Hi mate, many thanks for the response.
Car has not lost any coolant from what I can tell plus it was doing this a few weeks back before i took the head back off and got the head work done. I fitted it all back up with another new gasket & bolts. I knew the valve guides weren't great so made the decision to remove the head and get it done while I was waiting for my paintwork to be finished. I think that kind of rules the head gasket out - i hope.
I'm certain it is water as you say. Sometimes get a drip from the tail pipe and bumper gets condensated a bit.
The car has not been outside for more than 5 mins in the last year so rain can't be the cause but it has idled a fair bit recently.
I guess and hope it must just be a load of water in the exhaust system but can't drive it around for any length of time until it has an mot - as much as I'd like to!
May remove the exhaust and see if anything pours out.
Thanks
Brad