One of the country's oldest charities has closed

A charity’s closure has led to a huge windfall for Edinburgh’s Rock Trust.

Balnacraig School, one of Scotland's oldest charities, was wound up with surplus funds of £887,489.39 going  to the homeless charity.

Balnacraig School, established in Perth in 1843, was an integral part of Scotland's charitable landscape, providing care for approximately 2,000 children over its long history.

The decision to seek liquidation came as a result of a decline in referrals and the inability to proceed with the sale of the large listed baronial mansion at Fairmount Terrace in Perth, its centre of operations, which was put up for sale in 2019 to facilitate the charity's evolution and better meet the changing needs of young people.

David Law, former chair at Balnacraig School, said: "Our hope had been to continue as a charity for young people, and while we were saddened by the need for liquidation, we are pleased that Shona Campbell and her team at Henderson Loggie has realised such a significant sum which will be used to continue to support young people in need."

The Rock Trust will use these funds to further its mission and expand its reach to positively impact the lives of those in need.

Kate Polson, CEO of Rock Trust, said: “Balnacraig School Trustees have preserved a great legacy by ensuring that their remaining funds are invested in preventing young people becoming homeless in Perthshire and beyond.

“The Rock Trust is working in partnership with housing departments, schools and supporters to provide prevention programmes, and accessible housing with support, to young people. We are very grateful to the Trustees as the funds have enabled us to invest in a new prevention programme which will make a massive impact on young people and their families.”