At the beginning of our story, the citizens of the town are very afraid of Giant Blunderbore and his servant Flashcreep. The King issed a Royal Decree that whoever defeats the Giant shall marry his daughter, the Princess. Jack Trott, son of Dame Trott agrees to fight the Giant. When Jack hears about this, he decides to build a catapult. However, Fleshcreep hears of Jack's plan to use a catapult to kill the Giant and as a result, fails. The Princess is distraught that she may have to marry someone she does not love.
Soon afterwards, Fleshcreep demands more rent from Dame Trott, which she is unable to pay. In desperation, she decides to sell Caroline, the cow. Jack sets off and meets Fleshcreep disguised as an old woman who persuades Jack to sell Caroline to him for a bag of gold. When Jack returns home, Dame Trott discovers that Jack had been fooled and the cow had been sold for a bag of beans. In distress, she throws the beans out of the window.
The Fairy weaves a spell putting the Dame to sleep and commanding a beanstalk to grow to the skies. She then tells Jack to kill the Giant with the help of a magic sword. Jack climbs the beanstalk but unfortunately, soon after the Princess is captured by Fleshcreep. Jack reaches the castle of Giant Blunderbore under the protection of the Fairy who tells him he must go to the Giant's kitchen and capture the Golden Eggs, taking care not to disturb the crying Harp.
Meanwhile, the King, Simons and the Dame have followed Jack, and arrive at the castle to be told by Fleshcreep that if they are to survive, they will have to entertain the Giant.
Jack enters the Giant's kitchen and disturbs the Harp, which causes the Giant to wake. He fights and kills Blunderbore and with the help of the Fairy, the Princess is freed. Even Fleshcreep with the Fairy's help becomes an honest citizen and they all live happily ever after.