As with many other large organisations, the University has established a number of subsidiary companies, which exist to hold and manage specific activities and resources, where it is beneficial to separate such activities from the day-to-day operation of the University (primary purpose of trading).
Teesside University has 4 existing UK subsidiary companies:
And one overseas subsidiary company:
The companies which the University have incorporated under UK company law, are for specific activities which the University operates which it wishes to be kept distinct from its legal structure as a Higher Education Corporation (HEC) and an exempt charity under charity law in England and Wales.
Subsidiary companies exist to hold and manage specific activities and resources, where it is beneficial to separate these from the University.
Setting up a separate company means that the University can operate a range of non-charitable and commercial activities, ring fenced from the University's charitable status, without compromising the charitable 'objects' of the University, the principal one of which is the 'advancement of education'. However, this does not mean that the activities of each subsidiary company is wholly commercial and may exist to support an aspect of the educational experience, either directly or indirectly.
In circumstances where one of the University's companies generates surplus income, unless a separate agreement is in place, the distributable profits are donated back to the University to invest in its core educational activities.
Each of the University's subsidiary companies is a company limited by shares under UK company law, which means that they have a separate legal 'personality' and structure from Teesside University, but they report into the University as a parent undertaking and constitute our 'Group' structure. We undertake external audits of all the University's companies, produce annual accounts and file all returns to Companies House. The Directors of all companies are appointed by and are drawn from senior management or the Governors/Trustees of the University.
View the University's Subsidiary Companies Policy and Procedure
The registered address of each of the University's UK subsidiary companies is:
Teesside University
Middlesbrough
TS1 3BX
More information on each UK company, including key documents filed, can be searched for on the Companies House website.