Registered number: 07872025
FOR THE YEAR ENDED 31 MAY 2025
GIANT PROFESSIONAL LIMITED
COMPANY INFORMATION
GIANT PROFESSIONAL LIMITED
CONTENTS
GIANT PROFESSIONAL LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2025
The directors present the strategic report for the year ended 31 May 2025.
During the financial year, the company’s principal activity continued to be that of employing contract workers.
Gross profit was £8m (2024: £10.7m) and profit before taxation was £3m (2024: £6.1m).
The company 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.
Other operating income for the year amounts to £1.1m (2024: £1.2m) and is primarily recharges of management costs to other associate companies.
Performance indicators during the year are as follows:
The company 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.
Other operating income for the year amounts to £1.1m (2024: £1.2m) and is primarily recharges of management costs to other associate companies.
Performance indicators during the year are as follows:
Service quality and performance met expected standards, with no major process deviations affecting operations. We remain committed to quality-focused technology, processes, and support services to deliver compliance-driven workforce solutions through our proprietary software and managed services. We maintain 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 Company achieved an EcoVadis score of 58, reflecting our commitment to monitoring and improving environmental and social impact.
The Company’s key KPIs remain margin, contractor employees, cash balances, and trade debtors. Growth continues through wider agency engagement and new contracts, supported by worker tenure, pay rates, effective margin management, overhead control, and customer-focused technology.
The Company’s key KPIs remain margin, contractor employees, cash balances, and trade debtors. Growth continues through wider agency engagement and new contracts, supported by worker tenure, pay rates, effective margin management, overhead control, and customer-focused technology.
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GIANT PROFESSIONAL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
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.
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.
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.
Our strategy across focuses on combining software solutions with services to help businesses manage their workforce effectively. We view potential umbrella industry regulation as a positive step for sector-wide compliance. To drive growth, we are exploring new markets, strengthening client relationships, and bundling multiple services to increase margins per client, while seeking new revenue opportunities for both existing and prospective customers.
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 Company has sufficient resources to operate and meet its liabilities as they fall due.
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.
The Company 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.
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GIANT PROFESSIONAL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
Regulatory risk
The Company operates in a highly specialised sector that is closely influenced by evolving regulation and legislation. Changes in employment law directly affect our operations, making it essential to remain proactive and well-informed. We work closely with a wide network of professional advisors to stay ahead of legal and compliance developments. With increasing scrutiny and the prospect of further regulation in the UK umbrella industry, risks such as stricter worker rights enforcement, tighter tax compliance, and enhanced reporting obligations may arise. As the agency and contractor market continues to grow, maintaining robust compliance frameworks and adapting swiftly to regulatory shifts remain central to our strategy.
The Company operates in a highly specialised sector that is closely influenced by evolving regulation and legislation. Changes in employment law directly affect our operations, making it essential to remain proactive and well-informed. We work closely with a wide network of professional advisors to stay ahead of legal and compliance developments. With increasing scrutiny and the prospect of further regulation in the UK umbrella industry, risks such as stricter worker rights enforcement, tighter tax compliance, and enhanced reporting obligations may arise. As the agency and contractor market continues to grow, maintaining robust compliance frameworks and adapting swiftly to regulatory shifts remain central to our strategy.
Operating in a competitive industry, the Company 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.
The Company 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.
The Company 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.
The Company 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.
To protect cash flows, the Company 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.
The exchange risk for the company is relatively low, as it primarily trades in Pounds Sterling.
The Company 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.
UK economic uncertainty, especially inflation, poses a material risk. The Company is mitigating this by diversifying revenue, expanding its client base, and promoting bundled services to improve outcomes and margins.
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GIANT PROFESSIONAL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1. Governance
Board Oversight
The Company Executive Board comprises the CEO, COO, CFO, and CTO, with input from the CEOs of Screening Limited and Finance+ plc, as well as the MD for Strategic Accounts and Global.
Most headquarters staff work remotely, reducing energy use and climate impact. Acknowledging the importance of climate change, the Board has addressed it in meetings and will embed climate strategy discussions in future sessions, covering corporate responsibility, climate risks, sustainability, and HSSE matters. The aim is to instill a risk-based culture across the Company, ensuring climate-related risks and opportunities are fully integrated into the risk management framework. Given the Company’s low climate risk profile, full integration is targeted for completion by the end of the next financial year.
The Company regularly reviews key business risks and actions to minimise inherent exposure.
Key factors include:
Board Oversight
The Company Executive Board comprises the CEO, COO, CFO, and CTO, with input from the CEOs of Screening Limited and Finance+ plc, as well as the MD for Strategic Accounts and Global.
Most headquarters staff work remotely, reducing energy use and climate impact. Acknowledging the importance of climate change, the Board has addressed it in meetings and will embed climate strategy discussions in future sessions, covering corporate responsibility, climate risks, sustainability, and HSSE matters. The aim is to instill a risk-based culture across the Company, ensuring climate-related risks and opportunities are fully integrated into the risk management framework. Given the Company’s low climate risk profile, full integration is targeted for completion by the end of the next financial year.
The Company regularly reviews key business risks and actions to minimise inherent exposure.
Key factors include:
∙Travel requirements and office use.
∙Supplier policies and appetite.
∙Equipment choice (climate and suitability).
∙Client expectations on compliance and commitments.
The Board ensures disclosures comply with the Climate-related Financial Disclosure Regulation 2022, overseeing the identification, assessment, and communication of climate-related risks and opportunities.
Currently, the Company has not formed a dedicated body for climate risk management, as total energy use is under 40,000 kWh per year, qualifying for SECR reporting exemption. Based on this, climate-related risk is considered low. However, recognising the rising importance of environmental reporting, the Board is committed to strengthening our ESG focus. In 2025, we have established an ESG Focus Group to:
Currently, the Company has not formed a dedicated body for climate risk management, as total energy use is under 40,000 kWh per year, qualifying for SECR reporting exemption. Based on this, climate-related risk is considered low. However, recognising the rising importance of environmental reporting, the Board is committed to strengthening our ESG focus. In 2025, we have established an ESG Focus Group to:
∙Identify and manage climate-related risks and opportunities, embedding sustainability in strategic planning.
∙Provide regular updates to the Board and management on climate-related risks, opportunities, and developments.
Management’s Role
Senior management is responsible for assessing and managing climate-related risks and opportunities in line with the risk strategy set by the Board. They ensure appropriate measures are in place to identify, monitor, control, and report risks within Board-defined parameters. This responsibility is embedded in the strategic planning process.
Senior management is responsible for assessing and managing climate-related risks and opportunities in line with the risk strategy set by the Board. They ensure appropriate measures are in place to identify, monitor, control, and report risks within Board-defined parameters. This responsibility is embedded in the strategic planning process.
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GIANT PROFESSIONAL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
Risk Management
Currently, the Company is not exposed to significant climate-related risks or opportunities. However, recognising the fast-evolving nature of this area, we have established an independent climate risk register. This register helps identify threats that could affect financial performance, operations, reputation, or strategic objectives, and supports the assessment of their significance and the recommendation of remedial measures. It includes both immediate and emerging risks from technological change, legislation, and sociocultural shifts, ensuring the Board and senior management remain prepared and focused.
As part of our ongoing risk management, we also monitor potential greenhouse gas emissions from operations, including supply chains and IT usage. While these emissions are currently minimal, we remain committed to corrective measures to keep them at acceptable levels.
2. Strategy
Description of Climate-Related Risks and Opportunities
Given the Company’s low energy use—largely due to most staff working from home—and the absence of a mandatory carbon reporting requirement, the risk from climate change is considered relatively low and not identified as a principal risk.
Our ISO 14001-certified Quality and Environmental Policy underpins this approach. Operations are almost fully paperless, and we promote efficient resource use by reducing waste, recycling, and applying other environmentally friendly practices. We also prioritise IT equipment upgrades and workplace energy efficiency initiatives.
This policy aligns with the Company’s purpose and context, supporting both customer regulatory requirements and our commitment to continuous improvement. It provides a framework for setting and aligning Quality and Environmental objectives across all functions.
As we finalise our risk register, each risk will be evaluated by likelihood, impact, and mitigation strategies, with annual reviews to ensure relevance and completeness. The Company also aims to incorporate climate scenario analysis by the end of the next financial year.
3. Metrics and Targets
Key Metrics
As a purely service-oriented business, and with many headquarters employees now working remotely since vacating our main office on May 25 of the prior fiscal year, the Company has consumed under 40,000 kWh of energy. This operating model is expected to continue, and the board believes climate-related risk will remain low, so it is not included among principal risks and no specific key metrics or targets have been set.
Giant Professional Limited currently applies simple metrics that we plan to expand next year:
∙High proportion of employees working from home (lower travel and office costs)
∙IT procurement considering environmental efficiency factors
∙Supplier reports on data centre energy use and reduction plans
We track relevant metrics, including carbon emissions and energy consumption, and report to senior management.
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GIANT PROFESSIONAL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
Environmental, Social, and Governance (ESG) Report
ESG remains central to Giant Professional’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.
Environmental
Carbon Neutral Plan
At Giant, we recognise the impact of climate change and the significance of reducing our carbon emissions.
As part of our environmental commitment, we monitor and manage our carbon footprint.
Baseline Year: 1st June 2023 — 31st May 2025
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
Social
Disabled Employees
Giant Professional Limited 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.
Disabled Employees
Giant Professional Limited 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.
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 Company 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.
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 Company 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.
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GIANT PROFESSIONAL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
Giant Professional Limited 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.
At Giant Professional Limited, 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.
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.
∙Giant 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
At Giant Professional Limited, 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.
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.
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GIANT PROFESSIONAL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
At Giant Professional Limited, 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.
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.
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.
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.
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.
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 company'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:
Employees are central to Giant Professional Limited’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.
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.
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GIANT PROFESSIONAL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
As directors of Giant Professional Limited, we acknowledge that our clients are our most valuable assets, standing as one of the prime pillars towards our growth and the primary driving force behind our ability to innovate. We are deeply committed to prioritising the interests and satisfaction of our clients in every decision and action we undertake. Our commitment to client interests encompasses the following:
∙Competitive offering: We deliver innovative, tailored solutions, with ongoing enhancements to our software and portals.
∙Strong Relationships: We recognise the importance of maintaining strong relationships with our client. We do this by maintaining open lines of communication, addressing concerns promptly, and actively seeking feedback to enhance our services.
∙Accessible support: Clients receive prompt assistance from knowledgeable teams to ensure smooth service delivery.
∙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.
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.
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.
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GIANT PROFESSIONAL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
At Giant Professional Limted, 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:
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.
On behalf of the board.
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GIANT PROFESSIONAL LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MAY 2025
The directors present their annual report and financial statements for the year ended 31 May 2025.
The results for the year are set out on page 1.
Ordinary dividends were £4,500,000 in 2025 (2024: £3,250,000). The directors do not recommend payment of a final dividend for the financial year.
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
M Henry
M McAllister
M Henry
M McAllister
The Giant Professional Limited prudently manages cash and borrowing to maximise interest, minimise costs, and maintain liquidity.
Employee involvement
The Giant Professional Limited values employee involvement, using meetings, feedback, and reviews to drive performance and improvement, supported by ISO 9001-certified quality management practices.
Employee voice and communication
The Giant Professional Limited 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 PROFESSIONAL LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
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.
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.
Giant Professional Limited 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.
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.
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.
Giant Professional Limited 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.
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.
Ongoing training and development plans are in place to ensure directors remain well-informed about company standards, policies, and strategic objectives.
Flexible working remains the company’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.
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GIANT PROFESSIONAL LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
The Giant Professional Limited 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.
Giant Professional Limited is a wholly owned subsidiary of Giant Group Limited. Both the Directors of the company are also the Directors of Giant Group Limited and members of the board.
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.
This report covers the financial year 2024/25 and reflects the operations of the Giant Professional Limited. Following the closure of our office in April 2023, the majority of our workforce has transitioned to remote working. As a result, the Company has directly consumed or controlled minimal energy. Based on our best estimates, energy usage remained below 40,000 kWh, qualifying the company as a low energy user under SECR guidelines. Therefore, full SECR disclosures are not required for the year.
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.
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 489 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.
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.
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GIANT PROFESSIONAL LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
The Board comprises the Group Chief Technical Officer and the Group Chief Financial Officer, both of whom also serve as company directors. In addition, both the Group Chief Executive Officer and Group Chief Operating Officer sit on the Board, 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.
On behalf of the board
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GIANT PROFESSIONAL LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MAY 2025
The directors are responsible for preparing the strategic report, the directors' report and the 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
∙select suitable accounting policies and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company 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 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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GIANT PROFESSIONAL LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GIANT PROFESSIONAL LIMITED
We have audited the financial statements of Giant Professional Limited (the 'company') for the year ended 31 May 2025 which comprise the profit and loss account, the balance sheet, the statement of changes in equity and notes to the financial statements, including 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).
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 company 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.
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GIANT PROFESSIONAL LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GIANT PROFESSIONAL LIMITED (CONTINUED)
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. Our evaluation of the directors assessment of the group's ability to continue to adopt the going concern basis of accounting included using our knowledge of the group, it's industry, and the general economic environment to identify the inherent risks to its business model and analysed how those risks might affect the company's financial resources or ability to continue operations over the going concern period. The risks that we considered most likely to adversely affect the company's available financial resources over this period were:
- Average number of workers on assignment; and
- the regulatory environment surrounding off payroll working as non-compliance with these regulations could be significant.
We considered whether these risks could plausibly affect the liquidity in the going concern period by comparing severe, but plausible, downside scenarios that could arise from these risks individually and collectively against the level of available financial resources indicated by the group's financial forecasts. We considered whether the going concern disclosure in note 1 to the financial statements gives a full and accurate description of the directors' assessment of going concern.
- Average number of workers on assignment; and
- the regulatory environment surrounding off payroll working as non-compliance with these regulations could be significant.
We considered whether these risks could plausibly affect the liquidity in the going concern period by comparing severe, but plausible, downside scenarios that could arise from these risks individually and collectively against the level of available financial resources indicated by the group's financial forecasts. We considered whether the going concern disclosure in note 1 to the financial statements gives a full and accurate description of the directors' assessment of going concern.
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 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.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the 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 strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
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GIANT PROFESSIONAL LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GIANT PROFESSIONAL LIMITED (CONTINUED)
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.
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GIANT PROFESSIONAL LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GIANT PROFESSIONAL LIMITED (CONTINUED)
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 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 company and the industry in which it operates, and considered the risk of acts by the company 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 procedures in relation to fraud included but were not limited to: inquiries 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.
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GIANT PROFESSIONAL LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GIANT PROFESSIONAL LIMITED (CONTINUED)
Auditor's responsibilities for the audit of the financial statements (continued)
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.
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.
This report is made solely to the company'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 company'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 company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Statutory Auditor
Broadwalk House
5th Floor
5 Appold Street
London
EC2A 2AG
Date:
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GIANT PROFESSIONAL LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MAY 2025
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GIANT PROFESSIONAL LIMITED
REGISTERED NUMBER: 07872025
BALANCE SHEET
AS AT 31 MAY 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 24 to 40 form part of these financial statements.
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GIANT PROFESSIONAL LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2025
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GIANT PROFESSIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
Giant Professional Limited is a private company limited by shares incorporated in England and Wales. The registered office is Fourth Floor, 90 High Holborn, London, United Kingdom, WC1V 6LJ.
2.Accounting policies
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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have peen prepared under the historical cost convention. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and the profit and loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have peen prepared under the historical cost convention. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and the profit and loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:
∙Section 7 'Statement of Cash Flows': Presentation of a statement of cash flow and related notes and disclosures;
∙Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues': Interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in the profit and loss and in other comprehensive income;
∙Section 33 'Related Party Disclosures' : compensation for key management personnel.
The financial statements of the company are consolidated in the financial statements of Giant Group Ltd. These consolidated financial statements are available from its registered office, Fourth Floor, 90 High Holborn, London, United Kingdom, WCIV6LJ.
At the balance sheet date, the group had a significant positive cash balance and net current asset position. At the time of signing these accounts, the directors have considered the effect on the going concern position.
The financial forecasts prepared by the directors show that the group will be able to operate within the facilities available to it. The directors consider that the group will continue to operate for a period of at least 12 months from the date of signing these accounts.
On that basis, the directors have prepared these financial statements on a going concern basis.
The financial forecasts prepared by the directors show that the group will be able to operate within the facilities available to it. The directors consider that the group will continue to operate for a period of at least 12 months from the date of signing these accounts.
On that basis, the directors have prepared these financial statements on a going concern basis.
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GIANT PROFESSIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
2.Accounting policies (continued)
There are two types of workers in Giant Professional in terms of their payroll processing frequency i.e., weekly and monthly.
Turnover is recognised for both types of workers based on system generated reports. For weekly workers, the system generated report is based on tax weeks while for monthly workers the report is generated on the tax month (i.e. the period ending on the 5th of each month).
Invoices are raised automatically on submission of timesheets by workers. Amounts are initially debited to a debtors control account and credited to deferred income.
Turnover is then recognised based on worker type as mentioned below.
Turnover is recognised for both types of workers based on system generated reports. For weekly workers, the system generated report is based on tax weeks while for monthly workers the report is generated on the tax month (i.e. the period ending on the 5th of each month).
Invoices are raised automatically on submission of timesheets by workers. Amounts are initially debited to a debtors control account and credited to deferred income.
Turnover is then recognised based on worker type as mentioned below.
∙Weekly workers — turnover is recognised based on the workers who are sent to payroll during a tax week. Turnover is recognised based on system generated reports for all tax weeks that commence within the accounting period (1 June to 31 May).
∙Monthly workers — turnover is recognised for the tax months falling within the accounting period. The accounting period ends on 31 May whereas tax month ends on 5 June, so turnover is recognised based on system generated reports in respect of services carried out by workers that are sent to payroll up to 5 June and turnover is released from deferred income based on these reports. At year end, an amount relating to accrued income is recorded for workers who are sent to payroll after the year end but prior to 5 June.
This methodology for recording turnover is considered to be appropriate by the directors as it would not be practical to apply a cut-off for turnover and the associated cost of those workers as at 31 May.
Other operating income
Other operating income includes a range of management cross charges to other associated groups and companies and where appropriate receipts which are held as credit balances. These balances may be credited in the profit and loss account after a period of six years, if the reasonable efforts to allocate have been unsuccessful.
Other operating income
Other operating income includes a range of management cross charges to other associated groups and companies and where appropriate receipts which are held as credit balances. These balances may be credited in the profit and loss account after a period of six years, if the reasonable efforts to allocate have been unsuccessful.
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 the profit and loss account.
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GIANT PROFESSIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
2.Accounting policies (continued)
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives.
The estimated useful lives range as follows:
Amortisation is included in administrative expenses in the profit and loss account.
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GIANT PROFESSIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
2.Accounting policies (continued)
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:
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the profit and loss account.
Depreciation is included in administrative expenses in the profit and loss account.
At each reporting period end date, the company 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 company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value jn use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in the profit and loss account, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in the profit and loss account, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
Recoverable amount is the higher of fair value less costs to sell and value jn use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in the profit and loss account, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in the profit and loss account, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
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GIANT PROFESSIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
2.Accounting policies (continued)
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Other financial assets
Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, 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 profit and loss account.
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 profit and loss account.
Derecognition of financial assets
Financial assets are derecognjsed 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.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Other financial assets
Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, 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 profit and loss account.
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 profit and loss account.
Derecognition of financial assets
Financial assets are derecognjsed 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.
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GIANT PROFESSIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
2.Accounting policies (continued)
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.
Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in the profit and loss account in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.
Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit and loss account. Debt instruments may be designated as being measured at fair value through the profit and loss account to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.
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.
Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in the profit and loss account in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.
Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit and loss account. Debt instruments may be designated as being measured at fair value through the profit and loss account to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.
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.
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GIANT PROFESSIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
2.Accounting policies (continued)
The company provides a range of benefits to employees, including annual bonus arrangements, paid holiday arrangements and defined contribution pension plans.
Short term benefits
Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received and in line with the associated turnover per he turnover recognition criteria.
Defined contribution payment plans
The company operates a defined contribution pension scheme for the benefit of its employees. The contributions are recognised as an expense when they fall due. Amounts not paid are shown in creditors in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Short term benefits
Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received and in line with the associated turnover per he turnover recognition criteria.
Defined contribution payment plans
The company operates a defined contribution pension scheme for the benefit of its employees. The contributions are recognised as an expense when they fall due. Amounts not paid are shown in creditors in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
The company discloses transactions with related parties which are not wholly owned within the same group. Where appropriate, transactions of a similar nature are aggregated unless, in the opinion of the directors, separate disclosure is necessary to understand the effect of the transactions on the financial statements.
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GIANT PROFESSIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
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 financial statements.
Provisions
It was determined that certain provisions relating to potential obligations were no longer required and an amount of £Nil (2024: £1.2m) was released to cost of sales in the income statement.
Holiday Pay
The company gives its workers a choice of accrued or rolled up holiday pay. The number choosing accrued holiday is very low. Workers with accrued holidays are given regular 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 financial statements.
Analysis of turnover by country of destination:
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GIANT PROFESSIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
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GIANT PROFESSIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
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GIANT PROFESSIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
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GIANT PROFESSIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
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GIANT PROFESSIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
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GIANT PROFESSIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
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GIANT PROFESSIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
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GIANT PROFESSIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
Profit and loss account
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GIANT PROFESSIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
Giant Group Ltd is the immediate parent company. Giant Group Ltd is the largest and smallest group in which Giant Professional Limited is a member and for which consolidated financial statements are prepared and publicly available. A copy of the group financial statements can be obtained from Giant Group Ltd, Fourth Floor, 90 High Holborn, London, United Kingdom, WC IV 6LJ, United Kingdom.
The company's ultimate controlling party is Matthew Brown, a director and majority shareholder of Giant Group Ltd.
The company's ultimate controlling party is Matthew Brown, a director and majority shareholder of Giant Group Ltd.
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