Best way to create and organise tests

What would be the most efficient way of organising tests for this scenario:

I want to have my test cycles in subfolders so that they are under the app name and then under the version name, E.g. APP NAME - V9.5.0

However, when a new version is released and I create another folder e.g. v9.5.6, what would be the best way of migrating all of the tests into v9.5.6 but would also allow me to edit them without affecting the tests in the older folder v9.5.0?

The only way I can see is if I create a new test cycle, add in all of the tests and then go into each test that I want to edit, create a new version, edit it and save it, is this the best way?