Investment in SW Traders Limited During the 2022 financial year, SendIT Limited and Wheels Limited incorporated SW Traders Limited. SW Traders Limited will be a tyre dealer. SendIT Limited acquired 60% of SW Traders Limiteds share capital for R300 000, and Wheels Limited acquired 40% of the share capital for R200 000. In terms of the agreement that governs the operations of SW Traders Limited, all decisions relating to the operations of SW Trad-ers Limited need to be taken by both SendIT Limited and Wheels Limited. Neither party can make decisions without each others consent. SW Traders Limited does not have any administrative staff and is 100% administered by a combination of SendIT Limited and Wheels Limited staff, which includes the companys finance function. More than half of SW Traders Limiteds sales are channelled to SendIT Limited and Wheels Limited. SW Traders Limited will always give preference to the needs of SendIT Lim-ited and Wheels Limited over that of any third party who wishes to buy tyres from SW Traders Limited

Required:

With reference to the Investment in SW Traders Limited, discuss the nature of SendIT Limiteds investment in SW Traders Limited in accordance with the requirements of IFRS 11.