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(A COMPANY LIMITED BY GUARANTEE)
FOR THE YEAR ENDED 31 MARCH 2026
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
COMPANY INFORMATION
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2026
The Directors present the Strategic Report for the year ended 31 March 2026.
PERFORMANCE IN 2025/26
HUC South West Limited (the Company) is a wholly controlled subsidiary of Herts Urgent Care Limited, a registered society under the Co-operative and Community Benefit Societies Act 2014. Herts Urgent Care (HUC) Limited and its subsidiaries form HUC Group (the Group), which provides health and care services for the benefit of the communities it serves. The Company delivers the Somerset Integrated Urgent Care service as part of the Group’s integrated operating model. Turnover was £12.1m, compared with £12.8m in the previous year. The Company reported a surplus after tax for the year of £1.8m During the year, the Company provided operating and support services to Access Dental Limited. Approximately £0.6m was charged for these services, reflecting the benefit received by Access Dental. The charge is eliminated in the Group’s consolidated financial statements. The result should be considered against the Company’s opening financial position. At 1 April 2025, the Company had net liabilities and negative total reserves of (£0.5m). At 31 March 2026, it had net assets and total reserves of £1.2m. The current-year result should also be considered in the context of the operating loss reported in 2023/24. Over the three years ended 31 March 2026, total turnover was £36.3m and the aggregate operating surplus was £1.9m. The stronger balance sheet provides greater financial resilience following earlier losses. It supports continued service delivery, changes in NHS commissioning, workforce and operating cost pressures and required investment. The current-year result should not be considered in isolation as an indication of future performance. The Company operates within the Group’s integrated operating model and benefits from shared systems, specialist expertise and operational capacity across finance, people, digital, governance, clinical services and operational support. This supports local delivery in Somerset while providing access to the resilience and resources of the wider Group. Improvements to call-handling, workforce deployment and the use of data continued to support service delivery and patient experience. The Group operating model also allowed resources to be shared across contact centres when demand changed. The Taunton office remains an important local base. Its colleagues provide knowledge of Somerset’s communities and local NHS relationships while benefiting from the capacity of the wider Group. FORWARD-LOOKING CHALLENGES The financial environment remains challenging. The 4.1 per cent increase in the National Living Wage from 1 April 2026 increases direct employment costs and places pressure on other pay rates. Clinical workforce costs, fuel and general inflation create further pressure. Changes in NHS commissioning structures, funding arrangements and patterns of demand may affect the timing, scope and cost of future services. The Company will continue to work with commissioners and NHS partners as these arrangements develop. Further investment is planned across the Group in technology, cyber security, CAF-aligned DSPT assurance, workforce capability and service improvement. The Company’s stronger financial position provides greater resilience while these changes and investments are managed. The focus will remain on clinically safe and financially sustainable services that provide good value for public resources. THANK YOU The Board thanks all colleagues for their care, flexibility and professionalism during the year. Their work has supported patients, commissioners, partner organisations and the communities that rely on urgent care services. PRINCIPAL RISKS AND UNCERTAINTIES The principal risks include NHS funding and commissioning change, workforce availability and cost, patient safety, operational resilience, cyber security, technology failure and inflationary pressure.
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
The Board reviews these risks regularly. They are managed through financial forecasts, workforce and operational plans, Group-wide resilience arrangements, technology controls and engagement with commissioners and partners.
FINANCIAL KEY PERFORMANCE INDICATORS The Company’s principal financial key performance indicators are turnover, operating result and net assets. Performance against these measures is set out in the Business Review above. Operational and quality measures are reviewed separately by the Board and management.
This report was approved by the board and signed on its behalf.
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2026
The Directors present their report and the financial statements for the year ended 31 March 2026.
The Company is a wholly controlled subsidiary of Herts Urgent Care (HUC) Limited, a registered society under the Co-operative and Community Benefit Societies Act 2014. The Group provides health and care services for the benefit of the communities it serves.
In accordance with the parent Society’s rules, Group surpluses are not distributed to members. They are retained within the Group to maintain prudent reserves and support continued investment in patient services, people, technology and operational resilience.
The profit for the financial year after taxation was £1,750,567, compared with £1,895,796 in 2024/25.
The result should be considered in the context of the Company’s opening net liabilities of (£519,795). At 31 March 2026, the Company had net assets of £1,230,772. This provides greater financial resilience to manage commissioning change, service pressures and required investment.
The Directors who served during the year were:
The Company expects to continue delivering the Somerset Integrated Urgent Care service under its existing contract, while working with commissioners and partners to improve care pathways and system resilience.
Priorities for 2026/27 include maintaining service quality, responding to commissioning and funding changes, managing workforce and operating cost pressures and supporting planned investment in technology, cyber security and service improvement. GOING CONCERN The Directors have reviewed detailed financial forecasts and cash-flow projections covering the period to at least 31 March 2028. The assessment includes the Company’s expected trading position, working capital, cost pressures, planned investment and continuing financial and operational support available from its parent. The forecasts include a base case and severe but plausible downside scenarios. The Board has also considered the mitigating actions available to management. Based on this assessment, the Directors have a reasonable expectation that the Company has adequate resources to continue operating for the foreseeable future, being at least 12 months from the date on which the financial statements are authorised for issue. The financial statements have therefore been prepared on a going concern basis.
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
There have been no significant events affecting the Company since the year end.
The auditors, Bishop Fleming Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2026
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HUC SOUTH WEST LIMITED
We have audited the financial statements of HUC South West Limited (the 'Company') for the year ended 31 March 2026, which comprise the Statement of income and retained earnings, the Statement of financial position, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HUC SOUTH WEST LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HUC SOUTH WEST LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
∙we have considered the nature of the sector, control environment, business performance and key drivers for directors’ remuneration and performance targets;
∙we have considered the results of enquiries with management in relation to their own identification and assessment of the risk of irregularities within the Company;
∙we have reviewed the Company’s documentation of their policies and procedures relating to:
°identifying, evaluation and complying with laws and regulations and whether they were aware of any instances of non-compliance;
°detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
°the internal controls established to mitigate risks of fraud or noncompliance with laws and regulations;
∙we have considered the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
As a result of these procedures, we have considered the opportunities and incentives that may exist within the organisation for fraud and identified the highest area of risk to be in relation to revenue recognition, with a particular risk in relation to year-end cut-off and significant estimates. In common with all audits under ISAs (UK) we are also required to perform specific procedures to respond to the risk of management override.
We have also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Companies Act 2006, FRS 102 and UK tax legislation. In addition, we considered the provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Company’s ability to operate or avoid a material penalty.
Our procedures to respond to risks identified included the following:
∙reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
∙performing analytical procedures to identify unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
∙reviewing board meeting minutes;
∙enquiring of management in relation to actual and potential claims or litigations or areas of non-compliance with laws and regulations;
∙performing detailed testing in relation to the recognition of revenue, with a particular focus around year-end cut-off;
∙in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgments made in accounting estimates are indicative of potential bias, and evaluating the business rationale of significant transactions that are unusual or outside the normal course of business.
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HUC SOUTH WEST LIMITED (CONTINUED)
We also communicated identified laws and regulations and potential fraud risks to all members of the engagement team and remained alert to possible indicators of fraud or non-compliance with laws and regulations throughout the audit.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
Salt Quay House
4 North East Quay
Sutton Harbour
PL4 0BN
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 MARCH 2026
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
REGISTERED NUMBER:05174987
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2026
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 13 to 26 form part of these financial statements.
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2026
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
The Company is a company limited by guarantee, incorporated in England and Wales in the United Kingdom.
The address of its registered office is: Huc Hq, Ascots Lane, Welwyn Garden City, Hertfordshire, AL7 4HL.
2.ACCOUNTING POLICIES
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Herts Urgent Care (HUC) Limited, the parent Society, as at 31 March 2026, which may be obtained from The Old Ambulance Station, Ascots Lane, Welwyn Garden City, Hertfordshire, AL7 4HL.
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.ACCOUNTING POLICIES (CONTINUED)
HUC South West Limited delivers the Somerset Integrated Urgent Care service under a contract running until March 2029. The Company operates as part of the wider HUC Group and benefits from the resilience, specialist support and operational capacity provided through the Group operating model.
At 31 March 2026, the Company had net assets of £1.2m. The Board has reviewed and approved detailed financial forecasts covering the period to at least 31 March 2028, which exceeds 12 months from the expected date of approval of the financial statements. The forecasts reflect agreed contractual funding, expected activity, working capital requirements, the 4.1% increase in the National Living Wage from April 2026, clinical workforce costs, fuel and general inflation and planned investment. The assessment also considers changes in NHS commissioning structures and funding arrangements, together with the continuing Group investment in technology, cyber security and CAF-aligned DSPT assurance. The assessment includes a base case and severe but plausible downside scenarios. The Board has considered available mitigating actions, including workforce and rota planning, productivity improvements, management of discretionary expenditure and engagement with commissioners. The Board has considered the Company’s standalone forecasts, its existing Group operating arrangements and the continuing financial and operational support available from its parent. It is satisfied that the Company has access to sufficient resources to meet its obligations as they fall due throughout the forecast period. The Board has not identified a material uncertainty related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. Accordingly, the financial statements have been prepared on a going concern basis.
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.ACCOUNTING POLICIES (CONTINUED)
Page 15
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.ACCOUNTING POLICIES (CONTINUED)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line or reducing balance method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.ACCOUNTING POLICIES (CONTINUED)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Impairment of financial assets
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.ACCOUNTING POLICIES (CONTINUED)
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects that period only, or in the period of revision and future periods if the revision affects both current and future periods. The Company has made no judgements in applying the accounting policies other than those involving accounting estimates. The following are assumptions about the future and other major sources of estimation uncertainty that have a significant risk of resulting in a material adjustment to the carrying amounts of asset and liabilities within the next financial year: Depreciation Depreciation is based on automatic calculations within the Fixed Asset Register and is calculated on a monthly basis throughout the year. When an asset is added to the Fixed Asset Register, it is given a useful economic life by the capital accountant, depending on the class of asset. This estimate will take into account past experience. Typically more expensive items have a longer lifespan which reduces the degree of sensitivity of charges.
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Page 19
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Page 20
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
There were no factors that may affect future tax charges.
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Page 22
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Page 23
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Page 24
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Other reserves
Profit and loss account
The Company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £10 towards the assets of the company in the event of liquidation.
At 31 March 2026 the Company had no capital commitments (2025: £Nil)
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £548,867 (2025: £125,727). Contributions totalling £1,764 (2025: £23,246) were payable to the fund at the balance sheet date and are included in creditors.
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HUC SOUTH WEST LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
HUC South West Limited’s ultimate controlling party is Herts Urgent Care (HUC) Limited, a registered society under the Co-operative and Community Benefit Societies Act 2014, registered number IP30301R. Its registered office is The Old Ambulance Station, Ascots Lane, Welwyn Garden City, Hertfordshire, AL7 4HL.
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