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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 May 2018 |
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for
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Giant Accounts Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 May 2018 |
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for
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Giant Accounts Limited |
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Giant Accounts Limited (Registered number: 06066296)
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Contents of the Financial Statements
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for the Year Ended 31 May 2018
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Page
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Company Information
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1
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Balance Sheet
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2
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Notes to the Financial Statements
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4
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Giant Accounts Limited
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Company Information
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for the Year Ended 31 May 2018
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DIRECTORS:
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REGISTERED OFFICE:
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REGISTERED NUMBER:
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Giant Accounts Limited (Registered number: 06066296)
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Balance Sheet
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31 May 2018
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2018
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2017
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Notes
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£
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£
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CURRENT ASSETS
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Debtors
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5
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Cash at bank
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CREDITORS
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Amounts falling due within one year
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6
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NET CURRENT ASSETS
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TOTAL ASSETS LESS CURRENT
LIABILITIES
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CAPITAL AND RESERVES
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Called up share capital
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7
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Capital redemption reserve
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8
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Retained earnings
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8
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SHAREHOLDERS' FUNDS
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The directors of the company have elected not to include a copy of the profit & loss account within the financial statements.
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The directors acknowledge their responsibilities for:
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(a)
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complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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Giant Accounts Limited (Registered number: 06066296)
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Balance Sheet - continued
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31 May 2018
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
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The financial statements were approved by the Board of Directors on
signed on its behalf by:
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Giant Accounts Limited (Registered number: 06066296)
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Notes to the Financial Statements
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for the Year Ended 31 May 2018
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1.
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STATUTORY INFORMATION
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Giant Accounts Limited is a private limited company, limited by shares, registered in England
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and Wales. The company's registered office address is 3 Harbour Exchange Square, London,
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E14 9TQ.
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2.
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ACCOUNTING POLICIES
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Basis of preparing the financial statements
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These financial statements have been prepared in accordance with the provisions of Section
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1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard
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applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial
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statements have been prepared under the historical cost convention.
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Turnover
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Turnover is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets
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Depreciation is provided at the following annual rates in order to write off each asset over its |
estimated useful life. |
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Computer equipment - 33.33% p.a. on cost |
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Financial instruments
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Financial liabilities and equity are classified according to the substance of the financial |
instrument's contractual obligations, rather than its legal form. |
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The company's cash at bank and in hand and trade and other debtors and its trade and other |
creditors are measured initially at the transaction price, including transaction costs, and |
subsequently at amortised cost |
using the effective interest method. Debt instruments that are payable or receivable within one |
year are measured at the undiscounted amount of the cash or other consideration expected to |
be paid or received. |
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Taxation
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Taxation for the year comprises current and deferred tax. Tax is recognised in the Income |
Statement, except to the extent that it relates to items recognised in other comprehensive |
income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have |
been enacted or substantively enacted by the balance sheet date. |
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Giant Accounts Limited (Registered number: 06066296)
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Notes to the Financial Statements - continued
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for the Year Ended 31 May 2018
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2.
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ACCOUNTING POLICIES - continued
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Deferred tax
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Deferred tax is recognised in respect of all timing differences that have originated but not |
reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in |
periods different from those in which they are recognised in financial statements. Deferred tax |
is measured using tax rates and laws that have been enacted or substantively enacted by the |
year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is |
probable that they will be recovered against the reversal of deferred tax liabilities or other |
future taxable profits. |
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Pension costs and other post-retirement benefits
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The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to profit or loss in the period to which they relate. |
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3.
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EMPLOYEES AND DIRECTORS
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The average number of employees during the year was
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4.
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TANGIBLE FIXED ASSETS
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Computer
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equipment
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£
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COST
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At 1 June 2017
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and 31 May 2018
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DEPRECIATION
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At 1 June 2017
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and 31 May 2018
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NET BOOK VALUE
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At 31 May 2018
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At 31 May 2017
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Giant Accounts Limited (Registered number: 06066296)
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Notes to the Financial Statements - continued
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for the Year Ended 31 May 2018
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5.
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DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
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2018
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2017
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£
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£
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Trade debtors
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Other debtors
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Social security and other tax
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24,039
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-
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Prepayments and accrued income
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6.
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CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
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2018
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2017
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£
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£
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Trade creditors
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Tax
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Social security and other taxes
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Other creditors
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Accruals and deferred income
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7.
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CALLED UP SHARE CAPITAL
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Allotted, issued and fully paid:
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Number:
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Class:
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Nominal
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2018
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2017
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value:
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£
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£
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Ordinary
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1
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800
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800
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8.
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RESERVES
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Capital
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Retained
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redemption
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earnings
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reserve
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Totals
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£
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£
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£
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At 1 June 2017
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293,238
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Profit for the year
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Dividends
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(
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(
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At 31 May 2018
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494,914
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Giant Accounts Limited (Registered number: 06066296)
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Notes to the Financial Statements - continued
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for the Year Ended 31 May 2018
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9.
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RELATED PARTY DISCLOSURES
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Included in expenditure is an amount totalling £224,877 (2017 -£320,128) relating to services
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provided by Giant Professional Limited, a subsidiary of Giant Group PLC, in which the
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director has an interest.
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Included in creditors is an amount of £732 (2017- £305) due to Giant Professional Limited.
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There is also a debtor balance of £Nil (2017- £38,419) outstanding to Giant Professional
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Limited as at year end date.
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Included in expenditure is an amount of £244,550 (2017- £94,844) relating to services
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provided by Giant Precision Limited, a company in which one of the directors, Mark
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McAllister, has an interest.
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Included in creditors is an amount of £Nil (2017- £89,374) due to Giant Precision Limited.
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