Turnover is measured at the fair value of the consideration received or receivable, net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:
Sale of exhibition tickets
Turnover from the sale of exhibition tickets is recognised when significant risks and rewards of ownership of the tickets have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually after the exhibition has taken place and the final attendance numbers known.
Interest receivable
Interest income is recognised using the effective interest method.