ICU Trading Subsidiary
Why have we done this?
Our new trading company is Imperial Union Trading Ltd.
Lots of UK charities (including other Student' Unions) use trading companies to manage the stuff that falls outside their official charitable work.
ICU's subsidiary is 100% owned by the union - this means every penny of profit will be given straight back to ICU to fund student services. The company’s Board includes ICU trustees and senior union staff.
What does this mean for ICU?
This keeps commercial risk separate from our charitable assets, and makes sure we follow Charity Commission and HMRC rules on tax and trading.
It also allows us to run activities that don’t necessarily fit into our 'charitable objectives' but still benefit students.
We can also maximise income now too so we can reinvest in things like club and society funding and better student spaces in the union building.
So what's next?
This move makes us financially stronger and allow us to continue to support Imperial College students at the same time, which is ultimately our key mission.
- We will be looking at clear governance and financial processes so students know where the money goes.
- We are all set up in line with Charity Commission guidance (CC35) and best practice for charities.
- We will have regular student meetings so students are always up to date on both our charity work and commercial activities.