations\u2002for\u2002contributions\u2002to\u2002defined\u2002contribution\u2002pension\u2002plans\u2002are\u2002recognised\u2002as\u2002an\u2002expense\u2002in\u2002the\u2002income\u2002statement\u2002as\u2002incurred. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-376": { "value": "(a)\u2002Financial\u2002assets The\u2002classification\u2002depends\u2002on\u2002the\u2002nature\u2002and\u2002purpose\u2002of\u2002the\u2002financial\u2002asset\u2002and\u2002is\u2002determined\u2002at\u2002the\u2002time\u2002of\u2002initial\u2002recognition. A\u2002financial\u2002asset\u2002is\u2002derecognised\u2002only\u2002when\u2002the\u2002contractual\u2002rights\u2002to\u2002the\u2002cash\u2002flows\u2002from\u2002that\u2002asset\u2002expire,\u2002or\u2002the\u2002financial\u2002asset\u2002and\u2002substantially\u2002all\u2002the\u2002risks\u2002and\u2002rewards\u2002of\u2002ownership\u2002of\u2002the\u2002asset\u2002are\u2002transferred\u2002to\u2002another\u2002entity. Trade\u2002and\u2002other\u2002receivables Trade\u2002and\u2002other\u2002receivables\u2002that\u2002are\u2002financial\u2002assets\u2002do\u2002not\u2002carry\u2002interest\u2002and\u2002are\u2002stated\u2002at\u2002amortised\u2002cost\u2002less\u2002loss\u2002allowances.\u2002Trade\u2002receivables\u2002represent\u2002an\u2002unconditional\u2002right\u2002to\u2002receive\u2002consideration.\u2002Cash\u2002and\u2002cash\u2002equivalents Cash\u2002and\u2002cash\u2002equivalents\u2002comprise\u2002cash\u2002balances\u2002and\u2002call\u2002deposits.\u2002This\u2002policy\u2002applies\u2002to\u2002both\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002and\u2002the\u2002cash\u2002flow\u2002statement. Cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions \u2018Cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions\u2019\u2002comprise\u2002amounts\u2002held\u2002in\u2002trust\u2002accounts\u2002on\u2002behalf\u2002of\u2002certain\u2002customers\u2002and\u2002designated\u2002for\u2002future\u2002payment\u2002to\u2002suppliers. Impairment\u2002of\u2002financial\u2002assets Impairment\u2002of\u2002financial\u2002assets\u2002is\u2002based\u2002on\u2002an\u2002expected\u2002credit\u2002loss\u2002model\u2002applying\u2002the\u2002simplified\u2002approach\u2002permitted\u2002under\u2002IFRS\u20029.\u2002The\u2002Group\u2002calculates\u2002an\u2002allowance\u2002for\u2002credit\u2002losses\u2002based\u2002on\u2002the\u2002nature\u2002of\u2002the\u2002customer,\u2002experience\u2002of\u2002collecting\u2002receivables\u2002from\u2002similar\u2002customers\u2002and\u2002modelling\u2002default\u2002scenarios\u2002and\u2002applying\u2002probabilities\u2002of\u2002such\u2002scenarios. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-404": { "value": "A\u2002financial\u2002asset\u2002is\u2002derecognised\u2002only\u2002when\u2002the\u2002contractual\u2002rights\u2002to\u2002the\u2002cash\u2002flows\u2002from\u2002that\u2002asset\u2002expire,\u2002or\u2002the\u2002financial\u2002asset\u2002and\u2002substantially\u2002all\u2002the\u2002risks\u2002and\u2002rewards\u2002of\u2002ownership\u2002of\u2002the\u2002asset\u2002are\u2002transferred\u2002to\u2002another\u2002entity. Financial\u2002liabilities\u2002are\u2002derecognised\u2002only\u2002when\u2002the\u2002obligations\u2002are\u2002discharged,\u2002cancelled\u2002or\u2002expire. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-405": { "value": "Trade\u2002and\u2002other\u2002receivables Trade\u2002and\u2002other\u2002receivables\u2002that\u2002are\u2002financial\u2002assets\u2002do\u2002not\u2002carry\u2002interest\u2002and\u2002are\u2002stated\u2002at\u2002amortised\u2002cost\u2002less\u2002loss\u2002allowances.\u2002Trade\u2002receivables\u2002represent\u2002an\u2002unconditional\u2002right\u2002to\u2002receive\u2002consideration.\u2002", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-407": { "value": "Cash\u2002and\u2002cash\u2002equivalents Cash\u2002and\u2002cash\u2002equivalents\u2002comprise\u2002cash\u2002balances\u2002and\u2002call\u2002deposits.\u2002This\u2002policy\u2002applies\u2002to\u2002both\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002and\u2002the\u2002cash\u2002flow\u2002statement. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-408": { "value": "Cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions \u2018Cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions\u2019\u2002comprise\u2002amounts\u2002held\u2002in\u2002trust\u2002accounts\u2002on\u2002behalf\u2002of\u2002certain\u2002customers\u2002and\u2002designated\u2002for\u2002future\u2002payment\u2002to\u2002suppliers. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-427": { "value": "Impairment\u2002of\u2002financial\u2002assets Impairment\u2002of\u2002financial\u2002assets\u2002is\u2002based\u2002on\u2002an\u2002expected\u2002credit\u2002loss\u2002model\u2002applying\u2002the\u2002simplified\u2002approach\u2002permitted\u2002under\u2002IFRS\u20029.\u2002The\u2002Group\u2002calculates\u2002an\u2002allowance\u2002for\u2002credit\u2002losses\u2002based\u2002on\u2002the\u2002nature\u2002of\u2002the\u2002customer,\u2002experience\u2002of\u2002collecting\u2002receivables\u2002from\u2002similar\u2002customers\u2002and\u2002modelling\u2002default\u2002scenarios\u2002and\u2002applying\u2002probabilities\u2002of\u2002such\u2002scenarios. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-409": { "value": "(b)\u2002Financial\u2002liabilities Financial\u2002liabilities,\u2002including\u2002borrowings,\u2002are\u2002initially\u2002measured\u2002at\u2002fair\u2002value,\u2002net\u2002of\u2002transaction\u2002costs.\u2002Financial\u2002liabilities\u2002are\u2002subsequently\u2002measured\u2002at\u2002amortised\u2002cost\u2002using\u2002the\u2002effective\u2002interest\u2002method,\u2002with\u2002interest\u2002expense\u2002recognised\u2002on\u2002an\u2002effective\u2002yield\u2002basis. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-377": { "value": "(b)\u2002Financial\u2002liabilities Financial\u2002liabilities,\u2002including\u2002borrowings,\u2002are\u2002initially\u2002measured\u2002at\u2002fair\u2002value,\u2002net\u2002of\u2002transaction\u2002costs.\u2002Financial\u2002liabilities\u2002are\u2002subsequently\u2002measured\u2002at\u2002amortised\u2002cost\u2002using\u2002the\u2002effective\u2002interest\u2002method,\u2002with\u2002interest\u2002expense\u2002recognised\u2002on\u2002an\u2002effective\u2002yield\u2002basis. Financial\u2002liabilities\u2002are\u2002derecognised\u2002only\u2002when\u2002the\u2002obligations\u2002are\u2002discharged,\u2002cancelled\u2002or\u2002expire. Trade\u2002and\u2002other\u2002payables Trade\u2002and\u2002other\u2002payables\u2002that\u2002are\u2002financial\u2002liabilities\u2002are\u2002recognised\u2002initially\u2002at\u2002fair\u2002value\u2002and\u2002subsequently\u2002measured\u2002at\u2002amortised\u2002cost\u2002using\u2002the\u2002effective\u2002interest\u2002method. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-406": { "value": "Trade\u2002and\u2002other\u2002payables Trade\u2002and\u2002other\u2002payables\u2002that\u2002are\u2002financial\u2002liabilities\u2002are\u2002recognised\u2002initially\u2002at\u2002fair\u2002value\u2002and\u2002subsequently\u2002measured\u2002at\u2002amortised\u2002cost\u2002using\u2002the\u2002effective\u2002interest\u2002method. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-378": { "value": "(c)\u2002Fair\u2002value\u2002measurement When\u2002measuring\u2002the\u2002fair\u2002value\u2002of\u2002a\u2002financial\u2002or\u2002non-financial\u2002asset\u2002or\u2002liability,\u2002the\u2002Group\u2002uses\u2002market\u2002observable\u2002data\u2002as\u2002far\u2002as\u2002possible.\u2002Fair\u2002values\u2002are\u2002categorised\u2002into\u2002different\u2002levels,\u2002in\u2002a\u2002fair\u2002value\u2002hierarchy,\u2002based\u2002on\u2002the\u2002inputs\u2002used\u2002in\u2002the\u2002valuation\u2002techniques\u2002as\u2002follows: \u2022 Level\u20021:\u2002Quoted\u2002prices\u2002(unadjusted)\u2002in\u2002active\u2002markets\u2002for\u2002identical\u2002assets\u2002and\u2002liabilities. \u2022 Level\u20022:\u2002Inputs\u2002other\u2002than\u2002quoted\u2002prices\u2002included\u2002within\u2002Level\u20021\u2002that\u2002are\u2002observable\u2002for\u2002the\u2002asset\u2002or\u2002liability,\u2002either\u2002directly\u2002 (i.e.\u2002as\u2002prices)\u2002or\u2002indirectly\u2002(i.e.\u2002derived\u2002from\u2002prices). \u2022 Level\u20023:\u2002Inputs\u2002for\u2002the\u2002asset\u2002or\u2002liability\u2002that\u2002are\u2002not\u2002based\u2002on\u2002observable\u2002market\u2002data\u2002(unobservable\u2002inputs). If\u2002the\u2002inputs\u2002used\u2002to\u2002measure\u2002the\u2002fair\u2002value\u2002of\u2002an\u2002asset\u2002or\u2002liability\u2002might\u2002be\u2002categorised\u2002in\u2002different\u2002levels\u2002of\u2002the\u2002fair\u2002value\u2002hierarchy,\u2002then\u2002the\u2002fair\u2002value\u2002measurement\u2002is\u2002categorised\u2002in\u2002its\u2002entirety\u2002in\u2002the\u2002same\u2002level\u2002of\u2002the\u2002hierarchy\u2002as\u2002the\u2002lowest\u2002level\u2002input\u2002that\u2002is\u2002significant\u2002to\u2002the\u2002entire\u2002measurement. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-343": { "value": "Significant areas of judgement and estimation The\u2002estimates\u2002and\u2002underlying\u2002assumptions\u2002used\u2002in\u2002the\u2002preparation\u2002of\u2002these\u2002financial\u2002statements\u2002are\u2002reviewed\u2002on\u2002an\u2002ongoing\u2002basis.\u2002Revisions\u2002to\u2002accounting\u2002estimates\u2002are\u2002recognised\u2002in\u2002the\u2002period\u2002in\u2002which\u2002the\u2002estimate\u2002is\u2002revised\u2002if\u2002the\u2002revision\u2002affects\u2002only\u2002that\u2002period,\u2002or\u2002in\u2002the\u2002period\u2002of\u2002the\u2002revision\u2002and\u2002future\u2002periods\u2002if\u2002the\u2002revision\u2002affects\u2002both\u2002current\u2002and\u2002future\u2002periods. The\u2002most\u2002critical\u2002accounting\u2002policies\u2002and\u2002significant\u2002areas\u2002of\u2002estimation\u2002and\u2002judgement\u2002arise\u2002from\u2002the\u2002accounting\u2002for\u2002long-term\u2002contracts\u2002under\u2002IFRS\u200215,\u2002\u2018Revenue\u2002from\u2002Contracts\u2002with\u2002Customers\u2019,\u2002specific\u2002provisions,\u2002the\u2002carrying\u2002value\u2002of\u2002goodwill,\u2002the\u2002assumptions\u2002used\u2002in\u2002the\u2002accounting\u2002for\u2002defined\u2002benefit\u2002pension\u2002schemes\u2002under\u2002IAS\u200219,\u2002\u2018Employee\u2002benefits\u2019,\u2002the\u2002recognition\u2002of\u2002deferred\u2002tax\u2002assets\u2002in\u2002relation\u2002to\u2002tax\u2002losses\u2002and\u2002the\u2002items\u2002classified\u2002as\u2002\u2018adjusting\u2002items\u2019. Long-term\u2002contracts The\u2002majority\u2002of\u2002the\u2002Group\u2019s\u2002activities\u2002are\u2002undertaken\u2002via\u2002long-term\u2002contracts\u2002and\u2002IFRS\u200215\u2002requires\u2002the\u2002identification\u2002and\u2002separation\u2002of\u2002individual,\u2002distinct\u2002performance\u2002obligations,\u2002which\u2002are\u2002then\u2002accounted\u2002for\u2002individually.\u2002The\u2002most\u2002common\u2002type\u2002of\u2002contracts\u2002undertaken\u2002by\u2002the\u2002Group\u2002with\u2002multiple\u2002performance\u2002obligations\u2002are\u2002framework\u2002contracts.\u2002In\u2002most\u2002cases,\u2002the\u2002obligations\u2002are\u2002satisfied\u2002over\u2002time\u2002and\u2002estimates\u2002are\u2002made\u2002of\u2002the\u2002total\u2002contract\u2002costs\u2002and\u2002revenues.\u2002In\u2002many\u2002cases,\u2002these\u2002obligations\u2002span\u2002more\u2002than\u2002one\u2002financial\u2002year.\u2002Both\u2002cost\u2002and\u2002revenue\u2002forecasts\u2002may\u2002be\u2002affected\u2002by\u2002a\u2002number\u2002of\u2002uncertainties\u2002that\u2002depend\u2002on\u2002the\u2002outcome\u2002of\u2002future\u2002events\u2002and\u2002may\u2002need\u2002to\u2002be\u2002revised\u2002as\u2002events\u2002unfold\u2002and\u2002uncertainties\u2002are\u2002resolved.\u2002Cost\u2002forecasts\u2002take\u2002into\u2002account\u2002the\u2002expectations\u2002of\u2002work\u2002to\u2002be\u2002undertaken\u2002on\u2002the\u2002contract.\u2002Revenue\u2002forecasts\u2002take\u2002into\u2002account\u2002compensation\u2002events,\u2002variations\u2002and\u2002claims\u2002and\u2002assessments,\u2002for\u2002example,\u2002of\u2002the\u2002impact\u2002of\u2002pain/gain\u2002arrangements\u2002and\u2002disallowed\u2002or\u2002withheld\u2002costs,\u2002to\u2002the\u2002extent\u2002that\u2002the\u2002amounts\u2002the\u2002Group\u2002expects\u2002to\u2002recover\u2002can\u2002be\u2002reliably\u2002estimated\u2002and\u2002are\u2002highly\u2002probable\u2002not\u2002to\u2002reverse. Management\u2002bases\u2002its\u2002estimates\u2002of\u2002costs\u2002and\u2002revenues\u2002and\u2002its\u2002assessment\u2002of\u2002the\u2002expected\u2002outcome\u2002of\u2002each\u2002long-term\u2002contractual\u2002obligation\u2002on\u2002the\u2002latest\u2002available\u2002information.\u2002This\u2002includes\u2002detailed\u2002contract\u2002valuations,\u2002progress\u2002on\u2002discussions\u2002over\u2002compensation\u2002events,\u2002variations\u2002and\u2002claims\u2002with\u2002customers,\u2002progress\u2002against\u2002the\u2002latest\u2002programme\u2002for\u2002completing\u2002the\u2002works,\u2002forecasts\u2002of\u2002the\u2002costs\u2002to\u2002complete\u2002and,\u2002in\u2002certain\u2002cases,\u2002assessments\u2002of\u2002recoveries\u2002from\u2002insurers,\u2002suppliers\u2002and\u2002contractors,\u2002where\u2002these\u2002are\u2002considered\u2002virtually\u2002certain.\u2002Revenue\u2002is\u2002recognised\u2002to\u2002the\u2002extent\u2002that\u2002amounts\u2002forecast\u2002from\u2002compensation\u2002events,\u2002variations\u2002and\u2002claims\u2002are\u2002agreed\u2002or\u2002considered\u2002in\u2002management\u2019s\u2002judgement\u2002highly\u2002probable\u2002to\u2002be\u2002agreed.\u2002There\u2002are\u2002a\u2002small\u2002number\u2002of\u2002material\u2002contracts\u2002where\u2002management\u2002has\u2002been\u2002required\u2002to\u2002make\u2002significant\u2002accounting\u2002estimates\u2002and,\u2002which\u2002result\u2002in\u2002estimation\u2002uncertainty,\u2002as\u2002at\u200231\u2002December\u20022024.\u2002In\u2002relation\u2002to\u2002these\u2002contracts,\u2002the\u2002Group\u2002has\u2002included\u2002estimated\u2002recoveries\u2002with\u2002a\u2002combined\u2002value\u2002of\u2002\u00a38.6m\u2002(2023:\u2002\u00a311.9m),\u2002on\u2002the\u2002basis\u2002that\u2002these\u2002are\u2002considered\u2002highly\u2002probable\u2002not\u2002to\u2002reverse.\u2002However,\u2002there\u2002are\u2002a\u2002range\u2002of\u2002factors\u2002which\u2002will\u2002affect\u2002the\u2002ultimate\u2002outcome\u2002once\u2002these\u2002contracts\u2002are\u2002finalised.\u2002Management\u2002considers\u2002that\u2002the\u2002estimation\u2002uncertainty\u2002in\u2002relation\u2002to\u2002these\u2002contracts\u2002ranges\u2002from\u2002a\u2002potential\u2002upside\u2002of\u2002\u00a311.2m\u2002to\u2002a\u2002downside\u2002of\u2002\u00a38.6m\u2002(2023:\u2002a\u2002potential\u2002upside\u2002of\u2002\u00a329.7m\u2002to\u2002a\u2002downside\u2002of\u2002\u00a311.9m. The\u2002ultimate\u2002financial\u2002impact\u2002of\u2002this\u2002estimation\u2002uncertainty\u2002will\u2002depend,\u2002inter\u2002alia,\u2002on\u2002the\u2002terms\u2002of\u2002the\u2002contract\u2002and\u2002the\u2002interaction\u2002with\u2002incentive\u2002arrangements,\u2002such\u2002as\u2002pain/gain\u2002mechanisms\u2002and\u2002bonus\u2002or\u2002KPI\u2002arrangements,\u2002as\u2002well\u2002as\u2002final\u2002conclusions\u2002regarding\u2002claims\u2002and\u2002compensation\u2002events\u2002and\u2002assessments\u2002of,\u2002for\u2002example,\u2002costs\u2002disallowed\u2002under\u2002the\u2002contract. In\u2002addition,\u2002the\u2002HS2\u2002programme\u2002is\u2002currently\u2002navigating\u2002a\u2002change\u2002in\u2002its\u2002programme\u2002delivery\u2002strategy\u2002with\u2002an\u2002integrated\u2002programme\u2002being\u2002developed\u2002and\u2002work\u2002is\u2002expected\u2002to\u2002commence\u2002on\u2002a\u2002revised\u2002programme\u2002with\u2002the\u2002supply\u2002chain,\u2002including\u2002the\u2002Skanska-Costain-Strabag\u2002Joint\u2002Venture.\u2002Our\u20022024\u2002financial\u2002result\u2002reflects\u2002the\u2002current\u2002contractual\u2002position. The\u2002estimates\u2002of\u2002the\u2002forecast\u2002contract\u2002outcome\u2002and\u2002the\u2002profit\u2002or\u2002loss\u2002earned\u2002to\u2002date\u2002are\u2002updated\u2002regularly\u2002and\u2002significant\u2002changes\u2002are\u2002highlighted\u2002through\u2002established\u2002internal\u2002review\u2002procedures.\u2002The\u2002impact\u2002of\u2002any\u2002change\u2002in\u2002the\u2002accounting\u2002estimates\u2002both\u2002positive\u2002and\u2002negative\u2002is\u2002then\u2002reflected\u2002in\u2002the\u2002financial\u2002statements. While\u2002management\u2002believes\u2002it\u2002has\u2002recorded\u2002positions\u2002that\u2002are\u2002highly\u2002probable\u2002not\u2002to\u2002reverse\u2002on\u2002the\u2002basis\u2002of\u2002existing\u2002facts\u2002and\u2002circumstances,\u2002there\u2002are\u2002uncertain\u2002factors\u2002which\u2002will\u2002impact\u2002the\u2002final\u2002contract\u2002outcome\u2002and\u2002could\u2002give\u2002rise\u2002to\u2002material\u2002adjustments\u2002within\u2002the\u2002next\u2002financial\u2002year.\u2002Given\u2002the\u2002inherent\u2002complexity\u2002and\u2002pervasive\u2002impact\u2002of\u2002the\u2002various\u2002judgements\u2002and\u2002estimates\u2002impacting\u2002revenue,\u2002cost\u2002of\u2002sales\u2002and\u2002related\u2002balance\u2002sheet\u2002amounts,\u2002it\u2002is\u2002not\u2002considered\u2002plausible\u2002to\u2002quantify\u2002the\u2002impact\u2002of\u2002taking\u2002alternative\u2002assessments\u2002on\u2002each\u2002of\u2002these\u2002judgements. Rectification\u2002provision:\u2002Contract\u2002in\u2002the\u2002water\u2002sector In\u20022021,\u2002the\u2002Group\u2002recognised\u2002a\u2002provision\u2002in\u2002respect\u2002of\u2002the\u2002estimated\u2002future\u2002costs\u2002of\u2002expected\u2002rectification\u2002works\u2002required\u2002at\u2002a\u2002customer\u2019s\u2002water\u2002treatment\u2002facility\u2002where\u2002the\u2002Group\u2002had\u2002been\u2002prime\u2002contractor. As\u2002at\u200231\u2002December\u20022022,\u2002after\u2002working\u2002with\u2002designers,\u2002insurers\u2002and\u2002the\u2002customer,\u2002there\u2002was\u2002greater\u2002clarity\u2002as\u2002to\u2002the\u2002scope\u2002and\u2002cost\u2002of\u2002rectification\u2002work\u2002required\u2002and\u2002the\u2002Group\u2019s\u2002best\u2002estimate\u2002of\u2002the\u2002cost\u2002of\u2002the\u2002single\u2002most\u2002likely\u2002rectification\u2002solution\u2002at\u2002this\u2002time\u2002was\u2002\u00a317.0m.\u2002Costs\u2002of\u2002\u00a34.8m\u2002had\u2002been\u2002incurred\u2002at\u2002the\u2002end\u2002of\u20022022,\u2002and\u2002accordingly,\u2002a\u2002provision\u2002of\u2002\u00a312.2m\u2002was\u2002included\u2002in\u2002the\u2002statement\u2002of\u2002financial\u2002position.\u2002A\u2002number\u2002of\u2002assumptions\u2002were\u2002made\u2002in\u2002arriving\u2002at\u2002the\u2002cost\u2002estimate\u2002and\u2002management\u2002considered\u2002that\u2002the\u2002ultimate\u2002cost\u2002would\u2002fall\u2002within\u2002a\u2002range\u2002of\u2002\u00b130%\u2002of\u2002the\u2002estimated\u2002total. As\u2002at\u200231\u2002December\u20022023,\u2002progress\u2002in\u2002design\u2002and\u2002procurement\u2002had\u2002enabled\u2002management\u2002to\u2002validate\u2002the\u2002assessed\u2002programme\u2002and\u2002narrow\u2002estimation\u2002uncertainty\u2002to\u2002a\u2002range\u2002of\u2002-8%/+13%\u2002with\u2002the\u2002revised\u2002estimated\u2002total\u2002cost\u2002being\u2002\u00a319.3m.\u2002Costs\u2002of\u2002\u00a37.7m\u2002had\u2002been\u2002incurred\u2002to\u2002date\u2002and\u2002therefore\u2002the\u2002provision\u2002disclosed\u2002in\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002was\u2002\u00a311.6m. During\u20022024,\u2002the\u2002detailed\u2002design\u2002of\u2002the\u2002solution\u2002has\u2002been\u2002completed\u2002and\u2002works\u2002have\u2002commenced\u2002on\u2002site.\u2002Costs\u2002of\u2002\u00a316.1m\u2002have\u2002been\u2002incurred\u2002to\u2002date\u2002against\u2002a\u2002revised\u2002total\u2002estimated\u2002cost\u2002of\u2002\u00a321.9m,\u2002with\u2002this\u2002increase\u2002predominantly\u2002as\u2002a\u2002result\u2002of\u2002civils\u2002costs\u2002and\u2002delays\u2002in\u2002the\u2002supply\u2002chain.\u2002The\u2002provision\u2002disclosed\u2002in\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002is\u2002therefore\u2002\u00a35.8m.\u2002Work\u2002is\u2002now\u2002due\u2002to\u2002be\u2002completed\u2002in\u20022025.\u2002As\u2002first\u2002reported\u2002in\u20022022,\u2002Costain\u2002has\u2002engaged\u2002with\u2002its\u2002insurers\u2002and\u2002received\u2002confirmation\u2002that\u2002insurance\u2002cover\u2002is\u2002available\u2002and\u2002that\u2002all\u2002reasonable\u2002costs\u2002of\u2002rectification\u2002work\u2002that\u2002are\u2002validly\u2002incurred\u2002will\u2002be\u2002met\u2002by\u2002insurers.\u2002Consistent\u2002with\u2002this,\u2002insurers\u2002continued\u2002to\u2002make\u2002interim\u2002payments\u2002on\u2002account\u2002during\u20022024.\u2002On\u2002this\u2002basis,\u2002management\u2002has\u2002made\u2002a\u2002judgement\u2002that\u2002the\u2002costs\u2002of\u2002rectification,\u2002after\u2002deduction\u2002of\u2002insurers\u2019\u2002excess\u2002and\u2002amounts\u2002already\u2002received\u2002from\u2002insurers,\u2002will\u2002be\u2002recovered.\u2002Accordingly,\u2002an\u2002insurance\u2002receivable\u2002of\u2002\u00a38.8m\u2002is\u2002recognised\u2002in\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002as\u2002a\u2002current\u2002asset\u2002at\u200231\u2002December\u20022024\u2002in\u2002accordance\u2002with\u2002IAS\u200237\u2002on\u2002the\u2002basis\u2002that\u2002recovery\u2002is\u2002considered\u2002virtually\u2002certain\u2002and\u2002is\u2002expected\u2002in\u20022025.\u2002There\u2002is\u2002a\u2002cap\u2002on\u2002insurance\u2002but\u2002the\u2002cap\u2002is\u2002significantly\u2002in\u2002excess\u2002of\u2002the\u2002cost\u2002estimate.\u2002As\u2002at\u200231\u2002December\u20022023\u2002and\u20022022\u2002respectively,\u2002\u00a312.7m\u2002and\u2002\u00a313.4m\u2002had\u2002been\u2002recognised\u2002as\u2002an\u2002insurance\u2002receivable. Carrying\u2002value\u2002of\u2002goodwill Assessing\u2002the\u2002recoverability\u2002of\u2002the\u2002carrying\u2002value\u2002of\u2002goodwill\u2002recognised\u2002on\u2002acquisition\u2002requires\u2002an\u2002estimation\u2002of\u2002the\u2002value\u2002in\u2002use\u2002of\u2002the\u2002cash\u2002generating\u2002units\u2002to\u2002which\u2002the\u2002goodwill\u2002has\u2002been\u2002allocated.\u2002These\u2002assessments\u2002involve\u2002estimation\u2002and\u2002judgement,\u2002principally\u2002in\u2002respect\u2002of\u2002the\u2002levels\u2002of\u2002operating\u2002margins,\u2002growth\u2002rates\u2002and\u2002future\u2002cash\u2002flows\u2002of\u2002the\u2002cash\u2002generating\u2002units\u2002and\u2002also\u2002include\u2002consideration\u2002of\u2002the\u2002impact\u2002of\u2002potential\u2002sensitivities\u2002in\u2002respect\u2002of\u2002those\u2002assumptions.\u2002The\u2002discount\u2002rates\u2002used\u2002to\u2002calculate\u2002present\u2002values\u2002and,\u2002where\u2002a\u2002reasonable\u2002possible\u2002change\u2002in\u2002assumptions\u2002may\u2002give\u2002rise\u2002to\u2002an\u2002impairment,\u2002related\u2002sensitivities\u2002are\u2002set\u2002out\u2002in\u2002note\u200212. Defined\u2002benefit\u2002pension\u2002scheme Defined\u2002benefit\u2002pension\u2002schemes\u2002require\u2002significant\u2002estimates\u2002in\u2002relation\u2002to\u2002the\u2002assumptions\u2002for\u2002the\u2002discount\u2002rate,\u2002inflation\u2002and\u2002member\u2002longevity\u2002that\u2002underpin\u2002the\u2002valuation.\u2002Each\u2002year\u2002in\u2002selecting\u2002the\u2002appropriate\u2002assumptions,\u2002the\u2002directors\u2002take\u2002advice\u2002from\u2002an\u2002independent\u2002qualified\u2002actuary.\u2002The\u2002assumptions\u2002and\u2002resultant\u2002sensitivities\u2002are\u2002set\u2002out\u2002in\u2002note\u200221. Deferred\u2002tax\u2002Included\u2002in\u2002deferred\u2002tax\u2002assets\u2002is\u2002an\u2002asset\u2002for\u2002tax\u2002losses\u2002recorded\u2002in\u2002current\u2002and\u2002prior\u2002years.\u2002The\u2002asset\u2002is\u2002recognised\u2002on\u2002the\u2002basis\u2002that\u2002the\u2002losses\u2002will\u2002be\u2002used\u2002against\u2002future\u2002taxable\u2002profits\u2002of\u2002the\u2002Group\u2002over\u2002an\u2002estimated\u2002period\u2002of\u2002three\u2002years\u2002(2023:\u2002four\u2002years).\u2002The\u2002significant\u2002judgement\u2002in\u2002assessing\u2002the\u2002recoverability\u2002relates\u2002to\u2002the\u2002ability\u2002of\u2002the\u2002Group\u2002to\u2002achieve\u2002its\u2002taxable\u2002profit\u2002forecasts\u2002and\u2002the\u2002ability\u2002of\u2002these\u2002estimated\u2002numbers\u2002to\u2002withstand\u2002the\u2002application\u2002of\u2002what\u2002the\u2002Board\u2002considers\u2002appropriate\u2002sensitivities.\u2002Details\u2002of\u2002deferred\u2002tax\u2002assets\u2002are\u2002shown\u2002in\u2002note\u20029. Adjusting\u2002items As\u2002described\u2002in\u2002this\u2002note,\u2002management\u2002has\u2002used\u2002judgement\u2002to\u2002determine\u2002the\u2002items\u2002classified\u2002as\u2002\u2018adjusting\u2002items\u2019\u2002as\u2002set\u2002out\u2002in\u2002note\u20023.", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-344": { "value": "3 Reconciliation of reported operating profit to adjusted operating profit \u2019Adjusted\u2002operating\u2002profit\u2019\u2002and\u2002\u2018adjusted\u2002earnings\u2002per\u2002share\u2019\u2002are\u2002presented\u2002as\u2002non-GAAP\u2002alternative\u2002performance\u2002measures.\u2002The\u2002Board\u2002considers\u2002the\u2002adjusted\u2002measures\u2002better\u2002reflect\u2002the\u2002underlying\u2002trading\u2002performance\u2002of\u2002the\u2002Group\u2002for\u2002the\u2002reasons\u2002described\u2002in\u2002note\u20022. The\u2002profit\u2002adjustments\u2002represent\u2002amounts\u2002included\u2002in\u2002the\u2002income\u2002statement. In\u20022024,\u2002Costain\u2002settled\u2002a\u2002fire\u2002safety\u2002compliance\u2002claim\u2002in\u2002relation\u2002to\u2002the\u2002design\u2002and\u2002build\u2002of\u2002a\u2002development\u2002which\u2002completed\u2002in\u20022001.\u2002The\u2002settlement\u2002closes\u2002out\u2002all\u2002known\u2002and\u2002unknown\u2002future\u2002claims\u2002on\u2002the\u2002building.\u2002The\u2002settlement\u2002is\u2002offset\u2002by\u2002a\u2002related\u2002insurance\u2002credit.\u2002A\u2002detailed\u2002review\u2002has\u2002identified\u2002one\u2002other\u2002obligation\u2002on\u2002a\u2002building\u2002completed\u2002in\u20022013;\u2002a\u2002provision\u2002has\u2002been\u2002created\u2002for\u2002this\u2002liability\u2002in\u2002year.\u2002Both\u2002the\u2002net\u2002settlement\u2002and\u2002the\u2002provision\u2002have\u2002been\u2002treated\u2002as\u2002adjusting\u2002items\u2002totalling\u2002\u00a36.7m,\u2002reflecting\u2002that\u2002the\u2002costs\u2002are\u2002not\u2002related\u2002to\u2002Costain\u2019s\u2002normal\u2002course\u2002of\u2002business. \u00a35.4m\u2002was\u2002incurred\u2002on\u2002the\u2002Group\u2019s\u2002Transformation\u2002programme\u2002in\u20022024,\u2002the\u2002final\u2002year\u2002of\u2002the\u2002programme\u2002(2023:\u2002\u00a36.2m)\u2002and\u2002\u00a3nil\u2002(2023:\u2002\u00a31.8m)\u2002of\u2002restructuring\u2002costs. A\u2002\u00a30.1m\u2002credit\u2002has\u2002been\u2002recognised\u2002as\u2002a\u2002result\u2002of\u2002the\u2002sale\u2002of\u2002assets\u2002in\u20022024,\u2002which\u2002were\u2002written\u2002down\u2002to\u2002\u00a3nil\u2002as\u2002part\u2002of\u2002the\u2002restructure\u2002of\u2002the\u2002Group\u2019s\u2002digital\u2002hardware\u2002activities\u2002in\u20022023. In\u20022023,\u2002the\u2002Group\u2002restructured\u2002its\u2002digital\u2002hardware\u2002activities\u2002to\u2002focus\u2002on\u2002service\u2002capabilities.\u2002As\u2002a\u2002result,\u2002the\u2002capitalised\u2002development\u2002costs\u2002of\u2002products\u2002being\u2002developed\u2002under\u2002the\u2002Group\u2019s\u2002manufacturing\u2002capabilities\u2002were\u2002impaired\u2002by\u2002\u00a35.3m\u2002to\u2002\u00a3nil\u2002as\u2002the\u2002Group\u2002had\u2002exited\u2002this\u2002manufacturing. Other Adjusted items Total 2024 \u00a3m \u00a3m \u00a3m Revenue 1,251.1 \u2013 1,251.1 Cost\u2002of\u2002sales (1,147.8) \u2013 (1,147.8) Gross\u2002profit 103.3 \u2013 103.3 Administrative\u2002expenses\u2002before\u2002adjusting\u2002items (60.2) \u2013 (60.2) Adjusting\u2002items: Restructuring\u2002credit \u2013 0.1 0.1 Transformation\u2002costs \u2013 (5.4) (5.4) Fire\u2002safety\u2002claims \u2013 (6.7) (6.7) Administrative\u2002expenses (60.2) (12.0) (72.2) Operating\u2002profit/(loss) 43.1 (12.0) 31.1 Net\u2002finance\u2002income 5.4 \u2013 5.4 Profit/(loss)\u2002before\u2002tax 48.5 (12.0) 36.5 Taxation (8.9) 3.0 (5.9) Profit/(loss)\u2002for\u2002the\u2002year\u2002attributable\u2002to\u2002equity\u2002holders\u2002of\u2002the\u2002Parent 39.6 (9.0) 30.6 Basic\u2002earnings\u2002per\u2002share 14.6p 11.3p Intangible Other Adjusted impairment items Total 2023 \u00a3m \u00a3m \u00a3m \u00a3m Revenue 1,332.0 \u2013 \u2013 1,332.0 Cost\u2002of\u2002sales (1,227.2) \u2013 \u2013 (1,227.2) Gross\u2002profit 104.8 \u2013 \u2013 104.8 Administrative\u2002expenses\u2002before\u2002adjusting\u2002items (64.7) \u2013 \u2013 (64.7) Adjusting\u2002items: Restructuring\u2002costs \u2013 \u2013 (1.8) (1.8) Transformation\u2002costs \u2013 \u2013 (6.2) (6.2) Impairment\u2002of\u2002intangible\u2002asset \u2013 (5.3) \u2013 (5.3) Administrative\u2002expenses (64.7) (5.3) (8.0) (78.0) Operating\u2002profit/(loss) 40.1 (5.3) (8.0) 26.8 Net\u2002finance\u2002income 4.1 \u2013 \u2013 4.1 Profit/(loss)\u2002before\u2002tax 44.2 (5.3) (8.0) 30.9 Taxation (10.7) \u2013 1.9 (8.8) Profit/(loss)\u2002for\u2002the\u2002year\u2002attributable\u2002to\u2002equity\u2002holders\u2002of\u2002the\u2002Parent 33.5 (5.3) (6.1) 22.1 Basic\u2002earnings\u2002per\u2002share 12.2p 8.1p", "dimensions": { "concept": "costaingroupplc:DisclosureOfReconciliationOfReportedOperatingProfitToAdjustedOperatingProfit", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-410": { "value": "
Other
Adjusted items Total
2024 \u00a3m \u00a3m \u00a3m
Revenue
1,251.1
\u2013
1,251.1
Cost\u2002of\u2002sales
(1,147.8)
\u2013
(1,147.8)
Gross\u2002profit
103.3
\u2013
103.3
Administrative\u2002expenses\u2002before\u2002adjusting\u2002items
(60.2)
\u2013
(60.2)
Adjusting\u2002items:
Restructuring\u2002credit
\u2013
0.1
0.1
Transformation\u2002costs
\u2013
(5.4)
(5.4)
Fire\u2002safety\u2002claims
\u2013
(6.7)
(6.7)
Administrative\u2002expenses
(60.2)
(12.0)
(72.2)
Operating\u2002profit/(loss)
43.1
(12.0)
31.1
Net\u2002finance\u2002income
5.4
\u2013
5.4
Profit/(loss)\u2002before\u2002tax
48.5
(12.0)
36.5
Taxation
(8.9)
3.0
(5.9)
Profit/(loss)\u2002for\u2002the\u2002year\u2002attributable\u2002to\u2002equity\u2002holders\u2002of\u2002the\u2002Parent
39.6
(9.0)
30.6
Basic\u2002earnings\u2002per\u2002share
14.6p
11.3p
Intangible Other
Adjusted impairment items Total
2023 \u00a3m \u00a3m \u00a3m \u00a3m
Revenue
1,332.0
\u2013
\u2013
1,332.0
Cost\u2002of\u2002sales
(1,227.2)
\u2013
\u2013
(1,227.2)
Gross\u2002profit
104.8
\u2013
\u2013
104.8
Administrative\u2002expenses\u2002before\u2002adjusting\u2002items
(64.7)
\u2013
\u2013
(64.7)
Adjusting\u2002items:
Restructuring\u2002costs
\u2013
\u2013
(1.8)
(1.8)
Transformation\u2002costs
\u2013
\u2013
(6.2)
(6.2)
Impairment\u2002of\u2002intangible\u2002asset
\u2013
(5.3)
\u2013
(5.3)
Administrative\u2002expenses
(64.7)
(5.3)
(8.0)
(78.0)
Operating\u2002profit/(loss)
40.1
(5.3)
(8.0)
26.8
Net\u2002finance\u2002income
4.1
\u2013
\u2013
4.1
Profit/(loss)\u2002before\u2002tax
44.2
(5.3)
(8.0)
30.9
Taxation
(10.7)
\u2013
1.9
(8.8)
Profit/(loss)\u2002for\u2002the\u2002year\u2002attributable\u2002to\u2002equity\u2002holders\u2002of\u2002the\u2002Parent
33.5
(5.3)
(6.1)
22.1
Basic\u2002earnings\u2002per\u2002share
12.2p
8.1p
", "dimensions": { "concept": "ifrs-full:DisclosureOfProfitLossFromOperatingActivitiesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-345": { "value": "
4 Operating segments
The\u2002Group\u2002has\u2002two\u2002business\u2002segments:\u2002Natural\u2002Resources\u2002and\u2002Transportation.\u2002These\u2002segments\u2002are\u2002strategic\u2002business\u2002units\u2002with\u2002
separate\u2002management\u2002and\u2002have\u2002different\u2002customers\u2002or\u2002offer\u2002different\u2002services.\u2002Segmental\u2002information\u2002is\u2002provided\u2002to\u2002the\u2002chief\u2002executive\u2002
who\u2002is\u2002the\u2002chief\u2002operating\u2002decision\u2002maker.\u2002The\u2002segments\u2002are\u2002discussed\u2002in\u2002the\u2002Strategic\u2002Report\u2002section\u2002of\u2002this\u2002annual\u2002report.\u2002
The\u2002accounting\u2002policies\u2002of\u2002the\u2002operating\u2002segments\u2002are\u2002the\u2002same\u2002as\u2002those\u2002described\u2002in\u2002the\u2002summary\u2002of\u2002material\u2002accounting\u2002policies.\u2002
The\u2002Group\u2002evaluates\u2002segment\u2002performance\u2002on\u2002the\u2002basis\u2002of\u2002profit\u2002or\u2002loss\u2002from\u2002operations\u2002before\u2002interest\u2002and\u2002tax\u2002expense\u2002and\u2002before\u2002
\u2018adjusting\u2002items\u2019.\u2002The\u2002segment\u2002results\u2002that\u2002are\u2002reported\u2002to\u2002the\u2002chief\u2002executive\u2002include\u2002items\u2002directly\u2002attributable\u2002to\u2002a\u2002segment\u2002as\u2002well\u2002as\u2002
those\u2002that\u2002can\u2002be\u2002allocated\u2002on\u2002a\u2002reasonable\u2002basis.\u2002Other\u2002items\u2002are\u2002allocated\u2002to\u2002the\u2002operating\u2002segments\u2002where\u2002appropriate,\u2002but\u2002otherwise\u2002
are\u2002viewed\u2002as\u2002Central\u2002costs.
Intersegment\u2002sales\u2002and\u2002transfers\u2002are\u2002not\u2002material.
Natural Central
Resources Transportation costs Total
2024 \u00a3m \u00a3m \u00a3m \u00a3m
Segment revenue
Total\u2002revenue
405.3
845.8
\u2013
1,251.1
Segment profit/(loss)
Operating\u2002profit/(loss)\u2002before\u2002adjusting\u2002items
23.8
29.9
(10.6)
43.1
Adjusting\u2002items:
Restructuring\u2002credit
\u2013
\u2013
0.1
0.1
Transformation\u2002costs
\u2013
\u2013
(5.4)
(5.4)
Fire\u2002safety\u2002claims
\u2013
\u2013
(6.7)
(6.7)
Profit/(loss) from operations
23.8
29.9
(22.6)
31.1
Net\u2002finance\u2002income
5.4
Profit before tax
36.5
Segment profit/(loss) is stated after charging the following:
Depreciation
4.5
7.4
\u2013
11.9
Amortisation
0.1
0.2
\u2013
0.3
Segment assets
Reportable\u2002segment\u2002assets
144.0
179.1
0.6
323.7
Unallocated\u2002assets:
Retirement\u2002benefit\u2002asset
54.9
Deferred\u2002tax
8.6
Income\u2002tax
1.5
Cash\u2002and\u2002cash\u2002equivalents
158.5
Total assets
547.2
Additions to non-current assets
Property,\u2002plant\u2002and\u2002equipment
12.2
14.6
\u2013
26.8
Intangible\u2002assets
2.7
3.1
\u2013
5.8
Segment liabilities
Reportable\u2002segment\u2002liabilities
125.7
175.5
10.3
311.5
Total liabilities
311.5
Recorded\u2002within\u2002\u2018Reportable\u2002segment\u2002assets\u2019\u2002is\u2002\u2018cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions\u2019\u2002which\u2002represent\u2002amounts\u2002held\u2002in\u2002trust\u2002
bank\u2002accounts\u2002on\u2002behalf\u2002of\u2002certain\u2002customers\u2002and\u2002designated\u2002for\u2002future\u2002payment\u2002to\u2002suppliers.
Natural Central
Resources Transportation costs Total
2023 \u00a3m \u00a3m \u00a3m \u00a3m
Segment revenue
Total\u2002revenue
388.9
943.1
\u2013
1,332.0
Segment profit/(loss)
Operating\u2002profit/(loss)\u2002before\u2002adjusting\u2002items
21.8
28.0
(9.7)
40.1
Adjusting\u2002items:
Restructuring\u2002costs
\u2013
(1.8)
\u2013
(1.8)
Transformation\u2002costs
(0.1)
\u2013
(6.1)
(6.2)
Impairment\u2002of\u2002intangible\u2002asset
\u2013
(5.3)
\u2013
(5.3)
Profit/(loss) from operations
21.7
20.9
(15.8)
26.8
Net\u2002finance\u2002income
4.1
Profit before tax
30.9
Segment profit/(loss) is stated after charging the following:
Depreciation
4.5
10.3
\u2013
14.8
Amortisation\u2002and\u2002impairment
0.2
6.4
\u2013
6.6
Segment assets
Reportable\u2002segment\u2002assets\u2002(as\u2002restated)*
128.1
183.5
0.9
312.5
Unallocated\u2002assets:
Retirement\u2002benefit\u2002asset
53.5
Deferred\u2002tax
11.8
Cash\u2002and\u2002cash\u2002equivalents
164.4
Total assets (as restated)*
542.2
Additions to non-current assets
Property,\u2002plant\u2002and\u2002equipment
4.1
6.1
\u2013
10.2
Intangible\u2002assets
\u2013
0.1
\u2013
0.1
Segment liabilities
Reportable\u2002segment\u2002liabilities\u2002(as\u2002restated)*
98.4
215.2
8.6
322.2
Unallocated\u2002liabilities:
Income\u2002tax
0.6
Total liabilities (as restated)*
322.8
*\u2002 See\u2002note\u200226\u2002for\u2002more\u2002information\u2002on\u2002restatements.
Recorded\u2002within\u2002\u2018Reportable\u2002segment\u2002assets\u2019\u2002is\u2002\u2018cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions\u2019\u2002which\u2002represent\u2002amounts\u2002held\u2002in\u2002trust\u2002
bank\u2002accounts\u2002on\u2002behalf\u2002of\u2002certain\u2002customers\u2002and\u2002designated\u2002for\u2002future\u2002payment\u2002to\u2002suppliers.
Geographical information
Segment\u2002revenue\u2002is\u2002based\u2002on\u2002the\u2002geographical\u2002location\u2002of\u2002customers.\u2002Segment\u2002assets\u2002are\u2002based\u2002on\u2002the\u2002geographical\u2002location\u2002of\u2002the\u2002
assets\u2002and\u2002exclude\u2002deferred\u2002tax\u2002assets.
All\u2002revenue\u2002originates\u2002in\u2002the\u2002UK\u2002(2023:\u2002all)\u2002and\u2002all\u2002non-current\u2002assets\u2002are\u2002located\u2002in\u2002the\u2002UK\u2002(2023:\u2002all).\u2002
Customers accounting for more than 10% of revenue
Two\u2002customers\u2002(2023:\u2002two)\u2002in\u2002the\u2002transportation\u2002sector\u2002accounted\u2002for\u2002revenue\u2002of\u2002\u00a3751.2m\u2002(2023:\u2002\u00a3793.1m).
", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-379": { "value": "The\u2002accounting\u2002policies\u2002of\u2002the\u2002operating\u2002segments\u2002are\u2002the\u2002same\u2002as\u2002those\u2002described\u2002in\u2002the\u2002summary\u2002of\u2002material\u2002accounting\u2002policies.\u2002The\u2002Group\u2002evaluates\u2002segment\u2002performance\u2002on\u2002the\u2002basis\u2002of\u2002profit\u2002or\u2002loss\u2002from\u2002operations\u2002before\u2002interest\u2002and\u2002tax\u2002expense\u2002and\u2002before\u2002\u2018adjusting\u2002items\u2019.\u2002The\u2002segment\u2002results\u2002that\u2002are\u2002reported\u2002to\u2002the\u2002chief\u2002executive\u2002include\u2002items\u2002directly\u2002attributable\u2002to\u2002a\u2002segment\u2002as\u2002well\u2002as\u2002those\u2002that\u2002can\u2002be\u2002allocated\u2002on\u2002a\u2002reasonable\u2002basis.\u2002Other\u2002items\u2002are\u2002allocated\u2002to\u2002the\u2002operating\u2002segments\u2002where\u2002appropriate,\u2002but\u2002otherwise\u2002are\u2002viewed\u2002as\u2002Central\u2002costs. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-381": { "value": "Geographical information Segment\u2002revenue\u2002is\u2002based\u2002on\u2002the\u2002geographical\u2002location\u2002of\u2002customers.\u2002Segment\u2002assets\u2002are\u2002based\u2002on\u2002the\u2002geographical\u2002location\u2002of\u2002the\u2002assets\u2002and\u2002exclude\u2002deferred\u2002tax\u2002assets. All\u2002revenue\u2002originates\u2002in\u2002the\u2002UK\u2002(2023:\u2002all)\u2002and\u2002all\u2002non-current\u2002assets\u2002are\u2002located\u2002in\u2002the\u2002UK\u2002(2023:\u2002all).\u2002", "dimensions": { "concept": "ifrs-full:DisclosureOfGeographicalAreasExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-380": { "value": "Customers accounting for more than 10% of revenue Two\u2002customers\u2002(2023:\u2002two)\u2002in\u2002the\u2002transportation\u2002sector\u2002accounted\u2002for\u2002revenue\u2002of\u2002\u00a3751.2m\u2002(2023:\u2002\u00a3793.1m).", "dimensions": { "concept": "ifrs-full:DisclosureOfSegmentsMajorCustomersExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-444": { "value": "5 Other operating expenses and income
2024 2023
\u00a3m \u00a3m
Profit\u2002before\u2002tax\u2002is\u2002stated\u2002after\u2002charging:\u2002
Amortisation\u2002and\u2002impairment\u2002of\u2002intangible\u2002assets\u2002(note\u200212)
0.3
6.6
Depreciation\u2002of\u2002property,\u2002plant\u2002and\u2002equipment\u2002(note\u200213)
11.9
14.8
Restructuring\u2002costs\u2002(note\u20023)
\u2013
1.8
Transformation\u2002costs\u2002(note\u20023)
5.4
6.2
Fire\u2002safety\u2002claims\u2002(note\u20023)
6.7
\u2013
Expenses\u2002relating\u2002to\u2002short-term\u2002leases\u2002and\u2002leases\u2002of\u2002low-value\u2002assets
42.6
54.8
and\u2002after\u2002crediting:
Restructuring\u2002credit\u2002(note\u20023)
0.1
\u2013
RDEC\u2002grant\u2002income
6.3
5.7
Other\u2002expenses\u2002in\u2002the\u2002income\u2002statement\u2002primarily\u2002relate\u2002to\u2002subcontractor\u2002costs,\u2002materials,\u2002people\u2002costs\u2002and\u2002other\u2002business\u2002operating\u2002costs.\u2002Short-term\u2002leases\u2002mostly\u2002relate\u2002to\u2002the\u2002hiring\u2002of\u2002plant\u2002for\u2002operations\u2002on\u2002construction\u2002sites. Auditors\u2019 remuneration
2024 2023
\u00a3m \u00a3m
Fees\u2002payable\u2002to\u2002the\u2002Group\u2019s\u2002auditors\u2002for\u2002the\u2002audit\u2002of\u2002the\u2002annual\u2002financial\u2002statements
0.2
0.1
Fees\u2002payable\u2002to\u2002the\u2002Group\u2019s\u2002auditors\u2002in\u2002respect\u2002of:
Audit\u2002of\u2002financial\u2002statements\u2002of\u2002subsidiaries\u2002of\u2002the\u2002Company
1.0
1.0
1.2
1.1
An\u2002amount\u2002of\u2002\u00a30.2m\u2002(2023:\u2002\u00a30.2m)\u2002was\u2002paid\u2002to\u2002the\u2002Group\u2019s\u2002auditors\u2002in\u20022024\u2002for\u2002the\u2002independent\u2002review\u2002of\u2002the\u2002interim\u2002results\u2002and\u2002other\u2002non-audit\u2002services. Amounts\u2002paid\u2002to\u2002the\u2002Company\u2019s\u2002auditors\u2002in\u2002respect\u2002of\u2002services\u2002to\u2002the\u2002Company,\u2002other\u2002than\u2002the\u2002audit\u2002of\u2002the\u2002Company\u2019s\u2002financial\u2002statements,\u2002have\u2002not\u2002been\u2002disclosed\u2002as\u2002the\u2002information\u2002is\u2002required\u2002instead\u2002to\u2002be\u2002disclosed\u2002on\u2002a\u2002consolidated\u2002basis.", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-443": { "value": "5 Other operating expenses and income
2024 2023
\u00a3m \u00a3m
Profit\u2002before\u2002tax\u2002is\u2002stated\u2002after\u2002charging:\u2002
Amortisation\u2002and\u2002impairment\u2002of\u2002intangible\u2002assets\u2002(note\u200212)
0.3
6.6
Depreciation\u2002of\u2002property,\u2002plant\u2002and\u2002equipment\u2002(note\u200213)
11.9
14.8
Restructuring\u2002costs\u2002(note\u20023)
\u2013
1.8
Transformation\u2002costs\u2002(note\u20023)
5.4
6.2
Fire\u2002safety\u2002claims\u2002(note\u20023)
6.7
\u2013
Expenses\u2002relating\u2002to\u2002short-term\u2002leases\u2002and\u2002leases\u2002of\u2002low-value\u2002assets
42.6
54.8
and\u2002after\u2002crediting:
Restructuring\u2002credit\u2002(note\u20023)
0.1
\u2013
RDEC\u2002grant\u2002income
6.3
5.7
Other\u2002expenses\u2002in\u2002the\u2002income\u2002statement\u2002primarily\u2002relate\u2002to\u2002subcontractor\u2002costs,\u2002materials,\u2002people\u2002costs\u2002and\u2002other\u2002business\u2002operating\u2002costs.\u2002Short-term\u2002leases\u2002mostly\u2002relate\u2002to\u2002the\u2002hiring\u2002of\u2002plant\u2002for\u2002operations\u2002on\u2002construction\u2002sites. Auditors\u2019 remuneration
2024 2023
\u00a3m \u00a3m
Fees\u2002payable\u2002to\u2002the\u2002Group\u2019s\u2002auditors\u2002for\u2002the\u2002audit\u2002of\u2002the\u2002annual\u2002financial\u2002statements
0.2
0.1
Fees\u2002payable\u2002to\u2002the\u2002Group\u2019s\u2002auditors\u2002in\u2002respect\u2002of:
Audit\u2002of\u2002financial\u2002statements\u2002of\u2002subsidiaries\u2002of\u2002the\u2002Company
1.0
1.0
1.2
1.1
An\u2002amount\u2002of\u2002\u00a30.2m\u2002(2023:\u2002\u00a30.2m)\u2002was\u2002paid\u2002to\u2002the\u2002Group\u2019s\u2002auditors\u2002in\u20022024\u2002for\u2002the\u2002independent\u2002review\u2002of\u2002the\u2002interim\u2002results\u2002and\u2002other\u2002non-audit\u2002services. Amounts\u2002paid\u2002to\u2002the\u2002Company\u2019s\u2002auditors\u2002in\u2002respect\u2002of\u2002services\u2002to\u2002the\u2002Company,\u2002other\u2002than\u2002the\u2002audit\u2002of\u2002the\u2002Company\u2019s\u2002financial\u2002statements,\u2002have\u2002not\u2002been\u2002disclosed\u2002as\u2002the\u2002information\u2002is\u2002required\u2002instead\u2002to\u2002be\u2002disclosed\u2002on\u2002a\u2002consolidated\u2002basis.", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-439": { "value": "5 Other operating expenses and income
2024 2023
\u00a3m \u00a3m
Profit\u2002before\u2002tax\u2002is\u2002stated\u2002after\u2002charging:\u2002
Amortisation\u2002and\u2002impairment\u2002of\u2002intangible\u2002assets\u2002(note\u200212)
0.3
6.6
Depreciation\u2002of\u2002property,\u2002plant\u2002and\u2002equipment\u2002(note\u200213)
11.9
14.8
Restructuring\u2002costs\u2002(note\u20023)
\u2013
1.8
Transformation\u2002costs\u2002(note\u20023)
5.4
6.2
Fire\u2002safety\u2002claims\u2002(note\u20023)
6.7
\u2013
Expenses\u2002relating\u2002to\u2002short-term\u2002leases\u2002and\u2002leases\u2002of\u2002low-value\u2002assets
42.6
54.8
and\u2002after\u2002crediting:
Restructuring\u2002credit\u2002(note\u20023)
0.1
\u2013
RDEC\u2002grant\u2002income
6.3
5.7
Other\u2002expenses\u2002in\u2002the\u2002income\u2002statement\u2002primarily\u2002relate\u2002to\u2002subcontractor\u2002costs,\u2002materials,\u2002people\u2002costs\u2002and\u2002other\u2002business\u2002operating\u2002costs.\u2002Short-term\u2002leases\u2002mostly\u2002relate\u2002to\u2002the\u2002hiring\u2002of\u2002plant\u2002for\u2002operations\u2002on\u2002construction\u2002sites. Auditors\u2019 remuneration
2024 2023
\u00a3m \u00a3m
Fees\u2002payable\u2002to\u2002the\u2002Group\u2019s\u2002auditors\u2002for\u2002the\u2002audit\u2002of\u2002the\u2002annual\u2002financial\u2002statements
0.2
0.1
Fees\u2002payable\u2002to\u2002the\u2002Group\u2019s\u2002auditors\u2002in\u2002respect\u2002of:
Audit\u2002of\u2002financial\u2002statements\u2002of\u2002subsidiaries\u2002of\u2002the\u2002Company
1.0
1.0
1.2
1.1
An\u2002amount\u2002of\u2002\u00a30.2m\u2002(2023:\u2002\u00a30.2m)\u2002was\u2002paid\u2002to\u2002the\u2002Group\u2019s\u2002auditors\u2002in\u20022024\u2002for\u2002the\u2002independent\u2002review\u2002of\u2002the\u2002interim\u2002results\u2002and\u2002other\u2002non-audit\u2002services. Amounts\u2002paid\u2002to\u2002the\u2002Company\u2019s\u2002auditors\u2002in\u2002respect\u2002of\u2002services\u2002to\u2002the\u2002Company,\u2002other\u2002than\u2002the\u2002audit\u2002of\u2002the\u2002Company\u2019s\u2002financial\u2002statements,\u2002have\u2002not\u2002been\u2002disclosed\u2002as\u2002the\u2002information\u2002is\u2002required\u2002instead\u2002to\u2002be\u2002disclosed\u2002on\u2002a\u2002consolidated\u2002basis.", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-411": { "value": "5 Other operating expenses and income
2024 2023
\u00a3m \u00a3m
Profit\u2002before\u2002tax\u2002is\u2002stated\u2002after\u2002charging:\u2002
Amortisation\u2002and\u2002impairment\u2002of\u2002intangible\u2002assets\u2002(note\u200212)
0.3
6.6
Depreciation\u2002of\u2002property,\u2002plant\u2002and\u2002equipment\u2002(note\u200213)
11.9
14.8
Restructuring\u2002costs\u2002(note\u20023)
\u2013
1.8
Transformation\u2002costs\u2002(note\u20023)
5.4
6.2
Fire\u2002safety\u2002claims\u2002(note\u20023)
6.7
\u2013
Expenses\u2002relating\u2002to\u2002short-term\u2002leases\u2002and\u2002leases\u2002of\u2002low-value\u2002assets
42.6
54.8
and\u2002after\u2002crediting:
Restructuring\u2002credit\u2002(note\u20023)
0.1
\u2013
RDEC\u2002grant\u2002income
6.3
5.7
Other\u2002expenses\u2002in\u2002the\u2002income\u2002statement\u2002primarily\u2002relate\u2002to\u2002subcontractor\u2002costs,\u2002materials,\u2002people\u2002costs\u2002and\u2002other\u2002business\u2002operating\u2002costs.\u2002Short-term\u2002leases\u2002mostly\u2002relate\u2002to\u2002the\u2002hiring\u2002of\u2002plant\u2002for\u2002operations\u2002on\u2002construction\u2002sites. Auditors\u2019 remuneration
2024 2023
\u00a3m \u00a3m
Fees\u2002payable\u2002to\u2002the\u2002Group\u2019s\u2002auditors\u2002for\u2002the\u2002audit\u2002of\u2002the\u2002annual\u2002financial\u2002statements
0.2
0.1
Fees\u2002payable\u2002to\u2002the\u2002Group\u2019s\u2002auditors\u2002in\u2002respect\u2002of:
Audit\u2002of\u2002financial\u2002statements\u2002of\u2002subsidiaries\u2002of\u2002the\u2002Company
1.0
1.0
1.2
1.1
An\u2002amount\u2002of\u2002\u00a30.2m\u2002(2023:\u2002\u00a30.2m)\u2002was\u2002paid\u2002to\u2002the\u2002Group\u2019s\u2002auditors\u2002in\u20022024\u2002for\u2002the\u2002independent\u2002review\u2002of\u2002the\u2002interim\u2002results\u2002and\u2002other\u2002non-audit\u2002services. Amounts\u2002paid\u2002to\u2002the\u2002Company\u2019s\u2002auditors\u2002in\u2002respect\u2002of\u2002services\u2002to\u2002the\u2002Company,\u2002other\u2002than\u2002the\u2002audit\u2002of\u2002the\u2002Company\u2019s\u2002financial\u2002statements,\u2002have\u2002not\u2002been\u2002disclosed\u2002as\u2002the\u2002information\u2002is\u2002required\u2002instead\u2002to\u2002be\u2002disclosed\u2002on\u2002a\u2002consolidated\u2002basis.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-382": { "value": "5 Other operating expenses and income
2024 2023
\u00a3m \u00a3m
Profit\u2002before\u2002tax\u2002is\u2002stated\u2002after\u2002charging:\u2002
Amortisation\u2002and\u2002impairment\u2002of\u2002intangible\u2002assets\u2002(note\u200212)
0.3
6.6
Depreciation\u2002of\u2002property,\u2002plant\u2002and\u2002equipment\u2002(note\u200213)
11.9
14.8
Restructuring\u2002costs\u2002(note\u20023)
\u2013
1.8
Transformation\u2002costs\u2002(note\u20023)
5.4
6.2
Fire\u2002safety\u2002claims\u2002(note\u20023)
6.7
\u2013
Expenses\u2002relating\u2002to\u2002short-term\u2002leases\u2002and\u2002leases\u2002of\u2002low-value\u2002assets
42.6
54.8
and\u2002after\u2002crediting:
Restructuring\u2002credit\u2002(note\u20023)
0.1
\u2013
RDEC\u2002grant\u2002income
6.3
5.7
Other\u2002expenses\u2002in\u2002the\u2002income\u2002statement\u2002primarily\u2002relate\u2002to\u2002subcontractor\u2002costs,\u2002materials,\u2002people\u2002costs\u2002and\u2002other\u2002business\u2002operating\u2002costs.\u2002Short-term\u2002leases\u2002mostly\u2002relate\u2002to\u2002the\u2002hiring\u2002of\u2002plant\u2002for\u2002operations\u2002on\u2002construction\u2002sites. Auditors\u2019 remuneration
2024 2023
\u00a3m \u00a3m
Fees\u2002payable\u2002to\u2002the\u2002Group\u2019s\u2002auditors\u2002for\u2002the\u2002audit\u2002of\u2002the\u2002annual\u2002financial\u2002statements
0.2
0.1
Fees\u2002payable\u2002to\u2002the\u2002Group\u2019s\u2002auditors\u2002in\u2002respect\u2002of:
Audit\u2002of\u2002financial\u2002statements\u2002of\u2002subsidiaries\u2002of\u2002the\u2002Company
1.0
1.0
1.2
1.1
An\u2002amount\u2002of\u2002\u00a30.2m\u2002(2023:\u2002\u00a30.2m)\u2002was\u2002paid\u2002to\u2002the\u2002Group\u2019s\u2002auditors\u2002in\u20022024\u2002for\u2002the\u2002independent\u2002review\u2002of\u2002the\u2002interim\u2002results\u2002and\u2002other\u2002non-audit\u2002services. Amounts\u2002paid\u2002to\u2002the\u2002Company\u2019s\u2002auditors\u2002in\u2002respect\u2002of\u2002services\u2002to\u2002the\u2002Company,\u2002other\u2002than\u2002the\u2002audit\u2002of\u2002the\u2002Company\u2019s\u2002financial\u2002statements,\u2002have\u2002not\u2002been\u2002disclosed\u2002as\u2002the\u2002information\u2002is\u2002required\u2002instead\u2002to\u2002be\u2002disclosed\u2002on\u2002a\u2002consolidated\u2002basis.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-346": { "value": "5 Other operating expenses and income
2024 2023
\u00a3m \u00a3m
Profit\u2002before\u2002tax\u2002is\u2002stated\u2002after\u2002charging:\u2002
Amortisation\u2002and\u2002impairment\u2002of\u2002intangible\u2002assets\u2002(note\u200212)
0.3
6.6
Depreciation\u2002of\u2002property,\u2002plant\u2002and\u2002equipment\u2002(note\u200213)
11.9
14.8
Restructuring\u2002costs\u2002(note\u20023)
\u2013
1.8
Transformation\u2002costs\u2002(note\u20023)
5.4
6.2
Fire\u2002safety\u2002claims\u2002(note\u20023)
6.7
\u2013
Expenses\u2002relating\u2002to\u2002short-term\u2002leases\u2002and\u2002leases\u2002of\u2002low-value\u2002assets
42.6
54.8
and\u2002after\u2002crediting:
Restructuring\u2002credit\u2002(note\u20023)
0.1
\u2013
RDEC\u2002grant\u2002income
6.3
5.7
Other\u2002expenses\u2002in\u2002the\u2002income\u2002statement\u2002primarily\u2002relate\u2002to\u2002subcontractor\u2002costs,\u2002materials,\u2002people\u2002costs\u2002and\u2002other\u2002business\u2002operating\u2002costs.\u2002Short-term\u2002leases\u2002mostly\u2002relate\u2002to\u2002the\u2002hiring\u2002of\u2002plant\u2002for\u2002operations\u2002on\u2002construction\u2002sites. Auditors\u2019 remuneration
2024 2023
\u00a3m \u00a3m
Fees\u2002payable\u2002to\u2002the\u2002Group\u2019s\u2002auditors\u2002for\u2002the\u2002audit\u2002of\u2002the\u2002annual\u2002financial\u2002statements
0.2
0.1
Fees\u2002payable\u2002to\u2002the\u2002Group\u2019s\u2002auditors\u2002in\u2002respect\u2002of:
Audit\u2002of\u2002financial\u2002statements\u2002of\u2002subsidiaries\u2002of\u2002the\u2002Company
1.0
1.0
1.2
1.1
An\u2002amount\u2002of\u2002\u00a30.2m\u2002(2023:\u2002\u00a30.2m)\u2002was\u2002paid\u2002to\u2002the\u2002Group\u2019s\u2002auditors\u2002in\u20022024\u2002for\u2002the\u2002independent\u2002review\u2002of\u2002the\u2002interim\u2002results\u2002and\u2002other\u2002non-audit\u2002services. Amounts\u2002paid\u2002to\u2002the\u2002Company\u2019s\u2002auditors\u2002in\u2002respect\u2002of\u2002services\u2002to\u2002the\u2002Company,\u2002other\u2002than\u2002the\u2002audit\u2002of\u2002the\u2002Company\u2019s\u2002financial\u2002statements,\u2002have\u2002not\u2002been\u2002disclosed\u2002as\u2002the\u2002information\u2002is\u2002required\u2002instead\u2002to\u2002be\u2002disclosed\u2002on\u2002a\u2002consolidated\u2002basis.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-428": { "value": "
2024 2023
\u00a3m \u00a3m
Profit\u2002before\u2002tax\u2002is\u2002stated\u2002after\u2002charging:\u2002
Amortisation\u2002and\u2002impairment\u2002of\u2002intangible\u2002assets\u2002(note\u200212)
0.3
6.6
Depreciation\u2002of\u2002property,\u2002plant\u2002and\u2002equipment\u2002(note\u200213)
11.9
14.8
Restructuring\u2002costs\u2002(note\u20023)
\u2013
1.8
Transformation\u2002costs\u2002(note\u20023)
5.4
6.2
Fire\u2002safety\u2002claims\u2002(note\u20023)
6.7
\u2013
Expenses\u2002relating\u2002to\u2002short-term\u2002leases\u2002and\u2002leases\u2002of\u2002low-value\u2002assets
42.6
54.8
and\u2002after\u2002crediting:
Restructuring\u2002credit\u2002(note\u20023)
0.1
\u2013
RDEC\u2002grant\u2002income
6.3
5.7
", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-435": { "value": "
2024 2023
\u00a3m \u00a3m
Profit\u2002before\u2002tax\u2002is\u2002stated\u2002after\u2002charging:\u2002
Amortisation\u2002and\u2002impairment\u2002of\u2002intangible\u2002assets\u2002(note\u200212)
0.3
6.6
Depreciation\u2002of\u2002property,\u2002plant\u2002and\u2002equipment\u2002(note\u200213)
11.9
14.8
Restructuring\u2002costs\u2002(note\u20023)
\u2013
1.8
Transformation\u2002costs\u2002(note\u20023)
5.4
6.2
Fire\u2002safety\u2002claims\u2002(note\u20023)
6.7
\u2013
Expenses\u2002relating\u2002to\u2002short-term\u2002leases\u2002and\u2002leases\u2002of\u2002low-value\u2002assets
42.6
54.8
and\u2002after\u2002crediting:
Restructuring\u2002credit\u2002(note\u20023)
0.1
\u2013
RDEC\u2002grant\u2002income
6.3
5.7
", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-429": { "value": "
Auditors\u2019 remuneration
2024 2023
\u00a3m \u00a3m
Fees\u2002payable\u2002to\u2002the\u2002Group\u2019s\u2002auditors\u2002for\u2002the\u2002audit\u2002of\u2002the\u2002annual\u2002financial\u2002statements
0.2
0.1
Fees\u2002payable\u2002to\u2002the\u2002Group\u2019s\u2002auditors\u2002in\u2002respect\u2002of:
Audit\u2002of\u2002financial\u2002statements\u2002of\u2002subsidiaries\u2002of\u2002the\u2002Company
1.0
1.0
1.2
1.1
An\u2002amount\u2002of\u2002\u00a30.2m\u2002(2023:\u2002\u00a30.2m)\u2002was\u2002paid\u2002to\u2002the\u2002Group\u2019s\u2002auditors\u2002in\u20022024\u2002for\u2002the\u2002independent\u2002review\u2002of\u2002the\u2002interim\u2002results\u2002and\u2002other\u2002
non-audit\u2002services.
Amounts\u2002paid\u2002to\u2002the\u2002Company\u2019s\u2002auditors\u2002in\u2002respect\u2002of\u2002services\u2002to\u2002the\u2002Company,\u2002other\u2002than\u2002the\u2002audit\u2002of\u2002the\u2002Company\u2019s\u2002financial\u2002
statements,\u2002have\u2002not\u2002been\u2002disclosed\u2002as\u2002the\u2002information\u2002is\u2002required\u2002instead\u2002to\u2002be\u2002disclosed\u2002on\u2002a\u2002consolidated\u2002basis.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-347": { "value": "
6 Employee benefit expense
2024 2023
\u00a3m \u00a3m
Wages\u2002and\u2002salaries
233.3
235.9
Social\u2002security\u2002costs
25.6
25.7
Other\u2002pension\u2002costs\u2002\u2013\u2002defined\u2002contribution\u2002schemes\u2002(note\u200221)
12.9
12.6
Share-based\u2002payments\u2002expense\u2002(note\u200221)
2.3
2.2
274.1
276.4
2024 2023
Number Number
Monthly average number of persons employed
Natural\u2002Resources
1,608
1,620
Transportation
1,551
1,753
Central
23
21
3,182
3,394
Of\u2002the\u2002above\u2002employees\u2002there\u2002were\u2002none\u2002employed\u2002overseas\u2002(2023:\u2002one\u2002was\u2002employed\u2002overseas).
21 Employee benefits
Pensions
The\u2002Group\u2002operates\u2002a\u2002defined\u2002benefit\u2002pension\u2002scheme\u2002in\u2002the\u2002UK;\u2002contributions\u2002are\u2002paid\u2002by\u2002subsidiary\u2002undertakings.\u2002There\u2002are\u2002also\u2002
two\u2002defined\u2002contribution\u2002pension\u2002schemes\u2002in\u2002place\u2002in\u2002the\u2002UK,\u2002to\u2002which\u2002contributions\u2002are\u2002made\u2002by\u2002both\u2002subsidiary\u2002undertakings\u2002and\u2002
employees.\u2002The\u2002total\u2002pension\u2002charge\u2002in\u2002the\u2002income\u2002statement\u2002is\u2002\u00a312.2m,\u2002comprising\u2002\u00a314.8m\u2002included\u2002in\u2002operating\u2002costs\u2002less\u2002\u00a32.6m\u2002
interest\u2002income\u2002included\u2002in\u2002net\u2002finance\u2002income\u2002(2023:\u2002\u00a311.4m,\u2002comprising\u2002\u00a314.6m\u2002included\u2002in\u2002operating\u2002costs\u2002less\u2002\u00a33.2m\u2002interest\u2002income\u2002
included\u2002in\u2002net\u2002finance\u2002income).
Defined\u2002benefit\u2002scheme
The\u2002defined\u2002benefit\u2002scheme\u2002was\u2002closed\u2002to\u2002new\u2002members\u2002on\u200231\u2002May\u20022005\u2002and\u2002from\u20021\u2002April\u20022006,\u2002future\u2002benefits\u2002were\u2002calculated\u2002on\u2002
a\u2002Career\u2002Average\u2002Revalued\u2002Earnings\u2002basis.\u2002The\u2002scheme\u2002was\u2002closed\u2002to\u2002future\u2002accrual\u2002of\u2002benefits\u2002to\u2002members\u2002on\u200230\u2002September\u20022009.\u2002
A\u2002full\u2002actuarial\u2002valuation\u2002of\u2002the\u2002scheme\u2002was\u2002carried\u2002out\u2002as\u2002at\u200231\u2002March\u20022022\u2002and\u2002this\u2002was\u2002updated\u2002to\u200231\u2002December\u20022024\u2002by\u2002a\u2002qualified\u2002
independent\u2002actuary.\u2002At\u200231\u2002December\u20022024,\u2002there\u2002were\u20022,886\u2002retirees\u2002and\u20022,601\u2002deferred\u2002members\u2002(2023\u2002(restated):\u20022,886\u2002retirees\u2002
and\u20022,601\u2002deferred\u2002members).\u2002In\u2002previous\u2002annual\u2002reports,\u2002Costain\u2002has\u2002reported\u2002the\u2002actual\u2002number\u2002of\u2002retirees\u2002and\u2002deferred\u2002members\u2002as\u2002
provided\u2002by\u2002its\u2002administrator;\u2002however,\u2002as\u2002per\u2002IAS\u200219,\u2002the\u2002number\u2002of\u2002retirees\u2002and\u2002deferred\u2002members\u2002used\u2002in\u2002the\u2002IAS\u200219\u2002calculation\u2002should\u2002
be\u2002reported\u2002and\u2002therefore\u2002Costain\u2002has\u2002restated\u2002the\u20022023\u2002comparatives.\u2002The\u2002number\u2002now\u2002reported\u2002represents\u2002membership\u2002data\u2002taken\u2002
from\u2002the\u2002March\u20022022\u2002triennial\u2002valuation;\u2002it\u2002is\u2002not\u2002rolled\u2002forward\u2002in\u2002the\u2002IAS\u200219\u2002calculations.\u2002
The\u2002weighted\u2002average\u2002duration\u2002of\u2002the\u2002obligations\u2002is\u200211.0\u2002years\u2002(2023:\u200211.9\u2002years).
2024 2023 2022
\u00a3m \u00a3m \u00a3m
Present\u2002value\u2002of\u2002defined\u2002benefit\u2002obligations
(497.5)
(542.6)
(527.1)
Fair\u2002value\u2002of\u2002scheme\u2002assets
552.4
596.1
587.3
Recognised\u2002asset\u2002for\u2002defined\u2002benefit\u2002obligations
54.9
53.5
60.2
2024 2023
Movements in present value of defined benefit obligations \u00a3m \u00a3m
At\u20021\u2002January
542.6
527.1
Interest\u2002cost
25.0
25.5
Remeasurements\u2002\u2013\u2002demographic\u2002assumptions
0.5
(1.0)
Remeasurements\u2002\u2013\u2002financial\u2002assumptions
(41.0)
14.8
Remeasurements\u2002\u2013\u2002experience\u2002adjustments
3.7
10.5
Benefits\u2002paid
(33.3)
(34.3)
At 31 December
497.5
542.6
2024 2023
Movements in fair value of scheme assets \u00a3m \u00a3m
At\u20021\u2002January
596.1
587.3
Interest\u2002income
27.6
28.7
Remeasurements\u2002\u2013\u2002return\u2002on\u2002assets
(39.9)
6.5
Contributions\u2002by\u2002employer
2.0
8.1
Administrative\u2002expenses
(0.1)
(0.2)
Benefits\u2002paid
(33.3)
(34.3)
At 31 December
552.4
596.1
2024 2023
Expense recognised in the income statement \u00a3m \u00a3m
Administrative\u2002expenses\u2002paid\u2002by\u2002the\u2002pension\u2002scheme
(0.1)
(0.2)
Administrative\u2002expenses\u2002paid\u2002directly\u2002by\u2002the\u2002Group
(1.8)
(1.8)
Interest\u2002income\u2002on\u2002the\u2002net\u2002assets\u2002of\u2002the\u2002defined\u2002benefit\u2002pension\u2002scheme
2.6
3.2
0.7
1.2
2024 2023
Fair value of scheme assets \u00a3m \u00a3m
Global\u2002equities
90.0
99.5
Multi-asset\u2002growth\u2002funds
20.7
65.9
Multi-credit\u2002fund
83.8
96.6
LDI\u2002plus\u2002collateral
339.7
323.8
Cash
18.2
10.3
552.4
596.1
All\u2002equities\u2002are\u2002quoted\u2002securities.\u2002The\u2002multi-asset\u2002growth\u2002funds\u2002comprise\u2002portfolios\u2002of\u2002quoted\u2002and\u2002unquoted\u2002investments.\u2002The\u2002multi-credit\u2002
fund\u2002invests\u2002in\u2002a\u2002portfolio\u2002of\u2002primarily\u2002floating\u2002rate\u2002debt\u2002of\u2002non-investment\u2002grade\u2002or\u2002unrated\u2002borrowers.\u2002The\u2002Liability\u2002Driven\u2002Investments\u2002
(LDI)\u2002portfolio\u2002comprises\u2002gilts,\u2002repurchase\u2002agreements\u2002and\u2002swaps\u2002and\u2002is\u2002supported\u2002by\u2002a\u2002liquid\u2002absolute\u2002return\u2002fund\u2002providing\u2002collateral.
Quoted\u2002equities\u2002are\u2002valued\u2002at\u2002the\u2002prevailing\u2002bid,\u2002offer\u2002or\u2002middle\u2002market\u2002stock\u2002exchange\u2002or\u2002over-the-counter\u2002market\u2002prices.\u2002In\u2002the\u2002
multi-asset\u2002growth\u2002funds,\u2002the\u2002fair\u2002values\u2002of\u2002the\u2002underlying\u2002unquoted\u2002assets\u2002are\u2002determined\u2002by\u2002the\u2002fund\u2002managers\u2002using\u2002quoted\u2002prices\u2002
for\u2002similar\u2002assets\u2002or\u2002other\u2002valuation\u2002techniques\u2002where\u2002all\u2002the\u2002inputs\u2002are\u2002directly\u2002observable\u2002or\u2002indirectly\u2002observable\u2002from\u2002market\u2002data.\u2002
The\u2002loans\u2002in\u2002the\u2002multi-credit\u2002fund\u2002may\u2002be\u2002priced\u2002either\u2002using\u2002quotes\u2002from\u2002a\u2002pricing\u2002vendor\u2002(if\u2002available),\u2002a\u2002broker\u2002or\u2002at\u2002a\u2002level\u2002determined\u2002
by\u2002the\u2002investment\u2002manager\u2002that\u2002is\u2002agreed\u2002with\u2002the\u2002fund.\u2002The\u2002LDI\u2002fund\u2002is\u2002valued\u2002using\u2002a\u2002unit\u2002price\u2002calculated\u2002for\u2002the\u2002fund\u2002based\u2002on\u2002the\u2002
net\u2002asset\u2002value\u2002of\u2002the\u2002underlying\u2002assets.
The\u2002pension\u2002scheme\u2002does\u2002not\u2002have\u2002any\u2002assets\u2002invested\u2002in\u2002the\u2002Group\u2019s\u2002financial\u2002instruments\u2002or\u2002in\u2002property\u2002or\u2002other\u2002assets\u2002used\u2002
by\u2002the\u2002Group.
2024 2023 2022
Principal actuarial assumptions (expressed as weighted averages) % % %
Discount\u2002rate
5.50
4.75
5.00
Future\u2002pension\u2002increases
2.95
2.90
2.90
Inflation\u2002assumption
3.10
3.05
3.10
Weighted\u2002average\u2002life\u2002expectancies\u2002from\u2002age\u200265,\u2002as\u2002per\u2002mortality\u2002tables,\u2002used\u2002to\u2002determine\u2002benefits\u2002at\u200231\u2002December\u20022024\u2002and\u2002
31\u2002December\u20022023\u2002are:
2024
2023
Male Female Male Female
(years) (years) (years) (years)
Currently\u2002aged\u200265
21.9
23.8
22.0
23.8
Non-retirees\u2002currently\u2002aged\u200245
22.9
25.1
22.9
25.1
The\u2002discount\u2002rate,\u2002inflation\u2002and\u2002pension\u2002increase\u2002and\u2002mortality\u2002assumptions\u2002have\u2002a\u2002significant\u2002effect\u2002on\u2002the\u2002amounts\u2002reported.\u2002
Changes\u2002in\u2002these\u2002assumptions\u2002would\u2002have\u2002the\u2002following\u2002effects\u2002on\u2002the\u2002defined\u2002benefit\u2002scheme:
Pension liability Pension cost
\u00a3m \u00a3m
Increasing\u2002the\u2002discount\u2002rate\u2002by\u20020.25%,\u2002decreases\u2002pension\u2002liability\u2002
and\u2002increases\u2002pension\u2002income/reduces\u2002pension\u2002cost\u2002by
Decreasing\u2002inflation\u2002by\u20020.25%\u2002(which\u2002reduces\u2002pension\u2002increases),\u2002decreases
13.4
0.7
pension\u2002liability\u2002and\u2002increases\u2002pension\u2002income/reduces\u2002pension\u2002cost\u2002by
Increasing\u2002life\u2002expectancy\u2002by\u2002one\u2002year,\u2002increases\u2002pension\u2002liability
12.0
0.7
and\u2002reduces\u2002pension\u2002income/increases\u2002pension\u2002cost\u2002by\u2002
16.9
0.9
As\u2002highlighted\u2002in\u2002the\u2002table\u2002above,\u2002the\u2002defined\u2002benefit\u2002scheme\u2002exposes\u2002the\u2002Group\u2002to\u2002actuarial\u2002risks\u2002such\u2002as\u2002longevity,\u2002interest\u2002rate,\u2002
inflation\u2002and\u2002investment\u2002risks.\u2002The\u2002LDI\u2002portfolio\u2002is\u2002designed\u2002to\u2002respond\u2002to\u2002changes\u2002in\u2002gilt\u2002yields\u2002in\u2002a\u2002similar\u2002way\u2002to\u2002a\u2002fixed\u2002proportion\u2002
of\u2002the\u2002liabilities.\u2002With\u2002the\u2002LDI\u2002portfolio,\u2002if\u2002gilt\u2002yields\u2002fall,\u2002the\u2002value\u2002of\u2002the\u2002investments\u2002will\u2002rise\u2002to\u2002help\u2002partially\u2002match\u2002the\u2002increase\u2002in\u2002
the\u2002trustee\u2002valuation\u2002of\u2002the\u2002liabilities\u2002arising\u2002from\u2002a\u2002fall\u2002in\u2002the\u2002gilt\u2002yield-based\u2002discount\u2002rate.\u2002Similarly,\u2002if\u2002gilt\u2002yields\u2002rise,\u2002the\u2002value\u2002of\u2002the\u2002
matching\u2002asset\u2002portfolio\u2002will\u2002fall,\u2002as\u2002will\u2002the\u2002valuation\u2002of\u2002the\u2002liabilities\u2002because\u2002of\u2002an\u2002increase\u2002in\u2002the\u2002discount\u2002rate.\u2002The\u2002leverage\u2002within\u2002
the\u2002LDI\u2002portfolio\u2002means\u2002the\u2002equivalent\u2002of\u200295%\u2002of\u2002the\u2002value\u2002of\u2002the\u2002assets\u2002is\u2002sensitive\u2002to\u2002changes\u2002in\u2002interest\u2002rates\u2002and\u2002inflation\u2002and\u2002this\u2002
mitigates\u2002the\u2002equivalent\u2002movement\u2002in\u2002the\u2002liabilities\u2002of\u2002the\u2002scheme\u2002as\u2002a\u2002whole.\u2002
In\u2002accordance\u2002with\u2002the\u2002pension\u2002regulations,\u2002a\u2002triennial\u2002actuarial\u2002review\u2002of\u2002the\u2002Costain\u2002defined\u2002benefit\u2002pension\u2002scheme\u2002was\u2002carried\u2002out\u2002as\u2002
at\u200231\u2002March\u20022022.\u2002In\u2002June\u20022023,\u2002the\u2002valuation\u2002and\u2002updated\u2002deficit\u2002recovery\u2002plan\u2002were\u2002agreed\u2002with\u2002the\u2002Scheme\u2002Trustee\u2002resulting\u2002in\u2002cash\u2002
contributions\u2002of\u2002\u00a33.3m\u2002for\u2002each\u2002year\u2002commencing\u20021\u2002July\u20022023\u2002(increasing\u2002annually\u2002with\u2002inflation)\u2002until\u2002the\u2002deficit\u2002is\u2002cleared,\u2002which\u2002would\u2002
be\u2002in\u20022027,\u2002on\u2002the\u2002basis\u2002of\u2002the\u2002assumptions\u2002made\u2002in\u2002the\u20022022\u2002valuation\u2002and\u2002agreed\u2002recovery\u2002plan.\u2002As\u2002at\u2002the\u2002annual\u2002review\u2002on\u20021\u2002April\u20022024,\u2002
the\u2002pension\u2002scheme\u2002had\u2002a\u2002surplus\u2002of\u2002101%,\u2002on\u2002the\u2002technical\u2002provisions\u2002basis,\u2002resulting\u2002in\u2002the\u2002Company\u2019s\u2002contributions\u2002stopping\u2002from\u2002
1\u2002July\u20022024\u2002in\u2002accordance\u2002with\u2002the\u2002recovery\u2002plan.\u2002The\u2002next\u2002annual\u2002review\u2002will\u2002be\u2002on\u20021\u2002April\u20022025.
The\u2002next\u2002triennial\u2002actuarial\u2002review\u2002will\u2002be\u2002carried\u2002out\u2002as\u2002at\u200231\u2002March\u20022025\u2002and\u2002completed\u2002by\u2002March\u20022026.
In\u2002addition,\u2002as\u2002previously\u2002implemented,\u2002the\u2002Group\u2002will\u2002continue\u2002to\u2002make\u2002an\u2002additional\u2002contribution\u2002so\u2002that\u2002the\u2002total\u2002deficit\u2002contributions\u2002
match\u2002the\u2002total\u2002dividend\u2002amount\u2002paid\u2002by\u2002the\u2002Company\u2002each\u2002year,\u2002if\u2002required.\u2002As\u2002a\u2002result\u2002of\u2002the\u2002surplus\u2002at\u2002the\u2002annual\u2002review\u2002on\u2002
1\u2002April\u20022024,\u2002\u2018dividend\u2002parity\u2019\u2002was\u2002suspended\u2002for\u2002a\u2002year\u2002also.\u2002Any\u2002additional\u2002payments\u2002in\u2002this\u2002regard\u2002would\u2002have\u2002the\u2002effect\u2002of\u2002reducing\u2002
the\u2002recovery\u2002period\u2002in\u2002the\u2002agreed\u2002plan.\u2002The\u2002Group\u2002will\u2002also\u2002pay\u2002the\u2002expenses\u2002of\u2002administration\u2002in\u2002the\u2002next\u2002financial\u2002year.
Any\u2002surplus\u2002of\u2002deficit\u2002contributions\u2002to\u2002the\u2002Costain\u2002Pension\u2002Scheme\u2002would\u2002be\u2002recoverable\u2002by\u2002way\u2002of\u2002a\u2002refund,\u2002as\u2002the\u2002Group\u2002has\u2002the\u2002
unconditional\u2002right\u2002to\u2002any\u2002surplus\u2002once\u2002all\u2002the\u2002obligations\u2002of\u2002the\u2002Scheme\u2002have\u2002been\u2002settled.\u2002Accordingly,\u2002the\u2002Group\u2002does\u2002not\u2002expect\u2002
to\u2002have\u2002to\u2002make\u2002provision\u2002for\u2002these\u2002additional\u2002contributions\u2002arising\u2002from\u2002this\u2002agreement\u2002in\u2002future\u2002financial\u2002statements.
In\u2002June\u20022023,\u2002the\u2002High\u2002Court\u2002judged\u2002in\u2002the\u2002Virgin\u2002Media\u2002vs\u2002NTL\u2002Pension\u2002Trustee\u2002case\u2002that\u2002certain\u2002amendments\u2002made\u2002to\u2002the\u2002NTL\u2002
Pension\u2002Plan\u2002were\u2002invalid\u2002because\u2002the\u2002scheme\u2019s\u2002actuary\u2002had\u2002not\u2002provided\u2002the\u2002necessary\u2002confirmations\u2002(\u2018Section\u200237\u2002Certificates\u2019).\u2002
The\u2002High\u2002Court\u2019s\u2002decision\u2002has\u2002wider\u2002ranging\u2002implications,\u2002affecting\u2002other\u2002schemes\u2002(such\u2002as\u2002the\u2002Costain\u2002Pension\u2002Scheme)\u2002that\u2002were\u2002
contracted-out\u2002on\u2002a\u2002salary-related\u2002basis,\u2002and\u2002made\u2002amendments\u2002between\u2002April\u20021997\u2002and\u2002April\u20022016.\u2002
The\u2002ruling\u2002was\u2002appealed\u2002and\u2002the\u2002case\u2002was\u2002heard\u2002by\u2002the\u2002Court\u2002of\u2002Appeal\u2002in\u2002June\u20022024.\u2002In\u2002July\u20022024,\u2002the\u2002case\u2002was\u2002upheld\u2002and\u2002the\u2002original\u2002
judgement\u2002stands.\u2002There\u2002is\u2002still\u2002the\u2002potential\u2002for\u2002overriding\u2002government\u2002legislation\u2002to\u2002be\u2002introduced.\u2002As\u2002a\u2002result\u2002the\u2002Company\u2002and\u2002the\u2002
Trustee\u2002of\u2002the\u2002Costain\u2002Pension\u2002Scheme\u2002cannot\u2002at\u2002this\u2002stage\u2002be\u2002certain\u2002of\u2002the\u2002potential\u2002implications\u2002(if\u2002any).\u2002The\u2002Company\u2002and\u2002the\u2002
Trustee\u2002of\u2002the\u2002Costain\u2002Pension\u2002Scheme\u2002will\u2002continue\u2002to\u2002seek\u2002legal\u2002advice\u2002on\u2002the\u2002matter\u2002and\u2002act\u2002accordingly\u2002as\u2002the\u2002situation\u2002evolves.
Defined contribution schemes
Two\u2002defined\u2002contribution\u2002pensions\u2002schemes\u2002are\u2002operated.\u2002The\u2002total\u2002expense\u2002relating\u2002to\u2002these\u2002plans\u2002was\u2002\u00a312.9m\u2002(2023:\u2002\u00a312.6m).
Share-based payments
The\u2002Company\u2002operates\u2002a\u2002number\u2002of\u2002share-based\u2002payment\u2002plans\u2002as\u2002described\u2002below.
Long-Term\u2002Incentive\u2002Plan\u2002(LTIP)
Shareholders\u2002approved\u2002Long-Term\u2002Incentive\u2002Plans\u2002at\u2002the\u20022014\u2002and\u20022023\u2002AGMs\u2002that\u2002allow\u2002for\u2002conditional\u2002awards\u2002with\u2002a\u2002maximum\u2002face\u2002value\u2002
of\u2002up\u2002to\u2002150%\u2002of\u2002base\u2002salary\u2002to\u2002be\u2002awarded.\u2002The\u2002maximum\u2002Costain\u2002has\u2002applied\u2002is\u2002100%\u2002of\u2002base\u2002salary.\u2002Performance\u2002conditions,\u2002such\u2002as\u2002those\u2002
based\u2002on\u2002earnings\u2002per\u2002share\u2002and\u2002Total\u2002Shareholder\u2002Return\u2002(TSR),\u2002are\u2002determined\u2002by\u2002the\u2002Remuneration\u2002Committee\u2002at\u2002the\u2002time\u2002of\u2002grant.
Annual\u2002Incentive\u2002Plan\u2002(AIP)
Executive\u2002directors\u2002and\u2002other\u2002senior\u2002management\u2002are\u2002eligible\u2002to\u2002participate\u2002in\u2002the\u2002Company\u2019s\u2002Annual\u2002Incentive\u2002Plan,\u2002under\u2002which\u2002one\u2002
third\u2002of\u2002the\u2002award\u2002is\u2002deferred\u2002into\u2002shares.\u2002The\u2002total\u2002AIP\u2002award\u2002of\u2002up\u2002to\u2002150%\u2002of\u2002base\u2002salary\u2002has\u2002performance\u2002conditions\u2002based\u2002on\u2002
Group\u2002\u2018adjusted\u2002operating\u2002profit\u2019\u2002and\u2002other\u2002measures.\u2002Financial\u2002metrics\u2002will\u2002comprise\u2002at\u2002least\u200250%\u2002of\u2002AIP\u2002opportunity.\u2002The\u2002share\u2002award\u2002
element\u2002vests\u2002on\u2002the\u2002second\u2002anniversary\u2002of\u2002the\u2002date\u2002of\u2002grant\u2002and\u2002will\u2002be\u2002satisfied\u2002by\u2002shares\u2002purchased\u2002by\u2002a\u2002trust\u2002on\u2002behalf\u2002of\u2002the\u2002
Group.\u2002It\u2002will\u2002not\u2002lead\u2002to\u2002any\u2002dilution\u2002of\u2002shareholder\u2002interest.\u2002Participants\u2002must\u2002be\u2002in\u2002employment\u2002with\u2002the\u2002Company\u2002and\u2002not\u2002under\u2002notice\u2002
of\u2002termination\u2002(either\u2002given\u2002or\u2002received)\u2002on\u2002the\u2002date\u2002of\u2002grant.
Save\u2002As\u2002You\u2002Earn\u2002Scheme\u2002(SAYE)
The\u2002Company\u2002operates\u2002a\u2002SAYE\u2002scheme\u2002that\u2002is\u2002open\u2002to\u2002all\u2002eligible\u2002employees\u2002who\u2002pay\u2002a\u2002fixed\u2002amount\u2002from\u2002salary\u2002into\u2002a\u2002savings\u2002account\u2002
each\u2002month\u2002and\u2002elect\u2002to\u2002save\u2002over\u2002three\u2002years.\u2002At\u2002the\u2002end\u2002of\u2002the\u2002savings\u2002period,\u2002employees\u2002have\u2002six\u2002months\u2002in\u2002which\u2002to\u2002exercise\u2002their\u2002
options\u2002using\u2002the\u2002funds\u2002saved\u2002together\u2002with\u2002any\u2002interest\u2002or\u2002bonus\u2002(after\u2002which\u2002the\u2002options\u2002expire).\u2002If\u2002employees\u2002decide\u2002not\u2002to\u2002exercise\u2002
their\u2002options,\u2002they\u2002may\u2002withdraw\u2002the\u2002funds\u2002saved.\u2002Exercise\u2002of\u2002options\u2002is\u2002subject\u2002to\u2002continued\u2002employment\u2002within\u2002the\u2002Group\u2002(except\u2002
where\u2002permitted\u2002by\u2002the\u2002rules\u2002of\u2002the\u2002scheme).
Share-based\u2002payment\u2002expense
The\u2002amount\u2002recognised\u2002in\u2002the\u2002income\u2002statement,\u2002before\u2002tax,\u2002for\u2002share-based\u2002payment\u2002transactions\u2002with\u2002employees\u2002was\u2002\u00a32.3m\u2002
(2023:\u2002\u00a32.2m);\u2002the\u2002entire\u2002charge\u2002relates\u2002to\u2002subsidiaries.
Options\u2002outstanding\u2002at\u2002the\u2002end\u2002of\u2002the\u2002year
The\u2002movements\u2002in\u2002the\u2002outstanding\u2002LTIPs\u2002(nil-cost\u2002option)\u2002and\u2002AIP\u2002(nil-cost\u2002option),\u2002which\u2002provide\u2002for\u2002the\u2002grant\u2002of\u2002shares\u2002to\u2002executive\u2002
directors\u2002and\u2002senior\u2002management,\u2002and\u2002the\u2002outstanding\u2002SAYE\u2002schemes,\u2002are\u2002shown\u2002below:
LTIP
AIP
SAYE
Weighted average
Number Number Number exercise price
(m) (m) (m) (p)
Outstanding\u2002at\u20021\u2002January\u20022023
12.5
2.3
0.8
118.4
Forfeited\u2002during\u2002the\u2002year
(2.0)
(0.4)
(0.8)
113.8
Exercised\u2002during\u2002the\u2002year
(0.6)
\u2013
\u2013
\u2013
Granted\u2002during\u2002the\u2002year
3.7
1.5
4.9
50.0
Outstanding\u2002at\u200231\u2002December\u20022023
13.6
3.4
4.9
50.0
Outstanding\u2002at\u20021\u2002January\u20022024
13.6
3.4
4.9
50.0
Forfeited\u2002during\u2002the\u2002year
(1.4)
(0.1)
(0.4)
51.1
Exercised\u2002during\u2002the\u2002year
(0.7)
(1.9)
\u2013
50.0
Granted\u2002during\u2002the\u2002year
3.0
1.5
4.0
81.2
Outstanding at 31 December 2024
14.5
2.9
8.5
64.8
Exercisable at the end of the period
2.0
\u2013
\u2013
\u2013
Share\u2002options\u2002outstanding\u2002at\u2002the\u2002end\u2002of\u2002the\u2002year\u2002had\u2002a\u2002weighted\u2002average\u2002remaining\u2002contractual\u2002life\u2002of\u20025.8\u2002years\u2002(2023:\u20024.9\u2002years).
The\u2002fair\u2002value\u2002of\u2002options\u2002granted\u2002is\u2002calculated\u2002using\u2002the\u2002Black-Scholes\u2002option\u2002pricing\u2002model.\u2002The\u2002aggregate\u2002fair\u2002value\u2002of\u2002options\u2002granted\u2002
during\u2002the\u2002year\u2002was\u2002\u00a34.9m\u2002(2023:\u2002\u00a34.8m).\u2002The\u2002assumptions\u2002used\u2002in\u2002valuing\u2002the\u2002grants\u2002were:
2024
2023
Expected\u2002volatility
43.9%
46.0%
Expected\u2002life\u2002(years)
3.5
3.5
Risk-free\u2002interest\u2002rate
3.9%
3.2%
Expected\u2002dividend\u2002yield
1.2%
2.3%
The\u2002expected\u2002volatility\u2002is\u2002based\u2002on\u2002the\u2002historical\u2002share\u2002price\u2002volatility\u2002over\u2002a\u2002term\u2002matching\u2002the\u2002expected\u2002life.\u2002The\u2002expected\u2002life\u2002is\u2002based\u2002
on\u2002management\u2019s\u2002best\u2002estimate\u2002having\u2002regard\u2002to\u2002the\u2002effect\u2002of\u2002non-transferability,\u2002exercise\u2002restrictions\u2002and\u2002behavioural\u2002considerations.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-383": { "value": "6 Employee benefit expense
2024 2023
\u00a3m \u00a3m
Wages\u2002and\u2002salaries
233.3
235.9
Social\u2002security\u2002costs
25.6
25.7
Other\u2002pension\u2002costs\u2002\u2013\u2002defined\u2002contribution\u2002schemes\u2002(note\u200221)
12.9
12.6
Share-based\u2002payments\u2002expense\u2002(note\u200221)
2.3
2.2
274.1
276.4
2024 2023
Number Number
Monthly average number of persons employed
Natural\u2002Resources
1,608
1,620
Transportation
1,551
1,753
Central
23
21
3,182
3,394
Of\u2002the\u2002above\u2002employees\u2002there\u2002were\u2002none\u2002employed\u2002overseas\u2002(2023:\u2002one\u2002was\u2002employed\u2002overseas). ", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-348": { "value": "
7 Remuneration of directors
Details\u2002of\u2002the\u2002directors\u2019\u2002remuneration,\u2002pension\u2002entitlements,\u2002interest\u2002in\u2002the\u2002Long-Term\u2002Incentive\u2002Plans,\u2002Annual\u2002Incentive\u2002Plans\u2002and\u2002share\u2002
options\u2002are\u2002included\u2002in\u2002the\u2002Directors\u2019\u2002Remuneration\u2002report.
For\u2002the\u2002purpose\u2002of\u2002the\u2002disclosure\u2002required\u2002by\u2002Schedule\u20025\u2002to\u2002the\u2002Companies\u2002Act\u20022006,\u2002the\u2002total\u2002aggregate\u2002emoluments\u2002of\u2002the\u2002directors\u2002
in\u2002respect\u2002of\u20022024\u2002and\u20022023\u2002are\u2002detailed\u2002below:
2024 2023
\u00a3m \u00a3m
Remuneration
2.2
2.0
Post-employment\u2002benefits
0.1
0.1
2.3
2.1
Transactions\u2002with\u2002key\u2002management\u2002personnel
Disclosures\u2002related\u2002to\u2002the\u2002remuneration\u2002of\u2002key\u2002management\u2002personnel\u2002as\u2002defined\u2002in\u2002IAS\u200224,\u2002\u2018Related\u2002Party\u2002Disclosures\u2019\u2002are\u2002given\u2002below.\u2002
Key\u2002management\u2002personnel,\u2002as\u2002defined\u2002under\u2002IAS\u200224,\u2002\u2018Related\u2002Party\u2002Disclosures\u2019,\u2002have\u2002been\u2002identified\u2002as\u2002the\u2002Board,\u2002as\u2002the\u2002controls\u2002
operated\u2002by\u2002the\u2002Group\u2002ensure\u2002that\u2002all\u2002key\u2002decisions\u2002are\u2002reserved\u2002for\u2002the\u2002Board.
As\u2002at\u200210\u2002March\u20022025,\u2002the\u2002date\u2002of\u2002signing\u2002this\u2002report,\u2002the\u2002directors\u2002of\u2002the\u2002Company\u2002and\u2002their\u2002immediate\u2002relatives\u2002control\u2002827,985\u2002ordinary\u2002
shares\u2002in\u2002Costain\u2002Group\u2002PLC,\u2002which\u2002expressed\u2002as\u2002a\u2002percentage\u2002of\u2002the\u2002issued\u2002share\u2002capital\u2002is\u20020.31%\u2002(2023:\u20020.14%).
As\u2002announced\u2002on\u200212\u2002March\u20022024,\u2002Mr\u2002Bishoy\u2002Azmy\u2002stepped\u2002down\u2002from\u2002the\u2002Board\u2002as\u2002non-independent,\u2002non-executive\u2002director\u2002
representative\u2002of\u2002the\u2002shareholder\u2002ASGC\u2002with\u2002effect\u2002from\u200231\u2002March\u20022024.\u2002In\u2002September\u20022024,\u2002ASGC\u2002sold\u2002its\u2002total\u2002shareholding\u2002
of\u200241,666,666\u2002shares\u2002in\u2002the\u2002Group.
In\u2002addition\u2002to\u2002their\u2002salaries,\u2002in\u2002respect\u2002of\u2002the\u2002executive\u2002directors\u2002and\u2002executive\u2002officers,\u2002the\u2002Group\u2002provides\u2002non-cash\u2002benefits\u2002and\u2002
contributes\u2002to\u2002defined\u2002contribution\u2002pension\u2002plans.\u2002Executive\u2002directors\u2002and\u2002executive\u2002officers\u2002also\u2002participate\u2002in\u2002the\u2002Group\u2019s\u2002LTIP,\u2002
AIP\u2002and\u2002SAYE\u2002plans,\u2002which\u2002are\u2002detailed\u2002in\u2002note\u200221.
The\u2002compensation\u2002of\u2002key\u2002management\u2002personnel,\u2002including\u2002the\u2002directors,\u2002is\u2002as\u2002follows:
Group
2024 2023
\u00a3m \u00a3m
Directors\u2019\u2002emoluments
1.4
1.3
Executive\u2002officers\u2019\u2002emoluments
2.2
2.0
Post-employment\u2002benefits
0.2
0.1
Termination\u2002benefits
\u2013
0.2
Share-based\u2002payments
2.0
1.5
5.8
5.1
The\u2002above\u2002amounts\u2002are\u2002included\u2002in\u2002employee\u2002benefit\u2002expense\u2002(note\u20026).
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-349": { "value": "
8 Finance income/(expense)
2024 2023
\u00a3m \u00a3m
Interest\u2002income\u2002from\u2002bank\u2002deposits
6.7
4.8
Interest\u2002income\u2002on\u2002the\u2002net\u2002assets\u2002of\u2002the\u2002defined\u2002benefit\u2002pension\u2002scheme\u2002(note\u200221)
2.6
3.2
Finance\u2002income
9.3
8.0
Interest\u2002payable\u2002on\u2002interest\u2002bearing\u2002bank\u2002loans,\u2002borrowings\u2002and\u2002other\u2002similar\u2002charges
(1.4)
(2.3)
Interest\u2002expense\u2002on\u2002lease\u2002liabilities
(2.5)
(1.5)
Other\u2002interest
\u2013
(0.1)
Finance\u2002expense
(3.9)
(3.9)
Net\u2002finance\u2002income
5.4
4.1
Other\u2002similar\u2002charges\u2002includes\u2002arrangement\u2002and\u2002commitment\u2002fees\u2002payable.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-350": { "value": "
9 Taxation
2024 2023
\u00a3m \u00a3m
On profit for the year
UK\u2002corporation\u2002tax\u2002at\u2002statutory\u2002rate\u2002of\u200225.0%\u2002(2023:\u2002blended\u2002rate\u2002of\u200223.5%)
(4.1)
(5.4)
Adjustment\u2002in\u2002respect\u2002of\u2002prior\u2002years
1.0
1.0
Current\u2002tax\u2002charge\u2002for\u2002the\u2002year
(3.1)
(4.4)
Deferred\u2002tax\u2002charge\u2002for\u2002the\u2002current\u2002year
(4.0)
(3.2)
Adjustment\u2002in\u2002respect\u2002of\u2002prior\u2002years
1.2
(1.2)
Deferred\u2002tax\u2002charge\u2002for\u2002the\u2002year
(2.8)
(4.4)
Tax charge in the consolidated income statement
(5.9)
(8.8)
2024 2023
\u00a3m \u00a3m
Tax reconciliation
Profit\u2002before\u2002tax
36.5
30.9
Taxation\u2002at\u200225.0%\u2002(2023:\u200223.5%)
(9.1)
(7.2)
Amounts\u2002qualifying\u2002for\u2002tax\u2002relief\u2002and\u2002disallowed\u2002expenses
1.0
(1.4)
Adjustments\u2002in\u2002respect\u2002of\u2002prior\u2002years
2.2
(0.2)
Tax charge in the consolidated income statement
(5.9)
(8.8)
Effective rate of tax
16.2%
28.5%
The\u2002tax\u2002above\u2002does\u2002not\u2002include\u2002any\u2002amounts\u2002for\u2002equity\u2002accounted\u2002joint\u2002ventures\u2002and\u2002associates,\u2002whose\u2002results\u2002are\u2002disclosed\u2002in\u2002the\u2002
consolidated\u2002income\u2002statement\u2002net\u2002of\u2002tax.
The\u2002current\u2002tax\u2002asset\u2002of\u2002\u00a31.5m\u2002(2023:\u2002\u00a30.6m\u2002liability)\u2002for\u2002the\u2002Group\u2002and\u2002liability\u2002of\u2002\u00a30.2m\u2002(2023:\u2002\u00a3nil)\u2002for\u2002the\u2002Company\u2002represent\u2002the\u2002
amount\u2002of\u2002tax\u2002in\u2002respect\u2002of\u2002all\u2002outstanding\u2002periods\u2002and\u2002include\u2002the\u2002Group\u2019s\u2002best\u2002estimate\u2002of\u2002any\u2002assets\u2002and\u2002liabilities,\u2002where\u2002appropriate.
2024 2023
\u00a3m \u00a3m
Tax in other comprehensive income
Current\u2002tax\u2002\u2013\u2002Retirement\u2002benefit\u2002assets
1.2
2.6
Deferred\u2002tax\u2002\u2013\u2002Retirement\u2002benefit\u2002assets
(0.4)
1.7
Tax credit in other comprehensive income
0.8
4.3
2024 2023
\u00a3m \u00a3m
Deferred tax asset recognised
Accelerated\u2002capital\u2002allowances
1.0
2.2
Short-term\u2002temporary\u2002differences
3.6
1.6
Retirement\u2002benefit\u2002assets
(13.7)
(13.3)
Tax\u2002losses
17.7
21.3
Deferred tax asset
8.6
11.8
Deferred\u2002tax\u2002assets\u2002have\u2002been\u2002calculated\u2002at\u2002the\u2002rate\u2002of\u200225.0%\u2002(2023:\u200225.0%).
Deferred\u2002tax\u2002assets\u2002have\u2002been\u2002recognised\u2002in\u2002respect\u2002of\u2002accumulated\u2002tax\u2002losses\u2002in\u2002the\u2002UK\u2002of\u2002\u00a370.8m\u2002(2023:\u2002\u00a385.3m).\u2002The\u2002deferred\u2002tax\u2002
assets\u2002include\u2002an\u2002amount\u2002of\u2002\u00a317.7m\u2002(2023:\u2002\u00a321.3m)\u2002which\u2002relates\u2002to\u2002these\u2002carried\u2002forward\u2002tax\u2002losses.\u2002These\u2002have\u2002been\u2002recognised\u2002on\u2002
the\u2002basis\u2002that\u2002it\u2002is\u2002expected\u2002that\u2002they\u2002will\u2002be\u2002recoverable\u2002over\u2002an\u2002estimated\u2002period\u2002of\u2002three\u2002years\u2002(2023:\u2002four\u2002years)\u2002using\u2002the\u2002estimated\u2002
future\u2002taxable\u2002income\u2002based\u2002on\u2002the\u2002approved\u2002forecasts\u2002for\u2002the\u2002Group\u2002and\u2002reasonably\u2002likely\u2002estimated\u2002future\u2002profits.\u2002These\u2002losses\u2002can\u2002be\u2002
carried\u2002forward\u2002indefinitely\u2002and\u2002have\u2002no\u2002expiry\u2002date. \u2002
The\u2002Group\u2002is\u2002within\u2002the\u2002scope\u2002of\u2002the\u2002OECD\u2002Pillar\u2002Two\u2002rules\u2002which\u2002implement\u2002a\u2002minimum\u2002effective\u2002tax\u2002rate\u2002of\u200215%\u2002on\u2002profits\u2002of\u2002large\u2002
multinational\u2002groups\u2002in\u2002each\u2002country\u2002in\u2002which\u2002they\u2002operate.\u2002These\u2002rules\u2002were\u2002enacted\u2002in\u2002the\u2002UK\u2002on\u200211\u2002July\u20022023\u2002and\u2002will\u2002apply\u2002to\u2002the\u2002
Group\u2002from\u2002the\u2002financial\u2002year\u2002ended\u200231\u2002December\u20022024\u2002onwards.\u2002The\u2002impact\u2002of\u2002the\u2002rules\u2002is\u2002not\u2002material\u2002to\u2002the\u2002Group\u2002given\u2002the\u2002UK\u2002profile.
The\u2002Group\u2002applies\u2002the\u2002exemption\u2002from\u2002recognising\u2002and\u2002disclosing\u2002information\u2002about\u2002deferred\u2002tax\u2002assets\u2002and\u2002liabilities,\u2002as\u2002provided\u2002in\u2002the\u2002
amendments\u2002to\u2002IAS\u200212\u2002issued\u2002in\u2002May\u20022023.
The\u2002Company\u2002has\u2002no\u2002deferred\u2002tax\u2002asset\u2002(2023:\u2002no)\u2002relating\u2002to\u2002short-term\u2002temporary\u2002differences.
2024 2023
\u00a3m \u00a3m
Analysis of deferred tax movements
At\u20021\u2002January
11.8
14.5
Deferred\u2002tax\u2002in\u2002consolidated\u2002income\u2002statement
Accelerated\u2002capital\u2002allowances
(1.2)
0.1
Short-term\u2002temporary\u2002differences
2.0
(1.6)
Tax\u2002losses
(3.6)
(2.9)
(2.8)
(4.4)
Deferred\u2002tax\u2002in\u2002other\u2002comprehensive\u2002income
Retirement\u2002benefit\u2002assets
(0.4)
1.7
At 31 December
8.6
11.8
Factors that may affect future tax charges
The\u2002corporation\u2002tax\u2002rate\u2002from\u20021\u2002April\u20022023\u2002is\u200225.0%.\u2002No\u2002changes\u2002to\u2002this\u2002rate\u2002have\u2002been\u2002announced\u2002by\u2002the\u2002Government.\u2002Deferred\u2002tax\u2002
balances\u2002in\u2002these\u2002financial\u2002statements\u2002have\u2002therefore\u2002been\u2002calculated\u2002at\u2002the\u2002rate\u2002of\u200225.0%.
Deferred tax assets not recognised
The\u2002Group\u2002and\u2002Company\u2002have\u2002deferred\u2002tax\u2002assets\u2002in\u2002their\u2002UK\u2002operations\u2002that\u2002have\u2002not\u2002been\u2002recognised\u2002at\u2002the\u2002year-end\u2002on\u2002the\u2002basis\u2002
that\u2002their\u2002future\u2002economic\u2002benefits\u2002were\u2002not\u2002assured\u2002at\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002date.
The\u2002following\u2002gross\u2002value\u2002items\u2002are\u2002available\u2002as\u2002deferred\u2002tax\u2002assets:
Group
Company
2024 2023 2024 2023
\u00a3m \u00a3m \u00a3m \u00a3m
Management\u2002expenses\u2002and\u2002charges\u2002incurred\u2002by\u2002Parent\u2002Company
54.4
54.4
54.2
54.2
Capital\u2002losses
270.6
270.6
241.0
241.0
The\u2002current\u2002year\u2002tax\u2002effect\u2002of\u2002claiming\u2002short-term\u2002temporary\u2002differences\u2002and\u2002trading\u2002tax\u2002losses\u2002was\u2002\u00a3nil\u2002(2023:\u2002\u00a3nil)\u2002as\u2002shown\u2002in\u2002the\u2002tax\u2002
reconciliation\u2002above.\u2002
There\u2002are\u2002no\u2002expiry\u2002dates\u2002associated\u2002with\u2002the\u2002deferred\u2002tax\u2002assets\u2002not\u2002recognised.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-384": { "value": "9 Taxation
2024 2023
\u00a3m \u00a3m
On profit for the year
UK\u2002corporation\u2002tax\u2002at\u2002statutory\u2002rate\u2002of\u200225.0%\u2002(2023:\u2002blended\u2002rate\u2002of\u200223.5%)
(4.1)
(5.4)
Adjustment\u2002in\u2002respect\u2002of\u2002prior\u2002years
1.0
1.0
Current\u2002tax\u2002charge\u2002for\u2002the\u2002year
(3.1)
(4.4)
Deferred\u2002tax\u2002charge\u2002for\u2002the\u2002current\u2002year
(4.0)
(3.2)
Adjustment\u2002in\u2002respect\u2002of\u2002prior\u2002years
1.2
(1.2)
Deferred\u2002tax\u2002charge\u2002for\u2002the\u2002year
(2.8)
(4.4)
Tax charge in the consolidated income statement
(5.9)
(8.8)
2024 2023
\u00a3m \u00a3m
Tax reconciliation
Profit\u2002before\u2002tax
36.5
30.9
Taxation\u2002at\u200225.0%\u2002(2023:\u200223.5%)
(9.1)
(7.2)
Amounts\u2002qualifying\u2002for\u2002tax\u2002relief\u2002and\u2002disallowed\u2002expenses
1.0
(1.4)
Adjustments\u2002in\u2002respect\u2002of\u2002prior\u2002years
2.2
(0.2)
Tax charge in the consolidated income statement
(5.9)
(8.8)
Effective rate of tax
16.2%
28.5%
The\u2002tax\u2002above\u2002does\u2002not\u2002include\u2002any\u2002amounts\u2002for\u2002equity\u2002accounted\u2002joint\u2002ventures\u2002and\u2002associates,\u2002whose\u2002results\u2002are\u2002disclosed\u2002in\u2002the\u2002consolidated\u2002income\u2002statement\u2002net\u2002of\u2002tax. The\u2002current\u2002tax\u2002asset\u2002of\u2002\u00a31.5m\u2002(2023:\u2002\u00a30.6m\u2002liability)\u2002for\u2002the\u2002Group\u2002and\u2002liability\u2002of\u2002\u00a30.2m\u2002(2023:\u2002\u00a3nil)\u2002for\u2002the\u2002Company\u2002represent\u2002the\u2002amount\u2002of\u2002tax\u2002in\u2002respect\u2002of\u2002all\u2002outstanding\u2002periods\u2002and\u2002include\u2002the\u2002Group\u2019s\u2002best\u2002estimate\u2002of\u2002any\u2002assets\u2002and\u2002liabilities,\u2002where\u2002appropriate.
2024 2023
\u00a3m \u00a3m
Tax in other comprehensive income
Current\u2002tax\u2002\u2013\u2002Retirement\u2002benefit\u2002assets
1.2
2.6
Deferred\u2002tax\u2002\u2013\u2002Retirement\u2002benefit\u2002assets
(0.4)
1.7
Tax credit in other comprehensive income
0.8
4.3
2024 2023
\u00a3m \u00a3m
Deferred tax asset recognised
Accelerated\u2002capital\u2002allowances
1.0
2.2
Short-term\u2002temporary\u2002differences
3.6
1.6
Retirement\u2002benefit\u2002assets
(13.7)
(13.3)
Tax\u2002losses
17.7
21.3
Deferred tax asset
8.6
11.8
Deferred\u2002tax\u2002assets\u2002have\u2002been\u2002calculated\u2002at\u2002the\u2002rate\u2002of\u200225.0%\u2002(2023:\u200225.0%). Deferred\u2002tax\u2002assets\u2002have\u2002been\u2002recognised\u2002in\u2002respect\u2002of\u2002accumulated\u2002tax\u2002losses\u2002in\u2002the\u2002UK\u2002of\u2002\u00a370.8m\u2002(2023:\u2002\u00a385.3m).\u2002The\u2002deferred\u2002tax\u2002assets\u2002include\u2002an\u2002amount\u2002of\u2002\u00a317.7m\u2002(2023:\u2002\u00a321.3m)\u2002which\u2002relates\u2002to\u2002these\u2002carried\u2002forward\u2002tax\u2002losses.\u2002These\u2002have\u2002been\u2002recognised\u2002on\u2002the\u2002basis\u2002that\u2002it\u2002is\u2002expected\u2002that\u2002they\u2002will\u2002be\u2002recoverable\u2002over\u2002an\u2002estimated\u2002period\u2002of\u2002three\u2002years\u2002(2023:\u2002four\u2002years)\u2002using\u2002the\u2002estimated\u2002future\u2002taxable\u2002income\u2002based\u2002on\u2002the\u2002approved\u2002forecasts\u2002for\u2002the\u2002Group\u2002and\u2002reasonably\u2002likely\u2002estimated\u2002future\u2002profits.\u2002These\u2002losses\u2002can\u2002be\u2002carried\u2002forward\u2002indefinitely\u2002and\u2002have\u2002no\u2002expiry\u2002date. The\u2002Group\u2002is\u2002within\u2002the\u2002scope\u2002of\u2002the\u2002OECD\u2002Pillar\u2002Two\u2002rules\u2002which\u2002implement\u2002a\u2002minimum\u2002effective\u2002tax\u2002rate\u2002of\u200215%\u2002on\u2002profits\u2002of\u2002large\u2002multinational\u2002groups\u2002in\u2002each\u2002country\u2002in\u2002which\u2002they\u2002operate.\u2002These\u2002rules\u2002were\u2002enacted\u2002in\u2002the\u2002UK\u2002on\u200211\u2002July\u20022023\u2002and\u2002will\u2002apply\u2002to\u2002the\u2002Group\u2002from\u2002the\u2002financial\u2002year\u2002ended\u200231\u2002December\u20022024\u2002onwards.\u2002The\u2002impact\u2002of\u2002the\u2002rules\u2002is\u2002not\u2002material\u2002to\u2002the\u2002Group\u2002given\u2002the\u2002UK\u2002profile. The\u2002Group\u2002applies\u2002the\u2002exemption\u2002from\u2002recognising\u2002and\u2002disclosing\u2002information\u2002about\u2002deferred\u2002tax\u2002assets\u2002and\u2002liabilities,\u2002as\u2002provided\u2002in\u2002the\u2002amendments\u2002to\u2002IAS\u200212\u2002issued\u2002in\u2002May\u20022023. The\u2002Company\u2002has\u2002no\u2002deferred\u2002tax\u2002asset\u2002(2023:\u2002no)\u2002relating\u2002to\u2002short-term\u2002temporary\u2002differences.
2024 2023
\u00a3m \u00a3m
Analysis of deferred tax movements
At\u20021\u2002January
11.8
14.5
Deferred\u2002tax\u2002in\u2002consolidated\u2002income\u2002statement
Accelerated\u2002capital\u2002allowances
(1.2)
0.1
Short-term\u2002temporary\u2002differences
2.0
(1.6)
Tax\u2002losses
(3.6)
(2.9)
(2.8)
(4.4)
Deferred\u2002tax\u2002in\u2002other\u2002comprehensive\u2002income
Retirement\u2002benefit\u2002assets
(0.4)
1.7
At 31 December
8.6
11.8
Factors that may affect future tax charges The\u2002corporation\u2002tax\u2002rate\u2002from\u20021\u2002April\u20022023\u2002is\u200225.0%.\u2002No\u2002changes\u2002to\u2002this\u2002rate\u2002have\u2002been\u2002announced\u2002by\u2002the\u2002Government.\u2002Deferred\u2002tax\u2002balances\u2002in\u2002these\u2002financial\u2002statements\u2002have\u2002therefore\u2002been\u2002calculated\u2002at\u2002the\u2002rate\u2002of\u200225.0%. Deferred tax assets not recognised The\u2002Group\u2002and\u2002Company\u2002have\u2002deferred\u2002tax\u2002assets\u2002in\u2002their\u2002UK\u2002operations\u2002that\u2002have\u2002not\u2002been\u2002recognised\u2002at\u2002the\u2002year-end\u2002on\u2002the\u2002basis\u2002that\u2002their\u2002future\u2002economic\u2002benefits\u2002were\u2002not\u2002assured\u2002at\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002date. The\u2002following\u2002gross\u2002value\u2002items\u2002are\u2002available\u2002as\u2002deferred\u2002tax\u2002assets:
Group
Company
2024 2023 2024 2023
\u00a3m \u00a3m \u00a3m \u00a3m
Management\u2002expenses\u2002and\u2002charges\u2002incurred\u2002by\u2002Parent\u2002Company
54.4
54.4
54.2
54.2
Capital\u2002losses
270.6
270.6
241.0
241.0
The\u2002current\u2002year\u2002tax\u2002effect\u2002of\u2002claiming\u2002short-term\u2002temporary\u2002differences\u2002and\u2002trading\u2002tax\u2002losses\u2002was\u2002\u00a3nil\u2002(2023:\u2002\u00a3nil)\u2002as\u2002shown\u2002in\u2002the\u2002tax\u2002reconciliation\u2002above.\u2002There\u2002are\u2002no\u2002expiry\u2002dates\u2002associated\u2002with\u2002the\u2002deferred\u2002tax\u2002assets\u2002not\u2002recognised.", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-352": { "value": "
10 Earnings per share
The\u2002calculation\u2002of\u2002earnings\u2002per\u2002share\u2002is\u2002based\u2002on\u2002profit\u2002of\u2002\u00a330.6m\u2002(2023:\u2002\u00a322.1m)\u2002and\u2002the\u2002number\u2002of\u2002shares\u2002set\u2002out\u2002below.
2024 2023
Number Number
(millions) (millions)
Weighted\u2002average\u2002number\u2002of\u2002ordinary\u2002shares\u2002in\u2002issue\u2002for\u2002basic\u2002earnings\u2002per\u2002share\u2002calculation
271.3
273.6
Dilutive\u2002potential\u2002ordinary\u2002shares\u2002arising\u2002from\u2002employee\u2002share\u2002schemes
3.3
8.5
Weighted\u2002average\u2002number\u2002of\u2002ordinary\u2002shares\u2002in\u2002issue\u2002for\u2002diluted\u2002earnings\u2002per\u2002share\u2002calculation
274.6
282.1
At\u200231\u2002December\u20022024,\u2002nil\u2002options\u2002were\u2002excluded\u2002from\u2002the\u2002weighted\u2002average\u2002number\u2002of\u2002ordinary\u2002shares\u2002calculation\u2002because\u2002they\u2002were\u2002
anti-dilutive\u2002(2023:\u2002nil\u2002options\u2002were\u2002excluded).
", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-351": { "value": "
11 Dividends
Dividend per 2024 2023
share pence \u00a3m \u00a3m
Interim\u2002dividend\u2002for\u2002the\u2002year\u2002ended\u200231\u2002December\u20022023
0.4
\u2013
1.1
Final\u2002dividend\u2002for\u2002the\u2002year\u2002ended\u200231\u2002December\u20022023
0.8
2.2
\u2013
Interim\u2002dividend\u2002for\u2002the\u2002year\u2002ended\u200231\u2002December\u20022024
0.4
1.1
\u2013
Amount\u2002recognised\u2002as\u2002distributions\u2002to\u2002equity\u2002holders\u2002in\u2002the\u2002year
3.3
1.1
Dividends\u2002settled\u2002in\u2002shares
(0.1)
\u2013
Dividends\u2002settled\u2002in\u2002cash
3.2
1.1
An\u2002interim\u2002dividend\u2002of\u20020.4p\u2002per\u2002share\u2002was\u2002paid\u2002for\u2002the\u2002six\u2002months\u2002ended\u200230\u2002June\u20022024.\u2002The\u2002Board\u2002is\u2002proposing\u2002a\u2002final\u2002dividend\u2002
of\u20022.0p\u2002per\u2002share.\u2002The\u2002Board\u2019s\u2002current\u2002policy\u2002for\u2002dividends\u2002is\u2002described\u2002in\u2002note\u200218\u2002a)\u2002Capital\u2002management.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-385": { "value": "11 Dividends
Dividend per 2024 2023
share pence \u00a3m \u00a3m
Interim\u2002dividend\u2002for\u2002the\u2002year\u2002ended\u200231\u2002December\u20022023
0.4
\u2013
1.1
Final\u2002dividend\u2002for\u2002the\u2002year\u2002ended\u200231\u2002December\u20022023
0.8
2.2
\u2013
Interim\u2002dividend\u2002for\u2002the\u2002year\u2002ended\u200231\u2002December\u20022024
0.4
1.1
\u2013
Amount\u2002recognised\u2002as\u2002distributions\u2002to\u2002equity\u2002holders\u2002in\u2002the\u2002year
3.3
1.1
Dividends\u2002settled\u2002in\u2002shares
(0.1)
\u2013
Dividends\u2002settled\u2002in\u2002cash
3.2
1.1
An\u2002interim\u2002dividend\u2002of\u20020.4p\u2002per\u2002share\u2002was\u2002paid\u2002for\u2002the\u2002six\u2002months\u2002ended\u200230\u2002June\u20022024.\u2002The\u2002Board\u2002is\u2002proposing\u2002a\u2002final\u2002dividend\u2002of\u20022.0p\u2002per\u2002share.\u2002The\u2002Board\u2019s\u2002current\u2002policy\u2002for\u2002dividends\u2002is\u2002described\u2002in\u2002note\u200218\u2002a)\u2002Capital\u2002management. 22 Share capital
2024
2023
Number Nominal value Number Nominal value
(millions) \u00a3m (millions) \u00a3m
Issued share capital
Shares\u2002in\u2002issue\u2002at\u2002beginning\u2002of\u2002year\u2002\u2013\u2002
ordinary\u2002shares\u2002of\u200250p\u2002each,\u2002fully\u2002paid
276.7
138.3
275.1
137.5
Issued\u2002in\u2002year\u2002(see\u2002below)
1.8
0.9
1.6
0.8
Nominal\u2002value\u2002reduction
\u2013
(136.4)
\u2013
\u2013
Share\u2002buyback
(9.7)
(0.1)
\u2013
\u2013
Shares\u2002in\u2002issue\u2002at\u2002end\u2002of\u2002year\u2002\u2013\u2002
ordinary\u2002shares\u2002of\u2002one\u2002pence\u2002each\u2002(2023:\u200250p\u2002each),\u2002fully\u2002paid
268.8
2.7
276.7
138.3
The\u2002Company\u2019s\u2002issued\u2002share\u2002capital\u2002comprised\u2002268,766,087\u2002ordinary\u2002shares\u2002of\u2002one\u2002pence\u2002each\u2002as\u2002at\u200231\u2002December\u20022024\u2002(2023:\u2002276,718,885\u2002ordinary\u2002shares\u2002of\u200250\u2002pence\u2002each).\u2002All\u2002shares\u2002rank\u2002pari\u2002passu\u2002regarding\u2002entitlement\u2002to\u2002capital\u2002and\u2002dividends. The\u20022021\u2002LTIP\u2002vested\u2002in\u2002the\u2002year\u2002and\u20021,630,000\u2002shares\u2002were\u2002issued\u2002in\u2002April\u20022024\u2002to\u2002satisfy\u2002this\u2002vesting. A\u2002total\u2002of\u2002136,152\u2002shares\u2002were\u2002issued\u2002under\u2002the\u2002Scrip\u2002Dividend\u2002Scheme\u2002during\u20022024. On\u200217\u2002May\u20022024,\u2002the\u2002Company\u2002reduced\u2002the\u2002nominal\u2002value\u2002of\u2002its\u2002278,348,885\u2002ordinary\u2002shares\u2002in\u2002issue\u2002at\u2002that\u2002date\u2002from\u2002\u00a30.50\u2002to\u2002\u00a30.01.\u2002The\u2002reduction\u2002was\u2002completed\u2002by\u2002subdividing\u2002each\u2002\u00a30.50\u2002ordinary\u2002share\u2002in\u2002issue\u2002into\u2002one\u2002ordinary\u2002share\u2002of\u2002\u00a30.01\u2002and\u2002one\u2002deferred\u2002share\u2002of\u2002\u00a30.49.\u2002All\u2002deferred\u2002shares\u2002were\u2002then\u2002bought\u2002back\u2002for\u2002total\u2002aggregate\u2002consideration\u2002of\u2002\u00a30.01\u2002and\u2002cancelled\u2002on\u200220\u2002May\u20022024.\u2002The\u2002Company\u2019s\u2002issued\u2002ordinary\u2002share\u2002capital\u2002remained\u2002unchanged\u2002immediately\u2002after\u2002the\u2002transaction\u2002and\u2002each\u2002shareholder\u2019s\u2002proportionate\u2002interest\u2002in\u2002the\u2002share\u2002capital\u2002of\u2002the\u2002Company\u2002remained\u2002unchanged.\u2002Aside\u2002from\u2002the\u2002change\u2002in\u2002nominal\u2002value,\u2002the\u2002rights\u2002attaching\u2002to\u2002the\u2002ordinary\u2002shares\u2002(including\u2002voting\u2002and\u2002dividend\u2002rights\u2002and\u2002rights\u2002on\u2002a\u2002return\u2002of\u2002capital)\u2002remained\u2002unchanged. In\u2002August\u20022024,\u2002Costain\u2002announced\u2002an\u2002on-market\u2002share\u2002buyback\u2002programme.\u2002This\u2002programme\u2002was\u2002completed\u2002in\u2002November\u20022024\u2002and\u2002resulted\u2002in\u2002the\u2002purchase\u2002of\u20029,718,950\u2002Ordinary\u2002Shares\u2002in\u2002aggregate\u2002for\u2002cancellation. The\u2002share\u2002options\u2002outstanding\u2002at\u2002the\u2002year-end\u2002are\u2002detailed\u2002in\u2002note\u200221.\u2002Details\u2002of\u2002the\u2002performance\u2002conditions\u2002and\u2002the\u2002options\u2002granted\u2002to\u2002executive\u2002directors\u2002are\u2002given\u2002in\u2002the\u2002Directors\u2019\u2002Remuneration\u2002Report.", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-413": { "value": "0.004", "decimals": 3, "dimensions": { "concept": "costaingroupplc:InterimDividend", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-412": { "value": "0.02", "decimals": 3, "dimensions": { "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-353": { "value": "
12 Intangible assets
Customer Other acquired Other
Goodwill relationships intangibles intangibles Total
Group \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Cost
At\u20021\u2002January\u20022023
54.1
15.4
9.7
16.2
95.4
Additions
\u2013
\u2013
\u2013
0.1
0.1
Disposals
\u2013
\u2013
\u2013
(0.1)
(0.1)
At\u200231\u2002December\u20022023
54.1
15.4
9.7
16.2
95.4
At\u20021\u2002January\u20022024
54.1
15.4
9.7
16.2
95.4
Additions
\u2013
\u2013
\u2013
5.8
5.8
Disposals
\u2013
\u2013
\u2013
(7.6)
(7.6)
At 31 December 2024
54.1
15.4
9.7
14.4
93.6
Accumulated amortisation and impairment
At\u20021\u2002January\u20022023
9.0
15.4
9.7
9.1
43.2
Charge\u2002in\u2002year
\u2013
\u2013
\u2013
1.3
1.3
Impairment\u2002in\u2002year
\u2013
\u2013
\u2013
5.3
5.3
Disposals
\u2013
\u2013
\u2013
(0.1)
(0.1)
At\u200231\u2002December\u20022023
9.0
15.4
9.7
15.6
49.7
At\u20021\u2002January\u20022024
9.0
15.4
9.7
15.6
49.7
Charge\u2002in\u2002year
\u2013
\u2013
\u2013
0.3
0.3
Disposals
\u2013
\u2013
\u2013
(7.6)
(7.6)
At 31 December 2024
9.0
15.4
9.7
8.3
42.4
Net book value
At 31 December 2024
45.1
\u2013
\u2013
6.1
51.2
At\u200231\u2002December\u20022023
45.1
\u2013
\u2013
0.6
45.7
At\u20021\u2002January\u20022023
45.1
\u2013
\u2013
7.1
52.2
Additions\u2002to\u2002Other\u2002intangibles\u2002in\u2002the\u2002year\u2002relate\u2002to\u2002the\u2002investment\u2002in\u2002a\u2002new\u2002HR\u2002system.
For\u2002more\u2002information\u2002on\u2002the\u2002intangible\u2002impairment\u2002in\u20022023,\u2002see\u2002note\u20023.
Goodwill\u2002has\u2002been\u2002allocated\u2002to\u2002the\u2002applicable\u2002cash\u2002generating\u2002units\u2002of\u2002the\u2002Transportation\u2002segment\u2002(\u00a315.5m\u2002(2023:\u2002\u00a315.5m))\u2002and\u2002the\u2002
Natural\u2002Resources\u2002segment\u2002(\u00a329.6m\u2002(2023:\u2002\u00a329.6m)).
As\u2002described\u2002in\u2002note\u20022,\u2002the\u2002Group\u2002reviews\u2002the\u2002value\u2002of\u2002goodwill\u2002and\u2002in\u2002the\u2002absence\u2002of\u2002any\u2002identified\u2002impairment\u2002risks,\u2002tests\u2002are\u2002based\u2002on\u2002
internal\u2002value\u2002in\u2002use\u2002calculations\u2002of\u2002the\u2002cash\u2002generating\u2002unit\u2002(CGU).\u2002The\u2002key\u2002assumptions\u2002for\u2002these\u2002calculations\u2002are:\u2002operating\u2002margins,\u2002
discount\u2002rates\u2002and\u2002growth\u2002rates.
Discount\u2002rates\u2002have\u2002been\u2002estimated\u2002based\u2002on\u2002pre-tax\u2002rates\u2002that\u2002reflect\u2002current\u2002market\u2002assessments\u2002of\u2002the\u2002time\u2002value\u2002of\u2002money\u2002and\u2002the\u2002
risks\u2002specific\u2002to\u2002the\u2002CGU.\u2002The\u2002rate\u2002used\u2002to\u2002discount\u2002the\u2002forecast\u2002cash\u2002flows\u2002for\u2002both\u2002the\u2002Transportation\u2002and\u2002Natural\u2002Resources\u2002CGUs\u2002
was\u200215.9%.\u2002In\u20022023,\u2002the\u2002rates\u2002used\u2002to\u2002discount\u2002the\u2002forecast\u2002cash\u2002flows\u2002for\u2002the\u2002Transportation\u2002and\u2002Natural\u2002Resources\u2002CGUs\u2002were\u200215.8%\u2002
and\u200215.7%\u2002respectively.
The\u2002value\u2002in\u2002use\u2002calculations\u2002use\u2002the\u2002Group\u2019s\u2002four-year\u2002cash\u2002flow\u2002forecasts,\u2002which\u2002are\u2002based\u2002on\u2002the\u2002expected\u2002revenues\u2002and\u2002profitability\u2002
of\u2002each\u2002CGU,\u2002taking\u2002into\u2002account\u2002the\u2002current\u2002level\u2002of\u2002secured\u2002and\u2002anticipated\u2002orders,\u2002extrapolated\u2002for\u2002future\u2002years\u2002by\u2002the\u2002expected\u2002
growth\u2002rate\u2002applicable\u2002to\u2002each\u2002CGU,\u20022.0%\u2002for\u2002both\u2002Transportation\u2002and\u2002Natural\u2002Resources\u2002(2023:\u20022.0%\u2002for\u2002both\u2002Transportation\u2002and\u2002
Natural\u2002Resources).
At\u200231\u2002December\u20022024,\u2002based\u2002on\u2002the\u2002internal\u2002value\u2002in\u2002use\u2002calculations,\u2002management\u2002concluded\u2002that\u2002the\u2002recoverable\u2002value\u2002of\u2002both\u2002the\u2002
Natural\u2002Resources\u2002and\u2002the\u2002Transportation\u2002cash\u2002generating\u2002units\u2002exceeded\u2002their\u2002respective\u2002carrying\u2002amounts\u2002with\u2002substantial\u2002headroom.
The\u2002directors\u2002consider\u2002that\u2002there\u2002is\u2002no\u2002reasonable\u2002possible\u2002change\u2002in\u2002assumptions\u2002that\u2002would\u2002give\u2002rise\u2002to\u2002an\u2002impairment,\u2002for\u2002example,\u2002
a\u200230.0%\u2002reduction\u2002in\u2002absolute\u2002business\u2002unit\u2002operating\u2002profit,\u2002a\u20021.0%\u2002decrease\u2002in\u2002growth\u2002rate\u2002and\u2002a\u20021.0%\u2002increase\u2002in\u2002discount\u2002rate\u2002in\u2002
combination\u2002would\u2002not\u2002result\u2002in\u2002an\u2002impairment.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-386": { "value": "12 Intangible assets
Customer Other acquired Other
Goodwill relationships intangibles intangibles Total
Group \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Cost
At\u20021\u2002January\u20022023
54.1
15.4
9.7
16.2
95.4
Additions
\u2013
\u2013
\u2013
0.1
0.1
Disposals
\u2013
\u2013
\u2013
(0.1)
(0.1)
At\u200231\u2002December\u20022023
54.1
15.4
9.7
16.2
95.4
At\u20021\u2002January\u20022024
54.1
15.4
9.7
16.2
95.4
Additions
\u2013
\u2013
\u2013
5.8
5.8
Disposals
\u2013
\u2013
\u2013
(7.6)
(7.6)
At 31 December 2024
54.1
15.4
9.7
14.4
93.6
Accumulated amortisation and impairment
At\u20021\u2002January\u20022023
9.0
15.4
9.7
9.1
43.2
Charge\u2002in\u2002year
\u2013
\u2013
\u2013
1.3
1.3
Impairment\u2002in\u2002year
\u2013
\u2013
\u2013
5.3
5.3
Disposals
\u2013
\u2013
\u2013
(0.1)
(0.1)
At\u200231\u2002December\u20022023
9.0
15.4
9.7
15.6
49.7
At\u20021\u2002January\u20022024
9.0
15.4
9.7
15.6
49.7
Charge\u2002in\u2002year
\u2013
\u2013
\u2013
0.3
0.3
Disposals
\u2013
\u2013
\u2013
(7.6)
(7.6)
At 31 December 2024
9.0
15.4
9.7
8.3
42.4
Net book value
At 31 December 2024
45.1
\u2013
\u2013
6.1
51.2
At\u200231\u2002December\u20022023
45.1
\u2013
\u2013
0.6
45.7
At\u20021\u2002January\u20022023
45.1
\u2013
\u2013
7.1
52.2
Additions\u2002to\u2002Other\u2002intangibles\u2002in\u2002the\u2002year\u2002relate\u2002to\u2002the\u2002investment\u2002in\u2002a\u2002new\u2002HR\u2002system. For\u2002more\u2002information\u2002on\u2002the\u2002intangible\u2002impairment\u2002in\u20022023,\u2002see\u2002note\u20023. Goodwill\u2002has\u2002been\u2002allocated\u2002to\u2002the\u2002applicable\u2002cash\u2002generating\u2002units\u2002of\u2002the\u2002Transportation\u2002segment\u2002(\u00a315.5m\u2002(2023:\u2002\u00a315.5m))\u2002and\u2002the\u2002Natural\u2002Resources\u2002segment\u2002(\u00a329.6m\u2002(2023:\u2002\u00a329.6m)). As\u2002described\u2002in\u2002note\u20022,\u2002the\u2002Group\u2002reviews\u2002the\u2002value\u2002of\u2002goodwill\u2002and\u2002in\u2002the\u2002absence\u2002of\u2002any\u2002identified\u2002impairment\u2002risks,\u2002tests\u2002are\u2002based\u2002on\u2002internal\u2002value\u2002in\u2002use\u2002calculations\u2002of\u2002the\u2002cash\u2002generating\u2002unit\u2002(CGU).\u2002The\u2002key\u2002assumptions\u2002for\u2002these\u2002calculations\u2002are:\u2002operating\u2002margins,\u2002discount\u2002rates\u2002and\u2002growth\u2002rates. Discount\u2002rates\u2002have\u2002been\u2002estimated\u2002based\u2002on\u2002pre-tax\u2002rates\u2002that\u2002reflect\u2002current\u2002market\u2002assessments\u2002of\u2002the\u2002time\u2002value\u2002of\u2002money\u2002and\u2002the\u2002risks\u2002specific\u2002to\u2002the\u2002CGU.\u2002The\u2002rate\u2002used\u2002to\u2002discount\u2002the\u2002forecast\u2002cash\u2002flows\u2002for\u2002both\u2002the\u2002Transportation\u2002and\u2002Natural\u2002Resources\u2002CGUs\u2002was\u200215.9%.\u2002In\u20022023,\u2002the\u2002rates\u2002used\u2002to\u2002discount\u2002the\u2002forecast\u2002cash\u2002flows\u2002for\u2002the\u2002Transportation\u2002and\u2002Natural\u2002Resources\u2002CGUs\u2002were\u200215.8%\u2002and\u200215.7%\u2002respectively. The\u2002value\u2002in\u2002use\u2002calculations\u2002use\u2002the\u2002Group\u2019s\u2002four-year\u2002cash\u2002flow\u2002forecasts,\u2002which\u2002are\u2002based\u2002on\u2002the\u2002expected\u2002revenues\u2002and\u2002profitability\u2002of\u2002each\u2002CGU,\u2002taking\u2002into\u2002account\u2002the\u2002current\u2002level\u2002of\u2002secured\u2002and\u2002anticipated\u2002orders,\u2002extrapolated\u2002for\u2002future\u2002years\u2002by\u2002the\u2002expected\u2002growth\u2002rate\u2002applicable\u2002to\u2002each\u2002CGU,\u20022.0%\u2002for\u2002both\u2002Transportation\u2002and\u2002Natural\u2002Resources\u2002(2023:\u20022.0%\u2002for\u2002both\u2002Transportation\u2002and\u2002Natural\u2002Resources). At\u200231\u2002December\u20022024,\u2002based\u2002on\u2002the\u2002internal\u2002value\u2002in\u2002use\u2002calculations,\u2002management\u2002concluded\u2002that\u2002the\u2002recoverable\u2002value\u2002of\u2002both\u2002the\u2002Natural\u2002Resources\u2002and\u2002the\u2002Transportation\u2002cash\u2002generating\u2002units\u2002exceeded\u2002their\u2002respective\u2002carrying\u2002amounts\u2002with\u2002substantial\u2002headroom. The\u2002directors\u2002consider\u2002that\u2002there\u2002is\u2002no\u2002reasonable\u2002possible\u2002change\u2002in\u2002assumptions\u2002that\u2002would\u2002give\u2002rise\u2002to\u2002an\u2002impairment,\u2002for\u2002example,\u2002a\u200230.0%\u2002reduction\u2002in\u2002absolute\u2002business\u2002unit\u2002operating\u2002profit,\u2002a\u20021.0%\u2002decrease\u2002in\u2002growth\u2002rate\u2002and\u2002a\u20021.0%\u2002increase\u2002in\u2002discount\u2002rate\u2002in\u2002combination\u2002would\u2002not\u2002result\u2002in\u2002an\u2002impairment.", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-354": { "value": "13 Property, plant and equipment
Right-of-use assets
Leasehold Plant and Land and Vehicles, plant
improvements equipment buildings and equipment Total
Group \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Cost
At\u20021\u2002January\u20022023
\u2013
24.6
21.8
28.3
74.7
Additions
\u2013
\u2013
0.5
9.7
10.2
Disposals
\u2013
(9.6)
(2.8)
(5.3)
(17.7)
At\u200231\u2002December\u20022023
\u2013
15.0
19.5
32.7
67.2
At\u20021\u2002January\u20022024
\u2013
15.0
19.5
32.7
67.2
Additions
8.2
0.1
7.3
11.2
26.8
Disposals
\u2013
(7.1)
(10.9)
(15.5)
(33.5)
At 31 December 2024
8.2
8.0
15.9
28.4
60.5
Accumulated depreciation and impairment
At\u20021\u2002January\u20022023
\u2013
23.3
7.6
11.8
42.7
Charge\u2002in\u2002year
\u2013
0.9
4.8
9.1
14.8
Disposals
\u2013
(9.6)
(2.6)
(4.9)
(17.1)
At\u200231\u2002December\u20022023
\u2013
14.6
9.8
16.0
40.4
At\u20021\u2002January\u20022024
\u2013
14.6
9.8
16.0
40.4
Charge\u2002in\u2002year
0.2
0.2
2.8
8.7
11.9
Disposals
\u2013
(7.1)
(8.3)
(11.7)
(27.1)
At 31 December 2024
0.2
7.7
4.3
13.0
25.2
Net book value
At 31 December 2024
8.0
0.3
11.6
15.4
35.3
At\u200231\u2002December\u20022023
\u2013
0.4
9.7
16.7
26.8
At\u20021\u2002January\u20022023
\u2013
1.3
14.2
16.5
32.0
Additions\u2002to\u2002Leasehold\u2002improvements\u2002in\u2002the\u2002year\u2002relate\u2002to\u2002the\u2002fit\u2002out\u2002of\u2002the\u2002new\u2002London\u2002office\u2002and\u2002related\u2002dilapidations\u2002provisions\u2002as\u2002well\u2002as\u2002additions\u2002to\u2002the\u2002Manchester\u2002office\u2002and\u2002related\u2002dilpidations\u2002provisions.\u2002Leased assets Other\u2002amounts\u2002recognised\u2002in\u2002the\u2002income\u2002statement:
2024 2023
\u00a3m \u00a3m
Interest\u2002expense\u2002(included\u2002in\u2002finance\u2002expense)
2.5
1.5
Expense\u2002relating\u2002to\u2002short-term\u2002leases\u2002(included\u2002in\u2002cost\u2002of\u2002sales\u2002and\u2002administrative\u2002expenses)
42.6
54.8
The\u2002lease\u2002liabilities\u2002relating\u2002to\u2002these\u2002right-of-use\u2002assets\u2002are\u2002as\u2002follows:\u2002
2024 2023
\u00a3m \u00a3m
Current
13.0
10.3
Non-current
12.8
14.0
25.8
24.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-387": { "value": "
Leased assets
Other\u2002amounts\u2002recognised\u2002in\u2002the\u2002income\u2002statement:
2024 2023
\u00a3m \u00a3m
Interest\u2002expense\u2002(included\u2002in\u2002finance\u2002expense)
2.5
1.5
Expense\u2002relating\u2002to\u2002short-term\u2002leases\u2002(included\u2002in\u2002cost\u2002of\u2002sales\u2002and\u2002administrative\u2002expenses)
42.6
54.8
The\u2002lease\u2002liabilities\u2002relating\u2002to\u2002these\u2002right-of-use\u2002assets\u2002are\u2002as\u2002follows:\u2002
2024 2023
\u00a3m \u00a3m
Current
13.0
10.3
Non-current
12.8
14.0
25.8
24.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-388": { "value": "
14 Investments in subsidiaries, equity accounted joint ventures and associates
Group
Details\u2002of\u2002subsidiary\u2002undertakings,\u2002joint\u2002ventures,\u2002joint\u2002operations\u2002and\u2002associates\u2002are\u2002shown\u2002in\u2002note\u200224.
Certain\u2002subsidiaries\u2002of\u2002the\u2002Group\u2002(as\u2002indicated\u2002in\u2002note\u200224)\u2002have\u2002opted\u2002to\u2002take\u2002advantage\u2002of\u2002the\u2002audit\u2002exemption\u2002under\u2002Section\u2002479A\u2002
of\u2002the\u2002Companies\u2002Act\u20022006\u2002for\u2002the\u2002year\u2002ended\u200231\u2002December\u20022024.\u2002In\u2002order\u2002to\u2002take\u2002advantage\u2002of\u2002this\u2002exemption,\u2002Costain\u2002Group\u2002PLC\u2002
undertakes\u2002to\u2002provide\u2002a\u2002Parent\u2002Company\u2002guarantee\u2002in\u2002respect\u2002of\u2002debts\u2002and\u2002liabilities\u2002of\u2002these\u2002subsidiaries\u2002at\u2002the\u2002balance\u2002sheet\u2002date\u2002
in\u2002accordance\u2002with\u2002Section\u2002479C\u2002of\u2002the\u2002Companies\u2002Act\u20022006.\u2002The\u2002Company\u2002has\u2002assessed\u2002the\u2002probability\u2002of\u2002loss\u2002under\u2002these\u2002guarantees\u2002
as\u2002remote.
Company
Investments in subsidiaries
\u00a3m
Cost
At\u20021\u2002January\u20022023 427.1
Additions
2.2
At\u200231\u2002December\u20022023
429.3
At\u20021\u2002January\u20022024
429.3
Additions
2.3
At 31 December 2024
431.6
Amounts written off
At\u20021\u2002January\u20022023
\u2002(273.7)
At\u200231\u2002December\u20022023
(273.7)
At\u20021\u2002January\u20022024
(273.7)
At 31 December 2024
(273.7)
Net book value
At 31 December 2024 157.9
At\u200231\u2002December\u20022023
155.6
At\u20021\u2002January\u20022023
153.4
Additions\u2002relate\u2002to\u2002the\u2002increase\u2002in\u2002the\u2002cost\u2002of\u2002investments\u2002in\u2002subsidiaries\u2002by\u2002the\u2002equivalent\u2002amount\u2002of\u2002the\u2002equity-settled\u2002share-based\u2002
payment\u2002charge\u2002in\u2002relation\u2002to\u2002employees\u2002of\u2002subsidiaries\u2002included\u2002in\u2002the\u2002income\u2002statement\u2002(\u00a32.3m\u2002(2023:\u2002\u00a32.2m)).
Details\u2002of\u2002the\u2002Company\u2019s\u2002subsidiaries\u2002are\u2002set\u2002out\u2002in\u2002note\u200224.
Registered
Percentage of office/principal
Activity equity held place of business
Principal\u2002subsidiary\u2002undertakings
Costain\u2002Limited
Engineering,\u2002Construction\u2002and\u2002Maintenance
100
(1)
Costain\u2002Engineering\u2002&\u2002Construction\u2002Limited
Holding\u2002and\u2002Service\u2002Company
100
(1)
Costain\u2002Integrated\u2002Services\u2002Limited
Professional\u2002Services
100
(1)
Costain\u2002Integrated\u2002Technology\u2002Solutions\u2002Limited
Technology\u2002Integration
100
(1)
Costain\u2002Oil,\u2002Gas\u2002&\u2002Process\u2002Limited
Process\u2002Engineering
100
(1)
Richard\u2002Costain\u2002Limited
Service\u2002Company
100
(1)
The\u2002equity\u2002capital\u2002of\u2002the\u2002above\u2002are\u2002held\u2002by\u2002subsidiary\u2002undertakings\u2002with\u2002the\u2002exception\u2002of\u2002Richard\u2002Costain\u2002Limited\u2002and\u2002Costain\u2002
Engineering\u2002&\u2002Construction\u2002Limited.
All\u2002undertakings\u2002operate\u2002mainly\u2002in\u2002the\u2002country\u2002of\u2002incorporation.\u2002See\u2002key\u2002to\u2002registered\u2002office/principal\u2002place\u2002of\u2002business\u2002at\u2002the\u2002bottom\u2002
of\u2002this\u2002note.
All\u2002holdings\u2002are\u2002of\u2002ordinary\u2002shares.
In\u2002accordance\u2002with\u2002Section\u2002409\u2002of\u2002the\u2002Companies\u2002Act\u20022006,\u2002a\u2002full\u2002list\u2002of\u2002subsidiaries,\u2002associates,\u2002joint\u2002ventures\u2002and\u2002joint\u2002arrangements\u2002
is\u2002required:
Registered
Percentage of office/principal
Status equity held place of business
Other\u2002subsidiaries\u2002owned\u2002directly\u2002by\u2002Costain\u2002Group\u2002PLC
Costain\u2002Civil\u2002Engineering\u2002Limited
Holding\u2002Company
100
(1)
Costain\u2002Investments\u2002Limited
Dormant
100
(7)
Costain\u2002USA\u2002Inc.
Holding\u2002Company
100
(5)
County\u2002&\u2002District\u2002Properties\u2002Limited*
Trading
100
(1)
Renown\u2002Investments\u2002(Holdings)\u2002Limited*
Trading
100
(1)
Lysander\u2002Services\u2002Limited*
Trading
100
(1)
Other\u2002subsidiaries\u2002owned\u2002indirectly\u2002by\u2002Costain\u2002Group\u2002PLC
Brunswick\u2002Infrastructure\u2002Services\u2002Limited
Dormant
100
(1)
Calvert\u2002&\u2002Russell\u2002Limited*
Trading
100
(1)
CLM\u2002Engineering\u2002(Overseas)\u2002Limited
Dormant
100
(1)
COGAP\u2002(Middle\u2002East)\u2002Limited*
Holding\u2002Company
100
(1)
Construction\u2002Study\u2002Centre\u2002Limited*
Trading
100
(1)
Costain\u2002Alcaidesa\u2002Limited*
Dormant
100
(1)
Costain\u2002America\u2002Inc.
Holding\u2002Company
100
(5)
Costain\u2002Building\u2002&\u2002Civil\u2002Engineering\u2002Limited*
Holding\u2002Company
100
(1)
Costain\u2002Construction\u2002Limited
Dormant
100
(1)
Costain\u2002de\u2002Venezuela\u2002CA
Dormant
100
(14)
Costain\u2002Energy\u2002Solutions\u2002Limited
Dormant
100
(1)
Costain\u2002Engineering\u2002&\u2002Construction\u2002(Overseas)\u2002Limited*
Holding\u2002Company
100
(1)
Costain\u2002Engineering\u2002Services\u2002Inc.
Dormant
100
(5)
Costain\u2002International\u2002Limited*
Dormant
100
(1)
Costain\u2002Management\u2002Design\u2002Limited
Dormant
100
(1)
Costain\u2002Minerals\u2002Inc.
Dormant
100
(5)
Costain\u2002Mining\u2002Services\u2002Inc.
Dormant
100
(5)
Costain\u2002Oil,\u2002Gas\u2002&\u2002Process\u2002(Nigeria)\u2002Limited
Dormant
95
(15)
Costain\u2002Oil,\u2002Gas\u2002&\u2002Process\u2002(Overseas)\u2002Limited
Dormant
100
(1)
Costain\u2002Process\u2002Construction\u2002Limited
Dormant
100
(1)
Costain\u2002Upstream\u2002Limited*
Trading
100
(2)
JBCC\u2002Rhead\u2002PTE\u2002Limited
Dissolved\u2002Nov\u20022024
100
(11)
Promanex\u2002(Civils\u2002&\u2002Industrial\u2002Services)\u2002Limited
Dormant
100
(1)
Promanex\u2002(Construction\u2002&\u2002Maintenance\u2002Services)\u2002Limited
Dormant
100
(1)
Promanex\u2002(Total\u2002FM\u2002&\u2002Environmental\u2002Services)\u2002Limited*
Dormant
100
(1)
Sunland\u2002Mining\u2002Corporation\u2002(II)
Dormant
100
(5)
Westminster\u2002Plant\u2002Co.\u2002Limited
Dormant
100
(1)
*\u2002 Denotes\u2002that\u2002the\u2002entity\u2002has\u2002taken\u2002the\u2002audit\u2002exemption\u2002under\u2002Section\u2002479A\u2002of\u2002the\u2002Companies\u2002Act\u20022006\u2002for\u2002the\u2002financial\u2002year\u2002ended\u200231\u2002December\u20022024.
Key to registered office/principal place of business
(1) Seventh\u2002Floor,\u200270\u2002St\u2002Mary\u2002Axe,\u2002London,\u2002EC3A\u20028BE,\u2002England
(2) Neo\u2002House,\u2002Riverside,\u2002Aberdeen,\u2002AB11\u20027LH,\u2002Scotland
(3)
210
Pentonville\u2002Road,\u2002London,\u2002N1\u20029JY,\u2002England
(4) Booths\u2002Park,\u2002Chelford\u2002Road,\u2002Knutsford,\u2002WA16\u20028QZ,\u2002England\u2002
(5)
The\u2002Corporation\u2002Trust\u2002Company,\u2002Corporation\u2002Trust\u2002Center,\u20021209\u2002Orange\u2002Street,\u2002Wilmington,\u2002Delaware\u200219801\u2002(New\u2002Castle\u2002County),\u2002USA
(6) Alstom,\u2002Litchurch\u2002Lane,\u2002Derby,\u2002DE24\u20028AD,\u2002England
(7)
P.O.Box\u2002N-7768,\u2002Bank\u2002Lane,\u2002Nassau,\u2002Bahamas
(8) Dormant\u2002company\u2002\u2013\u2002Abu\u2002Dhabi,\u2002UAE,\u2002no\u2002record\u2002of\u2002address
(9) Flat\u200233,\u2002Building\u2002232,\u2002Road\u200218,\u2002Block\u2002321,\u2002Manama,\u2002Bahrain
(10)
P.O.Box\u20026967,\u200221452,
Jeddah,\u2002Saudi\u2002Arabia
(11)
Peninsula\u2002Plaza\u2002#27\u201301,\u2002111\u2002North\u2002Bridge\u2002Road,\u2002179098,\u2002Singapore
(12)
Calle\u2002Delfines\u2002No.\u2002268\u2002\u2013\u20022,\u2002Frac.\u2002Playa\u2002Ensenada,\u2002Ensenada,\u2002B.C.,\u2002CP.\u200222880,\u2002Mexico
(13) Marsza\u0142kowska\u200282,\u2002Warsaw,\u2002Mazowieckie,\u200200\u2013517,\u2002Poland
(14) Dormant\u2002company\u2002\u2013\u2002Venezuela,\u2002no\u2002record\u2002of\u2002address
(15) Dormant\u2002company\u2002\u2013\u2002Nigeria,\u2002no\u2002record\u2002of\u2002address
", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-355": { "value": "
Investments in joint ventures
\u00a3m
Cost
At\u20021\u2002January\u20022023\u200220.9\u2002
At\u200231\u2002December\u20022023
20.9
At\u20021\u2002January\u20022024
20.9
At 31 December 2024
20.9
Share of post-acquisition reserves
At\u20021\u2002January\u20022023\u2002(14.0)
At\u200231\u2002December\u20022023
(14.0)
At\u20021\u2002January\u20022024
(14.0)
At 31 December 2024
(14.0)
Accumulated impairment
At\u20021\u2002January\u20022023
(6.5)
At\u200231\u2002December\u20022023
(6.5)
At\u20021\u2002January\u20022024
(6.5)
At 31 December 2024
(6.5)
Net book value
At 31 December 2024 0.4
At\u200231\u2002December\u20022023
0.4
At\u20021\u2002January\u20022023
0.4
Analysis\u2002of\u2002Group\u2002share\u2002of\u2002revenue,\u2002income\u2002and\u2002assets\u2002and\u2002liabilities\u2002of\u2002joint\u2002ventures
2024 2023
Joint ventures Joint ventures
\u00a3m \u00a3m
Revenue
0.1
\u2013
Profit\u2002before\u2002tax
\u2013
\u2013
Taxation
\u2013
\u2013
Profit\u2002for\u2002the\u2002year
\u2013
\u2013
Non-current\u2002assets
\u2013
\u2013
Trade\u2002and\u2002other\u2002receivables
0.7
0.9
Cash\u2002and\u2002cash\u2002equivalents
0.1
\u2013
Trade\u2002and\u2002other\u2002payables\u2002\u2013\u2002current
(0.4)
(0.5)
Non-current\u2002liabilities
\u2013
\u2013
Investments\u2002in\u2002joint\u2002ventures\u2002and\u2002associates
0.4
0.4
Dividends\u2002received\u2002by\u2002Group
\u2013
\u2013
Net\u2002interest\u2002payable\u2002by\u2002joint\u2002ventures\u2002in\u20022024\u2002was\u2002\u00a3nil\u2002(2023:\u2002\u00a3nil).\u2002There\u2002was\u2002no\u2002(2023:\u2002no)\u2002interest\u2002income\u2002and\u2002interest\u2002expense\u2002during\u2002the\u2002year. At\u2002the\u2002year-end,\u2002there\u2002were\u2002no\u2002capital\u2002or\u2002financial\u2002commitments\u2002entered\u2002into\u2002by\u2002the\u2002joint\u2002ventures\u2002(2023:\u2002none). Analysis\u2002of\u2002the\u2002total\u2002revenue,\u2002income,\u2002assets\u2002and\u2002liabilities\u2002of\u2002joint\u2002ventures
2024 2023
Joint ventures Joint ventures
\u00a3m \u00a3m
Revenue
0.2
0.1
Profit\u2002before\u2002tax
\u2013
\u2013
Taxation
\u2013
\u2013
Profit\u2002for\u2002the\u2002year
\u2013
\u2013
Non-current\u2002assets
\u2013
\u2013
Trade\u2002and\u2002other\u2002receivables
1.5
2.0
Cash\u2002and\u2002cash\u2002equivalents
0.2
0.1
Trade\u2002and\u2002other\u2002payables\u2002\u2013\u2002current
(0.7)
(0.9)
Non-current\u2002liabilities
\u2013
\u2013
Equity
1.0
1.2
There\u2002is\u2002no\u2002other\u2002comprehensive\u2002income/(expense)\u2002in\u2002respect\u2002of\u2002joint\u2002ventures\u2002or\u2002associates.\u2002
Issued share Registered
capital Percentage of office/principal
Activity \u00a3m equity held
place of business
Reporting date
Principal\u2002joint\u2002ventures
ABC\u2002Electrification\u2002Ltd
Rail\u2002Electrification
19.6
33.3
(6)
31\u2002March
4Delivery\u2002Limited
Civil\u2002Engineering
\u2013
40
(3)
31\u2002March
Registered
Percentage of office/principal place
Status equity held of business
Other\u2002joint\u2002ventures\u2002or\u2002associates\u2002owned\u2002indirectly\u2002by\u2002Costain\u2002Group\u2002PLC
ACM\u2002Health\u2002Solutions\u2002Limited
Dormant
33.3
(4)
Brighton\u2002&\u2002Hove\u20024Delivery\u2002Limited
Trading
49
(3)
Budimex\u2002&\u2002Costain\u2002SP\u2002ZO.O
Dormant
50
(13)
Costain\u2002Abu\u2002Dhabi\u2002Co\u2002WLL
Dormant
49
(8)
China\u2002Harbour-Costain\u2002Mexico\u2002S\u2002de\u2002RL\u2002de\u2002CV
Dormant
50
(12)
Jalal\u2002Costain\u2002WLL
Dormant
49
(9)
Nesma-Costain\u2002Process\u2002Co.\u2002Limited
Dormant
50
(10)
Key to registered office/principal place of business
(1) Seventh\u2002Floor,\u200270\u2002St\u2002Mary\u2002Axe,\u2002London,\u2002EC3A\u20028BE,\u2002England
(2) Neo\u2002House,\u2002Riverside,\u2002Aberdeen,\u2002AB11\u20027LH,\u2002Scotland
(3)
210
Pentonville\u2002Road,\u2002London,\u2002N1\u20029JY,\u2002England
(4) Booths\u2002Park,\u2002Chelford\u2002Road,\u2002Knutsford,\u2002WA16\u20028QZ,\u2002England\u2002
(5)
The\u2002Corporation\u2002Trust\u2002Company,\u2002Corporation\u2002Trust\u2002Center,\u20021209\u2002Orange\u2002Street,\u2002Wilmington,\u2002Delaware\u200219801\u2002(New\u2002Castle\u2002County),\u2002USA
(6) Alstom,\u2002Litchurch\u2002Lane,\u2002Derby,\u2002DE24\u20028AD,\u2002England
(7)
P.O.Box\u2002N-7768,\u2002Bank\u2002Lane,\u2002Nassau,\u2002Bahamas
(8) Dormant\u2002company\u2002\u2013\u2002Abu\u2002Dhabi,\u2002UAE,\u2002no\u2002record\u2002of\u2002address
(9) Flat\u200233,\u2002Building\u2002232,\u2002Road\u200218,\u2002Block\u2002321,\u2002Manama,\u2002Bahrain
(10)
P.O.Box\u20026967,\u200221452,
Jeddah,\u2002Saudi\u2002Arabia
(11)
Peninsula\u2002Plaza\u2002#27\u201301,\u2002111\u2002North\u2002Bridge\u2002Road,\u2002179098,\u2002Singapore
(12)
Calle\u2002Delfines\u2002No.\u2002268\u2002\u2013\u20022,\u2002Frac.\u2002Playa\u2002Ensenada,\u2002Ensenada,\u2002B.C.,\u2002CP.\u200222880,\u2002Mexico
(13) Marsza\u0142kowska\u200282,\u2002Warsaw,\u2002Mazowieckie,\u200200\u2013517,\u2002Poland
(14) Dormant\u2002company\u2002\u2013\u2002Venezuela,\u2002no\u2002record\u2002of\u2002address
(15) Dormant\u2002company\u2002\u2013\u2002Nigeria,\u2002no\u2002record\u2002of\u2002address
", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-430": { "value": "
Investments in joint ventures
\u00a3m
Cost
At\u20021\u2002January\u20022023\u200220.9\u2002
At\u200231\u2002December\u20022023
20.9
At\u20021\u2002January\u20022024
20.9
At 31 December 2024
20.9
Share of post-acquisition reserves
At\u20021\u2002January\u20022023\u2002(14.0)
At\u200231\u2002December\u20022023
(14.0)
At\u20021\u2002January\u20022024
(14.0)
At 31 December 2024
(14.0)
Accumulated impairment
At\u20021\u2002January\u20022023
(6.5)
At\u200231\u2002December\u20022023
(6.5)
At\u20021\u2002January\u20022024
(6.5)
At 31 December 2024
(6.5)
Net book value
At 31 December 2024 0.4
At\u200231\u2002December\u20022023
0.4
At\u20021\u2002January\u20022023
0.4
Analysis\u2002of\u2002Group\u2002share\u2002of\u2002revenue,\u2002income\u2002and\u2002assets\u2002and\u2002liabilities\u2002of\u2002joint\u2002ventures
2024 2023
Joint ventures Joint ventures
\u00a3m \u00a3m
Revenue
0.1
\u2013
Profit\u2002before\u2002tax
\u2013
\u2013
Taxation
\u2013
\u2013
Profit\u2002for\u2002the\u2002year
\u2013
\u2013
Non-current\u2002assets
\u2013
\u2013
Trade\u2002and\u2002other\u2002receivables
0.7
0.9
Cash\u2002and\u2002cash\u2002equivalents
0.1
\u2013
Trade\u2002and\u2002other\u2002payables\u2002\u2013\u2002current
(0.4)
(0.5)
Non-current\u2002liabilities
\u2013
\u2013
Investments\u2002in\u2002joint\u2002ventures\u2002and\u2002associates
0.4
0.4
Dividends\u2002received\u2002by\u2002Group
\u2013
\u2013
Net\u2002interest\u2002payable\u2002by\u2002joint\u2002ventures\u2002in\u20022024\u2002was\u2002\u00a3nil\u2002(2023:\u2002\u00a3nil).\u2002There\u2002was\u2002no\u2002(2023:\u2002no)\u2002interest\u2002income\u2002and\u2002interest\u2002expense\u2002during\u2002the\u2002year. At\u2002the\u2002year-end,\u2002there\u2002were\u2002no\u2002capital\u2002or\u2002financial\u2002commitments\u2002entered\u2002into\u2002by\u2002the\u2002joint\u2002ventures\u2002(2023:\u2002none). Analysis\u2002of\u2002the\u2002total\u2002revenue,\u2002income,\u2002assets\u2002and\u2002liabilities\u2002of\u2002joint\u2002ventures
2024 2023
Joint ventures Joint ventures
\u00a3m \u00a3m
Revenue
0.2
0.1
Profit\u2002before\u2002tax
\u2013
\u2013
Taxation
\u2013
\u2013
Profit\u2002for\u2002the\u2002year
\u2013
\u2013
Non-current\u2002assets
\u2013
\u2013
Trade\u2002and\u2002other\u2002receivables
1.5
2.0
Cash\u2002and\u2002cash\u2002equivalents
0.2
0.1
Trade\u2002and\u2002other\u2002payables\u2002\u2013\u2002current
(0.7)
(0.9)
Non-current\u2002liabilities
\u2013
\u2013
Equity
1.0
1.2
There\u2002is\u2002no\u2002other\u2002comprehensive\u2002income/(expense)\u2002in\u2002respect\u2002of\u2002joint\u2002ventures\u2002or\u2002associates.
Issued share Registered
capital Percentage of office/principal
Activity \u00a3m equity held
place of business
Reporting date
Principal\u2002joint\u2002ventures
ABC\u2002Electrification\u2002Ltd
Rail\u2002Electrification
19.6
33.3
(6)
31\u2002March
4Delivery\u2002Limited
Civil\u2002Engineering
\u2013
40
(3)
31\u2002March
Registered
Percentage of office/principal place
Status equity held of business
Other\u2002joint\u2002ventures\u2002or\u2002associates\u2002owned\u2002indirectly\u2002by\u2002Costain\u2002Group\u2002PLC
ACM\u2002Health\u2002Solutions\u2002Limited
Dormant
33.3
(4)
Brighton\u2002&\u2002Hove\u20024Delivery\u2002Limited
Trading
49
(3)
Budimex\u2002&\u2002Costain\u2002SP\u2002ZO.O
Dormant
50
(13)
Costain\u2002Abu\u2002Dhabi\u2002Co\u2002WLL
Dormant
49
(8)
China\u2002Harbour-Costain\u2002Mexico\u2002S\u2002de\u2002RL\u2002de\u2002CV
Dormant
50
(12)
Jalal\u2002Costain\u2002WLL
Dormant
49
(9)
Nesma-Costain\u2002Process\u2002Co.\u2002Limited
Dormant
50
(10)
Key to registered office/principal place of business
(1) Seventh\u2002Floor,\u200270\u2002St\u2002Mary\u2002Axe,\u2002London,\u2002EC3A\u20028BE,\u2002England
(2) Neo\u2002House,\u2002Riverside,\u2002Aberdeen,\u2002AB11\u20027LH,\u2002Scotland
(3)
210
Pentonville\u2002Road,\u2002London,\u2002N1\u20029JY,\u2002England
(4) Booths\u2002Park,\u2002Chelford\u2002Road,\u2002Knutsford,\u2002WA16\u20028QZ,\u2002England\u2002
(5)
The\u2002Corporation\u2002Trust\u2002Company,\u2002Corporation\u2002Trust\u2002Center,\u20021209\u2002Orange\u2002Street,\u2002Wilmington,\u2002Delaware\u200219801\u2002(New\u2002Castle\u2002County),\u2002USA
(6) Alstom,\u2002Litchurch\u2002Lane,\u2002Derby,\u2002DE24\u20028AD,\u2002England
(7)
P.O.Box\u2002N-7768,\u2002Bank\u2002Lane,\u2002Nassau,\u2002Bahamas
(8) Dormant\u2002company\u2002\u2013\u2002Abu\u2002Dhabi,\u2002UAE,\u2002no\u2002record\u2002of\u2002address
(9) Flat\u200233,\u2002Building\u2002232,\u2002Road\u200218,\u2002Block\u2002321,\u2002Manama,\u2002Bahrain
(10)
P.O.Box\u20026967,\u200221452,
Jeddah,\u2002Saudi\u2002Arabia
(11)
Peninsula\u2002Plaza\u2002#27\u201301,\u2002111\u2002North\u2002Bridge\u2002Road,\u2002179098,\u2002Singapore
(12)
Calle\u2002Delfines\u2002No.\u2002268\u2002\u2013\u20022,\u2002Frac.\u2002Playa\u2002Ensenada,\u2002Ensenada,\u2002B.C.,\u2002CP.\u200222880,\u2002Mexico
(13) Marsza\u0142kowska\u200282,\u2002Warsaw,\u2002Mazowieckie,\u200200\u2013517,\u2002Poland
(14) Dormant\u2002company\u2002\u2013\u2002Venezuela,\u2002no\u2002record\u2002of\u2002address
(15) Dormant\u2002company\u2002\u2013\u2002Nigeria,\u2002no\u2002record\u2002of\u2002address
", "dimensions": { "concept": "ifrs-full:DisclosureOfJointVenturesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-356": { "value": "15 Assets and liabilities related to contracts with customers The\u2002Group\u2002has\u2002recognised\u2002the\u2002following\u2002assets\u2002and\u2002liabilities\u2002related\u2002to\u2002contracts\u2002with\u2002customers,\u2002in\u2002addition\u2002to\u2002amounts\u2002included\u2002in\u2002trade\u2002receivables\u2002and\u2002trade\u2002payables: 2023 2024 (as restated)* \u00a3m \u00a3m Contract\u2002assets 84.0 84.8 Contract\u2002liabilities (56.2) (63.0) *\u2002 See\u2002note\u200226\u2002for\u2002more\u2002information\u2002on\u2002restatements. Contract\u2002assets\u2002is\u2002made\u2002up\u2002of\u2002a\u2002portfolio\u2002of\u2002contracts\u2002and\u2002represents\u2002amounts\u2002arising\u2002from\u2002changes\u2002to\u2002the\u2002scope\u2002of\u2002works\u2002that\u2002have\u2002been\u2002recognised\u2002as\u2002revenue\u2002but\u2002not\u2002yet\u2002billed\u2002to\u2002the\u2002customer.\u2002There\u2002are\u2002no\u2002other\u2002significant\u2002one-off\u2002factors\u2002outside\u2002of\u2002normal\u2002trading\u2002contributing\u2002to\u2002the\u2002decrease\u2002in\u2002contract\u2002assets. Contract\u2002liabilities\u2002result\u2002when\u2002cumulative\u2002cash\u2002received\u2002exceeds\u2002cumulative\u2002revenue\u2002on\u2002any\u2002particular\u2002contract.\u2002On\u2002contracts\u2002undertaken\u2002by\u2002the\u2002Group,\u2002this\u2002typically\u2002results\u2002from\u2002work\u2002being\u2002undertaken,\u2002or\u2002on\u2002framework\u2002contracts\u2002awarded,\u2002in\u2002a\u2002different\u2002order\u2002to\u2002the\u2002programme\u2002envisaged\u2002in\u2002the\u2002contractual\u2002payments\u2002schedule.\u2002There\u2002are\u2002no\u2002significant\u2002one-off\u2002factors\u2002outside\u2002of\u2002normal\u2002trading\u2002contributing\u2002to\u2002the\u2002decrease\u2002in\u2002contract\u2002liabilities. Revenue\u2002recognised\u2002in\u20022024\u2002from\u2002performance\u2002obligations\u2002satisfied\u2002in\u2002previous\u2002periods\u2002was\u2002immaterial. The\u2002aggregate\u2002amount\u2002of\u2002costs\u2002incurred\u2002plus\u2002recognised\u2002profits,\u2002less\u2002recognised\u2002losses,\u2002for\u2002all\u2002contracts\u2002in\u2002progress\u2002at\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002date\u2002was\u2002\u00a34,814.0m\u2002(2023:\u2002\u00a34,116.8m).\u2002Progress\u2002billings\u2002and\u2002advances\u2002received\u2002from\u2002customers\u2002under\u2002open\u2002construction\u2002contracts\u2002amounted\u2002to\u2002\u00a34,788.1m\u2002(2023:\u2002\u00a34,098.4m).\u2002Advances\u2002for\u2002which\u2002work\u2002has\u2002not\u2002started,\u2002and\u2002billings\u2002in\u2002excess\u2002of\u2002costs\u2002incurred\u2002and\u2002recognised\u2002profits\u2002are\u2002included\u2002in\u2002contract\u2002liabilities. Unsatisfied long-term contracts The\u2002following\u2002table\u2002shows\u2002unsatisfied\u2002performance\u2002obligations\u2002resulting\u2002from\u2002long-term\u2002contracts: 2024 2023 \u00a3m \u00a3m Aggregate\u2002amount\u2002of\u2002the\u2002transaction\u2002price\u2002allocated\u2002to\u2002long-term\u2002 contracts\u2002that\u2002are\u2002partially\u2002or\u2002fully\u2002unsatisfied\u2002as\u2002at\u200231\u2002December 2,099.7 1,826.2 Management\u2002expects\u2002that\u2002approximately\u200237%\u2002of\u2002the\u2002transaction\u2002price\u2002allocated\u2002to\u2002the\u2002unsatisfied\u2002contracts\u2002as\u2002of\u200231\u2002December\u20022024\u2002will\u2002be\u2002recognised\u2002as\u2002revenue\u2002during\u2002the\u2002next\u2002reporting\u2002period\u2002(\u00a3772.7m).\u2002Of\u2002the\u2002remaining\u200263%,\u200235%\u2002will\u2002be\u2002recognised\u2002during\u20022026\u2002to\u20022028. Mobilisation costs and costs incurred to obtain a contract The\u2002Group\u2002does\u2002not\u2002have\u2002any\u2002assets\u2002relating\u2002to\u2002mobilisation\u2002costs\u2002or\u2002costs\u2002incurred\u2002to\u2002obtain\u2002a\u2002contract. ", "dimensions": { "concept": "costaingroupplc:DisclosureOfAssetsAndLiabilitiesRelatedToContractsWithCustomers", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-440": { "value": "15 Assets and liabilities related to contracts with customers The\u2002Group\u2002has\u2002recognised\u2002the\u2002following\u2002assets\u2002and\u2002liabilities\u2002related\u2002to\u2002contracts\u2002with\u2002customers,\u2002in\u2002addition\u2002to\u2002amounts\u2002included\u2002in\u2002trade\u2002receivables\u2002and\u2002trade\u2002payables:
2023
2024 (as restated)*
\u00a3m \u00a3m
Contract\u2002assets
84.0
84.8
Contract\u2002liabilities
(56.2)
(63.0)
*\u2002 See\u2002note\u200226\u2002for\u2002more\u2002information\u2002on\u2002restatements. Contract\u2002assets\u2002is\u2002made\u2002up\u2002of\u2002a\u2002portfolio\u2002of\u2002contracts\u2002and\u2002represents\u2002amounts\u2002arising\u2002from\u2002changes\u2002to\u2002the\u2002scope\u2002of\u2002works\u2002that\u2002have\u2002been\u2002recognised\u2002as\u2002revenue\u2002but\u2002not\u2002yet\u2002billed\u2002to\u2002the\u2002customer.\u2002There\u2002are\u2002no\u2002other\u2002significant\u2002one-off\u2002factors\u2002outside\u2002of\u2002normal\u2002trading\u2002contributing\u2002to\u2002the\u2002decrease\u2002in\u2002contract\u2002assets. Contract\u2002liabilities\u2002result\u2002when\u2002cumulative\u2002cash\u2002received\u2002exceeds\u2002cumulative\u2002revenue\u2002on\u2002any\u2002particular\u2002contract.\u2002On\u2002contracts\u2002undertaken\u2002by\u2002the\u2002Group,\u2002this\u2002typically\u2002results\u2002from\u2002work\u2002being\u2002undertaken,\u2002or\u2002on\u2002framework\u2002contracts\u2002awarded,\u2002in\u2002a\u2002different\u2002order\u2002to\u2002the\u2002programme\u2002envisaged\u2002in\u2002the\u2002contractual\u2002payments\u2002schedule.\u2002There\u2002are\u2002no\u2002significant\u2002one-off\u2002factors\u2002outside\u2002of\u2002normal\u2002trading\u2002contributing\u2002to\u2002the\u2002decrease\u2002in\u2002contract\u2002liabilities. Revenue\u2002recognised\u2002in\u20022024\u2002from\u2002performance\u2002obligations\u2002satisfied\u2002in\u2002previous\u2002periods\u2002was\u2002immaterial. The\u2002aggregate\u2002amount\u2002of\u2002costs\u2002incurred\u2002plus\u2002recognised\u2002profits,\u2002less\u2002recognised\u2002losses,\u2002for\u2002all\u2002contracts\u2002in\u2002progress\u2002at\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002date\u2002was\u2002\u00a34,814.0m\u2002(2023:\u2002\u00a34,116.8m).\u2002Progress\u2002billings\u2002and\u2002advances\u2002received\u2002from\u2002customers\u2002under\u2002open\u2002construction\u2002contracts\u2002amounted\u2002to\u2002\u00a34,788.1m\u2002(2023:\u2002\u00a34,098.4m).\u2002Advances\u2002for\u2002which\u2002work\u2002has\u2002not\u2002started,\u2002and\u2002billings\u2002in\u2002excess\u2002of\u2002costs\u2002incurred\u2002and\u2002recognised\u2002profits\u2002are\u2002included\u2002in\u2002contract\u2002liabilities. Unsatisfied long-term contracts The\u2002following\u2002table\u2002shows\u2002unsatisfied\u2002performance\u2002obligations\u2002resulting\u2002from\u2002long-term\u2002contracts:
2024 2023
\u00a3m \u00a3m
Aggregate\u2002amount\u2002of\u2002the\u2002transaction\u2002price\u2002allocated\u2002to\u2002long-term\u2002
contracts\u2002that\u2002are\u2002partially\u2002or\u2002fully\u2002unsatisfied\u2002as\u2002at\u200231\u2002December
2,099.7
1,826.2
Management\u2002expects\u2002that\u2002approximately\u200237%\u2002of\u2002the\u2002transaction\u2002price\u2002allocated\u2002to\u2002the\u2002unsatisfied\u2002contracts\u2002as\u2002of\u200231\u2002December\u20022024\u2002will\u2002be\u2002recognised\u2002as\u2002revenue\u2002during\u2002the\u2002next\u2002reporting\u2002period\u2002(\u00a3772.7m).\u2002Of\u2002the\u2002remaining\u200263%,\u200235%\u2002will\u2002be\u2002recognised\u2002during\u20022026\u2002to\u20022028. Mobilisation costs and costs incurred to obtain a contract The\u2002Group\u2002does\u2002not\u2002have\u2002any\u2002assets\u2002relating\u2002to\u2002mobilisation\u2002costs\u2002or\u2002costs\u2002incurred\u2002to\u2002obtain\u2002a\u2002contract.
Group
Company
2023
2024 (as restated)* 2024 2023
\u00a3m \u00a3m \u00a3m \u00a3m
Current liabilities
Trade\u2002payables
45.3
69.3
\u2013
\u2013
Other\u2002payables
21.0
24.1
0.1
0.1
Social\u2002security
8.8
8.6
\u2013
\u2013
Contract\u2002liabilities
56.2
63.0
\u2013
\u2013
Accruals\u2002and\u2002deferred\u2002income
139.5
115.8
0.5
0.5
Amounts\u2002owed\u2002to\u2002joint\u2002ventures\u2002and\u2002associates
0.2
0.6
\u2013
\u2013
Amounts\u2002owed\u2002to\u2002subsidiary\u2002undertakings
\u2013
\u2013
46.0
40.2
271.0
281.4
46.6
40.8
Non-current liabilities
Other\u2002payables
1.8
2.2
\u2013
\u2013
1.8
2.2
\u2013
\u2013
*\u2002 See\u2002note\u200226\u2002for\u2002more\u2002information\u2002on\u2002restatements. Accruals\u2002and\u2002deferred\u2002income\u2002include\u2002subcontract\u2002liabilities\u2002(not\u2002yet\u2002payable),\u2002subcontract\u2002retentions\u2002and\u2002other\u2002accruals\u2002and\u2002deferred\u2002income. \u00a317.5m\u2002(2023\u2002(as\u2002restated)*:\u2002\u00a30.8m)\u2002of\u2002the\u2002amounts\u2002included\u2002in\u2002contract\u2002liabilities\u2002and\u2002deferred\u2002income\u2002at\u200231\u2002December\u20022023\u2002has\u2002been\u2002recognised\u2002in\u2002the\u2002income\u2002statement\u2002in\u2002the\u2002year. Other\u2002payables\u2002primarily\u2002includes\u2002the\u2002VAT\u2002liability. The\u2002directors\u2002consider\u2002that\u2002the\u2002carrying\u2002amount\u2002of\u2002trade\u2002payables\u2002and\u2002amounts\u2002owed\u2002to\u2002joint\u2002ventures\u2002and\u2002associates\u2002approximates\u2002to\u2002their\u2002fair\u2002value. Financial\u2002risk\u2002management\u2002policies\u2002are\u2002in\u2002place\u2002that\u2002seek\u2002to\u2002ensure\u2002that\u2002all\u2002payables\u2002are\u2002paid\u2002within\u2002their\u2002credit\u2002timeframes. 20 Provisions for other liabilities and charges
Rectification
provision Other Total
Group \u00a3m \u00a3m \u00a3m
Current
At\u20021\u2002January\u20022023
8.5
0.9
9.4
Provided
2.2
2.3
4.5
Utilised
(2.8)
(0.1)
(2.9)
Released
\u2013
(0.4)
(0.4)
Reclassified\u2002from\u2002non-current
3.7
\u2013
3.7
At\u200231\u2002December\u20022023
11.6
2.7
14.3
At\u20021\u2002January\u20022024
11.6
2.7
14.3
Provided
2.6
6.6
9.2
Utilised
(8.4)
(0.1)
(8.5)
Released
\u2013
(2.1)
(2.1)
At 31 December 2024
5.8
7.1
12.9
Non-current
At\u20021\u2002January\u20022023
3.7
\u2013
3.7
Reclassified\u2002to\u2002current
(3.7)
\u2013
(3.7)
At\u200231\u2002December\u20022023
\u2013
\u2013
\u2013
At\u20021\u2002January\u20022024
\u2013
\u2013
\u2013
At 31 December 2024
\u2013
\u2013
\u2013
Funding
obligations
Company \u00a3m
Current
At\u20021\u2002January\u20022023 0.1
Reclassified\u2002from\u2002non-current
0.1
Utilised
(0.1)
At\u200231\u2002December\u20022023
0.1
At\u20021\u2002January\u20022024
0.1
Reclassified\u2002from\u2002non-current
0.1
Utilised
(0.1)
At 31 December 2024
0.1
Non-current
At\u20021\u2002January\u20022023\u20020.7\u2002
Reclassified\u2002to\u2002current
(0.1)
At\u200231\u2002December\u20022023
0.6
At\u20021\u2002January\u20022024
0.6
Reclassified\u2002to\u2002current
(0.1)
At 31 December 2024
0.5
Group
Rectification\u2002provision:\u2002Contract\u2002in\u2002the\u2002water\u2002sector
In\u20022021,\u2002Costain\u2002recognised\u2002a\u2002provision\u2002in\u2002respect\u2002of\u2002the\u2002estimated\u2002future\u2002costs\u2002of\u2002expected\u2002rectification\u2002works\u2002required\u2002at\u2002a\u2002customer\u2019s\u2002
water\u2002treatment\u2002facility\u2002where\u2002the\u2002Group\u2002had\u2002been\u2002prime\u2002contractor.
During\u20022024,\u2002the\u2002detailed\u2002design\u2002of\u2002the\u2002solution\u2002has\u2002been\u2002completed\u2002and\u2002works\u2002have\u2002commenced\u2002on\u2002site.\u2002Costs\u2002of\u2002\u00a316.1m\u2002have\u2002been\u2002
incurred\u2002to\u2002date\u2002against\u2002a\u2002revised\u2002total\u2002estimated\u2002cost\u2002of\u2002\u00a321.9m,\u2002with\u2002this\u2002increase\u2002predominantly\u2002as\u2002a\u2002result\u2002of\u2002civils\u2002costs\u2002and\u2002delays\u2002
in\u2002the\u2002supply\u2002chain.\u2002The\u2002provision\u2002disclosed\u2002in\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002is\u2002therefore\u2002\u00a35.8m.\u2002Work\u2002is\u2002now\u2002due\u2002to\u2002be\u2002completed\u2002
in\u20022025.\u2002
As\u2002first\u2002reported\u2002in\u20022022,\u2002Costain\u2002has\u2002engaged\u2002with\u2002its\u2002insurers\u2002and\u2002received\u2002confirmation\u2002that\u2002insurance\u2002cover\u2002is\u2002available\u2002and\u2002that\u2002all\u2002
reasonable\u2002costs\u2002of\u2002rectification\u2002work\u2002that\u2002are\u2002validly\u2002incurred\u2002will\u2002be\u2002met\u2002by\u2002insurers.\u2002Consistent\u2002with\u2002this,\u2002insurers\u2002continued\u2002to\u2002make\u2002
interim\u2002payments\u2002on\u2002account\u2002during\u20022024.\u2002Accordingly,\u2002an\u2002insurance\u2002receivable\u2002of\u2002\u00a38.8m\u2002is\u2002recognised\u2002in\u2002the\u2002statement\u2002of\u2002financial\u2002
position\u2002at\u200231\u2002December\u20022024\u2002in\u2002accordance\u2002with\u2002IAS\u200237\u2002on\u2002the\u2002basis\u2002that\u2002recovery\u2002is\u2002considered\u2002virtually\u2002certain\u2002and\u2002is\u2002expected\u2002
in\u20022025.\u2002There\u2002is\u2002a\u2002cap\u2002on\u2002insurance\u2002but\u2002the\u2002cap\u2002is\u2002significantly\u2002in\u2002excess\u2002of\u2002the\u2002cost\u2002estimate.\u2002As\u2002at\u200231\u2002December\u20022023\u2002and\u20022022\u2002
respectively,\u2002\u00a312.7m\u2002and\u2002\u00a313.4m\u2002had\u2002been\u2002recognised\u2002as\u2002an\u2002insurance\u2002receivable.
Whilst\u2002the\u2002cost\u2002provision\u2002is\u2002management\u2019s\u2002best\u2002estimate,\u2002there\u2002may\u2002be\u2002variances\u2002to\u2002this\u2002estimate\u2002due\u2002to\u2002unforeseen\u2002events.\u2002
It\u2002is\u2002therefore\u2002reasonably\u2002foreseeable\u2002that\u2002adjustments\u2002to\u2002the\u2002amounts\u2002recognised\u2002as\u2002a\u2002provision\u2002may\u2002be\u2002required.
However,\u2002given\u2002the\u2002relationship\u2002between\u2002the\u2002insurance\u2002policy\u2002and\u2002the\u2002liability,\u2002management\u2002does\u2002not\u2002consider\u2002that\u2002any\u2002increase\u2002
in\u2002the\u2002cost\u2002of\u2002the\u2002rectification\u2002works\u2002will\u2002result\u2002in\u2002a\u2002material\u2002impact\u2002to\u2002the\u2002Group\u2019s\u2002financial\u2002position.
Further\u2002information\u2002on\u2002estimates\u2002and\u2002judgements\u2002made\u2002in\u2002relation\u2002to\u2002this\u2002provision\u2002are\u2002given\u2002in\u2002note\u20022.
Other\u2002provisions\u2002mainly\u2002comprise\u2002provisions\u2002for\u2002dilapidations\u2002which\u2002are\u2002expected\u2002to\u2002be\u2002utilised\u2002in\u2002line\u2002with\u2002cessation\u2002of\u2002the\u2002relevant\u2002
leases\u2002and\u2002a\u2002provision\u2002for\u2002a\u2002fire\u2002safety\u2002compliance\u2002claim\u2002(see\u2002note\u20023),\u2002which\u2002is\u2002expected\u2002to\u2002be\u2002utilised\u2002in\u2002the\u2002next\u2002year.
Company
Provisions\u2002in\u2002the\u2002Company\u2002relate\u2002to\u2002funding\u2002obligations\u2002to\u2002a\u2002non-trading\u2002overseas\u2002subsidiary,\u2002which\u2002eliminate\u2002on\u2002consolidation.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-436": { "value": "15 Assets and liabilities related to contracts with customers The\u2002Group\u2002has\u2002recognised\u2002the\u2002following\u2002assets\u2002and\u2002liabilities\u2002related\u2002to\u2002contracts\u2002with\u2002customers,\u2002in\u2002addition\u2002to\u2002amounts\u2002included\u2002in\u2002trade\u2002receivables\u2002and\u2002trade\u2002payables:
2023
2024 (as restated)*
\u00a3m \u00a3m
Contract\u2002assets
84.0
84.8
Contract\u2002liabilities
(56.2)
(63.0)
*\u2002 See\u2002note\u200226\u2002for\u2002more\u2002information\u2002on\u2002restatements. Contract\u2002assets\u2002is\u2002made\u2002up\u2002of\u2002a\u2002portfolio\u2002of\u2002contracts\u2002and\u2002represents\u2002amounts\u2002arising\u2002from\u2002changes\u2002to\u2002the\u2002scope\u2002of\u2002works\u2002that\u2002have\u2002been\u2002recognised\u2002as\u2002revenue\u2002but\u2002not\u2002yet\u2002billed\u2002to\u2002the\u2002customer.\u2002There\u2002are\u2002no\u2002other\u2002significant\u2002one-off\u2002factors\u2002outside\u2002of\u2002normal\u2002trading\u2002contributing\u2002to\u2002the\u2002decrease\u2002in\u2002contract\u2002assets. Contract\u2002liabilities\u2002result\u2002when\u2002cumulative\u2002cash\u2002received\u2002exceeds\u2002cumulative\u2002revenue\u2002on\u2002any\u2002particular\u2002contract.\u2002On\u2002contracts\u2002undertaken\u2002by\u2002the\u2002Group,\u2002this\u2002typically\u2002results\u2002from\u2002work\u2002being\u2002undertaken,\u2002or\u2002on\u2002framework\u2002contracts\u2002awarded,\u2002in\u2002a\u2002different\u2002order\u2002to\u2002the\u2002programme\u2002envisaged\u2002in\u2002the\u2002contractual\u2002payments\u2002schedule.\u2002There\u2002are\u2002no\u2002significant\u2002one-off\u2002factors\u2002outside\u2002of\u2002normal\u2002trading\u2002contributing\u2002to\u2002the\u2002decrease\u2002in\u2002contract\u2002liabilities. Revenue\u2002recognised\u2002in\u20022024\u2002from\u2002performance\u2002obligations\u2002satisfied\u2002in\u2002previous\u2002periods\u2002was\u2002immaterial. The\u2002aggregate\u2002amount\u2002of\u2002costs\u2002incurred\u2002plus\u2002recognised\u2002profits,\u2002less\u2002recognised\u2002losses,\u2002for\u2002all\u2002contracts\u2002in\u2002progress\u2002at\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002date\u2002was\u2002\u00a34,814.0m\u2002(2023:\u2002\u00a34,116.8m).\u2002Progress\u2002billings\u2002and\u2002advances\u2002received\u2002from\u2002customers\u2002under\u2002open\u2002construction\u2002contracts\u2002amounted\u2002to\u2002\u00a34,788.1m\u2002(2023:\u2002\u00a34,098.4m).\u2002Advances\u2002for\u2002which\u2002work\u2002has\u2002not\u2002started,\u2002and\u2002billings\u2002in\u2002excess\u2002of\u2002costs\u2002incurred\u2002and\u2002recognised\u2002profits\u2002are\u2002included\u2002in\u2002contract\u2002liabilities. Unsatisfied long-term contracts The\u2002following\u2002table\u2002shows\u2002unsatisfied\u2002performance\u2002obligations\u2002resulting\u2002from\u2002long-term\u2002contracts:
2024 2023
\u00a3m \u00a3m
Aggregate\u2002amount\u2002of\u2002the\u2002transaction\u2002price\u2002allocated\u2002to\u2002long-term\u2002
contracts\u2002that\u2002are\u2002partially\u2002or\u2002fully\u2002unsatisfied\u2002as\u2002at\u200231\u2002December
2,099.7
1,826.2
Management\u2002expects\u2002that\u2002approximately\u200237%\u2002of\u2002the\u2002transaction\u2002price\u2002allocated\u2002to\u2002the\u2002unsatisfied\u2002contracts\u2002as\u2002of\u200231\u2002December\u20022024\u2002will\u2002be\u2002recognised\u2002as\u2002revenue\u2002during\u2002the\u2002next\u2002reporting\u2002period\u2002(\u00a3772.7m).\u2002Of\u2002the\u2002remaining\u200263%,\u200235%\u2002will\u2002be\u2002recognised\u2002during\u20022026\u2002to\u20022028. Mobilisation costs and costs incurred to obtain a contract The\u2002Group\u2002does\u2002not\u2002have\u2002any\u2002assets\u2002relating\u2002to\u2002mobilisation\u2002costs\u2002or\u2002costs\u2002incurred\u2002to\u2002obtain\u2002a\u2002contract. 16 Trade and other receivables
Group
Company
2023
2024 (as restated)* 2024 2023
\u00a3m \u00a3m \u00a3m \u00a3m
Amounts included in current assets
Trade\u2002receivables
54.6
68.1
\u2013
\u2013
Other\u2002receivables
20.6
22.3
\u2013
\u2013
Contract\u2002assets
84.0
84.8
\u2013
\u2013
Prepayments
26.1
23.1
0.6
0.9
185.3
198.3
0.6
0.9
Amounts included in non-current assets
Other\u2002receivables
4.3
4.2
\u2013
\u2013
*\u2002 See\u2002note\u200226\u2002for\u2002more\u2002information\u2002on\u2002restatements. At\u200231\u2002December\u20022024,\u2002trade\u2002receivables\u2002falling\u2002due\u2002within\u2002one\u2002year\u2002include\u2002retentions\u2002of\u2002\u00a34.4m\u2002(2023:\u2002\u00a33.4m)\u2002relating\u2002to\u2002long-term\u2002contracts\u2002in\u2002progress.\u2002Other\u2002receivables\u2002falling\u2002due\u2002after\u2002more\u2002than\u2002one\u2002year\u2002include\u2002retentions\u2002of\u2002\u00a34.3m\u2002(2023:\u2002\u00a34.2m)\u2002relating\u2002to\u2002long-term\u2002contracts\u2002in\u2002progress. The\u2002average\u2002credit\u2002period\u2002within\u2002trade\u2002receivables\u2002on\u2002amounts\u2002billed\u2002for\u2002construction\u2002work\u2002and\u2002on\u2002sales\u2002of\u2002goods\u2002is\u200235\u2002days\u2002(2023\u2002(as\u2002restated)*:\u200233\u2002days).\u2002An\u2002analysis\u2002of\u2002trade\u2002receivables\u2002ageing\u2002is\u2002shown\u2002in\u2002note\u200218.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-389": { "value": "16 Trade and other receivables
Group
Company
2023
2024 (as restated)* 2024 2023
\u00a3m \u00a3m \u00a3m \u00a3m
Amounts included in current assets
Trade\u2002receivables
54.6
68.1
\u2013
\u2013
Other\u2002receivables
20.6
22.3
\u2013
\u2013
Contract\u2002assets
84.0
84.8
\u2013
\u2013
Prepayments
26.1
23.1
0.6
0.9
185.3
198.3
0.6
0.9
Amounts included in non-current assets
Other\u2002receivables
4.3
4.2
\u2013
\u2013
*\u2002 See\u2002note\u200226\u2002for\u2002more\u2002information\u2002on\u2002restatements. At\u200231\u2002December\u20022024,\u2002trade\u2002receivables\u2002falling\u2002due\u2002within\u2002one\u2002year\u2002include\u2002retentions\u2002of\u2002\u00a34.4m\u2002(2023:\u2002\u00a33.4m)\u2002relating\u2002to\u2002long-term\u2002contracts\u2002in\u2002progress.\u2002Other\u2002receivables\u2002falling\u2002due\u2002after\u2002more\u2002than\u2002one\u2002year\u2002include\u2002retentions\u2002of\u2002\u00a34.3m\u2002(2023:\u2002\u00a34.2m)\u2002relating\u2002to\u2002long-term\u2002contracts\u2002in\u2002progress. The\u2002average\u2002credit\u2002period\u2002within\u2002trade\u2002receivables\u2002on\u2002amounts\u2002billed\u2002for\u2002construction\u2002work\u2002and\u2002on\u2002sales\u2002of\u2002goods\u2002is\u200235\u2002days\u2002(2023\u2002(as\u2002restated)*:\u200233\u2002days).\u2002An\u2002analysis\u2002of\u2002trade\u2002receivables\u2002ageing\u2002is\u2002shown\u2002in\u2002note\u200218.", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-357": { "value": "16 Trade and other receivables
Group
Company
2023
2024 (as restated)* 2024 2023
\u00a3m \u00a3m \u00a3m \u00a3m
Amounts included in current assets
Trade\u2002receivables
54.6
68.1
\u2013
\u2013
Other\u2002receivables
20.6
22.3
\u2013
\u2013
Contract\u2002assets
84.0
84.8
\u2013
\u2013
Prepayments
26.1
23.1
0.6
0.9
185.3
198.3
0.6
0.9
Amounts included in non-current assets
Other\u2002receivables
4.3
4.2
\u2013
\u2013
*\u2002 See\u2002note\u200226\u2002for\u2002more\u2002information\u2002on\u2002restatements. At\u200231\u2002December\u20022024,\u2002trade\u2002receivables\u2002falling\u2002due\u2002within\u2002one\u2002year\u2002include\u2002retentions\u2002of\u2002\u00a34.4m\u2002(2023:\u2002\u00a33.4m)\u2002relating\u2002to\u2002long-term\u2002contracts\u2002in\u2002progress.\u2002Other\u2002receivables\u2002falling\u2002due\u2002after\u2002more\u2002than\u2002one\u2002year\u2002include\u2002retentions\u2002of\u2002\u00a34.3m\u2002(2023:\u2002\u00a34.2m)\u2002relating\u2002to\u2002long-term\u2002contracts\u2002in\u2002progress. The\u2002average\u2002credit\u2002period\u2002within\u2002trade\u2002receivables\u2002on\u2002amounts\u2002billed\u2002for\u2002construction\u2002work\u2002and\u2002on\u2002sales\u2002of\u2002goods\u2002is\u200235\u2002days\u2002(2023\u2002(as\u2002restated)*:\u200233\u2002days).\u2002An\u2002analysis\u2002of\u2002trade\u2002receivables\u2002ageing\u2002is\u2002shown\u2002in\u2002note\u200218.", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-358": { "value": "
17 Cash and cash equivalents, loans and borrowings
Cash and cash equivalents
Cash\u2002and\u2002cash\u2002equivalents\u2002are\u2002analysed\u2002below\u2002and\u2002include\u2002the\u2002Group\u2019s\u2002share\u2002of\u2002cash\u2002held\u2002by\u2002joint\u2002operations\u2002of\u2002\u00a362.7m\u2002(2023:\u2002\u00a359.2m).
Group
Company
2024 2023 2024 2023
\u00a3m \u00a3m \u00a3m \u00a3m
Cash\u2002and\u2002cash\u2002equivalents
158.5
164.4
77.5
81.8
Cash and cash equivalents in
the cash flow statement
158.5
164.4
77.5
81.8
Cash and cash equivalents \u2013 with restrictions
\u2018Cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions\u2019\u2002comprise\u2002amounts\u2002held\u2002in\u2002trust\u2002accounts\u2002on\u2002behalf\u2002of\u2002certain\u2002customers\u2002and\u2002designated\u2002
for\u2002future\u2002payment\u2002to\u2002suppliers\u2002(see\u2002note\u200226).
Group
Company
2023
2024 (as restated)* 2024 2023
\u00a3m \u00a3m \u00a3m \u00a3m
Cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions
38.4
24.4
\u2013
\u2013
Cash and cash equivalents \u2013 with restrictions in
the cash flow statement
38.4
24.4
\u2013
\u2013
Cash flow information
Net\u2002cash/(debt)\u2002reconciliation
This\u2002section\u2002sets\u2002out\u2002an\u2002analysis\u2002of\u2002net\u2002cash/(debt)\u2002and\u2002movements\u2002in\u2002net\u2002cash/(debt)\u2002during\u2002the\u2002year.
Group
Company
2023
2024 (as restated)* 2024 2023
\u00a3m \u00a3m \u00a3m \u00a3m
Cash\u2002and\u2002cash\u2002equivalents\u2002(including\u2002cash\u2002with\u2002restrictions)
196.9
188.8
77.5
81.8
Less\u2002Cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions
(38.4)
(24.4)
\u2013
\u2013
Net\u2002cash\u2002before\u2002lease\u2002liabilities
158.5
164.4
77.5
81.8
Lease\u2002liabilities\u2002(note\u200213)
(25.8)
(24.3)
\u2013
\u2013
Net\u2002cash
132.7
140.1
77.5
81.8
Cash and cash
equivalents Less Cash and cash
(including cash with equivalents \u2013 with
restrictions) restrictions
(as restated)* (as restated)* Lease liabilities Total
Group \u00a3m \u00a3m \u00a3m \u00a3m
Net\u2002cash/(debt)\u2002at\u20021\u2002January\u20022023
134.1
(10.3)
(29.5)
94.3
Cash\u2002flows
54.7
(14.1)
12.6
53.2
New\u2002leases
\u2013
\u2013
(10.2)
(10.2)
Disposal\u2002of\u2002leases
\u2013
\u2013
2.8
2.8
Interest\u2002expense
\u2013
\u2013
(1.5)
(1.5)
Interest\u2002payments\u2002(presented\u2002as\u2002operating\u2002cash\u2002flows)
\u2013
\u2013
1.5
1.5
Net\u2002cash/(debt)\u2002at\u200231\u2002December\u20022023
188.8
(24.4)
(24.3)
140.1
Net\u2002cash/(debt)\u2002at\u20021\u2002January\u20022024
188.8
(24.4)
(24.3)
140.1
Cash\u2002flows
8.1
(14.0)
11.3
5.4
New\u2002leases
\u2013
\u2013
(18.5)
(18.5)
Disposal\u2002of\u2002leases
\u2013
\u2013
5.7
5.7
Interest\u2002expense
\u2013
\u2013
(2.5)
(2.5)
Interest\u2002payments\u2002(presented\u2002as\u2002operating\u2002cash\u2002flows)
\u2013
\u2013
2.5
2.5
Net\u2002cash/(debt)\u2002at\u200231\u2002December\u20022024
196.9
(38.4)
(25.8)
132.7
Cash and cash
equivalents
Company \u00a3m
Net\u2002cash/(debt)\u2002at\u20021\u2002January\u20022023
0.1
Cash\u2002flows
81.7
Net\u2002cash\u2002at\u200231\u2002December\u20022023
81.8
Net\u2002cash/(debt)\u2002at\u20021\u2002January\u20022024
81.8
Cash\u2002flows
(4.3)
Net\u2002cash\u2002at\u200231\u2002December\u20022024
77.5
18 Financial instruments \u2013 Fair values and risk management Risk management The\u2002Group\u2019s\u2002centralised\u2002treasury\u2002function\u2002manages\u2002financial\u2002risk,\u2002principally\u2002arising\u2002from\u2002liquidity\u2002and\u2002funding\u2002risks\u2002and\u2002movements\u2002in\u2002foreign\u2002currency\u2002rates\u2002and\u2002interest\u2002rates,\u2002for\u2002all\u2002companies\u2002within\u2002the\u2002Group\u2002in\u2002accordance\u2002with\u2002policies\u2002agreed\u2002by\u2002the\u2002directors. Neither\u2002the\u2002Company\u2002nor\u2002the\u2002Group\u2002enters\u2002into\u2002speculative\u2002transactions. a)\u2002Capital\u2002management The\u2002objective\u2002of\u2002the\u2002Group\u2019s\u2002strategy\u2002is\u2002to\u2002deliver\u2002long-term\u2002sustainable\u2002value\u2002to\u2002shareholders\u2002while\u2002maintaining\u2002a\u2002balanced\u2002approach\u2002to\u2002investment\u2002in\u2002the\u2002business,\u2002a\u2002strong\u2002balance\u2002sheet\u2002and\u2002returns\u2002to\u2002shareholders.\u2002Costain\u2002is\u2002targeting\u2002a\u2002dividend\u2002cover\u2002of\u2002around\u2002three\u2002times\u2002adjusted\u2002earnings,\u2002taking\u2002into\u2002account\u2002the\u2002cash\u2002flow\u2002generated\u2002in\u2002the\u2002period,\u2002and\u2002the\u2002potential\u2002impact\u2002of\u2002the\u2002\u2018dividend\u2002parity\u2019\u2002arrangement\u2002relating\u2002to\u2002the\u2002defined\u2002benefit\u2002pension\u2002scheme. An\u2002interim\u2002dividend\u2002of\u20020.4p\u2002per\u2002share\u2002was\u2002paid\u2002for\u2002the\u2002six\u2002months\u2002ended\u200230\u2002June\u20022024.\u2002The\u2002Board\u2002is\u2002proposing\u2002a\u2002final\u2002dividend\u2002of\u20022.0p\u2002per\u2002share. b)\u2002Liquidity\u2002and\u2002funding\u2002risk Ultimate\u2002responsibility\u2002for\u2002liquidity\u2002and\u2002funding\u2002risk\u2002rests\u2002with\u2002the\u2002Board,\u2002which\u2002has\u2002put\u2002in\u2002place\u2002a\u2002monitoring\u2002and\u2002reporting\u2002framework\u2002to\u2002manage\u2002funding\u2002requirements. Liquidity\u2002risk\u2002is\u2002managed\u2002by\u2002monitoring\u2002actual\u2002and\u2002forecast\u2002short\u2002and\u2002medium-term\u2002cash\u2002flows\u2002and\u2002the\u2002maturity\u2002profile\u2002of\u2002financial\u2002assets\u2002and\u2002liabilities\u2002and\u2002by\u2002maintaining\u2002adequate\u2002cash\u2002reserves\u2002and\u2002bank\u2002facilities.\u2002The\u2002nature\u2002and\u2002timing\u2002of\u2002the\u2002contract\u2002cash\u2002flows,\u2002together\u2002with\u2002the\u2002change\u2002in\u2002business\u2002mix,\u2002is\u2002causing\u2002the\u2002cash\u2002balances\u2002to\u2002reflect\u2002minimal\u2002variances\u2002between\u2002the\u2002average\u2002month-end\u2002and\u2002week-end\u2002balances\u2002during\u2002the\u2002year. The\u2002average\u2002month-end\u2002net\u2002cash\u2002balance\u2002on\u2002cash\u2002and\u2002cash\u2002equivalents\u2002during\u2002the\u2002year\u2002was\u2002\u00a3169.4m\u2002(2023:\u2002\u00a3141.4m)\u2002and\u2002the\u2002average\u2002week-end\u2002net\u2002cash\u2002balance\u2002on\u2002cash\u2002and\u2002cash\u2002equivalents\u2002during\u2002the\u2002year\u2002was\u2002\u00a3164.3m\u2002(2023:\u2002\u00a3141.0m). Customers\u2002awarding\u2002long-term\u2002contracting\u2002work\u2002may,\u2002as\u2002a\u2002condition\u2002of\u2002the\u2002award,\u2002require\u2002the\u2002contractor\u2002to\u2002provide\u2002performance\u2002and\u2002other\u2002bonds.\u2002Consequently,\u2002the\u2002Group\u2002is\u2002reliant\u2002on\u2002its\u2002ability\u2002to\u2002source\u2002bank\u2002and\u2002surety\u2002bonds.\u2002It\u2002has\u2002facilities\u2002in\u2002place\u2002to\u2002provide\u2002these\u2002bonds\u2002and\u2002monitors\u2002the\u2002usage\u2002and\u2002regularly\u2002updates\u2002the\u2002forecast\u2002usage\u2002of\u2002these\u2002facilities. At\u200231\u2002December\u20022024,\u2002the\u2002Group\u2002had\u2002banking\u2002and\u2002bonding\u2002facilities,\u2002including\u2002a\u2002\u00a385.0m\u2002Revolving\u2002Credit\u2002Facility,\u2002extending\u2002to\u200224\u2002September\u20022026\u2002(2023:\u2002\u00a385.0m\u2002Revolving\u2002Credit\u2002Facility,\u2002extending\u2002to\u200224\u2002September\u20022026).\u2002The\u2002unsecured\u2002facilities\u2002have\u2002financial\u2002covenants\u2002based\u2002on\u2002interest\u2002cover\u2002and\u2002leverage\u2002measured\u2002quarterly\u2002and\u2002liquidity\u2002measured\u2002monthly.\u2002The\u2002covenants\u2002are\u2002based\u2002on\u2002accounting\u2002standards\u2002already\u2002in\u2002force\u2002at\u2002the\u2002date\u2002of\u2002signing\u2002the\u2002facilities\u2002and\u2002any\u2002subsequent\u2002agreements.\u2002The\u2002Group\u2002complied\u2002with\u2002all\u2002covenants\u2002in\u20022024.\u2002The\u2002unsecured\u2002bonding\u2002facilities\u2002are\u2002set\u2002out\u2002below:
Group and Company
2024 2023
\u00a3m \u00a3m
Expiring\u2002between\u2002one\u2002and\u2002five\u2002years
270.0
270.0
Element\u2002of\u2002above\u2002facilities\u2002available\u2002for\u2002borrowings
\u2013
\u2013
At\u200231\u2002December\u20022024,\u2002the\u2002utilisation\u2002of\u2002these\u2002bonding\u2002facilities\u2002amounted\u2002to\u2002\u00a365.3m\u2002(2023:\u2002\u00a369.8m). c)\u2002Credit\u2002risk The\u2002Group\u2002focuses\u2002on\u2002major\u2002Tier\u20021\u2002private\u2002sector\u2002and\u2002large\u2002public\u2002sector\u2002customers.\u2002In\u2002respect\u2002of\u2002contracts\u2002with\u2002customers,\u2002the\u2002Group\u2002uses\u2002an\u2002external\u2002credit\u2002scoring\u2002system\u2002to\u2002assess\u2002a\u2002potential\u2002customer\u2019s\u2002credit\u2002quality\u2002and\u2002considers\u2002the\u2002timing\u2002and\u2002amounts\u2002of\u2002progress\u2002payments\u2002and\u2002will\u2002enter\u2002into\u2002a\u2002contract\u2002only\u2002if\u2002these\u2002assessments\u2002are\u2002satisfactory. To\u2002measure\u2002the\u2002expected\u2002credit\u2002losses,\u2002trade\u2002receivables\u2002and\u2002contract\u2002assets\u2002have\u2002been\u2002grouped\u2002based\u2002on\u2002shared\u2002credit\u2002risk\u2002characteristics\u2002and\u2002the\u2002days\u2002past\u2002due.\u2002Group\u20021\u2002comprises\u2002major\u2002Tier\u20021\u2002private\u2002sector\u2002and\u2002large\u2002public\u2002sector\u2002customers.\u2002Group\u20022\u2002includes\u2002smaller\u2002customers\u2002and\u2002receivables\u2002arising\u2002from\u2002various\u2002additional\u2002services\u2002undertaken\u2002as\u2002requirements\u2002of\u2002some\u2002of\u2002the\u2002maintenance\u2002contracts.\u2002Revenue\u2002of\u2002\u00a31,243.3m\u2002(2023:\u2002\u00a31,322.2m)\u2002was\u2002attributable\u2002to\u2002Group\u20021\u2002customers\u2002and\u2002\u00a37.8m\u2002(2023:\u2002\u00a39.8m)\u2002attributable\u2002to\u2002Group\u20022\u2002customers. The\u2002contract\u2002assets\u2002relate\u2002to\u2002unbilled\u2002work\u2002in\u2002progress\u2002and\u2002have\u2002substantially\u2002the\u2002same\u2002credit\u2002risk\u2002characteristics\u2002as\u2002the\u2002trade\u2002receivables\u2002for\u2002the\u2002same\u2002types\u2002of\u2002contracts.\u2002The\u2002Group\u2002has\u2002concluded\u2002that\u2002the\u2002expected\u2002loss\u2002rates\u2002for\u2002trade\u2002receivables\u2002are\u2002a\u2002reasonable\u2002approximation\u2002of\u2002the\u2002loss\u2002rates\u2002for\u2002the\u2002contract\u2002assets.\u2002
The\u2002expected\u2002loss\u2002rates\u2002are\u2002adjusted\u2002to\u2002reflect\u2002current\u2002and\u2002forward-looking\u2002information\u2002on\u2002macroeconomic\u2002factors\u2002that\u2002might\u2002affect\u2002the\u2002
ability\u2002of\u2002the\u2002customers\u2002to\u2002settle\u2002the\u2002receivables.
On\u2002this\u2002basis,\u2002the\u2002loss\u2002allowance\u2002as\u2002at\u200231\u2002December\u20022024\u2002and\u200231\u2002December\u20022023\u2002was\u2002determined\u2002as\u2002follows\u2002for\u2002both\u2002trade\u2002receivables\u2002
and\u2002contract\u2002assets:
Less than 60 to 120 days More than 120 days
Current 60 days past due past due
past due
Total
31 December 2024
Group 1
Expected\u2002loss\u2002rate
0.00%
0.10%
0.25%
0.50%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trade\u2002receivables
40.5
13.4
0.1
0.3
54.3
Contract\u2002assets
60.8
13.6
2.5
7.1
84.0
Loss allowance
\u2013
\u2013
\u2013
\u2013
\u2013
Group 2
Expected\u2002loss\u2002rate
1.0%
2.0%
15.0%
30.0%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trade\u2002receivables
0.1
0.2
\u2013
\u2013
0.3
Contract\u2002assets
\u2013
\u2013
\u2013
\u2013
\u2013
Loss allowance
\u2013
\u2013
\u2013
\u2013
\u2013
31 December 2023
Group 1
Expected\u2002loss\u2002rate
0.00%
0.10%
0.25%
0.50%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trade\u2002receivables\u2002(as\u2002restated)*
54.1
11.9
1.7
0.2
67.9
Contract\u2002assets\u2002(as\u2002restated)*
71.7
6.4
2.0
4.7
84.8
Loss allowance
\u2013
\u2013
\u2013
\u2013
\u2013
Group 2
Expected\u2002loss\u2002rate
1.0%
2.0%
15.0%
30.0%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trade\u2002receivables
0.1
\u2013
\u2013
0.1
0.2
Contract\u2002assets
\u2013
\u2013
\u2013
\u2013
\u2013
Loss allowance
\u2013
\u2013
\u2013
\u2013
\u2013
*\u2002 See\u2002note\u200226\u2002for\u2002more\u2002information\u2002on\u2002restatements.
Impairment\u2002losses\u2002on\u2002trade\u2002receivables\u2002and\u2002contract\u2002assets\u2002are\u2002included\u2002within\u2002operating\u2002profit.\u2002Subsequent\u2002recoveries\u2002of\u2002amounts\u2002
previously\u2002written\u2002off\u2002are\u2002credited\u2002against\u2002the\u2002same\u2002line\u2002item.\u2002The\u2002total\u2002provision\u2002for\u2002impairment\u2002of\u2002trade\u2002and\u2002other\u2002receivables\u2002is\u2002\u00a30.1m\u2002
(2023:\u2002\u00a30.3m).\u2002The\u2002credit\u2002risk\u2002in\u2002contract\u2002assets\u2002is\u2002not\u2002material.
There\u2002is\u2002no\u2002material\u2002credit\u2002risk\u2002associated\u2002with\u2002non-current\u2002retentions\u2002as\u2002assessed\u2002in\u2002accordance\u2002with\u2002the\u2002simplified\u2002expected\u2002credit\u2002
loss\u2002model.
There\u2002is\u2002no\u2002material\u2002credit\u2002risk\u2002associated\u2002with\u2002other\u2002receivables\u2002(excluding\u2002non-current\u2002retentions)\u2002as\u2002assessed\u2002in\u2002accordance\u2002with\u2002the\u2002
12\u2002month\u2002expected\u2002credit\u2002loss\u2002model.
Deposits\u2002in\u2002the\u2002UK\u2002are\u2002placed\u2002with\u2002bank\u2002facility\u2002providers\u2002or,\u2002in\u2002joint\u2002operations,\u2002with\u2002banks\u2002agreed\u2002by\u2002the\u2002partners,\u2002provided\u2002that\u2002the\u2002
bank\u2002has\u2002a\u2002long-term\u2002credit\u2002rating\u2002above\u2002BBB-.\u2002Given\u2002the\u2002high\u2002credit\u2002ratings\u2002of\u2002the\u2002banks\u2002and\u2002insurance\u2002companies\u2002used,\u2002management\u2002
does\u2002not\u2002expect\u2002any\u2002counterparty\u2002will\u2002fail\u2002to\u2002meet\u2002its\u2002obligations.
At\u2002the\u2002year-end\u2002date,\u2002excluding\u2002UK\u2002Government\u2002bodies,\u2002there\u2002were\u2002no\u2002significant\u2002concentrations\u2002of\u2002credit\u2002risk.\u2002The\u2002maximum\u2002exposure\u2002
to\u2002credit\u2002risk\u2002is\u2002represented\u2002by\u2002the\u2002carrying\u2002amounts\u2002of\u2002each\u2002financial\u2002asset\u2002and\u2002the\u2002individual\u2002constituents\u2002of\u2002contract\u2002assets\u2002in\u2002the\u2002
statement\u2002of\u2002financial\u2002position.\u2002
d)\u2002Interest\u2002rate\u2002risk The\u2002Group\u2002has\u2002cash\u2002balances\u2002and\u2002bank\u2002facilities\u2002in\u2002the\u2002UK,\u2002mostly\u2002denominated\u2002in\u2002pounds\u2002sterling. As\u2002there\u2002are\u2002no\u2002borrowings\u2002at\u2002the\u20022024\u2002year-end,\u2002interest\u2002rate\u2002risk\u2002is\u2002negligible. e)\u2002Foreign\u2002currency\u2002risk Transactional\u2002currency\u2002exposures\u2002arise\u2002from\u2002sales\u2002or\u2002purchases\u2002by\u2002operating\u2002companies\u2002in\u2002currencies\u2002other\u2002than\u2002their\u2002functional\u2002currency.\u2002The\u2002current\u2002strategy\u2002is\u2002to\u2002hedge\u2002both\u2002committed\u2002and\u2002forecast\u2002foreign\u2002currency\u2002exposures,\u2002where\u2002applicable,\u2002and\u2002where\u2002the\u2002transaction\u2002timing\u2002and\u2002amount\u2002can\u2002be\u2002determined\u2002reliably\u2002and\u2002no\u2002natural\u2002hedge\u2002exists.\u2002The\u2002Group\u2002only\u2002enters\u2002into\u2002forward\u2002contracts\u2002when\u2002a\u2002contractual\u2002commitment\u2002exists\u2002in\u2002respect\u2002of\u2002the\u2002foreign\u2002currency\u2002transaction\u2002and\u2002the\u2002Group\u2019s\u2002policy\u2002is\u2002to\u2002negotiate\u2002the\u2002terms\u2002of\u2002the\u2002hedge\u2002derivative\u2002to\u2002match\u2002the\u2002terms\u2002of\u2002the\u2002hedged\u2002item\u2002to\u2002maximise\u2002hedge\u2002effectiveness.\u2002The\u2002Group\u2019s\u2002treasury\u2002function\u2002evaluates\u2002and\u2002hedges\u2002foreign\u2002currency\u2002risks,\u2002in\u2002close\u2002cooperation\u2002with\u2002the\u2002responsible\u2002operational\u2002management\u2002team. Financial assets and liabilities The\u2002Group\u2002has\u2002grouped\u2002its\u2002financial\u2002instruments\u2002into\u2002\u2018classes\u2019.\u2002Although\u2002IFRS\u20027\u2002does\u2002not\u2002define\u2002\u2018classes\u2019,\u2002as\u2002a\u2002minimum\u2002instruments\u2002measured\u2002at\u2002amortised\u2002cost\u2002should\u2002be\u2002distinguished\u2002from\u2002instruments\u2002measured\u2002at\u2002fair\u2002value. a)\u2002Currency\u2002and\u2002maturity\u2002of\u2002financial\u2002assets Financial\u2002assets\u2002not\u2002measured\u2002at\u2002fair\u2002value
2024
2023
Between Between
Within one and After five Within one and After five
Total one year five years years Total one year five years years
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Cash\u2002and\u2002cash\u2002equivalents:
pounds\u2002sterling
158.2
158.2
\u2013
\u2013
163.9
163.9
\u2013
\u2013
other
0.3
0.3
\u2013
\u2013
0.5
0.5
\u2013
\u2013
158.5
158.5
\u2013
\u2013
164.4
164.4
\u2013
\u2013
Cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with
restrictions:
pounds\u2002sterling\u2002(as\u2002restated)*
38.4
38.4
\u2013
\u2013
24.4
24.4
\u2013
\u2013
38.4
38.4
\u2013
\u2013
24.4
24.4
\u2013
\u2013
Trade\u2002and\u2002other\u2002receivables:
pounds\u2002sterling\u2002(as\u2002restated)*
79.5
75.2
4.3
\u2013
94.6
90.4
4.2
\u2013
Insurance\u2002recovery\u2002asset:
pounds\u2002sterling
8.8
8.8
\u2013
\u2013
12.7
11.0
1.7
\u2013
88.3
84.0
4.3
\u2013
107.3
101.4
5.9
\u2013
Total financial assets not measured
at fair value (as restated)*
285.2
280.9
4.3
\u2013
296.1
290.2
5.9
\u2013
The\u2002Group\u2002has\u2002not\u2002disclosed\u2002the\u2002fair\u2002values\u2002for\u2002short-term\u2002trade\u2002receivables\u2002within\u2002financial\u2002assets,\u2002because\u2002their\u2002carrying\u2002amounts\u2002are\u2002a\u2002reasonable\u2002approximation\u2002of\u2002fair\u2002values. The\u2002insurance\u2002recovery\u2002asset\u2002is\u2002measured\u2002in\u2002accordance\u2002with\u2002IAS\u200237.
b)\u2002Currency\u2002and\u2002maturity\u2002of\u2002financial\u2002liabilities
Financial\u2002liabilities\u2002not\u2002measured\u2002at\u2002fair\u2002value
2024
2023
Between Between
Within one and Within one and
Total one year five years Total one year five years
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Lease\u2002liabilities\u2002\u2013\u2002pounds\u2002sterling
25.8
13.0
12.8
24.3
10.3
14.0
Trade\u2002payables\u2002and\u2002amounts\u2002owed\u2002to\u2002joint\u2002ventures\u2002and
associates\u2002\u2013\u2002pounds\u2002sterling\u2002(as\u2002re-presented)**
47.3
45.5
1.8
72.1
69.9
2.2
Total financial liabilities not measured at fair value
(as re-presented)**
73.1
58.5
14.6
96.4
80.2
16.2
The\u2002Group\u2002has\u2002not\u2002disclosed\u2002the\u2002fair\u2002values\u2002for\u2002short-term\u2002trade\u2002and\u2002other\u2002payables\u2002and\u2002bank\u2002loans\u2002within\u2002financial\u2002liabilities,\u2002because\u2002
their\u2002carrying\u2002amounts\u2002are\u2002a\u2002reasonable\u2002approximation\u2002of\u2002fair\u2002values.
Lease\u2002liabilities\u2002are\u2002carried\u2002at\u2002the\u2002present\u2002value\u2002of\u2002the\u2002minimum\u2002lease\u2002payments.\u2002The\u2002expected\u2002undiscounted\u2002lease\u2002payments\u2002on\u2002long-
term\u2002and\u2002high\u2002value\u2002leased\u2002assets\u2002included\u2002in\u2002the\u2002IFRS\u200216\u2002discounted\u2002liability\u2002are\u2002within\u2002one\u2002year\u2002\u00a312.1m\u2002(2023:\u2002\u00a313.0m),\u2002two\u2002to\u2002five\u2002years\u2002
\u00a319.3m\u2002(2023:\u2002\u00a323.5m)\u2002and\u2002over\u2002five\u2002years\u2002\u00a37.2m\u2002(2023:\u2002\u00a34.2m).
There\u2002are\u2002no\u2002financial\u2002liabilities\u2002carried\u2002at\u2002fair\u2002value.
The\u2002Company\u2002has\u2002issued\u2002financial\u2002guarantees\u2002relating\u2002to\u2002performance\u2002of\u2002contracts\u2002signed\u2002by\u2002its\u2002subsidiaries,\u2002which\u2002could\u2002be\u2002called\u2002upon\u2002
on\u2002demand\u2002if\u2002the\u2002subsidiary\u2002fails\u2002to\u2002perform\u2002under\u2002the\u2002contract.\u2002However,\u2002the\u2002value\u2002of\u2002these\u2002guarantees\u2002is\u2002difficult\u2002to\u2002quantify,\u2002and\u2002they\u2002
have\u2002never\u2002been\u2002called.
c)\u2002Reconciliation\u2002of\u2002trade\u2002and\u2002other\u2002receivables\u2002and\u2002trade\u2002and\u2002other\u2002payables\u2002to\u2002the\u2002statement\u2002of\u2002financial\u2002position
2024
2023
Current Non-current Current Non-current
\u00a3m \u00a3m \u00a3m \u00a3m
Trade\u2002and\u2002other\u2002receivables\u2002(as\u2002above)\u2002(as\u2002restated)*
84.0
4.3
101.4
5.9
Contract\u2002assets\u2002(as\u2002restated)*
84.0
\u2013
84.8
\u2013
Prepayments
26.1
\u2013
23.1
\u2013
194.1
4.3
209.3
5.9
2024
2023
Current Non-current Current Non-current
\u00a3m \u00a3m \u00a3m \u00a3m
Trade\u2002and\u2002other\u2002payables\u2002(as\u2002above)\u2002(as\u2002re-presented)**
45.5
1.8
69.9
2.2
Social\u2002security
8.8
\u2013
8.6
\u2013
Other\u2002payables
21.0
\u2013
24.1
\u2013
Contract\u2002liabilities\u2002(as\u2002restated)*
56.2
\u2013
63.0
\u2013
Accruals\u2002and\u2002deferred\u2002income\u2002(as\u2002restated)*
139.5
\u2013
115.8
\u2013
271.0
1.8
281.4
2.2
*\u2002 See\u2002note\u200226\u2002for\u2002more\u2002information\u2002on\u2002restatements\u2002
**\u2002 Social\u2002security\u2002and\u2002other\u2002payables\u2002were\u2002erroneously\u2002included\u2002as\u2002financial\u2002liabilities\u2002in\u20022023.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-431": { "value": "17 Cash and cash equivalents, loans and borrowings Cash and cash equivalents Cash\u2002and\u2002cash\u2002equivalents\u2002are\u2002analysed\u2002below\u2002and\u2002include\u2002the\u2002Group\u2019s\u2002share\u2002of\u2002cash\u2002held\u2002by\u2002joint\u2002operations\u2002of\u2002\u00a362.7m\u2002(2023:\u2002\u00a359.2m).
Group
Company
2024 2023 2024 2023
\u00a3m \u00a3m \u00a3m \u00a3m
Cash\u2002and\u2002cash\u2002equivalents
158.5
164.4
77.5
81.8
Cash and cash equivalents in
the cash flow statement
158.5
164.4
77.5
81.8
Cash and cash equivalents \u2013 with restrictions \u2018Cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions\u2019\u2002comprise\u2002amounts\u2002held\u2002in\u2002trust\u2002accounts\u2002on\u2002behalf\u2002of\u2002certain\u2002customers\u2002and\u2002designated\u2002for\u2002future\u2002payment\u2002to\u2002suppliers\u2002(see\u2002note\u200226).
Group
Company
2023
2024 (as restated)* 2024 2023
\u00a3m \u00a3m \u00a3m \u00a3m
Cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions
38.4
24.4
\u2013
\u2013
Cash and cash equivalents \u2013 with restrictions in
the cash flow statement
38.4
24.4
\u2013
\u2013
Cash flow information Net\u2002cash/(debt)\u2002reconciliation This\u2002section\u2002sets\u2002out\u2002an\u2002analysis\u2002of\u2002net\u2002cash/(debt)\u2002and\u2002movements\u2002in\u2002net\u2002cash/(debt)\u2002during\u2002the\u2002year.
Group
Company
2023
2024 (as restated)* 2024 2023
\u00a3m \u00a3m \u00a3m \u00a3m
Cash\u2002and\u2002cash\u2002equivalents\u2002(including\u2002cash\u2002with\u2002restrictions)
196.9
188.8
77.5
81.8
Less\u2002Cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions
(38.4)
(24.4)
\u2013
\u2013
Net\u2002cash\u2002before\u2002lease\u2002liabilities
158.5
164.4
77.5
81.8
Lease\u2002liabilities\u2002(note\u200213)
(25.8)
(24.3)
\u2013
\u2013
Net\u2002cash
132.7
140.1
77.5
81.8
Cash and cash
equivalents Less Cash and cash
(including cash with equivalents \u2013 with
restrictions) restrictions
(as restated)* (as restated)* Lease liabilities Total
Group \u00a3m \u00a3m \u00a3m \u00a3m
Net\u2002cash/(debt)\u2002at\u20021\u2002January\u20022023
134.1
(10.3)
(29.5)
94.3
Cash\u2002flows
54.7
(14.1)
12.6
53.2
New\u2002leases
\u2013
\u2013
(10.2)
(10.2)
Disposal\u2002of\u2002leases
\u2013
\u2013
2.8
2.8
Interest\u2002expense
\u2013
\u2013
(1.5)
(1.5)
Interest\u2002payments\u2002(presented\u2002as\u2002operating\u2002cash\u2002flows)
\u2013
\u2013
1.5
1.5
Net\u2002cash/(debt)\u2002at\u200231\u2002December\u20022023
188.8
(24.4)
(24.3)
140.1
Net\u2002cash/(debt)\u2002at\u20021\u2002January\u20022024
188.8
(24.4)
(24.3)
140.1
Cash\u2002flows
8.1
(14.0)
11.3
5.4
New\u2002leases
\u2013
\u2013
(18.5)
(18.5)
Disposal\u2002of\u2002leases
\u2013
\u2013
5.7
5.7
Interest\u2002expense
\u2013
\u2013
(2.5)
(2.5)
Interest\u2002payments\u2002(presented\u2002as\u2002operating\u2002cash\u2002flows)
\u2013
\u2013
2.5
2.5
Net\u2002cash/(debt)\u2002at\u200231\u2002December\u20022024
196.9
(38.4)
(25.8)
132.7
Cash and cash
equivalents
Company \u00a3m
Net\u2002cash/(debt)\u2002at\u20021\u2002January\u20022023
0.1
Cash\u2002flows
81.7
Net\u2002cash\u2002at\u200231\u2002December\u20022023
81.8
Net\u2002cash/(debt)\u2002at\u20021\u2002January\u20022024
81.8
Cash\u2002flows
(4.3)
Net\u2002cash\u2002at\u200231\u2002December\u20022024
77.5
", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-390": { "value": "17 Cash and cash equivalents, loans and borrowings Cash and cash equivalents Cash\u2002and\u2002cash\u2002equivalents\u2002are\u2002analysed\u2002below\u2002and\u2002include\u2002the\u2002Group\u2019s\u2002share\u2002of\u2002cash\u2002held\u2002by\u2002joint\u2002operations\u2002of\u2002\u00a362.7m\u2002(2023:\u2002\u00a359.2m).
Group
Company
2024 2023 2024 2023
\u00a3m \u00a3m \u00a3m \u00a3m
Cash\u2002and\u2002cash\u2002equivalents
158.5
164.4
77.5
81.8
Cash and cash equivalents in
the cash flow statement
158.5
164.4
77.5
81.8
Cash and cash equivalents \u2013 with restrictions \u2018Cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions\u2019\u2002comprise\u2002amounts\u2002held\u2002in\u2002trust\u2002accounts\u2002on\u2002behalf\u2002of\u2002certain\u2002customers\u2002and\u2002designated\u2002for\u2002future\u2002payment\u2002to\u2002suppliers\u2002(see\u2002note\u200226).
Group
Company
2023
2024 (as restated)* 2024 2023
\u00a3m \u00a3m \u00a3m \u00a3m
Cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions
38.4
24.4
\u2013
\u2013
Cash and cash equivalents \u2013 with restrictions in
the cash flow statement
38.4
24.4
\u2013
\u2013
Cash flow information Net\u2002cash/(debt)\u2002reconciliation This\u2002section\u2002sets\u2002out\u2002an\u2002analysis\u2002of\u2002net\u2002cash/(debt)\u2002and\u2002movements\u2002in\u2002net\u2002cash/(debt)\u2002during\u2002the\u2002year.
Group
Company
2023
2024 (as restated)* 2024 2023
\u00a3m \u00a3m \u00a3m \u00a3m
Cash\u2002and\u2002cash\u2002equivalents\u2002(including\u2002cash\u2002with\u2002restrictions)
196.9
188.8
77.5
81.8
Less\u2002Cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions
(38.4)
(24.4)
\u2013
\u2013
Net\u2002cash\u2002before\u2002lease\u2002liabilities
158.5
164.4
77.5
81.8
Lease\u2002liabilities\u2002(note\u200213)
(25.8)
(24.3)
\u2013
\u2013
Net\u2002cash
132.7
140.1
77.5
81.8
Cash and cash
equivalents Less Cash and cash
(including cash with equivalents \u2013 with
restrictions) restrictions
(as restated)* (as restated)* Lease liabilities Total
Group \u00a3m \u00a3m \u00a3m \u00a3m
Net\u2002cash/(debt)\u2002at\u20021\u2002January\u20022023
134.1
(10.3)
(29.5)
94.3
Cash\u2002flows
54.7
(14.1)
12.6
53.2
New\u2002leases
\u2013
\u2013
(10.2)
(10.2)
Disposal\u2002of\u2002leases
\u2013
\u2013
2.8
2.8
Interest\u2002expense
\u2013
\u2013
(1.5)
(1.5)
Interest\u2002payments\u2002(presented\u2002as\u2002operating\u2002cash\u2002flows)
\u2013
\u2013
1.5
1.5
Net\u2002cash/(debt)\u2002at\u200231\u2002December\u20022023
188.8
(24.4)
(24.3)
140.1
Net\u2002cash/(debt)\u2002at\u20021\u2002January\u20022024
188.8
(24.4)
(24.3)
140.1
Cash\u2002flows
8.1
(14.0)
11.3
5.4
New\u2002leases
\u2013
\u2013
(18.5)
(18.5)
Disposal\u2002of\u2002leases
\u2013
\u2013
5.7
5.7
Interest\u2002expense
\u2013
\u2013
(2.5)
(2.5)
Interest\u2002payments\u2002(presented\u2002as\u2002operating\u2002cash\u2002flows)
\u2013
\u2013
2.5
2.5
Net\u2002cash/(debt)\u2002at\u200231\u2002December\u20022024
196.9
(38.4)
(25.8)
132.7
Cash and cash
equivalents
Company \u00a3m
Net\u2002cash/(debt)\u2002at\u20021\u2002January\u20022023
0.1
Cash\u2002flows
81.7
Net\u2002cash\u2002at\u200231\u2002December\u20022023
81.8
Net\u2002cash/(debt)\u2002at\u20021\u2002January\u20022024
81.8
Cash\u2002flows
(4.3)
Net\u2002cash\u2002at\u200231\u2002December\u20022024
77.5
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-414": { "value": "Cash and cash equivalents \u2013 with restrictions \u2018Cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions\u2019\u2002comprise\u2002amounts\u2002held\u2002in\u2002trust\u2002accounts\u2002on\u2002behalf\u2002of\u2002certain\u2002customers\u2002and\u2002designated\u2002for\u2002future\u2002payment\u2002to\u2002suppliers\u2002(see\u2002note\u200226).
Group
Company
2023
2024 (as restated)* 2024 2023
\u00a3m \u00a3m \u00a3m \u00a3m
Cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions
38.4
24.4
\u2013
\u2013
Cash and cash equivalents \u2013 with restrictions in
the cash flow statement
38.4
24.4
\u2013
\u2013
", "dimensions": { "concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-441": { "value": "Cash flow information Net\u2002cash/(debt)\u2002reconciliation This\u2002section\u2002sets\u2002out\u2002an\u2002analysis\u2002of\u2002net\u2002cash/(debt)\u2002and\u2002movements\u2002in\u2002net\u2002cash/(debt)\u2002during\u2002the\u2002year.
Group
Company
2023
2024 (as restated)* 2024 2023
\u00a3m \u00a3m \u00a3m \u00a3m
Cash\u2002and\u2002cash\u2002equivalents\u2002(including\u2002cash\u2002with\u2002restrictions)
196.9
188.8
77.5
81.8
Less\u2002Cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions
(38.4)
(24.4)
\u2013
\u2013
Net\u2002cash\u2002before\u2002lease\u2002liabilities
158.5
164.4
77.5
81.8
Lease\u2002liabilities\u2002(note\u200213)
(25.8)
(24.3)
\u2013
\u2013
Net\u2002cash
132.7
140.1
77.5
81.8
Cash and cash
equivalents Less Cash and cash
(including cash with equivalents \u2013 with
restrictions) restrictions
(as restated)* (as restated)* Lease liabilities Total
Group \u00a3m \u00a3m \u00a3m \u00a3m
Net\u2002cash/(debt)\u2002at\u20021\u2002January\u20022023
134.1
(10.3)
(29.5)
94.3
Cash\u2002flows
54.7
(14.1)
12.6
53.2
New\u2002leases
\u2013
\u2013
(10.2)
(10.2)
Disposal\u2002of\u2002leases
\u2013
\u2013
2.8
2.8
Interest\u2002expense
\u2013
\u2013
(1.5)
(1.5)
Interest\u2002payments\u2002(presented\u2002as\u2002operating\u2002cash\u2002flows)
\u2013
\u2013
1.5
1.5
Net\u2002cash/(debt)\u2002at\u200231\u2002December\u20022023
188.8
(24.4)
(24.3)
140.1
Net\u2002cash/(debt)\u2002at\u20021\u2002January\u20022024
188.8
(24.4)
(24.3)
140.1
Cash\u2002flows
8.1
(14.0)
11.3
5.4
New\u2002leases
\u2013
\u2013
(18.5)
(18.5)
Disposal\u2002of\u2002leases
\u2013
\u2013
5.7
5.7
Interest\u2002expense
\u2013
\u2013
(2.5)
(2.5)
Interest\u2002payments\u2002(presented\u2002as\u2002operating\u2002cash\u2002flows)
\u2013
\u2013
2.5
2.5
Net\u2002cash/(debt)\u2002at\u200231\u2002December\u20022024
196.9
(38.4)
(25.8)
132.7
Cash and cash
equivalents
Company \u00a3m
Net\u2002cash/(debt)\u2002at\u20021\u2002January\u20022023
0.1
Cash\u2002flows
81.7
Net\u2002cash\u2002at\u200231\u2002December\u20022023
81.8
Net\u2002cash/(debt)\u2002at\u20021\u2002January\u20022024
81.8
Cash\u2002flows
(4.3)
Net\u2002cash\u2002at\u200231\u2002December\u20022024
77.5
", "dimensions": { "concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-437": { "value": "Cash flow information Net\u2002cash/(debt)\u2002reconciliation This\u2002section\u2002sets\u2002out\u2002an\u2002analysis\u2002of\u2002net\u2002cash/(debt)\u2002and\u2002movements\u2002in\u2002net\u2002cash/(debt)\u2002during\u2002the\u2002year.
Group
Company
2023
2024 (as restated)* 2024 2023
\u00a3m \u00a3m \u00a3m \u00a3m
Cash\u2002and\u2002cash\u2002equivalents\u2002(including\u2002cash\u2002with\u2002restrictions)
196.9
188.8
77.5
81.8
Less\u2002Cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions
(38.4)
(24.4)
\u2013
\u2013
Net\u2002cash\u2002before\u2002lease\u2002liabilities
158.5
164.4
77.5
81.8
Lease\u2002liabilities\u2002(note\u200213)
(25.8)
(24.3)
\u2013
\u2013
Net\u2002cash
132.7
140.1
77.5
81.8
Cash and cash
equivalents Less Cash and cash
(including cash with equivalents \u2013 with
restrictions) restrictions
(as restated)* (as restated)* Lease liabilities Total
Group \u00a3m \u00a3m \u00a3m \u00a3m
Net\u2002cash/(debt)\u2002at\u20021\u2002January\u20022023
134.1
(10.3)
(29.5)
94.3
Cash\u2002flows
54.7
(14.1)
12.6
53.2
New\u2002leases
\u2013
\u2013
(10.2)
(10.2)
Disposal\u2002of\u2002leases
\u2013
\u2013
2.8
2.8
Interest\u2002expense
\u2013
\u2013
(1.5)
(1.5)
Interest\u2002payments\u2002(presented\u2002as\u2002operating\u2002cash\u2002flows)
\u2013
\u2013
1.5
1.5
Net\u2002cash/(debt)\u2002at\u200231\u2002December\u20022023
188.8
(24.4)
(24.3)
140.1
Net\u2002cash/(debt)\u2002at\u20021\u2002January\u20022024
188.8
(24.4)
(24.3)
140.1
Cash\u2002flows
8.1
(14.0)
11.3
5.4
New\u2002leases
\u2013
\u2013
(18.5)
(18.5)
Disposal\u2002of\u2002leases
\u2013
\u2013
5.7
5.7
Interest\u2002expense
\u2013
\u2013
(2.5)
(2.5)
Interest\u2002payments\u2002(presented\u2002as\u2002operating\u2002cash\u2002flows)
\u2013
\u2013
2.5
2.5
Net\u2002cash/(debt)\u2002at\u200231\u2002December\u20022024
196.9
(38.4)
(25.8)
132.7
Cash and cash
equivalents
Company \u00a3m
Net\u2002cash/(debt)\u2002at\u20021\u2002January\u20022023
0.1
Cash\u2002flows
81.7
Net\u2002cash\u2002at\u200231\u2002December\u20022023
81.8
Net\u2002cash/(debt)\u2002at\u20021\u2002January\u20022024
81.8
Cash\u2002flows
(4.3)
Net\u2002cash\u2002at\u200231\u2002December\u20022024
77.5
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-391": { "value": "18 Financial instruments \u2013 Fair values and risk management Risk management The\u2002Group\u2019s\u2002centralised\u2002treasury\u2002function\u2002manages\u2002financial\u2002risk,\u2002principally\u2002arising\u2002from\u2002liquidity\u2002and\u2002funding\u2002risks\u2002and\u2002movements\u2002in\u2002foreign\u2002currency\u2002rates\u2002and\u2002interest\u2002rates,\u2002for\u2002all\u2002companies\u2002within\u2002the\u2002Group\u2002in\u2002accordance\u2002with\u2002policies\u2002agreed\u2002by\u2002the\u2002directors. Neither\u2002the\u2002Company\u2002nor\u2002the\u2002Group\u2002enters\u2002into\u2002speculative\u2002transactions. a)\u2002Capital\u2002management The\u2002objective\u2002of\u2002the\u2002Group\u2019s\u2002strategy\u2002is\u2002to\u2002deliver\u2002long-term\u2002sustainable\u2002value\u2002to\u2002shareholders\u2002while\u2002maintaining\u2002a\u2002balanced\u2002approach\u2002to\u2002investment\u2002in\u2002the\u2002business,\u2002a\u2002strong\u2002balance\u2002sheet\u2002and\u2002returns\u2002to\u2002shareholders.\u2002Costain\u2002is\u2002targeting\u2002a\u2002dividend\u2002cover\u2002of\u2002around\u2002three\u2002times\u2002adjusted\u2002earnings,\u2002taking\u2002into\u2002account\u2002the\u2002cash\u2002flow\u2002generated\u2002in\u2002the\u2002period,\u2002and\u2002the\u2002potential\u2002impact\u2002of\u2002the\u2002\u2018dividend\u2002parity\u2019\u2002arrangement\u2002relating\u2002to\u2002the\u2002defined\u2002benefit\u2002pension\u2002scheme. An\u2002interim\u2002dividend\u2002of\u20020.4p\u2002per\u2002share\u2002was\u2002paid\u2002for\u2002the\u2002six\u2002months\u2002ended\u200230\u2002June\u20022024.\u2002The\u2002Board\u2002is\u2002proposing\u2002a\u2002final\u2002dividend\u2002of\u20022.0p\u2002per\u2002share. b)\u2002Liquidity\u2002and\u2002funding\u2002risk Ultimate\u2002responsibility\u2002for\u2002liquidity\u2002and\u2002funding\u2002risk\u2002rests\u2002with\u2002the\u2002Board,\u2002which\u2002has\u2002put\u2002in\u2002place\u2002a\u2002monitoring\u2002and\u2002reporting\u2002framework\u2002to\u2002manage\u2002funding\u2002requirements. Liquidity\u2002risk\u2002is\u2002managed\u2002by\u2002monitoring\u2002actual\u2002and\u2002forecast\u2002short\u2002and\u2002medium-term\u2002cash\u2002flows\u2002and\u2002the\u2002maturity\u2002profile\u2002of\u2002financial\u2002assets\u2002and\u2002liabilities\u2002and\u2002by\u2002maintaining\u2002adequate\u2002cash\u2002reserves\u2002and\u2002bank\u2002facilities.\u2002The\u2002nature\u2002and\u2002timing\u2002of\u2002the\u2002contract\u2002cash\u2002flows,\u2002together\u2002with\u2002the\u2002change\u2002in\u2002business\u2002mix,\u2002is\u2002causing\u2002the\u2002cash\u2002balances\u2002to\u2002reflect\u2002minimal\u2002variances\u2002between\u2002the\u2002average\u2002month-end\u2002and\u2002week-end\u2002balances\u2002during\u2002the\u2002year. The\u2002average\u2002month-end\u2002net\u2002cash\u2002balance\u2002on\u2002cash\u2002and\u2002cash\u2002equivalents\u2002during\u2002the\u2002year\u2002was\u2002\u00a3169.4m\u2002(2023:\u2002\u00a3141.4m)\u2002and\u2002the\u2002average\u2002week-end\u2002net\u2002cash\u2002balance\u2002on\u2002cash\u2002and\u2002cash\u2002equivalents\u2002during\u2002the\u2002year\u2002was\u2002\u00a3164.3m\u2002(2023:\u2002\u00a3141.0m). Customers\u2002awarding\u2002long-term\u2002contracting\u2002work\u2002may,\u2002as\u2002a\u2002condition\u2002of\u2002the\u2002award,\u2002require\u2002the\u2002contractor\u2002to\u2002provide\u2002performance\u2002and\u2002other\u2002bonds.\u2002Consequently,\u2002the\u2002Group\u2002is\u2002reliant\u2002on\u2002its\u2002ability\u2002to\u2002source\u2002bank\u2002and\u2002surety\u2002bonds.\u2002It\u2002has\u2002facilities\u2002in\u2002place\u2002to\u2002provide\u2002these\u2002bonds\u2002and\u2002monitors\u2002the\u2002usage\u2002and\u2002regularly\u2002updates\u2002the\u2002forecast\u2002usage\u2002of\u2002these\u2002facilities. At\u200231\u2002December\u20022024,\u2002the\u2002Group\u2002had\u2002banking\u2002and\u2002bonding\u2002facilities,\u2002including\u2002a\u2002\u00a385.0m\u2002Revolving\u2002Credit\u2002Facility,\u2002extending\u2002to\u200224\u2002September\u20022026\u2002(2023:\u2002\u00a385.0m\u2002Revolving\u2002Credit\u2002Facility,\u2002extending\u2002to\u200224\u2002September\u20022026).\u2002The\u2002unsecured\u2002facilities\u2002have\u2002financial\u2002covenants\u2002based\u2002on\u2002interest\u2002cover\u2002and\u2002leverage\u2002measured\u2002quarterly\u2002and\u2002liquidity\u2002measured\u2002monthly.\u2002The\u2002covenants\u2002are\u2002based\u2002on\u2002accounting\u2002standards\u2002already\u2002in\u2002force\u2002at\u2002the\u2002date\u2002of\u2002signing\u2002the\u2002facilities\u2002and\u2002any\u2002subsequent\u2002agreements.\u2002The\u2002Group\u2002complied\u2002with\u2002all\u2002covenants\u2002in\u20022024.\u2002The\u2002unsecured\u2002bonding\u2002facilities\u2002are\u2002set\u2002out\u2002below:
Group and Company
2024 2023
\u00a3m \u00a3m
Expiring\u2002between\u2002one\u2002and\u2002five\u2002years
270.0
270.0
Element\u2002of\u2002above\u2002facilities\u2002available\u2002for\u2002borrowings
\u2013
\u2013
At\u200231\u2002December\u20022024,\u2002the\u2002utilisation\u2002of\u2002these\u2002bonding\u2002facilities\u2002amounted\u2002to\u2002\u00a365.3m\u2002(2023:\u2002\u00a369.8m). c)\u2002Credit\u2002risk The\u2002Group\u2002focuses\u2002on\u2002major\u2002Tier\u20021\u2002private\u2002sector\u2002and\u2002large\u2002public\u2002sector\u2002customers.\u2002In\u2002respect\u2002of\u2002contracts\u2002with\u2002customers,\u2002the\u2002Group\u2002uses\u2002an\u2002external\u2002credit\u2002scoring\u2002system\u2002to\u2002assess\u2002a\u2002potential\u2002customer\u2019s\u2002credit\u2002quality\u2002and\u2002considers\u2002the\u2002timing\u2002and\u2002amounts\u2002of\u2002progress\u2002payments\u2002and\u2002will\u2002enter\u2002into\u2002a\u2002contract\u2002only\u2002if\u2002these\u2002assessments\u2002are\u2002satisfactory. To\u2002measure\u2002the\u2002expected\u2002credit\u2002losses,\u2002trade\u2002receivables\u2002and\u2002contract\u2002assets\u2002have\u2002been\u2002grouped\u2002based\u2002on\u2002shared\u2002credit\u2002risk\u2002characteristics\u2002and\u2002the\u2002days\u2002past\u2002due.\u2002Group\u20021\u2002comprises\u2002major\u2002Tier\u20021\u2002private\u2002sector\u2002and\u2002large\u2002public\u2002sector\u2002customers.\u2002Group\u20022\u2002includes\u2002smaller\u2002customers\u2002and\u2002receivables\u2002arising\u2002from\u2002various\u2002additional\u2002services\u2002undertaken\u2002as\u2002requirements\u2002of\u2002some\u2002of\u2002the\u2002maintenance\u2002contracts.\u2002Revenue\u2002of\u2002\u00a31,243.3m\u2002(2023:\u2002\u00a31,322.2m)\u2002was\u2002attributable\u2002to\u2002Group\u20021\u2002customers\u2002and\u2002\u00a37.8m\u2002(2023:\u2002\u00a39.8m)\u2002attributable\u2002to\u2002Group\u20022\u2002customers. The\u2002contract\u2002assets\u2002relate\u2002to\u2002unbilled\u2002work\u2002in\u2002progress\u2002and\u2002have\u2002substantially\u2002the\u2002same\u2002credit\u2002risk\u2002characteristics\u2002as\u2002the\u2002trade\u2002receivables\u2002for\u2002the\u2002same\u2002types\u2002of\u2002contracts.\u2002The\u2002Group\u2002has\u2002concluded\u2002that\u2002the\u2002expected\u2002loss\u2002rates\u2002for\u2002trade\u2002receivables\u2002are\u2002a\u2002reasonable\u2002approximation\u2002of\u2002the\u2002loss\u2002rates\u2002for\u2002the\u2002contract\u2002assets.\u2002The\u2002expected\u2002loss\u2002rates\u2002are\u2002adjusted\u2002to\u2002reflect\u2002current\u2002and\u2002forward-looking\u2002information\u2002on\u2002macroeconomic\u2002factors\u2002that\u2002might\u2002affect\u2002the\u2002ability\u2002of\u2002the\u2002customers\u2002to\u2002settle\u2002the\u2002receivables. On\u2002this\u2002basis,\u2002the\u2002loss\u2002allowance\u2002as\u2002at\u200231\u2002December\u20022024\u2002and\u200231\u2002December\u20022023\u2002was\u2002determined\u2002as\u2002follows\u2002for\u2002both\u2002trade\u2002receivables\u2002and\u2002contract\u2002assets:
Less than 60 to 120 days More than 120 days
Current 60 days past due past due
past due
Total
31 December 2024
Group 1
Expected\u2002loss\u2002rate
0.00%
0.10%
0.25%
0.50%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trade\u2002receivables
40.5
13.4
0.1
0.3
54.3
Contract\u2002assets
60.8
13.6
2.5
7.1
84.0
Loss allowance
\u2013
\u2013
\u2013
\u2013
\u2013
Group 2
Expected\u2002loss\u2002rate
1.0%
2.0%
15.0%
30.0%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trade\u2002receivables
0.1
0.2
\u2013
\u2013
0.3
Contract\u2002assets
\u2013
\u2013
\u2013
\u2013
\u2013
Loss allowance
\u2013
\u2013
\u2013
\u2013
\u2013
31 December 2023
Group 1
Expected\u2002loss\u2002rate
0.00%
0.10%
0.25%
0.50%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trade\u2002receivables\u2002(as\u2002restated)*
54.1
11.9
1.7
0.2
67.9
Contract\u2002assets\u2002(as\u2002restated)*
71.7
6.4
2.0
4.7
84.8
Loss allowance
\u2013
\u2013
\u2013
\u2013
\u2013
Group 2
Expected\u2002loss\u2002rate
1.0%
2.0%
15.0%
30.0%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trade\u2002receivables
0.1
\u2013
\u2013
0.1
0.2
Contract\u2002assets
\u2013
\u2013
\u2013
\u2013
\u2013
Loss allowance
\u2013
\u2013
\u2013
\u2013
\u2013
*\u2002 See\u2002note\u200226\u2002for\u2002more\u2002information\u2002on\u2002restatements. Impairment\u2002losses\u2002on\u2002trade\u2002receivables\u2002and\u2002contract\u2002assets\u2002are\u2002included\u2002within\u2002operating\u2002profit.\u2002Subsequent\u2002recoveries\u2002of\u2002amounts\u2002previously\u2002written\u2002off\u2002are\u2002credited\u2002against\u2002the\u2002same\u2002line\u2002item.\u2002The\u2002total\u2002provision\u2002for\u2002impairment\u2002of\u2002trade\u2002and\u2002other\u2002receivables\u2002is\u2002\u00a30.1m\u2002(2023:\u2002\u00a30.3m).\u2002The\u2002credit\u2002risk\u2002in\u2002contract\u2002assets\u2002is\u2002not\u2002material. There\u2002is\u2002no\u2002material\u2002credit\u2002risk\u2002associated\u2002with\u2002non-current\u2002retentions\u2002as\u2002assessed\u2002in\u2002accordance\u2002with\u2002the\u2002simplified\u2002expected\u2002credit\u2002loss\u2002model. There\u2002is\u2002no\u2002material\u2002credit\u2002risk\u2002associated\u2002with\u2002other\u2002receivables\u2002(excluding\u2002non-current\u2002retentions)\u2002as\u2002assessed\u2002in\u2002accordance\u2002with\u2002the\u200212\u2002month\u2002expected\u2002credit\u2002loss\u2002model. Deposits\u2002in\u2002the\u2002UK\u2002are\u2002placed\u2002with\u2002bank\u2002facility\u2002providers\u2002or,\u2002in\u2002joint\u2002operations,\u2002with\u2002banks\u2002agreed\u2002by\u2002the\u2002partners,\u2002provided\u2002that\u2002the\u2002bank\u2002has\u2002a\u2002long-term\u2002credit\u2002rating\u2002above\u2002BBB-.\u2002Given\u2002the\u2002high\u2002credit\u2002ratings\u2002of\u2002the\u2002banks\u2002and\u2002insurance\u2002companies\u2002used,\u2002management\u2002does\u2002not\u2002expect\u2002any\u2002counterparty\u2002will\u2002fail\u2002to\u2002meet\u2002its\u2002obligations. At\u2002the\u2002year-end\u2002date,\u2002excluding\u2002UK\u2002Government\u2002bodies,\u2002there\u2002were\u2002no\u2002significant\u2002concentrations\u2002of\u2002credit\u2002risk.\u2002The\u2002maximum\u2002exposure\u2002to\u2002credit\u2002risk\u2002is\u2002represented\u2002by\u2002the\u2002carrying\u2002amounts\u2002of\u2002each\u2002financial\u2002asset\u2002and\u2002the\u2002individual\u2002constituents\u2002of\u2002contract\u2002assets\u2002in\u2002the\u2002statement\u2002of\u2002financial\u2002position.
d)\u2002Interest\u2002rate\u2002risk
The\u2002Group\u2002has\u2002cash\u2002balances\u2002and\u2002bank\u2002facilities\u2002in\u2002the\u2002UK,\u2002mostly\u2002denominated\u2002in\u2002pounds\u2002sterling.
As\u2002there\u2002are\u2002no\u2002borrowings\u2002at\u2002the\u20022024\u2002year-end,\u2002interest\u2002rate\u2002risk\u2002is\u2002negligible.
e)\u2002Foreign\u2002currency\u2002risk
Transactional\u2002currency\u2002exposures\u2002arise\u2002from\u2002sales\u2002or\u2002purchases\u2002by\u2002operating\u2002companies\u2002in\u2002currencies\u2002other\u2002than\u2002their\u2002functional\u2002
currency.\u2002The\u2002current\u2002strategy\u2002is\u2002to\u2002hedge\u2002both\u2002committed\u2002and\u2002forecast\u2002foreign\u2002currency\u2002exposures,\u2002where\u2002applicable,\u2002and\u2002where\u2002the\u2002
transaction\u2002timing\u2002and\u2002amount\u2002can\u2002be\u2002determined\u2002reliably\u2002and\u2002no\u2002natural\u2002hedge\u2002exists.\u2002The\u2002Group\u2002only\u2002enters\u2002into\u2002forward\u2002contracts\u2002
when\u2002a\u2002contractual\u2002commitment\u2002exists\u2002in\u2002respect\u2002of\u2002the\u2002foreign\u2002currency\u2002transaction\u2002and\u2002the\u2002Group\u2019s\u2002policy\u2002is\u2002to\u2002negotiate\u2002the\u2002terms\u2002
of\u2002the\u2002hedge\u2002derivative\u2002to\u2002match\u2002the\u2002terms\u2002of\u2002the\u2002hedged\u2002item\u2002to\u2002maximise\u2002hedge\u2002effectiveness.\u2002The\u2002Group\u2019s\u2002treasury\u2002function\u2002evaluates\u2002
and\u2002hedges\u2002foreign\u2002currency\u2002risks,\u2002in\u2002close\u2002cooperation\u2002with\u2002the\u2002responsible\u2002operational\u2002management\u2002team.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-415": { "value": "
a)\u2002Capital\u2002management
The\u2002objective\u2002of\u2002the\u2002Group\u2019s\u2002strategy\u2002is\u2002to\u2002deliver\u2002long-term\u2002sustainable\u2002value\u2002to\u2002shareholders\u2002while\u2002maintaining\u2002a\u2002balanced\u2002approach\u2002
to\u2002investment\u2002in\u2002the\u2002business,\u2002a\u2002strong\u2002balance\u2002sheet\u2002and\u2002returns\u2002to\u2002shareholders.\u2002Costain\u2002is\u2002targeting\u2002a\u2002dividend\u2002cover\u2002of\u2002around\u2002three\u2002
times\u2002adjusted\u2002earnings,\u2002taking\u2002into\u2002account\u2002the\u2002cash\u2002flow\u2002generated\u2002in\u2002the\u2002period,\u2002and\u2002the\u2002potential\u2002impact\u2002of\u2002the\u2002\u2018dividend\u2002parity\u2019\u2002
arrangement\u2002relating\u2002to\u2002the\u2002defined\u2002benefit\u2002pension\u2002scheme.
An\u2002interim\u2002dividend\u2002of\u20020.4p\u2002per\u2002share\u2002was\u2002paid\u2002for\u2002the\u2002six\u2002months\u2002ended\u200230\u2002June\u20022024.\u2002The\u2002Board\u2002is\u2002proposing\u2002a\u2002final\u2002dividend\u2002
of\u20022.0p\u2002per\u2002share.
", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-416": { "value": "
b)\u2002Liquidity\u2002and\u2002funding\u2002risk
Ultimate\u2002responsibility\u2002for\u2002liquidity\u2002and\u2002funding\u2002risk\u2002rests\u2002with\u2002the\u2002Board,\u2002which\u2002has\u2002put\u2002in\u2002place\u2002a\u2002monitoring\u2002and\u2002reporting\u2002framework\u2002
to\u2002manage\u2002funding\u2002requirements.
Liquidity\u2002risk\u2002is\u2002managed\u2002by\u2002monitoring\u2002actual\u2002and\u2002forecast\u2002short\u2002and\u2002medium-term\u2002cash\u2002flows\u2002and\u2002the\u2002maturity\u2002profile\u2002of\u2002financial\u2002
assets\u2002and\u2002liabilities\u2002and\u2002by\u2002maintaining\u2002adequate\u2002cash\u2002reserves\u2002and\u2002bank\u2002facilities.\u2002The\u2002nature\u2002and\u2002timing\u2002of\u2002the\u2002contract\u2002cash\u2002flows,\u2002
together\u2002with\u2002the\u2002change\u2002in\u2002business\u2002mix,\u2002is\u2002causing\u2002the\u2002cash\u2002balances\u2002to\u2002reflect\u2002minimal\u2002variances\u2002between\u2002the\u2002average\u2002month-end\u2002and\u2002
week-end\u2002balances\u2002during\u2002the\u2002year.
The\u2002average\u2002month-end\u2002net\u2002cash\u2002balance\u2002on\u2002cash\u2002and\u2002cash\u2002equivalents\u2002during\u2002the\u2002year\u2002was\u2002\u00a3169.4m\u2002(2023:\u2002\u00a3141.4m)\u2002and\u2002the\u2002average\u2002
week-end\u2002net\u2002cash\u2002balance\u2002on\u2002cash\u2002and\u2002cash\u2002equivalents\u2002during\u2002the\u2002year\u2002was\u2002\u00a3164.3m\u2002(2023:\u2002\u00a3141.0m).
Customers\u2002awarding\u2002long-term\u2002contracting\u2002work\u2002may,\u2002as\u2002a\u2002condition\u2002of\u2002the\u2002award,\u2002require\u2002the\u2002contractor\u2002to\u2002provide\u2002performance\u2002and\u2002
other\u2002bonds.\u2002Consequently,\u2002the\u2002Group\u2002is\u2002reliant\u2002on\u2002its\u2002ability\u2002to\u2002source\u2002bank\u2002and\u2002surety\u2002bonds.\u2002It\u2002has\u2002facilities\u2002in\u2002place\u2002to\u2002provide\u2002these\u2002
bonds\u2002and\u2002monitors\u2002the\u2002usage\u2002and\u2002regularly\u2002updates\u2002the\u2002forecast\u2002usage\u2002of\u2002these\u2002facilities.
At\u200231\u2002December\u20022024,\u2002the\u2002Group\u2002had\u2002banking\u2002and\u2002bonding\u2002facilities,\u2002including\u2002a\u2002\u00a385.0m\u2002Revolving\u2002Credit\u2002Facility,\u2002extending\u2002to\u2002
24\u2002September\u20022026\u2002(2023:\u2002\u00a385.0m\u2002Revolving\u2002Credit\u2002Facility,\u2002extending\u2002to\u200224\u2002September\u20022026).\u2002The\u2002unsecured\u2002facilities\u2002have\u2002financial\u2002
covenants\u2002based\u2002on\u2002interest\u2002cover\u2002and\u2002leverage\u2002measured\u2002quarterly\u2002and\u2002liquidity\u2002measured\u2002monthly.\u2002The\u2002covenants\u2002are\u2002based\u2002on\u2002
accounting\u2002standards\u2002already\u2002in\u2002force\u2002at\u2002the\u2002date\u2002of\u2002signing\u2002the\u2002facilities\u2002and\u2002any\u2002subsequent\u2002agreements.\u2002The\u2002Group\u2002complied\u2002with\u2002
all\u2002covenants\u2002in\u20022024.\u2002The\u2002unsecured\u2002bonding\u2002facilities\u2002are\u2002set\u2002out\u2002below:
Group and Company
2024 2023
\u00a3m \u00a3m
Expiring\u2002between\u2002one\u2002and\u2002five\u2002years
270.0
270.0
Element\u2002of\u2002above\u2002facilities\u2002available\u2002for\u2002borrowings
\u2013
\u2013
At\u200231\u2002December\u20022024,\u2002the\u2002utilisation\u2002of\u2002these\u2002bonding\u2002facilities\u2002amounted\u2002to\u2002\u00a365.3m\u2002(2023:\u2002\u00a369.8m).
", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-417": { "value": "
c)\u2002Credit\u2002risk
The\u2002Group\u2002focuses\u2002on\u2002major\u2002Tier\u20021\u2002private\u2002sector\u2002and\u2002large\u2002public\u2002sector\u2002customers.\u2002In\u2002respect\u2002of\u2002contracts\u2002with\u2002customers,\u2002the\u2002Group\u2002
uses\u2002an\u2002external\u2002credit\u2002scoring\u2002system\u2002to\u2002assess\u2002a\u2002potential\u2002customer\u2019s\u2002credit\u2002quality\u2002and\u2002considers\u2002the\u2002timing\u2002and\u2002amounts\u2002of\u2002progress\u2002
payments\u2002and\u2002will\u2002enter\u2002into\u2002a\u2002contract\u2002only\u2002if\u2002these\u2002assessments\u2002are\u2002satisfactory.
To\u2002measure\u2002the\u2002expected\u2002credit\u2002losses,\u2002trade\u2002receivables\u2002and\u2002contract\u2002assets\u2002have\u2002been\u2002grouped\u2002based\u2002on\u2002shared\u2002credit\u2002risk\u2002
characteristics\u2002and\u2002the\u2002days\u2002past\u2002due.\u2002Group\u20021\u2002comprises\u2002major\u2002Tier\u20021\u2002private\u2002sector\u2002and\u2002large\u2002public\u2002sector\u2002customers.\u2002Group\u20022\u2002includes\u2002
smaller\u2002customers\u2002and\u2002receivables\u2002arising\u2002from\u2002various\u2002additional\u2002services\u2002undertaken\u2002as\u2002requirements\u2002of\u2002some\u2002of\u2002the\u2002maintenance\u2002
contracts.\u2002Revenue\u2002of\u2002\u00a31,243.3m\u2002(2023:\u2002\u00a31,322.2m)\u2002was\u2002attributable\u2002to\u2002Group\u20021\u2002customers\u2002and\u2002\u00a37.8m\u2002(2023:\u2002\u00a39.8m)\u2002attributable\u2002to\u2002
Group\u20022\u2002customers.
The\u2002contract\u2002assets\u2002relate\u2002to\u2002unbilled\u2002work\u2002in\u2002progress\u2002and\u2002have\u2002substantially\u2002the\u2002same\u2002credit\u2002risk\u2002characteristics\u2002as\u2002the\u2002trade\u2002
receivables\u2002for\u2002the\u2002same\u2002types\u2002of\u2002contracts.\u2002The\u2002Group\u2002has\u2002concluded\u2002that\u2002the\u2002expected\u2002loss\u2002rates\u2002for\u2002trade\u2002receivables\u2002are\u2002a\u2002
reasonable\u2002approximation\u2002of\u2002the\u2002loss\u2002rates\u2002for\u2002the\u2002contract\u2002assets.\u2002
The\u2002expected\u2002loss\u2002rates\u2002are\u2002adjusted\u2002to\u2002reflect\u2002current\u2002and\u2002forward-looking\u2002information\u2002on\u2002macroeconomic\u2002factors\u2002that\u2002might\u2002affect\u2002the\u2002ability\u2002of\u2002the\u2002customers\u2002to\u2002settle\u2002the\u2002receivables. On\u2002this\u2002basis,\u2002the\u2002loss\u2002allowance\u2002as\u2002at\u200231\u2002December\u20022024\u2002and\u200231\u2002December\u20022023\u2002was\u2002determined\u2002as\u2002follows\u2002for\u2002both\u2002trade\u2002receivables\u2002and\u2002contract\u2002assets:
Less than 60 to 120 days More than 120 days
Current 60 days past due past due
past due
Total
31 December 2024
Group 1
Expected\u2002loss\u2002rate
0.00%
0.10%
0.25%
0.50%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trade\u2002receivables
40.5
13.4
0.1
0.3
54.3
Contract\u2002assets
60.8
13.6
2.5
7.1
84.0
Loss allowance
\u2013
\u2013
\u2013
\u2013
\u2013
Group 2
Expected\u2002loss\u2002rate
1.0%
2.0%
15.0%
30.0%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trade\u2002receivables
0.1
0.2
\u2013
\u2013
0.3
Contract\u2002assets
\u2013
\u2013
\u2013
\u2013
\u2013
Loss allowance
\u2013
\u2013
\u2013
\u2013
\u2013
31 December 2023
Group 1
Expected\u2002loss\u2002rate
0.00%
0.10%
0.25%
0.50%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trade\u2002receivables\u2002(as\u2002restated)*
54.1
11.9
1.7
0.2
67.9
Contract\u2002assets\u2002(as\u2002restated)*
71.7
6.4
2.0
4.7
84.8
Loss allowance
\u2013
\u2013
\u2013
\u2013
\u2013
Group 2
Expected\u2002loss\u2002rate
1.0%
2.0%
15.0%
30.0%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trade\u2002receivables
0.1
\u2013
\u2013
0.1
0.2
Contract\u2002assets
\u2013
\u2013
\u2013
\u2013
\u2013
Loss allowance
\u2013
\u2013
\u2013
\u2013
\u2013
*\u2002 See\u2002note\u200226\u2002for\u2002more\u2002information\u2002on\u2002restatements. Impairment\u2002losses\u2002on\u2002trade\u2002receivables\u2002and\u2002contract\u2002assets\u2002are\u2002included\u2002within\u2002operating\u2002profit.\u2002Subsequent\u2002recoveries\u2002of\u2002amounts\u2002previously\u2002written\u2002off\u2002are\u2002credited\u2002against\u2002the\u2002same\u2002line\u2002item.\u2002The\u2002total\u2002provision\u2002for\u2002impairment\u2002of\u2002trade\u2002and\u2002other\u2002receivables\u2002is\u2002\u00a30.1m\u2002(2023:\u2002\u00a30.3m).\u2002The\u2002credit\u2002risk\u2002in\u2002contract\u2002assets\u2002is\u2002not\u2002material. There\u2002is\u2002no\u2002material\u2002credit\u2002risk\u2002associated\u2002with\u2002non-current\u2002retentions\u2002as\u2002assessed\u2002in\u2002accordance\u2002with\u2002the\u2002simplified\u2002expected\u2002credit\u2002loss\u2002model. There\u2002is\u2002no\u2002material\u2002credit\u2002risk\u2002associated\u2002with\u2002other\u2002receivables\u2002(excluding\u2002non-current\u2002retentions)\u2002as\u2002assessed\u2002in\u2002accordance\u2002with\u2002the\u200212\u2002month\u2002expected\u2002credit\u2002loss\u2002model. Deposits\u2002in\u2002the\u2002UK\u2002are\u2002placed\u2002with\u2002bank\u2002facility\u2002providers\u2002or,\u2002in\u2002joint\u2002operations,\u2002with\u2002banks\u2002agreed\u2002by\u2002the\u2002partners,\u2002provided\u2002that\u2002the\u2002bank\u2002has\u2002a\u2002long-term\u2002credit\u2002rating\u2002above\u2002BBB-.\u2002Given\u2002the\u2002high\u2002credit\u2002ratings\u2002of\u2002the\u2002banks\u2002and\u2002insurance\u2002companies\u2002used,\u2002management\u2002does\u2002not\u2002expect\u2002any\u2002counterparty\u2002will\u2002fail\u2002to\u2002meet\u2002its\u2002obligations. At\u2002the\u2002year-end\u2002date,\u2002excluding\u2002UK\u2002Government\u2002bodies,\u2002there\u2002were\u2002no\u2002significant\u2002concentrations\u2002of\u2002credit\u2002risk.\u2002The\u2002maximum\u2002exposure\u2002to\u2002credit\u2002risk\u2002is\u2002represented\u2002by\u2002the\u2002carrying\u2002amounts\u2002of\u2002each\u2002financial\u2002asset\u2002and\u2002the\u2002individual\u2002constituents\u2002of\u2002contract\u2002assets\u2002in\u2002the\u2002statement\u2002of\u2002financial\u2002position.", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-432": { "value": "c)\u2002Credit\u2002risk The\u2002Group\u2002focuses\u2002on\u2002major\u2002Tier\u20021\u2002private\u2002sector\u2002and\u2002large\u2002public\u2002sector\u2002customers.\u2002In\u2002respect\u2002of\u2002contracts\u2002with\u2002customers,\u2002the\u2002Group\u2002uses\u2002an\u2002external\u2002credit\u2002scoring\u2002system\u2002to\u2002assess\u2002a\u2002potential\u2002customer\u2019s\u2002credit\u2002quality\u2002and\u2002considers\u2002the\u2002timing\u2002and\u2002amounts\u2002of\u2002progress\u2002payments\u2002and\u2002will\u2002enter\u2002into\u2002a\u2002contract\u2002only\u2002if\u2002these\u2002assessments\u2002are\u2002satisfactory. To\u2002measure\u2002the\u2002expected\u2002credit\u2002losses,\u2002trade\u2002receivables\u2002and\u2002contract\u2002assets\u2002have\u2002been\u2002grouped\u2002based\u2002on\u2002shared\u2002credit\u2002risk\u2002characteristics\u2002and\u2002the\u2002days\u2002past\u2002due.\u2002Group\u20021\u2002comprises\u2002major\u2002Tier\u20021\u2002private\u2002sector\u2002and\u2002large\u2002public\u2002sector\u2002customers.\u2002Group\u20022\u2002includes\u2002smaller\u2002customers\u2002and\u2002receivables\u2002arising\u2002from\u2002various\u2002additional\u2002services\u2002undertaken\u2002as\u2002requirements\u2002of\u2002some\u2002of\u2002the\u2002maintenance\u2002contracts.\u2002Revenue\u2002of\u2002\u00a31,243.3m\u2002(2023:\u2002\u00a31,322.2m)\u2002was\u2002attributable\u2002to\u2002Group\u20021\u2002customers\u2002and\u2002\u00a37.8m\u2002(2023:\u2002\u00a39.8m)\u2002attributable\u2002to\u2002Group\u20022\u2002customers. The\u2002contract\u2002assets\u2002relate\u2002to\u2002unbilled\u2002work\u2002in\u2002progress\u2002and\u2002have\u2002substantially\u2002the\u2002same\u2002credit\u2002risk\u2002characteristics\u2002as\u2002the\u2002trade\u2002receivables\u2002for\u2002the\u2002same\u2002types\u2002of\u2002contracts.\u2002The\u2002Group\u2002has\u2002concluded\u2002that\u2002the\u2002expected\u2002loss\u2002rates\u2002for\u2002trade\u2002receivables\u2002are\u2002a\u2002reasonable\u2002approximation\u2002of\u2002the\u2002loss\u2002rates\u2002for\u2002the\u2002contract\u2002assets.\u2002The\u2002expected\u2002loss\u2002rates\u2002are\u2002adjusted\u2002to\u2002reflect\u2002current\u2002and\u2002forward-looking\u2002information\u2002on\u2002macroeconomic\u2002factors\u2002that\u2002might\u2002affect\u2002the\u2002ability\u2002of\u2002the\u2002customers\u2002to\u2002settle\u2002the\u2002receivables. On\u2002this\u2002basis,\u2002the\u2002loss\u2002allowance\u2002as\u2002at\u200231\u2002December\u20022024\u2002and\u200231\u2002December\u20022023\u2002was\u2002determined\u2002as\u2002follows\u2002for\u2002both\u2002trade\u2002receivables\u2002and\u2002contract\u2002assets:
Less than 60 to 120 days More than 120 days
Current 60 days past due past due
past due
Total
31 December 2024
Group 1
Expected\u2002loss\u2002rate
0.00%
0.10%
0.25%
0.50%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trade\u2002receivables
40.5
13.4
0.1
0.3
54.3
Contract\u2002assets
60.8
13.6
2.5
7.1
84.0
Loss allowance
\u2013
\u2013
\u2013
\u2013
\u2013
Group 2
Expected\u2002loss\u2002rate
1.0%
2.0%
15.0%
30.0%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trade\u2002receivables
0.1
0.2
\u2013
\u2013
0.3
Contract\u2002assets
\u2013
\u2013
\u2013
\u2013
\u2013
Loss allowance
\u2013
\u2013
\u2013
\u2013
\u2013
31 December 2023
Group 1
Expected\u2002loss\u2002rate
0.00%
0.10%
0.25%
0.50%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trade\u2002receivables\u2002(as\u2002restated)*
54.1
11.9
1.7
0.2
67.9
Contract\u2002assets\u2002(as\u2002restated)*
71.7
6.4
2.0
4.7
84.8
Loss allowance
\u2013
\u2013
\u2013
\u2013
\u2013
Group 2
Expected\u2002loss\u2002rate
1.0%
2.0%
15.0%
30.0%
\u00a3m
\u00a3m
\u00a3m
\u00a3m
\u00a3m
Trade\u2002receivables
0.1
\u2013
\u2013
0.1
0.2
Contract\u2002assets
\u2013
\u2013
\u2013
\u2013
\u2013
Loss allowance
\u2013
\u2013
\u2013
\u2013
\u2013
*\u2002 See\u2002note\u200226\u2002for\u2002more\u2002information\u2002on\u2002restatements. Impairment\u2002losses\u2002on\u2002trade\u2002receivables\u2002and\u2002contract\u2002assets\u2002are\u2002included\u2002within\u2002operating\u2002profit.\u2002Subsequent\u2002recoveries\u2002of\u2002amounts\u2002previously\u2002written\u2002off\u2002are\u2002credited\u2002against\u2002the\u2002same\u2002line\u2002item.\u2002The\u2002total\u2002provision\u2002for\u2002impairment\u2002of\u2002trade\u2002and\u2002other\u2002receivables\u2002is\u2002\u00a30.1m\u2002(2023:\u2002\u00a30.3m).\u2002The\u2002credit\u2002risk\u2002in\u2002contract\u2002assets\u2002is\u2002not\u2002material. There\u2002is\u2002no\u2002material\u2002credit\u2002risk\u2002associated\u2002with\u2002non-current\u2002retentions\u2002as\u2002assessed\u2002in\u2002accordance\u2002with\u2002the\u2002simplified\u2002expected\u2002credit\u2002loss\u2002model. There\u2002is\u2002no\u2002material\u2002credit\u2002risk\u2002associated\u2002with\u2002other\u2002receivables\u2002(excluding\u2002non-current\u2002retentions)\u2002as\u2002assessed\u2002in\u2002accordance\u2002with\u2002the\u200212\u2002month\u2002expected\u2002credit\u2002loss\u2002model. Deposits\u2002in\u2002the\u2002UK\u2002are\u2002placed\u2002with\u2002bank\u2002facility\u2002providers\u2002or,\u2002in\u2002joint\u2002operations,\u2002with\u2002banks\u2002agreed\u2002by\u2002the\u2002partners,\u2002provided\u2002that\u2002the\u2002bank\u2002has\u2002a\u2002long-term\u2002credit\u2002rating\u2002above\u2002BBB-.\u2002Given\u2002the\u2002high\u2002credit\u2002ratings\u2002of\u2002the\u2002banks\u2002and\u2002insurance\u2002companies\u2002used,\u2002management\u2002does\u2002not\u2002expect\u2002any\u2002counterparty\u2002will\u2002fail\u2002to\u2002meet\u2002its\u2002obligations. At\u2002the\u2002year-end\u2002date,\u2002excluding\u2002UK\u2002Government\u2002bodies,\u2002there\u2002were\u2002no\u2002significant\u2002concentrations\u2002of\u2002credit\u2002risk.\u2002The\u2002maximum\u2002exposure\u2002to\u2002credit\u2002risk\u2002is\u2002represented\u2002by\u2002the\u2002carrying\u2002amounts\u2002of\u2002each\u2002financial\u2002asset\u2002and\u2002the\u2002individual\u2002constituents\u2002of\u2002contract\u2002assets\u2002in\u2002the\u2002statement\u2002of\u2002financial\u2002position.", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-418": { "value": "d)\u2002Interest\u2002rate\u2002risk The\u2002Group\u2002has\u2002cash\u2002balances\u2002and\u2002bank\u2002facilities\u2002in\u2002the\u2002UK,\u2002mostly\u2002denominated\u2002in\u2002pounds\u2002sterling. As\u2002there\u2002are\u2002no\u2002borrowings\u2002at\u2002the\u20022024\u2002year-end,\u2002interest\u2002rate\u2002risk\u2002is\u2002negligible. e)\u2002Foreign\u2002currency\u2002risk Transactional\u2002currency\u2002exposures\u2002arise\u2002from\u2002sales\u2002or\u2002purchases\u2002by\u2002operating\u2002companies\u2002in\u2002currencies\u2002other\u2002than\u2002their\u2002functional\u2002currency.\u2002The\u2002current\u2002strategy\u2002is\u2002to\u2002hedge\u2002both\u2002committed\u2002and\u2002forecast\u2002foreign\u2002currency\u2002exposures,\u2002where\u2002applicable,\u2002and\u2002where\u2002the\u2002transaction\u2002timing\u2002and\u2002amount\u2002can\u2002be\u2002determined\u2002reliably\u2002and\u2002no\u2002natural\u2002hedge\u2002exists.\u2002The\u2002Group\u2002only\u2002enters\u2002into\u2002forward\u2002contracts\u2002when\u2002a\u2002contractual\u2002commitment\u2002exists\u2002in\u2002respect\u2002of\u2002the\u2002foreign\u2002currency\u2002transaction\u2002and\u2002the\u2002Group\u2019s\u2002policy\u2002is\u2002to\u2002negotiate\u2002the\u2002terms\u2002of\u2002the\u2002hedge\u2002derivative\u2002to\u2002match\u2002the\u2002terms\u2002of\u2002the\u2002hedged\u2002item\u2002to\u2002maximise\u2002hedge\u2002effectiveness.\u2002The\u2002Group\u2019s\u2002treasury\u2002function\u2002evaluates\u2002and\u2002hedges\u2002foreign\u2002currency\u2002risks,\u2002in\u2002close\u2002cooperation\u2002with\u2002the\u2002responsible\u2002operational\u2002management\u2002team. ", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-419": { "value": "
Financial assets and liabilities
The\u2002Group\u2002has\u2002grouped\u2002its\u2002financial\u2002instruments\u2002into\u2002\u2018classes\u2019.\u2002Although\u2002IFRS\u20027\u2002does\u2002not\u2002define\u2002\u2018classes\u2019,\u2002as\u2002a\u2002minimum\u2002instruments\u2002
measured\u2002at\u2002amortised\u2002cost\u2002should\u2002be\u2002distinguished\u2002from\u2002instruments\u2002measured\u2002at\u2002fair\u2002value.
a)\u2002Currency\u2002and\u2002maturity\u2002of\u2002financial\u2002assets
Financial\u2002assets\u2002not\u2002measured\u2002at\u2002fair\u2002value
2024
2023
Between Between
Within one and After five Within one and After five
Total one year five years years Total one year five years years
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Cash\u2002and\u2002cash\u2002equivalents:
pounds\u2002sterling
158.2
158.2
\u2013
\u2013
163.9
163.9
\u2013
\u2013
other
0.3
0.3
\u2013
\u2013
0.5
0.5
\u2013
\u2013
158.5
158.5
\u2013
\u2013
164.4
164.4
\u2013
\u2013
Cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with
restrictions:
pounds\u2002sterling\u2002(as\u2002restated)*
38.4
38.4
\u2013
\u2013
24.4
24.4
\u2013
\u2013
38.4
38.4
\u2013
\u2013
24.4
24.4
\u2013
\u2013
Trade\u2002and\u2002other\u2002receivables:
pounds\u2002sterling\u2002(as\u2002restated)*
79.5
75.2
4.3
\u2013
94.6
90.4
4.2
\u2013
Insurance\u2002recovery\u2002asset:
pounds\u2002sterling
8.8
8.8
\u2013
\u2013
12.7
11.0
1.7
\u2013
88.3
84.0
4.3
\u2013
107.3
101.4
5.9
\u2013
Total financial assets not measured
at fair value (as restated)*
285.2
280.9
4.3
\u2013
296.1
290.2
5.9
\u2013
The\u2002Group\u2002has\u2002not\u2002disclosed\u2002the\u2002fair\u2002values\u2002for\u2002short-term\u2002trade\u2002receivables\u2002within\u2002financial\u2002assets,\u2002because\u2002their\u2002carrying\u2002amounts\u2002are\u2002a\u2002
reasonable\u2002approximation\u2002of\u2002fair\u2002values.
The\u2002insurance\u2002recovery\u2002asset\u2002is\u2002measured\u2002in\u2002accordance\u2002with\u2002IAS\u200237.
c)\u2002Reconciliation\u2002of\u2002trade\u2002and\u2002other\u2002receivables\u2002and\u2002trade\u2002and\u2002other\u2002payables\u2002to\u2002the\u2002statement\u2002of\u2002financial\u2002position
2024
2023
Current Non-current Current Non-current
\u00a3m \u00a3m \u00a3m \u00a3m
Trade\u2002and\u2002other\u2002receivables\u2002(as\u2002above)\u2002(as\u2002restated)*
84.0
4.3
101.4
5.9
Contract\u2002assets\u2002(as\u2002restated)*
84.0
\u2013
84.8
\u2013
Prepayments
26.1
\u2013
23.1
\u2013
194.1
4.3
209.3
5.9
2024
2023
Current Non-current Current Non-current
\u00a3m \u00a3m \u00a3m \u00a3m
Trade\u2002and\u2002other\u2002payables\u2002(as\u2002above)\u2002(as\u2002re-presented)**
45.5
1.8
69.9
2.2
Social\u2002security
8.8
\u2013
8.6
\u2013
Other\u2002payables
21.0
\u2013
24.1
\u2013
Contract\u2002liabilities\u2002(as\u2002restated)*
56.2
\u2013
63.0
\u2013
Accruals\u2002and\u2002deferred\u2002income\u2002(as\u2002restated)*
139.5
\u2013
115.8
\u2013
271.0
1.8
281.4
2.2
*\u2002 See\u2002note\u200226\u2002for\u2002more\u2002information\u2002on\u2002restatements\u2002**\u2002 Social\u2002security\u2002and\u2002other\u2002payables\u2002were\u2002erroneously\u2002included\u2002as\u2002financial\u2002liabilities\u2002in\u20022023.
d)\u2002Effective\u2002interest\u2002rates\u2002of\u2002financial\u2002assets\u2002and\u2002liabilities\u2002
Financial\u2002assets
2024
2023
Cash\u2002and\u2002cash\u2002equivalents
0.00% to 5.05%
0.00%\u2002to\u20025.15%
Financial\u2002liabilities
The\u2002Group\u2002has\u2002a\u2002\u00a385.0m\u2002(2023:\u2002\u00a385.0m)\u2002Revolving\u2002Credit\u2002Facility\u2002(RCF)\u2002of\u2002which\u2002\u00a3nil\u2002(2023:\u2002\u00a3nil)\u2002was\u2002drawn\u2002at\u2002the\u2002year-end.\u2002The\u2002RCF\u2002is\u2002
unsecured\u2002and\u2002carries\u2002interest\u2002at\u2002floating\u2002rate\u2002at\u2002a\u2002margin\u2002over\u2002SONIA.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-433": { "value": "b)\u2002Currency\u2002and\u2002maturity\u2002of\u2002financial\u2002liabilities Financial\u2002liabilities\u2002not\u2002measured\u2002at\u2002fair\u2002value
2024
2023
Between Between
Within one and Within one and
Total one year five years Total one year five years
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Lease\u2002liabilities\u2002\u2013\u2002pounds\u2002sterling
25.8
13.0
12.8
24.3
10.3
14.0
Trade\u2002payables\u2002and\u2002amounts\u2002owed\u2002to\u2002joint\u2002ventures\u2002and
associates\u2002\u2013\u2002pounds\u2002sterling\u2002(as\u2002re-presented)**
47.3
45.5
1.8
72.1
69.9
2.2
Total financial liabilities not measured at fair value
(as re-presented)**
73.1
58.5
14.6
96.4
80.2
16.2
The\u2002Group\u2002has\u2002not\u2002disclosed\u2002the\u2002fair\u2002values\u2002for\u2002short-term\u2002trade\u2002and\u2002other\u2002payables\u2002and\u2002bank\u2002loans\u2002within\u2002financial\u2002liabilities,\u2002because\u2002their\u2002carrying\u2002amounts\u2002are\u2002a\u2002reasonable\u2002approximation\u2002of\u2002fair\u2002values. Lease\u2002liabilities\u2002are\u2002carried\u2002at\u2002the\u2002present\u2002value\u2002of\u2002the\u2002minimum\u2002lease\u2002payments.\u2002The\u2002expected\u2002undiscounted\u2002lease\u2002payments\u2002on\u2002long- term\u2002and\u2002high\u2002value\u2002leased\u2002assets\u2002included\u2002in\u2002the\u2002IFRS\u200216\u2002discounted\u2002liability\u2002are\u2002within\u2002one\u2002year\u2002\u00a312.1m\u2002(2023:\u2002\u00a313.0m),\u2002two\u2002to\u2002five\u2002years\u2002\u00a319.3m\u2002(2023:\u2002\u00a323.5m)\u2002and\u2002over\u2002five\u2002years\u2002\u00a37.2m\u2002(2023:\u2002\u00a34.2m). There\u2002are\u2002no\u2002financial\u2002liabilities\u2002carried\u2002at\u2002fair\u2002value. The\u2002Company\u2002has\u2002issued\u2002financial\u2002guarantees\u2002relating\u2002to\u2002performance\u2002of\u2002contracts\u2002signed\u2002by\u2002its\u2002subsidiaries,\u2002which\u2002could\u2002be\u2002called\u2002upon\u2002on\u2002demand\u2002if\u2002the\u2002subsidiary\u2002fails\u2002to\u2002perform\u2002under\u2002the\u2002contract.\u2002However,\u2002the\u2002value\u2002of\u2002these\u2002guarantees\u2002is\u2002difficult\u2002to\u2002quantify,\u2002and\u2002they\u2002have\u2002never\u2002been\u2002called. c)\u2002Reconciliation\u2002of\u2002trade\u2002and\u2002other\u2002receivables\u2002and\u2002trade\u2002and\u2002other\u2002payables\u2002to\u2002the\u2002statement\u2002of\u2002financial\u2002position
2024
2023
Current Non-current Current Non-current
\u00a3m \u00a3m \u00a3m \u00a3m
Trade\u2002and\u2002other\u2002receivables\u2002(as\u2002above)\u2002(as\u2002restated)*
84.0
4.3
101.4
5.9
Contract\u2002assets\u2002(as\u2002restated)*
84.0
\u2013
84.8
\u2013
Prepayments
26.1
\u2013
23.1
\u2013
194.1
4.3
209.3
5.9
2024
2023
Current Non-current Current Non-current
\u00a3m \u00a3m \u00a3m \u00a3m
Trade\u2002and\u2002other\u2002payables\u2002(as\u2002above)\u2002(as\u2002re-presented)**
45.5
1.8
69.9
2.2
Social\u2002security
8.8
\u2013
8.6
\u2013
Other\u2002payables
21.0
\u2013
24.1
\u2013
Contract\u2002liabilities\u2002(as\u2002restated)*
56.2
\u2013
63.0
\u2013
Accruals\u2002and\u2002deferred\u2002income\u2002(as\u2002restated)*
139.5
\u2013
115.8
\u2013
271.0
1.8
281.4
2.2
*\u2002 See\u2002note\u200226\u2002for\u2002more\u2002information\u2002on\u2002restatements\u2002**\u2002 Social\u2002security\u2002and\u2002other\u2002payables\u2002were\u2002erroneously\u2002included\u2002as\u2002financial\u2002liabilities\u2002in\u20022023. d)\u2002Effective\u2002interest\u2002rates\u2002of\u2002financial\u2002assets\u2002and\u2002liabilities\u2002Financial\u2002assets
2024
2023
Cash\u2002and\u2002cash\u2002equivalents
0.00% to 5.05%
0.00%\u2002to\u20025.15%
Financial\u2002liabilities The\u2002Group\u2002has\u2002a\u2002\u00a385.0m\u2002(2023:\u2002\u00a385.0m)\u2002Revolving\u2002Credit\u2002Facility\u2002(RCF)\u2002of\u2002which\u2002\u00a3nil\u2002(2023:\u2002\u00a3nil)\u2002was\u2002drawn\u2002at\u2002the\u2002year-end.\u2002The\u2002RCF\u2002is\u2002unsecured\u2002and\u2002carries\u2002interest\u2002at\u2002floating\u2002rate\u2002at\u2002a\u2002margin\u2002over\u2002SONIA.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-420": { "value": "
Measurement of fair value
Valuation\u2002techniques\u2002and\u2002significant\u2002unobservable\u2002inputs
The\u2002following\u2002tables\u2002show\u2002the\u2002valuation\u2002techniques\u2002used\u2002in\u2002measuring\u2002Level\u20022\u2002fair\u2002values,\u2002as\u2002well\u2002as\u2002the\u2002significant\u2002unobservable\u2002inputs\u2002
used.\u2002There\u2002are\u2002no\u2002financial\u2002instruments\u2002whose\u2002fair\u2002value\u2002could\u2002be\u2002determined\u2002under\u2002Level\u20021\u2002or\u20023.
Financial\u2002instruments\u2002not\u2002measured\u2002at\u2002fair\u2002value
Type
Valuation technique
Significant unobservable inputs
Other\u2002financial\u2002liabilities\u2002(as\u2002above)
Discounted\u2002cash\u2002flow
Not\u2002applicable
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-434": { "value": "Measurement of fair value Valuation\u2002techniques\u2002and\u2002significant\u2002unobservable\u2002inputs The\u2002following\u2002tables\u2002show\u2002the\u2002valuation\u2002techniques\u2002used\u2002in\u2002measuring\u2002Level\u20022\u2002fair\u2002values,\u2002as\u2002well\u2002as\u2002the\u2002significant\u2002unobservable\u2002inputs\u2002used.\u2002There\u2002are\u2002no\u2002financial\u2002instruments\u2002whose\u2002fair\u2002value\u2002could\u2002be\u2002determined\u2002under\u2002Level\u20021\u2002or\u20023. Financial\u2002instruments\u2002not\u2002measured\u2002at\u2002fair\u2002value
Type
Valuation technique
Significant unobservable inputs
Other\u2002financial\u2002liabilities\u2002(as\u2002above)
Discounted\u2002cash\u2002flow
Not\u2002applicable
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-421": { "value": "19 Trade and other payables
Group
Company
2023
2024 (as restated)* 2024 2023
\u00a3m \u00a3m \u00a3m \u00a3m
Current liabilities
Trade\u2002payables
45.3
69.3
\u2013
\u2013
Other\u2002payables
21.0
24.1
0.1
0.1
Social\u2002security
8.8
8.6
\u2013
\u2013
Contract\u2002liabilities
56.2
63.0
\u2013
\u2013
Accruals\u2002and\u2002deferred\u2002income
139.5
115.8
0.5
0.5
Amounts\u2002owed\u2002to\u2002joint\u2002ventures\u2002and\u2002associates
0.2
0.6
\u2013
\u2013
Amounts\u2002owed\u2002to\u2002subsidiary\u2002undertakings
\u2013
\u2013
46.0
40.2
271.0
281.4
46.6
40.8
Non-current liabilities
Other\u2002payables
1.8
2.2
\u2013
\u2013
1.8
2.2
\u2013
\u2013
*\u2002 See\u2002note\u200226\u2002for\u2002more\u2002information\u2002on\u2002restatements. Accruals\u2002and\u2002deferred\u2002income\u2002include\u2002subcontract\u2002liabilities\u2002(not\u2002yet\u2002payable),\u2002subcontract\u2002retentions\u2002and\u2002other\u2002accruals\u2002and\u2002deferred\u2002income. \u00a317.5m\u2002(2023\u2002(as\u2002restated)*:\u2002\u00a30.8m)\u2002of\u2002the\u2002amounts\u2002included\u2002in\u2002contract\u2002liabilities\u2002and\u2002deferred\u2002income\u2002at\u200231\u2002December\u20022023\u2002has\u2002been\u2002recognised\u2002in\u2002the\u2002income\u2002statement\u2002in\u2002the\u2002year. Other\u2002payables\u2002primarily\u2002includes\u2002the\u2002VAT\u2002liability. The\u2002directors\u2002consider\u2002that\u2002the\u2002carrying\u2002amount\u2002of\u2002trade\u2002payables\u2002and\u2002amounts\u2002owed\u2002to\u2002joint\u2002ventures\u2002and\u2002associates\u2002approximates\u2002to\u2002their\u2002fair\u2002value. Financial\u2002risk\u2002management\u2002policies\u2002are\u2002in\u2002place\u2002that\u2002seek\u2002to\u2002ensure\u2002that\u2002all\u2002payables\u2002are\u2002paid\u2002within\u2002their\u2002credit\u2002timeframes. ", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-359": { "value": "19 Trade and other payables
Group
Company
2023
2024 (as restated)* 2024 2023
\u00a3m \u00a3m \u00a3m \u00a3m
Current liabilities
Trade\u2002payables
45.3
69.3
\u2013
\u2013
Other\u2002payables
21.0
24.1
0.1
0.1
Social\u2002security
8.8
8.6
\u2013
\u2013
Contract\u2002liabilities
56.2
63.0
\u2013
\u2013
Accruals\u2002and\u2002deferred\u2002income
139.5
115.8
0.5
0.5
Amounts\u2002owed\u2002to\u2002joint\u2002ventures\u2002and\u2002associates
0.2
0.6
\u2013
\u2013
Amounts\u2002owed\u2002to\u2002subsidiary\u2002undertakings
\u2013
\u2013
46.0
40.2
271.0
281.4
46.6
40.8
Non-current liabilities
Other\u2002payables
1.8
2.2
\u2013
\u2013
1.8
2.2
\u2013
\u2013
*\u2002 See\u2002note\u200226\u2002for\u2002more\u2002information\u2002on\u2002restatements. Accruals\u2002and\u2002deferred\u2002income\u2002include\u2002subcontract\u2002liabilities\u2002(not\u2002yet\u2002payable),\u2002subcontract\u2002retentions\u2002and\u2002other\u2002accruals\u2002and\u2002deferred\u2002income. \u00a317.5m\u2002(2023\u2002(as\u2002restated)*:\u2002\u00a30.8m)\u2002of\u2002the\u2002amounts\u2002included\u2002in\u2002contract\u2002liabilities\u2002and\u2002deferred\u2002income\u2002at\u200231\u2002December\u20022023\u2002has\u2002been\u2002recognised\u2002in\u2002the\u2002income\u2002statement\u2002in\u2002the\u2002year. Other\u2002payables\u2002primarily\u2002includes\u2002the\u2002VAT\u2002liability. The\u2002directors\u2002consider\u2002that\u2002the\u2002carrying\u2002amount\u2002of\u2002trade\u2002payables\u2002and\u2002amounts\u2002owed\u2002to\u2002joint\u2002ventures\u2002and\u2002associates\u2002approximates\u2002to\u2002their\u2002fair\u2002value. Financial\u2002risk\u2002management\u2002policies\u2002are\u2002in\u2002place\u2002that\u2002seek\u2002to\u2002ensure\u2002that\u2002all\u2002payables\u2002are\u2002paid\u2002within\u2002their\u2002credit\u2002timeframes. ", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-392": { "value": "
Accruals\u2002and\u2002deferred\u2002income\u2002include\u2002subcontract\u2002liabilities\u2002(not\u2002yet\u2002payable),\u2002subcontract\u2002retentions\u2002and\u2002other\u2002accruals\u2002and\u2002
deferred\u2002income.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredIncomeExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-360": { "value": "
20 Provisions for other liabilities and charges
Rectification
provision Other Total
Group \u00a3m \u00a3m \u00a3m
Current
At\u20021\u2002January\u20022023
8.5
0.9
9.4
Provided
2.2
2.3
4.5
Utilised
(2.8)
(0.1)
(2.9)
Released
\u2013
(0.4)
(0.4)
Reclassified\u2002from\u2002non-current
3.7
\u2013
3.7
At\u200231\u2002December\u20022023
11.6
2.7
14.3
At\u20021\u2002January\u20022024
11.6
2.7
14.3
Provided
2.6
6.6
9.2
Utilised
(8.4)
(0.1)
(8.5)
Released
\u2013
(2.1)
(2.1)
At 31 December 2024
5.8
7.1
12.9
Non-current
At\u20021\u2002January\u20022023
3.7
\u2013
3.7
Reclassified\u2002to\u2002current
(3.7)
\u2013
(3.7)
At\u200231\u2002December\u20022023
\u2013
\u2013
\u2013
At\u20021\u2002January\u20022024
\u2013
\u2013
\u2013
At 31 December 2024
\u2013
\u2013
\u2013
Group Rectification\u2002provision:\u2002Contract\u2002in\u2002the\u2002water\u2002sector In\u20022021,\u2002Costain\u2002recognised\u2002a\u2002provision\u2002in\u2002respect\u2002of\u2002the\u2002estimated\u2002future\u2002costs\u2002of\u2002expected\u2002rectification\u2002works\u2002required\u2002at\u2002a\u2002customer\u2019s\u2002water\u2002treatment\u2002facility\u2002where\u2002the\u2002Group\u2002had\u2002been\u2002prime\u2002contractor. During\u20022024,\u2002the\u2002detailed\u2002design\u2002of\u2002the\u2002solution\u2002has\u2002been\u2002completed\u2002and\u2002works\u2002have\u2002commenced\u2002on\u2002site.\u2002Costs\u2002of\u2002\u00a316.1m\u2002have\u2002been\u2002incurred\u2002to\u2002date\u2002against\u2002a\u2002revised\u2002total\u2002estimated\u2002cost\u2002of\u2002\u00a321.9m,\u2002with\u2002this\u2002increase\u2002predominantly\u2002as\u2002a\u2002result\u2002of\u2002civils\u2002costs\u2002and\u2002delays\u2002in\u2002the\u2002supply\u2002chain.\u2002The\u2002provision\u2002disclosed\u2002in\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002is\u2002therefore\u2002\u00a35.8m.\u2002Work\u2002is\u2002now\u2002due\u2002to\u2002be\u2002completed\u2002in\u20022025.\u2002As\u2002first\u2002reported\u2002in\u20022022,\u2002Costain\u2002has\u2002engaged\u2002with\u2002its\u2002insurers\u2002and\u2002received\u2002confirmation\u2002that\u2002insurance\u2002cover\u2002is\u2002available\u2002and\u2002that\u2002all\u2002reasonable\u2002costs\u2002of\u2002rectification\u2002work\u2002that\u2002are\u2002validly\u2002incurred\u2002will\u2002be\u2002met\u2002by\u2002insurers.\u2002Consistent\u2002with\u2002this,\u2002insurers\u2002continued\u2002to\u2002make\u2002interim\u2002payments\u2002on\u2002account\u2002during\u20022024.\u2002Accordingly,\u2002an\u2002insurance\u2002receivable\u2002of\u2002\u00a38.8m\u2002is\u2002recognised\u2002in\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002at\u200231\u2002December\u20022024\u2002in\u2002accordance\u2002with\u2002IAS\u200237\u2002on\u2002the\u2002basis\u2002that\u2002recovery\u2002is\u2002considered\u2002virtually\u2002certain\u2002and\u2002is\u2002expected\u2002in\u20022025.\u2002There\u2002is\u2002a\u2002cap\u2002on\u2002insurance\u2002but\u2002the\u2002cap\u2002is\u2002significantly\u2002in\u2002excess\u2002of\u2002the\u2002cost\u2002estimate.\u2002As\u2002at\u200231\u2002December\u20022023\u2002and\u20022022\u2002respectively,\u2002\u00a312.7m\u2002and\u2002\u00a313.4m\u2002had\u2002been\u2002recognised\u2002as\u2002an\u2002insurance\u2002receivable. Whilst\u2002the\u2002cost\u2002provision\u2002is\u2002management\u2019s\u2002best\u2002estimate,\u2002there\u2002may\u2002be\u2002variances\u2002to\u2002this\u2002estimate\u2002due\u2002to\u2002unforeseen\u2002events.\u2002It\u2002is\u2002therefore\u2002reasonably\u2002foreseeable\u2002that\u2002adjustments\u2002to\u2002the\u2002amounts\u2002recognised\u2002as\u2002a\u2002provision\u2002may\u2002be\u2002required. However,\u2002given\u2002the\u2002relationship\u2002between\u2002the\u2002insurance\u2002policy\u2002and\u2002the\u2002liability,\u2002management\u2002does\u2002not\u2002consider\u2002that\u2002any\u2002increase\u2002in\u2002the\u2002cost\u2002of\u2002the\u2002rectification\u2002works\u2002will\u2002result\u2002in\u2002a\u2002material\u2002impact\u2002to\u2002the\u2002Group\u2019s\u2002financial\u2002position. Further\u2002information\u2002on\u2002estimates\u2002and\u2002judgements\u2002made\u2002in\u2002relation\u2002to\u2002this\u2002provision\u2002are\u2002given\u2002in\u2002note\u20022. Other\u2002provisions\u2002mainly\u2002comprise\u2002provisions\u2002for\u2002dilapidations\u2002which\u2002are\u2002expected\u2002to\u2002be\u2002utilised\u2002in\u2002line\u2002with\u2002cessation\u2002of\u2002the\u2002relevant\u2002leases\u2002and\u2002a\u2002provision\u2002for\u2002a\u2002fire\u2002safety\u2002compliance\u2002claim\u2002(see\u2002note\u20023),\u2002which\u2002is\u2002expected\u2002to\u2002be\u2002utilised\u2002in\u2002the\u2002next\u2002year. ", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-393": { "value": "20 Provisions for other liabilities and charges
Rectification
provision Other Total
Group \u00a3m \u00a3m \u00a3m
Current
At\u20021\u2002January\u20022023
8.5
0.9
9.4
Provided
2.2
2.3
4.5
Utilised
(2.8)
(0.1)
(2.9)
Released
\u2013
(0.4)
(0.4)
Reclassified\u2002from\u2002non-current
3.7
\u2013
3.7
At\u200231\u2002December\u20022023
11.6
2.7
14.3
At\u20021\u2002January\u20022024
11.6
2.7
14.3
Provided
2.6
6.6
9.2
Utilised
(8.4)
(0.1)
(8.5)
Released
\u2013
(2.1)
(2.1)
At 31 December 2024
5.8
7.1
12.9
Non-current
At\u20021\u2002January\u20022023
3.7
\u2013
3.7
Reclassified\u2002to\u2002current
(3.7)
\u2013
(3.7)
At\u200231\u2002December\u20022023
\u2013
\u2013
\u2013
At\u20021\u2002January\u20022024
\u2013
\u2013
\u2013
At 31 December 2024
\u2013
\u2013
\u2013
Group Rectification\u2002provision:\u2002Contract\u2002in\u2002the\u2002water\u2002sector In\u20022021,\u2002Costain\u2002recognised\u2002a\u2002provision\u2002in\u2002respect\u2002of\u2002the\u2002estimated\u2002future\u2002costs\u2002of\u2002expected\u2002rectification\u2002works\u2002required\u2002at\u2002a\u2002customer\u2019s\u2002water\u2002treatment\u2002facility\u2002where\u2002the\u2002Group\u2002had\u2002been\u2002prime\u2002contractor. During\u20022024,\u2002the\u2002detailed\u2002design\u2002of\u2002the\u2002solution\u2002has\u2002been\u2002completed\u2002and\u2002works\u2002have\u2002commenced\u2002on\u2002site.\u2002Costs\u2002of\u2002\u00a316.1m\u2002have\u2002been\u2002incurred\u2002to\u2002date\u2002against\u2002a\u2002revised\u2002total\u2002estimated\u2002cost\u2002of\u2002\u00a321.9m,\u2002with\u2002this\u2002increase\u2002predominantly\u2002as\u2002a\u2002result\u2002of\u2002civils\u2002costs\u2002and\u2002delays\u2002in\u2002the\u2002supply\u2002chain.\u2002The\u2002provision\u2002disclosed\u2002in\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002is\u2002therefore\u2002\u00a35.8m.\u2002Work\u2002is\u2002now\u2002due\u2002to\u2002be\u2002completed\u2002in\u20022025.\u2002As\u2002first\u2002reported\u2002in\u20022022,\u2002Costain\u2002has\u2002engaged\u2002with\u2002its\u2002insurers\u2002and\u2002received\u2002confirmation\u2002that\u2002insurance\u2002cover\u2002is\u2002available\u2002and\u2002that\u2002all\u2002reasonable\u2002costs\u2002of\u2002rectification\u2002work\u2002that\u2002are\u2002validly\u2002incurred\u2002will\u2002be\u2002met\u2002by\u2002insurers.\u2002Consistent\u2002with\u2002this,\u2002insurers\u2002continued\u2002to\u2002make\u2002interim\u2002payments\u2002on\u2002account\u2002during\u20022024.\u2002Accordingly,\u2002an\u2002insurance\u2002receivable\u2002of\u2002\u00a38.8m\u2002is\u2002recognised\u2002in\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002at\u200231\u2002December\u20022024\u2002in\u2002accordance\u2002with\u2002IAS\u200237\u2002on\u2002the\u2002basis\u2002that\u2002recovery\u2002is\u2002considered\u2002virtually\u2002certain\u2002and\u2002is\u2002expected\u2002in\u20022025.\u2002There\u2002is\u2002a\u2002cap\u2002on\u2002insurance\u2002but\u2002the\u2002cap\u2002is\u2002significantly\u2002in\u2002excess\u2002of\u2002the\u2002cost\u2002estimate.\u2002As\u2002at\u200231\u2002December\u20022023\u2002and\u20022022\u2002respectively,\u2002\u00a312.7m\u2002and\u2002\u00a313.4m\u2002had\u2002been\u2002recognised\u2002as\u2002an\u2002insurance\u2002receivable. Whilst\u2002the\u2002cost\u2002provision\u2002is\u2002management\u2019s\u2002best\u2002estimate,\u2002there\u2002may\u2002be\u2002variances\u2002to\u2002this\u2002estimate\u2002due\u2002to\u2002unforeseen\u2002events.\u2002It\u2002is\u2002therefore\u2002reasonably\u2002foreseeable\u2002that\u2002adjustments\u2002to\u2002the\u2002amounts\u2002recognised\u2002as\u2002a\u2002provision\u2002may\u2002be\u2002required. However,\u2002given\u2002the\u2002relationship\u2002between\u2002the\u2002insurance\u2002policy\u2002and\u2002the\u2002liability,\u2002management\u2002does\u2002not\u2002consider\u2002that\u2002any\u2002increase\u2002in\u2002the\u2002cost\u2002of\u2002the\u2002rectification\u2002works\u2002will\u2002result\u2002in\u2002a\u2002material\u2002impact\u2002to\u2002the\u2002Group\u2019s\u2002financial\u2002position. Further\u2002information\u2002on\u2002estimates\u2002and\u2002judgements\u2002made\u2002in\u2002relation\u2002to\u2002this\u2002provision\u2002are\u2002given\u2002in\u2002note\u20022. Other\u2002provisions\u2002mainly\u2002comprise\u2002provisions\u2002for\u2002dilapidations\u2002which\u2002are\u2002expected\u2002to\u2002be\u2002utilised\u2002in\u2002line\u2002with\u2002cessation\u2002of\u2002the\u2002relevant\u2002leases\u2002and\u2002a\u2002provision\u2002for\u2002a\u2002fire\u2002safety\u2002compliance\u2002claim\u2002(see\u2002note\u20023),\u2002which\u2002is\u2002expected\u2002to\u2002be\u2002utilised\u2002in\u2002the\u2002next\u2002year. 23 Contingent liabilities Group Fire\u2002safety\u2002compliance\u2002claims The\u2002Group\u2002ceased\u2002construction\u2002of\u2002residential\u2002buildings\u2002in\u20022013,\u2002which\u2002was\u2002never\u2002a\u2002major\u2002part\u2002of\u2002business\u2002operations.\u2002The\u2002Group\u2002has\u2002undertaken\u2002a\u2002review\u2002of\u2002its\u2002small\u2002number\u2002of\u2002legacy\u2002residential\u2002building\u2002constructions\u2002to\u2002identify\u2002where\u2002fire\u2002safety\u2002obligations\u2002could\u2002exist.\u2002The\u2002buildings,\u2002including\u2002the\u2002cladding\u2002works,\u2002were\u2002signed\u2002off\u2002by\u2002approved\u2002inspectors\u2002as\u2002compliant\u2002with\u2002the\u2002relevant\u2002building\u2002regulations\u2002at\u2002the\u2002time\u2002of\u2002completion. In\u2002preparing\u2002the\u2002financial\u2002statements,\u2002where\u2002a\u2002probable\u2002rectification\u2002obligation\u2002related\u2002to\u2002fire\u2002safety\u2002compliance\u2002has\u2002been\u2002identified,\u2002costs\u2002to\u2002rectify\u2002have\u2002been\u2002estimated,\u2002and\u2002a\u2002provision\u2002has\u2002been\u2002made.\u2002No\u2002provision\u2002has\u2002been\u2002made\u2002where\u2002an\u2002obligation\u2002has\u2002not\u2002been\u2002established. Virgin\u2002Media\u2002High\u2002Court\u2002Case In\u2002June\u20022023,\u2002the\u2002High\u2002Court\u2002judged\u2002in\u2002the\u2002Virgin\u2002Media\u2002vs\u2002NTL\u2002Pension\u2002Trustee\u2002case\u2002that\u2002certain\u2002amendments\u2002made\u2002to\u2002the\u2002NTL\u2002Pension\u2002Plan\u2002were\u2002invalid\u2002because\u2002the\u2002scheme\u2019s\u2002actuary\u2002had\u2002not\u2002provided\u2002the\u2002necessary\u2002confirmations\u2002(\u2018Section\u200237\u2002Certificates\u2019).\u2002The\u2002High\u2002Court\u2019s\u2002decision\u2002has\u2002wider\u2002ranging\u2002implications,\u2002affecting\u2002other\u2002schemes\u2002(such\u2002as\u2002the\u2002Costain\u2002Pension\u2002Scheme)\u2002that\u2002were\u2002contracted- out\u2002on\u2002a\u2002salary-related\u2002basis,\u2002and\u2002made\u2002amendments\u2002between\u2002April\u20021997\u2002and\u2002April\u20022016. The\u2002ruling\u2002was\u2002appealed\u2002and\u2002the\u2002case\u2002was\u2002heard\u2002by\u2002the\u2002Court\u2002of\u2002Appeal\u2002in\u2002June\u20022024.\u2002In\u2002July\u20022024,\u2002the\u2002case\u2002was\u2002upheld\u2002and\u2002the\u2002original\u2002judgement\u2002stands.\u2002There\u2002is\u2002still\u2002the\u2002potential\u2002for\u2002overriding\u2002government\u2002legislation\u2002to\u2002be\u2002introduced.\u2002As\u2002a\u2002result\u2002the\u2002Company\u2002and\u2002the\u2002Trustee\u2002of\u2002the\u2002Costain\u2002Pension\u2002Scheme\u2002cannot\u2002at\u2002this\u2002stage\u2002be\u2002certain\u2002of\u2002the\u2002potential\u2002implications\u2002(if\u2002any).\u2002The\u2002Company\u2002and\u2002the\u2002Trustee\u2002of\u2002the\u2002Costain\u2002Pension\u2002Scheme\u2002will\u2002continue\u2002to\u2002seek\u2002legal\u2002advice\u2002on\u2002the\u2002matter\u2002and\u2002act\u2002accordingly\u2002as\u2002the\u2002situation\u2002evolves. Guarantee\u2002contracts Group\u2002bank\u2002borrowing\u2002facilities\u2002and\u2002bank\u2002and\u2002surety\u2002bonding\u2002facilities\u2002are\u2002supported\u2002by\u2002cross-guarantees\u2002given\u2002by\u2002the\u2002Company\u2002and\u2002participating\u2002companies\u2002in\u2002the\u2002Group. There\u2002are\u2002contingent\u2002liabilities\u2002in\u2002respect\u2002of: \u2022 performance\u2002bonds\u2002and\u2002other\u2002undertakings\u2002entered\u2002into\u2002in\u2002the\u2002ordinary\u2002course\u2002of\u2002business;\u2002and \u2022 legal\u2002claims\u2002arising\u2002in\u2002the\u2002ordinary\u2002course\u2002of\u2002business. It\u2002is\u2002not\u2002anticipated\u2002that\u2002any\u2002material\u2002liabilities\u2002will\u2002arise\u2002from\u2002the\u2002contingent\u2002liabilities\u2002other\u2002than\u2002those\u2002provided. Company The\u2002Company\u2002has\u2002guaranteed\u2002the\u2002obligations\u2002of\u2002the\u2002subsidiary\u2002companies\u2002that\u2002are\u2002participating\u2002employers\u2002of\u2002The\u2002Costain\u2002Pension\u2002Scheme,\u2002the\u2002defined\u2002benefit\u2002pension\u2002scheme\u2002in\u2002the\u2002UK.\u2002At\u200231\u2002December\u20022024,\u2002the\u2002asset\u2002was\u2002\u00a354.9m\u2002(2023:\u2002\u00a353.5m)\u2002on\u2002an\u2002IAS\u200219\u2002basis\u2002and\u2002is\u2002included\u2002in\u2002these\u2002financial\u2002statements\u2002as\u2002disclosed\u2002in\u2002note\u200221.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-394": { "value": "Defined\u2002benefit\u2002scheme The\u2002defined\u2002benefit\u2002scheme\u2002was\u2002closed\u2002to\u2002new\u2002members\u2002on\u200231\u2002May\u20022005\u2002and\u2002from\u20021\u2002April\u20022006,\u2002future\u2002benefits\u2002were\u2002calculated\u2002on\u2002a\u2002Career\u2002Average\u2002Revalued\u2002Earnings\u2002basis.\u2002The\u2002scheme\u2002was\u2002closed\u2002to\u2002future\u2002accrual\u2002of\u2002benefits\u2002to\u2002members\u2002on\u200230\u2002September\u20022009.\u2002A\u2002full\u2002actuarial\u2002valuation\u2002of\u2002the\u2002scheme\u2002was\u2002carried\u2002out\u2002as\u2002at\u200231\u2002March\u20022022\u2002and\u2002this\u2002was\u2002updated\u2002to\u200231\u2002December\u20022024\u2002by\u2002a\u2002qualified\u2002independent\u2002actuary.\u2002At\u200231\u2002December\u20022024,\u2002there\u2002were\u20022,886\u2002retirees\u2002and\u20022,601\u2002deferred\u2002members\u2002(2023\u2002(restated):\u20022,886\u2002retirees\u2002and\u20022,601\u2002deferred\u2002members).\u2002In\u2002previous\u2002annual\u2002reports,\u2002Costain\u2002has\u2002reported\u2002the\u2002actual\u2002number\u2002of\u2002retirees\u2002and\u2002deferred\u2002members\u2002as\u2002provided\u2002by\u2002its\u2002administrator;\u2002however,\u2002as\u2002per\u2002IAS\u200219,\u2002the\u2002number\u2002of\u2002retirees\u2002and\u2002deferred\u2002members\u2002used\u2002in\u2002the\u2002IAS\u200219\u2002calculation\u2002should\u2002be\u2002reported\u2002and\u2002therefore\u2002Costain\u2002has\u2002restated\u2002the\u20022023\u2002comparatives.\u2002The\u2002number\u2002now\u2002reported\u2002represents\u2002membership\u2002data\u2002taken\u2002from\u2002the\u2002March\u20022022\u2002triennial\u2002valuation;\u2002it\u2002is\u2002not\u2002rolled\u2002forward\u2002in\u2002the\u2002IAS\u200219\u2002calculations.\u2002The\u2002weighted\u2002average\u2002duration\u2002of\u2002the\u2002obligations\u2002is\u200211.0\u2002years\u2002(2023:\u200211.9\u2002years).
2024 2023 2022
\u00a3m \u00a3m \u00a3m
Present\u2002value\u2002of\u2002defined\u2002benefit\u2002obligations
(497.5)
(542.6)
(527.1)
Fair\u2002value\u2002of\u2002scheme\u2002assets
552.4
596.1
587.3
Recognised\u2002asset\u2002for\u2002defined\u2002benefit\u2002obligations
54.9
53.5
60.2
2024 2023
Movements in present value of defined benefit obligations \u00a3m \u00a3m
At\u20021\u2002January
542.6
527.1
Interest\u2002cost
25.0
25.5
Remeasurements\u2002\u2013\u2002demographic\u2002assumptions
0.5
(1.0)
Remeasurements\u2002\u2013\u2002financial\u2002assumptions
(41.0)
14.8
Remeasurements\u2002\u2013\u2002experience\u2002adjustments
3.7
10.5
Benefits\u2002paid
(33.3)
(34.3)
At 31 December
497.5
542.6
2024 2023
Movements in fair value of scheme assets \u00a3m \u00a3m
At\u20021\u2002January
596.1
587.3
Interest\u2002income
27.6
28.7
Remeasurements\u2002\u2013\u2002return\u2002on\u2002assets
(39.9)
6.5
Contributions\u2002by\u2002employer
2.0
8.1
Administrative\u2002expenses
(0.1)
(0.2)
Benefits\u2002paid
(33.3)
(34.3)
At 31 December
552.4
596.1
2024 2023
Expense recognised in the income statement \u00a3m \u00a3m
Administrative\u2002expenses\u2002paid\u2002by\u2002the\u2002pension\u2002scheme
(0.1)
(0.2)
Administrative\u2002expenses\u2002paid\u2002directly\u2002by\u2002the\u2002Group
(1.8)
(1.8)
Interest\u2002income\u2002on\u2002the\u2002net\u2002assets\u2002of\u2002the\u2002defined\u2002benefit\u2002pension\u2002scheme
2.6
3.2
0.7
1.2
2024 2023
Fair value of scheme assets \u00a3m \u00a3m
Global\u2002equities
90.0
99.5
Multi-asset\u2002growth\u2002funds
20.7
65.9
Multi-credit\u2002fund
83.8
96.6
LDI\u2002plus\u2002collateral
339.7
323.8
Cash
18.2
10.3
552.4
596.1
All\u2002equities\u2002are\u2002quoted\u2002securities.\u2002The\u2002multi-asset\u2002growth\u2002funds\u2002comprise\u2002portfolios\u2002of\u2002quoted\u2002and\u2002unquoted\u2002investments.\u2002The\u2002multi-credit\u2002fund\u2002invests\u2002in\u2002a\u2002portfolio\u2002of\u2002primarily\u2002floating\u2002rate\u2002debt\u2002of\u2002non-investment\u2002grade\u2002or\u2002unrated\u2002borrowers.\u2002The\u2002Liability\u2002Driven\u2002Investments\u2002(LDI)\u2002portfolio\u2002comprises\u2002gilts,\u2002repurchase\u2002agreements\u2002and\u2002swaps\u2002and\u2002is\u2002supported\u2002by\u2002a\u2002liquid\u2002absolute\u2002return\u2002fund\u2002providing\u2002collateral. Quoted\u2002equities\u2002are\u2002valued\u2002at\u2002the\u2002prevailing\u2002bid,\u2002offer\u2002or\u2002middle\u2002market\u2002stock\u2002exchange\u2002or\u2002over-the-counter\u2002market\u2002prices.\u2002In\u2002the\u2002multi-asset\u2002growth\u2002funds,\u2002the\u2002fair\u2002values\u2002of\u2002the\u2002underlying\u2002unquoted\u2002assets\u2002are\u2002determined\u2002by\u2002the\u2002fund\u2002managers\u2002using\u2002quoted\u2002prices\u2002for\u2002similar\u2002assets\u2002or\u2002other\u2002valuation\u2002techniques\u2002where\u2002all\u2002the\u2002inputs\u2002are\u2002directly\u2002observable\u2002or\u2002indirectly\u2002observable\u2002from\u2002market\u2002data.\u2002The\u2002loans\u2002in\u2002the\u2002multi-credit\u2002fund\u2002may\u2002be\u2002priced\u2002either\u2002using\u2002quotes\u2002from\u2002a\u2002pricing\u2002vendor\u2002(if\u2002available),\u2002a\u2002broker\u2002or\u2002at\u2002a\u2002level\u2002determined\u2002by\u2002the\u2002investment\u2002manager\u2002that\u2002is\u2002agreed\u2002with\u2002the\u2002fund.\u2002The\u2002LDI\u2002fund\u2002is\u2002valued\u2002using\u2002a\u2002unit\u2002price\u2002calculated\u2002for\u2002the\u2002fund\u2002based\u2002on\u2002the\u2002net\u2002asset\u2002value\u2002of\u2002the\u2002underlying\u2002assets. The\u2002pension\u2002scheme\u2002does\u2002not\u2002have\u2002any\u2002assets\u2002invested\u2002in\u2002the\u2002Group\u2019s\u2002financial\u2002instruments\u2002or\u2002in\u2002property\u2002or\u2002other\u2002assets\u2002used\u2002by\u2002the\u2002Group.
2024 2023 2022
Principal actuarial assumptions (expressed as weighted averages) % % %
Discount\u2002rate
5.50
4.75
5.00
Future\u2002pension\u2002increases
2.95
2.90
2.90
Inflation\u2002assumption
3.10
3.05
3.10
Weighted\u2002average\u2002life\u2002expectancies\u2002from\u2002age\u200265,\u2002as\u2002per\u2002mortality\u2002tables,\u2002used\u2002to\u2002determine\u2002benefits\u2002at\u200231\u2002December\u20022024\u2002and\u200231\u2002December\u20022023\u2002are:
2024
2023
Male Female Male Female
(years) (years) (years) (years)
Currently\u2002aged\u200265
21.9
23.8
22.0
23.8
Non-retirees\u2002currently\u2002aged\u200245
22.9
25.1
22.9
25.1
The\u2002discount\u2002rate,\u2002inflation\u2002and\u2002pension\u2002increase\u2002and\u2002mortality\u2002assumptions\u2002have\u2002a\u2002significant\u2002effect\u2002on\u2002the\u2002amounts\u2002reported.\u2002Changes\u2002in\u2002these\u2002assumptions\u2002would\u2002have\u2002the\u2002following\u2002effects\u2002on\u2002the\u2002defined\u2002benefit\u2002scheme:
Pension liability Pension cost
\u00a3m \u00a3m
Increasing\u2002the\u2002discount\u2002rate\u2002by\u20020.25%,\u2002decreases\u2002pension\u2002liability\u2002
and\u2002increases\u2002pension\u2002income/reduces\u2002pension\u2002cost\u2002by
Decreasing\u2002inflation\u2002by\u20020.25%\u2002(which\u2002reduces\u2002pension\u2002increases),\u2002decreases
13.4
0.7
pension\u2002liability\u2002and\u2002increases\u2002pension\u2002income/reduces\u2002pension\u2002cost\u2002by
Increasing\u2002life\u2002expectancy\u2002by\u2002one\u2002year,\u2002increases\u2002pension\u2002liability
12.0
0.7
and\u2002reduces\u2002pension\u2002income/increases\u2002pension\u2002cost\u2002by\u2002
16.9
0.9
As\u2002highlighted\u2002in\u2002the\u2002table\u2002above,\u2002the\u2002defined\u2002benefit\u2002scheme\u2002exposes\u2002the\u2002Group\u2002to\u2002actuarial\u2002risks\u2002such\u2002as\u2002longevity,\u2002interest\u2002rate,\u2002inflation\u2002and\u2002investment\u2002risks.\u2002The\u2002LDI\u2002portfolio\u2002is\u2002designed\u2002to\u2002respond\u2002to\u2002changes\u2002in\u2002gilt\u2002yields\u2002in\u2002a\u2002similar\u2002way\u2002to\u2002a\u2002fixed\u2002proportion\u2002of\u2002the\u2002liabilities.\u2002With\u2002the\u2002LDI\u2002portfolio,\u2002if\u2002gilt\u2002yields\u2002fall,\u2002the\u2002value\u2002of\u2002the\u2002investments\u2002will\u2002rise\u2002to\u2002help\u2002partially\u2002match\u2002the\u2002increase\u2002in\u2002the\u2002trustee\u2002valuation\u2002of\u2002the\u2002liabilities\u2002arising\u2002from\u2002a\u2002fall\u2002in\u2002the\u2002gilt\u2002yield-based\u2002discount\u2002rate.\u2002Similarly,\u2002if\u2002gilt\u2002yields\u2002rise,\u2002the\u2002value\u2002of\u2002the\u2002matching\u2002asset\u2002portfolio\u2002will\u2002fall,\u2002as\u2002will\u2002the\u2002valuation\u2002of\u2002the\u2002liabilities\u2002because\u2002of\u2002an\u2002increase\u2002in\u2002the\u2002discount\u2002rate.\u2002The\u2002leverage\u2002within\u2002the\u2002LDI\u2002portfolio\u2002means\u2002the\u2002equivalent\u2002of\u200295%\u2002of\u2002the\u2002value\u2002of\u2002the\u2002assets\u2002is\u2002sensitive\u2002to\u2002changes\u2002in\u2002interest\u2002rates\u2002and\u2002inflation\u2002and\u2002this\u2002mitigates\u2002the\u2002equivalent\u2002movement\u2002in\u2002the\u2002liabilities\u2002of\u2002the\u2002scheme\u2002as\u2002a\u2002whole.\u2002In\u2002accordance\u2002with\u2002the\u2002pension\u2002regulations,\u2002a\u2002triennial\u2002actuarial\u2002review\u2002of\u2002the\u2002Costain\u2002defined\u2002benefit\u2002pension\u2002scheme\u2002was\u2002carried\u2002out\u2002as\u2002at\u200231\u2002March\u20022022.\u2002In\u2002June\u20022023,\u2002the\u2002valuation\u2002and\u2002updated\u2002deficit\u2002recovery\u2002plan\u2002were\u2002agreed\u2002with\u2002the\u2002Scheme\u2002Trustee\u2002resulting\u2002in\u2002cash\u2002contributions\u2002of\u2002\u00a33.3m\u2002for\u2002each\u2002year\u2002commencing\u20021\u2002July\u20022023\u2002(increasing\u2002annually\u2002with\u2002inflation)\u2002until\u2002the\u2002deficit\u2002is\u2002cleared,\u2002which\u2002would\u2002be\u2002in\u20022027,\u2002on\u2002the\u2002basis\u2002of\u2002the\u2002assumptions\u2002made\u2002in\u2002the\u20022022\u2002valuation\u2002and\u2002agreed\u2002recovery\u2002plan.\u2002As\u2002at\u2002the\u2002annual\u2002review\u2002on\u20021\u2002April\u20022024,\u2002the\u2002pension\u2002scheme\u2002had\u2002a\u2002surplus\u2002of\u2002101%,\u2002on\u2002the\u2002technical\u2002provisions\u2002basis,\u2002resulting\u2002in\u2002the\u2002Company\u2019s\u2002contributions\u2002stopping\u2002from\u20021\u2002July\u20022024\u2002in\u2002accordance\u2002with\u2002the\u2002recovery\u2002plan.\u2002The\u2002next\u2002annual\u2002review\u2002will\u2002be\u2002on\u20021\u2002April\u20022025. The\u2002next\u2002triennial\u2002actuarial\u2002review\u2002will\u2002be\u2002carried\u2002out\u2002as\u2002at\u200231\u2002March\u20022025\u2002and\u2002completed\u2002by\u2002March\u20022026. In\u2002addition,\u2002as\u2002previously\u2002implemented,\u2002the\u2002Group\u2002will\u2002continue\u2002to\u2002make\u2002an\u2002additional\u2002contribution\u2002so\u2002that\u2002the\u2002total\u2002deficit\u2002contributions\u2002match\u2002the\u2002total\u2002dividend\u2002amount\u2002paid\u2002by\u2002the\u2002Company\u2002each\u2002year,\u2002if\u2002required.\u2002As\u2002a\u2002result\u2002of\u2002the\u2002surplus\u2002at\u2002the\u2002annual\u2002review\u2002on\u20021\u2002April\u20022024,\u2002\u2018dividend\u2002parity\u2019\u2002was\u2002suspended\u2002for\u2002a\u2002year\u2002also.\u2002Any\u2002additional\u2002payments\u2002in\u2002this\u2002regard\u2002would\u2002have\u2002the\u2002effect\u2002of\u2002reducing\u2002the\u2002recovery\u2002period\u2002in\u2002the\u2002agreed\u2002plan.\u2002The\u2002Group\u2002will\u2002also\u2002pay\u2002the\u2002expenses\u2002of\u2002administration\u2002in\u2002the\u2002next\u2002financial\u2002year. Any\u2002surplus\u2002of\u2002deficit\u2002contributions\u2002to\u2002the\u2002Costain\u2002Pension\u2002Scheme\u2002would\u2002be\u2002recoverable\u2002by\u2002way\u2002of\u2002a\u2002refund,\u2002as\u2002the\u2002Group\u2002has\u2002the\u2002unconditional\u2002right\u2002to\u2002any\u2002surplus\u2002once\u2002all\u2002the\u2002obligations\u2002of\u2002the\u2002Scheme\u2002have\u2002been\u2002settled.\u2002Accordingly,\u2002the\u2002Group\u2002does\u2002not\u2002expect\u2002to\u2002have\u2002to\u2002make\u2002provision\u2002for\u2002these\u2002additional\u2002contributions\u2002arising\u2002from\u2002this\u2002agreement\u2002in\u2002future\u2002financial\u2002statements. In\u2002June\u20022023,\u2002the\u2002High\u2002Court\u2002judged\u2002in\u2002the\u2002Virgin\u2002Media\u2002vs\u2002NTL\u2002Pension\u2002Trustee\u2002case\u2002that\u2002certain\u2002amendments\u2002made\u2002to\u2002the\u2002NTL\u2002Pension\u2002Plan\u2002were\u2002invalid\u2002because\u2002the\u2002scheme\u2019s\u2002actuary\u2002had\u2002not\u2002provided\u2002the\u2002necessary\u2002confirmations\u2002(\u2018Section\u200237\u2002Certificates\u2019).\u2002The\u2002High\u2002Court\u2019s\u2002decision\u2002has\u2002wider\u2002ranging\u2002implications,\u2002affecting\u2002other\u2002schemes\u2002(such\u2002as\u2002the\u2002Costain\u2002Pension\u2002Scheme)\u2002that\u2002were\u2002contracted-out\u2002on\u2002a\u2002salary-related\u2002basis,\u2002and\u2002made\u2002amendments\u2002between\u2002April\u20021997\u2002and\u2002April\u20022016.\u2002The\u2002ruling\u2002was\u2002appealed\u2002and\u2002the\u2002case\u2002was\u2002heard\u2002by\u2002the\u2002Court\u2002of\u2002Appeal\u2002in\u2002June\u20022024.\u2002In\u2002July\u20022024,\u2002the\u2002case\u2002was\u2002upheld\u2002and\u2002the\u2002original\u2002judgement\u2002stands.\u2002There\u2002is\u2002still\u2002the\u2002potential\u2002for\u2002overriding\u2002government\u2002legislation\u2002to\u2002be\u2002introduced.\u2002As\u2002a\u2002result\u2002the\u2002Company\u2002and\u2002the\u2002Trustee\u2002of\u2002the\u2002Costain\u2002Pension\u2002Scheme\u2002cannot\u2002at\u2002this\u2002stage\u2002be\u2002certain\u2002of\u2002the\u2002potential\u2002implications\u2002(if\u2002any).\u2002The\u2002Company\u2002and\u2002the\u2002Trustee\u2002of\u2002the\u2002Costain\u2002Pension\u2002Scheme\u2002will\u2002continue\u2002to\u2002seek\u2002legal\u2002advice\u2002on\u2002the\u2002matter\u2002and\u2002act\u2002accordingly\u2002as\u2002the\u2002situation\u2002evolves. ", "dimensions": { "concept": "ifrs-full:DisclosureOfDefinedBenefitPlansExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-395": { "value": "Defined contribution schemes Two\u2002defined\u2002contribution\u2002pensions\u2002schemes\u2002are\u2002operated.\u2002The\u2002total\u2002expense\u2002relating\u2002to\u2002these\u2002plans\u2002was\u2002\u00a312.9m\u2002(2023:\u2002\u00a312.6m). ", "dimensions": { "concept": "ifrs-full:DisclosureOfDefinedContributionPlansExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-396": { "value": "Share-based payments The\u2002Company\u2002operates\u2002a\u2002number\u2002of\u2002share-based\u2002payment\u2002plans\u2002as\u2002described\u2002below. Long-Term\u2002Incentive\u2002Plan\u2002(LTIP) Shareholders\u2002approved\u2002Long-Term\u2002Incentive\u2002Plans\u2002at\u2002the\u20022014\u2002and\u20022023\u2002AGMs\u2002that\u2002allow\u2002for\u2002conditional\u2002awards\u2002with\u2002a\u2002maximum\u2002face\u2002value\u2002of\u2002up\u2002to\u2002150%\u2002of\u2002base\u2002salary\u2002to\u2002be\u2002awarded.\u2002The\u2002maximum\u2002Costain\u2002has\u2002applied\u2002is\u2002100%\u2002of\u2002base\u2002salary.\u2002Performance\u2002conditions,\u2002such\u2002as\u2002those\u2002based\u2002on\u2002earnings\u2002per\u2002share\u2002and\u2002Total\u2002Shareholder\u2002Return\u2002(TSR),\u2002are\u2002determined\u2002by\u2002the\u2002Remuneration\u2002Committee\u2002at\u2002the\u2002time\u2002of\u2002grant. Annual\u2002Incentive\u2002Plan\u2002(AIP) Executive\u2002directors\u2002and\u2002other\u2002senior\u2002management\u2002are\u2002eligible\u2002to\u2002participate\u2002in\u2002the\u2002Company\u2019s\u2002Annual\u2002Incentive\u2002Plan,\u2002under\u2002which\u2002one\u2002third\u2002of\u2002the\u2002award\u2002is\u2002deferred\u2002into\u2002shares.\u2002The\u2002total\u2002AIP\u2002award\u2002of\u2002up\u2002to\u2002150%\u2002of\u2002base\u2002salary\u2002has\u2002performance\u2002conditions\u2002based\u2002on\u2002Group\u2002\u2018adjusted\u2002operating\u2002profit\u2019\u2002and\u2002other\u2002measures.\u2002Financial\u2002metrics\u2002will\u2002comprise\u2002at\u2002least\u200250%\u2002of\u2002AIP\u2002opportunity.\u2002The\u2002share\u2002award\u2002element\u2002vests\u2002on\u2002the\u2002second\u2002anniversary\u2002of\u2002the\u2002date\u2002of\u2002grant\u2002and\u2002will\u2002be\u2002satisfied\u2002by\u2002shares\u2002purchased\u2002by\u2002a\u2002trust\u2002on\u2002behalf\u2002of\u2002the\u2002Group.\u2002It\u2002will\u2002not\u2002lead\u2002to\u2002any\u2002dilution\u2002of\u2002shareholder\u2002interest.\u2002Participants\u2002must\u2002be\u2002in\u2002employment\u2002with\u2002the\u2002Company\u2002and\u2002not\u2002under\u2002notice\u2002of\u2002termination\u2002(either\u2002given\u2002or\u2002received)\u2002on\u2002the\u2002date\u2002of\u2002grant. Save\u2002As\u2002You\u2002Earn\u2002Scheme\u2002(SAYE) The\u2002Company\u2002operates\u2002a\u2002SAYE\u2002scheme\u2002that\u2002is\u2002open\u2002to\u2002all\u2002eligible\u2002employees\u2002who\u2002pay\u2002a\u2002fixed\u2002amount\u2002from\u2002salary\u2002into\u2002a\u2002savings\u2002account\u2002each\u2002month\u2002and\u2002elect\u2002to\u2002save\u2002over\u2002three\u2002years.\u2002At\u2002the\u2002end\u2002of\u2002the\u2002savings\u2002period,\u2002employees\u2002have\u2002six\u2002months\u2002in\u2002which\u2002to\u2002exercise\u2002their\u2002options\u2002using\u2002the\u2002funds\u2002saved\u2002together\u2002with\u2002any\u2002interest\u2002or\u2002bonus\u2002(after\u2002which\u2002the\u2002options\u2002expire).\u2002If\u2002employees\u2002decide\u2002not\u2002to\u2002exercise\u2002their\u2002options,\u2002they\u2002may\u2002withdraw\u2002the\u2002funds\u2002saved.\u2002Exercise\u2002of\u2002options\u2002is\u2002subject\u2002to\u2002continued\u2002employment\u2002within\u2002the\u2002Group\u2002(except\u2002where\u2002permitted\u2002by\u2002the\u2002rules\u2002of\u2002the\u2002scheme). Share-based\u2002payment\u2002expense The\u2002amount\u2002recognised\u2002in\u2002the\u2002income\u2002statement,\u2002before\u2002tax,\u2002for\u2002share-based\u2002payment\u2002transactions\u2002with\u2002employees\u2002was\u2002\u00a32.3m\u2002(2023:\u2002\u00a32.2m);\u2002the\u2002entire\u2002charge\u2002relates\u2002to\u2002subsidiaries. Options\u2002outstanding\u2002at\u2002the\u2002end\u2002of\u2002the\u2002year The\u2002movements\u2002in\u2002the\u2002outstanding\u2002LTIPs\u2002(nil-cost\u2002option)\u2002and\u2002AIP\u2002(nil-cost\u2002option),\u2002which\u2002provide\u2002for\u2002the\u2002grant\u2002of\u2002shares\u2002to\u2002executive\u2002directors\u2002and\u2002senior\u2002management,\u2002and\u2002the\u2002outstanding\u2002SAYE\u2002schemes,\u2002are\u2002shown\u2002below:
LTIP
AIP
SAYE
Weighted average
Number Number Number exercise price
(m) (m) (m) (p)
Outstanding\u2002at\u20021\u2002January\u20022023
12.5
2.3
0.8
118.4
Forfeited\u2002during\u2002the\u2002year
(2.0)
(0.4)
(0.8)
113.8
Exercised\u2002during\u2002the\u2002year
(0.6)
\u2013
\u2013
\u2013
Granted\u2002during\u2002the\u2002year
3.7
1.5
4.9
50.0
Outstanding\u2002at\u200231\u2002December\u20022023
13.6
3.4
4.9
50.0
Outstanding\u2002at\u20021\u2002January\u20022024
13.6
3.4
4.9
50.0
Forfeited\u2002during\u2002the\u2002year
(1.4)
(0.1)
(0.4)
51.1
Exercised\u2002during\u2002the\u2002year
(0.7)
(1.9)
\u2013
50.0
Granted\u2002during\u2002the\u2002year
3.0
1.5
4.0
81.2
Outstanding at 31 December 2024
14.5
2.9
8.5
64.8
Exercisable at the end of the period
2.0
\u2013
\u2013
\u2013
Share\u2002options\u2002outstanding\u2002at\u2002the\u2002end\u2002of\u2002the\u2002year\u2002had\u2002a\u2002weighted\u2002average\u2002remaining\u2002contractual\u2002life\u2002of\u20025.8\u2002years\u2002(2023:\u20024.9\u2002years). The\u2002fair\u2002value\u2002of\u2002options\u2002granted\u2002is\u2002calculated\u2002using\u2002the\u2002Black-Scholes\u2002option\u2002pricing\u2002model.\u2002The\u2002aggregate\u2002fair\u2002value\u2002of\u2002options\u2002granted\u2002during\u2002the\u2002year\u2002was\u2002\u00a34.9m\u2002(2023:\u2002\u00a34.8m).\u2002The\u2002assumptions\u2002used\u2002in\u2002valuing\u2002the\u2002grants\u2002were:
2024
2023
Expected\u2002volatility
43.9%
46.0%
Expected\u2002life\u2002(years)
3.5
3.5
Risk-free\u2002interest\u2002rate
3.9%
3.2%
Expected\u2002dividend\u2002yield
1.2%
2.3%
The\u2002expected\u2002volatility\u2002is\u2002based\u2002on\u2002the\u2002historical\u2002share\u2002price\u2002volatility\u2002over\u2002a\u2002term\u2002matching\u2002the\u2002expected\u2002life.\u2002The\u2002expected\u2002life\u2002is\u2002based\u2002on\u2002management\u2019s\u2002best\u2002estimate\u2002having\u2002regard\u2002to\u2002the\u2002effect\u2002of\u2002non-transferability,\u2002exercise\u2002restrictions\u2002and\u2002behavioural\u2002considerations.", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-422": { "value": "
LTIP
AIP
SAYE
Weighted average
Number Number Number exercise price
(m) (m) (m) (p)
Outstanding\u2002at\u20021\u2002January\u20022023
12.5
2.3
0.8
118.4
Forfeited\u2002during\u2002the\u2002year
(2.0)
(0.4)
(0.8)
113.8
Exercised\u2002during\u2002the\u2002year
(0.6)
\u2013
\u2013
\u2013
Granted\u2002during\u2002the\u2002year
3.7
1.5
4.9
50.0
Outstanding\u2002at\u200231\u2002December\u20022023
13.6
3.4
4.9
50.0
Outstanding\u2002at\u20021\u2002January\u20022024
13.6
3.4
4.9
50.0
Forfeited\u2002during\u2002the\u2002year
(1.4)
(0.1)
(0.4)
51.1
Exercised\u2002during\u2002the\u2002year
(0.7)
(1.9)
\u2013
50.0
Granted\u2002during\u2002the\u2002year
3.0
1.5
4.0
81.2
Outstanding at 31 December 2024
14.5
2.9
8.5
64.8
Exercisable at the end of the period
2.0
\u2013
\u2013
\u2013
", "dimensions": { "concept": "ifrs-full:DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-423": { "value": "Share\u2002options\u2002outstanding\u2002at\u2002the\u2002end\u2002of\u2002the\u2002year\u2002had\u2002a\u2002weighted\u2002average\u2002remaining\u2002contractual\u2002life\u2002of\u20025.8\u2002years\u2002(2023:\u20024.9\u2002years). ", "dimensions": { "concept": "ifrs-full:DisclosureOfNumberAndWeightedAverageRemainingContractualLifeOfOutstandingShareOptionsExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-361": { "value": "
22 Share capital
2024
2023
Number Nominal value Number Nominal value
(millions) \u00a3m (millions) \u00a3m
Issued share capital
Shares\u2002in\u2002issue\u2002at\u2002beginning\u2002of\u2002year\u2002\u2013\u2002
ordinary\u2002shares\u2002of\u200250p\u2002each,\u2002fully\u2002paid
276.7
138.3
275.1
137.5
Issued\u2002in\u2002year\u2002(see\u2002below)
1.8
0.9
1.6
0.8
Nominal\u2002value\u2002reduction
\u2013
(136.4)
\u2013
\u2013
Share\u2002buyback
(9.7)
(0.1)
\u2013
\u2013
Shares\u2002in\u2002issue\u2002at\u2002end\u2002of\u2002year\u2002\u2013\u2002
ordinary\u2002shares\u2002of\u2002one\u2002pence\u2002each\u2002(2023:\u200250p\u2002each),\u2002fully\u2002paid
268.8
2.7
276.7
138.3
The\u2002Company\u2019s\u2002issued\u2002share\u2002capital\u2002comprised\u2002268,766,087\u2002ordinary\u2002shares\u2002of\u2002one\u2002pence\u2002each\u2002as\u2002at\u200231\u2002December\u20022024\u2002
(2023:\u2002276,718,885\u2002ordinary\u2002shares\u2002of\u200250\u2002pence\u2002each).\u2002
All\u2002shares\u2002rank\u2002pari\u2002passu\u2002regarding\u2002entitlement\u2002to\u2002capital\u2002and\u2002dividends.
The\u20022021\u2002LTIP\u2002vested\u2002in\u2002the\u2002year\u2002and\u20021,630,000\u2002shares\u2002were\u2002issued\u2002in\u2002April\u20022024\u2002to\u2002satisfy\u2002this\u2002vesting.
A\u2002total\u2002of\u2002136,152\u2002shares\u2002were\u2002issued\u2002under\u2002the\u2002Scrip\u2002Dividend\u2002Scheme\u2002during\u20022024.
On\u200217\u2002May\u20022024,\u2002the\u2002Company\u2002reduced\u2002the\u2002nominal\u2002value\u2002of\u2002its\u2002278,348,885\u2002ordinary\u2002shares\u2002in\u2002issue\u2002at\u2002that\u2002date\u2002from\u2002\u00a30.50\u2002to\u2002\u00a30.01.\u2002
The\u2002reduction\u2002was\u2002completed\u2002by\u2002subdividing\u2002each\u2002\u00a30.50\u2002ordinary\u2002share\u2002in\u2002issue\u2002into\u2002one\u2002ordinary\u2002share\u2002of\u2002\u00a30.01\u2002and\u2002one\u2002deferred\u2002
share\u2002of\u2002\u00a30.49.\u2002All\u2002deferred\u2002shares\u2002were\u2002then\u2002bought\u2002back\u2002for\u2002total\u2002aggregate\u2002consideration\u2002of\u2002\u00a30.01\u2002and\u2002cancelled\u2002on\u200220\u2002May\u20022024.\u2002
The\u2002Company\u2019s\u2002issued\u2002ordinary\u2002share\u2002capital\u2002remained\u2002unchanged\u2002immediately\u2002after\u2002the\u2002transaction\u2002and\u2002each\u2002shareholder\u2019s\u2002
proportionate\u2002interest\u2002in\u2002the\u2002share\u2002capital\u2002of\u2002the\u2002Company\u2002remained\u2002unchanged.\u2002Aside\u2002from\u2002the\u2002change\u2002in\u2002nominal\u2002value,\u2002the\u2002rights\u2002
attaching\u2002to\u2002the\u2002ordinary\u2002shares\u2002(including\u2002voting\u2002and\u2002dividend\u2002rights\u2002and\u2002rights\u2002on\u2002a\u2002return\u2002of\u2002capital)\u2002remained\u2002unchanged.
In\u2002August\u20022024,\u2002Costain\u2002announced\u2002an\u2002on-market\u2002share\u2002buyback\u2002programme.\u2002This\u2002programme\u2002was\u2002completed\u2002in\u2002November\u20022024\u2002and\u2002
resulted\u2002in\u2002the\u2002purchase\u2002of\u20029,718,950\u2002Ordinary\u2002Shares\u2002in\u2002aggregate\u2002for\u2002cancellation.
The\u2002share\u2002options\u2002outstanding\u2002at\u2002the\u2002year-end\u2002are\u2002detailed\u2002in\u2002note\u200221.\u2002Details\u2002of\u2002the\u2002performance\u2002conditions\u2002and\u2002the\u2002options\u2002granted\u2002
to\u2002executive\u2002directors\u2002are\u2002given\u2002in\u2002the\u2002Directors\u2019\u2002Remuneration\u2002Report.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-362": { "value": "
23 Contingent liabilities
Group
Fire\u2002safety\u2002compliance\u2002claims
The\u2002Group\u2002ceased\u2002construction\u2002of\u2002residential\u2002buildings\u2002in\u20022013,\u2002which\u2002was\u2002never\u2002a\u2002major\u2002part\u2002of\u2002business\u2002operations.\u2002The\u2002Group\u2002has\u2002
undertaken\u2002a\u2002review\u2002of\u2002its\u2002small\u2002number\u2002of\u2002legacy\u2002residential\u2002building\u2002constructions\u2002to\u2002identify\u2002where\u2002fire\u2002safety\u2002obligations\u2002could\u2002exist.\u2002
The\u2002buildings,\u2002including\u2002the\u2002cladding\u2002works,\u2002were\u2002signed\u2002off\u2002by\u2002approved\u2002inspectors\u2002as\u2002compliant\u2002with\u2002the\u2002relevant\u2002building\u2002regulations\u2002at\u2002
the\u2002time\u2002of\u2002completion.
In\u2002preparing\u2002the\u2002financial\u2002statements,\u2002where\u2002a\u2002probable\u2002rectification\u2002obligation\u2002related\u2002to\u2002fire\u2002safety\u2002compliance\u2002has\u2002been\u2002identified,\u2002costs\u2002
to\u2002rectify\u2002have\u2002been\u2002estimated,\u2002and\u2002a\u2002provision\u2002has\u2002been\u2002made.\u2002No\u2002provision\u2002has\u2002been\u2002made\u2002where\u2002an\u2002obligation\u2002has\u2002not\u2002been\u2002established.
Virgin\u2002Media\u2002High\u2002Court\u2002Case
In\u2002June\u20022023,\u2002the\u2002High\u2002Court\u2002judged\u2002in\u2002the\u2002Virgin\u2002Media\u2002vs\u2002NTL\u2002Pension\u2002Trustee\u2002case\u2002that\u2002certain\u2002amendments\u2002made\u2002to\u2002the\u2002NTL\u2002Pension\u2002
Plan\u2002were\u2002invalid\u2002because\u2002the\u2002scheme\u2019s\u2002actuary\u2002had\u2002not\u2002provided\u2002the\u2002necessary\u2002confirmations\u2002(\u2018Section\u200237\u2002Certificates\u2019).\u2002The\u2002High\u2002
Court\u2019s\u2002decision\u2002has\u2002wider\u2002ranging\u2002implications,\u2002affecting\u2002other\u2002schemes\u2002(such\u2002as\u2002the\u2002Costain\u2002Pension\u2002Scheme)\u2002that\u2002were\u2002contracted-
out\u2002on\u2002a\u2002salary-related\u2002basis,\u2002and\u2002made\u2002amendments\u2002between\u2002April\u20021997\u2002and\u2002April\u20022016.
The\u2002ruling\u2002was\u2002appealed\u2002and\u2002the\u2002case\u2002was\u2002heard\u2002by\u2002the\u2002Court\u2002of\u2002Appeal\u2002in\u2002June\u20022024.\u2002In\u2002July\u20022024,\u2002the\u2002case\u2002was\u2002upheld\u2002and\u2002the\u2002original\u2002
judgement\u2002stands.\u2002There\u2002is\u2002still\u2002the\u2002potential\u2002for\u2002overriding\u2002government\u2002legislation\u2002to\u2002be\u2002introduced.\u2002As\u2002a\u2002result\u2002the\u2002Company\u2002and\u2002the\u2002
Trustee\u2002of\u2002the\u2002Costain\u2002Pension\u2002Scheme\u2002cannot\u2002at\u2002this\u2002stage\u2002be\u2002certain\u2002of\u2002the\u2002potential\u2002implications\u2002(if\u2002any).\u2002The\u2002Company\u2002and\u2002the\u2002
Trustee\u2002of\u2002the\u2002Costain\u2002Pension\u2002Scheme\u2002will\u2002continue\u2002to\u2002seek\u2002legal\u2002advice\u2002on\u2002the\u2002matter\u2002and\u2002act\u2002accordingly\u2002as\u2002the\u2002situation\u2002evolves.
Guarantee\u2002contracts
Group\u2002bank\u2002borrowing\u2002facilities\u2002and\u2002bank\u2002and\u2002surety\u2002bonding\u2002facilities\u2002are\u2002supported\u2002by\u2002cross-guarantees\u2002given\u2002by\u2002the\u2002Company\u2002and\u2002
participating\u2002companies\u2002in\u2002the\u2002Group.
There\u2002are\u2002contingent\u2002liabilities\u2002in\u2002respect\u2002of:
\u2022 performance\u2002bonds\u2002and\u2002other\u2002undertakings\u2002entered\u2002into\u2002in\u2002the\u2002ordinary\u2002course\u2002of\u2002business;\u2002and
\u2022 legal\u2002claims\u2002arising\u2002in\u2002the\u2002ordinary\u2002course\u2002of\u2002business.
It\u2002is\u2002not\u2002anticipated\u2002that\u2002any\u2002material\u2002liabilities\u2002will\u2002arise\u2002from\u2002the\u2002contingent\u2002liabilities\u2002other\u2002than\u2002those\u2002provided.
Company
The\u2002Company\u2002has\u2002guaranteed\u2002the\u2002obligations\u2002of\u2002the\u2002subsidiary\u2002companies\u2002that\u2002are\u2002participating\u2002employers\u2002of\u2002The\u2002Costain\u2002Pension\u2002
Scheme,\u2002the\u2002defined\u2002benefit\u2002pension\u2002scheme\u2002in\u2002the\u2002UK.\u2002At\u200231\u2002December\u20022024,\u2002the\u2002asset\u2002was\u2002\u00a354.9m\u2002(2023:\u2002\u00a353.5m)\u2002on\u2002an\u2002IAS\u200219\u2002basis\u2002
and\u2002is\u2002included\u2002in\u2002these\u2002financial\u2002statements\u2002as\u2002disclosed\u2002in\u2002note\u200221.
", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-442": { "value": "24 Subsidiary undertakings, joint ventures, associates and joint operations
Registered
Percentage of office/principal
Activity equity held place of business
Principal\u2002subsidiary\u2002undertakings
Costain\u2002Limited
Engineering,\u2002Construction\u2002and\u2002Maintenance
100
(1)
Costain\u2002Engineering\u2002&\u2002Construction\u2002Limited
Holding\u2002and\u2002Service\u2002Company
100
(1)
Costain\u2002Integrated\u2002Services\u2002Limited
Professional\u2002Services
100
(1)
Costain\u2002Integrated\u2002Technology\u2002Solutions\u2002Limited
Technology\u2002Integration
100
(1)
Costain\u2002Oil,\u2002Gas\u2002&\u2002Process\u2002Limited
Process\u2002Engineering
100
(1)
Richard\u2002Costain\u2002Limited
Service\u2002Company
100
(1)
Issued share Registered
capital Percentage of office/principal
Activity \u00a3m equity held
place of business
Reporting date
Principal\u2002joint\u2002ventures
ABC\u2002Electrification\u2002Ltd
Rail\u2002Electrification
19.6
33.3
(6)
31\u2002March
4Delivery\u2002Limited
Civil\u2002Engineering
\u2013
40
(3)
31\u2002March
The\u2002equity\u2002capital\u2002of\u2002the\u2002above\u2002are\u2002held\u2002by\u2002subsidiary\u2002undertakings\u2002with\u2002the\u2002exception\u2002of\u2002Richard\u2002Costain\u2002Limited\u2002and\u2002Costain\u2002Engineering\u2002&\u2002Construction\u2002Limited. All\u2002undertakings\u2002operate\u2002mainly\u2002in\u2002the\u2002country\u2002of\u2002incorporation.\u2002See\u2002key\u2002to\u2002registered\u2002office/principal\u2002place\u2002of\u2002business\u2002at\u2002the\u2002bottom\u2002of\u2002this\u2002note. All\u2002holdings\u2002are\u2002of\u2002ordinary\u2002shares.
Percentage Country of
Activity interest business
Major\u2002joint\u2002operations
A-one+\u2002Joint\u2002Venture\u2002\u2013\u2002ASC\u2002area\u200212\u2002\u2013\u2002Highways\u2002England
Engineering\u2002and\u2002Maintenance
33.3
UK
CH2M-Costain\u2002Joint\u2002Venture\u2002\u2013\u2002Area\u200214\u2002M&R\u2002contract
Engineering\u2002and\u2002Maintenance
50
UK
Costain-Atkins-Black\u2002&\u2002Veatch\u2002Joint\u2002Venture\u2002\u2013\u2002Thames\u2002Water\u2002AMP6
Engineering
70
UK
Costain-Galliford\u2002Try\u2002Joint\u2002Venture\u2002\u2013\u2002M1\u2002smart\u2002motorways
Civil\u2002Engineering
50
UK
Costain-MWH\u2002Joint\u2002Venture\u2002\u2013\u2002Southern\u2002Water
Civil\u2002Engineering
50
UK
CVB\u2002Joint\u2002Venture\u2002\u2013\u2002Thames\u2002Tideway\u2002Tunnel\u2002East
Civil\u2002Engineering
40
UK
Galliford-Costain-Atkins\u2002Joint\u2002Venture\u2002\u2013\u2002United\u2002Utilities
Engineering
42.5
UK
Skanska-Costain-Strabag\u2002S1\u2002Joint\u2002Venture\u2002\u2013\u2002HS2\u2002Main\u2002Works
Rail\u2002Engineering
34
UK
Skanska-Costain-Strabag\u2002S2\u2002Joint\u2002Venture\u2002\u2013\u2002HS2\u2002Main\u2002Works
Rail\u2002Engineering
34
UK
The\u2002ASP\u2002Batch\u2002Joint\u2002Venture\u2002\u2013\u2002Severn\u2002Trent\u2002\u2013\u2002Large\u2002capital\u2002schemes\u2002outside\u2002AMP6
Engineering
33.3
UK
In\u2002accordance\u2002with\u2002Section\u2002409\u2002of\u2002the\u2002Companies\u2002Act\u20022006,\u2002a\u2002full\u2002list\u2002of\u2002subsidiaries,\u2002associates,\u2002joint\u2002ventures\u2002and\u2002joint\u2002arrangements\u2002is\u2002required:
Registered
Percentage of office/principal
Status equity held place of business
Other\u2002subsidiaries\u2002owned\u2002directly\u2002by\u2002Costain\u2002Group\u2002PLC
Costain\u2002Civil\u2002Engineering\u2002Limited
Holding\u2002Company
100
(1)
Costain\u2002Investments\u2002Limited
Dormant
100
(7)
Costain\u2002USA\u2002Inc.
Holding\u2002Company
100
(5)
County\u2002&\u2002District\u2002Properties\u2002Limited*
Trading
100
(1)
Renown\u2002Investments\u2002(Holdings)\u2002Limited*
Trading
100
(1)
Lysander\u2002Services\u2002Limited*
Trading
100
(1)
Other\u2002subsidiaries\u2002owned\u2002indirectly\u2002by\u2002Costain\u2002Group\u2002PLC
Brunswick\u2002Infrastructure\u2002Services\u2002Limited
Dormant
100
(1)
Calvert\u2002&\u2002Russell\u2002Limited*
Trading
100
(1)
CLM\u2002Engineering\u2002(Overseas)\u2002Limited
Dormant
100
(1)
COGAP\u2002(Middle\u2002East)\u2002Limited*
Holding\u2002Company
100
(1)
Construction\u2002Study\u2002Centre\u2002Limited*
Trading
100
(1)
Costain\u2002Alcaidesa\u2002Limited*
Dormant
100
(1)
Costain\u2002America\u2002Inc.
Holding\u2002Company
100
(5)
Costain\u2002Building\u2002&\u2002Civil\u2002Engineering\u2002Limited*
Holding\u2002Company
100
(1)
Costain\u2002Construction\u2002Limited
Dormant
100
(1)
Costain\u2002de\u2002Venezuela\u2002CA
Dormant
100
(14)
Costain\u2002Energy\u2002Solutions\u2002Limited
Dormant
100
(1)
Costain\u2002Engineering\u2002&\u2002Construction\u2002(Overseas)\u2002Limited*
Holding\u2002Company
100
(1)
Costain\u2002Engineering\u2002Services\u2002Inc.
Dormant
100
(5)
Costain\u2002International\u2002Limited*
Dormant
100
(1)
Costain\u2002Management\u2002Design\u2002Limited
Dormant
100
(1)
Costain\u2002Minerals\u2002Inc.
Dormant
100
(5)
Costain\u2002Mining\u2002Services\u2002Inc.
Dormant
100
(5)
Costain\u2002Oil,\u2002Gas\u2002&\u2002Process\u2002(Nigeria)\u2002Limited
Dormant
95
(15)
Costain\u2002Oil,\u2002Gas\u2002&\u2002Process\u2002(Overseas)\u2002Limited
Dormant
100
(1)
Costain\u2002Process\u2002Construction\u2002Limited
Dormant
100
(1)
Costain\u2002Upstream\u2002Limited*
Trading
100
(2)
JBCC\u2002Rhead\u2002PTE\u2002Limited
Dissolved\u2002Nov\u20022024
100
(11)
Promanex\u2002(Civils\u2002&\u2002Industrial\u2002Services)\u2002Limited
Dormant
100
(1)
Promanex\u2002(Construction\u2002&\u2002Maintenance\u2002Services)\u2002Limited
Dormant
100
(1)
Promanex\u2002(Total\u2002FM\u2002&\u2002Environmental\u2002Services)\u2002Limited*
Dormant
100
(1)
Sunland\u2002Mining\u2002Corporation\u2002(II)
Dormant
100
(5)
Westminster\u2002Plant\u2002Co.\u2002Limited
Dormant
100
(1)
*\u2002 Denotes\u2002that\u2002the\u2002entity\u2002has\u2002taken\u2002the\u2002audit\u2002exemption\u2002under\u2002Section\u2002479A\u2002of\u2002the\u2002Companies\u2002Act\u20022006\u2002for\u2002the\u2002financial\u2002year\u2002ended\u200231\u2002December\u20022024.
Registered
Percentage of office/principal place
Status equity held of business
Other\u2002joint\u2002ventures\u2002or\u2002associates\u2002owned\u2002indirectly\u2002by\u2002Costain\u2002Group\u2002PLC
ACM\u2002Health\u2002Solutions\u2002Limited
Dormant
33.3
(4)
Brighton\u2002&\u2002Hove\u20024Delivery\u2002Limited
Trading
49
(3)
Budimex\u2002&\u2002Costain\u2002SP\u2002ZO.O
Dormant
50
(13)
Costain\u2002Abu\u2002Dhabi\u2002Co\u2002WLL
Dormant
49
(8)
China\u2002Harbour-Costain\u2002Mexico\u2002S\u2002de\u2002RL\u2002de\u2002CV
Dormant
50
(12)
Jalal\u2002Costain\u2002WLL
Dormant
49
(9)
Nesma-Costain\u2002Process\u2002Co.\u2002Limited
Dormant
50
(10)
Percentage Country
Activity interest of business
Other\u2002joint\u2002operations,\u2002including\u2002completed
ACTUS\u2002Joint\u2002Venture\u2002\u2013\u2002Trawsfynydd\u2002nuclear\u2002power\u2002station\u2002
active\u2002waste\u2002retrieval
Civil\u2002Engineering
25
UK
Alstom-Babcock-Costain\u2002Joint\u2002Venture\u2002\u2013\u2002Edinburgh\u2002to
Glasgow\u2002Rail\u2002Improvement\u2002Programme
Rail\u2002Engineering
33.3
UK
Alstom-Costain\u2002C644\u2002Joint\u2002Venture\u2002\u2013\u2002Traction\u2002power\u2002\u2013\u2002Crossrail
Rail\u2002Engineering
32.5
UK
Alstom-Costain\u2002C650\u2002Joint\u2002Venture\u2002\u2013\u2002HV\u2002power\u2002supply\u2002\u2013\u2002Crossrail
Rail\u2002Engineering
32.5
UK
Amec-Costain-Jacobs\u2002Joint\u2002Venture\u2002\u2013\u2002Magnox\u2002ILW\u2002Management\u2002
Programme
Civil\u2002Engineering
33.3
UK
A-one+\u2002Integrated\u2002Highway\u2002Services\u2002\u2013\u2002MAC\u20027
Engineering\u2002and\u2002Maintenance
33.3
UK
A-one+\u2002Integrated\u2002Highway\u2002Services\u2002\u2013\u2002MAC\u200210
Engineering\u2002and\u2002Maintenance
25
UK
A-one+\u2002Integrated\u2002Highway\u2002Services\u2002\u2013\u2002MAC\u200212
Engineering\u2002and\u2002Maintenance
33.3
UK
A-one+\u2002Integrated\u2002Highway\u2002Services\u2002\u2013\u2002MAC\u200214
Engineering\u2002and\u2002Maintenance
33.3
UK
A-one+\u2002Joint\u2002Venture\u2002\u2013\u2002ASC\u2002area\u20024\u2002\u2013\u2002Highways\u2002England
Engineering\u2002and\u2002Maintenance
33.3
UK
ATC\u2002Joint\u2002Venture\u2002\u2013\u2002C610\u2002\u2013\u2002Crossrail
Rail\u2002Engineering
32.5
UK
ATC\u2002Joint\u2002Venture\u2002\u2013\u2002C695\u2002\u2013\u2002Crossrail
Rail\u2002Engineering
32.5
UK
Balfour\u2002Beatty-BmJV-Carillion-Costain\u2002Joint\u2002Venture\u2002\u2013\u2002
National\u2002Major\u2002Projects\u2002\u2013\u2002Highways\u2002England
Civil\u2002Engineering
29
UK
CosMott\u2002Joint\u2002Venture\u2002\u2013\u2002Devonport\u2002Major\u2002Infrastructure\u2002
Programme\u2002\u2013\u2002Construction\u2002Delivery\u2002Partner
Consultancy
50
UK
Costain\u2002Arup\u2002Joint\u2002Venture\u2002\u2013\u2002Yorkshire\u2002Water
Consultancy
50
UK
Costain-CH2M\u2002UK\u2002\u2013\u2002ESCC\u2002JV\u2002\u2013\u2002East\u2002Sussex\u2002highway\u2002maintenance
Engineering\u2002and\u2002Maintenance
50
UK
Costain-Dalekovod\u2002Joint\u2002Venture\u2002\u2013\u2002National\u2002Grid\u2002HV\u2002Overhead\u2002
Line\u2002System
Engineering
60
UK
Costain-Hochtief\u2002Joint\u2002Venture\u2002\u2013\u2002Reading\u2002station
Civil\u2002Engineering
50
UK
Costain-Lafarge\u2002Joint\u2002Venture\u2002\u2013\u2002East\u2002and\u2002South\u2002East\u2002Framework
Civil\u2002Engineering
50
UK
Costain-Lafarge\u2002Joint\u2002Venture\u2002\u2013\u2002Midlands\u2002Framework
Civil\u2002Engineering
50
UK
Costain-Laing\u2002O\u2019Rourke\u2002Joint\u2002Venture\u2002\u2013\u2002Bond\u2002Street\u2002station
Civil\u2002Engineering
50
UK
Costain-Laing\u2002O\u2019Rourke\u2002Joint\u2002Venture\u2002\u2013\u2002Farringdon\u2002station
Civil\u2002Engineering
50
UK
Country
Activity
Percentage interest
of business
Other\u2002joint\u2002operations,\u2002including\u2002completed\u2002continued
Costain-Skanska\u2002C336\u2002Joint\u2002Venture\u2002\u2013\u2002Paddington\u2002New\u2002Yard\u2002\u2013\u2002Crossrail
Civil\u2002Engineering
50
UK
Costain-Skanska\u2002C360\u2002Joint\u2002Venture\u2002\u2013\u2002Eleanor\u2002Street\u2002\u2013\u2002Crossrail
Civil\u2002Engineering
50
UK
Costain-Skanska\u2002C405\u2002Joint\u2002Venture\u2002\u2013\u2002Paddington\u2002\u2013\u2002Crossrail
Civil\u2002Engineering
50
UK
Costain-Skanska\u2002C411\u2002Joint\u2002Venture\u2002\u2013\u2002Bond\u2002Street\u2002\u2013\u2002Crossrail
Civil\u2002Engineering
50
UK
Costain-Skanska\u2002C412\u2002Joint\u2002Venture\u2002\u2013\u2002Bond\u2002Street\u2002\u2013\u2002Crossrail
Civil\u2002Engineering
50
UK
Costain-Skanska\u2002\u2013\u2002HS2\u2002Enabling\u2002works
Civil\u2002Engineering
50
UK
Costain-Skanska\u2002Joint\u2002Venture\u2002\u2013\u2002A14\u2002Cambridge\u2002to\u2002Huntingdon\u2002
Improvement\u2002Scheme
Civil\u2002Engineering
50
UK
Costain-Skanska\u2002Joint\u2002Venture\u2002\u2013\u2002A14\u2002Ellington\u2002to\u2002Fen\u2002Ditton
Civil\u2002Engineering
50
UK
Costain-Skanska\u2002Joint\u2002Venture\u2002\u2013\u2002Balfour\u2002Beatty\u2002Joint\u2002Venture\u2002\u2013\u2002A14
Civil\u2002Engineering
33.3
UK
Costain-Skanska\u2002Joint\u2002Venture\u2002\u2013\u2002Crossrail\u2002Civils\u2002Framework\u2002Enabling\u2002Works
Civil\u2002Engineering
50
UK
Costain-Skanska\u2002Joint\u2002Venture\u2002\u2013\u2002NGT\u2002Tunnels,\u2002London
Civil\u2002Engineering
52.6
UK
Costain-Skanska\u2002Joint\u2002Venture\u2002\u2013\u2002Paddington\u2002Station\u2002Bakerloo\u2002Line\u2002Link\u2002Project
Civil\u2002Engineering
50
UK
Costain-Taylor\u2002Woodrow\u2002Joint\u2002Venture\u2002\u2013\u2002King\u2019s\u2002Cross\u2002re-development\u2002&\u2002
Phase\u2002II\u2002Northern\u2002works
Civil\u2002Engineering
50
UK
Costain-Vinci\u2002Construction\u2002Joint\u2002Venture\u2002\u2013\u2002Shieldhall
Civil\u2002Engineering
50
UK
Costain-Vinci\u2002Joint\u2002Venture\u2002\u2013\u2002M4\u2002corridor\u2002around\u2002Newport
Civil\u2002Engineering
50
UK
Costain-VWS\u2002Joint\u2002Venture\u2002\u2013\u2002Mersey\u2002Valley\u2002Processing\u2002Centre\u2002
(Shell\u2002Green)\u2002Extension\u2002Project\u2002Stage\u20022
Engineering
50
UK
Educo\u2002UK\u2002Joint\u2002Venture\u2002\u2013\u2002Bradford\u2002Schools
Building
50
UK
Lagan-Ferrovial-Costain\u2002\u2013\u2002A8
Civil\u2002Engineering
45
UK
The\u2002e5\u2002Joint\u2002Alliance\u2002Severn\u2002Trent\u2002Framework
Engineering
25
UK
TSIF-ILW\u2002Joint\u2002Venture\u2002\u2013\u2002Trawsfynydd\u2002nuclear\u2002power\u2002station\u2002decommissioning
Civil\u2002Engineering
33.3
UK
Key to registered office/principal place of business
(1) Seventh\u2002Floor,\u200270\u2002St\u2002Mary\u2002Axe,\u2002London,\u2002EC3A\u20028BE,\u2002England
(2) Neo\u2002House,\u2002Riverside,\u2002Aberdeen,\u2002AB11\u20027LH,\u2002Scotland
(3)
210
Pentonville\u2002Road,\u2002London,\u2002N1\u20029JY,\u2002England
(4) Booths\u2002Park,\u2002Chelford\u2002Road,\u2002Knutsford,\u2002WA16\u20028QZ,\u2002England\u2002
(5)
The\u2002Corporation\u2002Trust\u2002Company,\u2002Corporation\u2002Trust\u2002Center,\u20021209\u2002Orange\u2002Street,\u2002Wilmington,\u2002Delaware\u200219801\u2002(New\u2002Castle\u2002County),\u2002USA
(6) Alstom,\u2002Litchurch\u2002Lane,\u2002Derby,\u2002DE24\u20028AD,\u2002England
(7)
P.O.Box\u2002N-7768,\u2002Bank\u2002Lane,\u2002Nassau,\u2002Bahamas
(8) Dormant\u2002company\u2002\u2013\u2002Abu\u2002Dhabi,\u2002UAE,\u2002no\u2002record\u2002of\u2002address
(9) Flat\u200233,\u2002Building\u2002232,\u2002Road\u200218,\u2002Block\u2002321,\u2002Manama,\u2002Bahrain
(10)
P.O.Box\u20026967,\u200221452,
Jeddah,\u2002Saudi\u2002Arabia
(11)
Peninsula\u2002Plaza\u2002#27\u201301,\u2002111\u2002North\u2002Bridge\u2002Road,\u2002179098,\u2002Singapore
(12)
Calle\u2002Delfines\u2002No.\u2002268\u2002\u2013\u20022,\u2002Frac.\u2002Playa\u2002Ensenada,\u2002Ensenada,\u2002B.C.,\u2002CP.\u200222880,\u2002Mexico
(13) Marsza\u0142kowska\u200282,\u2002Warsaw,\u2002Mazowieckie,\u200200\u2013517,\u2002Poland
(14) Dormant\u2002company\u2002\u2013\u2002Venezuela,\u2002no\u2002record\u2002of\u2002address
(15) Dormant\u2002company\u2002\u2013\u2002Nigeria,\u2002no\u2002record\u2002of\u2002address
", "dimensions": { "concept": "ifrs-full:DisclosureOfCompositionOfGroupExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-438": { "value": "
Percentage Country of
Activity interest business
Major\u2002joint\u2002operations
A-one+\u2002Joint\u2002Venture\u2002\u2013\u2002ASC\u2002area\u200212\u2002\u2013\u2002Highways\u2002England
Engineering\u2002and\u2002Maintenance
33.3
UK
CH2M-Costain\u2002Joint\u2002Venture\u2002\u2013\u2002Area\u200214\u2002M&R\u2002contract
Engineering\u2002and\u2002Maintenance
50
UK
Costain-Atkins-Black\u2002&\u2002Veatch\u2002Joint\u2002Venture\u2002\u2013\u2002Thames\u2002Water\u2002AMP6
Engineering
70
UK
Costain-Galliford\u2002Try\u2002Joint\u2002Venture\u2002\u2013\u2002M1\u2002smart\u2002motorways
Civil\u2002Engineering
50
UK
Costain-MWH\u2002Joint\u2002Venture\u2002\u2013\u2002Southern\u2002Water
Civil\u2002Engineering
50
UK
CVB\u2002Joint\u2002Venture\u2002\u2013\u2002Thames\u2002Tideway\u2002Tunnel\u2002East
Civil\u2002Engineering
40
UK
Galliford-Costain-Atkins\u2002Joint\u2002Venture\u2002\u2013\u2002United\u2002Utilities
Engineering
42.5
UK
Skanska-Costain-Strabag\u2002S1\u2002Joint\u2002Venture\u2002\u2013\u2002HS2\u2002Main\u2002Works
Rail\u2002Engineering
34
UK
Skanska-Costain-Strabag\u2002S2\u2002Joint\u2002Venture\u2002\u2013\u2002HS2\u2002Main\u2002Works
Rail\u2002Engineering
34
UK
The\u2002ASP\u2002Batch\u2002Joint\u2002Venture\u2002\u2013\u2002Severn\u2002Trent\u2002\u2013\u2002Large\u2002capital\u2002schemes\u2002outside\u2002AMP6
Engineering
33.3
UK
Percentage Country
Activity interest of business
Other\u2002joint\u2002operations,\u2002including\u2002completed
ACTUS\u2002Joint\u2002Venture\u2002\u2013\u2002Trawsfynydd\u2002nuclear\u2002power\u2002station\u2002
active\u2002waste\u2002retrieval
Civil\u2002Engineering
25
UK
Alstom-Babcock-Costain\u2002Joint\u2002Venture\u2002\u2013\u2002Edinburgh\u2002to
Glasgow\u2002Rail\u2002Improvement\u2002Programme
Rail\u2002Engineering
33.3
UK
Alstom-Costain\u2002C644\u2002Joint\u2002Venture\u2002\u2013\u2002Traction\u2002power\u2002\u2013\u2002Crossrail
Rail\u2002Engineering
32.5
UK
Alstom-Costain\u2002C650\u2002Joint\u2002Venture\u2002\u2013\u2002HV\u2002power\u2002supply\u2002\u2013\u2002Crossrail
Rail\u2002Engineering
32.5
UK
Amec-Costain-Jacobs\u2002Joint\u2002Venture\u2002\u2013\u2002Magnox\u2002ILW\u2002Management\u2002
Programme
Civil\u2002Engineering
33.3
UK
A-one+\u2002Integrated\u2002Highway\u2002Services\u2002\u2013\u2002MAC\u20027
Engineering\u2002and\u2002Maintenance
33.3
UK
A-one+\u2002Integrated\u2002Highway\u2002Services\u2002\u2013\u2002MAC\u200210
Engineering\u2002and\u2002Maintenance
25
UK
A-one+\u2002Integrated\u2002Highway\u2002Services\u2002\u2013\u2002MAC\u200212
Engineering\u2002and\u2002Maintenance
33.3
UK
A-one+\u2002Integrated\u2002Highway\u2002Services\u2002\u2013\u2002MAC\u200214
Engineering\u2002and\u2002Maintenance
33.3
UK
A-one+\u2002Joint\u2002Venture\u2002\u2013\u2002ASC\u2002area\u20024\u2002\u2013\u2002Highways\u2002England
Engineering\u2002and\u2002Maintenance
33.3
UK
ATC\u2002Joint\u2002Venture\u2002\u2013\u2002C610\u2002\u2013\u2002Crossrail
Rail\u2002Engineering
32.5
UK
ATC\u2002Joint\u2002Venture\u2002\u2013\u2002C695\u2002\u2013\u2002Crossrail
Rail\u2002Engineering
32.5
UK
Balfour\u2002Beatty-BmJV-Carillion-Costain\u2002Joint\u2002Venture\u2002\u2013\u2002
National\u2002Major\u2002Projects\u2002\u2013\u2002Highways\u2002England
Civil\u2002Engineering
29
UK
CosMott\u2002Joint\u2002Venture\u2002\u2013\u2002Devonport\u2002Major\u2002Infrastructure\u2002
Programme\u2002\u2013\u2002Construction\u2002Delivery\u2002Partner
Consultancy
50
UK
Costain\u2002Arup\u2002Joint\u2002Venture\u2002\u2013\u2002Yorkshire\u2002Water
Consultancy
50
UK
Costain-CH2M\u2002UK\u2002\u2013\u2002ESCC\u2002JV\u2002\u2013\u2002East\u2002Sussex\u2002highway\u2002maintenance
Engineering\u2002and\u2002Maintenance
50
UK
Costain-Dalekovod\u2002Joint\u2002Venture\u2002\u2013\u2002National\u2002Grid\u2002HV\u2002Overhead\u2002
Line\u2002System
Engineering
60
UK
Costain-Hochtief\u2002Joint\u2002Venture\u2002\u2013\u2002Reading\u2002station
Civil\u2002Engineering
50
UK
Costain-Lafarge\u2002Joint\u2002Venture\u2002\u2013\u2002East\u2002and\u2002South\u2002East\u2002Framework
Civil\u2002Engineering
50
UK
Costain-Lafarge\u2002Joint\u2002Venture\u2002\u2013\u2002Midlands\u2002Framework
Civil\u2002Engineering
50
UK
Costain-Laing\u2002O\u2019Rourke\u2002Joint\u2002Venture\u2002\u2013\u2002Bond\u2002Street\u2002station
Civil\u2002Engineering
50
UK
Costain-Laing\u2002O\u2019Rourke\u2002Joint\u2002Venture\u2002\u2013\u2002Farringdon\u2002station
Civil\u2002Engineering
50
UK
Costain-Skanska\u2002C336\u2002Joint\u2002Venture\u2002\u2013\u2002Paddington\u2002New\u2002Yard\u2002\u2013\u2002Crossrail Civil\u2002Engineering 50 UK Costain-Skanska\u2002C360\u2002Joint\u2002Venture\u2002\u2013\u2002Eleanor\u2002Street\u2002\u2013\u2002Crossrail Civil\u2002Engineering 50 UK Costain-Skanska\u2002C405\u2002Joint\u2002Venture\u2002\u2013\u2002Paddington\u2002\u2013\u2002Crossrail Civil\u2002Engineering 50 UK Costain-Skanska\u2002C411\u2002Joint\u2002Venture\u2002\u2013\u2002Bond\u2002Street\u2002\u2013\u2002Crossrail Civil\u2002Engineering 50 UK Costain-Skanska\u2002C412\u2002Joint\u2002Venture\u2002\u2013\u2002Bond\u2002Street\u2002\u2013\u2002Crossrail Civil\u2002Engineering 50 UK Costain-Skanska\u2002\u2013\u2002HS2\u2002Enabling\u2002works Civil\u2002Engineering 50 UK Costain-Skanska\u2002Joint\u2002Venture\u2002\u2013\u2002A14\u2002Cambridge\u2002to\u2002Huntingdon\u2002Improvement\u2002Scheme Civil\u2002Engineering 50 UK Costain-Skanska\u2002Joint\u2002Venture\u2002\u2013\u2002A14\u2002Ellington\u2002to\u2002Fen\u2002Ditton Civil\u2002Engineering 50 UK Costain-Skanska\u2002Joint\u2002Venture\u2002\u2013\u2002Balfour\u2002Beatty\u2002Joint\u2002Venture\u2002\u2013\u2002A14 Civil\u2002Engineering 33.3 UK Costain-Skanska\u2002Joint\u2002Venture\u2002\u2013\u2002Crossrail\u2002Civils\u2002Framework\u2002Enabling\u2002Works Civil\u2002Engineering 50 UK Costain-Skanska\u2002Joint\u2002Venture\u2002\u2013\u2002NGT\u2002Tunnels,\u2002London Civil\u2002Engineering 52.6 UK Costain-Skanska\u2002Joint\u2002Venture\u2002\u2013\u2002Paddington\u2002Station\u2002Bakerloo\u2002Line\u2002Link\u2002Project Civil\u2002Engineering 50 UK Costain-Taylor\u2002Woodrow\u2002Joint\u2002Venture\u2002\u2013\u2002King\u2019s\u2002Cross\u2002re-development\u2002&\u2002 Phase\u2002II\u2002Northern\u2002works Civil\u2002Engineering 50 UK Costain-Vinci\u2002Construction\u2002Joint\u2002Venture\u2002\u2013\u2002Shieldhall Civil\u2002Engineering 50 UK Costain-Vinci\u2002Joint\u2002Venture\u2002\u2013\u2002M4\u2002corridor\u2002around\u2002Newport Civil\u2002Engineering 50 UK Costain-VWS\u2002Joint\u2002Venture\u2002\u2013\u2002Mersey\u2002Valley\u2002Processing\u2002Centre\u2002 (Shell\u2002Green)\u2002Extension\u2002Project\u2002Stage\u20022 Engineering 50 UK Educo\u2002UK\u2002Joint\u2002Venture\u2002\u2013\u2002Bradford\u2002Schools Building 50 UK Lagan-Ferrovial-Costain\u2002\u2013\u2002A8 Civil\u2002Engineering 45 UK The\u2002e5\u2002Joint\u2002Alliance\u2002Severn\u2002Trent\u2002Framework Engineering 25 UK TSIF-ILW\u2002Joint\u2002Venture\u2002\u2013\u2002Trawsfynydd\u2002nuclear\u2002power\u2002station\u2002decommissioning Civil\u2002Engineering 33.3 UK ", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-424": { "value": "
Registered
Percentage of office/principal place
Status equity held of business
Other\u2002joint\u2002ventures\u2002or\u2002associates\u2002owned\u2002indirectly\u2002by\u2002Costain\u2002Group\u2002PLC
ACM\u2002Health\u2002Solutions\u2002Limited
Dormant
33.3
(4)
Brighton\u2002&\u2002Hove\u20024Delivery\u2002Limited
Trading
49
(3)
Budimex\u2002&\u2002Costain\u2002SP\u2002ZO.O
Dormant
50
(13)
Costain\u2002Abu\u2002Dhabi\u2002Co\u2002WLL
Dormant
49
(8)
China\u2002Harbour-Costain\u2002Mexico\u2002S\u2002de\u2002RL\u2002de\u2002CV
Dormant
50
(12)
Jalal\u2002Costain\u2002WLL
Dormant
49
(9)
Nesma-Costain\u2002Process\u2002Co.\u2002Limited
Dormant
50
(10)
Key to registered office/principal place of business
(1) Seventh\u2002Floor,\u200270\u2002St\u2002Mary\u2002Axe,\u2002London,\u2002EC3A\u20028BE,\u2002England
(2) Neo\u2002House,\u2002Riverside,\u2002Aberdeen,\u2002AB11\u20027LH,\u2002Scotland
(3)
210
Pentonville\u2002Road,\u2002London,\u2002N1\u20029JY,\u2002England
(4) Booths\u2002Park,\u2002Chelford\u2002Road,\u2002Knutsford,\u2002WA16\u20028QZ,\u2002England\u2002
(5)
The\u2002Corporation\u2002Trust\u2002Company,\u2002Corporation\u2002Trust\u2002Center,\u20021209\u2002Orange\u2002Street,\u2002Wilmington,\u2002Delaware\u200219801\u2002(New\u2002Castle\u2002County),\u2002USA
(6) Alstom,\u2002Litchurch\u2002Lane,\u2002Derby,\u2002DE24\u20028AD,\u2002England
(7)
P.O.Box\u2002N-7768,\u2002Bank\u2002Lane,\u2002Nassau,\u2002Bahamas
(8) Dormant\u2002company\u2002\u2013\u2002Abu\u2002Dhabi,\u2002UAE,\u2002no\u2002record\u2002of\u2002address
(9) Flat\u200233,\u2002Building\u2002232,\u2002Road\u200218,\u2002Block\u2002321,\u2002Manama,\u2002Bahrain
(10)
P.O.Box\u20026967,\u200221452,
Jeddah,\u2002Saudi\u2002Arabia
(11)
Peninsula\u2002Plaza\u2002#27\u201301,\u2002111\u2002North\u2002Bridge\u2002Road,\u2002179098,\u2002Singapore
(12)
Calle\u2002Delfines\u2002No.\u2002268\u2002\u2013\u20022,\u2002Frac.\u2002Playa\u2002Ensenada,\u2002Ensenada,\u2002B.C.,\u2002CP.\u200222880,\u2002Mexico
(13) Marsza\u0142kowska\u200282,\u2002Warsaw,\u2002Mazowieckie,\u200200\u2013517,\u2002Poland
(14) Dormant\u2002company\u2002\u2013\u2002Venezuela,\u2002no\u2002record\u2002of\u2002address
(15) Dormant\u2002company\u2002\u2013\u2002Nigeria,\u2002no\u2002record\u2002of\u2002address
", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-425": { "value": "25 Related party transactions Group Related\u2002party\u2002relationships\u2002exist\u2002with\u2002subsidiaries,\u2002joint\u2002ventures\u2002and\u2002associates,\u2002joint\u2002operations,\u2002The\u2002Costain\u2002Pension\u2002Scheme\u2002and\u2002with\u2002directors\u2002and\u2002executive\u2002officers. Sales\u2002of\u2002goods\u2002and\u2002services
2024
2023
Joint ventures Joint Joint ventures Joint
and associates operations Total and associates operations Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Joint\u2002operations\u2002revenue
\u2013
545.2
545.2
\u2013
564.6
564.6
Services\u2002of\u2002Group\u2002employees
\u2013
86.7
86.7
\u2013
98.4
98.3
Construction\u2002services\u2002and\u2002materials
\u2013
18.4
18.4
\u2013
20.9
20.9
\u2013
650.3
650.3
\u2013
683.9
683.9
Balances\u2002with\u2002joint\u2002ventures\u2002and\u2002associates\u2002are\u2002disclosed\u2002in\u2002notes\u200216\u2002and\u200219.\u2002Balances\u2002with\u2002joint\u2002operations\u2002are\u2002eliminated\u2002on\u2002consolidation. The\u2002Costain\u2002Pension\u2002Scheme Details\u2002of\u2002transactions\u2002between\u2002the\u2002Group\u2002and\u2002The\u2002Costain\u2002Pension\u2002Scheme\u2002are\u2002included\u2002in\u2002note\u200221. Transactions\u2002with\u2002key\u2002management\u2002personnel Disclosures\u2002related\u2002to\u2002the\u2002remuneration\u2002of\u2002key\u2002management\u2002personnel\u2002as\u2002defined\u2002in\u2002IAS\u200224,\u2002\u2018Related\u2002Party\u2002Disclosures\u2019\u2002are\u2002given\u2002below.\u2002Key\u2002management\u2002personnel,\u2002as\u2002defined\u2002under\u2002IAS\u200224,\u2002\u2018Related\u2002Party\u2002Disclosures\u2019,\u2002have\u2002been\u2002identified\u2002as\u2002the\u2002Board,\u2002as\u2002the\u2002controls\u2002operated\u2002by\u2002the\u2002Group\u2002ensure\u2002that\u2002all\u2002key\u2002decisions\u2002are\u2002reserved\u2002for\u2002the\u2002Board. As\u2002at\u200210\u2002March\u20022025,\u2002the\u2002date\u2002of\u2002signing\u2002this\u2002report,\u2002the\u2002directors\u2002of\u2002the\u2002Company\u2002and\u2002their\u2002immediate\u2002relatives\u2002control\u2002827,985\u2002ordinary\u2002shares\u2002in\u2002Costain\u2002Group\u2002PLC,\u2002which\u2002expressed\u2002as\u2002a\u2002percentage\u2002of\u2002the\u2002issued\u2002share\u2002capital\u2002is\u20020.31%\u2002(2023:\u20020.14%). As\u2002announced\u2002on\u200212\u2002March\u20022024,\u2002Mr\u2002Bishoy\u2002Azmy\u2002stepped\u2002down\u2002from\u2002the\u2002Board\u2002as\u2002non-independent,\u2002non-executive\u2002director\u2002representative\u2002of\u2002the\u2002shareholder\u2002ASGC\u2002with\u2002effect\u2002from\u200231\u2002March\u20022024.\u2002In\u2002September\u20022024,\u2002ASGC\u2002sold\u2002its\u2002total\u2002shareholding\u2002of\u200241,666,666\u2002shares\u2002in\u2002the\u2002Group. In\u2002addition\u2002to\u2002their\u2002salaries,\u2002in\u2002respect\u2002of\u2002the\u2002executive\u2002directors\u2002and\u2002executive\u2002officers,\u2002the\u2002Group\u2002provides\u2002non-cash\u2002benefits\u2002and\u2002contributes\u2002to\u2002defined\u2002contribution\u2002pension\u2002plans.\u2002Executive\u2002directors\u2002and\u2002executive\u2002officers\u2002also\u2002participate\u2002in\u2002the\u2002Group\u2019s\u2002LTIP,\u2002AIP\u2002and\u2002SAYE\u2002plans,\u2002which\u2002are\u2002detailed\u2002in\u2002note\u200221. The\u2002compensation\u2002of\u2002key\u2002management\u2002personnel,\u2002including\u2002the\u2002directors,\u2002is\u2002as\u2002follows:
Group
2024 2023
\u00a3m \u00a3m
Directors\u2019\u2002emoluments
1.4
1.3
Executive\u2002officers\u2019\u2002emoluments
2.2
2.0
Post-employment\u2002benefits
0.2
0.1
Termination\u2002benefits
\u2013
0.2
Share-based\u2002payments
2.0
1.5
5.8
5.1
The\u2002above\u2002amounts\u2002are\u2002included\u2002in\u2002employee\u2002benefit\u2002expense\u2002(note\u20026).", "dimensions": { "concept": "ifrs-full:DisclosureOfTransactionsBetweenRelatedPartiesExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-397": { "value": "25 Related party transactions Group Related\u2002party\u2002relationships\u2002exist\u2002with\u2002subsidiaries,\u2002joint\u2002ventures\u2002and\u2002associates,\u2002joint\u2002operations,\u2002The\u2002Costain\u2002Pension\u2002Scheme\u2002and\u2002with\u2002directors\u2002and\u2002executive\u2002officers. Sales\u2002of\u2002goods\u2002and\u2002services
2024
2023
Joint ventures Joint Joint ventures Joint
and associates operations Total and associates operations Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Joint\u2002operations\u2002revenue
\u2013
545.2
545.2
\u2013
564.6
564.6
Services\u2002of\u2002Group\u2002employees
\u2013
86.7
86.7
\u2013
98.4
98.3
Construction\u2002services\u2002and\u2002materials
\u2013
18.4
18.4
\u2013
20.9
20.9
\u2013
650.3
650.3
\u2013
683.9
683.9
Balances\u2002with\u2002joint\u2002ventures\u2002and\u2002associates\u2002are\u2002disclosed\u2002in\u2002notes\u200216\u2002and\u200219.\u2002Balances\u2002with\u2002joint\u2002operations\u2002are\u2002eliminated\u2002on\u2002consolidation. The\u2002Costain\u2002Pension\u2002Scheme Details\u2002of\u2002transactions\u2002between\u2002the\u2002Group\u2002and\u2002The\u2002Costain\u2002Pension\u2002Scheme\u2002are\u2002included\u2002in\u2002note\u200221. Transactions\u2002with\u2002key\u2002management\u2002personnel Disclosures\u2002related\u2002to\u2002the\u2002remuneration\u2002of\u2002key\u2002management\u2002personnel\u2002as\u2002defined\u2002in\u2002IAS\u200224,\u2002\u2018Related\u2002Party\u2002Disclosures\u2019\u2002are\u2002given\u2002below.\u2002Key\u2002management\u2002personnel,\u2002as\u2002defined\u2002under\u2002IAS\u200224,\u2002\u2018Related\u2002Party\u2002Disclosures\u2019,\u2002have\u2002been\u2002identified\u2002as\u2002the\u2002Board,\u2002as\u2002the\u2002controls\u2002operated\u2002by\u2002the\u2002Group\u2002ensure\u2002that\u2002all\u2002key\u2002decisions\u2002are\u2002reserved\u2002for\u2002the\u2002Board. As\u2002at\u200210\u2002March\u20022025,\u2002the\u2002date\u2002of\u2002signing\u2002this\u2002report,\u2002the\u2002directors\u2002of\u2002the\u2002Company\u2002and\u2002their\u2002immediate\u2002relatives\u2002control\u2002827,985\u2002ordinary\u2002shares\u2002in\u2002Costain\u2002Group\u2002PLC,\u2002which\u2002expressed\u2002as\u2002a\u2002percentage\u2002of\u2002the\u2002issued\u2002share\u2002capital\u2002is\u20020.31%\u2002(2023:\u20020.14%). As\u2002announced\u2002on\u200212\u2002March\u20022024,\u2002Mr\u2002Bishoy\u2002Azmy\u2002stepped\u2002down\u2002from\u2002the\u2002Board\u2002as\u2002non-independent,\u2002non-executive\u2002director\u2002representative\u2002of\u2002the\u2002shareholder\u2002ASGC\u2002with\u2002effect\u2002from\u200231\u2002March\u20022024.\u2002In\u2002September\u20022024,\u2002ASGC\u2002sold\u2002its\u2002total\u2002shareholding\u2002of\u200241,666,666\u2002shares\u2002in\u2002the\u2002Group. In\u2002addition\u2002to\u2002their\u2002salaries,\u2002in\u2002respect\u2002of\u2002the\u2002executive\u2002directors\u2002and\u2002executive\u2002officers,\u2002the\u2002Group\u2002provides\u2002non-cash\u2002benefits\u2002and\u2002contributes\u2002to\u2002defined\u2002contribution\u2002pension\u2002plans.\u2002Executive\u2002directors\u2002and\u2002executive\u2002officers\u2002also\u2002participate\u2002in\u2002the\u2002Group\u2019s\u2002LTIP,\u2002AIP\u2002and\u2002SAYE\u2002plans,\u2002which\u2002are\u2002detailed\u2002in\u2002note\u200221. The\u2002compensation\u2002of\u2002key\u2002management\u2002personnel,\u2002including\u2002the\u2002directors,\u2002is\u2002as\u2002follows:
Group
2024 2023
\u00a3m \u00a3m
Directors\u2019\u2002emoluments
1.4
1.3
Executive\u2002officers\u2019\u2002emoluments
2.2
2.0
Post-employment\u2002benefits
0.2
0.1
Termination\u2002benefits
\u2013
0.2
Share-based\u2002payments
2.0
1.5
5.8
5.1
The\u2002above\u2002amounts\u2002are\u2002included\u2002in\u2002employee\u2002benefit\u2002expense\u2002(note\u20026).", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-363": { "value": "26 Prior year restatements Gross up to other receivables and accruals During\u2002the\u2002year,\u2002it\u2002was\u2002identified\u2002that\u2002\u00a315.7m\u2002of\u2002accrued\u2002expenses\u2002and\u2002other\u2002receivables\u2002relating\u2002to\u2002one\u2002of\u2002our\u2002joint\u2002operations,\u2002as\u2002reported\u2002as\u2002at\u200231\u2002December\u20022023\u2002and\u2002disclosed\u2002in\u2002the\u20022023\u2002financial\u2002statements,\u2002were\u2002incorrectly\u2002netted\u2002off.\u2002There\u2002is\u2002no\u2002net\u2002impact\u2002on\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002and\u2002no\u2002material\u2002impact\u2002on\u2002the\u2002profit\u2002and\u2002loss\u2002account\u2002or\u2002the\u2002statement\u2002of\u2002cash\u2002flows;\u2002however,\u2002the\u2002movements\u2002in\u2002receivables\u2002and\u2002payables\u2002have\u2002been\u2002restated\u2002in\u2002the\u2002statement\u2002of\u2002cash\u2002flows.\u2002The\u2002prior\u2002year\u2002statement\u2002of\u2002financial\u2002position\u2002has\u2002been\u2002restated\u2002and\u2002the\u2002impact\u2002of\u2002the\u2002restatement\u2002is\u2002as\u2002shown\u2002in\u2002the\u2002table\u2002below.\u2002At\u2002the\u2002opening\u2002balance\u2002sheet\u2002date\u2002of\u2002the\u2002earliest\u2002period\u2002presented,\u2002being\u20021\u2002January\u20022023,\u2002the\u2002gross\u2002up\u2002was\u2002\u00a311.4m. As reported As restated 2023 2023 \u00a3m \u00a3m Other\u2002receivables 6.6 22.3 Accruals\u2002and\u2002deferred\u2002income 100.1 115.8 Gross up to contract assets and contract liabilities During\u2002the\u2002year,\u2002it\u2002was\u2002identified\u2002that\u2002both\u2002contract\u2002assets\u2002and\u2002liabilities\u2002totalling\u2002\u00a357.9m\u2002had\u2002been\u2002understated\u2002in\u2002the\u2002prior\u2002year.\u2002There\u2002is\u2002no\u2002net\u2002impact\u2002on\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002and\u2002no\u2002impact\u2002on\u2002the\u2002profit\u2002and\u2002loss\u2002account\u2002or\u2002the\u2002statement\u2002of\u2002cash\u2002flows;\u2002however,\u2002the\u2002movements\u2002in\u2002receivables\u2002and\u2002payables\u2002have\u2002been\u2002restated\u2002in\u2002the\u2002statement\u2002of\u2002cash\u2002flows.\u2002The\u2002prior\u2002year\u2002statement\u2002of\u2002financial\u2002position\u2002has\u2002been\u2002restated\u2002and\u2002the\u2002impact\u2002of\u2002the\u2002restatement\u2002is\u2002as\u2002shown\u2002in\u2002the\u2002table\u2002below.\u2002At\u2002the\u2002opening\u2002balance\u2002sheet\u2002date\u2002of\u2002the\u2002earliest\u2002period\u2002presented,\u2002being\u20021\u2002January\u20022023,\u2002the\u2002gross\u2002up\u2002was\u2002\u00a324.1m. As reported As restated 2023 2023 \u00a3m \u00a3m Contract\u2002assets 26.9 84.8 Contract\u2002liabilities (5.1) (63.0) Cash and cash equivalents \u2013 with restrictions For\u2002the\u2002year\u2002ended\u200231\u2002December\u20022024,\u2002the\u2002Group\u2002has\u2002changed\u2002the\u2002presentation\u2002of\u2002amounts\u2002held\u2002in\u2002trust\u2002bank\u2002accounts\u2002on\u2002behalf\u2002of\u2002certain\u2002customers\u2002and\u2002designated\u2002for\u2002future\u2002payment\u2002to\u2002suppliers.\u2002These\u2002were\u2002previously\u2002recognised\u2002in\u2002the\u2002Group\u2019s\u2002balance\u2002sheet\u2002as\u2002a\u2002trade\u2002receivable\u2002from\u2002the\u2002customer\u2002depicting\u2002that\u2002the\u2002cash\u2002is\u2002held\u2002in\u2002trust\u2002for\u2002the\u2002customer\u2002and\u2002does\u2002not\u2002represent\u2002the\u2002Group\u2019s\u2002cash.\u2002In\u20022024,\u2002the\u2002Group\u2002has\u2002re-presented\u2002these\u2002accounts\u2002as\u2002\u2018cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions\u2019\u2002and\u2002restated\u2002the\u2002comparative\u2002at\u200231\u2002December\u20022023\u2002resulting\u2002in\u2002no\u2002net\u2002impact\u2002on\u2002the\u2002statement\u2002of\u2002financial\u2002position.\u2002There\u2002is\u2002no\u2002impact\u2002on\u2002the\u2002profit\u2002and\u2002loss\u2002account.\u2002The\u2002statement\u2002of\u2002cash\u2002flows\u2002has\u2002been\u2002restated\u2002to\u2002include\u2002these\u2002amounts\u2002and\u2002the\u2002in\u2002year\u2002movements\u2002thereon\u2002including\u2002a\u2002restatement\u2002to\u2002the\u2002movements\u2002in\u2002receivables.\u2002The\u2002opening\u2002cash\u2002balance\u2002as\u2002at\u20021\u2002January\u20022023\u2002has\u2002also\u2002been\u2002restated\u2002in\u2002the\u2002statement\u2002of\u2002cash\u2002flows.\u2002The\u2002impact\u2002of\u2002the\u2002restatement\u2002is\u2002as\u2002shown\u2002in\u2002the\u2002table\u2002below.\u2002As reported As restated 2023 2023 \u00a3m \u00a3m Cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions\u2002at\u20021\u2002January \u2013 10.3 Cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions\u2002at\u200231\u2002December \u2013 24.4 Trade\u2002receivables 92.5 68.1", "dimensions": { "concept": "costaingroupplc:DisclosureOfPriorYearRestatements", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-398": { "value": "26 Prior year restatements Gross up to other receivables and accruals During\u2002the\u2002year,\u2002it\u2002was\u2002identified\u2002that\u2002\u00a315.7m\u2002of\u2002accrued\u2002expenses\u2002and\u2002other\u2002receivables\u2002relating\u2002to\u2002one\u2002of\u2002our\u2002joint\u2002operations,\u2002as\u2002reported\u2002as\u2002at\u200231\u2002December\u20022023\u2002and\u2002disclosed\u2002in\u2002the\u20022023\u2002financial\u2002statements,\u2002were\u2002incorrectly\u2002netted\u2002off.\u2002There\u2002is\u2002no\u2002net\u2002impact\u2002on\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002and\u2002no\u2002material\u2002impact\u2002on\u2002the\u2002profit\u2002and\u2002loss\u2002account\u2002or\u2002the\u2002statement\u2002of\u2002cash\u2002flows;\u2002however,\u2002the\u2002movements\u2002in\u2002receivables\u2002and\u2002payables\u2002have\u2002been\u2002restated\u2002in\u2002the\u2002statement\u2002of\u2002cash\u2002flows.\u2002The\u2002prior\u2002year\u2002statement\u2002of\u2002financial\u2002position\u2002has\u2002been\u2002restated\u2002and\u2002the\u2002impact\u2002of\u2002the\u2002restatement\u2002is\u2002as\u2002shown\u2002in\u2002the\u2002table\u2002below.\u2002At\u2002the\u2002opening\u2002balance\u2002sheet\u2002date\u2002of\u2002the\u2002earliest\u2002period\u2002presented,\u2002being\u20021\u2002January\u20022023,\u2002the\u2002gross\u2002up\u2002was\u2002\u00a311.4m.
As reported As restated
2023 2023
\u00a3m \u00a3m
Other\u2002receivables
6.6
22.3
Accruals\u2002and\u2002deferred\u2002income
100.1
115.8
Gross up to contract assets and contract liabilities During\u2002the\u2002year,\u2002it\u2002was\u2002identified\u2002that\u2002both\u2002contract\u2002assets\u2002and\u2002liabilities\u2002totalling\u2002\u00a357.9m\u2002had\u2002been\u2002understated\u2002in\u2002the\u2002prior\u2002year.\u2002There\u2002is\u2002no\u2002net\u2002impact\u2002on\u2002the\u2002statement\u2002of\u2002financial\u2002position\u2002and\u2002no\u2002impact\u2002on\u2002the\u2002profit\u2002and\u2002loss\u2002account\u2002or\u2002the\u2002statement\u2002of\u2002cash\u2002flows;\u2002however,\u2002the\u2002movements\u2002in\u2002receivables\u2002and\u2002payables\u2002have\u2002been\u2002restated\u2002in\u2002the\u2002statement\u2002of\u2002cash\u2002flows.\u2002The\u2002prior\u2002year\u2002statement\u2002of\u2002financial\u2002position\u2002has\u2002been\u2002restated\u2002and\u2002the\u2002impact\u2002of\u2002the\u2002restatement\u2002is\u2002as\u2002shown\u2002in\u2002the\u2002table\u2002below.\u2002At\u2002the\u2002opening\u2002balance\u2002sheet\u2002date\u2002of\u2002the\u2002earliest\u2002period\u2002presented,\u2002being\u20021\u2002January\u20022023,\u2002the\u2002gross\u2002up\u2002was\u2002\u00a324.1m.
As reported As restated
2023 2023
\u00a3m \u00a3m
Contract\u2002assets
26.9
84.8
Contract\u2002liabilities
(5.1)
(63.0)
Cash and cash equivalents \u2013 with restrictions For\u2002the\u2002year\u2002ended\u200231\u2002December\u20022024,\u2002the\u2002Group\u2002has\u2002changed\u2002the\u2002presentation\u2002of\u2002amounts\u2002held\u2002in\u2002trust\u2002bank\u2002accounts\u2002on\u2002behalf\u2002of\u2002certain\u2002customers\u2002and\u2002designated\u2002for\u2002future\u2002payment\u2002to\u2002suppliers.\u2002These\u2002were\u2002previously\u2002recognised\u2002in\u2002the\u2002Group\u2019s\u2002balance\u2002sheet\u2002as\u2002a\u2002trade\u2002receivable\u2002from\u2002the\u2002customer\u2002depicting\u2002that\u2002the\u2002cash\u2002is\u2002held\u2002in\u2002trust\u2002for\u2002the\u2002customer\u2002and\u2002does\u2002not\u2002represent\u2002the\u2002Group\u2019s\u2002cash.\u2002In\u20022024,\u2002the\u2002Group\u2002has\u2002re-presented\u2002these\u2002accounts\u2002as\u2002\u2018cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions\u2019\u2002and\u2002restated\u2002the\u2002comparative\u2002at\u200231\u2002December\u20022023\u2002resulting\u2002in\u2002no\u2002net\u2002impact\u2002on\u2002the\u2002statement\u2002of\u2002financial\u2002position.\u2002There\u2002is\u2002no\u2002impact\u2002on\u2002the\u2002profit\u2002and\u2002loss\u2002account.\u2002The\u2002statement\u2002of\u2002cash\u2002flows\u2002has\u2002been\u2002restated\u2002to\u2002include\u2002these\u2002amounts\u2002and\u2002the\u2002in\u2002year\u2002movements\u2002thereon\u2002including\u2002a\u2002restatement\u2002to\u2002the\u2002movements\u2002in\u2002receivables.\u2002The\u2002opening\u2002cash\u2002balance\u2002as\u2002at\u20021\u2002January\u20022023\u2002has\u2002also\u2002been\u2002restated\u2002in\u2002the\u2002statement\u2002of\u2002cash\u2002flows.\u2002The\u2002impact\u2002of\u2002the\u2002restatement\u2002is\u2002as\u2002shown\u2002in\u2002the\u2002table\u2002below.\u2002
As reported As restated
2023 2023
\u00a3m \u00a3m
Cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions\u2002at\u20021\u2002January
\u2013
10.3
Cash\u2002and\u2002cash\u2002equivalents\u2002\u2013\u2002with\u2002restrictions\u2002at\u200231\u2002December
\u2013
24.4
Trade\u2002receivables
92.5
68.1
", "dimensions": { "concept": "ifrs-full:DisclosureOfReclassificationsOrChangesInPresentationExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-364": { "value": "
27 Events after the reporting date
There\u2002are\u2002no\u2002events\u2002after\u2002the\u2002reporting\u2002date.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-7": { "value": "Seventh Floor 70 St Mary Axe London EC3A 8BE", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:213800PKIJBZ2EDTKC88", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } } } }