H. B. PROPERTIES PLC
LSE : HBPO

October 28, 2013 14:10 ET

Final Results for the year ended 28 February 2013

H. B. PROPERTIES PLC (FORMERLY HANSEATIC & BALTIC PROPERTIES PLC)

RESULTS FOR THE YEAR ENDED 28 FEBRUARY 2013



Chairman's statement
On  behalf of the Board of Directors of H. B. Properties Plc, I have the pleasure of presenting to you  the
results of the company for the year to 28 February 2013.

Overview
The accounts for year to 28 February 2013 showed a profit of GBP273,124, after impairment of GBP807,700  in
respect of the investment in Total International Investments Limited (GBP675,700 prior impairment provision
was reversed in 2012).

Outlook
The  company is well positioned to seek property investments both in Far East and other parts of the  world
which offer high growth opportunities to enhance shareholder value.   We are maintaining a tight control of
the Company's resources, which we consider adequate to support current levels of expenditure.

The refurbishment of the apartment at 18 Grosvenor Square is almost complete and with the rise in value  of
super-prime  properties  in Central London the company expects to net circa GBP500,000  of  profit  on  its
investment of GBP700,000, when sold.



L.E.V. Knifton

Director

28 October 2013


The Directors of the Issuer accept responsibility for this announcement.

FOR FURTHER INFORMATION PLEASE CONTACT:

Leo Knifton
H. B. Properties PLC (formerly Hanseatic & Baltic Properties Plc)
Finsgate
5-7 Cranwood Street
London
EC1V 9EE

Tel:  +44 (0) 20 7309 2281
Fax: +44 (0) 20 7566 0023

Nick Michaels
Alfred Henry Corporate Finance Limited
Tel:  +44 (0) 20 7251 3762



GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR TO 28 FEBRUARY 2013
 
                                                                           2013              2012
                                                              Notes         GBP               GBP
                                                                                          
Turnover                                                                      -                 -
Cost of sales                                                                 -                 -
Investment income                                                     1,259,613                 -
                                                                      ---------          --------
Gross profit                                                          1,259,613                 -
                                                                                          
Administrative expenses                                                (121,245)          (38,798)
                                                                      ---------          --------
                                                                                          
Operating profit/(loss)                                               1,138,368           (38,798)
Provision against investment                                           (807,700)           (9,000)
Provision against investment written back                                     -           675,700
Interest income                                                          93,369                 -
Interest expense                                                        (50,913)                -
Funding facility fee                                                   (100,000)                -
                                                                      ---------          --------
Profit on ordinary activities before taxation                           273,124           627,902
                                                                                          
Tax on profit on ordinary activities                                          -                 -
                                                                      ---------          --------
Profit for the year                                                     273,124           627,902
                                                                      =========          ========
                                                                                          
Profit per share - Basic                                        2                         
    -       Basic                                                       0.29p             0.67p
    -       Fully diluted                                               0.05p             0.67p
 
 
 All of the activities of the group during the period are classified as continuing.




GROUP BALANCE SHEET
AS AT 28 FEBRUARY 2013

                                                           2013                            2012
                                                       GBP           GBP             GBP            GBP
Fixed Asset                                                                                   
Investments                                                    1,113,749                     1,908,700
                                                                                              
Current assets                                                                                             
Debtors                                          3,086,150                         7,214                      
Cash at bank and in hand                            16,763                        10,182                     
                                                 ---------                      --------
                                                 3,102,913                        17,396                     
                                                                                                           
Creditors: amounts falling due                                                                             
within one year                                    (65,525)                      (98,497)
                                                 ---------                       --------                                                                                                           
Current assets less current                                                                                
liabilities                                                    3,037,388                       (81,101)
                                                               ---------                     ---------         
                                                                                                         
Total assets less current                                                                                  
liabilities                                                    4,151,137                     1,827,599
                                                                                                           
Creditors: amounts falling due                                                                
after more than one year                                      (1,396,003)                      (85,250)
                                                               ---------                     ---------

                                                               2,755,134                     1,742,349

                                                               =========                     =========

Capital and reserves                                                                                       
Called up share capital                                           65,036                        65,036
Share premium                                                  1,917,414                     1,917,414
Loan note equity reserve                                         739,661                             -
Profit and loss account                                           33,023                      (240,101)
                                                               ---------                     ---------          
Shareholders' funds - equity                                                                               
interests                                                      2,755,134                     1,742,349

                                                               =========                     =========
                                                                                                           

NOTES TO THE RESULTS
FOR THE PERIOD ENDED 29 FEBRUARY 2012


1.      The  financial information set out above does not constitute statutory accounts for the purpose  of
Section  434  of the Companies Act 2006.   The financial information has been extracted from the  statutory
accounts  of H. B. Properties PLC (formerly Hanseatic & Baltic Properties Plc) and is presented  using  the
same  accounting policies, which have not yet been filed with the Registrar of companies, but on which  the
auditors gave an unqualified report on 17 October 2013.

The preliminary announcement of the results for the period ended 28 February 2013 was approved by the board
of directors on 24 October 2013.


2.     Earnings per share
Basic  earnings  per share is calculated by dividing the earnings attributable to ordinary shareholders  by
the  weighted  average number of ordinary shares during the period. The weighted average number  of  equity
shares  in  issue  was 93,368,046 (2012 - 93,360,987) and the profit after tax was GBP 273,124  (2012  -GBP
627,902).

Contact Information

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