HEALTHCARE SUPPORT (NEWCASTLE) LIMITED

• ⚠

  Confirmation statement overdue

  Due 2026-05-17.

• ⚠

  Material uncertainty over going concern

  The Directors have a reasonable expectation that the Majority Creditors will not exercise their rights if Events of Default occur in future to require repayment of the outstanding borrowings for a period of at least 12 months from the date of approval of the financial statements, however this is not guaranteed as there remains a large degree of uncertainty around the ongoing issues with the project and impact these could have on service failure points and deductions. As such, the Company is dependent on the Majority Creditors not exercising their rights to demand repayment of amounts owed following the existence of potential future Events of Default caused by these issues, which is not guaranteed. This indicates the existence of a material uncertainty which may cast significant doubt on the Company's ability to continue as a going concern and therefore, the Company may be unable to realise its assets and discharge its liabilities in the normal course of business.

• ◆

  Audit opinion: Disclaimer of opinion

  Latest auditor's report carried a non-clean opinion.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  +39.8%

  £18,729,000 → £26,181,000

• Cash

  +122.7%

  £34,828,000 → £77,567,000

• Net assets

  -165.9%

  -£3,500,000 → -£9,307,000

• Employees

  —

  Not reported

• Operating profit

  -58.8%

  -£1,872,000 → -£2,972,000

• Profit before tax

  +31.1%

  -£12,158,000 → -£8,374,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

1. HEALTHCARE SUPPORT (NEWCASTLE) LIMITED 2003-10-20 → present
2. LAING INVESTMENTS UTILITIES HOLDINGS LIMITED 2002-03-22 → 2003-10-20

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

BDO LLP

Audit opinion

Disclaimer of opinion

Going concern

Material uncertainty disclosed

“The Directors have a reasonable expectation that the Majority Creditors will not exercise their rights if Events of Default occur in future to require repayment of the outstanding borrowings for a period of at least 12 months from the date of approval of the financial statements, however this is not guaranteed as there remains a large degree of uncertainty around the ongoing issues with the project and impact these could have on service failure points and deductions. As such, the Company is dependent on the Majority Creditors not exercising their rights to demand repayment of amounts owed following the existence of potential future Events of Default caused by these issues, which is not guaranteed. This indicates the existence of a material uncertainty which may cast significant doubt on the Company's ability to continue as a going concern and therefore, the Company may be unable to realise its assets and discharge its liabilities in the normal course of business.”

Significant events

• “The Company and its associated companies Healthcare Support (Newcastle) Finance Plc (Pic) and Healthcare Support (Newcastle) Holdings Limited (Holdco) concluded two material transactions following the balance sheet date. The Company entered into a settlement transaction with the Newcastle Upon Tyne Hospitals NHS Foundation Trust (the Trust), Mitie FM Limited (Mitie) and Laing O'Rourke Delivery Limited on 20 August 2025 whereby the parties agreed to settle certain historical claims between them, Project Co and the Trust agreed to effect certain amendments to the terms of the Project Agreement entered into by them on 4 May 2005 in connection with the Project, Project Co and Mitie agreed to effect certain amendments to the terms of the Service Contract entered into by them on 4 May 2005 in connection with the Project and Project Co's Majority Creditors agreed a waive a number of Events of Default and Trigger Events subsisting for the purposes of the financing agreements related to the Project. The Company also entered into a Bond Commutation transaction with their senior creditors on 20 August 2025 whereby the guarantee provided by Syncora Guarantee Inc in respect of the index-linked secured bonds issued by the Company was terminated and Syncora Guarantee Inc was released from certain of its related obligations under financing agreements related to the Project and the coupon payable on the index-linked secure bonds issued by the Company was increased from 2.1870% to 2.3495%.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

4

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.