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NORFOLK SHOWGROUND DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Norfolk Showground Developments Limited is a private company limited by shares and incorporated in England and Wales under the Companies Act 2006, company registration number 08977136. The address of its registered office is Norfolk Showground, Dereham Road, Costessey, Norwich, Norfolk, NR5 0TT. The principal activity is that of an investment company.
The financial statements are presented in Sterling, which is also the functional currency of the Company.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The Company will remain dormant with no further activity planned following the settlement of the remaining amount owed from the joint venture and subsequent clearing of the outstanding balance owed to group undertakings.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short term creditors are measured at the transaction price.
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The Company has no employees other than the director, who did not receive any remuneration in the year (2023 - £Nil).
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