The JA-YE (Malta) Company Programme

MODULE 2 15th DecInformation Session – Way Forward Company Programme & Social Enterprise Programme Meeting 5 : open agenda Meeting 6 : open agenda Meeting 7 : open agenda 23rd-24th March Mediterranean Trade Fair Proposed Venue (Tigné Point/Piazza Tigne’ Sliema)

MODULE 3 6th AprWrap up event at JA-YE (Malta) offices 20th AprTeams to submit Final Report 1st MayNational Finals JulyFinals UK

Agenda Financials JA-YE Malta National Trade Fair European Trade Fair/s Alumni Social Enterprise Teams Winner of Module 1 – National Finals

Financials Raising Capital Strictly not more than 1000 shares each having a nominal value of €1. A given shareholder may buy a maximum of 25 shares – i.e. €25. All team members must be shareholders of their Company. Company Secretary is to compile a list of all shareholders and ensure it is kept always updated. Receipts of investments must also be given to each shareholder. Social Enterprise: Investors must be advised that this is a Social Enterprise Company at point of sale of shares. Shareholders should also be advised of the Company’s plan to distribute the profits and any remaining assets. This must be stated in the Share receipts handed to investors. Company Secretary is to compile a list of all shareholders with contact details and ensure it is kept always updated.

Financials Bank Accounts Bank accounts are to be opened at any HSBC Malta Branch, on presenting of the Certificate of Incorporation. Two signatories to operate account (one should be the Business Advisor) All accounts are to be closed as close to the National Finals as possible. The office is to be advised accordingly. Sponsorship Companies are not allowed to fund-raise, seek or accept cash sponsorships or donations to finance any of the operations of the Company. Nevertheless Companies may seek and receive sponsorships in kind for the following: Use of Production Premises Use of Equipment necessary in the Production Process Stand materials used at Trade Fair

Financials Sale/Services The Company may sell products either from available stock or by taking orders. When products/services are sold on order or commissioned, it is essential that customers are given an estimated date upon which the product ordered is ready to be collected or delivered or service given. If the Company is unable to honour its commitment, the customer must be kept informed and offered alternate optioned. If the clients still accept to take the product/service, a letter of apology should be included with the product/service when delivery/carried out. Customers purchasing/ordering products must be given full contact details of the Company. All sales/orders must be recorded in the appropriate section of the Sales sheet and kept in the record of the company and for viewing by the office.

Financials Creditors If necessary a Company may negotiate credit terms with suppliers. However before entering into any such debt, authorisation from the Business Advisor is required. The creditors of the company may not exceed the value of the starting share capital. Any purchases made by the Company on credit must be repaid before the Company’s liquidation. Companies still having outstanding creditors at the end of the competition will not be eligible to participate in the final part of the competition unless an acceptable and justified reason is given to the JA-YE Malta Foundation Office. Wages Wages must be paid to all deserving company members and must be included as an expense in the financial statements.

Financials VAT Registration Turnover of less than €7000 requires no Vat Registration. The new VAT registration exemption applicable as from January 2011 applies to those taxable persons (both individuals and companies) having a turnover of less than €7000. It is the full responsibility of the trading company to ensure that VAT regulations are adhered to. In this respect if and when the company has an indication (from orders) that turnover will exceed € this information is to be brought immediately to the attention of the JA-YE Malta Foundation office, in which case VAT registration and processes thereafter must be concluded.

Financials Tax A Corporation Tax of 20% of Net Profit is payable to JA-YE Malta Foundation. Amount is to be paid on submission of the Final Report and Financial Statement. Dividend All companies must call a General Meeting inviting their shareholders before National Finals. During this meeting information about the progress of the company, capital invested and dividend is to be given. At this meeting Capital and Dividend (if any) is to be paid back to the shareholders. Companies taking part in the JA-YE Social Enterprise Programme are to inform Shareholders that they are investing in a Social Enterprise Company. They are also to be advised what capital and dividend if any will be paid out.

Financials Liquidation At the end of the JA-YE Malta Foundation Company Programme Year every Company must wind-up and liquidate. All Financial Statement must be approved and signed off by their Business Advisor &/or Auditor. Once liquidated the Company cannot continue to operate and thus cannot sell or continue to accept orders. Upon the date of liquidation the Company must ensure that all products ordered are delivered to the respective customers and that all creditors are paid. On Liquidation, all teams must produce the following documents: a completed VAT de-registration form (where applicable) a completed VAT return form (where applicable) all used and unused VAT books (where applicable) receipt of payment of 20% Corporation Tax Liquidation report including a declaration of solvency. (to be attached to Final Report) Material to support teams on website

Media Press Releases, TV appearances & Visits to Dignitaries &/or Heads State or Higher Institutions Any press release or advert to be issued by the Company is to be previously vetted by the JA-YE Malta Foundation Office. Such publication is subject to the approval of the JA-YE Malta Foundation Office. Any Media coverage / TV appearance / Radio programme must be previously approved by The JA-YE Malta Foundation Office. A Member of staff must accompany the team who is also to ensure that every opportunity is taken to promote the organisation and the programmes. Any official visits conducted to Heads of State i.e President of Malta/ Prime Minister must be previously discussed and approved by the Board of JA-YE Malta Foundation. A Member of staff must accompany the team.

JA-YE Malta Foundation National Trade Fair Date: Saturday 23 rd March 2013 Venue: Piazza Tigne’, Sliema Stand structure (Shell) + Name display Measurements 2m x 1m Judging Panel

JA-YE Malta Foundation National Trade Fair – 2013 Judging Criteria Rules ONLY one Business Advisor or Link Teacher/Coordinator is allowed to be at the stand during the interviews with the judges. The judges may also interview him/her. The judges might ask for clarifications while deliberating at our offices. Judges will visit stands and interview the company members. Stands should display the following oName of Company oName of School/Country (please Insert MALTA (GOZO, MALTA) after school oNames of Business Advisers/ Link Teachers Product and/or Demonstration of service Key Points assessed by Judges Visual display Product/service idea Team spirit Sales Techniques and product/service knowledge Unique features and innovative ways of displaying products/services

JA-YE Europe Trade Fair – 2013

Other European JA-YE National Trade Fairs Belgian - Flemish Trade Fair - From 22 to 24 February 2013 Minimum 4 Achievers EUR 180 Deadline January 7th Belgian - French Trade Fair - From 1 to 3 February 2013 Maximum 5 Achievers EUR 130 Deadline January 11th Austrian Trade Fair - From 1 to 3 March 2013 Maximum 3 Achievers EUR 180 Deadline ASAP *Prices not inclusive of flights

Alumni

Good Luck!

Social Enterprise Company A 4 minute Video Pitch. Be creative!