SWS_TRAVEL_LIMITED - Accounts

The average number of persons, including directors, employed by the company during the year was as follows:

On the 17th January 2019 the company changed its name from VIP Leisure Travel Limited to SWS Travel Limited.

The company signed a Purchase Agreement on the 18/1/19 for the sale of the going concern, the goodwill and assets of this specialist travel business . As part of this agreement the Buyer paid an initial £20,000 to SWS Travel Limited. This is shown as a profit on sale of intangible assets in these Accounts.

The company will receive from the Buyer a further cash payment on the first anniversary of completion,equal to 10% of the gross profit, as defined in clause 4 of the purchase agreement generated by the customers of the Business during the 12 months following completion (the first deferred payment). The first deferred payment will be made within 20 business days of the 12month anniversary of completion.

The company will receive from the Buyer a further cash payment on the second anniversary of completion,equal to 10% of the gross profit generated by the customers of the Business during the months 13-24 following completion (the second deferred payment). The second deferred payment will be made within 20 business days of the 24 month anniversary of completion.

SWS Travel Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bowden House, 36 Northampton Road, Market Harborough, Leicestershire, LE16 9HE.

For the year ended 28 February 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the micro-entity provisions and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime' and delivered in accordance with the provisions applicable to companies subject to the small companies regime.