OrganizationsPublic-source relationship evidence; no misconduct conclusion
Conjecture accounts report a loan-to-equity restructuring with its parent
Period or event: Transaction dated April 30, 2024; Calendar-year 2024 accounts filed October 14, 2025. · Reviewed September 12, 2026 · Record sanders-conjecture-parent-restructuring-2024
Conjecture Ltd’s accounts identify Conjecture Inc as ultimate parent and describe settling an intragroup loan by issuing shares. This is a disclosed Conjecture-group transaction. The selected notes do not name ControlAI as a payee.
What the source records
Ultimate parent named
Conjecture IncNote 17; no foreign jurisdiction inferred from inconsistent source wording.
Loan figure stated in note 13
£20,864,437Described as settled against shares; not evidence of a new cash transfer on that date.
An FRS 101 exemption is invokedNote 16 reports ordinary-course related-party transactions and invokes an FRS 101 exemption concerning transactions with wholly owned subsidiaries. It does not provide a complete transaction ledger.
Scope & limitations
The source supports a Conjecture Inc–Conjecture Ltd relationship, not a Conjecture–ControlAI transaction or Sanders payment.
Loan conversion, share capital, annual fundraising and cash expenditure are different measures and must not be added.
The £7 discrepancy and other presentation issues are preserved as source limitations, not evidence of fraud.
An exemption or lack of a named ControlAI transaction cannot establish that no such transaction occurred. Further accounting records would be required.
Printed pages 17–18 / PDF pages 19–20: notes 13,14,16,17.
Source is scanned; relevant pages rendered and visually checked. Filing date October 14, 2025 from filing history. Note 13 loan amount differs by £7 from note 14 share count times £10; preserve source figures without a reconciled cash-flow claim. Related-party exemption limits completeness.