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NHBT TRADING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
NHBT Trading Limited is a company limited by share capital incorporated in England and Wales. The registered office address is Becket's Chapel, 2 Church Street, Wymondham, NR18 0PH. The principal activity of the Company is the commercial activity of Norfolk Historic Buildings Trust.
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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and 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:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Revenue represents the fair value of consideration received or receivable for the provision of goods and services in the ordinary course of the Company’s activities, excluding value added tax.
Revenue from venue hire and event services is recognised when the wedding or event takes place, at which point the performance obligations are considered to have been fulfilled.
Deposits and advance payments received from customers are initially recognised as deferred income within creditors and are released to revenue in the period when the related event occurs.
Interest income is recognised in profit or loss using the effective interest method.
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.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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