PR Newswire
London, August 23
Secured Property Developments plc |
Unaudited financial statements for the period from 1st January 2015 to 30th June 2015 |
Registered number 2055395 |
Chairman’s Statement
During the first half of 2015 two shop properties were sold at Scarborough and one at York. A gain was achieved on these disposals and this is reflected in the exceptional item appearing in the accounts of £159,620.
The turnover for the first half of 2015 is less than the corresponding period last year as a result of the property disposals in the period and the interest charge in the period is also reduced as a result of the company having repaid in full its outstanding loan with RBS.
The Company continues to manage the remaining shop property at Scarborough which is held for future sale.
I wish to thank David Duffield our former Chairman who retired from office on 31st July 2015 for his wise counsel over the years and particularly for his guidance and advice in connection with the RBS Swap Claim.
The outcome of the outstanding claims against RBS for consequential loss and additional tax continues and is taking longer than expected to be settled.
On 29th July 2015 George Green one of our longest serving directors retired from office and I wish to thank him for his service to the company over the years.
Desert Gold Ventures Inc.
0,0465
€
-15,5% |
Frasers Group plc ADR
- 0,00% |
All the resolutions proposed at the annual general meeting were passed and trading with Crest Settlement has now commenced following the appointment of Avenir Registrars.
I will be serving as Interim Chairman pending the appointment of a new Chairman whose mandate will be to execute the strategy to focus on residential property.
R.A.Shane
Interim Chairman
26th August 2015
Unaudited profit and loss account
for the period from 1st January 2015 to 30th June 2015
2015 | 2015 | 2014 | 2014 | |
£ | £ | £ | £ | |
Turnover | 48,668 | 68,500 | ||
Cost of sales | (1,618) | (1,597) | ||
_______ | _______ | |||
Gross profit | 47,050 | 67,903 | ||
Administrative expenses Exceptional Item | (74,084) 159,620 | (59,328) 476,309 | ||
_______ | _______ | |||
Operating profit/(loss) | 132,586 | 484,884 | ||
Interest receivable | 1,431 | 1,251 | ||
Interest payable | (11,100) | (51,682) | ||
_______ | _______ | |||
(9,669) | (50,431) | |||
_______ | _______ | |||
Profit on ordinary activities before taxation | 122,917 | 434,453 | ||
Taxation | (31,270) | (63,729) | ||
_______ | _______ | |||
Profit on ordinary activities after taxation | 91,647 | 370,724 | ||
======= | ======= | |||
Profit per share | 4.64 p | 18.8p | ||
======= | ======= |
Unaudited Balance sheet
at 30th June 2015
2015 | 2015 | 2014 | 2014 | |
£ | £ | £ | £ | |
Fixed assets | ||||
Tangible assets | 300,000 | 1,550,000 | ||
Current assets | ||||
Debtors | 22,902 | 44,197 | ||
Cash at bank and in hand | 621,387 | 832,754 | ||
_______ | _______ | |||
644,289 | 876,951 | |||
Creditors: amounts falling due within one year | (259,234) | (1,724,230) | ||
_______ | _______ | |||
Net current assets | 385,055 | (847,279) | ||
_______ | _______ | |||
Total assets less current liabilities | 685,055 | 702,721 | ||
Creditors: amounts falling due after more than one year | - | - | ||
_______ | _______ | |||
Net assets | 685,055 | 702,721 | ||
======= | ======= | |||
Capital and reserves | ||||
Called up share capital | 418,861 | 418,861 | ||
Share premium account | 3,473 | 3,473 | ||
Revaluation reserve | 3,742 | 101,861 | ||
Profit and loss account | 258,979 | 178,526 | ||
_______ | _______ | |||
Shareholders’ funds | 685,055 | 702,721 | ||
======= | ======= |
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