DE LA SALLE COLLEGE MALTA

ADVISORS: BJORN AZZOPARDI & CHRIS CUTUGNO

a young enterprise company
LINK TEACHER: RIANN MUSCAT

FINAL REPORT
2009 / 2010
EXECUTIVE SUMMARY We aim to reduce the impact on the environment by reusing old wine bottles, packaged within recycled materials.

CONTENTS
a young enterprise company
1 Executive Summary
2 Rewineding back to October
3 Rewind’s Multiplat
4 Rewinding around Malta
Flat out brilliance; inside and out
5 Unwinding
Rewined’s corporate and social
responsibility
6 Rewined goes technological
Rewined in the press
7 Reducing, Reusing
Recycling, Rewineding
8 Future possibilities
9 & 10 Rewined’s financials

FINANCIAL SUMMARY
12 LASALLIANS MISSION REWINED
ONE FIRM TEAM, REWINED. Turnover Gross Profit
“Flat Out Brilliance” – This phrase was chosen as
Starting out as 12 De La Salle Students, eager to learn more, we’ve our mission statement, reflecting the most basic €2,268 .25 €1,501 .40
developed and grown throughout this business venture, into 12 element of our product: the ‘Multiplat.’ It shows
experienced co-workers, who seek constant improvement in all our commitment to high quality and standard, not
the elements that make up ‘rewined’, making this a truly ‘Flat Out only in our product, however also in our company’s Operating Profit Return on Captial
Employed
Brilliant’ experience. performance and efficiency.
€930 .59 53%
Rewined • Final Report 2009 / 2010 1
REWINED-ING BACK TO OCTOBER… a young enterprise company
At the beginning of the year, when 12 students from different schools entered De La Salle’s corridors for the first time, and formed our Young
Enterprise team, not many from the team knew one another. We sought to befriend each other and when familiar within the team, we soon
moved on to the division of roles by means of voting, according to each member’s interests and subjects being studied at school, for these would www.rewinedmalta.com
be influential in one’s work throughout the year.

TEAM ORGANISATION

…TAKING THEIR FIRST STEPS Photo taken after consent was given
by the candidate

Primarily it is important to mention that the
team proposed a total of 6 products for which
market research, spread around the island, was
carried out. At the same time, the production
team also got to work on researching the
possible suppliers. After much discussion, a
feasibility study regarding the 6 prospective
products followed, and the slumped bottle
seemed most probable. The obvious choice
of supplier was firstly Mdina Glass. The
production team contacted the Administration,
of Malta’s leading glassmaking company, and
it was agreed that they would partner with
Rewined • Final Report 2009 / 2010
‘Rewined’. The team discussed all possibilities could be made was taken advantage of. All
and outcomes’, unanimously agreeing on what progress has been documented in an organized
was soon to be known as the ‘Multiplat’. A manner making reference to events in the past
contract was drawn up outlining the costs per easier for the team members.
batch of bottles flattened, amount per batch
and other payment arrangements. As soon
as this contract was signed by both parties,
production commenced.
From this point onwards, the rewined team INTERVIEWS SPREAD OVER 3
started working hard with definite aims. VILLAGES IN MALTA
Meetings were held weekly, production was
in full swing, and any opportunity where sales 196 PEOPLE INTERVIEWED
6 PRODUCTS INVESTIGATED
2
REWINED’S MULTIPLAT
At this point, on of the achieversoffered the use of a
garage to be used as our production house. This was
located in Kappara and was excellent for our production
process. The process involved the collection of wine bottles
and other glass bottles. Following this, the team got
together in shifts to begin washing the bottles collected.
When a sufficient amount of bottles were washed, the
production team transported the batch to Mdina Glass to
be flattened. This flattening was carried out in a kiln, in
which only 40 - 50 bottles fit. Constant communication
was kept with Mdina Glass throughout and a good trust
worthy relationship was established. The Production
Department kept note of the amount of bottles taken to
Rewined • Final Report 2009 / 2010
a young enterprise company
be flattened and the numbers of platters collected. Overall,
the entire production process was extremely successful and
very little could have been improved. Mdina Glass was the
best choice for such production and much gratitude goes
out to their team.
The Multiplat is the epitamy of ecological friendly dining.
It is, in its essence, a modern, stylish, environmentally
friendly multi-purpose product which can be used in
different locations and for a wide range of purposes. This
is a product which was primarily created to be used as a
cheese platter, but as time passed, it was noted that it is a
rather versatile product.
MARKET RESEARCH
SWOT ANALYSIS
PEST ANALYSIS
FEASIBILITY STUDY
SUPPLIER RESEARCH
PRODUCTION
3
REWINEDING AROUND MALTA
Rewined’s sales team has sought to increase sales, as our
primary aim has been to make this a profitable investment for
our shareholders. Along with the marketing department we
made our product better known to the public, week by week,
and this was reflected in our sales as it increased from a
meagre 13 platters in December to a remarkable 116 platters
in April alone. The Multiplat was priced at € 6.50, ensuring
enough funding to cover our costs and to make a healthy
 -­‐ Monthly
 Sales
profit margin, and a total of 366 units were sold.
Learning as we went along, it was decided to implement two
new sales strategies; commission payment to each member,
per Multiplat sold as well as discounts when purchasing more
Rewined • Final Report 2009 / 2010
than one platter. This increased incentive and motivation 10 ORGANISED
within the team to boost sales, and it worked! We strive to SELLING EVENTS
provide an efficient service and a quality product as well as
increase customer satisfaction where possible.
366 UNITS SOLD
To boost sales, and also make this as pleasurable an
experience as possible, a mascot was introduced to the
local market, in the form of ‘Winey’, the wine bottle. The Rewined
Multi-­‐plats
140
team’s Assistant Sales Director stepped in for the job, and
120
this made the experience more pleasurable for all of us, as
100
we were combining our work with our free time. Both fun
80
and innovative, Rewined has done all things possible to boost
60
sales. 40
20
0
December January February March April Months
FLAT OUT BRILLIANCE; INSIDE AND OUT
The Quality Department dealt with achieving high the company. This served as both a motivational, as well
standards in a quality product at an affordable cost as a fun activity. Quality forms, assessing our progress
keeping the customers and their welfare in mind. Various were drawn up and filled in.
systems were adopted by the quality department to
ensure all this. Regular quality checks focusing on Looking back on the last few months we can safely say
both the company’s product as well as monitoring the that the journey was not always easy. But obstacles
company’s essential relationships between employees were overcome and negative experiences learnt from.
themselves as well between employees, customers All the company has gone through, both positive and
and suppliers were made. These checks always showed negative, has helped us become what we are today; a
continual improvements in all sectors. Awards were well functioning team made up of individuals who have
handed out on a monthly basis for various posts within always sought the best for Rewined.
4
 Quality is never an accident; it is always the result of high intention, sincere effort, intelligent direction and
UNWINDING skillful execution; it represents the wise choice of many alternatives.
Emma Camilleri - Quality Director

Back in October, we were all new to life at De L Salle College. For this reason,
it was of utmost importance that a relationship was built between every
member as soon as possible in order for us to start working as a team in the
correct way.

In order to create a bond between the participants, besides obviously meeting

at school, the team regularly met up as friends, whether it was going to
someone’s house, going out together, or even attending social events as
a group. The group attempted everything, and as time went by it wasn’t
because we had to, but because we truly enjoyed spending time together,
which was, after all the aim to begin with. In this way, since we became close
friends, whenever we had to work together it was much easier and things
ran smoother, whenever there was an argument, it was resolved quicker, so
the overall running of the business improved and things flourished. A certain
motivation, and enthusiasm among team members could soon be observed,
and this brought about a great professionalism in the team.

REWINED’S CORPORATE SOCIAL RESPONSIBILITY  

The main aim of Rewined is to make this venture a
profitable investment for our shareholders. However
this most fundamental aim had to be carried out in a
sustainable, responsible way. Rewined’s values respect
both the society and the environment around us. At
the beginning of the year, the company chose to adopt
a ‘paperless office’ approach – one that saves a lot of
wastage of paper. A tree was also planted to make up for
any paper used, in the 34U scheme. The team has also
sought to give something back to the society we form part
of, and it was decided that 10% of profit upon each unit
would be given to charity. During the Easter period, the
rewineders visited the Ursuline Creche in Sliema, with 50
Easter Chocolate Bunnies, which were presented to the
children, wishing them a Happy Easter. Representatives
of the team also took part in the ‘Barefoot for a Day’
Activity, held at Sliema Point, in order to raise awareness
about something we often take for granted – shoes. The
team also took part in many activities at the college,
where society could benefit. Cakes were baked for the
Charity Day held on the 10th of May, at the college. On the
occasion of Mother’s Day, flowers were presented at the
Merhba Bik Battered Women’s’ Shelter in Balzan, to all the
mothers there, wishing them all a wonderful Mother’s Day.
The CSR element of this competition helped us grow, and
evolve into responsible citizens, conscious of the society
we live in, and always striving to offer aid to those in need.

Rewined • Final Report 2009 / 2010 5


REWINED GOES TECHNOLOGICAL
The internet is a resource of vital importance to any company. Rewined
made sure to take advantage of this priceless service by developing
a website (www.rewinedmalta.com) using our brand image. Inspired
by the main elements that make Rewined and our product, the IT
department sought to produce a clean and modern brand. Further
publicity was ensured by means of the Facebook Page, that has been
very popular. The number of fans has steadily increased, reaching the
500 mark. Working to be an entirely environmentally friendly team, we
have made sure to take advantage of the internet, being a sustainable
alternative to printed advertisements. This was also important for the
paperless office approach we chose to adopt at the beginning of the
year. Communication between team members was also done online, by
means of a facebook thread. Via this thread, messages with updates
were sent daily, also serving as a great place for team discussion and
brain storming.
www.rewinedmalta.com
REWINED’S ONLINE LINK TO CUSTOMERS THE WORLD OVER
Rewined • Final Report 2009 / 2010
The idea is simple and catchy whilst also visionary in the way our own waste is
also reintroduced even to the table where we dine.
– Greenhouse Blog, Malta
REWINED IN THE PRESS
The Rewined team has understood that any opportunity to promote itself is one that should be looked
into, especially when having such limited time. The team chose to go public immediately. Several blogs
and newspaper articles have been written about the company, as well as features on www.timesofmalta.
com and YouTube for the team’s inclusion in the ‘Barefoot for a Day’ Activity. In the images, team
members Emma Camilleri and Andrew Borg Wirth can be seen addressing the public at this event. The
Honourable Minister George Pullicino also included us on both his blog, as well as on the Times of Malta,
in an article entitled ‘Flat out Brilliance’. Appearing on both local television and radio, the members have
solidly understood the importance the media has in business and have constantly worked in order to
increase our portfolio of representation in the press.
6
REDUCING, REUSING, RECYCLING - REWINEDING
All the elements that comprise Rewined, boil down to
one thing, the important process of recycling. Even in our
company’s name we sought to include this most important
component of our work. The Multiplat, is therefore
minimizing a lot of wastage that would otherwise just
add to the multitude of waste one throws away each day.
Therefore it is important in today’s world to always keep in
mind the environment, and one’s respect towards it.
Rewined • Final Report 2009 / 2010
One of our proudest achievements is our success in
making this a profitable business venture, whilst still
managing to use recycled goods and produce a product
that is 100 % recycled. Customers have also been pleased
with both our sales technique and our products, as our
sales surveys have shown. Deemed both inviting, and
innovative, the team has sought to work in the most
genuine way possible, where success is balanced with
responsibility.
a young enterprise company
7
 REWINED’S PROGRESS a young enterprise company

Rewined has advanced throughout the past few months.
Having decided upon our product, we invited our
shareholders to our Launch where we explained what
our plans were. Having developed a business plan, and
experiencing our first sales events as a Young Enterprise
Company, we organized an event where shareholders
and guests alike could see just what we had planned for
the months to come. Invited to this event, was Minister
George Pullicino, who had words of encouragement and
motivation. Close contact was kept with the Ministry,
and the team was invited to various events following
this. As time passed, word spread that Pope Benedict
XVI would be visiting the islands, and we sought to offer
a special edition gift, for the occasion of his visit. A to do their very best to improve their performance,
‘Chateau Neuf De Pape’ bottle was used, and slumped, and make the most of this educational experience. The
and this was presented to the Nunciature, where His twelve students, have grown, learnt, struggled, laughed,
Holiness would be staying during the visit. A letter of and worked hard to be were they are today. Without a
thanks, wishing kind blessings, was recently received doubt this business venture has been both educationally
from His Holiness. For the months of March and April, and holistically beneficial, teaching several skills new to
the team attended many fairs, and sought to improve youths this age.
sales as time went by. Closer to the end of this business
venture, an AGM was held at Dar L-Ewropa, where the
company’s progress over the year was presented and
discussed. The accounts and motions regarding the
liquidation of the company were presented and approved.
The twelve members that make up Rewined have sought

FUTURE POSSIBILITIES
The company has proved very successful in its
short lifetime, and without a doubt, continuing
once this competition has ended, is something
they are all contemplating. Various landmarks
during the lifetime of Rewined have instilled
within the team a certain pride and certain
motivation to continue. Negotiations to partner
for the prospective ‘Malta Week’ in Brussels
were well under way in the past few months,
as the 5 Maltese MEPs, showed keen interest in
rewined. A bulk order of around 1000 platters,
for use at this event, was being discussed. The
Ministry for Rural Affairs has also expressed
a lot of interest in rewined. Without a doubt,
the constant invitations to sales events, emails,
suggestions, and frequent recommendations
from the Minister himself, have served as great
motivation for the whole team. Without a
doubt the team plans on continuing Rewined;
perhaps an online version could be developed,
where the company can operate worldwide.
The possibilities are endless, and as we have
seen in the past months, the sky is the limit.

  Rewined • Final Report 2009 / 2010 8

FINANCIAL STATEMENTS a young enterprise company

REWINED
REWINED -REWINED
Financial - Financial Statements
-Statements
Financial Statements

Trading, Profit & Loss Accounts of REWINED Balance Sheet of REWINED

Trading, Profit & Loss Accounts
Trading, Profit
for theof REWINED
&7Loss Accounts
months endingof 13th
REWINED
May 2010 Balance Sheet of Balance
REWINEDSheet of REWINED
as at 13th May 2010
for the 7 months for
ending
the 713th May ending
months 2010 13th May 2010 as at 13th May 2010
as at 13th May 2010

Details Note € € Details Note €

Details Details Note € Note € € € Details Details Note € Note €

Sales 1 2,268.25 Current Assets

Sales Sales 1 1 2,268.25 Current Assets Current Assets
2,268.25
Cost of Sales Debtors 4 243.00
Cost of Sales Cost of Sales Manufacturing Cost of finished goods 2 Debtors
(525.33) Debtors Cash at Bank4 243.00
4 243.00 1,260.00
Manufacturing Cost of finished
Manufacturing goods of finished goods2
Costcosts
Packaging 2 (525.33) Cash(202.00)
(525.33) at Bank Cash at Bank
Petty Cash 1,260.00 1,260.00 992.44
Packaging costs PackagingSales
costsCommissions (202.00) Petty (39.52)
(202.00) Cash Petty Cash 992.44 992.44
Sales Commissions
Sales Commissions (39.52) (39.52) Total Current Assets 2,495.44
Gross Profit Total Current Assets
1,501.40 Total Current Assets 2,495.44 2,495.44
Gross Profit Gross Profit 1,501.40 1,501.40
Expenditure Current Liabilities
Expenditure Expenditure Stationery Current LiabilitiesCurrent Liabilities
65.81 Creditors and accruals 5 564.85
Stationery Stationery
Rent & Hire 65.81 65.81 75.00 Creditors and accruals
CreditorsY/E accruals5 Tax
andCorporation 564.85
5 564.85 186.12
Rent & Hire Rent & Hire
Miscellaneous Expenditure 75.00 75.00 300.00 Y/E Corporation Tax
Y/E Corporation
Total CurrentTax
Liabilities 186.12 186.12 750.97
Miscellaneous Expenditure
Miscellaneous Expenditure
Registration Fee - Y/E 300.00 300.00 Total
130.00 Current Liabilities
Total Current Liabilities 750.97 750.97
Registration Fee -Registration
Y/E Fee - Y/E 130.00 130.00 Total Net Assets 1,744.47
Total Net Assets Total Net Assets 1,744.47 1,744.47
Total Expenses (570.81)
Total Expenses Total Expenses (570.81) (570.81)
Operating Profit Before Taxation 930.59 Financed By
Operating Profit Before Taxation
Operating Profit Before Taxation 930.59 Financed
930.59 By Financed By Share capital 6 1,000.00
Corporation Tax 3 Share capital
(186.12) Share capital 6
Retained Profits 1,000.00
6 1,000.00 744.47
Corporation Tax Corporation Tax 3 3 (186.12) Retained Profits Retained Profits
(186.12) 744.47 744.47
Net Profit after Tax 744.47 Capital Employed 1,744.47
Net Profit after Tax
Net Profit after Tax 744.47 Capital
744.47EmployedCapital Employed 1,744.47 1,744.47

______________________ ______________________
______________________ Andrew Borg______________________
______________________
Wirth ______________________
Deborah Mifsud
Andrew Borg Wirth
Andrew Borg Wirth DirectorDeborah Mifsud Deborah Finance
Managing Mifsud Director
Managing Director
Managing Director Finance Director Finance Director

Rewined • Final Report 2009 / 2010 9

ACCOUNTS a young enterprise company

Notes to the Accounts Liquidation Report

Accounting Policies The principal accounting policies were The company was placed into voluntary liquidation on 13th May, 2010.
adopted in the preparation and presentation of these in accordance with Y/E Rules & Regulations.
financial statements.
Statement of liquidator's transactions:
1. Sales Turnover Sales represent the invoiced value of goods sold.
Our assets are to be converted into cash and should
2. Manufacturing Costs Manufacturing costs comprise the direct production cost and realise the sums shown below:
manufacturing labour.
Debtors € 243.00
3. Corporation Tax A provision was made for income tax at 20% on the net profit Cash in hand and at Bank € 2,252.44
for the period in accordance with Y/E Rules & Regulations. € 2,495.44

4. Debtors Debtors consist of one corporate debt which was expected to During the course of liquidation the following payments will be made:
be settled shortly.
Creditors and accruals € 564.85
5. Creditors and accruals Creditors and accruals consist of a trade creditor of EUR 189.33 Corporation tax payable on profits € 186.12
as well as accruals of EUR 375.52. € 750.97

6. Authorised and Issued This is made up of 1,000 shares at Eur 1.00 each fully paid up. Distribution Statement
Share Capital
Surplus available for distribution € 1,744.47

Distributed as follows:
Donation to a charity € 74.45
Dividends distributed € 670.02
Return of capital € 1,000.00

Auditor's Report

I have audited the financial statements on the attached pages on the basis of information supplied to me by the directors. These financial statements
are the responsibility of the directors. My responsibility is to form an independent opinion, based on my audit, on these financial statements and to report
my opinion to you.

In my opinion, on the basis set out above, these financial statements give a true and fair view of the state of affairs of REWINED - A Young Enterprise Company
as at 13th May, 2010 and of its profit for the period then ended.

David J Pace
obo UHY Pace, Galea Musu & Co

Rewined • Final Report 2009 / 2010 10