PRING DAYS SCHOOL

INDIA

ANNUAL REPORT

An update on our business this year

Ankita, Vanshika, Prince, Ishita, Anushka, Jyoti

Written by STUDENT 1, STUDENT 2, STUDENT 3, STUDENT 4, STUDENT 5, STUDENT 6

Mrs. Pooja Gupta

LEAD TEACHER

Created as part of the School Enterprise Challenge Awards Programme – Silver Level

Section A: Executive Summary
Business Name / Re-Denim
Business Activity / Transforming old (recycled) denim garments into new utility products for purpose of sale.
Main product / service / Recycled Denim Utility Products
Our school business social media (Facebook page, blog, Twitter account etc.) / We have not yet opted for these networking sites as our primary clientele is connected through the school itself
Number of students involved in business implementation activities (including writing this Annual Report) / Boys:7 / Girls:20 / Total:27
Number of students in whole school / Boys:333 / Girls:197 / Total:530
Number of parents involved in our school business / none
Financial Summary
Estimated (figures copied from Business Plan) / Actual
Our local currency (INR) / US Dollars ($) / Our local currency ( INR ) / US Dollars ($)
Period of time budgeted for & actually covered: / 3 Months / 2 Months
Total Income: / 25975.00 / 405.85 / 23340.00 / 361.86
Total Direct Costs: / 2575.00 / 40.23 / 2525.00 / 39.14
Gross Profit: / 23400.00 / 365.62 / 20815.00 / 322.71
Total Indirect Costs: / 3750.00 / 58.60 / 4250.00 / 65.89
Net Profit: / 19650.00 / 307.00 / 16565.00 / 256.82
Section B: Running Our Business
1.  Here is a summary of what we did to run our business
2.  Steps of running Business 1:Re-Denim


Steps for Running Business 2: The Children’s Carnival
3.  Here is a description of the different departments we worked in and how often we all rotated roles:
This time, things were very dynamic. Everyone was everywhere. Though we had planned our roles and duties but as the sale day was on the Carnival day, we had much to juggle. Once all things were set-up, we wanted to keep it that way. We kept a close check at cleanliness and tidiness and all team members were instructed to approach the cleaners but we ended up doing a lot of ‘pick and throw in the bin’ ourselves. Also the sales team was in action all the time, helping the games stall to pitch their games. The creative team, took over sales for the Re-denim stall and got a taste of cash management that day.
The other members helped in welcome, guiding, escorting, cleaning, helping, assisting teachers and much more.
I was a tiring but wholesome day!
Section C: Management & Use of Profits
4.  a) Here is an explanation of how we formed our Business Management Committee:
The Business Management Committee (BMC) was formed by selecting a senior from all departments by our head teacher, Mrs. Pooja Gupta. Team members from last year’s run were given preference to be in the “Core Committee” This committee was responsible for decisions related to Business 1: “Redenim” and also the maintenance of records and budgeting
Due to the addition of our new venture- “The Children’s Carnival”, another “ A Carnival Committee” was formed under the leadership of Mrs. Pooja Gupta, with the head teacher of each class representing her class. One Student was also included in the committee from each class from grade 7 to 12. The Carnival Committee was focused on organization of the Carnival, deciding games and procuring prizes/awards for the games.
b) These are the members of our Business Management Committee:
S.NO / Name / Status (teacher/student/parent etc.)
1 / Pooja Gupta / Head Teacher
2 / Shruti Sadana / Teacher
3 / Yamani / Student
4 / Vanshika / Student
5 / Prince / Student
6 / Ankita / Student
7 / Jyoti / Student
8 / Raunak / Student
9 / Shailesh / Student
Members of our carnival committee:
S.No / Name / Status (teacher/student/parent etc.)
1 / Mrs Pooja Gupta / Head Teacher
2 / Mrs. Shivani Dutta / Teacher
3 / Mrs. Sunita Goel / Teacher
4 / Mrs. Preeti Jain / Teacher
5 / Ms. Ankita Gupta / Teacher
6 / Ms. Ritu Jain / Teacher
7 / Mrs. Preeti Yadav / Teacher
8 / Mrs. Shanbnam / Teacher
9 / Mrs. Beena Srivastava / Teacher
10 / Mrs. Meenakshi / Teacher
11 / Ms. Sonam / Teacher
12 / Mrs. Archana Marwah / Teacher
13 / Mrs. Mamta Mudgil / Teacher
14 / Mrs.Suninder Kaur / Teacher
15 / Mrs. Bhumika Malhotra / Teacher
16 / Vanshika Malik / Student
17 / Kashish / Student
18 / Nishtha Rai / Student
19 / Aum Singhal / student
c) And this is a record of the meetings our Business Management Committee held:
Date / Number of attendees / Main subject(s) discussed / Signed off by Principal?
(Yes/No)
13/10/2017 / 9 / Donation drive / Yes
21/10/2017 / 9 / To discuss the collection of donation / Yes
2/11/2017 / 9 / To discuss use of prize money / Yes
3/11/2017 / 19 / Discussion about upcoming carnival / Yes
9/11/2017 / 5 / Quality check of items prepared for carnival / Yes
16/11/2017 / 18 / Deciding next date for carnival from 14th Nov’17 to 25th Nov’17 due to pollution related holidays / Yes
20/11/2017 / 24 / Carnival Execution / Yes
5.  Here is an explanation of what we decided to spend our profits on and how we came to that decision:
We had almost Rs 40,000/- at hand to use this year (Appx. Rs. 10,000 profit from last year and Rs. 29915 from the prize money.
It was a unanimous decision to re invest the profits from last year in the already running Re-Denim venture.
It was also unanimously decided that we shall use the prize money in a new activity.
We saw a lot of enthusiasm in many other students after winning the competition and were floored with inquires of joining the team. It was a common sentiment that an activity that may allow many to join should be identified and followed.
We, the Business Management Committee, confirm that we agreed democratically how the profits would be spent. Signed by Business Management Committee (Head):
Section D: Achievements, Challenges and Solutions

6.  These are the 3 most important things we learned and how these learnings are helping us outside of the business:

1.  To be on our toes: This year, our business saw many twists and turns. We were quite literaly on our toes. Due to the introduction of Goods and Services Tax, the market vendors and other related agencies were very confused. People were struggling with tax management and it became very difficult for us procure material or to enagage an outside agency to stitch/produce our products as was planned earlier. We had to rethink our entire designing and come back to products that we could manage to produce in school and with little help from people who had sewing machines at home like our cleaning staff in school.
2.  Being ready for the worst: We hit another block when our decided date of the Children’s Carnival was to be postponed. 14th November has a special significance in India. It marks the birthday of our 1st Prime Minister- Mr. Jawahar Lal Nehru. “pandit” Nehru was a front runner of our freedom struggle alongside Mahatama Gandhi. Not only was he thorough patriot, a great leader but also a person with immense love for Children.This love made him our beloved “CHACHA NEHRU” or the beloved uncle. His birthday is celebrated as “Children’s Day”. This date was passed by the Business Management Committee as THE date of the Carnival. But as fate would have it, Delhi was covered with heavy smog from 12th Nov to 15th Nov, with PMI levels reaching a whooping 995 mark. Schools were oredered to be closed by the Directorate of Education and we had to postpone our chosen date. This lead to all sorts of cancellations and put our whole plan into a jeopardy. We had to think and rethink and plan and replan. This made us learn the lesson to be ready for the worst.
3.  Multitasking: The Children’s Carnival was a big hit. Our team and all the executive members were praised in the school for a job well done. These accollades didn’t come easy. There were numerous situations that we faced simultaneously and handle at once. From the senior most student to the junior ones on the team, all were playing multiple roles. From welcome duty , being a host, to being an escort to being a sales person to being a cleaner…we were all held the fort like an army. The appreciation we got from our teachers and fellow students on the work well done added to our proud status.
5.  Here is a quote from each head of department explaining the biggest challenge he/she faced when planning/setting up/running our business and the solution(s) we found to overcome them:
Department / Name of student head of department / Main challenge faced (quote) / Solution(s) (quote)
Creative team/department / Khushi Gupta / We had designed so many new things, keeping in mind that this time we shall get professional finish of the products as we wanted to outsource the stitching, but with the changed tax laws, we could not find the people who could deliver in time / We spent many hours in re-designing and stuck to items that could be self -made. Fortunately, we were helped by the cleaning ladies who could sew for us at home.
Purchasing team/department / Ankita / I went to the whole sale market with my father. He knows the shops around there. To our surprise, many things were unavailable as we were informed by the shop owners that due to the introduction of GST , business was at its lowest. People were neither purchasing nor selling / The team assisted the creative team to rethink on items that may be made with the already available sources. We also searched for various things at home so that those may be used.
Sales team/department / Himanshu / The Re-denim stall and the carnival together…it was a big job to do. Convincing people to attend the carnival and buy from our outlet needed a lot of convincing / We kept an offer where, on every sale of Rs.300/-, the buyer could choose any earring worth RS. 30/- for free. This attracted many girls to our stall.
Section E: Sustainability & Business Development
6.  Our business is sustainable and has a positive impact on the environment and our community because:
We enjoyed designing and creating the products
Our parents enjoyed donating the old clothes, declutter their homes and make space for more shopping and loved to see their kids involved in serious activity.
Parents were very proud to see their kids work for a very goal oriented activity.
Many parents complemented our teachers on making us get away from the smart phones and gadgets and get down to do handiwork.
Our work is an ideal example of the 3 Rs: Recycle-Reuse-Reduce and that is how it is environmentally conscious.

We take from the people and make for the people. Our products are useful and also pocket friendly. It is said that an idea is successful when all the stake holders participate. We involved the students, school management and all staff members.

With the new venture of the Children’s Carnival, we got to work with the whole school as a big huge family. Each and every student and teacher was involved at some level. The team work itself was a proof of success.

7.  Our school business has definite potential to carry on running sustainably for at least the next year. Here is Our clear and realistic action plan for how we will continue to run it next year:
We love our work and our team. We look forward to days in school when we have to work on this project. None of us want to miss a thing. We enjoy what we do, we look forward to more work and we earn profits… is this not potential enough to run a sustainable business for years to come!

Appendix Section: Students in Action

Please find in this space some evidence that clearly shows our involvement as students in the setting up, running and management of our business. You will find 3-5 photos (or if that’s not possible, we will share quotes from participating students).
A photo of one of our sales events:

A photo of us running our business:

A photo of our Business Management Committee:

FINANCIAL REPORTING for Re-denim

1. Income (actual)

NAME OF PRODUCT OR SERVICE / QUANTITY / SALES PRICE / SALES INCOME
(Quantity x Sales Price)
Big pouch / 20 / 60 / 1200
Penstand / 15 / 130 / 1950
Hairbands / 20 / 50 / 1000
Mobile charger bag / 10 / 50 / 500
chokers / 20 / 70 / 1400
organizer / 15 / 130 / 1950
File Book cover / 20 / 200 / 4000
Big bags / 10 / 225 / 2250
Zip pouches / 15 / 60 / 900
Small slings / 17 / 170 / 2890
Earrings / 30 / 40 / 1200
Bottle plantners / 20 / 120 / 2400
Photo Frames / 10 / 170 / 1700
TOTAL SALES INCOME / Rs.23340.00 (appx $361)

2. Direct Costs (actual)

NAME OF ITEM / QUANTITY / COST PER ITEM / TOTAL COSTS
(Quantity x Cost per Item)
hairbands / 20 / 15 / 300
Chains / 35 / 10 / 350
Zip / 15 / 15 / 225
Loops / 40 / 5 / 200
Embellishments / 70 / 15 / 1050
Ribbons and Laces / 20 mtrs / 20 per mtr / 400
TOTAL DIRECT COSTS / Rs. 2525($39.14)
3. Gross Profit (actual) / Our Local Currency
(Rs.)
TOTAL SALES INCOME / 23340.00
TOTAL DIRECT COSTS / 2525.00
GROSS PROFIT
(Total Sales Income – Total Direct Costs) / 20815.00
($322.63)

4. Indirect Costs (actual)