SECURE PROPERTY DEVELOPMENT & INVESTMENT PLC

Annual / Quarterly Financial Statement • Oct 2, 2023

National Storage Mechanism | Additional information

Secured Property Developments Plc - Interim financial information for the six-month period ended 30th June 2023

PR Newswire

LONDON, United Kingdom, October 02

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 30thJune 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

29thSeptember 2023

Consolidated Statement of Comprehensive Income

for the period from 1stJanuary 2023 to 30thJune 2023

	Interim 30 Jun 23 (Unaudited)	Interim 30 Jun 22 (Unaudited)	Year ended 31 Dec 22 (Audited)
	£	£	£
Turnover	-	-	-
Gross profit	-	-	-
Administrative expenses	(25,021)	(16,446)	(17,514)
Operating loss	(25,021)	(16,446)	(17,514)
Interest receivable	1,707	96	754
Loss on ordinary activities before taxation	(23,314)	(16,350)	(16,760)
Taxation	-	-	-
Loss on ordinary activities after taxation	(23,314)	(16,350)	(16,760)
Loss per share	(1.18)	(0.83)	(0.85)

Consolidated Statement of Financial Position

at 30thJune 2023

	Interim 30 Jun 23 (Unaudited)	Interim 30 Jun 22 (Unaudited)	Year ended 31 Dec 22 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 due within one year	(36,778)	(48,896)	(22,366)
	________	________	________
Net current assets	345,649	379,799	368,963
	________	________	________
Total assets less current liabilities	345,649	379,799	368,963
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
	\=======	\=======	\=======

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