The K100 has been laid up for about 10 years , before that all was well , it only had the centre stand fitted .
I have now fitted a side stand , I started the engine from when it was on the Centre stand , no smoke .

Left the bike on the Side stand for about 4 hours , started it again , and smoke is coming out the exhuast , and a few drops of oil from the exhuast joint .

Plus I did notice a small amount of cream coloured cream around the oil filler hole , so I took the sump off , and had a look , cream was just by the filler hole , rest of the sump was very clean , did a oil and filter change , no cream or grey in the oil , 

Have only started the engine a few times , and noticed the cream is back by the oil filler hole !

Engine has about 56k miles on it .

Is the cream normal , I am thinking condensation , I had a Opel manta that did the same .

Or could it be a head gasket , and that's why oil is getting in the Exhuast ??

Hi the K will smoke like an old chimney when left on side/stand so not a problem,oil dripping not sure about that.As for the MAYO in the oil it happens,I take it the bike has only run in the garage if so you will still find MAYO until its run/ridden upto temperature and if by magic it disappears.Good luck hope this helps.

If you are getting water in the oil on a K it is usually caused by a bad seal in the combination water/oil pump, not a bad head gasket.

Right after going for a ride take a look at the oil sight glass window.  If coolant is getting into the oil then you'll see some froth/bubbles in the sight glass window.

Just started the engine , on Centre stand over night , no smoke , maybe that's why the side stand was removed !! 
Bike has no MOT , so cant take it for a long ride , at the moment !

So panic over,there is an oil additive than softens the seals iv used it on a few engines over the years with good results might be worth a try you never know.cant do any harm.