Half-yearly Report

Secured Property Developments plc          
                                                     
                  Unaudited financial statements for the period from  
                       1st January 2012 to 30th June 2012          
                                                     
                             Registered number 2055395              
                                                     

Chairman's Statement

Rental income and gross profit have reduced due to a vacant unit at 11
Newborough Scarborough and increased administration costs.
With effect from 23rd October 2012 11 Newborough Scarborough has been relet to
Eden Mobility Limited a multiple retailer specialising in mobility scooters and
aids for the elderly and infirm. The current difficult economic conditions have
caused increased administration costs in managing rent recovery, dilapidation
claims and restructuring of leases. The Board remains interested in the
residential project at Sandbanks, Bournemouth, but to date its efforts to
finance the scheme have been thwarted by the current freeze on bank lending for
speculative development projects. The Board continues to review other
development/investment opportunities with the aim of growing Company revenue
and providing returns to shareholders.

David Duffield

Chairman 29th October 2010

Unaudited profit and loss account
for the period from 1stJanuary 2012 to 30th June 2012

                                    2012      2012      2011      2011         
                                                                               
                                    £         £                   £            
                                                                               
Turnover                                      64,584              69,123       
                                                                               
Cost of sales                                 (4,250)             (4,646)      
                                                                               
                                              ______              _______      
                                                                               
Gross profit                                  60,334              64,477       
                                                                               
Administrative expenses                       (75,234)            (34,938)     
                                                                               
                                              ______              _______      
                                                                               
Operating (loss)/profit                       (14,900)            29,539       
                                                                               
Interest receivable                 1,407               1,635                  
                                                                               
Interest payable                    (52,175)            (51,688)               
                                                                               
                                    ______              ______                 
                                                                               
                                              (50,768)            (50,053)     
                                                                               
                                              ______              _______      
                                                                               
Loss on ordinary activities before            (65,668)            (20,514)     
taxation                                                                       
                                                                               
Taxation                                      -                   -            
                                                                               
                                              ______              _______      
                                                                               
Loss on ordinary activities after             (65,668)            (20,154)     
taxation                                                                       
                                                                               
                                              ======              ======       
                                                                               
Loss per share                                (3.39)p             (1.04)p      
                                                                               

Unaudited Balance sheet
at 30thJune 2012

                                    2012      2012        2011       2011       
                                                                                
                                    £         £           £          £          
                                                                                
Fixed assets                                                                    
                                                                                
Tangible assets                               2,110,000              2,110,000  
                                                                                
Current assets                                                                  
                                                                                
Debtors                             60,851                50,813                
                                                                                
Cash at bank and in hand            429,705               548,331               
                                                                                
                                    _______               _______               
                                                                                
                                    490,556               600,144               
                                                                                
Creditors: amounts falling due      (86,250)              (79,424)              
within one year                                                                 
                                                                                
                                    _______               _______               
                                                                                
Net current assets                            404,306                520,720    
                                                                                
                                               _________              _______    
                                                                                
Total assets less current                     2,514,306              2,630,720  
liabilities                                                                     
                                                                                
Creditors: amounts falling due                (1,500,000)            (1,500,000)
after more than one year                                                        
                                                                                
                                                _______                _______    
                                                                                
Net assets                                    1,014,306              1,130,720  
                                                                                
                                                =======                =======
                                                                                
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                       (69,889)               46,525     
                                                                                
                                                ______                 _______    
                                                                                
Shareholders' funds                           1,014,306              1,130,720  
                                                                                
                                               ========                =======