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Table of Contents
Executive Summary ................................................................................................................................................................................ 2 A Message to Share Holders.................................................................................................................................................................. 3 Company Structure ................................................................................................................................................................................ 3 Product 1: Leaflet Design, Printing and Distribution ...................................................................................................................... 4 Product 2: Ring Binder ................................................................................................................................................................ 5 Department Reports ............................................................................................................................................................................... 6 Financial Accounts: Balance Sheet, Profit & Loss Account ............................................................................................................ 7-8 Learning Process and Evaluation.........................................................................................................................................................9-10

Executive Summary
Mission Statement:
Resolve is a versatile company with multiple areas of interest. We are primarily a stationery company, which strives to provide innovative solutions to everyday problems through our range of Intelligent Stationery. We endeavour to make people rethink the way they use stationery and ensure that Resolve is associated with creative and high quality products

Products and Services:

1) 2) Leaflet Design, Print and Distribution Service : Hole-punching Ring Binder

Summary of Interim Financial Results

Profit after tax Share capital Return on share capital YE Corporation Tax Provision YE VAT Provision 320.54 480.00 67% 35.62 58.37

Resolve has so far had a very successful financial year, with a total profit of 320.54. This has provided a substantial return on initial share capital of 67%. It should also be noted that, unlike other companies, Resolve paid 245 in registration and insurance fees, as our school were unable to provide sufficient financial support, which gives further indication of the strength of Resolves financial position. We currently hold unsold stock after manufacturing the initial batch of ring binders ourselves, of which the materials are valued at 64.61. We have produced two main products: an advertising leaflet service which promotes environmental awareness, and the , a ring binder which integrates a hole-punch, solving a genuine issue with an existing stationery product. We have put in a great deal of effort throughout the year to achieve these strong financial results.

A Message to our Shareholders...

We started the year full of ambition, energy and ideas ready to be put to the test. The Company has since made rapid progress, enjoying incredible successes whilst overcoming a multitude of challenges. The year has been a series of memorable moments, which represent key milestones in the development of the Company. The first board meetings were crucial in determining the nature of our business, where we decided to become a stationery company, with a focus on solving key issues with existing stationery products. Highlights of the year include pitching leaflets to businesses throughout the Bromley borough, delivering the leaflets themselves a fortnight before Christmas, and manufacturing by hand the initial batch of folders, as well as making valuable inroads and relationships with manufacturing companies nationally and internationally. These memorable moments were also accompanied by a number of challenges throughout the year, which have shaped our company and proved to us that Young Enterprise is as much about learning than turnover and profits. The dedication of the team throughout the year in order to overcome these obstacles has inspired our successes, and brought us closer together as a cohesive unit. Resolve has developed into a determined and highly profitable organisation, with huge potential for future growth and are currently opening negotiations in order to attract the attention of larger established stationery organisations in order to get our innovative, inspired, intuitive product manufactured. It has been immensely satisfying working in a team with such devoted and capable members. The Company has grown from humble beginnings into an accomplished and potentially hugely profitable business and none of this would have been possible with out the efforts and guidance of Mr John Greenwood and Mr William Lawes. We look forward greatly to the future. Yours Faithfully,

Aashish Panchasara Managing Director

Company Structure

Product 1:
Leaflet Design, Printing and Distribution
It was decided early on that we needed to produce an efficient source of initial capital, after using 245 of share capital just to cover registration costs, in order to raise funds before expanding with the stationery product, which was our ultimate aim. After initial meetings, we chose to produce a leaflet to be delivered throughout Bromley, promoting an environmentally friendly message and holding advertising space available to local businesses. In order to ensure the plausibility of our idea, the Sales team began pitching to local businesses throughout the Borough during the month of October. This acted as our market research, allowing us to gauge interest for the product, and to set realistic prices which would sell as well as making a worthwhile profit. We received many positive responses from enterprises interested in promoting their products for the Christmas period, as well as tying their products in with an environmental message. Generally we aimed our pitches at companies which would be able to use the environmental message to their advantage, such as double glazing companies and product recycling services. The Sales team managed to secure two deals, from Cash Convertors based in Orpington and Morleys Chicken, a London-wide business, and contacted the businesses to arrange the design of the advert and to confirm prices, distribution area and number of leaflets. It was decided that we would print 10,000 A5 leaflets and distribute them in Orpington, Bromley and Beckenham. The next stage was to contact printing companies to get a quote for an order of 10,000 A5 double-sided full colour 130gsm leaflets. Our preliminary search was internet based, which produced a broad spectrum of results which we swiftly narrowed down by price, delivery costs and relevant offers. The Marketing team, having finalised the leaflet designs, contacted a printing company also based in Orpington, and were able to significantly reduce prices through intense bartering and removed delivery costs after decided to pick the leaflets up. We finally delivered the 10,000 A5 leaflets on foot two weeks before Christmas, after 2 months of hard work from the Sales and Marketing departments. 466 worth of advertising space was sold to the two companies, making the Company a gross profit of 319. A potential future deal was secured recently with a construction company, based in West Wickham. After taking a 50% deposit of 400 on the new batch of leaflets, the business decided that they would not be able to carry through with the advertising deal, and so a mutual agreement between the business and the Company was settled, and the Company was generously allowed to keep the 400 deposit. This was therefore an extremely profitable and successful venture which gave Resolve a strong financial platform in order to expand into our preferred business venture, the .

Product 2:
:Hole-punching Ring Binder
As a group of sixth-formers, we realised that one key problem we all encountered regularly in lessons was being unable to file handouts and sheets of paper immediately as it was inconvenient to always be carrying a holepunch. Sheets are eventually misplaced, crumpled or lost, reducing productivity as potentially key information could be lost. This issue could be extended beyond the classroom and into the workplace; many businesses who have to keep hard copies of data, information and reports both around and out of the office often find themselves at a loss with no hole-punch to hand. We identified this as being a massive niche in the stationery market to be exploited, and set about integrating a hole-punch into a ring binder. The team then conducted a substantial amount of market research in order to gauge interest for the product, both from students at our own school, and members of the wider public. We received an overwhelming amount of positive feedback, with the vast majority of people willing to pay up to 6 for the product, and so we began to take non-committal pre-orders for the product, after our IT director set up a website and database linked to Facebook to collect email addresses and details of those interested, along with a Facebook page to promote the product concept, which has a total reach of 10,870 users. Our web page is the number 1 hit on the Google search engine as of May 2012. We began the design process with a brainstorming meeting, where we decided the best location to integrate the hole-punch and appropriate materials. Our IT director then produced a number of CAD designs, and we began to construct our own prototypes after purchasing materials within our school Design-Technology workshop, until we felt we had produced the best possible design with the resources available. The next stage was to contact stationery, plastic and steel manufacturers in order to discuss the feasibility and costs of our designs. We approached a large number of manufacturers both in the UK as well as over 20 companies based in China and Hong Kong via email and telephone, and although discussions at first were unsuccessful due to high start-up costs and massive initial order requirements, we received positive feedback regarding the product and our professionalism. Whilst discussions were still ongoing, we attempted to self-produce a batch of 100 folders, creating a production line where each member of the team would carry out an individual process. It soon became clear that this would not be a feasible option and as a Company we felt that the final product we had manufactured was not to a standard which would reflect the aims and aspirations of our Company. We learnt much from this experience. The team decided to refocus our efforts on manufacturers located closer to home, as the language barrier and high production costs limited our options abroad. More recently, the Company has had meetings with a small local manufacturer, Cove Industries, who gave an informal quote before producing a high quality sample. High production costs again meant that the manufacturer was unable to produce a batch at an acceptable price; however discussions are still ongoing and we hope that production will commence soon. This has been an excellent learning experience for the whole team, demonstrating the difficulties of getting a complex idea into production, and has developed our teamwork, communication and production skills for the future.

Departmental Reports
Human Resources
As all members of the Company were from St. Olaves Grammar School, communication was able to occur on a daily basis. A private Facebook group was set up allowing communication outside of school hours, as well as easy sharing of resources. Our IT director promptly set up company email accounts for individual members, allowing for cohesive and professional discussions with external firms. The Company had regular board meetings every Monday afternoon and fortnightly meetings with William Lawes, our Business Advisor, with generally full attendance other than in special circumstances. As and when major developments occurred, we arranged extra meetings, notably all-day meetings during school holidays which were crucial to development of the leaflets particularly. Our Company Secretary took detailed minutes of each meeting so members knew exactly what was required before the next meeting. Early on in the year, two of our members felt that they would not be able to fully commit to the Company and stepped down, allowing us to recruit new members who added a great deal to the Company. Further down the line, the Company had issues with a member who was not taking on full responsibilities, and after much deliberation the board collectively decided to dismiss the member. This was an extremely challenging situation, which provided a unique experience for all members in dealing with personal issues in business.

Sales & Marketing:

Sales and marketing strategies were crucial to Resolves success with both products. We took a traditional door-to-door salesman approach with the leaflets, pitching to individual businesses throughout the Bromley borough after compiling a list of appropriate companies from the internet beforehand. We were formal but dynamic with our approach, using iPads to display initial designs of the leaflet, giving us a modern and respectable image. The marketing team were able to substantially reduce the price for the 10,000 A5 leaflets after discussions with many companies, and this helped us to maximise profit. Many people were interested simply by the idea of the ring binder, and the launch of the website and Facebook page led to further interest around the product and many advance orders. We chose to produce two logos: one for the company, and a separate one for the folders, in order to create a recognisable brand image that would clearly associate the company with the product. All members of the group felt that the name Resolve reflected the determined nature of the group, along with our core values, to provide innovative solutions to existing problems.

Financial Results
Resolve Company Accounts
Balance Sheet as of 7-Apr-2012
Current Assets: Stock Debtors YE VAT Owed * Cash at Bank Cash in Hand TOTAL A Less: Current Liabilities: Bank Overdraft Loans Creditors YE Corporation Tax YE VAT Due TOTAL B BALANCE (C) Represented by: Issued Share Capital: 480 shares at 1 Profit & Loss Account * Shareholders' Funds (D) 480.00 320.54 800.54 0.00 0.00 20.44 35.62 58.37 114.43 800.54 64.61 240.00 0.00 613.36 -3.00 914.97

Note: The total at C should equal the total at D If the company has not liquidated at the time of the Company Report, this document must be signed by a third party, such as an Adviser, certifying the accuracy of the figures I have examined the accounts of the company and agree that the above figures are an accurate representation of the company's position. * Please note that at the end of the year Young Enterprise can not refund tax owed to companies which means that your profits may be overstated if the balance sheet shows that there is YE VAT owed to your company Signed: (Adviser) Date: Print Name:

Profit and Loss Account as of 7-Apr-2012

Current Rate of Corporation Tax 10% A B C D E Sales Purchases Production Wages Closing Stock Cost of Sales (B + C - D) (A - E) Gross Profit F G H I J Salaries, commissions and Bonuses Stationery Rent & Hire Miscellaneous Expenditure Registration Fee 0.00 5.00 0.00 2.67 204.17 211.84 156.16 200.00 Net Profit (or Loss) 356.16 211.61 2.50 64.61 149.50 368.00 517.50

Total Expenses (F + G + H + I + J) Gross Profit Less Total Expenses Operating Profit (or Loss) Miscellaneous Income

Net Profit Brought Down LESS Corporation Tax Payable to Young Enterprise Profit after Tax * 356.16 35.62 320.54

* Please note that at the end of the year Young Enterprise can not refund tax owed to companies which means that your profits may be overstated if the balance sheet shows that there is YE VAT owed to your company

Learning Process
Opening and Maintaining a Company:
The members of the team have learnt the key principles of how to open, maintain and develop a company in a sustainable fashion.

Working Within a Team:

We have learnt the significance of working cohesively in order to get the very best out of each other, and the whole business.

Targets and Aims:

Early on we learnt the significance of setting deadlines and targets for the entire company, to demonstrate what we were working towards and to ensure members worked efficiently. If deadlines were not met then the team learnt that extra resources were needed in this area and other members would step in to help meet the next deadline.

Communication:
We have learnt the value of communication between all members of the team, and how this contributes to the smooth-running and efficiency of a company.

Organisation:
Time management on a personal level was key to the success of the company, where members were managing both academic pressures and keeping up with company deadlines.

Personal Challenges:
All members of the group have learnt the importance of every member pulling their weight, especially after the difficult decision of dismissing an associate who was unable to fulfil their responsibilities.

Dealing with the Public:

The Company learnt how to work with members of the public and the importance of becoming respectable ambassadors for the company during meetings and negotiations with manufacturers and businesses.

Product Development:
The members of the Company have learnt the difficulties associated with developing a product and getting it into production, both in terms of a producing an affordable, working design and negotiating production times and pricing.

Confidence in Addressing Issues:

The team learnt that once issues had been identified it was crucial that the team had the confidence to address them swiftly. It was also vital that the members understood their strengths and weaknesses and were able to choose areas of work accordingly in order to maximise efficiency.

Financial Accounts:
The Company learnt the significance and benefits of keeping accurate and detailed accounts, as well as a great deal about how to read and understand accounts, skills which they will undoubtedly use in the future.

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Evaluation
Whilst the Company has enjoyed many areas of success, it is crucial to assess the failures and disappointment that took place. One of our ideas following the initial brainstorming sessions was a malleable pen grip, which could be used to produce a grip for any pen. A significant amount of time and resources was spent on developing the idea and it soon became clear that there were a number of health and safety, design and production issues. These could have been identified much earlier on and the Company would have had more time and resources to develop our other ideas and products. However, through the development of this product we were able to create a relationship with the Design-Technology department and suppliers that we benefited from in the development of our other products, so it is crucial that we evaluate the negatives and are able to draw positives like these from everything that we have done. The Company later realised the necessity of picking members who were committed to the Company and would fulfil their responsibilities. The Company required absolute dedication in order to set up, maintain and develop the Company during the early stages. The decision to dismiss an uncommitted member was very difficult and we learnt a lot from this experience. It also soon became clear that members were under the most stress when having to also manage academic commitments and in the future this could be addressed by setting deadlines around academic pressures. However, the positives outweigh the negatives, and Resolve has proven this with a very strong set of interim financial results, seen previously in the report. The Company has gone from strength to strength this year, developing our business skills as individuals and gelling together as a team. We look forward to the future, and to further development and production of the ring binder, perhaps alongside new ventures.

Future Aspirations
The entire group have greatly benefited and enjoyed the complete process and the unique experience of running a company. Resolve has many future ambitions and prospects: The company aims to initially manufacture the ring binder within the UK, however in the future we plan to

go abroad where the reduced costs will allow the company to further develop the product. We aim to begin discussions with larger stationery retailers about selling the product within their stores and financial assistance with regards to large scale manufacturing. Resolve plan to further develop their range of Intelligent Stationery, by identifying and solving further issues with existing stationery. Resolve also plan to maintain their advertising department and continue to sell advertising space on leaflets and more as an additional source of revenue. Resolve intend to extend the idea of solving everyday problems with their products beyond their range of stationery, into many other aspects of school, office and modern life.