wk-2024-12-31-ixbrl


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Kellogg Brown & Root (Services) Limited

Strategic Report

Year ended 31 December 2024

The director presents her strategic report of the Company for the year ended 31 December 2024.

Principal activities and business review

The Company's principal activity during the year continued to be that of a holding company.

Results

The profit for the year, after taxation, amounted to £164,774 (2023: £184,270). The net assets at the end of

the year totalled £3,538,302 (2023: £3,373,528).

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:

• 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.

Key performance indicators ("KPIs")

The businesses which form this Company make up part of the KBR, Inc. group (“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. KPIs include profit before tax.

For the year ended 31 December 2024 the Company’s profit before tax was £211,361 (2023: £230,338).

This report was approved by the director on 9 December 2025 and signed by:


Ms M D Sutorius - Feijen
Director

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


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Kellogg Brown & Root (Services) Limited

Director’s Report

Year ended 31 December 2024

The director presents her report and the financial statements of the Company for the year ended

31 December 2024.

Director

The director who served the Company during the year was as follows:


Ms M D Sutorius - Feijen

Company secretary

Ms M D Sutorius - Feijen

Dividends

The director does not recommend the payment of a dividend (2023: nil).

Basis other than going concern

The financial statements have been prepared on a basis other than going concern which the director

believes to be appropriate for the following reasons. The management intend to liquidate the Company

once its remaining insignificant investment in the joint venture DirectRoute (Fermoy) Construction Limited

has been liquidated. The joint venture subsidiary has now been dissolved.

The financial statements have been prepared on a basis other than going concern which includes, where

appropriate, writing down the company’s assets to net realisable value. The preparation of financial

statements as per the basis above is a departure from the requirement of FRS102 and company law to

prepare financial statements on a going concern basis. This departure is made in order to comply with the

overriding requirement in the Companies Act 2006 for the financial statements to give a true and fair view.

The director has assessed the entity’s assets for any impairment to be recognised and note that there is no

need to do this as the assets of the Company, apart from the above mentioned insignificant investment in

joint venture, comprise only current assets consisting of receivables from its parent Laurel Financial

Services B.V. and the director is of the opinion that the balance will be recovered without any expected

credit losses incurred. The financial statements do not include any provision for the future costs of

terminating the business. There were no such costs committed or obligations present at the balance sheet

date or as at the date of approval of these financial statements.


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Kellogg Brown & Root (Services) Limited

Director’s Report (continued)

Year ended 31 December 2024

Disclosure of information in the strategic report

The following information can be found in the strategic report on page 1:

• Results

• Principal risks and uncertainties

• Key performance indicators

Events after the end of the reporting period

The joint venture subsidiary, DirectRoute (Fermoy) Construction Limited has been dissolved on 1

September 2025. The Company received EUR 40,601 in January 2025 as part of the closing dividend.

There were no other events after the balance sheet date that require disclosure or impact the Statement of

Comprehensive Income or Statement of Financial Position.

Statement on relevant audit information

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

The auditor, Grant Thornton, will continue in office, unless the directors reasonably resolve otherwise on

the grounds that audited accounts are unlikely to be required, in accordance with Section 485 of the

Companies Act 2006.

This report was approved by the director on 9 December 2025 and signed by:


Ms M D Sutorius - Feijen
Director

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


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Kellogg Brown & Root (Services) Limited

Director's Responsibilities Statement

Year ended 31 December 2024

The director is responsible for preparing the strategic report, the director's report and the financial

statements in accordance with applicable law and regulations.

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

she has elected to prepare the financial statements in accordance with UK accounting standards and

applicable law (UK Generally Accepted Accounting Practice), including FRS 102 The Financial Reporting

Standard applicable in the UK and Republic of Ireland.

Under company law the director must not approve the financial statements unless she is 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 director is required to:

• select suitable accounting policies and then apply them consistently;

• make judgments and estimates that are reasonable and prudent;

• 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

• use 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 (as explained in the Director’s Report, the

director does not believe that it is appropriate to prepare these financial statements on a going concern

basis).

The director is 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 her 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.

This statement was approved by the director on 9 December 2025 and signed by:


Ms M D Sutorius - Feijen
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 (Services) Limited

Opinion

We have audited the financial statements of Kellogg Brown & Root (Services) Limited (the “Company”),

which comprise the Statement of comprehensive income, Statement of financial position and 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 accounting standards issued by the Financial Reporting Council including 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 (Services) 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; and

• 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 departure from the going concern basis of accounting

In forming our opinion on the financial statements, which is not modified, we have considered the

presentation of the financial statements on basis other than going concern, the adjustments arising from

this presentation, and the adequacy of the disclosures made in the Director’s report and in Note 3(a) to the

financial statements. The basis other than going concern has been adopted as the management intends to

liquidate the company once its remaining insignificant investment in the joint venture DirectRoute

(Fermoy) Construction Limited has been liquidated. The joint venture subsidiary has now been dissolved.

No adjustments have been made in these financial statements to reduce assets to their realisable values. The

financial statements do not include any provision for the future cost of terminating the business. There

were no such costs committed or obligations present at the financial statements approval date.


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Independent Auditor's Report to the Member of

Kellogg Brown & Root (Services) Limited (continued)

Other information

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

our auditor’s report thereon, including the Strategic Report and Director’s Report. The director is

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 Director’s Report for the financial year for

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

• the Strategic Report and the Director’s 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

Director’s 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 to be audited are not in agreement with the accounting records and

returns; or

• certain disclosures of director’s 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 (Services) Limited (continued)

Responsibilities of management and those charged with governance for the financial

statements

As explained more fully in the Director’s 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 the director

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, outlined above, 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 (Services) 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 Data Privacy laws and Environmental Regulations, 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. The Audit engagement partner

considered the experience and expertise of the engagement team to ensure that the team had appropriate

competence and capabilities to identify or recognise non-compliance with the laws and regulation. 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;

• inspecting of the company’s regulatory and legal correspondence and review of minutes of board

meetings during the year to corroborate inquiries made;

• gaining an understanding of the entity’s current activities, the scope of authorisation andthe

effectiveness of its controls environment 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,including impairment assessment of investments; 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 (Services) 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’Neil (Senior Statutory Auditor)

For and on behalf of

Grant Thornton

Chartered Accountants & Statutory Auditors

9 December 2025

The notes on pages 13 to 20 form part of these financial statements.


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Kellogg Brown & Root (Services) Limited

Statement of Comprehensive Income

Year ended 31 December 2024


		2024	2023

	Note	£	£
Administrative expenses		(27,946)	(68,669)
Operating loss	4	(27,946)	(68,669)
Interest receivable	6	244,149	300,051
Interest payable	7	(4,842)	(1,044)
Profit before taxation		211,361	230,338
Tax on profit	8	(46,587)	(46,068)
Profit for the financial year		164,774	184,270

All the activities of the Company are from discontinuing operations.

The Company has no other recognised items of income and expenses other than the results for the year as

set out above.

The notes on pages 13 to 20 form part of these financial statements.


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Kellogg Brown & Root (Services) Limited

Statement of Financial Position

31 December 2024


		2024	2023

	Note	£	£
Fixed Assets	9	26	26
Current assets
Debtors	10	3,712,266	3,520,709
Creditors: amounts falling due within one year	11	(173,990)	(147,207)
Net current assets		3,538,276	3,373,502
Total assets less current liabilities		3,538,302	3,373,528
Net assets		3,538,302	3,373,528
Capital and reserves
Called up share capital	13	332,175	332,175
Profit and loss account	14	3,206,127	3,041,353
Shareholders funds		3,538,302	3,373,528

These financial statements were approved by the director and authorised for issue on 9 December 2025,

and are signed by:

Ms M D Sutorius - Feijen

Director

Company registration number: 01218957

The notes on pages 13 to 20 form part of these financial statements.


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Kellogg Brown & Root (Services) Limited

Statement of Changes in Equity

Year ended 31 December 2024


	Note	Called up share capital	Profit and loss account	Total
		£	£	£
At 1 January 2023		332,175	2,857,083	3,189,258
Profit for the financial year		—	184,270	184,270
Total comprehensive income for the financial year		—	184,270	184,270
At 31 December 2023		332,175	3,041,353	3,373,528
Profit for the financial year		—	164,774	164,774
Total comprehensive income for the financial year		—	164,774	164,774
At 31 December 2024		332,175	3,206,127	3,538,302


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Kellogg Brown & Root (Services) Limited

Notes to the Financial Statements

Year ended 31 December 2024

1.General information

Kellogg Brown & Root (Services) Limited is a company limited by shares and incorporated in the UK, but

managed and controlled in the Netherlands. Its tax domicile is therefore in the Netherlands. 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 compliance with FRS 102, 'The Financial Reporting

Standard applicable in the UK and the Republic of Ireland, and with the Companies Act of 2006.

3.Accounting policies

3 (a)Basis of preparation

The financial statements have been prepared on the historical cost basis.

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. 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(c) The requirements of Basic Financial Instruments and Other Financial Instruments Issues

paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b), 11.48(c), 12.26 (in

relation to those cross-referenced paragraphs from which a disclosure exemption is available), 12.27,

12.29(a), 12.29(b), and 12.29A provided disclosures equivalent to those required by this FRS are

included in the consolidated financial statements of the group in which the entity is consolidated.

1.12(e) The requirement of paragraph 33.7 Related Party Disclosures requiring disclosure of key

management personnel compensation in totality.

Basis other than going concern

The financial statements have been prepared on a basis other than going concern which the director

believes to be appropriate for the following reasons.

The management intends to liquidate the Company once its remaining insignificant investment in the joint

venture DirectRoute (Fermoy) Construction Limited has been liquidated. The joint venture subsidiary has

now been dissolved. The Company received EUR 40,601 in January 2025 as part of the closing dividend.


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Kellogg Brown & Root (Services) Limited

Notes to the Financial Statements (continued)

Year ended 31 December 2024

3 (a)Basis of preparation (continued)

The financial statements have been prepared on a basis other than going concern which includes, where

appropriate, writing down the Company’s assets to net realisable value. The preparation of financial

statements on a break-up basis is a departure from the requirement of FRS102 and company law to prepare

financial statements on a going concern basis. This departure is made in order to comply with the