I've been experimenting with various track layouts for the Knaresborough Playmobil display and here are six with notes for Mark's comments.
KN 1:

In many ways this is my favourite as it offers a lot of opportunities for shunting and making up of trains. The fact that there are four arms also means the possibility of four stations. Against these advantages, however, is that the single loop doesn't offer much interest.
KN 2:

This is KN 1 with the sidings extended to form a double oval so that two trains can run simultaneously, offering more interest to viewers. Against this shunting and train make-up opportunities are not really possible.
KN 3:

This is a development of KN 2 by adding on two sidings which allow shunting and add more to look at.
KN 4

This is KN 3 but shortened by one track length.
KN 5:

KN 4 but with one siding taken out. This allows space for a station to serve both the siding and the outer oval.
KN 6:

This is KN 5 with an extra siding added at the other side of the outer oval and room for a second station for "station to station" runs. The sharp-eyed amongst you will notice that the points are upside down; this is because a left hand point is needed and I don't have a spare so I've turned a right hand point upside down for the photo. I should be able to borrow a left hand point from a friend a few doors away. If there's space, I think this is the best for exhibition purposes.