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While there are many variations on this, the main ones include the addition of restrictions only allowing funds to be spent in a particular geographical area (like “England & Wales” or “Liverpool” etc.); or limits on what the funds can be spent on (like nurseries for poor children, and homes for the in rm).
As a trustee you need to be familiar with these objects, because the charity’s funds can only be spent on activities which fall within them. If the objects
no longer re ect what the charity wishes to do, then it would be prudent to consider formally changing the objects, rather than risk applying funds outside of them. If funds are applied outside the objects this is a breach of trust by the trustees which might result in an action for repayment of the funds or, a worst case scenario where the trustees in question are struck off.
DO YOU KNOW THE CHARITY’S PRIMARY REGULATORS?
Is the charity registered with Companies House/Charity Commission/ Of ce of the Scottish Charity Regulator(OSCR)/Her Majesty’s Revenue and Customs (HMRC)?
Companies House
If your charity is set up as a company limited by guarantee under the laws of England and Wales it will be registered with Companies House. You can check to see if the name of your charity is on the register at: https://www.gov.uk/government/organisations/companies-house
(Every such company has a unique company number, which if you don’t have it can also be found on the register.)
You will need to make sure that compliant accounts and annual return/ con rmation statement are led annually, and that you are complying with the requirements to notify them every time a director (trustee) is appointed or steps down etc. Companies House has a helpful guidance note available to download which covers the main events that will require lings to be made with them: “Life of a company part 2: event driven lings”.
https://www.gov.uk/government/publications/life-of-a-company-event-driven- lings/life-of-a-company-part-2-event-driven- lings
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