<PAGE>   1
                                    FORM 10-Q
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


(Mark One)

[x] Quarterly report pursuant to Section 13 or 15 (d) of the Securities Exchange
    Act of 1934

For the quarterly period ended June 30, 2001.

[ ] Transition report pursuant to Section 13 or 15 (d) of the Securities
    Exchange Act of 1934

For the transition period from _____________ to _____________

                         Commission File Number: 0-19889

                  SOUTH HERTFORDSHIRE UNITED KINGDOM FUND, LTD.
                  ---------------------------------------------
                Exact name of registrant as specified in charter


Colorado                                                              84-1145140
--------------------------------------------------------------------------------
State of organization                                      I.R.S. employer I.D.#

                     Caxton Way, Watford, WD18 8XH, England
                     --------------------------------------
                      Address of principal executive office

                               011 44 1923 435000
                               ------------------
                          Registrant's telephone number

      Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.

      Yes                                                              No   X
         -----                                                            -----
<PAGE>   2
                          Part I Financial Information

                           Item I Financial Statements

                  SOUTH HERTFORDSHIRE UNITED KINGDOM FUND, LTD.
                             (A LIMITED PARTNERSHIP)

                           CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>
                                                                                             Unaudited
                                                                                              June 30,      December 31,
                                                                                                  2001              2000
                                                                                          ------------      ------------
<S>                                                                                       <C>               <C>
ASSETS
Investment in cable television and telecommunications properties
(net of  accumulated depreciation and amortization of  $46,295,048 and $37,994,401 at
June 30, 2001 and December 31, 2000, respectively)                                        $ 57,555,600      $ 70,066,182


 Other assets                                                                                  304,050           300,080
                                                                                          ------------------------------
 Total assets                                                                             $ 57,859,650      $ 70,366,262
                                                                                          ------------------------------
 LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)
 Current Liabilities
 Accounts payable to affiliates and related parties                                       $ 53,295,312      $ 32,690,227
 Accrued liabilities                                                                           513,125           362,125
 Current installments on loan facility                                                              --         7,206,138
                                                                                          ------------------------------
 Total current liabilities                                                                  53,808,437        40,258,490
  Long-term debt                                                                                    --        14,412,275
                                                                                          ------------------------------
  Total liabilities                                                                         53,808,437        54,670,765
                                                                                          ------------------------------
  MINORITY INTERESTS                                                                         1,869,532         5,645,599

  PARTNERS' CAPITAL (DEFICIT)
  General Partner-
    Contributed capital                                                                          1,000             1,000
    Accumulated deficit                                                                       (465,194)         (391,799)
                                                                                          ------------------------------
                                                                                              (464,194)         (390,799)
  Limited Partners-
    Net contributed capital (56,935 units outstanding at
      June 30, 2001 and December 31, 2000 respectively)                                     48,817,997        48,817,997
  Accumulated deficit                                                                      (45,773,090)      (38,506,948)
                                                                                          ------------------------------
                                                                                             3,044,907        10,311,049

Accumulated comprehensive (loss) income                                                       (399,032)          129,648
                                                                                          ------------------------------
Total partners' capital                                                                      2,181,681        10,049,898
                                                                                          ------------------------------
TOTAL LIABILITIES AND PARTNERS' CAPITAL                                                   $ 57,859,650      $ 70,366,262
                                                                                          ------------------------------
</TABLE>

   Note: The balance sheet at December 31, 2000 has been derived from audited
                       financial statements at that date

                             See accompanying notes


                                        2
<PAGE>   3
                  SOUTH HERTFORDSHIRE UNITED KINGDOM FUND, LTD.
                             (A LIMITED PARTNERSHIP)

                 UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

<TABLE>
<CAPTION>
                                                          For the three months ended         For the six months ended
                                                                    June 30,                          June 30,
                                                                    --------                         --------
                                                             2001             2000             2001              2000
                                                         -----------      -----------      ------------      ------------
<S>                                                      <C>              <C>              <C>               <C>
REVENUES                                                 $ 7,030,445      $ 6,729,484      $ 14,056,685      $ 13,862,799

COSTS AND EXPENSES
  Cost of revenue                                         (2,945,773)      (2,669,877)       (6,110,793)       (5,520,996)
  Selling, general and administrative                        (33,069)          (3,426)          (68,563)          (65,140)
  Management fees and allocated
    overhead from the General Partner                     (3,640,794)      (3,489,559)       (6,969,953)       (6,160,071)
  Depreciation and amortization                           (1,755,198)      (1,232,682)      (10,949,231)       (2,398,862)
                                                         ----------------------------------------------------------------
OPERATING LOSS                                            (1,344,389)        (666,060)      (10,041,855)         (282,270)

OTHER EXPENSE
   Interest expense (interest payable to related
  parties  amounted to $587,046 and $529,666 for the
  six months ended June 30, 2001 and 2000,                  (295,880)        (822,325)         (848,566)       (1,665,584)
  respectively)
  Other                                                      (21,381)         (23,022)          (43,376)          (47,079)
                                                         ----------------------------------------------------------------
LOSS BEFORE MINORITY INTERESTS                            (1,661,650)      (1,511,407)      (10,933,797)       (1,994,933)
  Minority interests                                         529,086          474,552         3,594,260           616,004
                                                         ----------------------------------------------------------------
NET LOSS                                                 $(1,132,564)     $(1,036,855)     $ (7,339,537)     $ (1,378,929)
                                                         ----------------------------------------------------------------

ALLOCATION OF NET LOSS
  General Partner                                        $   (11,326)     $   (10,369)     $    (73,395)     $    (13,789)
  Limited Partners                                       $(1,121,238)     $(1,026,486)     $ (7,266,142)     $ (1,365,140)
                                                         ----------------------------------------------------------------
 NET LOSS                                                $(1,132,564)     $(1,036,855)     $ (7,339,537)     $ (1,378,929)
                                                         ================================================================
NET LOSS PER LIMITED
  PARTNERSHIP UNIT                                       $    (19.69)     $    (18.03)     $    (127.62)     $     (23.98)
                                                         ================================================================
WEIGHTED AVERAGE NUMBER
OF LIMITED PARTNERSHIP
  UNITS OUTSTANDING                                           56,935           56,935            56,935            56,935
                                                         ================================================================
</TABLE>

            UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

<TABLE>
<CAPTION>
                                               For the three months ended         For the six months ended
                                                         June 30,                          June 30,
                                                         ---------                         --------

                                                  2001             2000             2001             2000
                                               -----------      -----------      -----------      -----------
<S>                                            <C>              <C>              <C>              <C>
NET LOSS                                       $(1,132,564)     $(1,036,855)     $(7,339,537)     $(1,378,929)
  Foreign currency translation adjustments        (250,365)        (774,346)        (529,501)        (973,147)
                                               --------------------------------------------------------------
COMPREHENSIVE LOSS                             $(1,382,929)     $(1,811,201)     $(7,869,038)     $(2,352,076)
                                               --------------------------------------------------------------
</TABLE>

                             See accompanying notes


                                       3
<PAGE>   4
                  SOUTH HERTFORDSHIRE UNITED KINGDOM FUND, LTD.

                             (A LIMITED PARTNERSHIP)

                 UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS

<TABLE>
<CAPTION>
                                                                                      For the six months ended
                                                                                               June 30,
                                                                                               --------
                                                                                        2001             2000
                                                                                    ------------      -----------
<S>                                                                                 <C>               <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Net loss                                                                          $ (7,339,537)     $(1,378,929)
Adjustments to reconcile net loss to net cash generated by operating activities
  Minority interests                                                                  (3,594,260)        (616,004)
  Depreciation and amortization                                                       10,949,231        2,398,862

Change in operating assets and liabilities
  Decrease in prepaid expenses and other assets                                          (19,124)         (15,421)
  Increase in accounts payable to affiliates and related parties                      23,218,440        5,175,437
  Decrease in trade accounts payable and accrued liabilities                             151,000          151,000
                                                                                    -----------------------------
     Net cash generated in operating activities                                       23,365,750        5,714,945

CASH FLOWS FROM INVESTING ACTIVITIES
  Construction payments for cable television/telephony system                         (2,436,710)      (3,030,695)

CASH FLOWS FROM FINANCING ACTIVITIES
  Decrease in loans                                                                  (20,929,040)      (2,725,874)
  Principal payments under capital leases                                                     --          (34,525)
                                                                                    -----------------------------
      Net cash used in financing activities                                          (20,929,040)      (2,760,399)
                                                                                    -----------------------------
Decrease in cash and cash equivalents before exchange rate changes                            --          (76,149)
Effect of currency exchange rate changes on cash                                              --          (14,024)
                                                                                    -----------------------------
Net decrease in cash and cash equivalents                                                     --          (90,173)
Cash and cash equivalents, beginning of period                                                --          273,189
                                                                                    -----------------------------
Cash and cash equivalents, end of period                                                      --      $   183,016
                                                                                    -----------------------------
SUPPLEMENTAL CASH FLOW DISCLOSURES
Interest paid                                                                       $         --      $ 1,126,725
</TABLE>

                             See accompanying notes


                                       4
<PAGE>   5
                  SOUTH HERTFORDSHIRE UNITED KINGDOM FUND, LTD.
                             (A LIMITED PARTNERSHIP)

                     NOTES TO UNAUDITED FINANCIAL STATEMENTS

(1)  BASIS OF PRESENTATION

     The accompanying financial information should be read in conjunction with
the financial statements of the South Hertfordshire United Kingdom Fund, Ltd.
(the "Partnership"), including the notes thereto, for the year ended December
31, 2000. The financial information included herein is unaudited. However, in
the opinion of management, such information reflects all adjustments, consisting
only of normal recurring adjustments, necessary to present fairly the financial
position of the Partnership at June 30, 2001 and its results of operations and
cash flows for the six month periods ended June 30, 2001 and 2000. Results of
operations for these periods are not necessarily indicative of results to be
expected for the full year. As a result of the Partnership's ownership of 66.7
percent of the shares of ntl (South Hertfordshire) Limited (formerly Cable and
Wireless Communications (South Hertfordshire) Limited), (formerly Bell
Cablemedia (South Hertfordshire) Limited) (the "Company"), for accounting
purposes it has been consolidated with the Partnership's operations.

(2)  INVESTMENT IN SUBSIDIARY

     The Company is a United Kingdom corporation that owns and operates a cable
television/telephony system in the South Hertfordshire franchise area, located
adjacent to the northwest perimeter of Greater London, England (the "South Herts
System"). At June 30, 2001, there were approximately 94,000 homes in the
franchise area, of which 91,618 had been passed by the South Herts System.

     The Company is owned 66.7 percent by the Partnership and 33.3 percent by
ntl (CWC) Limited, (formerly Cable & Wireless Communications plc). The general
partner of the Partnership is Fawnspring Limited (the "General Partner"), a
wholly owned subsidiary of ntl (CWC) Limited. The General Partner provides
consulting services to the Partnership and may delegate some or all of the
consulting services to ntl (CWC) Limited or to other affiliates.

     ntl (CWC) Limited, through its subsidiaries and its interest in the
Company, holds exclusive cable television licenses and related non-exclusive
telecommunications licenses covering more than six million potential residential
customers, representing approximately 25% of all homes in the United Kingdom
(including 59% of all homes in Greater London), and substantially all
small-to-medium sized business customers within its 47 cable franchise areas.

     On July 26 1999, Cable & Wireless plc ("C&W"), NTL Incorporated ("NTL") and
Cable & Wireless Communications plc ("C&W Comms") announced:

(a)  the proposed separation of C&W Comms into its corporate, business, Internet
     protocol and wholesale operations ("CWC DataCo") and its residential cable,
     business cable, indirect residential telephony, residential Internet and
     digital television development and services businesses ("CWC ConsumerCo"),
     (which includes the Company);

(b)  the proposed indirect acquisition by C&W of the 47 per cent interest in CWC
     DataCo which is not currently attributable to it (thereby achieving 100 per
     cent ownership of CWC DataCo); and

(c)  the proposed indirect acquisition by NTL of CWC ConsumerCo (together with
     the proposed separation of C&W Comms and the C&W acquisition, the
     "Transaction").

      Following the approval of shareholders, bondholders and the competition
authorities the Transaction completed on May 30, 2000, at which date ntl
Incorporated acquired CWC ConsumerCo, which subsequently changed its trading
name to ntl (CWC) Limited.


                                       5
<PAGE>   6
(3)  TRANSACTIONS WITH AFFILIATED ENTITIES

     An affiliate of the General Partner is entitled to be paid a consulting fee
by the Company. During the construction phases of the South Herts System, this
consulting fee was 2 per cent of construction costs. After completion of
construction of each portion of the system, the consulting fee for the completed
portion has been 5 per cent of the gross revenues, excluding revenues from the
disposal of cable television/telephony systems. The consulting fee is calculated
and payable monthly. Consulting fees paid or payable by the Company for the
three months ended June 30, 2001 and 2000 were $380,003 and $350,492
respectively. Consulting fees paid or payable by the Company for the six months
ended June 30, 2001 and 2000 were $751,547 and $741,308 respectively. These
amounts were expensed in the Unaudited Consolidated Statements of Operations for
each period.

     The General Partner and its affiliates are entitled to reimbursement from
the Company for direct and indirect expenses allocable to the operation of the
South Herts System, and from the Partnership for direct and indirect expenses
allocable to the operation of the Partnership, which include, but are not
limited to, rent, supplies, telephone, travel, copying charges and salaries of
any full or part-time employees. The General Partner believes that the
methodology used in allocating these expenses is reasonable. During the three
months ended June 30, 2001 and 2000, reimbursements made by the Company and the
Partnership to the General Partner or its affiliates for any allocable direct
and indirect expenses totaled $3,260,791 and $3,139,067 respectively. During the
six months ended June 30, 2001 and 2000, reimbursements made by the Company and
the Partnership to the General Partner or its affiliates for any allocable
direct and indirect expenses totaled $6,218,406 and $5,418,763 respectively.

     The General Partner and its affiliates may make advances to, and defer
collection of fees and allocated expenses owed by the Partnership, although they
are not required to do so. The Partnership will be charged interest on such
advances and deferred amounts at a rate equal to the General Partner's or
certain affiliates' weighted average cost of all debt financing from
unaffiliated entities. For the three months ended June 30, 2001 and 2000,
interest on deferred fees of $271,086 and $241,199 respectively was charged by
an affiliate of the General Partner, and interest on advances of $24,794 and
$24,128 respectively was charged by the General Partner. For the six months
ended June 30, 2001 and 2000, interest on deferred fees of $537,654 and $480,948
respectively was charged by an affiliate of the General Partner, and interest on
advances of $49,392 and $48,718 respectively was charged by the General Partner.

(4)  FINANCINGS

     On April 18, 1995 the Company entered into an agreement with two major
banks to provide a L25,000,000 revolving and term loan credit facility agreement
maturing on December 31, 2003 (the "South Herts Credit Agreement"). On October
18, 1996, L5,000,000 was canceled and the facility reduced to L20,000,000.

     The outstanding facility of L14,475,000 and interest was repaid in full
with funding from NTL on February 21, 2001. NTL has agreed to provide ongoing
financial support, as required, to enable the Company to continue its operations
for the foreseeable future.


                                       6
<PAGE>   7
                  SOUTH HERTFORDSHIRE UNITED KINGDOM FUND, LTD.
                             (A LIMITED PARTNERSHIP)

     ITEM 2 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
                              RESULTS OF OPERATIONS

LIQUIDITY AND CAPITAL RESOURCES

     The Partnership. The Partnership's source of cash has been the net proceeds
of its offerings of limited partnership interests. Historically, the
Partnership's principal uses of cash have been capital contributions to the
Company in order to fund the Partnership's proportionate share of the
construction costs of the South Herts System. As discussed below, the General
Partner believes that no additional capital contributions will be required to
fund the completion of construction and operations of the South Herts System.
Accordingly, in the future, the Partnership's uses of cash will be restricted to
covering its administration costs (principally insurance premiums, legal and
accounting costs associated with the Partnership's annual audit and periodic
regulatory filings and general administration). As of June 30, 2001 the
Partnership had current liabilities of $2,068,209 most of which were payable to
the General Partner. Accordingly, until such time as the Company begins to pay
dividends on its ordinary shares (which is not expected in the foreseeable
future) the Partnership will be required to fund its administrative expenses by
additional issuances of limited Partnership interests or from borrowings.

     The Company. On April 18, 1995 the Company entered into an agreement with
two major banks to provide a L25,000,000 revolving and term loan credit facility
agreement maturing on December 31, 2003 (the "South Herts Credit Agreement"). On
October 18, 1996, L5,000,000 was canceled and the facility reduced to
L20,000,000.

     The outstanding facility of L14,475,000 and interest was repaid in full
with funding from NTL on February 21, 2001. NTL has agreed to provide ongoing
financial support, as required, to enable the Company to continue its operations
for the foreseeable future.

RESULTS OF OPERATIONS

     Revenues of the Partnership increased by $300,961 for the three months
ended June 30, 2001, from $6,729,484 over the corresponding period in 2000 to
$7,030,445 in 2001. Overall, revenues of the Partnership increased by $193,886
for the six months ended June 30, 2001, from $13,862,799 over the corresponding
period in 2000 to $14,056,685 in 2001. In sterling terms, over the six months to
June 30, revenue increased by 10 per cent, however, this has been virtually
offset by exchange rate movements. The six-month average exchange rate has
declined from $1.5693 in 2000 to $1.4459 in 2001. The South Herts System served
27,097 cable television customers and 33,092 residential telephony lines at June
30, 2001 as compared to 23,300 basic cable television customers and 30,400
residential telephony lines at June 30, 2000. At June 30, 2001, the Company
served 16,303 digital customers which compares to 8,316 digital customers at
June 30, 2000.

     Operating expenses increased $275,896 for the three months ended June 30,
2001, from $2,669,877 over the corresponding period in 2000 to $2,945,773 in
2001. Operating expenses increased by $589,797 for the six months ended June 30,
2001, from $5,520,996 over the corresponding period in 2000 to $6,110,793 in
2001.

     Selling, general and administrative expenses increased $29,643 for the
three months ended June 30, 2001, from $3,426 over the corresponding period in
2000 to $33,069 in 2001. Selling, general and administrative expenses increased
$3,423 for the six months ended June 30, 2001, from $65,140 over the
corresponding period in 2000 to $68,563 in 2001.


                                       7
<PAGE>   8
     Management fees and allocated overhead from the General Partner increased
by $151,235 for the three months ended June 30, 2001, from $3,489,559 over the
corresponding period in 2000 to $3,640,794 in 2001. Management fees and
allocated overhead from the General Partner increased by $809,882 for the six
months ended June 30, 2001, from $6,160,071 over the corresponding period in
2000 to $6,969,953 in 2001. Extra costs have been incurred due to the rollout of
digital services in the South Herts franchise area.

     Depreciation and amortization expense increased $522,516 for the three
months ended June 30, 2001, from $1,232,682 over the corresponding period in
2000 to $1,755,198 in 2001. Depreciation and amortization expense increased
$8,550,369 for the six months ended June 30, 2001, from $2,398,862 over the
corresponding period in 2000 to $10,949,231 in 2001. The significant increase in
depreciation compared to the six months ended June 30, 2000 is due to certain
asset lives being shortened by the Company to bring the estimated useful
economic lives in line with the more prudent policies adopted by NTL.

     Interest expense decreased by $526,445 for the three months ended June 30,
2001, from $822,325 over the corresponding period in 2000 to $295,880 in 2001.
Interest expense decreased by $817,018 for the six months ended June 30, 2001,
from $1,665,584 over the corresponding period in 2000 to $848,566 in 2001. The
decrease is due to the repayment of on the loan on February 21, 2001. It should
be noted that the Company and Partnership are still incurring interest on
deferred charges paid for by the General Partner.

     The net loss increased by $95,709 for the three months ended June 30, 2001,
from a loss of $1,036,855 over the corresponding period in 2000 to a loss of
$1,132,564 in 2001. The net loss increased by $5,960,608 for the six months
ended June 30, 2001, from a loss of $1,036,855 over the corresponding period in
2000 to a loss of $7,339,537 in 2001. The increased net loss over both the three
and six month period to June 30, 2001 compared to 2000 is principally due to the
increased depreciation charge which has resulted from the re-living of the
Company assets. The Company will continue to pursue a strategy of trying to
increase revenue from existing customers and cost reduction by further
integrating the ntl (CWC) Limited Group with the rest of the NTL UK cable
franchise operations.

Item 3  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

     The functional currency of the Company is UK pounds sterling and all
revenue and significantly all costs are incurred in UK pounds sterling. The
South Herts Credit Agreement was repaid in full with interest free funding from
NTL on February 21, 2001 which eliminates all interest rate risk to the Company.


                                       8
<PAGE>   9
                            PART II OTHER INFORMATION


Item 6.  Exhibits and Reports on Form 8-K.

     a)       Exhibits

              None

     b)       Reports on Form 8-K

              None


                                       9



<PAGE>   10

                                   SIGNATURES


              Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.

                                         SOUTH HERTFORDSHIRE UNITED
                                           KINGDOM FUND, LTD.
                                         a Colorado limited partnership
                                         BY:  FAWNSPRING LIMITED
                                                  Its General Partner



                                         BY:   /s/ Robert M. Mackenzie
                                               ___________________________
                                                   Robert M. Mackenzie
                                                   Director
                                                   13 August, 2001.

                                       10