MCDERMOTT ENERGY SOLUTIONS (UK) LIMITED
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Next accounts due
2025-12-31
Overdue
Confirmation statement due
2027-05-07 (in 1y)
Last made up 2026-04-23
Watchouts
Cash
£3M
-73.2% vs 2022
Net assets
-£127M
-194.2% vs 2022
Employees
228
+14% vs 2022
Profit before tax
-£33M
-2,064% vs 2022
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Annual accounts overdue
Due 2025-12-31.
-
3 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
Name history
Renamed 4 times since incorporation — the current trading name was adopted 2025-02-14
- MCDERMOTT ENERGY SOLUTIONS (UK) LIMITED 2025-02-14 → present
- CB&I UK LIMITED 2006-06-28 → 2025-02-14
- CB&I JOHN BROWN LIMITED 2003-06-02 → 2006-06-28
- CBI JB LIMITED 2003-03-28 → 2003-06-02
- STATUSACTUAL LIMITED 2002-05-14 → 2003-03-28
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · latest reflected 2023-12-31
| Metric | Trend | 2022-12-31 | 2023-12-31 |
|---|---|---|---|
| Turnover | £122,829,000 | £177,615,000 | |
| Operating profit | -£3,318,000 | -£35,216,000 | |
| Profit before tax | -£1,504,000 | -£32,547,000 | |
| Net profit | -£2,985,000 | -£33,402,000 | |
| Cash | £10,736,000 | £2,872,000 | |
| Total assets less current liabilities | — | — | |
| Net assets | £134,656,000 | -£126,843,000 | |
| Equity | £134,656,000 | -£126,843,000 | |
| Average employees | 200 | 228 | |
| Wages | £24,265,000 | £28,298,000 |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2022-12-31 | 2023-12-31 |
|---|---|---|---|
| Operating margin | -2.7% | -19.8% | |
| Net margin | -2.4% | -18.8% | |
| Current ratio | 1.17x | 1.02x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Company's Financial Statements have been prepared assuming that the Company will continue as a going concern and contemplates the realisation of assets and satisfaction of liabilities in the normal course of business. The Company's Directors have considered the principal risks and uncertainties affecting the Company when evaluating the Company's ability to continue as a going concern for the period to 30 April 2026. The Company's Directors continue to adopt the going concern basis in preparing the financial statements.”
Group structure
- MCDERMOTT ENERGY SOLUTIONS (UK) LIMITED · parent
- John Brown Kish LLC 100%
- CB&I Houston LLC 100%
- CB&I Houston 06 LLC 100%
- CB&I Houston 07 LLC 100%
- CB&I Houston 08 LLC 100%
- CB&I Houston 09 LLC 100%
- CB&I Houston 10 LLC 100%
- CB&I Houston 11 LLC 100%
- CB&I Houston 12 LLC 100%
- CB&I Houston 13 LLC 100%
- CB&I Global LLC 100%
- CB&I Group UK Holdings 100%
- CB&I Group UK Ltd 100%
- Shaw Power Arabia 90%
Significant events
- “On 14th February 2025, the Company changed its name from CB&I UK Limited to McDermott Energy Solutions (UK) Limited.”
- “In August 2023, the trustees of the Shaw Group UK 1997 Pension Scheme entered into a bulk annuity policy (a full buy-in) with Legal & General for a premium of £21.3m.”
- “In December 2023, the trustees of the CB&I John Brown Pension Scheme and the Shaw (S&W) Pension Plan entered into a bulk annuity policy with Aviva for a premium of £79.9m and £59.5m respectively.”
- “During 2023, the Reficar arbitration tribunal issued an award resulting in total liability of $1.3 billion (£1 billion) for McDermott Energy Solutions (UK) Limited... As a result, the Reficar liability has been discharged and therefore no provision was recognised in McDermott Energy Solutions (UK) Limited 2023 financial statements.”
- “On 27th February 2024 the Restructuring Plan was sanctioned by the English court.”
- “As part of the Restructure Plan, the Company entered into a Deed of Contribution... The Deed of Contribution was terminated in June 2024 after the approval and implementation of the Restructuring Plan and released the Company from its liability.”
- “The Company is aware of a recent High court ruling, Virgin Media Limited v NTL Pension Trustees Limited which relates to the validity of Section 37 confirmations for amendments to contracted out defined benefit pension schemes between 6 April 1997 and 5 April 2016... The ruling has been upheld in a Court of Appeal on 25 July 2024.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 50 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| GHAZAVI, Mikael, Mr. | Secretary | 2026-04-27 | — | — |
| FARSHNESHANI, Sara, Ms. | Director | 2026-02-09 | Dec 1969 | British |
| SHAUL, Robert Nigel, Mr. | Director | 2024-07-08 | Apr 1967 | British |
Show 50 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BATEMAN, Robert Dennis | Secretary | 2007-09-05 | 2008-02-20 |
| BRAND, Dennis Reginald | Secretary | 2003-06-25 | 2004-05-01 |
| CHILD, Katherine Lindsay | Secretary | 2008-02-20 | 2012-12-17 |
| GIN, Anita | Secretary | 2002-05-31 | 2003-03-20 |
| KITTS, Jason | Secretary | 2018-07-26 | 2020-12-24 |
| KOZANHAN, Zeynep, Ms. | Secretary | 2020-12-24 | 2026-04-27 |
| MORRIS, Piers | Secretary | 2004-05-01 | 2007-09-05 |
| MORRIS, Piers | Secretary | 2003-03-20 | 2003-06-25 |
| STEPHENSON, Jonathan Paul | Secretary | 2012-12-17 | 2018-07-26 |
| SWIFT INCORPORATIONS LIMITED | Corporate Nominee Secretary | 2002-05-14 | 2002-05-31 |
| ASHERMAN, Philip Kent | Director | 2004-10-14 | 2016-10-14 |
| ASHERMAN, Philip Kent | Director | 2003-05-16 | 2003-06-25 |
| ASTIN, Colin Laurence | Director | 2003-06-25 | 2006-07-28 |
| BENNETT, Peter Kenway | Director | 2004-10-14 | 2009-08-05 |
| BENNETT, Peter Kenway | Director | 2003-03-20 | 2003-06-25 |
| BLACK, Alan Robert | Director | 2004-05-01 | 2006-07-03 |
| BLACK, Alan Robert | Director | 2003-06-25 | 2004-03-01 |
| BLUM, Ronald Edward | Director | 2003-06-25 | 2004-03-01 |
| BOWMAN, Neil Paul | Director | 2019-12-06 | 2021-12-22 |
| BRAND, Dennis Reginald | Director | 2003-06-25 | 2003-12-31 |
| BRANTLEY, Michael Travis, Mr. | Director | 2021-12-22 | 2022-09-15 |
| BRANTLEY, Travis Michael | Director | 2019-03-15 | 2021-06-08 |
| BROWNING, Walter Graham | Director | 2004-10-14 | 2008-04-11 |
| BUDD, Frazer Grenville | Director | 2016-07-01 | 2019-12-06 |
| CARNE-ROSS, Andrew James | Director | 2009-08-05 | 2018-06-29 |
| CHANDLER JR, Richard Edwin | Director | 2011-06-30 | 2016-10-14 |
| CLEAVER, Antony Michael | Director | 2011-10-27 | 2015-05-14 |
| CORBRIDGE, Ian | Director | 2003-06-25 | 2003-12-31 |
| DELMAN, David | Director | 2008-04-11 | 2010-10-12 |
| FORDER, Kevin James | Director | 2006-01-09 | 2017-07-15 |
| GIN, Anita | Director | 2002-05-31 | 2003-03-20 |
| GLENN, Gerald Marvin | Director | 2004-10-14 | 2006-05-02 |
| GOODRICH, Richard | Director | 2003-05-16 | 2003-06-25 |
| HAWLEY, Barry Stephen | Director | 2015-05-14 | 2018-09-08 |
| JONES, David | Director | 2002-05-31 | 2003-03-20 |
| JOSHI, Ashok | Director | 2018-10-08 | 2026-02-09 |
| KAWASH, Tareq | Director | 2018-10-08 | 2022-11-01 |
| KING, David | Director | 2006-06-27 | 2008-04-11 |
| MACPHEE, Duncan | Director | 2003-06-25 | 2007-11-30 |
| MCADORY, James | Director | 2003-06-25 | 2004-03-01 |
| MEAD, Graham Robert | Director | 2003-06-25 | 2003-08-31 |
| MORAN, Tim John Patrick | Director | 2003-03-20 | 2003-06-25 |
| MORAN, Timothy James | Director | 2018-10-08 | 2019-03-15 |
| MORAN, Timothy John Patrick | Director | 2006-06-27 | 2009-08-05 |
| SHEACH, Lynn Ann | Director | 2012-03-20 | 2022-03-03 |
| STRICKER, Travis | Director | 2009-08-05 | 2011-06-30 |
| SWAMINATHAN, Suresh, Mr. | Director | 2022-09-15 | 2023-06-01 |
| VAN ELVEN, Barry Robert, Mr. | Director | 2023-06-01 | 2026-03-01 |
| WIGNEY, Duncan Neal | Director | 2007-11-30 | 2018-05-23 |
| INSTANT COMPANIES LIMITED | Corporate Nominee Director | 2002-05-14 | 2002-05-31 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mcdermott Holdings 2 Limited | Corporate entity | Shares 75–100% | 2020-06-30 | Active |
| Mcdermott International Inc. | Corporate entity | Shares 75–100%, Voting 75–100% | 2018-05-10 | Ceased 2020-01-22 |
| Chicago Bridge & Iron Company N.V. | Corporate entity | Shares 75–100%, Voting 75–100% | 2016-04-06 | Ceased 2018-05-10 |
Filing timeline
Last 20 of 243 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-02-14 CERTNM Certificate change of name company PDF
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-01 | TM02 | officers | Termination secretary company with name termination date | |
| 2026-05-01 | AP03 | officers | Appoint person secretary company with name date | |
| 2026-04-27 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-04-18 | TM01 | officers | Termination director company with name termination date | |
| 2026-02-18 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-10 | TM01 | officers | Termination director company with name termination date | |
| 2025-06-11 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-05-09 | AD01 | address | Change registered office address company with date old address new address | |
| 2025-05-09 | AD01 | address | Change registered office address company with date old address new address | |
| 2025-05-02 | AA | accounts | Accounts with accounts type full | |
| 2025-05-02 | AD01 | address | Change registered office address company with date old address new address | |
| 2025-02-14 | CERTNM | change-of-name | Certificate change of name company | |
| 2024-08-24 | AA | accounts | Accounts with accounts type full | |
| 2024-07-31 | AP01 | officers | Appoint person director company with name date | |
| 2024-06-04 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-03-27 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-03-07 | OC-R | liquidation | Legacy | |
| 2024-03-02 | AD01 | address | Change registered office address company with date old address new address | |
| 2024-01-30 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2023-08-24 | PSC05 | persons-with-significant-control | Change to a person with significant control |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 11
- Capital events
- 0
- Officers appointed
- 2
- Officers resigned
- 3
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.
Year-on-year
FY2022 → FY2023 · period ending 2023-12-31 vs 2022-12-31
-
Turnover
+44.6%
£122,829,000 £177,615,000
-
Cash
-73.2%
£10,736,000 £2,872,000
-
Net assets
-194.2%
£134,656,000 -£126,843,000
-
Employees
+14%
200 228
-
Operating profit
-961.4%
-£3,318,000 -£35,216,000
-
Profit before tax
-2,064%
-£1,504,000 -£32,547,000
-
Wages
+16.6%
£24,265,000 £28,298,000
Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers