Change, but no change
On 1 November 2016, the start of our new financial year, Helford River Children’s Sailing Trust, like many other charities, became a Charitable Incorporated Organisation – a “CIO”.
This means that we have a new Registered Charity number (1165396). All the assets and liabilities of the former charity have been transferred to the new charity that has the same name as its predecessor.
So, in many ways nothing has changed, and you may ask why have we made this move?
HRCST was established in 1997 as a trust that could only operate through its trustees and had no identity of its own. Nearly twenty years later, HRCST has significant assets, especially the freehold of Trevassack Lake, and our professional advisers recommended that a CIO is now the appropriate legal structure for the charity. We remain under the regulation of the Charity Commission.
The most noticeable change apart from the registered charity number is that we have a new bank account with a new account number, but, overall, the change will have no impact whatsoever on the day to day operations of HRCST.