wk-2024-12-31-ixbrl


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Kellogg Brown & Root (U.K.) Limited

Strategic Report

Year ended 31 December 2024

The Directors present their strategic report of Kellogg Brown & Root (U.K.) Limited (“the Company”) for

the year ended 31 December 2024.

Principal activities and business review

Principal activity

The Company's principal activity is the employment of staff on UK payrolls on behalf of certain KBR, Inc.

group companies ("the Group").

Business review

The payroll costs for the year were £150,557,000 (2023: £129,939,000). All payroll costs were recharged

to group companies at cost.

At year end the Company's defined benefit pension scheme moved from a liability of £7,271,000 in 2023 to

an asset of £61,737,000 due to changes in market conditions and assumptions made by the Company's

directors based on the actuarial valuation report at 31 December 2024. The main change in assumptions

which has contributed to the move from asset to liability is an increase in the discount rate used to calculate

the present value of future pension liabilities. The principal actuarial assumptions used can be seen in note

15 of the accounts.

Future developments

The Company will continue to provide payroll administrative services for companies in the Kellogg Brown

& Root Holdings Limited Group and is thus dependent on staffing requirements of the various projects

being run through the Group.

Results

The loss for the year, after taxation, amounted to £19,401,000 (2023: £35,699,000). The net assets at the

end of the year totalled £72,036,000 (2023: net liabilities - £515,228,000).

Financial risk management objectives and policies

Principal risks and uncertainties

The management of the business and the execution of the Company's strategy are subject to a number of

risks. The key business risks and uncertainties affecting the Company are considered to relate to the

following:

• Defined benefit pension scheme liabilities. The pension scheme’s funding position and investment

performance is analysed regularly. Funding valuations are negotiated and de-risking opportunities are

reviewed.

• Recoverability of intercompany receivables. Where amounts are due from group companies with net

liabilities, parental guarantees and letters of support are obtained to ensure that they will be able to

meet their obligations as they fall due.

• Solvency of KBR group. The Company is dependent on financial support and funding from other

KBR group companies.


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Kellogg Brown & Root (U.K.) Limited

Strategic Report (continued)

Year ended 31 December 2024

Principal risks and uncertainties (continued)

Cash flow risk, pricing risk and credit and liquidity risk are managed on a Group level and are disclosed in

the Annual Report of the Group.

Key Performance Indicators ("KPIs")

The business which comprises this Company makes up part of the group. The KPIs used to review and

monitor the business are set by the directors of the group and are discussed in more detail in the Annual

Report of the Group.

Section 172(1) statement

The directors continue to have regard to the matters set out in sections 172(1) (a) to (f) of the Companies

Act 2006, thereby promoting the success of the Company for the benefit of its stakeholders as a whole,

including the likely consequences of their decisions in the longer term, and how they have taken wider

stakeholders' needs into account.

During the year ended 31 December 2024, the board reviewed its stakeholder mapping to assess whether

the identification of key stakeholders remains appropriate. It was concluded that the key stakeholders

remain the Company's ultimate parent company KBR, Inc., its subsidiaries, employees and Kellogg Brown

& Root (U.K.) Limited's Pension Scheme.

The Company is also aware of its impact on the local communities where it operates, and its wider social

and environmental responsibilities.

In order to place stakeholders' considerations at the heart of the board's decision-making process, the

directors receive regular feedback and insights on the Company's key stakeholders during their board

meetings, town halls with employees, meetings with employees' representatives, clients and pension plan

trustees. The directors recognise the importance of proactive engagement with the Company's stakeholders

in order to understand their perspectives first-hand and to maintain positive and effective relationships.

During the year, the directors discussed service delivery and other strategic matters with senior members of

the KBR, Inc. companies during formal meetings, informal correspondence and attendance at strategic

boards.

Issues related to the Company's personnel secondments to various KBR projects are addressed at regular

internal project reviews attended by the directors. By way of example, the following issues are escalated:

safety, compliance, client feedback (positive and negative), performance, potential financial impacts and all

matters about which there is doubt.

The Company's ultimate parent's board regularly receives information regarding the Company's

performance. The Company remains aligned with the strategic and business development objectives of

KBR, Inc..


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Kellogg Brown & Root (U.K.) Limited

Strategic Report (continued)

Year ended 31 December 2024

Section 172(1) statement (continued)

The directors regularly engage with employees and management teams, to review operations first-hand and

to assure themselves of the adequacy of resources, employment conditions, facilities, safety arrangements

and compliance with all relevant regulations.

The directors review and monitor the compliance of its employees with the KBR Code of Business

Conduct and ethics, anti-corruption legislation and support of the Company's statements on the Modern

Slavery Act. In addition, the directors have made available an independent whistleblowing facility which

can be accessed on the KBR's website.

The directors maintain the Company's culture regarding staff members which involves equity in reward and

recognition, job satisfaction, career development and a positive work environment. The Company's Zero

Harm policy in the area of health and safety is their top priority.

The Company’s people play an active role in the life of local communities, supporting charities, local

schools and providing employment opportunities.

Statement of engagement with suppliers, customers and others in a business

relationship with the Company

Our suppliers are key to the success of the Company by providing various staff benefits such as pension

and healthcare, which allows the company to attract and retain talented employees. The directors regularly

engage with employees and management teams, to review operations firsthand and to assure themselves of

the adequacy of resources, employment conditions, facilities, safety arrangements and compliance with all

relevant regulations.

The Company has strong relationships with its customers who are other KBR, Inc. group companies.

During the year, the directors discussed service delivery and other strategic matters with senior members of

the KBR, Inc. companies during formal meetings, informal correspondence and attendance at strategic

boards.

This report was approved by the board of directors on 31 July 2025 and signed on behalf of the board by:


Mr C Jeffs
Director

Registered office:
Hill Park Court
Springfield Drive
Leatherhead
Surrey
KT22 7NL


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Kellogg Brown & Root (U.K.) Limited

Directors' Report

Year ended 31 December 2024

The directors present their report and the financial statements of the Company for the year ended

31 December 2024.

Directors

The directors who served the company during the year were as follows:


S J B Bradie
J J Ibrahim
C Jeffs
J P Baillie	(Appointed 2 April 2024)
P C O'Shaughnessy	(Appointed 15 July 2024)
A Al-Dadah	Resigned 15 March 2024
P E Kahn	(Resigned 12 July 2024)

Company secretary


S Galindo
M S Z Cable-Lewis	(Appointed 15 May 2025)

Dividends

The directors do not recommend the payment of a dividend (2023: £nil).

Events after the end of the reporting period

Particulars of events after the reporting date are detailed in note 21 to the financial statements.

Employment of disabled persons

In pursuit of its equal opportunity policy, the Company gives full and fair consideration to the employment

of disabled persons, taking into account the degree of disablement, proposed job function and working

environment. An employee who becomes disabled whilst in the group's employment will continue where

possible in the employment in which he or she was engaged prior to the disablement. Training and

development is undertaken by the Company for all employees including disabled persons.

Employee involvement

The Company has continued the regular distribution to employees of news bulletins and parent company

publications. It is the Company's continuing policy to seek improvements to the existing channels of

communication.

Energy and carbon reporting disclosure

The Company is a subsidiary of Kellogg Brown & Root Holdings Limited which prepares consolidated

accounts containing the detailed Energy and Carbon Disclosure in its Director's Report.


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Kellogg Brown & Root (U.K.) Limited

Directors' Report (continued)

Year ended 31 December 2024

Going concern

The directors of the company have prepared the financial statements on a going concern basis which they

consider appropriate for the following reasons.

At the balance sheet, the company was in a net current asset position of £18,810,000 (2023: net current

liability - £507,957,000) and a net asset position of £72,036,000 (2023: net liability - £515,228,000),

providing employment services on behalf of certain KBR, Inc. group companies.

The defined benefit pension plan of the Company is jointly guaranteed by Kellogg Brown & Root Holdings

Limited (Principal Guarantor), Kellogg Brown & Root Holdings (U.K.) Limited (First Additional

Guarantor) and Kellogg Brown & Root Limited (Second Additional Guarantor).

Consequently, the directors are confident that the Company will have sufficient funds to continue to meet

its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and

therefore have prepared the financial statements on a going concern basis.

Disclosure of information in the strategic report

In accordance with section 414C(11) of the Companies Act 2006 the following information has been

presented in the strategic report on pages 1 to 2 as the directors consider this to be of strategic importance

to the company:

• Principal activities and business review

• Future developments

• Results

• Principal risks and uncertainties

• Key performance indicators

Statement of directors’ responsibilities

The directors are responsible for preparing the strategic report, the directors' report and the financial

statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law

they have elected to prepare the financial statements in accordance with applicable law and United

Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including

Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of

Ireland'.

Under company law the directors must not approve the financial statements unless they are satisfied that

they give a true and fair view of the state of affairs of the company and of the profit or loss of the Company

for that period. In preparing these financial statements, the directors are required to:

• select suitable accounting policies for the Company’s financial statements and then apply them

consistently;

• make judgments and estimates that are reasonable and prudent;


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Kellogg Brown & Root (U.K.) Limited

Directors' Report (continued)

Year ended 31 December 2024

• state whether applicable UK Accounting Standards have been followed, subject to any material

departures disclosed and explained in the financial statements;

• assess the Company's ability to continue as a going concern, disclosing, as applicable, matters related

to going concern; and

• prepare the financial statements on the going concern basis of accounting unless they either intend to

liquidate the Company or to cease operations, or have no realistic alternative but to do so.

The directors are responsible for keeping adequate accounting records that are sufficient to show and

explain the Company's transactions and disclose with reasonable accuracy at any time the financial position

of the Company and enable them to ensure that the financial statements comply with the Companies Act

2006. They are responsible for such internal control as they determine is necessary to enable the

preparation of financial statements that are free from material misstatement, whether due to fraud or error,

and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets

of the Company and to prevent and detect fraud and other irregularities.

Disclosure of information to auditor

Each of the persons who is a director at the date of approval of this report confirms that:

• so far as they are aware, there is no relevant audit information of which the company's auditor is

unaware; and

• they have taken all steps that they ought to have taken as a director to make themselves aware of any

relevant audit information and to establish that the company's auditor is aware of that information.

Auditor

Pursuant to Section 487 of the Companies Act 2006, the auditor will be deemed to be reappointed and

Grant Thornton will therefore continue in office.

This report was approved by the board of directors on 31 July 2025 and signed on behalf of the board by:


Mr C Jeffs
Director

Registered office:
Hill Park Court
Springfield Drive
Leatherhead
Surrey
KT22 7NL


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Independent Auditor’s Report to the Member of Kellogg Brown & Root (U.K.)

Limited

Opinion

We have audited the financial statements of Kellogg Brown & Root (U.K.) Limited (the “Company”), which

comprise the Income Statement, Statement of Comprehensive Income, Statement of Financial Position,

Statement of Changes in Equity for the year ended 31 December 2024 and the related notes to the financial

statements, including a summary of significant accounting policies.

The financial reporting framework that has been applied in the preparation of the financial statements is

applicable law and FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of

Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion, Kellogg Brown & Root (U.K.) Limited’s financial statements:

• give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice

of the assets, liabilities and financial position of the company as at 31 December 2024 and of its

financial performance for the year then ended;

• have been properly prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (‘ISAs (UK)’) and

applicable law. Our responsibilities under those standards are further described in the ‘Responsibilities of the

auditor for the audit of the financial statements’ section of our report. We are independent of the company in

accordance with the ethical requirements that are relevant to our audit of the financial statements in the United

Kingdom, including the FRC’s Ethical Standard and the ethical pronouncements established by Chartered

Accountants Ireland, applied as determined to be appropriate in the circumstances for the entity. We have

fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit

evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors’ use of going concern basis of

accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or

conditions that, individually or collectively, may cast significant doubt on the Company’s ability to continue as a

going concern for a period of at least twelve months from the date when the financial statements are authorised

for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the

relevant sections of this report.


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Independent Auditor’s Report to the Member of Kellogg Brown & Root (U.K.)

Limited (continued)

Other information

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

our auditor’s report thereon, including the Directors’ Report and the Strategic Report. The directors are

responsible for the other information. Our opinion on the financial statements does not cover the other

information and, except to the extent otherwise explicitly stated in our report, we do not express any form of

assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in

doing so, consider whether the other information is materially inconsistent with the financial statements or our

knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify such material

inconsistencies in the financial statements, we are required to determine whether there is a material misstatement

in the financial statements or a material misstatement of the other information. If, based on the work we have

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

that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the Strategic Report and the Directors’ Report for the financial year for which

the financial statements are prepared is consistent with the financial statements; and

• the Strategic Report and the Directors’ Report have been prepared in accordance with applicable legal

requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the

audit, we have not identified any material misstatements in the Strategic Report and the Directors’ Report. We

have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to

you if, in our opinion:

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

from branches not visited by us; or

• the financial statements and the part of the Directors’ remuneration report to be audited are not in

agreement with the accounting records and returns; or

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

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


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Independent Auditor’s Report to the Member of Kellogg Brown & Root (U.K.)

Limited (continued)

Responsibilities of management and those charged with governance for the financial

statements

As explained more fully in the Directors' responsibilities statement, management is responsible for the

preparation of the financial statements which give a true and fair view in accordance with United Kingdom

Generally Accepted Accounting Practice, including FRS 102, and for such internal control as directors determine

necessary to enable the preparation of financial statements are free from material misstatement, whether due to

fraud or error.

In preparing the financial statements, management is responsible for assessing the Company’s ability to continue

as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis

of accounting unless management either intends to liquidate the Company or to cease operations, or has no

realistic alternative but to do so.

Those charged with governance are responsible for overseeing the Company’s financial reporting process.

Responsibilities of the auditor for the audit of the financial statements

The objectives of an auditor are to obtain reasonable assurance about whether the financial statements as a whole

are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes

their opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in

accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise

from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be

expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of an auditor’s responsibilities for the audit of the financial statements is located on the

Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of

our auditor’s report.

Explanation as to what extent the audit was considered capable of detecting irregularities,

including fraud

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

in line with our responsibilities, to detect material misstatements in respect of irregularities, including fraud.

Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the

financial statements may not be detected, even though the audit is properly planned and performed in accordance

with the ISAs (UK). The extent to which our procedures are capable of detecting irregularities, including fraud is

detailed below.


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Independent Auditor’s Report to the Member of Kellogg Brown & Root (U.K.)

Limited (continued)

Responsibilities of the auditor for the audit of the financial statements (continued)

Explanation as to what extent the audit was considered capable of detecting irregularities,

including fraud (continued)

Based on our understanding of the company and industry, we identified that the principal risks of non-compliance

with laws and regulations related to compliance with Data Privacy law, Employment Law, Environmental

Regulations, and Health & Safety, and we considered the extent to which non-compliance might have a material

effect on the financial statements. We also considered those laws and regulations that have a direct impact on the

preparation of the financial statements such as the Companies Act 2006 and local tax legislation. We evaluated

management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the

risk of override of controls), and determined that the principal risks were related to posting inappropriate journal

entries to manipulate financial performance and management bias through judgements and assumptions in

significant accounting estimates, in particular in relation to significant one-off or unusual transactions. We apply

professional scepticism through the audit to consider potential deliberate omission or concealment of significant

transactions, or incomplete/inaccurate disclosures in the financial statement.

In response to these principal risks, our audit procedures included but were not limited to:

• enquiries board on the policies and procedures in place regarding compliance with laws and regulations,

including consideration of known or suspected instances of non-compliance and whether they have

knowledge of any actual, suspected or alleged fraud;

• review of minutes of board meetings during the year to corroborate inquiries made;

• gaining an understanding of the internal controls established to mitigate risk related to fraud;

• discussion amongst the engagement team in relation to the identified laws and regulations and regarding

the risk of fraud, and remaining alert to any indications of non-compliance or opportunities for

fraudulent manipulation of financial statements throughout the audit;

• identifying and testing journal entries to address the risk of inappropriate journals and management

override of controls;

• designing audit procedures to incorporate unpredictability around the nature, timing or extent of our

testing;

• challenging assumptions and judgements made by management in their significant accounting estimates;

and

• review of the financial statement disclosures to underlying supporting documentation and inquiries of

management.

The primary responsibility for the prevention and detection of irregularities including fraud rests with those

charged with governance and management. As with any audit, there remains a risk of non-detection or

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

internal controls.


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Independent Auditor’s Report to the Member of Kellogg Brown & Root (U.K.)

Limited (continued)

The purpose of our audit work and to whom we owe our responsibilities

This report is made solely to the company’s members, as a body, in accordance with chapter 3 of Part 16 of the

Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members

those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent

permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s

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

Blaithin O'Neill (Senior Statutory Auditor)

For and on behalf of

Grant Thornton

Chartered Accountants & Statutory Auditors

Dublin

31 July 2025

The notes on pages 16 to 31 form part of these financial statements.


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Kellogg Brown & Root (U.K.) Limited

Income Statement

Year ended 31 December 2024


		2024	2023
	Note	£000	£000
Turnover	4	150,557	129,939
Cost of sales		(150,557)	(129,939)
Gross profit		—	—
Administrative income/(expenses)		20	(929)
Operating profit/(loss)	5	20	(929)
Other interest receivable and similar income	8	1,669	4,657
Interest payable and similar expenses	9	(30,459)	(54,751)
Loss before taxation		(28,770)	(51,023)
Tax on loss	10	9,369	15,324
Loss for the financial year		(19,401)	(35,699)

All the activities of the Company are from continuing operations.

The notes on pages 16 to 31 form part of these financial statements.


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Kellogg Brown & Root (U.K.) Limited

Statement of Comprehensive Income

Year ended 31 December 2024


		2024	2023
	Note	£000	£000
Loss for the financial year		(19,401)	(35,699)
Remeasurement gain/(loss) on the net defined benefit plan	15	25,720	(48,218)
Tax relating to components of other comprehensive income/(loss)	10	(6,430)	11,129
Other comprehensive income/(loss) for the financial year		19,290	(37,089)
Total comprehensive loss for the financial year		(111)	(72,788)

The notes on pages 16 to 31 form part of these financial statements.


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Kellogg Brown & Root (U.K.) Limited

Statement of Financial Position

31 December 2024


		2024	2023
	Note	£000	£000
Current assets
Debtors (including £nil (2023: £1,818,000) due after more than one year)	11	80,100	348,081
Cash at bank		—	1,936
		80,100	350,017
Creditors: amounts falling due within one year	12	(61,290)	(857,974)
Net current assets/(liabilities)		18,810	(507,957)
Total assets less current liabilities		18,810	(507,957)
Defined benefit asset/(liability)	15	61,737	(7,271)
Provisions	13	(8,511)	—
Net assets/(liabilities)		72,036	(515,228)
Capital and reserves
Called up share capital	16	1	1
Capital contribution reserve	17	614,597	27,222
Profit and loss account	17	(542,562)	(542,451)
Members equity/(deficit)		72,036	(515,228)

These financial statements were approved by the board of directors and authorised for issue on 31 July

2025, and are signed on behalf of the board by:

Mr C Jeffs

Director

Company registration number: 02021947

The notes on pages 16 to 30 form part of these financial statements.


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Kellogg Brown & Root (U.K.) Limited

Statement of Changes in Equity

Year ended 31 December 2024


		Called up share capital	Capital contribution reserve	Profit and loss account	Total
	Note	£000	£000	£000	£000
At 1 January 2023		1	23,601	(469,663)	(446,061)
Loss for the year		—	—	(35,699)	(35,699)
Other comprehensive loss for the year:
Remeasurement of the net defined benefit plan	15	—	—	(48,218)	(48,218)
Tax relating to components of other comprehensive income	10	—	—	11,129	11,129
Total comprehensive loss for the year		—	—	(72,788)	(72,788)
Capital contribution	17	—	3,621	—	3,621
Total investments by and distributions to owners		—	3,621	—	3,621
At 31 December 2023		1	27,222	(542,451)	(515,228)
Loss for the year		—	—	(19,401)	(19,401)
Other comprehensive income for the year:
Remeasurement of the net defined benefit plan	15	—	—	25,720	25,720
Tax relating to components of other comprehensive income	10	—	—	(6,430)	(6,430)
Total comprehensive loss for the year		—	—	(111)	(111)
Capital contribution	17	—	587,375	—	587,375
Total investments by and distributions to owners		—	587,375	—	587,375
At 31 December 2024		1	614,597	(542,562)	72,036


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Kellogg Brown & Root (U.K.) Limited

Notes to the Financial Statements

Year ended 31 December 2024

1.General information

The Company is a private company limited by shares and is incorporated and domiciled in the United

Kingdom, and registered in England. The address of the registered office is Hill Park Court, Springfield

Drive, Leatherhead, Surrey, KT22 7NL.

2.Statement of compliance

These financial statements have been prepared in accordance with applicable United Kingdom Accounting

Standards, including Financial Reporting Standard 102, ‘The Financial Reporting Standard applicable in

the United Kingdom and the Republic of Ireland’ (‘FRS 102’) and the Companies Act 2006.

3.Accounting policies

3 (a).Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the recognition of

certain financial assets and liabilities measured at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.

The entity's financial statements are consolidated into the financial statements of KBR, Inc. (incorporated

in the state of Delaware, U.S.A.) which can be obtained from the Public Relations Department, Hill Park

Court, Springfield Drive, Leatherhead, Surrey, KT22 7NL. KBR, Inc.’s financial statements are also

available on its website (www.kbr.com). As such, advantage has been taken of the following disclosure

exemptions available under Section 1 of FRS 102 paragraphs:

1.12 (b) No cash flow statement has been presented for the company.

1.12 (e) No disclosure has been given for the aggregate remuneration of key management personnel.

The entity's financial statements are also consolidated into the financial statements of Kellogg Brown &

Root Holdings Limited (incorporated in England & Wales) which can be obtained from the Public

Relations Department, Hill Park Court, Springfield Drive, Leatherhead, Surrey, KT22 7NL. As such,

advantage has been taken of the following disclosure exemptions available under Section 1 of FRS 102

paragraphs:

1.12(c) Disclosures in respect of financial instruments have not been presented.


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Kellogg Brown & Root (U.K.) Limited

Notes to the Financial Statements (continued)

Year ended 31 December 2024

3 (b).Going Concern