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Company registration number:
SC438375
Cathay (UK) Limited
Unaudited Filleted Financial Statements for the year ended
31 December 2024
Cathay (UK) Limited
Statement of Financial Position
31 December 2024

|  | 2024 | 2023
--- | --- | --- | ---
| Note | £ | £
Fixed assets |  |  |  |  |
Tangible assets | 5 | 142,200 |  | 142,200 |
Current assets |  |  |  |  |
Debtors | 6 | (109 | ) | (109 | )
Creditors: amounts falling due within one year | 7 | (4,944 | ) | (4,944 | )
Net current liabilities |  | (5,053 | ) | (5,053 | )
Total assets less current liabilities |  | 137,147 |  | 137,147 |
Creditors: amounts falling due after more than one year | 8 | (144,000 | ) | (144,000 | )
Net liabilities |  | (6,853 | ) | (6,853 | )
Capital and reserves |  |  |  |  |
Profit and loss account |  | (6,853 | ) | (6,853 | )
Shareholders deficit |  | (6,853 | ) | (6,853 | )

For the year ending
31 December 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
These
financial statements
were approved by the board of directors and authorised for issue on
9 February 2026
, and are signed on behalf of the board by:

X Liao
Director

Company registration number:
SC438375
Cathay (UK) 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 registered in Scotland. The address of the registered office is
21 Meadowhill
,
Newton Mearns
,
Glasgow
,
G77 6SZ
, United Kingdom.

## 2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

## 3 Accounting policies

## Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

## Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

## Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

## Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

## 4 Average number of employees

The average number of persons employed by the company during the year was nil (2023:
1
).

## 5 Tangible assets

| Plant and machinery etc.
--- | ---
| £
Cost |  |
At 1 January 2024 and 31 December 2024 | 142,200 |
Depreciation |  |
At 1 January 2024 and 31 December 2024 | - |
Carrying amount |  |
At 31 December 2024 | 142,200 |
At 31 December 2023 | 142,200 |

## 6 Debtors

| 2024 | 2023
--- | --- | ---
| £ | £
Trade debtors | (109 | ) | (109 | )

## 7 Creditors: amounts falling due within one year

| 2024 | 2023
--- | --- | ---
| £ | £
Trade creditors | 2,194 |  | 2,194 |
Other creditors | 2,750 |  | 2,750 |
| 4,944 |  | 4,944 |

## 8 Creditors: amounts falling due after more than one year

| 2024 | 2023
--- | --- | ---
| £ | £
Trade creditors | 144,000 |  | 144,000 |