The BST is a registered charity which awards scholarships to promising postgraduate students from the countries of former Yugoslavia for short periods of study in the United Kingdom. 

The Trust was established after the First World War following an appeal to the British people to help educate young people from Serbia. The generous donations were invested in equities (shares) and gilts (bonds) in the London stock market, and the income (dividends and interest) finances our scholarships. Between the two world wars, the scholarships were extended to cover the whole of Yugoslavia. After the break-up of Yugoslavia, Slovenia decided to withdraw from the scheme, and the Trust currently covers the following countries: Bosnia-Herzegovina, Croatia, Kosovo, North Macedonia, Montenegro and Serbia. 

The Trust is a registered charity (1031428) and its affairs are governed by the regulations of the Charity Commission. The Trust is managed by eight trustees: a chairperson, a treasurer and six members. The services of the trustees are voluntary and unpaid.