CONDUIT MEAD PROPERTIES LIMITED


Directors	Foster, Nicholas James
	Foster, Thomas Warburton


Company Secretary	FOSTER, Thomas Warburton


Registered Address	1 Ariel Way
	Venture X
	London
	W12 7SL


Registered Number	10604934 (England and Wales)

Balance Sheet as at
30 November 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		3,786		5,060
Investments	4		2,780,000		2,835,000
			2,783,786		2,840,060
Current assets
Debtors		87,868		81,782
Cash at bank and on hand		52,108		58,034
		139,976		139,816
Creditors amounts falling due within one year		(29,202)		(46,250)
Net current assets (liabilities)			110,774		93,566
Total assets less current liabilities			2,894,560		2,933,626
Provisions for liabilities			(16,144)		(30,383)
Net assets			2,878,416		2,903,243
Capital and reserves
Called up share capital			2,690,000		2,690,000
Revaluation reserve			67,519		108,769
Profit and loss account			120,897		104,474
Shareholders' funds			2,878,416		2,903,243

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 15 May 2026, 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 2025

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.

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.

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.

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 machinery	5

	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


		2025		2024
	Average number of employees during the year	2		2

3.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 December 24	20,601
	At 30 November 25	20,601
	Depreciation and impairment
	At 01 December 24	15,541
	Charge for year	1,274
	At 30 November 25	16,814
	Net book value
	At 30 November 25	3,786
	At 30 November 24	5,060

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 (2024 £2,696,916).

		Total
		£
	Cost or valuation
	At 01 December 24	2,835,000
	Revaluations	(55,000)
	At 30 November 25	2,780,000
	Net book value
	At 30 November 25	2,780,000
	At 30 November 24	2,835,000

5.	Directors advances, credits and guarantees

	Brought forward	Amount advanced	Amount repaid	Carried forward
	£	£	£	£
Foster, Thomas Warburton	50,000	0	0	50,000
	50,000	0	0	50,000


	Interest is being charged on the above advance to a director.