SECURED PROPERTY DEVELOPMENTS PLC - Half-year Report

                  Secured Property Developments plc

Unaudited financial statements for the period from 1st January 2018 to
                            30th June 2018

Registered number 2055395

Chairman’s Statement

Economic uncertainty and political turmoil continues as a result of Brexit and the trade wars started by the US and a number of vendors still remain unrealistic in terms of pricing.

 

While the auction rooms have seen large numbers of investors switching from buy-to-let residential to commercial investments, conditions still remain challenging with investors becoming much more cautious.

 

While a number of opportunities have presented themselves to the Board, we have, as yet, been unable to recommend anything worth pursuing at the right price level.

 

We will continue to monitor the market and all potential acquisitions and feel confident that we will secure something suitable during the course of the next six months.

John P Townsend

CHAIRMAN

16^th July 2018

Unaudited profit and loss account

for the period from 1^st January 2018 to 30^th June 2018

                                     2018   2018     2017          2017

                                     £      £        £             £

Turnover                                    -                      -

Cost of sales                               -                      -

Gross profit                                -                      -

Administrative expenses                     (47,785)               (32,461)
Exceptional Item                            -                      -

Operating (loss)/profit                     (47,785)               (32,461)

Interest receivable                  13,462          20,482

Interest payable                     -               -

                                                     ­­­­­ _______

                                            13,462                 20,482

(Loss) on ordinary activities before        (34,323)               (11,979)
taxation

Taxation                                    -                      -

(Loss) on ordinary activities after         (34,323)               (11,979)
taxation

                                            ======                 ======

(Loss) per share                            (1.72)p                (0.60)p

Unaudited Balance sheet

at 30^th June 2018

                                          2018     2018     2017     2017

                                          £        £        £        £

Fixed assets

Tangible assets                                    -                 -

Current assets

Debtors                                   18,740            414,735

Cash at bank and in hand                  627,308           310,443

                                          646,048           725,178

Creditors: amounts falling due within one (34,614)          (48,521)
year

Net current assets                                 611,434           676,657

                                                   ________          ________

Total assets less current liabilities              611,434           676,657

Creditors: amounts falling due after more          -                 -
than one year

Net assets                                         611,434           676,657

Capital and reserves

Called up share capital                            418,861           418,861

Share premium account                              3,473             3,473

Profit and loss account                            189,100           254,323

Shareholders’ funds                                611,434           676,657