ACCOUNTS - Final Accounts

Operating profit

The operating profit is stated after charging:

Registered number: 05075056

GIANT PRECISION LIMITED

ANNUAL REPORT AND GROUP FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

GIANT PRECISION LIMITED

COMPANY INFORMATION

Directors	M J Brown
	M Henry
	M McAllister
	S Pegley
	S Rabbani


Registered number	05075056


Registered office	Fourth Floor
	90 High Holborn
	London
	United Kingdom
	WC1V 6LJ


Independent auditor	Cooper Parry Group Limited
	Statutory Auditor
	Broadwalk House
	5th Floor
	5 Appold Street
	London
	EC2A 2AG

GIANT PRECISION LIMITED

CONTENTS

	Page
Group strategic report	1 - 7
Directors' report	8 - 11
Directors' responsibilities statement	12
Independent auditor's report	13 - 16
Consolidated statement of comprehensive income	17
Consolidated balance sheet	18
Company balance sheet	19
Consolidated statement of changes in equity	20
Company statement of changes in equity	21
Consolidated statement of cash flows	22 - 23
Consolidated analysis of net funds	24
Notes to the financial statements	25 - 48

GIANT PRECISION LIMITED

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 MAY 2025

Introduction

The directors present the strategic report for the year ended 31 May 2025.
Principal activity
The company and Group remained focused on delivering compliance-driven global workforce solutions via proprietary cloud software and a managed service model. During the year, the Group expanded its operations across the EU and US by incorporating new entities, and enhanced its bespoke software and client portals, reinforcing its core offerings and long-term strategic goals.
Financial performance
Gross profit for the year was £8.29m (2024: £8.20m), with profit before taxation of £1.95m (2024: £3.42m).
The group operated in a challenging environment during the year. Despite this, we continued to invest in our proprietary platform and international capabilities. We continue to benefit from a resilient recurring revenue base while remaining alert to regulatory and market developments.
Performance indicators for the financial year are as follows:
2025 2024
£ £
Turnover 255,250,878 291,647,340
Gross profit 8,299,255 8,202,440 Profit before tax 1,957,506 3,426,298
Average no of workers on assignment 2,973 3,483

Page 1

GIANT PRECISION LIMITED

GROUP STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

Fair review of the business

The company continued delivering compliance-driven global workforce solutions via its proprietary cloud-based software and managed services. This model remains central to our mission, with innovation and growth shaped by client needs, market trends, and regulation. We serve an expanding international client base with streamlined compliant solutions.
Giant Precision Group maintains high standards in product quality, environmental awareness, and data security, supported by ISO 27001, ISO 9001, ISO 14001, and Cyber Essentials Plus certifications. We also remain fully GDPR compliant with our October 2023 audit reaffirming strong data protection practices across operations. In addition, the Group achieved an EcoVadis score of 58, reflecting our commitment to monitoring and improving environmental and social impact.
Investment in our business
Our strategy is centred on delivering workforce management solutions through a single platform designed to support agencies, corporates, and workers both in the UK and overseas. We see opportunities to expand internationally and are carefully sequencing our growth to ensure compliance in each jurisdiction. In the UK, forthcoming umbrella legislation is expected to strengthen the position of compliant providers, creating a favourable environment for businesses such as ours. By combining the scale and client reach of Giant Group and Giant Precision, we believe our platform is well placed to deliver sustainable growth. The Group remains committed to staff development through training, certifications, and IT security awareness to uphold service quality and resilience.
Strategic investments, including IT upgrades and sales expansion, support the Group’s goal of enhancing automation, resilience, and multi-channel service. We also began reviewing accounting and business processes, focusing on AI and custom technologies to improve efficiency.
Investment in our communities
We also remain committed to responsible business practices, with a focus on ESG priorities including compliance, governance, and worker wellbeing. Through our Giant Giving initiative, we exceeded our two-year fundraising target in support of Great Ormond Street Hospital Children’s Charity.
Vision of the future
Our strategy centres on delivering end-to-end, compliance-led global workforce solutions through robust proprietary platforms. Directors remain focused on organic growth via stronger client relationships and expansion into new markets. Recent launches of payroll entities in the EU and US support growing international demand and diversify revenue, reinforcing Giant Precision Group’s global position and growth potential.
Going concern
The Board reviews daily cash flow forecasts and has assessed financial projections for the 12 months from the signing date of these statements. Based on this, it is satisfied the Group has sufficient resources to operate and meet its liabilities as they fall due.
Corporate social responsibility
The Company holds ISO 14001 certification and has achieved a score of 58 on the EcoVadis sustainability scorecard, demonstrating its commitment to reducing environmental impact and providing assurance to management, employees, and stakeholders that progress is being monitored and continuously improved.

Principal risks and uncertainties

The Group adopts a structured, proactive risk management approach, holding regular cross-functional meetings to identify and address key risks. Evaluations consider internal and external factors, including PESTEL trends, competitor actions, and partnerships, using strategic frameworks to support continuous risk identification, assessment, and mitigation aligned with Group objectives.

Page 2

GIANT PRECISION LIMITED

GROUP STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

Risk management

Price risk
Operating in a competitive industry, the Group actively monitors market pricing and delivery models to maintain a responsive, sustainable strategy. The adoption of AI represents an opportunity to cut costs and offer competitive pricing.
Liquidity Risk
The Group maintains prudent liquidity management, ensuring operational cash reserves and strategic investment capacity. Timely, strategic investments have generated interest income, strengthening its financial position through efficient use of passive funds.
Credit risk
To protect cash flows, the Group adopts a proactive credit risk approach, evaluating customer creditworthiness and setting limits at onboarding. Insurance is obtained where needed. The credit control team regularly reviews arrangements to ensure effectiveness and address emerging risks.
Cash flow risk
The Group funds operations through retained earnings and cash, with treasury managing regulatory, liquidity, and credit risks. Cash flow forecasts, weekly to quarterly, are integrated into finance activities and shared with the Board for monitoring and decision-making.
Foreign currency risk
The Group’s foreign risk is currently low due to GBP transactions. As EU/US operations grow, the finance team will address rising exposure.
Data Protection and Cybersecurity risk
The Group enforces GDPR compliance through regular training and maintains ISO 27001 and Cyber Essentials Plus certifications. It has strengthened defences through penetration testing, infrastructure upgrades, and a security-first approach to protect sensitive data.
Inflation risk
UK economic uncertainty, especially inflation, poses a material risk. The Group is mitigating this by diversifying revenue, expanding its client base, and promoting bundled services to improve outcomes and margins.
Environmental, Social, and Governance (ESG) Report
ESG remains central to Giant Precision’s strategy, reflecting our commitment to ethical, responsible, and transparent operations. We monitor evolving global regulations to ensure continued compliance and leadership.
Our ESG priorities are integrated into daily operations, culture, and decisions, evolving with stakeholder expectations and global sustainability goals.

Page 3

GIANT PRECISION LIMITED

GROUP STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

Environmental
Carbon Neutral Plan
We aim for net zero emissions by 2050. While emissions may fluctuate with growth and improved reporting, our long-term target remains a 100% CO2 reduction.
Current actions include:

∙Supporting hybrid/remote work to cut commuting emissions.

∙Upgrading to energy-efficient devices and optimised servers.

∙Minimising business travel, favouring public transport.

∙Prioritising eco-conscious suppliers in procurement.

Climate Change
We promote environmental responsibility through employee training, updates, and resources. Finance leaders are encouraged to pursue sustainability qualifications, while legal and compliance teams lead ESG-focused webinars on emerging regulations.
Social
Disabled Employees
Giant Precision Group is proud to be a Disability Confident Employer, committed to a workplace where individuals with disabilities have equal access to opportunities. We regularly review our processes to remove barriers, and managers are trained to support staff needs. If an employee becomes disabled, we provide reasonable adjustments and training to ensure continued employment.
Diversity, Equity, Inclusion and Belongings
Our DEIB strategy is embedded across operations and guided by insights from our DEIB survey. We continue to support underrepresented groups, including veterans as an Armed Forces Covenant partner, and run bias-aware recruitment with bi-annual DEIB training. Our workforce reflects strong gender, ethnic, and socio-economic diversity, with most employees representing younger generations.
Looking ahead, we aim to strengthen data practices, launch Employee Resource Groups (ERGs), and celebrate cultural awareness through events and storytelling to build a more inclusive workplace.
Modern Slavery and Human Rights
The Group is committed to ensuring that modern slavery, forced labour, and human trafficking have no place in its operations or supply chains. We actively promote ethical sourcing, require our suppliers to adhere to responsible labour practices, and continue to assess and mitigate risks in this area. This commitment aligns with the UK Modern Slavery Act 2015 and reflects our broader ESG objectives of safeguarding human dignity and promoting fair, transparent business practices.
Health & Safety and Employee Wellbeing Program
Giant Precision Group is committed to a safe, healthy, and supportive workplace. We offer a confidential support helpline for issues like anxiety and financial concerns, and our Employee Assistance Program (EAP) provides 24/7 counselling and advice. Mental wellbeing is promoted through a formal policy, trained Mental Health First Aiders, and alignment with the 'Mental Health at Work Commitment.' Employees can also buy additional holidays to support work-life balance, and HQ staff receive bi-annual refresher training on climate awareness, information security, and DEIB.

Page 4

GIANT PRECISION LIMITED

GROUP STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

Employee Consultation/Involvement
At Giant Precision Group, we believe employee involvement is key to building a high-performing, future-focused organisation. We keep staff informed and engaged through regular team meetings, intranet updates, structured feedback tools, and open communication.
Our ISO9001 Quality Management certification underpins a culture of accountability and continuous improvement, supported by operational training, department-level targets, bi-annual appraisals, and clear channels for employee feedback.
Recent investments in employee experience reflect our shift toward EU-based payroll services and digital transformation. We regularly upskill staff through IT security training and targeted learning. Professional development is encouraged through in-house and external training, with reimbursements for role-relevant certifications.
We also prioritise wellbeing and morale through flexible work options, bi-annual engagement surveys, clear role definitions, and a culture of collaboration and open-door management.
Giving Back to the Community (Charitable Donations)

∙Giant Giving is our flagship initiative supporting Great Ormond Street Hospital. We’re committed to raising both funds and awareness having raised over £50,000 between June 2023 and May 2025. This was achieved through active employee participation in fundraising activities, such as charity walks and hikes, alongside company-matched donations.

∙Our Pakistan office also supports primary education for underprivileged children, fostering a learning-first mindset in underserved communities and reinforcing our ESG goals.

Giant Precision Group’s Culture
At Giant Precision Group, attracting and retaining the right talent starts with the culture set by our leadership. By acting with integrity and embodying our values, they shape behaviour across the organisation.
Our culture is reinforced throughout the employee journey, from recruitment to performance reviews, ensuring our values guide decision-making and conduct.
Always Honest and Humble
We value truth, integrity, and respect, staying open to learning and every contribution.
Always Doing the Right Thing
We act ethically, take accountability, and uphold fairness, even when no one is watching.
Always Moving Forward
We embrace change, foster innovation, and pursue continuous growth as individuals and as a team.

Governance

At Giant Precision Group, we uphold high standards of corporate governance by adhering to the UK Corporate Governance Code and the Wates Principles. These frameworks ensure transparency, accountability, ethical conduct, and responsible leadership across our operations.
Anti-corruption Measures and Ethical Business Practices
We maintain strict anti-bribery and anti-corruption policies, backed by regular reviews and internal controls. Our leadership-driven culture of compliance promotes integrity, fairness, and honesty across all regions and business activities.

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GIANT PRECISION LIMITED

GROUP STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

Compliance and Legal Issue
With our expanding global footprint, legal and regulatory compliance remains key. Dedicated specialists monitor changes across regions, ensuring we meet obligations. This includes maintaining FCSA accreditation, GDPR compliance, ISO standards, and using the EcoVadis scorecard as a benchmarking tool to guide progress on emerging ESG disclosures.
Data Privacy and Security
Cybersecurity and data protection are vital to our tech-enabled operations. We enforce rigorous IT security policies, provide staff training, and monitor threats, underpinned by internationally recognised standards such as ISO 27001 and Cyber Essentials Plus.
ESG Focus Group
We have launched a cross-functional ESG Focus Group to integrate sustainability into business decisions. This team tracks regulatory shifts, promotes suppliers’ emissions transparency, and raises internal awareness through webinars and workshops.
SECTION 172(1) STATEMENT
This section of the Strategic Report outlines how the directors have considered the matters stated in Section 172(1) of the Companies Act 2006 ('s172') while fulfilling their duty to promote the success of the company for the benefit of its shareholders. The Board acknowledges its obligations to enhance the firm's performance for the benefit of its members and all other stakeholders, who play a crucial role in the ongoing success of the company. The board ensures fair and equitable treatment of all stakeholders to ensure sustained business success. Regarding the matters outlined in Section 172 of the Act, the directors believe they have acted in good faith to advance the group's success on behalf of the stakeholders. We consider our employees, clients, suppliers, and regulatory bodies as the main stakeholders and the engagements we have with them are outlined below:
Employee interest
Employees are central to Giant Precision Group’s long-term success. We invest in their growth through structured training, professional certification support, and CPD assistance.
Our focus on well-being includes mental health support, medical benefits, flexible leave, and hybrid work options. We promote open communication via surveys, newsletters, meetings, and the intranet, while bi-annual appraisals and regular reviews support career progression.
This approach fosters a diverse, healthy, and high-performing workplace.
Clients
At Giant Precision Group, we recognise our clients as our greatest asset and the driving force behind our growth and innovation. We are committed to prioritising their interests in every decision.
Our client commitment includes:

∙Competitive Offerings: We deliver innovative, tailored solutions, with ongoing enhancements to our software and portals.

∙Strong Relationships: We focus on long-term partnerships through proactive communication, dedicated account managers, and real-time support.

∙Accessible Support: Clients receive prompt assistance from knowledgeable teams to ensure smooth service delivery.

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GIANT PRECISION LIMITED

GROUP STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

∙Transparency: We share timely, accurate information and offer webinars to help clients stay compliant and informed.

∙Continuous Improvement: Client feedback, including satisfaction surveys, shapes our service evolution.

We’ve also expanded globally through new subsidiaries to offer compliant, region-specific payroll solutions. These efforts strengthen trust, adaptability, and shared success.

Suppliers
We foster ethical, collaborative partnerships with suppliers, recognising their role in our service delivery and ESG goals.
We ensure fair, timely payments and maintain open communication with equitable terms to support long-term relationships. Our enhanced onboarding and compliance processes promote ethical sourcing and ESG alignment, including emissions transparency and regular service reviews.
These practices help build strong, sustainable supplier partnerships.
Regulators
At Giant Precision Group, we are committed to transparent, cooperative relationships with regulators, recognising their vital role in ensuring oversight and accountability. We fully comply with key regulatory frameworks, including FCSA accreditation, ISO certifications, and GDPR.
Our approach includes:

∙Active Communication: Ongoing dialogue with regulators through meetings, calls, and correspondence.

∙Audit Readiness: Welcoming site visits and maintaining readiness for compliance assessments.

∙Policy Engagement: Participating in consultations and contributing to regulatory developments.

∙Standards Adherence: Upholding sector standards and regulatory requirements.

∙ESG Planning: Established an internal ESG Focus Group to manage emerging disclosure and reporting obligations.

Through transparency and regulatory alignment, we remain committed to ethical, responsible, and compliant operations.

This report was approved by the board and signed on its behalf.

M Henry

Director

Date: 27 November 2025

Page 7

GIANT PRECISION LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 MAY 2025

The directors present their report and the financial statements for the year ended 31 May 2025.

Dividends

The results for the year are set out on page 01.

Ordinary dividends were £2,550,000 in 2025 (2024: £2,750,010). The directors do not recommend payment of a final dividend for the financial year.

Directors

The directors who served during the year were:

M J Brown

M Henry

M McAllister

S Pegley

S Rabbani

Financial instruments

The Group prudently manages cash and borrowing to maximise interest, minimise costs, and maintain liquidity. New subsidiaries in the EU and US have increased FX exposure, which the finance team is actively monitoring to mitigate currency-related risks.

Disabled persons

The Group is a Disability Confident Employer, committed to fair hiring and equal opportunities for disabled applicants. We review processes to remove barriers, train managers to provide support, and offer adjustments and training to ensure continued employment and development for employees with disabilities.

Employee involvement

The Group values employee involvement, using meetings, feedback, and reviews to drive performance and improvement, supported by ISO 9001-certified quality management practices.

Employment and employee engagement

Our people and their welfare
We foster a high performing, engaged workforce through surveys, team meetings, flexible working, and professional development. Support includes 24/7 EAP access, mental health first aiders, a wellness reimbursement scheme, and optional extra leave. Regular training covers wellbeing, information security, DEIB, AI, and modern slavery to ensure awareness and alignment.
Employee voice and communication
The Group promotes transparency and trust through open communication and feedback channels. Employees help shape direction via regular reviews, development goals, and tailored learning. Communication and upskilling have expanded with digital growth. Team bonding and cross-functional collaboration foster cohesion and shared purpose across departments.

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GIANT PRECISION LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

Diversity
Our DEIB strategy is embedded across operations and guided by insights from our DEIB survey. We continue to support underrepresented groups, including veterans as an Armed Forces Covenant partner, and run bias-aware recruitment with bi-annual DEIB training. Our workforce reflects strong gender, ethnic, and socio-economic diversity, with most employees representing younger generations.
Looking ahead, we aim to strengthen data practices, launch Employee Resource Groups (ERGs), and celebrate cultural awareness through events and storytelling to build a more inclusive workplace.
Corporate governance
Giant Precision Group follows the Wates Principles, reinforcing accountability and ethical conduct. In 2024, we enhanced compliance, data security, and internal controls. As we grow globally, legal compliance and ESG remain priorities. We have launched an ESG Focus Group for sustainable, responsible growth.
Purpose and leadership
We deliver compliant, client-focused services with dedicated support and tailored solutions. Feedback drives service and system enhancements. Employee engagement is fostered through reviews, updates, and structured input. Guided by ISO9001, we promote continuous improvement, aligning staff and client needs to build a resilient, responsive organisation.
Business relationships
The Board ensures strong stakeholder relationships. Our client-first approach drives innovation and service quality via account managers and tailored platforms. Global operations support international clients. Supplier ties are strengthened through fair terms, due diligence, ESG collaboration, and transparent quarterly reviews.
Remuneration
Giant Precision Group maintains transparent pay structures aligned with our purpose and values. Policies address reputational and behavioural risks from inappropriate incentives, reinforcing our commitment to responsible corporate governance and ethical reward practices.
Culture
Our cultural values guide decisions and behaviour across the business. Reinforced by leadership, they shape a culture of accountability, attract talent, and drive improvement. Embedded throughout the employee lifecycle, this foundation supports ethical conduct, protects our reputation, and enables the achievement of strategic goals.
Training
Ongoing training and development plans are in place to ensure directors remain well-informed about company standards, policies, and strategic objectives.
Staff
Flexible working remains the Group’s preferred model, with remote work supported and office attendance based on business or personal need. Engagement is maintained through regular check-ins and briefings. Wellbeing is prioritised through Mental Health First Aiders, a 24/7 helpline, wellness reimbursements, an Employee Assistance Programme, extra leave options, and bi-annual surveys.

Page 9

GIANT PRECISION LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

Opportunity and risk
The Group follows a structured, cross-functional approach to risk management, regularly reviewing risks against strategic goals. External factors—political, economic, technological, and environmental—are assessed using established frameworks. Price and inflation risks are addressed through innovation and diversification, while liquidity and credit risk are managed through forecasting, treasury controls, client assessments, and insurance. Data security is maintained via ISO 27001, GDPR compliance, Cyber Essentials Plus certification, and penetration testing. With international expansion, foreign exchange exposure is also being reviewed to guide future controls.

Streamlined energy and carbon report (SECR) 2024/2025

The Company remains committed to achieving net zero carbon emissions by 2050, in line with the UK Government’s national target. We aim to reach this goal by building on our history of innovation and through our self-delivery model.
Energy consumption
This report covers the financial year 2024/25 and reflects the operations of the Group. Following the closure of our office in April 2023, the majority of our workforce has transitioned to remote working. As a result, the Group has directly consumed or controlled minimal energy. Based on our best estimates, energy usage remained below 40,000 kWh, qualifying the Group as a low energy user under SECR guidelines. Therefore, full SECR disclosures are not required for the year.
Disclosure in the strategic report
In line with Section 414C(11) of the Companies Act 2006, and as referenced in this Directors’ Report, the Company has elected to include specific content within the Strategic Report. This includes the review of the business, key performance indicators, principal risks and uncertainties, business relationships, and details on future developments.
Board composition
This comprises the group chief technical officer and the group chief financial officer who are also directors of the company. In addition, both the group CEO and group chief operating officer sit on the board as well as there being representation from directors from associated companies. The group holds board meetings throughout the year and is supported by management and various departmental divisions providing timely and detailed information in support of the board's decision making. The board operates an agenda of items appropriate to the size and complexity of the business.

Page 10

GIANT PRECISION LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

Auditor

Saffery LLP, who served as auditors for the previous financial year, have ceased to hold office. Cooper Parry LLP have been appointed as the company’s new auditors and, in accordance with section 510 of the Companies Act 2006, a resolution proposing their re-appointment will be put at a General Meeting.
Statement of disclosure to auditor
To the best of each director’s knowledge, there is no relevant audit information of which the company’s auditor is unaware. Each director who approved this report has taken all the steps expected of them in their role to ensure they are aware of any relevant audit information and that the company’s auditor has been appropriately informed.
Board composition
The Board comprises the Group Chief Executive Officer, the Group Chief Financial Officer, the Group Chief Technology Officer, the Group Chief Operating Officer, and the Managing Director – Strategic Accounts, all of whom also serve as company directors, alongside directors representing associated companies. Board meetings are held throughout the year, supported by management and departmental teams who provide timely, comprehensive information to aid in decision-making. The Board follows an agenda tailored to the scale and complexity of the business.

This report was approved by the board and signed on its behalf.

M Henry

Director

Date: 27 November 2025

Page 11

GIANT PRECISION LIMITED

DIRECTORS' RESPONSIBILITIES STATEMENT

FOR THE YEAR ENDED 31 MAY 2025

The directors are responsible for preparing the group strategic report, the directors' report and the consolidated financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the Group and of the profit or loss of the Group for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the Group's financial statements and then apply them consistently;

∙make judgements and accounting estimates that are reasonable and prudent;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 12

GIANT PRECISION LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GIANT PRECISION LIMITED

Opinion

We have audited the financial statements of Giant Precision Limited (the 'parent company') and its subsidiaries (the 'Group') for the year ended 31 May 2025, which comprise the consolidated statement of comprehensive income, the group and company balance sheet, the group and company statement of changes in equity, the consolidated statement of cash flows, the consolidated analysis of net funds and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the Group's and of the parent company's affairs as at 31 May 2025 and of the Group's profit for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Page 13

GIANT PRECISION LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GIANT PRECISION LIMITED (CONTINUED)

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the group strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the group strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the group strategic report or the directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

∙the parent company financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' responsibilities statement set out on page 12, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the Group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or the parent company or to cease operations, or have no realistic alternative but to do so.

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GIANT PRECISION LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GIANT PRECISION LIMITED (CONTINUED)

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these group financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

We gained an understanding of the legal and regulatory framework applicable to the group and the industry in which it operates, and considered the risk of acts by the group that were contrary to applicable laws and regulations, including fraud. We discussed with the directors the policies and procedures in place regarding compliance with laws and regulations. We discussed amongst the audit team the identified laws and regulations, and remained alert to any indications of non-compliance.
During the audit we focused on laws and regulations which could reasonably be expected to give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management.
Our procedures in relation to fraud included but were not limited to: inquires of management whether they have any knowledge of any actual, suspected or alleged fraud, and discussions amongst the audit team regarding risk of fraud such as opportunities for fraudulent manipulation of financial statements. We determined that the principal risks related to posting manual journal entries to manipulate financial performance and management bias through judgements in accounting estimates. We also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud. Our tests include agreeing the financial statement disclosures to underlying supporting documentation.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. In assessing the potential risks of material misstatement we obtained an understanding of; the entities operations, including the nature of its turnover sources and services and of its objectives and strategies to understand the classes of transactions, account balances, expected financial statement disclosures and business risks that may result in risks of material misstatement. We did not identify any matters relating to non-compliance with laws and regulations relating to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Page 15

GIANT PRECISION LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GIANT PRECISION LIMITED (CONTINUED)

Use of our report

This report is made solely to the group's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the group's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the group and the group's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Chris Evans (Senior Statutory Auditor)

for and on behalf of

Cooper Parry Group Limited

Statutory Auditor

Broadwalk House

5th Floor

5 Appold Street

London

EC2A 2AG

27 November 2025

Page 16

GIANT PRECISION LIMITED

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 MAY 2025

	2025	2024
Note	£	£


Turnover	4	255,250,878	291,647,340
Cost of sales		(246,951,623)	(283,444,900)
Gross profit		8,299,255	8,202,440
Administrative expenses		(6,988,010)	(6,132,064)
Exceptional administrative income	5	-	325,000
Other operating income/(expenses)	6	73,266	(210)
Operating profit	7	1,384,511	2,395,166
Interest receivable and similar income	11	861,763	1,118,967
Interest payable and similar expenses	12	(288,768)	(87,835)
Profit before taxation		1,957,506	3,426,298
Tax on profit	13	(460,731)	(794,819)
Profit for the financial year		1,496,775	2,631,479


Currency translation gain taken to retained earnings	(15,824)	2,504
Total comprehensive income for the year	1,480,951	2,633,983

Profit for the financial year is all attributable to the owners of the parent company.
Total comprehensive income for the year is all attributable to the owners of the parent company.
There were no recognised gains and losses for 2025 or 2024 other than those included in the consolidated statement of comprehensive income.

The notes on pages 25 to 48 form part of these financial statements.

Page 17

GIANT PRECISION LIMITED

REGISTERED NUMBER: 05075056

CONSOLIDATED BALANCE SHEET

AS AT 31 MAY 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	15		393,430		349,724
Tangible assets	16		468,810		615,762
			862,240		965,486
Current assets
Debtors: amounts falling due within one year	19	14,480,715		12,953,676
Cash at bank and in hand	20	17,485,982		27,358,668
		31,966,697		40,312,344
Creditors: amounts falling due within one year	21	(30,142,414)		(37,520,851)
Net current assets			1,824,283		2,791,493
Total assets less current liabilities			2,686,523		3,756,979
Provisions for liabilities
Deferred taxation	23	(179,724)		(181,132)
			(179,724)		(181,132)
Net assets			2,506,799		3,575,847

Capital and reserves
Called up share capital	24	409	409
Capital redemption reserve	25	658,031	658,031
Profit and loss account	25	1,848,359	2,917,407
Equity attributable to owners of the parent company		2,506,799	3,575,847
		2,506,799	3,575,847

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

M Henry

Director

Date: 27 November 2025

The notes on pages 25 to 48 form part of these financial statements.

Page 18

GIANT PRECISION LIMITED

REGISTERED NUMBER: 05075056

COMPANY BALANCE SHEET

AS AT 31 MAY 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	15		393,430		349,724
Tangible assets	16		340,411		396,084
Investments	17		1,892		1,308
			735,733		747,116
Current assets
Debtors: amounts falling due within one year	19	5,206,733		3,779,454
Cash at bank and in hand	20	9,350,306		8,946,465
		14,557,039		12,725,919
Creditors: amounts falling due within one year	21	(13,109,256)		(10,743,085)
Net current assets			1,447,783		1,982,834
Total assets less current liabilities			2,183,516		2,729,950

Provisions for liabilities
Deferred taxation	23		(178,823)		(181,132)
Net assets			2,004,693		2,548,818

Capital and reserves
Called up share capital	24	409	409
Capital redemption reserve	25	658,031	658,031
Profit and loss account	25	1,346,253	1,890,378
Shareholders' funds		2,004,693	2,548,818

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

M Henry

Director

Date: 27 November 2025

The notes on pages 25 to 48 form part of these financial statements.

Page 19

GIANT PRECISION LIMITED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MAY 2025

	Called up share capital	Capital redemption reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 June 2024	409	658,031	2,917,407	3,575,847

Profit for the year	-	-	1,496,775	1,496,775
Currency translation differences	-	-	(15,823)	(15,823)
Dividends	-	-	(2,550,000)	(2,550,000)
At 31 May 2025	409	658,031	1,848,359	2,506,799

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MAY 2024

	Called up share capital	Capital redemption reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 June 2023	409	658,031	3,033,434	3,691,874

Profit for the year	-	-	2,631,479	2,631,479
Currency translation differences	-	-	2,504	2,504
Dividends	-	-	(2,750,010)	(2,750,010)
At 31 May 2024	409	658,031	2,917,407	3,575,847

The notes on pages 25 to 48 form part of these financial statements.

Page 20

GIANT PRECISION LIMITED

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MAY 2025

	Called up share capital	Capital redemption reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 June 2024	409	658,031	1,890,378	2,548,818

Profit for the year	-	-	2,005,875	2,005,875
Dividends	-	-	(2,550,000)	(2,550,000)
At 31 May 2025	409	658,031	1,346,253	2,004,693

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MAY 2024

	Called up share capital	Capital redemption reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 June 2023	409	658,031	2,172,589	2,831,029

Profit for the year	-	-	2,467,799	2,467,799
Dividends	-	-	(2,750,010)	(2,750,010)
At 31 May 2024	409	658,031	1,890,378	2,548,818

The notes on pages 25 to 48 form part of these financial statements.

Page 21

GIANT PRECISION LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MAY 2025

			2025	2024
			£	£

Cash flows from operating activities
Profit for the financial year	1,496,775	2,631,479
Adjustments for:
Amortisation of intangible assets	92,528	27,871
Depreciation of tangible assets	147,613	308,829
Interest paid	288,768	87,835
Interest received	(861,763)	(1,118,967)
Taxation charge	460,731	794,819
(Increase) in debtors	(1,543,556)	(5,621,355)
(Decrease)/increase in creditors	(7,116,201)	5,655,080
Corporation tax (paid)	(708,771)	(632,940)
Finance cost	(288,768)	(87,835)
Net cash generated from operating activities	(8,032,644)	2,044,816

Cash flows from investing activities
Purchase of intangible fixed assets	(136,234)	(130,353)
Purchase of tangible fixed assets	(31,260)	(483,944)
Interest received	861,763	1,118,967
Currency retranslation gain	(15,824)	-
Net cash from investing activities	678,445	504,670

Page 22

GIANT PRECISION LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

		2025	2024
		£	£


Cash flows from financing activities
Dividends paid	(2,550,000)	(2,750,010)
Net (decrease) in cash and cash equivalents	(9,904,199)	(200,524)
Cash and cash equivalents at beginning of year	27,358,668	27,556,688
Foreign exchange gains and losses	31,513	2,504
Cash and cash equivalents at the end of year	17,485,982	27,358,668

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	17,485,982	27,358,668
	17,485,982	27,358,668

The notes on pages 25 to 48 form part of these financial statements.

Page 23

GIANT PRECISION LIMITED

CONSOLIDATED ANALYSIS OF NET FUNDS

FOR THE YEAR ENDED 31 MAY 2025


At 1 June 2024	Cash flows	At 31 May 2025
£	£	£

Cash at bank and in hand	27,358,668	(9,872,686)	17,485,982
Debt due within 1 year	-	-	-

The notes on pages 25 to 48 form part of these financial statements.

Page 24

GIANT PRECISION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

1.	General information

Giant Precision Limited ('the company') is a private company limited by shares incorporated in England and Wales. The registered office is Fourth Floor, 90 High Holborn, London, England, WC1V 6LJ.
The group consists of Giant Precision Limited and all of its subsidiaries.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).
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 company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own statement of comprehensive income in these financial statements.

The following principal accounting policies have been applied:

2.2

Business combinations

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.
Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

Page 25

GIANT PRECISION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

2.Accounting policies (continued)

2.3

Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Giant Precision Limited together with all entities controlled by the parent company (its subsidiaries) and the group's share of its interests in joint ventures and associates.
All financial statements are made up to 31 May 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

2.4

Going concern

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

2.5

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the consolidated statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the consolidated statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the consolidated statement of comprehensive income within 'other operating income'.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

Page 26

GIANT PRECISION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

2.Accounting policies (continued)

2.6

Turnover

Turnover is recognised to the extent that the group obtains the right to consideration in exchange for its performance. Turnover is measured at fair value of the consideration received excluding discounts, rebates, VAT and other sales taxes.
Turnover from a contract to provide employment services is recognised in the period in which the services are provided and once the associated costs can be reliably measured.

2.7

Leases

Rentals payable under operating leases, including any lease incentives received, are charged to the consolidated statement of comprehensive income 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 leased asset are consumed.

2.8

Interest income

Interest income is recognised in the consolidated statement of comprehensive income using the effective interest method.

2.9

Finance costs

Finance costs are charged to the consolidated statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.10

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 group is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2.11

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Page 27

GIANT PRECISION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

2.Accounting policies (continued)

2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the consolidated statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and

∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.13

Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
For the purposes of impairment testing. goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit

2.14

Exceptional item

Contained within exceptional items are certain one-off charges or credits that have a material impact on the group's financial results as 'exceptional items'.

Page 28

GIANT PRECISION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

2.Accounting policies (continued)

2.15

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation 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:

The estimated useful lives range as follows:

Computer software

years straight line

Amortisation is included in administrative expenses in the consolidated statement of comprehensive income.

2.16

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Fixtures and fittings	-	3 years
				Computer equipment	-	4 - 8 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

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 recognised in the consolidated statement of comprehensive income.

2.17

Fixed asset investments

Equity investments are measured at fair value through the consolidated statement of comprehensive income, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.
In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
A subsidiary is an entity controlled by the group control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Page 29

GIANT PRECISION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

2.Accounting policies (continued)

2.18

Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible 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). Where it is not possible to estimate the recoverable amount of an individual asset, the group estimates the recoverable amount of the cash-generating unit to which the asset belongs.
The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

2.19

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to the consolidated statement of comprehensive income.

2.20

Financial instruments

The group has elected to apply the provisions of Section 1 1 'Basic Financial Instruments' of FRS ID2 to all of its financial instruments.
Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and 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.

Page 30

GIANT PRECISION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

2.Accounting policies (continued)

Impairment of financial assets
Financial assets, other than those held at fair value through the consolidated statement of comprehensive income, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the consolidated statement of comprehensive income.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in the consolidated statement of comprehensive income.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flaws from the asset expire or are settled, or when the group 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 group after deducting all of its liabilities.
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.
Derecognition of financial liabilities
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

Page 31

GIANT PRECISION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

2.Accounting policies (continued)

2.21

Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs.

2.22

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.	Judgements and key sources of estimation uncertainty

In the application of the group'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.
Critical judgements
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the consolidated financial statements.
Holiday pay

The group operates both accrued and rolled up holiday pay schemes. All workers are given monthly reminders to take their holiday.
Bad debt provision
A provision is made for bad and doubtful debts, where management believes there is an issue in the recoverability of trade and other debtors. In the current year, management believe all balances to be recoverable and hence no provision is included within the consolidated financial statements.

Page 32

GIANT PRECISION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

Turnover

Analysis of turnover by country of destination:

					2025	2024
					£	£

United Kingdom	248,926,772	283,457,740
Jersey	138,274	986,338
Europe	5,220,201	6,876,462
United States of America	965,631	326,800
	255,250,878	291,647,340

5.	Exceptional items
		2025	2024
		£	£

Exceptional income

325,000

Exceptional income refers to insurance income received, related to prior years. The expenses associated with these events have also been treated as exceptional in the period in which they incurred.

6.	Other operating income/(expenses)
		2025	2024
		£	£

	Other operating income/(expenses)	73,266	(210)

Exchange differences	134,919	61,516
Other operating lease rentals	180,734	145,835
Depreciation of owned tangible fixed assets	147,613	308,829
Amortisation of intangible fixed assets	92,528	27,871

Page 33

GIANT PRECISION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

Audit of the financial statements of the group and company

75,500

65,719

9.	Employees
	Staff costs were as follows:

Group	Group	Company	Company
2025	2024	2025	2024
£	£	£	£


Wages and salaries	227,205,373	171,801,197	8,705,007	2,361,244
Social security costs	18,673,007	18,746,720	281,451	305,130
Pension costs	1,523,866	1,785,542	66,287	67,268
	247,402,246	192,333,459	9,052,745	2,733,642

The average monthly number of employees, including the directors, during the year was as follows:

	Group	Group	Company	Company
	2025	2024	2025	2024
	No.	No.	No.	No.

Flexible workers	2,728	3,483	-	-
Administrative	245	216	58	59
Directors	2	2	2	2

	2,975	3,701	60	61

10.	Directors' remuneration
		2025	2024
		£	£

Directors' emoluments	313,993	418,593
Group contributions to defined contribution pension schemes	6,050	6,050
	320,043	424,643

	The highest paid director received remuneration of £207,793 (2024: £312,332).
	The value of the Group's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £6,050 (2024: £6,050).

Page 34

GIANT PRECISION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

11.	Interest receivable
		2025	2024
		£	£

Other interest receivable

861,763

1,118,967

12.	Interest payable and similar expenses
		2025	2024
		£	£

Bank interest payable	2,849	-
Other loan interest payable	284,327	87,835
Other interest payable	1,592	-
	288,768	87,835

Corporation tax
Current tax on profits for the year	446,214	828,208

	Deferred tax
	Origination and reversal of timing differences	14,517	(33,389)


	Tax on profit	460,731	794,819

Page 35

GIANT PRECISION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

13.Taxation (continued)

Profit on ordinary activities before tax

1,497,693

3,426,298

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024:25%)	374,243	856,575
Effects of:
Capital allowances for year in excess of depreciation	(25,743)	(12,583)
Under/(over) provided in prior years	72,843	(23,241)
Deferred tax adjustments in respect of prior years	-	(2,126)
Group relief	(101,688)	(130,268)
Tax effect of expenses that are not deductible in determining taxable profit	93,282	39,887
Tax effect of income not taxable in determining taxable profit	33,277	42,271
Deferred tax	14,517	24,304
Total tax charge for the year	460,731	794,819

14.	Dividends
		2025	2024
		£	£

	Ordinary
	Final paid	2,550,000	2,750,010

Page 36

GIANT PRECISION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

15.	Intangible assets
	Group

	Computer software	Goodwill	Total
	£	£	£
Cost
At 1 June 2024	382,737	580,000	962,737
Additions - internal	136,234	-	136,234
At 31 May 2025	518,971	580,000	1,098,971
Amortisation
At 1 June 2024	33,013	580,000	613,013
Charge for the year	92,528	-	92,528
At 31 May 2025	125,541	580,000	705,541
Net book value
At 31 May 2025	393,430	-	393,430
At 31 May 2024	349,724	-	349,724

Page 37

GIANT PRECISION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

15.Intangible assets (continued)

	Company

		Computer software
		£
	Cost
	At 1 June 2024	382,737
	Additions - internal	136,234
	At 31 May 2025	518,971
	Amortisation
	At 1 June 2024	33,013
	Charge for the year	92,528
	At 31 May 2025	125,541
	Net book value
	At 31 May 2025	393,430
	At 31 May 2024	349,724

Page 38

GIANT PRECISION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

16.	Tangible fixed assets
	Group

	Fixtures and fittings	Computer equipment	Total
	£	£	£
Cost
At 1 June 2024	291,109	2,193,639	2,484,748
Additions	2,111	29,149	31,260
Exchange adjustments	(9,881)	(20,718)	(30,599)
At 31 May 2025	283,339	2,202,070	2,485,409
Depreciation
At 1 June 2024	216,048	1,652,938	1,868,986
Charge for the year	24,199	138,976	163,175
Exchange adjustments	(4,742)	(10,820)	(15,562)
At 31 May 2025	235,505	1,781,094	2,016,599
Net book value
At 31 May 2025	47,834	420,976	468,810
At 31 May 2024	75,061	540,701	615,762

Page 39

GIANT PRECISION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

16.Tangible fixed assets (continued)

	Company

	Fixtures and fittings	Computer equipment	Total
	£	£	£
Cost
At 1 June 2024	146,749	1,890,947	2,037,696
Additions	-	23,943	23,943
At 31 May 2025	146,749	1,914,890	2,061,639
Depreciation
At 1 June 2024	146,749	1,494,863	1,641,612
Charge for the year	-	79,616	79,616
At 31 May 2025	146,749	1,574,479	1,721,228
Net book value
At 31 May 2025	-	340,411	340,411
At 31 May 2024	-	396,084	396,084

Page 40

GIANT PRECISION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

17.	Fixed asset investments

	Company

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 June 2024	1,308
	Additions	584
	At 31 May 2025	1,892

Subsidiary undertakings
The following were subsidiary undertakings of the company:
Name	Registered office	Class of shares	Holding

Giant Employment Limited	Fourth floor, 90 High Holborn, London, WC1V 6LJ		100%
Giant Precision Resourcing Limited	Fourth floor, 90 High Holborn, London, WC1V 6LJ		100%
Giant Business Connect Limited	Fourth floor, 90 High Holborn, London, WC1V 6LJ		100%
Giant Precision Contracts Limited	Fourth floor, 90 High Holborn, London, WC1V 6LJ		100%
Giant Precision Services Limited	Fourth floor, 90 High Holborn, London, WC1V 6LJ		100%
Giant Precision Planning Limited	Fourth floor, 90 High Holborn, London, WC1V 6LJ		100%
Giant Precision Workforce Limited	Fourth floor, 90 High Holborn, London, WC1V 6LJ		100%
Giant Global Payroll Limited	Fourth floor, 90 High Holborn, London, WC1V 6LJ		100%
Giant Precision (Pakistan) Limited	4th Floor, Askari Corporate Tower, 75 / 76 D-1, Main Boulevard, Block D 1, GuIberg III, Lahore	Ordinary	100%
Giant Global Payroll Portugal - Trabalho Temporario Unipessioal Lda	Avenida General Humberto Delgado, Guimarães, 4800-158 GUIMARÃES		0%

Page 41

GIANT PRECISION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

Subsidiary undertakings (continued)

Name

Registered office

Class of shares

Holding

Giant Global Payroll Poland	ul. Zelazna 17, Floor 40, Unit 101, 00-832 Warsaw, Poland	0%
Giant Global Ireland Limited	Mc2, Penrose Wharf, Penrose Quay, Cork, Ireland, T23 XN53	0%
Giant Global Payroll NL B.V.	Kraanspoor 50 1033SE Amsterdam	0%
Giant Global Payroll ApS	C/O Intertrust (Denmark) ApS Sundkrogsgade 21, 2100 København Ø	0%
Giant Global Payroll USA Inc.	2140 S Dupont Highway, Camden, DE 19934	0%
Giant Global Paryorll ApS NUF	C/O Intertrust (Norway) AG Postboks 2051 Vika 0125 OSLO	0%

The undertakings in Giant Global Payroll Ireland Limited, Giant Global USA INC, GGP Portugal, Giant Global Poland Limited, Giant Global Payroll Aps and Giant Global Payroll NL B.V. are indirectly held by group, as these are subsidiaries of Giant Global Payroll Limited.

18.	Parental guarantee

Giant Precision Limited has provided a guarantee under Section 479C of the Companies Act 2006 for Giant Global Payroll Limited (14434623) for the financial year ended 31 May 2025. This guarantee covers all outstanding liabilities of Giant Global Payroll Limited as of 31 May 2025 until they are satisfied in full. Giant Global Payroll Limited is exempt from the requirements of the Companies Act 2006 relating to the audit of individual accounts by virtue of Section 479C. Giant Global Payroll Limited is included in the consolidated accounts of Giant Precision Limited for the year ended 31 May 2025.

Page 42

GIANT PRECISION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

19.

Debtors

Group	Group	Company	Company
2025	2024	2025	2024
£	£	£	£


Trade debtors	9,777,775	7,966,639	503,141	24,326
Amounts owed by related parties	2,500,000	56,769	3,266,884	2,444,748
Other debtors	458,198	3,331,230	8,541	13,218
Prepayments and accrued income	915,870	765,493	664,143	594,671
Tax recoverable	769,959	758,113	764,024	702,491
Deferred taxation	58,913	75,432	-	-
	14,480,715	12,953,676	5,206,733	3,779,454

20.	Cash and cash equivalents
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Cash at bank and in hand	17,485,982	27,358,668	9,350,306	8,946,465
	17,485,982	27,358,668	9,350,306	8,946,465

21.	Creditors: Amounts falling due within one year
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Trade creditors	1,045,494	3,425,471	380,618	365,897
Amounts owed to related parties	6,835,177	6,500,000	10,003,901	6,587,148
Corporation tax	74,460	336,710	-	-
Other taxation and social security	10,360,097	14,108,325	730,356	672,225
Other creditors	6,644,795	7,263,058	1,761,109	2,986,263
Accruals and deferred income	5,182,391	5,887,287	233,272	131,552
	30,142,414	37,520,851	13,109,256	10,743,085

The terms relating to amounts owed to related parties are as follows: £4,000,000 is unsecured, with interest accruing at Bank of England base rate +0.25% per annum and is repayable within 12 month of written notice from the related party. £2,500,000 is unsecured, repayable within 12 months. All other balances are unsecured, interest free and repayable on demand.

Page 43

GIANT PRECISION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

22.	Financial instruments
		Group	Group
		2025	2024
		£	£

	Financial assets
	Financial assets measured at fair value through profit or loss	29,466,728	40,270,573

	Financial liabilities
	Financial liabilities measured at amortised cost	23,307,254	31,035,849

Financial assets that are debt instruments measured at amortised cost comprise of cash, trade debtors and other debtors, amounts owed by group and accrued Income.
Financial liabilities measured at amortised cost comprise of trade creditors, other creditors, amounts owed to group and accruals.
Information regarding the Company’s exposure to risks are included in the strategic report.

Page 44

GIANT PRECISION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

23.	Deferred taxation
	Group

		2025
		£

	At beginning of year	105,703
	Charged to profit or loss	(15,111)
	At end of year	120,814

Company

		2025
		£

	At beginning of year	181,132
	Charged to profit or loss	2,312
	At end of year	178,820

The deferred tax balance is made up as follows:
	Liabilities	Liabilities	Assets	Assets
	2025	2024	2025	2024
	£	£	£	£

Accelerated capital allowances	181,412	183,953	3,052	3,759
Short term timing difference	(2,592)	(2,821)	55,861	71,673
	178,820	181,132	58,913	75,432

Comprising:
Asset - due within one year	(58,913)	(75,432)	-	-
Liability	179,727	181,132	178,820	181,132
	120,814	105,700	178,820	181,132

The deferred tax asset set out above is expected to reverse within 12 months and relates to the utilisation of tax losses against future expected profits of the same period. The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

Page 45

GIANT PRECISION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

24.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

40,891 (2024: 40,891) Ordinary shares of £0.01 each	409	409

25.

Reserves

Capital redemption reserve

This reserve records the nominal value of shares repurchased by the company.

Profit and loss account

This represents cumulative profits or losses net of distributions to owners and other adjustments.

26.	Retirement benefit schemes

	2025	2024
	£	£

Defined contribution schemes
Charge to the consolidated statement of comprehensive income	1,517,816	1,785,548

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.
The outstanding amount included in creditors for pension contributions as at 31 May 2025 amounted to £419,790 (2024: £510,089).

27.	Transactions with directors

Dividends totaling £2,550,000 (2024: £2,750,010) were paid in the year in respect of shares held by the group's directors.

Page 46

GIANT PRECISION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

28.	Related party transactions

Transactions with related parties
The company has taken advantage of the exemption provided by section 33 of FRS 102 Related Party Disclosures' and has not disclosed transactions entered into between two or more members of the group, provided that any subsidiary undertaking which is party to the transactions is wholly owned by a member
of the group.
During the year the group entered into the following transactions with related parties under common control:

	Sales 2025	Sales 2024	Purchases 2025	Purchases 2024
	£	£	£	£

Group
Other related parties	13,352,941	2,701,182	11,974,711	2,034,316
Company
Other related parties	6,550,827	2,533,258	2,280,747	475,074

The following amounts were outstanding at the reporting end date:
Amounts owed to related parties

	2025	2024
	£	£

Group
Other related parties	6,835,174	6,501,224
Company
Other related parties	6,835,174	6,500,000

Of the above balances £6,835,174 (2024: £6,500,000) is included in amounts owed to related parties £4,000,000 (2024: £4,000,000) is unsecured, with interest accruing at Bank of England base rate +0.25% per annum and is repayable within 12 month of written notice from the company. During the year interest of £281,223 was paid in relation to these balances. £2,500,000 is unsecured, repayable within 12 months. All other balances are unsecured, interest free and repayable on demand.

The following amounts were outstanding at the reporting end date:
Amounts owed by related parties

	2025	2024
	£	£

Group
Other related parties	2,500,000	2,563,437

Page 47

GIANT PRECISION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

29.	Controlling party

The ultimate controlling party is Matthew Brown, a director of the company and majority shareholder of Giant Precision Limited.

Page 48