Company registration number SC686190 (Scotland)
J-TEQ EMS HOLDINGS TWO LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
J-TEQ EMS HOLDINGS TWO LTD
Contents
Page
Accountants' report
1
Statement of financial position
2
Notes to the financial statements
3 - 5
J-TEQ EMS HOLDINGS TWO LTD
Report To The Director On The Preparation Of The Unaudited Statutory Accounts Of J-Teq Ems Holdings Two Ltd
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of J-TEQ EMS Holdings Two Ltd for the year ended 31 December 2023 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts

This report is made solely to the Board of Directors of J-TEQ EMS Holdings Two Ltd, as a body, in accordance with the terms of our engagement letter dated 8 July 2021. Our work has been undertaken solely to prepare for your approval the financial statements of J-TEQ EMS Holdings Two Ltd and state those matters that we have agreed to state to the Board of Directors of J-TEQ EMS Holdings Two Ltd, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J-TEQ EMS Holdings Two Ltd and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that J-TEQ EMS Holdings Two Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of J-TEQ EMS Holdings Two Ltd. You consider that J-TEQ EMS Holdings Two Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of J-TEQ EMS Holdings Two Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Condie & Co Limited
21 August 2024
Chartered Accountants
10 Abbey Park Place
Dunfermline
Fife
KY12 7NZ
J-TEQ EMS HOLDINGS TWO LTD
Statement Of Financial Position
As At 31 December 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
4
7
7
Current assets
Debtors
6
4,527
13,145
Cash at bank and in hand
83
559
4,610
13,704
Creditors: amounts falling due within one year
7
(4,510)
(13,605)
Net current assets
100
99
Net assets
107
106
Capital and reserves
Called up share capital
8
7
7
Profit and loss reserves
100
99
Total equity
107
106

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 21 August 2024
Mr J D Shaw
Director
Company Registration No. SC686190
J-TEQ EMS HOLDINGS TWO LTD
Notes To The Financial Statements
For The Year Ended 31 December 2023
- 3 -
1
Accounting policies
Company information

J-TEQ EMS Holdings Two Ltd is a private company limited by shares incorporated in Scotland. The registered office is 1 George Square, Castle Brae, Dunfermline, KY11 8QF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.3
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position 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 debtors 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 transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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.

J-TEQ EMS HOLDINGS TWO LTD
Notes To The Financial Statements (Continued)
For The Year Ended 31 December 2023
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.

 

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

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.4
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
7
7
J-TEQ EMS HOLDINGS TWO LTD
Notes To The Financial Statements (Continued)
For The Year Ended 31 December 2023
- 5 -
5
Subsidiaries

Details of the company's subsidiaries at 31 December 2023 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
J-TEQ EMS Holdings Ltd
1 George Square, Castle Brae, Dunfermline, Fife
Ordinary
100.00
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
4,527
13,145
7
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
2,200
12,105
Accruals and deferred income
2,310
1,500
4,510
13,605
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A Shares of 1p each
350
350
3
3
Ordinary B Shares of 1p each
350
350
4
4
700
700
7
7

The issued "A" Ordinary shares and issued "B" Ordinary shares rank pari passu with each other except that the director of the company may resolve to declare a dividend on one or more classes of share.

9
Related party transactions

The company has taken advantage of Section 1AC35 of FRS 102 whereby only material transactions which are not under the normal market conditions need to be disclosed.

 

The company has taken advantage of Section 33.1A of FRS102 whereby only transactions which are not with wholly owned members of a group need to be disclosed.

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