Hanseatic & Baltic Properties plc
LSE : HBPO

May 31, 2011 09:10 ET

Final Results year to 31 December 2010

HANSEATIC & BALTIC PROPERTIES PLC
RESULTS FOR THE YEAR ENDED 31 DECEMBER 2010


Chairman's statement
On behalf of the Board of Directors of Hanseatic & Baltic Properties Plc, I have the pleasure of presenting
to you the results of the company for the year ended 31 December 2010.

Overview
The  accounts for the year to 31 December 2010 showed a loss of GBP733,899, after impairment of  GBP675,700
in the investment in Total International Investments Ltd.

Immediately  after  the financial year end, the company acquired as an additional investment  approximately
45%  of Haeng Bok (Happy) DNC Plc, a property company incorporated in South Korea.  This is consistent with
our ongoing strategy to acquire shares in Far East property companies.

Outlook
The  company  continues 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.


L.E.V. Knifton
Director

31 May 2011


The Directors of the Issuer accept responsibility for this announcement.

FOR FURTHER INFORMATION PLEASE CONTACT:

Leo Knifton
Hanseatic & Baltic Properties PLC
Finsgate
5-7 Cranwood Street
London
EC1V 9EE

Tel:  +44 (0) 20 7309 2280
Fax:  +44 (0) 20 7566 0023

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



PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2010
 
                                                                        2010              2009
                                                             Notes       GBP               GBP
                                                                                          
Turnover                                                                   -             3,250
Cost of sales                                                              -                 -
                                                                     -------           -------
Gross profit                                                               -             3,250
                                                                                          
Administrative expenses                                              (58,199)          (12,498)
                                                                     -------           -------
                                                                                          
Operating loss                                                       (58,199)           (9,248)
Interest received                                                          -                 -
Provision against investment                                        (675,700)                -
                                                                     -------           -------
                                                                                          
Loss on ordinary activities before taxation                         (733,899)           (9,248)
                                                                                          
Tax on loss on ordinary activities                                         -                 -
                                                                     -------           -------
                                                                        -                 -
Loss for the year                                                   (733,899)           (9,248)
                                                                     =======           =======
                                                                                          
Loss per share - Basic                                         2       (0.8p)           (0.01p)
                                                                                          
 
 
The profit and loss account has been prepared on the basis that all operations are continuing operations.
 
There are no recognised gains and losses other than those passing through the profit and loss account.


BALANCE SHEET
AS AT 31 DECEMBER 2010


                                                             2010                          2009
                                                      GBP            GBP            GBP            GBP
Fixed Asset                                                                                   
Investments                                                    1,232,000                     1,907,700
                                                                                              
                                                                                              
Current assets                                                                                
Debtors                                             1,175                             -              
Cash at bank and in hand                            9,852                           129            
                                                  -------                       -------                 
                                                   11,027                           129            
                                                                                                
Creditors: amounts falling due within                                                         
one year                                          (53,330)                      (34,233)
                                                  -------                       -------        
                                                                                              
Current assets less current                                                                   
liabilities                                                      (42,303)                      (34,104)
                                                               ---------                     ---------
Total assets less current liabilities                                                         
                                                               1,189,697                     1,873,596
                                                                                              
Creditors: amounts falling due after                                                          
more than one year                                               (85,250)                      (35,250)
                                                               ---------                     ---------
                                                               1,104,447                     1,838,346
                                                               =========                     =========
Capital and reserves                                                                          
Called up share capital                                           65,026                        65,026
Share premium                                                  1,907,424                     1,907,424
Profit and loss account                                         (868,003)                     (134,104)
                                                               ---------                     ---------
Shareholders' funds - equity                                                                  
interests                                                      1,104,447                     1,838,346
                                                               =========                     =========
                                                                                              

1.      The  financial information set out above does not constitute statutory accounts for the purpose  of
Section  240  of the Companies Act 1985.   The financial information has been extracted from the  statutory
accounts  of  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 31 May 2010.

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 92,368,046 (2009 - 65,809,322)and the loss after tax was GBP 733,899 (2009 - GBP 9,248).

Contact Information

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