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REGISTERED NUMBER: 03649940 (England and Wales)















SWITZERLAND TRAVEL CENTRE LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024






SWITZERLAND TRAVEL CENTRE LIMITED (REGISTERED NUMBER: 03649940)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SWITZERLAND TRAVEL CENTRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: M H Maeder
T Allemann


REGISTERED OFFICE: 2nd Floor, Techspace Whitechapel
38-40 Commercial Road
London
E11LN


REGISTERED NUMBER: 03649940 (England and Wales)


SENIOR STATUTORY AUDITOR: Kiran Patel BA FCA


AUDITORS: Albury Associates Limited
Chartered Accountants & Statutory Auditor
2nd Floor, One Hobbs House,
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX


BANKERS: National Westminster Bank plc
2 Charing Cross Road
London
WC2H 0NH

SWITZERLAND TRAVEL CENTRE LIMITED (REGISTERED NUMBER: 03649940)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 45,977 48,248

CURRENT ASSETS
Debtors 5 200,685 115,452
Cash at bank and in hand 169,344 119,451
370,029 234,903
CREDITORS
Amounts falling due within one year 6 335,691 318,823
NET CURRENT ASSETS/(LIABILITIES) 34,338 (83,920 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

80,315

(35,672

)

CAPITAL AND RESERVES
Called up share capital 7 50,000 50,000
Retained earnings 8 30,315 (85,672 )
SHAREHOLDERS' FUNDS 80,315 (35,672 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 March 2025 and were signed on its behalf by:





M H Maeder - Director


SWITZERLAND TRAVEL CENTRE LIMITED (REGISTERED NUMBER: 03649940)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Switzerland Travel Centre Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements have been prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover of the entity comprises of the following:

- Commissions from Switzerland Travel Centre AG on sales of tickets, rail tickets, coach tickets, travel
insurance, hotel bookings, package holidays. The commissions are calculated in accordance with the
Agreement between Switzerland Travel Centre Limited and Switzerland Travel Centre AG.
- Reimbursement of expenses incurred by Switzerland Travel Centre Limited on behalf of Switzerland Travel
Centre AG. Expenses are reimbursed in accordance with the Agreement between Switzerland Travel Centre
Limited and Switzerland Travel Centre AG.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Tangible fixed assets are started at cost less than depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment 5 years straight line
Computer equipment 3 years straight line

The gain of loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit of loss.

Financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


SWITZERLAND TRAVEL CENTRE LIMITED (REGISTERED NUMBER: 03649940)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee services are received.

Going concern
With the support of the Parent Undertaking, the directors have a reasonable expectation that the company has sufficient resources to continue in operational existence for the foreseeable future. Thus they continue to adopt a going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2023 - 38 ) .

SWITZERLAND TRAVEL CENTRE LIMITED (REGISTERED NUMBER: 03649940)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 88,331
Additions 23,817
Disposals (871 )
At 31 December 2024 111,277
DEPRECIATION
At 1 January 2024 40,083
Charge for year 26,088
Eliminated on disposal (871 )
At 31 December 2024 65,300
NET BOOK VALUE
At 31 December 2024 45,977
At 31 December 2023 48,248

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 35,671 47,430
Other debtors 165,014 68,022
200,685 115,452

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,889 2,792
Amounts owed to associates 159,249 145,798
Taxation and social security 42,278 41,894
Other creditors 129,275 128,339
335,691 318,823

7. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
50,000 Ordinary shares £1 50,000 50,000

SWITZERLAND TRAVEL CENTRE LIMITED (REGISTERED NUMBER: 03649940)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


8. RESERVES
Retained
earnings
£   

At 1 January 2024 (85,672 )
Profit for the year 115,987
At 31 December 2024 30,315

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kiran Patel BA FCA (Senior Statutory Auditor)
for and on behalf of Albury Associates Limited

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose transactions entered into between two or more members of a group, as the company is a wholly owned subsidiary undertaking of the group to which it is party to the transactions.

11. PARENT COMPANY

The immediate parent company is Switzerland Travel Centre AG, a company registered in Switzerland, by virtue of owning 100% of the issued share capital. The joint ultimate controlling parties are SBB (Switzerland), Switzerland Tourism and Hotelleriesuisse. No one party is the ultimate controlling party.