I don't know if these are good UK strategies, but I am still in the game
You can't win the war by yourself, so don't even try

recognise what is valuable and what isn't, and defend what is to the death.
Gain sea superiority as quickly as possible, or at least bottle up the Kriegsmarine in the Baltic. Then reinforce Med to facilitate cutting off Italian landings in Africa and Italian steel supply.
Reinforce N. Africa with a small mobile group (1 arm, 2 mot). These can be landed any beach in N. Africa and zoom through undefended coastal prov. Just remember to supply landing beach immediately.
From '36 - '38 You cannot do only research, you will need units in different places at different times. Try to always be building 2 or 3 things at a time, usually things that auto- or never upgrade (mot, mec, inf, and trans), though you might want to build the odd unit that you know will be obsolete in a year (older tanks with upgrades are quite effective in the plains against Japanese inf.). You can also build Basic aircraft types, since you will not likely research Improved types until a while after the war begins, and you will need some fighters sooner than that.
USA can afford to do all research and then if war breaks out, stop all research and crank out 50+ divisions (of mixed types) in 6 months or less. UK could only achieve some 20+ divisions with this tactic, not worth 6 months of no research. So if you want adequate defenses when war breaks out, you will have to trade IC's for time and start building early.
Also for first 2 years, improve industry in all prov that start with 1-3 industry, and put up some coastal defences in England, lvl 1 coastal fort, lvl 1-2 AA, 1-2 inf. Also keep a mobile reaction force centrally located in England.
Calcutta is of #1 importance, both from a resource and strategic standpoint. You get more rubber from Singapore and such, but they are not nearly as defensible, and are vulnerable to supply interdiction. India can be supplied from Karachi, a long way for the IJN to go. India is also vital as a staging area for UK Pacific fleet. Don't bother adding extra defence to anything east of Calcutta, keeping Calcutta, the prov N. of it, and the mountains NE well defended (You may want to add a little D to Singapore and Hong Kong, but it will only slow the Japs down)
North Africa is far less important from a resource standpoint. (If you are worried about Iraqi oil, park some good troops there). Strategically, Gibraltar is vital, as is Suez Canal. Rest of N. Africa good for keeping Italians from Ethiopian steel, as well as some industry.
Again, I can't stress building units as well as research. If you have no extra units when war breaks out, you WILL lose India and N.Africa, whereas Italy and Japan have enough troops at the start to take these areas.
As far as convoy defense goes, don't worry about it. Unless using large surface raider groups or 'super stacks' of subs, all the Axis can do is cause you to spend more time managing convoys (sorry DieFledermas, but I have 700 more convoy transports than when I started the game

)
Researchwise, pick a model type and stick with it. MR fighters give the best range/firepower/defense balance for the money.
Don't bother with any light bombers, stick to tac and naval.
I personally don't like to build str. bombers, too expensive. Likewise, pick a tank type and stick with it. You don't have IC's to throw at different variants.
Keep infantry techs up, you can be sure Germany and Japan will have very good inf. Yours may not be quite as good, but you will be on the defensive for the first part of the war, so terrain, weather, and the occasional hidden reserve thrown into the fray can even the balance, or even tip the scales in your favor.
Naval is not as important, since by the time the Japanese have a significant tech advantage, they're not worried about you anymore, and you should still have a good tech (and numbers) advantaage over the Germans and Italians.
Artillery techs are good, go for the ones that provide auto-upgrades to all inf and arm (don't bother with brigades, they are too expensive, maybe use them later in war when they provide more bang for the buck and your manpower is low.
Doctrines, doctrines, doctrines. These will guarantee that, although your equipment is inferior, you will stay in the fight longer, get your enemies' org lower, and slow his advances. Judging from my experiences as Germany, in the same time period, UK inf has attack and def values 2 pts. avg. lower than German units, but similar org. (both as me, not AI) So a combination of defensive tactics, air support, and weather can even the score.
Remember above all else - you CANNOT win the war by yourself, so don't try. Just holding what you have until USSR or USA enters the war will make the Axis' cornflakes soggy

and any small annoyance attacks you can make are gravy. (If you can reduce the IJN, USA can throw more stuff at Germany)