Pupils from a school in Wrexham have won an enterprise competition organised by the UK's leading enterprise charity and Wales' largest building society.

Pupils from Year 6 at Ysgol Sant Dunawd, in Bangor-on-Dee, took home two awards for 'Best Logo' and 'Best Sales Pitch' as part of the Fiver Challenge competition, run by Young Enterprise and funded in Wales by Principality Building Society.

The Fiver Challenge initiative asks pupils aged five to 11 years to create, research and plan a business with just £5.

More than 3,000 children across Wales took part in the challenge this summer, which allows primary school pupils to develop their creativity, commercial awareness and money management skills.

Team 'Wood You Like' won the Best Logo category and Rhys received the Best Sales Pitch award for his business idea - Rhys' Ring Pulls.

With a focus on protecting the environment, Rhys' business idea Rhys' Ring Pulls looked at recycling ring pulls from drinks cans into bracelets, with the profits being donated to hospice charity Marie Curie and Chirk Court Care Home, who cared for Rhys' grandad.

For the competition element, Rhys pitched his idea in a 60 second video to judges, with the purpose of the pitch to be able to attract potential investors. Rhys also received the Best Sales Pitch award in the UK wide competition.

Pupils from team 'Wood You Like' were awarded the title of Best Logo for their creative design, which fit the judging criteria of being memorable as well as showcasing what the business was. Each winner will also receive an iPad donated by Principality.

Sarah Morris, deputy head teacher at Ysgol Sant Dunawd, said: "The Fiver Challenge is a fantastic opportunity for young children to gain an insight into planning and running their own businesses. They learnt so many skills during the project such as working as a team, leadership skills and understanding profit and loss.

"Our pupils were thrilled this year to be able to take on the challenge back in the classroom again. They really enjoyed the whole process, including market research, designing their logos and pitching their ideas. 

"We are so proud of them for working so hard and coming up with fantastic business ideas.''

As the sponsor of the Fiver Challenge in Wales for three years, Principality provided funding allowing Young Enterprise to bring the challenge to Wales on a larger scale and in the Welsh language.

Since 2019, the Society has been working with partners such as Young Money and Young Enterprise to reach 48,000 children and young people with financial education and careers based activities.

Vicky Wales, chief customer officer at Principality Building Society, said: "As a member-owned organisation, we are passionate about helping young people to build their life skills, which includes supporting hard working schools with financial education and careers-based activities.

"We were blown away by the entries from across Wales this year. It was clear there was a real focus on sustainability and protecting our environment in their business ideas, as well as giving back to the local community. No doubt we are seeing our future entrepreneurs here.''

Sharon Davies, chief executive, Young Enterprise, said: "This three-year partnership between Principality and Young Enterprise to run the Fiver Challenge in Wales provides such an important opportunity for young people to develop vital financial capability and enterprise skills.

"We were so impressed by the resourcefulness, creativity, and innovation exhibited by the all the young people this year, especially during what has been such a challenging year.

"Starting early is critical, if we are to shape young people's aspirations of what they can achieve and help them develop the enterprising mind sets they'll need to build positive futures.''

The Fiver Challenge is set to launch again in September 2021, with schools having the flexibility to pick when they run the challenge in class throughout the academic year.

• To find out more, visit www.principality.co.uk/fiverchallenge