Rock Trust receives £0.9m from proceeds of Balnacraig School liquidation

Rock Trust receives £0.9m from proceeds of Balnacraig School liquidation

Shona Campbell

Surplus funds resulting from the winding up of one of Scotland’s oldest charities have been passed on to the Rock Trust to go towards the prevention of youth homelessness.

At the request of Balnacraig School’s board of directors, the liquidator Shona Campbell, of Henderson Loggie, has passed £887,489.39 to the charity.

Established in Perth in 1843, Balnacraig School 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 of the board of trustees 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 funds derived from the liquidation process are being directed towards the Rock Trust, a charity dedicated to preventing homelessness and supporting vulnerable young people in Scotland. 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 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.”

Ms Campbell, business recovery and insolvency partner at Henderson Loggie, said: “It was a privilege to work with former trustees to implement a strategy for dispersal of funds arising from the liquidation process that is in line with its charitable purpose.

“We have realised a considerable sum in a relatively short space of time that will be used to improve the lives of disadvantaged young people under the auspices of the Rock Trust, and that is a good outcome for everyone involved.”

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