REGISTERED NUMBER: 09903581 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

CITIC Construction (UK) Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

T Teng

REGISTERED OFFICE:

9 St. Clare Street,

London

EC3N 1LQ

REGISTERED NUMBER:

09903581 (England and Wales)

AUDITORS:

Shinewing Wilson Accountancy Limited

Chartered Certified Accountants

and Statutory Auditors

9 St Clare Street

London

EC3N 1LQ

FIXED ASSETS

Tangible assets

4

-

1,051

CURRENT ASSETS

Debtors: amounts falling due within one year

5

33,393

81,924

Cash at bank

32,313

57,844

65,706

139,768

CREDITORS

Amounts falling due within one year

6

6,907,808

6,005,672

NET CURRENT LIABILITIES

(6,842,102

)

(5,865,904

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(6,842,102

)

(5,864,853

)

PROVISIONS FOR LIABILITIES

-

200

NET LIABILITIES

(6,842,102

)

(5,865,053

)

CAPITAL AND RESERVES

Called up share capital

300,000

300,000

Retained earnings

(7,142,102

)

(6,165,053

)

SHAREHOLDERS' FUNDS

(6,842,102

)

(5,865,053

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 September 2025 and were signed by:

T Teng - Director

1.	STATUTORY INFORMATION

CITIC Construction (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

During the company incurred a loss before tax of £977k and had net current liabilities of £6.8 million as at the balance sheet date mainly due to the amount owed to the immediate parent company which no immediate repayment is instructed, furthermore the immediate parent company, CITICC International Investment Limited has confirmed that the financial support will remain available for at least 12 months from the date of signing these financial statements. Based on this, the directors have concluded that the company has adequate resources to continue in its operational existence. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Comparative figures

Certain comparative figures have been restated where necessary to conform with current period presentation.

Revenue

Turnover comprises the fair value of the consideration received or receivable for the sale of services in the ordinary course of business. Turnover is shown net of value added tax, rebates and discounts.

Consultancy fees are recognised over the period of time during which the services are provided.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method:

Fixture and fitting - 25% on cost

Computer equipment- 25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, and loans from group undertakings, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest method.

Share capital

Financial instruments issued by the company are classified as equity only to the extent that they do not meet the definition of a financial liability or financial asset.

The company's ordinary shares are classified as equity instruments.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 6 ).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

1,218

3,769

4,987

Disposals

(1,218

)

(3,769

)

(4,987

)

At 31 December 2024

-

-

-

DEPRECIATION

At 1 January 2024

757

3,179

3,936

Charge for year

218

189

407

Eliminated on disposal

(975

)

(3,368

)

(4,343

)

At 31 December 2024

-

-

-

NET BOOK VALUE

At 31 December 2024

-

-

-

At 31 December 2023

461

590

1,051

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

33,393

81,924

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

1,068

5,514

Amounts owed to group undertakings

6,876,155

5,998,745

Taxation and social security

9,344

-

Other creditors

21,241

1,413

6,907,808

6,005,672

Amounts owed to group undertakings were made of the followings:

Loan of £5,796,733 (2023: £5,796,733) are unsecured and repayable on demand, bearing interest at 8% per annum, total accrued interest of £665,751 (2023: £202,012), interest of £463,739 (2023: £202,012) was recognised in the profit or loss account during the year.

Loan of £400,000 (2023:nil) are unsecured and repayable on demand, bearing interest at 5% per annum, interest of £13,671 (2023: nil) was recognised in the profit or loss account during the year.

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nijendra Dhungana FCCA (Senior Statutory Auditor)

for and on behalf of Shinewing Wilson Accountancy Limited

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9.	ULTIMATE CONTROLLING PARTY

The immediate parent company is CITICC International Investment Limited, a company registered in Hong Kong, by virtue of their shareholding.

The ultimate controlling party is the Ministry of Finance of the People's Republic of China.

The smallest and largest undertaking for which the company is a member and for which group financial statements are prepared is the company's intermediate parent company CITIC Limited, a company registered in Hong Kong and listed on the Hong Kong Stock Exchange. Copies of the consolidated financial statements can be obtained from their registered office, 32nd Floor, CITIC Tower, 1 Tim Mei Avenue, Central, Hong Kong or from their website: www.citic.com.