Secured Property Developments Plc - Interim financial information for the six-month period ended 30th June 2023
October 02 2023 - 9:00AM
PR Newswire (US)
SECURED
PROPERTY DEVELOPMENTS PLC
Unit 6,
Orchard Mews, 42 Orchard Road
Highgate,
London N6 5TR
|
Secured
Property Developments plc
|
|
Interim financial information
For the six-month period
ended 30th
June 2023
(Unaudited)
|
|
Registered
number 02055395
|
|
|
|
|
Secured
Property Developments plc
Interim
financial information for the six-month period ended
30th
June 2023
Chairman’s
Statement
Due to the
uncertainties in the economy with interest rates rising the
commercial and residential property markets have been disrupted and
reset.
Investors have
become more selective and sought higher returns on their
capital.
Some borrowers
requiring to refinance have decided to sell properties rather than
invest further capital and pay the higher rates of interest
required by their bankers.
The recent
pause in interest rate increases by the Bank of England has been welcomed by the markets but
the availability of credit remains tightly controlled by the
banks.
For those with
capital to invest this has created a buying opportunity which has
not existed for some years.
Your board
continue to reduce overheads wherever possible whilst we seek
opportunities to invest the limited amount of capital and review
the opportunities now available to the company.
R.A
Shane
Chairman
29th
September 2023
Consolidated
Statement of Comprehensive Income
for the
period from 1st
January 2023 to 30th
June 2023
|
|
Interim
30
Jun 23
(Unaudited)
|
Interim
30
Jun 22
(Unaudited)
|
Year
ended
31
Dec 22
(Audited)
|
|
|
£
|
£
|
£
|
|
|
|
|
|
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Turnover
|
-
|
-
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-
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|
|
|
|
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|
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Gross profit
|
-
|
-
|
-
|
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Administrative
expenses
|
(25,021)
|
(16,446)
|
(17,514)
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|
|
|
|
|
|
Operating loss
|
(25,021)
|
(16,446)
|
(17,514)
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|
|
|
|
|
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Interest
receivable
|
1,707
|
96
|
754
|
|
|
|
|
|
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Loss on ordinary activities before
taxation
|
(23,314)
|
(16,350)
|
(16,760)
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|
|
|
|
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Taxation
|
-
|
-
|
-
|
|
|
|
|
|
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Loss on ordinary activities after
taxation
|
(23,314)
|
(16,350)
|
(16,760)
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|
|
|
|
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Loss per share
|
(1.18)
|
(0.83)
|
(0.85)
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Consolidated
Statement of Financial Position
at
30th
June 2023
|
|
Interim
30
Jun 23
(Unaudited)
|
Interim
30
Jun 22
(Unaudited)
|
Year
ended
31
Dec 22
Audited)
|
|
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£
|
£
|
£
|
|
Fixed assets
|
|
|
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Tangible
assets
|
-
|
-
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-
|
|
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|
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Current assets
|
|
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Debtors
|
6,101
|
7,650
|
7,864
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Cash
at bank and in hand
|
376,326
|
421,045
|
383,465
|
|
|
________
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________
|
________
|
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|
382,427
|
428,695
|
391,329
|
|
|
|
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Creditors:
amounts falling
due within one year
|
(36,778)
|
(48,896)
|
(22,366)
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|
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________
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________
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________
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Net current assets
|
345,649
|
379,799
|
368,963
|
|
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________
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________
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________
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Total assets less current liabilities
|
345,649
|
379,799
|
368,963
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|
|
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Creditors: amounts falling
due after more than one year
|
-
|
-
|
-
|
|
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________
|
________
|
________
|
|
|
345,649
|
379,799
|
368,963
|
|
|
=======
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=======
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=======
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Capital and reserves
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|
|
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Called up share
capital
|
418,861
|
418,861
|
418,861
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Share
premium
|
3,473
|
3,473
|
3,473
|
|
|
|
|
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Profit and loss
account
|
(76,685)
|
(42,535)
|
(53,371)
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|
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________
|
________
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________
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Shareholders’ funds
|
345,649
|
379,799
|
368,963
|
|
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======= |
=======
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======= |
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