SECURED PROPERTY DEVELOPMENTS PLC - Half-year Report
Freitag, 20.07.2018 13:00 von PR Newswire
PR Newswire
London, July 19
| 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
16th July 2018
Unaudited profit and loss account
for the period from 1st January 2018 to 30th June 2018
| 2018 | 2018 | 2017 | 2017 | |
| £ | £ | £ | £ | |
| Turnover | - | - | ||
| Cost of sales | - | - | ||
| Gross profit | - | - | ||
| Administrative expenses Exceptional Item |
(47,785) - |
(32,461) - |
||
| Operating (loss)/profit | (47,785) | (32,461) | ||
| Interest receivable | 13,462 | 20,482 | ||
| Interest payable | - | - | ||
| _______ | ||||
| 13,462 | 20,482 | |||
| (Loss) on ordinary activities before taxation | (34,323) | (11,979) | ||
| Taxation | - | - | ||
| (Loss) on ordinary activities after taxation | (34,323) | (11,979) | ||
| ====== | ====== | |||
| (Loss) per share | (1.72)p | (0.60)p | ||
Unaudited Balance sheet
at 30th 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 year | (34,614) | (48,521) | ||
| 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 | ||