SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-QSB

Quarterly Report under Section 13 or 15 (d)

Of the Securities Exchange Act of 1934

For the quarterly period ended June 30, 2003

Commission file number 000-29243

New Century Resources Corporation

_______________________________________________________________________

(Exact name of small business issuer as specified in its charter)

Nevada                                                                     98-0361773
___________________________                        ________________________________

(State or other jurisdiction of                                (IRS Employer Identification Number)

Incorporation or organization)

23 Themispodis Dervis Street, 3rd Floor

Nicosia, Cyprus

_________________________________________

(Address of principal executive offices)

357-2-816226

_______________________________________________

(Issuer's telephone number, including area code)

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15 (d) of the
Securities Exchange Act of 1934 during the past 12 months (or for such shorter period that the
registrant was required to file such reports) Yes [X] No [ ], and (2) has been subject to such filing
requirements for the past 90 days.  Yes [X] No [ ]

APPLICABLE ONLY TO CORPORATE ISSUERS:

State the number of shares outstanding of each of the issuer's classes of common equity, a of the
latest practicable date:

As of June 30, 2003 the issuer had outstanding 8,481,724 shares of its Common Stock, $0.001
par value.

PART I

ITEM 1.     FINANCIAL STATEMENTS

**Randy Simpson CPA, P.C.**

**11775 South Nicklaus Road**

Sandy, Utah 84092

Fax & Phone (801) 572-3009

Board of Directors and Stockholders

New Century Resources Corporation

Las Vegas, NV 89027

**INDEPENDENT AUDITORS' REVIEW**

I have reviewed the accompanying balance sheets of New Century Resources Corporation as of
June 30, 2003, and the related statements of operations, stockholders' equity and cash flows for
the six months ending June 30, 2003 and June 30, 2002, in accordance with Statements on
Standards of Accounting and Review Services issued by the American Institute of Certified
Public Accountants.  All information included in these financial statements is the representation
of the management of New Century Resources Corporation.

A review consists principally of inquiries of company personnel and analytical procedures
applied to financial data.  It is substantially less in scope than an audit in accordance with
generally accepted auditing standards, the objective of which is the expression of an opinion
regarding the financial statements taken as a whole.  Accordingly, I do not express such an
opinion.

Based on my review, I am not aware of any material modifications that should be made to the
accompanying financial statements in order for them to be in conformity with generally accepted
accounting principles.

Randy Simpson, CPA, P.C.

A Professional Corporation

August 29, 2003

Sandy, Utah

|NEW CENTURY RESOURCES CORPORATION

BALANCE SHEET(Unaudited)                                                 
|------------------------------------------------------------------------------------------------------------
|ASSETS                                                                                                      
|                                                                                                            
|Current Assets:                                                                                             
|Cash - Bank of Cyprus                                                                                       
|Total Current Assets                                                                                        
|Fixed Assets:                                                                                               
|Office furnishings and equipment                                                                            
|Accumulated depreciation                                                                                    
|Total Fixed Assets                                                                                          
|TOTAL ASSETS                                                                                                
|                                                                                                            
|LIABILITIES AND SHAREHOLDERS' EQUITY                                                                        
|                                                                                                            
|Current Liabilities:                                                                                        
|Accounts payable                                                                                            
|Total Current Liabilities                                                                                   
|Shareholders' Equity:                                                                                       
|Preferred stock, $ .001  par value, authorized 50,000,000  shares;
no shares issued                         
|                                                                                                            
|Common stock, $.001 par value, authorized 100,000,000 shares;
8,481,724 shares outstanding at June 30, 2003.
|Additional Paid-In Capital                                                                                  
|Accumulated Deficit                                                                                         
|Total Shareholders' Equity                                                                                  
|Total Liabilities and Shareholders' Equity                                                                  
|                                                                                                            
|See accompanying notes to financial statements.                                                             

|NEW CENTURY RESOURCES CORPORATION              
|-----------------------------------------------
|                                               
|STATEMENTS OF OPERATIONS                       
|(Unaudited)                                    
|                                               
|                                               
|Income:                                        
|Interest income                                
|Total Income                                   
|                                               
|Operating Expense:                             
|Legal fees                                     
|Accounting and audit fees                      
|General & administrative expenses              
|Depreciation expenses                          
|Total Operating Expense                        
|                                               
|Net Loss                                       
|                                               
|Net Loss Per Common Share                      
|(Basic and Fully Diluted)                      
|                                               
|Weighted Average Shares                        
|Common Stock Outstanding                       
|                                               
|                                               
|See accompanying notes to financial statements.

|NEW CENTURY RESOURCES CORPORATION                                            
|-----------------------------------------------------------------------------
|STATEMENTS OF STOCKHOLDERS' EQUITY                                           
|From December 31, 1998 to June 30, 2002                                      
|(Unaudited)                                                                  
|                                                                             
|Balances at December 31,
1998  (restated)                                    
|Net loss for the year ended
December 31, 1999                                
|December 12, 2000;
divestiture of subsidary-G. C.
Gulf Western               
|Trading Limited and debt
elimination                                         
|Net loss for the year ended
December 31, 2000                                
|March 31, 2001; capital
contribution of operations in
the amount of $2750    
|June 30, 2001; capital
contribution of operations in
the amount of $250      
|September  30, 2001; capital
contribution of operations in
the amount of $250
|September  30, 2001; capital
contribution of operations in
the amount of $250
|Net loss for the year ended
December 31, 2001                                
|March 12, 2002; capital
contribution of operations in
the amount of $1,932   
|Net loss from January 1,
2002 through June 30, 2002                          
|Balance at June 30, 2002                                                     
|See accompanying notes to financial statements.                              

|NEW CENTURY RESOURCES CORPORATION               
|------------------------------------------------
|                                                
|STATEMENTS OF CASH FLOWS                        
|(Unaudited)                                     
|                                                
|                                                
|                                                
|                                                
|Cash Used in Operating Activities:              
|Net Loss                                        
|                                                
|Cash Flows used in Operating Activities         
|                                                
|Cash Provided by Financing Activities:          
|Capital contribution for services by shareholder
|Net Increase Cash Flow from Financing Activities
|                                                
|Net Increase in Cash for Period                 
|                                                
|Cash at Beginning of Period                     
|                                                
|CASH AND CASH EQUIVALENTS AT END OF PERIOD      
|                                                
|                                                
|See accompanying notes to financial statements. 

NEW CENTURY RESOURCES CORPORATION

NOTES TO FINANCIAL STATEMENTS

June 30, 2003

A. ORGANIZATION AND ACCOUNTING POLICIES

New Century Resources Corporation divested itself of its 100% owned subsidiary G.C. Gulf
Western Trading Limited (" G.C.") on December 12, 2000, thereby eliminating the Trekkopje
mining claims, a capitalized cost of $10,533,252, the related liabilities amounting to $8,500,000
from its acquisition, the note payable to its principal stockholder, which aggregated, came to a
total of $1,046,640, and any claims to accrued interest. This divestiture was the unanimous
decision of the board of directors, which was based in part, upon the Corporation's inability to
raise the necessary capital to fund the exploration and development of the Trekkopje uranium
reserves. In addition, a feasibility study conducted by Dr. Brian Hambleton played crucial role in
their decision making process, concluding that, due to the current Uranium market, exploitation
of the Uranium reserves on the property would not be financially viable, and did not foresee any
immediate or mid-term prospects in world market conditions and pricing which would lead to a
pricing level justifiable of the exploitation of the Uranium reserves.  The Corporation is now
inactive, and with the elimination of the assets and liabilities of G.C., is without any significant
assets or liabilities.

The Corporation was domiciled to Nevada in January 1994, although it was originally
incorporated in Utah in July 1979 as WEM Petroleum, Inc.  In October 1993, the Corporation
changed its name to New Century Resources Corporation, acquiring 100% of the outstanding
stock of G. C. Gulf Western Trading Limited in exchange for 7,200,000 shares of stock, which
gave the stockholders of G.C. control of the Corporation by which it has conducted its
operations.  The Corporation was inactive for a number of years prior to the merger and,
therefore, accounted for the merger as a reverse merger or recapitalization of G.C.   No goodwill
or other write-up to fair market value of the assets of G.C. occurred at the time of the merger, and
the accounting for the merger approximates the pooling of interests method of accounting.

Income Taxes

The Corporation has incurred losses from inception, and has not been subject to any significant
income taxes ­ foreign or U. S.  The Company has recognized no income tax assets from future
benefits of its loss carryforward, as realization is doubtful. The Corporation has not filed a
consolidated tax return, so it is doubtful that any of its losses will be available for U. S. federal
income tax purposes, as its operating subsidiary, G.C., incurred the majority of the losses in the
development of a Uranium mine in Namibia.

Office Furniture, Equipment and Depreciation

The Corporation's office furniture and equipment are stated at cost. Depreciation has been
provided on the straight-line basis over periods of five to ten years.

Foreign Currency

The Corporation has no significant foreign currency gains or losses in the translation of either
balance sheets or income statements amounts, as the majority of its operations have been
conducted in U.S. dollars.

B.  COMMON STOCK

The Corporation has no stock options or other dilutive stock instruments outstanding.  The
Corporation reverse split its stock 91:1 in October 1993 and redeemed 520,000 shares in the year
ending December 31,1997 for a contribution to capital of $1,425.  The Corporation has had no
other stock transactions since this date.

C.  DIVESTURE OF G.C. GULF WESTERN TRADING LIMITED ­ RESTATEMENT OF
PRIOR ACCOUNTING

On December 12, 2000, the Company divested itself of its 100% owned subsidiary and its
primary stockholder forgave the balance owed him in the amount of  $1,046,640.  The
transaction resulted in a reduction of paid-in capital for the Corporation of $985,938, which is the
amount of the capitalized mineral development costs in excess of the liabilities eliminated.  The
Company had an option to acquire the Klein Trekkopje Uranium deposit in Namibia for
$8,500,000, subject to confirmation of the Uranium reserves through a drilling program.  The
Corporation's prior auditors reflected the option liability price as paid-in capital; however, U.S.
Generally Accepted Accounting Principles (GAAP) requires the liability for the purchase price to
be carried as a liability.  Therefore, the Corporation's paid-in capital was restated reflecting the
reduction of the $8,500,000 option, which has not been exercised to date.

The Corporation has not previously reported its operations or balance sheets under U.S. GAAP,
but has reported its operations under International Accounting Standards.  The Corporation's
prior auditors accrued consulting revenues from its primary shareholder for the amounts he
advanced for operating costs and depreciation expenses.  These accrued revenues, which totaled
$ 3,532 in 1999, were eliminated under U.S. GAAP income recognition. The Company's net loss,
accumulated deficit, and paid-in capital have been increased by this amount.

PART II ­ OTHER INFORMATION

ITEM 1.     LEGAL PROCEEDINGS

None.

ITEM 2.     CHANGE IN SECURITIES

None.

ITEM 3.     DEFAULTS UPON SENIOR SECURITIES

Not applicable.

ITEM 4.     SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

No matters were submitted to a vote of security holders during this time period.

ITEM 5.     OTHER INFORMATION

None.

ITEM 6.     EXHIBITS AND REPORTS ON FORM 8-K

(a) Exhibits

(b) Reports on Form 8-K

None.

SIGNATURES

In accordance with the requirements of the Securities Exchange Act of 1934, the Registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

NEW CENTURY RESOURCES CORPORATION

Date: November 25, 2003

_________________________________________

George Christodoulou

President