Company No: SC548889 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	264,415		272,240
Investment property	4	210,828		150,000
		475,243		422,240
Current assets
Stocks		1,605		1,500
Debtors	5	128,660		295,227
Cash at bank and in hand		20,108		50
		150,373		296,777
Creditors: amounts falling due within one year	6	( 130,260)		( 124,451)
Net current assets		20,113		172,326
Total assets less current liabilities		495,356		594,566
Creditors: amounts falling due after more than one year	7	( 315,830)		( 332,256)
Provision for liabilities		( 28,662)		( 30,478)
Net assets		150,864		231,832
Capital and reserves
Called-up share capital	8	10		10
Revaluation reserve		86,429		86,429
Profit and loss account		64,425		145,393
Total shareholders' funds		150,864		231,832

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Duigan Chiropractic Ltd (registered number: SC548889) were approved and authorised for issue by the Board of Directors on 19 September 2025. They were signed on its behalf by:

Dr A Clark Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Duigan Chiropractic Ltd. (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 30 Edinburgh Road, Perth, PH2 8BX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover is recognised when clients receive chiropractic and massage therapy services.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
	50 years straight line
Plant and machinery etc.	4 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Investment property

Investment property is recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are 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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	7		8

3. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 November 2023	276,966		34,668		311,634
Additions	0		742		742
Disposals	0		( 1,299)		( 1,299)
	0		0		0
At 31 October 2024	276,966		34,111		311,077
Accumulated depreciation
At 01 November 2023	15,867		23,527		39,394
Charge for the financial year	3,539		5,028		8,567
Disposals	0		( 1,299)		( 1,299)
	0		0		0
At 31 October 2024	19,406		27,256		46,662
Net book value
At 31 October 2024	257,560		6,855		264,415
At 31 October 2023	261,099		11,141		272,240

4. Investment property

	Investment property
	£
Valuation
As at 01 November 2023	150,000
Additions	60,828
As at 31 October 2024	210,828

Valuation

The fair value of the investment property has been arrived at on the basis of a valuation carried out on 31 October 2024 by the directors. The valuation was made on an open market basis by reference to market evidence of the transaction prices for similar properties.

5. Debtors

	2024		2023
	£		£
Trade debtors	6,579		8,210
Other debtors	122,081		287,017
	128,660		295,227

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans and overdrafts	20,690		25,758
Trade creditors	5,661		0
Amounts owed to related parties	53,658		0
Taxation and social security	30,208		74,435
Other creditors	20,043		24,258
	130,260		124,451

Included within Bank loans and overdrafts is a loan advanced to the company under the bounce back loan scheme of £10,353 (2023 - £10,098). This loan is covered by a government backed guarantee.

Also included within Bank loans and overdrafts is a mortgage secured over the property owned by the company of £6,110 (2023 - £5,727).

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	315,830		332,256

Included within Bank loans is a loan advanced to the company under the bounce back loan scheme of £6,202 (2023 - £16,517). This loan is covered by a government backed guarantee.

Also included within Bank loans and overdrafts is a mortgage secured over the property owned by the company of £309,628 (2023 - £315,739).

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2024		2023
	£		£
Bank loans (repayable by instalments)	280,819		288,735

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 0.10 each	10		10

9. Financial commitments

Other financial commitments

	2024		2023
	£		£
Total commitments under non-cancellable operating leases not provided for in the accounts	35,089		64,710

10. Related party transactions

Transactions with the entity's directors

Advances

The company offers loans to the directors. In this period £204,597 was advanced to directors and £161,657 repaid. Interest of £1,908 was charged on these advances at a rate of 2.25%. The balance owed by the directors to the company at 31 October 2024 was £120,514 (2023 - the balanced owed by the directors to the company was £75,666).

This loan is unsecured and has been repaid within nine months of the balance sheet date.

Other related party transactions

	2024		2023
	£		£
Amounts owed by Entities with joint control	0		205,658
Amounts owed to Entities with joint control	53,658		0

This amount is unsecured, interest free and has no fixed terms of repayment.