Half-yearly Report

SECURED PROPERTY DEVELOPMENTS PLC

Unit 6, 
Orchard Mews, 
42 Orchard Road
Highgate, 
London N6 5TR

Secured Property Developments plc

Unaudited financial statements for the period from 1st January 2010 to 30th
June 2010

Registered number 2055395

Chairman's Statement

Gross profit has reduced due to one of the Group's properties becoming vacant
and a general increase in administrative costs. In the current economic climate
trading conditions remain difficult but every effort is being made to take
advantage of opportunities when they occur.

David Duffield

Chairman

8th October 2010



Unaudited financial statements for the period from 1st January to 30th June
2010 can be compared with those for the same period as follows:


Unaudited profit and loss account for the period from 1st January to 30th June
2010

                            2010         2010         2009         2009
                               £            £            £            £
                                                                       
Turnover                               60,362                    72,052
                                                                       
Cost of sales                         (4,222)                         -
                                                                       
Gross profit                           56,140                    72,052
                                                                       
Administrative                       (41,854)                  (29,293)
expenses                                                               
                                                                       
Operating profit                       14,286                    42,759
                                                                       
Interest receivable        2,309                     3,260             
                                                                       
Interest payable        (51,978)                  (50,778)             
                                                                       
                                     (49,669)                  (47,518)
                                                                       
Loss on ordinary                     (35,383)                   (4,759)
activities before                                                      
taxation                                                               
                                                                       
Taxation                                    -                         -
                                                                       
Loss on ordinary                     (35,383)                   (4,759)
activities after                                                       
taxation                                                               
                                                                       
                                       ======                    ======
                                                                       
Loss per share                        (1.80)p                   (0.02)p




Unaudited Balance sheet at 30th June 2010

                                2010           2010     2009        2009
                                   £              £        £           £
                                                                        
Fixed assets                                                            
                                                                        
Tangible assets                           2,110,000            2,110,000
                                                                        
Current assets                                                          
                                                                        
Debtors                       13,808                  29,095            
                                                                        
Cash at bank and in hand     626,030                 670,726            
                                                                        
                             639,838                 699,821            
                                                                        
Creditors: amounts falling  (59,904)                (56,500)            
due within one year                                                     
                                                                        
Net current assets                          579,934              643,321
                                                                        
                                        ________ __             ________
                                                                        
Total assets less current                 2,689,934            2,753,321
liabilities                                                             
                                                                        
Creditors: amounts falling              (1,500,000)          (1,500,000)
due after more than one                                                 
year                                                                    
                                                                        
Net assets                                1,189,934            1,253,321
                                                                        
Capital and reserves                                                    
                                                                        
Called up share capital                     418,861              418,861
                                                                        
Share premium account                         3,473                3,473
                                                                        
Revaluation reserve                         661,861              661,861
                                                                        
Profit and loss account                     105,739              169,126
                                                                        
Shareholders' funds                       1,189,934            1,253,321