UNITED STATES

                   SECURITIES AND EXCHANGE COMMISSION

                       Washington, D.C. 20549

                             FORM 10-Q
(Mark One)
[ X ]       QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
            OF THE SECURITIES EXCHANGE ACT OF 1934
         For the quarterly period ended September 30, 2007

                                OR

[   ]    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
              OF THE SECURITIES EXCHANGE ACT OF 1934
      For the transition period from ........... to .........

                Commission File Number 0-17214


                       ADMIRAL FINANCIAL CORP.
                       ----------------------

     State of Florida                    I.R.S. No. 59-2806414
     ----------------                    ---------------------

                    7101 Southwest 67 Avenue
                    South Miami, Florida 33143
                    --------------------------

                 Telephone Number: (305) 669-6117
                                   --------------




Indicate by check mark whether the registrant, (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding twelve (12) months (or for such shorter
period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past ninety (90)
days.

               Yes   X                No
                    ---


                  Common Stock $.001 Par Value
	Outstanding Shares at September 30, 2007: 10,985,046


<PAGE>


                    ADMIRAL FINANCIAL CORP. AND SUBSIDIARY

                             TABLE OF CONTENTS

                                FORM 10-Q

                                 PART I

                          FINANCIAL INFORMATION


Item 1.	FINANCIAL STATEMENTS

        Consolidated Balance Sheets                                     1

        Consolidated Statements of Operations                           2

        Consolidated Statements of Cash Flows                           3

        Notes to Consolidated Financial Statements                      4

Item 2.	MANAGEMENT'S DISCUSSION AND ANALYSIS OF
        CONSOLIDATED FINANCIAL CONDITION AND
        RESULTS OF OPERATIONS                                           5



                              PART II

                         OTHER INFORMATION

Item 1. Legal Proceedings                                               8

Item 2. Changes in Securities                                           8

Item 3. Defaults Upon Senior Securities                                 8

Item 4. Submission of Matters to a Vote of Security Holders             8

Item 5. Other Information                                               8

Item 6. Exhibits and Reports on Form 8-K                                8


<PAGE>


                                       PART I  -  FINANCIAL INFORMATION
                                       --------------------------------

                   ADMIRAL FINANCIAL CORP.
                       AND SUBSIDIARY

                  Consolidated Balance Sheets
                          ($Dollars)
<TABLE>
<CAPTION>
                 Assets                                  September 30, 2007   June 30, 2007
                 ------                                    -----------         -----------
                                                           (Unaudited)         (Unaudited)
<S>                                                        <C>                 <C>

Cash                                                       $         0         $         0
Prepaid expenses and other assets                                    0                   0
Net assets of Haven Federal Savings and
     Loan Association (notes 1 and 2)                                0                   0
                                                           -----------         -----------
          Total assets                                     $         0         $         0
                                                           ===========         ===========


Liabilities and Stockholders' (Deficit) Equity
----------------------------------------------

Accrued expenses and other liabilities                     $    23,890         $    23,890
Net liabilities of Haven Federal Savings
     and Loan Association (notes 1 and 2)                            0                   0
                                                           -----------         -----------
          Total liabilities                                     23,890              23,890

Preferred stock, $.01 par value, Authorized
     6,000,000 shares, none outstanding

Common stock, $.001 par value,
     50,000,000 shares authorized,
     10,987,000 shares issued                                   10,987              10,987
     Treasury stock, 1,954 and 1,954 shares, at cost                 0                   0
Additional paid-in capital                                     680,710             680,710
Deficit                                                       (715,587)           (715,587)
                                                           -----------         -----------
          Total stockholders' (deficit) equity                 (23,890)            (23,890)
                                                           -----------         -----------
          Total liabilities and stockholders'
               (deficit) equity                            $         0         $         0
                                                           ===========         ===========
</TABLE>


    See accompanying notes to consolidated financial statements.

                                  1
<PAGE>


                                       PART I - FINANCIAL INFORMATION
                                       ------------------------------

	ADMIRAL FINANCIAL CORP.  AND SUBSIDIARY

	Consolidated Statements of Operations
                     (Unaudited)
<TABLE>
<CAPTION>

                                     Three Months Ended Sept 30
                             -------------------------------------
                                   2007              2006
                                  ------            ------
<S>                             <C>               <C>

Interest Income                         0                  0
Other income                            0                  0
                                ---------          ---------
     Total income                       0                  0

Expense
     Employee Compensation              0                  0
     Other                              0                  0
                                ---------          ---------

     Total expense                      0                  0

     Loss from discontinued
          operation (note 2)            0                  0
                                ---------          ---------
Net loss                        $       0                  0
                                =========          =========
Loss per share                  $    0.00          $    0.00
                                =========          =========

Dividend per share                    ---                ---
                                =========          =========

Weighted average number
   of shares outstanding       10,985,046         10,985,046
                               ==========         ==========
</TABLE>



    See accompanying notes to consolidated financial statements

                                  2
<PAGE>


                                       PART I - FINANCIAL INFORMATION
                                       ------------------------------

             ADMIRAL FINANCIAL CORP.  AND SUBSIDIARY

              Consolidated Statements of Cash Flows
                          (Unaudited)
<TABLE>
<CAPTION>
                                                          Three Months Ended Sept 30
                                                        ------------------------------
                                                               2007           2006
                                                             -------        -------
<S>                                                        <C>            <C>
Cash flows from operating activities:

Net loss                                                   $        0     $        0

Adjustments to reconcile net loss to net cash
   provided by operating activities:

Decrease in deficit arising from confiscation of
   Haven Federal after retroactive disallowance
   of agreed supervisory goodwill and regulatory capital            0              0
Decrease in prepaid expenses and other assets                       0              0
Decrease (increase) in net assets of
   Haven Federal                                                    0              0
(Decrease) in accrued expenses and other liabilities                0              0
(Decrease) Increase in net liabilities of
   Haven Federal                                                    0              0
Amortization of organization expenses                               0              0
                                                           ----------     ----------

Net cash provided (used) by operating activities                    0              0

Cash and cash equivalents, beginning of year                        0              0
                                                           ----------     ----------

Cash and cash equivalents, end of quarter                  $        0     $        0
                                                           ==========     ==========
</TABLE>


    See accompanying notes to consolidated financial statements
                                  3
<PAGE>



                                       PART I - FINANCIAL INFORMATION
                                       ------------------------------

	ADMIRAL FINANCIAL CORP.  AND SUBSIDIARY

	Notes to Consolidated Financial Statements

Note 1.   In the opinion of management, the accompanying
          consolidated financial statements contain all the
          adjustments (principally consisting of normal recurring
          accruals) necessary to present fairly the financial
          statements of Admiral Financial Corp. ('Admiral') and
          Subsidiary.

Note 2.   The net assets of Admiral include the former principal
          operating subsidiary, Haven Federal Savings and Loan
          Association ('Haven').  Therefore, where applicable,
          Haven's net assets and net liabilities are presented in
          the balance sheets in the aggregate; and its loss is
          shown in the aggregate in the Statements of Operations
          for the three month period ended September 30, 2007 and
          2006.



                                       PART I - FINANCIAL INFORMATION
                                       ------------------------------

              ITEM 2 - Management's Discussion and Analysis
     of Consolidated Financial Condition and Results of Operations

General
-------

     ADMIRAL FINANCIAL CORP. ("ADMIRAL"), an inactive corporation, is
currently seeking to recapitalize the Company in order to resume its prior
activities with respect to the acquisition and investment in interest-
earning assets and specialty real estate, as well as other new lines of
business, as yet unidentified.

     This discussion may contain statements regarding future financial
performance and results.  The realization of outcomes consistent with
these forward-looking statements is subject to numerous risks and
uncertainties to the Company including, but not limited to, the
availability of equity capital and financing sources, the availability of
attractive acquisition opportunities once such new equity capital and
financing is secured (if at all), the successful integration and
profitable management of acquired businesses, improvement of operating
efficiencies, the availability of working capital and financing for future
acquisitions, the Company's ability to grow internally through expansion
of services and customer bases without significant increases in overhead,
seasonality, cyclicality, and other risk factors.

     Admiral is presently inactive, other than its efforts to seek a
merger, exchange of capital stock, asset acquisition, recapitalization, or
other similar business combination (a "Recapitalization") with an
operating or development stage business which Admiral management considers
to have growth potential.  Admiral currently receives no cash flow.
Admiral anticipates no capital infusions prior to effectuating a
Recapitalization. Until such time as Admiral effectuates a
Recapitalization, Admiral currently expects that it will incur minimal
future operating costs.

     No officer or director of Admiral is paid any type of
compensation by Admiral and presently, there are no arrangements or
anticipated arrangements to pay any type of compensation to any
officer or director in the near future. Admiral expects that it will
meet its cash requirements until such time as a Recapitalization
occurs. However, in the event Admiral depletes its present cash
reserves, or in the event that Admiral management ceases to perform
it's duties on a non-compensatory basis, Admiral may cease
operations and a Recapitalization may not occur. There are no
agreements or understandings of any kind with respect to any loans
from officers or directors of Admiral on the Company's behalf.



Liquidity and Capital Resources
-------------------------------

Admiral is currently inactive.  Admiral management intends to seek a
new line of business. as yet unidentified.  In connection therewith,
Admiral's management believes that a restructuring of Admiral may be
necessary in order to raise capital for new operations, and any such
restructuring may have a substantial dilutive effect upon Admiral's
existing shareholders.  Admiral has no ongoing financial commitments or
obligations.


                                  4
<PAGE>


Comparison of Three Months Ended September 30. 2007 and 2006
------------------------------------------------------------

Admiral was inactive, and recorded no revenues or expenses during
the period.

                                       PART II - OTHER INFORMATION
                                       ---------------------------
Item 1.   Legal Proceedings

          Admiral did not become involved in any new material legal
          proceedings during the period covered by this report.

Item 2.   Changes in Securities

          Not applicable.

Item 3.   Defaults Upon Senior Securities

          Not applicable.

Item 4.   Submission of Matters to a Vote of Security Holders

          Not applicable.

Item 5.   Other Information

          Not applicable.

Item 6.   Exhibits and Reports on Form 8-k

          Not applicable.






                                  5
<PAGE>


                             SIGNATURES
                             ----------


     Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused the report to be signed on its behalf by
the undersigned thereunto duly authorized.


                                ADMIRAL FINANCIAL CORP.
                                (Registrant)




Date:   November 14, 2007       By: /s/ Wm. Lee Popham
                                    ---------------------------
                                    Wm. Lee Popham, President


Date:   November 14, 2007       By: /s/ Wm. Lee Popham
                                    ---------------------------
                                    Wm. Lee Popham, Principal Financial
                                    and Accounting Officer









                                  6
<PAGE>