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CONDUIT MEAD PROPERTIES LIMITED

Registered Number
10604934
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2024

CONDUIT MEAD PROPERTIES LIMITED
Company Information
for the year from 1 December 2023 to 30 November 2024

Directors

Foster, Nicholas James
Foster, Thomas Warburton

Company Secretary

Foster, Thomas Warburton

Registered Address

1 Venture X
Ariel Way
London
W12 7SL

Registered Number

10604934 (England and Wales)
CONDUIT MEAD PROPERTIES LIMITED
Balance Sheet as at
30 November 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets35,0604,794
Investments42,835,0002,835,000
2,840,0602,839,794
Current assets
Debtors81,78275,344
Cash at bank and on hand58,03478,822
139,816154,166
Creditors amounts falling due within one year(46,250)(62,601)
Net current assets (liabilities)93,56691,565
Total assets less current liabilities2,933,6262,931,359
Provisions for liabilities(30,383)(27,559)
Net assets2,903,2432,903,800
Capital and reserves
Called up share capital2,690,0002,690,000
Revaluation reserve108,769110,525
Profit and loss account104,474103,275
Shareholders' funds2,903,2432,903,800
The financial statements were approved and authorised for issue by the Board of Directors on 28 April 2025, and are signed on its behalf by:
Foster, Nicholas James
Director
Registered Company No. 10604934
CONDUIT MEAD PROPERTIES LIMITED
Notes to the Financial Statements
for the year ended 30 November 2024

1.Accounting policies
Statutory information
The company is a private company, limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover represents rent receivable.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses to profit or loss in the period to which they relate. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Current taxation
Current tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income. Current and deferred tax assets and liabilities are not discounted. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for investment property where the tax rate that applies to the sale of the asset is used.
Tangible fixed assets and depreciation
Plant and machinery is stated in the balance sheet at cost less amounts in respect of depreciation. Depreciation is calculated so as to write off the cost of an asset over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery5
Investments
Investment properties are initially measured at cost which includes purchase cost and any directly attributable expenditure. Investment properties are measured at fair value. The surplus or deficit arising on the revaluation of investment properties at their fair values are recognised in the profit and loss account.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 December 2319,581
Additions1,536
Disposals(516)
At 30 November 2420,601
Depreciation and impairment
At 01 December 2314,787
Charge for year1,270
On disposals(516)
At 30 November 2415,541
Net book value
At 30 November 245,060
At 30 November 234,794
4.Fixed asset investments
The investment properties are valued annually by the directors on an open market existing use basis. The historical cost of the investment properties amounts to £2,696,916 (2023 £2,696,916).

Total

£
Cost or valuation
At 01 December 232,835,000
At 30 November 242,835,000
Net book value
At 30 November 242,835,000
At 30 November 232,835,000
5.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
Foster, Thomas Warburton50,0000050,000
50,0000050,000
Interest is being charged on the above advance to a director.