Company Registration No. 05304654 (England and Wales)
Giant Finance + Limited
Financial statements
for the year ended 31 May 2025
Pages for filing with the registrar
Giant Finance + Limited
Contents
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 9
Giant Finance + Limited
Statement of financial position
As at 31 May 2025
1
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
18,979
24,466
Current assets
Debtors
5
9,683,393
10,642,240
Cash at bank and in hand
327,057
243,117
10,010,450
10,885,357
Creditors: amounts falling due within one year
6
(8,000,744)
(8,142,822)
Net current assets
2,009,706
2,742,535
Total assets less current liabilities
2,028,685
2,767,001
Provisions for liabilities
7
(4,041)
(3,555)
Net assets
2,024,644
2,763,446
Capital and reserves
Called up share capital
8
80,000
80,000
Profit and loss reserves
1,944,644
2,683,446
Total equity
2,024,644
2,763,446

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

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 by the board of directors and authorised for issue on 14 October 2025 and are signed on its behalf by:
Alison Small
Director
Company Registration No. 05304654
Giant Finance + Limited
Statement of changes in equity
For the year ended 31 May 2025
2
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 June 2023
80,000
3,132,923
3,212,923
Year ended 31 May 2024:
Profit and total comprehensive income
-
885,230
885,230
Dividends
-
(1,334,707)
(1,334,707)
Balance at 31 May 2024
80,000
2,683,446
2,763,446
Year ended 31 May 2025:
Profit and total comprehensive income
-
597,774
597,774
Dividends
-
(1,336,576)
(1,336,576)
Balance at 31 May 2025
80,000
1,944,644
2,024,644
Giant Finance + Limited
Notes to the financial statements
For the year ended 31 May 2025
3
1
Accounting policies
Company information

Giant Finance + Limited is a private company limited by shares incorporated in England and Wales. The registered office is Festival House, Jessop Avenue, Cheltenham, England, GL50 3SH.

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 a mounts 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
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover
Turnover is derived from the company's ordinary activities and represents firstly invoicing for sales of services and secondly charges for invoice discounting, net of value added tax.

Revenue from the provision of services is recognised at the point the service has been performed. Revenue from the provision of invoice discounting is recognised in the period to which the discounting took place.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

The below categories are included with property, plant and equipment within note 5.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer software and hardware
4 to 7 years on cost
Fixtures and fittings
3 to 10 years on cost
Telecoms equipment
5 years 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.

1.5
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Giant Finance + Limited
Notes to the financial statements (continued)
For the year ended 31 May 2025
1
Accounting policies (continued)
4
1.6
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, 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.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 creditors and bank loans, 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 paymen ts 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. A m ounts 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.7
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.

Giant Finance + Limited
Notes to the financial statements (continued)
For the year ended 31 May 2025
1
Accounting policies (continued)
5
1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

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

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

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

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Giant Finance + Limited
Notes to the financial statements (continued)
For the year ended 31 May 2025
1
Accounting policies (continued)
6
1.13
Invoice discounting

Amounts due in respect of invoice discounting are separately disclosed as current liabilities. The client can use these facilities to draw down on a percentage of the value of approved sales invoices. The management and collection of trade debtors remains with the company but the risk of uncollectable debt remains with the client.

2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are 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.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Bad debt provision

The directors make provisions for doubtful debts primarily based o n an assessment of the recoverability of overdrawn client balances. The directors specifically analyse customer creditworthiness, changes in customer payment terms, relevant credit insurance cover and current economic trends when evaluating the recoverability of customer balances, and as such the adequacy of the provision.

The carrying amount of the bad debt provision at the year end was £335,149 (2024: £319,682).

3
Employees

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

2025
2024
Number
Number
Total
21
23
Giant Finance + Limited
Notes to the financial statements (continued)
For the year ended 31 May 2025
7
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2024 and 31 May 2025
550,647
Depreciation and impairment
At 1 June 2024
526,181
Depreciation charged in the year
5,487
At 31 May 2025
531,668
Carrying amount
At 31 May 2025
18,979
At 31 May 2024
24,466
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
9,605,704
10,570,519
Corporation tax recoverable
951
-
0
Amounts owed by group undertakings
-
0
1,278
Other debtors
76,738
70,443
9,683,393
10,642,240

At 31 May 2025, £9,940,844 (2024: £10,866,129) of trade debtor balances were subject to an invoice discounting arrangement.

A provision for doubtful debts has been recognised against trade debtor balances to reflect estimated irrecoverable amounts. At the reporting date, the total bad debt provision amounted to £335,149 (2024: £319,682), based on a review of aged receivables and historical loss experience.

6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
3,740,766
4,420,312
Corporation tax
-
0
9,932
Other taxation and social security
125,801
145,272
Other creditors
4,134,177
3,567,306
8,000,744
8,142,822
Giant Finance + Limited
Notes to the financial statements (continued)
For the year ended 31 May 2025
6
Creditors: amounts falling due within one year (continued)
8

Included within other creditors above is a balance of £3,408,421 (2024: £2,781,147) relating to an invoice discounting arrangement which is subject to a debenture over the assets of the company held by Royal Bank of Scotland Invoice Financing Limited, the company's finance provider registered at Companies House on 17 January 2012.

The company has a fixed and floating charge over the property and assets present and future of the company dated 12 December 2011 and 17 January 2012, in favour of The Royal Bank of Scotland Plc.

The immediate parent, Giant Finance Holdings Limited, also holds a cross guarantee with the Royal Bank of Scotland Invoice Financing Limited.

7
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
4,041
3,555
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
80,000
80,000
80,000
80,000
9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Diane Petit-Laurent FCA
Statutory Auditors:
Saffery LLP
Date of audit report:
14 October 2025
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
14,118
66,180
Giant Finance + Limited
Notes to the financial statements (continued)
For the year ended 31 May 2025
9
11
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Sales
Sales
Purchases
Purchases
2025
2024
2025
2024
£
£
£
£
Other related parties
9,157
5,533
259,489
275,828
Management charge
Interest expense
2025
2024
2025
2024
£
£
£
£
Other related parties
155,834
134,714
-
31,818

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due to related parties
£
£
Other related parties
648
61

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due from related parties
£
£
Other related parties
8,603
-
12
Parent company

The company's immediate parent company is Giant Finance Holdings Limited whose registered office address is Festival House, Jessop Avenue, Cheltenham, Gloucestershire, England, GL50 3SH. Its ultimate parent company is Giant Finance plc whose registered office address is Festival House Jessop Avenue, Cheltenham, England, GL50 3SH.

The ultimate controlling party is Matthew Brown as the majority shareholder of Giant Finance Plc. On 5 June 2025, the company re-registered from a public limited company to a private limited company. The company is now incorporated under the name Giant Finance Limited.

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