SPD Secured Property Developments plc

 
TIDMSPD 
 
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      Interim      Year ended 
 
                     30 Jun 23    30 Jun 22    31 Dec 22 
 
                     (Unaudited)  (Unaudited)  (Audited) 
                     £            £            £ 
 
Turnover             -            -            - 
 
Gross profit         -            -            - 
Administrative       (25,021)     (16,446)     (17,514) 
expenses 
 
Operating loss       (25,021)     (16,446)     (17,514) 
 
Interest receivable  1,707        96           754 
 
Loss on ordinary     (23,314)     (16,350)     (16,760) 
activities before 
taxation 
 
Taxation             -            -            - 
 
Loss on ordinary     (23,314)     (16,350)     (16,760) 
activities after 
taxation 
 
Loss per share       (1.18)       (0.83)       (0.85) 
 
Consolidated Statement of Financial Position 
 
at 30th June 2023 
 
                            Interim      Interim      Year ended 
                            30 Jun 23    30 Jun 22    31 Dec 22 
                            (Unaudited)  (Unaudited) 
                                                      Audited) 
                            £            £            £ 
Fixed assets 
Tangible assets             -            -            - 
 
Current assets 
Debtors                     6,101        7,650        7,864 
Cash at bank and in hand    376,326      421,045      383,465 
                            ________     ________     ________ 
                            382,427      428,695      391,329 
 
Creditors: amounts falling  (36,778)     (48,896)     (22,366) 
due within one year 
                            ________     ________     ________ 
Net current assets          345,649      379,799      368,963 
                            ________     ________     ________ 
Total assets less current   345,649      379,799      368,963 
liabilities 
 
Creditors: amounts falling  -            -            - 
due after more than one 
year 
                            ________     ________     ________ 
                            345,649      379,799      368,963 
                            =======      =======      ======= 
Capital and reserves 
Called up share capital     418,861      418,861      418,861 
Share premium               3,473        3,473        3,473 
 
Profit and loss account     (76,685)     (42,535)     (53,371) 
                            ________     ________     ________ 
Shareholders' funds         345,649      379,799      368,963 
                                =======  =======         ======= 
 
 
This information was brought to you by Cision http://news.cision.com 
 
 
END 
 
 

(END) Dow Jones Newswires

October 02, 2023 10:00 ET (14:00 GMT)

Secured Property Develop... (AQSE:SPD)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Secured Property Develop... (AQSE:SPD)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024