WATES DEVELOPMENTS LIMITED
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Cash
£1.5m
-0.3% vs 2024
Net assets
£26m
-5.1% lowest in 3 filed years
Employees
51
+10.9% highest in 3 filed years
Profit before tax
-£1.8m
+6.5% vs 2024
Net assets
3-year trend · vs Industrials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £69,192,000 | £13,911,000 | £17,009,000 | +22.3% | |
| Operating profit | £18,892,000 | -£5,197,000 | -£2,445,000 | +53% | |
| Profit before tax | £20,034,000 | -£1,943,000 | -£1,817,000 | +6.5% | |
| Net profit | £17,682,000 | -£1,575,000 | -£1,406,000 | +10.7% | |
| Cash | £1,402,000 | £1,531,000 | £1,526,000 | -0.3% | |
| Total assets less current liabilities | £43,350,000 | £27,629,000 | £26,223,000 | -5.1% | |
| Net assets | £43,350,000 | £27,629,000 | £26,223,000 | -5.1% | |
| Equity | £43,350,000 | £27,629,000 | £26,223,000 | -5.1% | |
| Average employees | 45 | 46 | 51 | +10.9% | |
| Wages | £5,133,000 | £3,284,000 | £4,678,000 | +42.4% | |
| Directors' remuneration | £758,000 | £778,000 | £1,049,000 | +34.8% | |
| Directors' pension contributions | £47,000 | £59,000 | £78,000 | +32.2% | |
| Highest paid director | £387,000 | £392,000 | £403,000 | +2.8% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | 27.3% | -37.4% | -14.4% | |
| Net margin | 25.6% | -11.3% | -8.3% | |
| Return on capital employed | 43.6% | -18.8% | -9.3% | |
| Gearing (liabilities / total assets) | 64.0% | 72.1% | 62.3% | |
| Current ratio | 1.22x | 1.13x | 1.43x | |
| Interest cover | 6.00x | -1.22x | -0.85x |
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.
Name history
Renamed 2 times since incorporation
- WATES DEVELOPMENTS LIMITED 2007-10-30 → present
- WATES HOMES LIMITED 2000-03-02 → 2007-10-30
- WATES BUILT HOMES LIMITED 1947-08-30 → 2000-03-02
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- BDO LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The directors have reviewed the forecast future performance of the Wates Group and the company and have prepared a cash flow forecast for 12 months from the date of approval of these financial statements. The directors consider that the Wates Group has sufficient cash reserves to continue trading, whilst meeting the financial covenants set within its banking facilities. The directors have received a letter of support from Wates Group Limited confirming that, as at the date of signing the accounts, it is their intent that it will continue to provide sufficient operational and financial support to the company, to the extent that it is required to enable the company to meet its liabilities as and when they fall due for a period of at least 12 months from the date of approval of the financial statements. Accordingly, the directors continue to adopt the going concern basis in preparing the company's accounts.”
Group structure
- WATES DEVELOPMENTS LIMITED · parent
- Brooks and Rivers Limited 100%
- Danesdale (Pebble Drive) Limited 100%
- Wates Amenity Lands Limited 100%
- Wates Built Homes Limited 100%
- Wates Built Homes (Blakes) Limited 100%
- Wates Built Homes (London) Limited 100%
- Wates Built Homes (Retirement) Limited 100%
- Wates Built Homes (Southern) Limited 100%
- Wates (Crowborough) Limited 100%
- Wates Homes (Bracknell) Limited 100%
- Wates Homes (Chichester) Limited 100%
- Wates Homes Limited 100%
- Wates Homes (Oakley) Limited 100%
- Wates Homes (Wallingford) Limited 100%
- Wates Homes (Warsash) Limited 100%
- Wates Second Land Limited 100%
- Wates (WR) Limited 100%
- Woodside Lands Estates Limited 100%
- Woodside Lands Management Limited 100%
Significant events
- “On 27 July 2025, Wates Developments Limited transferred its interest in Vistry Wates (Walshes) LLP to Wates Group Limited at cost.”
- “On 12 June 2025, Wates Developments Ltd entered into a contract with Miller Wates (Farnham) LLP, a joint venture in which the company holds a 50% interest, to receive a fee of £6,450,000 in respect of the abandonment of an option agreement for land in Farnham. As at 31 December 2025, £2,875,000 remained outstanding.”
- “On 12 June 2025, Wates Developments Ltd entered into an agreement with Miller Homes Ltd, the joint venture partner of Miller Wates (Farnham) LLP, to procure an alternative biodiversity net gain ("BNG") solution for land in Farnham. On securing an alternative solution, the company earned a fee of £486,000 plus a cost recovery of £196,000 in respect of savings achieved versus the cost of the original BNG solution.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 35 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BOWEN, David Alexander | Director | 2015-10-22 | Nov 1967 | British |
| BROCKLEBANK, David Michael | Director | 2002-02-11 | Feb 1970 | British |
| FLINT, Natalie Jane | Director | 2019-11-15 | Jan 1969 | British |
| LAUGHARNE, Nicholas James | Director | 2025-04-08 | Sep 1983 | British |
| WAINWRIGHT, Philip Michael | Director | 2022-12-12 | Apr 1965 | British |
Show 35 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BOWEN, David Alexander | Secretary | 2015-10-22 | 2018-12-03 |
| DAVIES, David Huw | Secretary | 2007-12-31 | 2008-11-24 |
| DAVIES, David Huw | Secretary | 2005-02-01 | 2006-05-30 |
| GAME, Ashley | Secretary | 2000-10-02 | 2002-04-30 |
| HOULTON, Jonathan Charles Bennett | Secretary | 2002-04-30 | 2005-02-01 |
| HOULTON, Jonathan Charles Bennett | Secretary | 2000-06-30 | 2000-10-02 |
| JARRETT, John Michael | Secretary | 2008-11-24 | 2015-10-22 |
| MACKIE, William Graham | Secretary | 1994-04-29 | 2000-06-30 |
| SAREEN, Narinder Singh | Secretary | — | 1994-04-29 |
| STYANT, Terry Ann | Secretary | 2006-05-30 | 2007-12-31 |
| ALLEN, David Owen | Director | 2016-01-04 | 2022-08-16 |
| ANDREWS, Timothy William | Director | 2003-08-01 | 2005-12-31 |
| ASHTON, Judith Caroline | Director | 2005-01-04 | 2006-03-24 |
| COSH, Alan Peter | Director | — | 2004-09-03 |
| DAVEY, Martin Gerald | Director | 1998-01-01 | 1999-07-26 |
| DAVIES, David Huw | Director | 2005-02-01 | 2016-01-04 |
| DEARMER, Neil Andrew | Director | 2001-01-02 | 2004-01-05 |
| HEWITT, Cara Louise | Director | 2005-12-31 | 2007-10-01 |
| HOULTON, Jonathan Charles Bennett | Director | 1998-06-01 | 2005-02-01 |
| HUDSON, Yvonne | Director | — | 1995-09-08 |
| HUTCHINSON, Colin William | Director | 1998-04-06 | 1998-11-04 |
| JARRETT, John Michael | Director | 2007-10-01 | 2015-10-22 |
| LEACH, Martin Geoffrey | Director | 2013-11-01 | 2019-11-15 |
| LORD, Philip Smith | Director | — | 1995-06-30 |
| PHIPPS, Paul David | Director | 2001-12-12 | 2005-12-31 |
| PLUMMER, Michael Charles | Director | 1999-03-19 | 2000-07-11 |
| ROBERTSON, Dave Duncan Struan | Director | 2000-10-02 | 2004-01-16 |
| SPENCER, Jonathan Peter | Director | 1994-04-11 | 1998-08-07 |
| TULLAH, Neville | Director | 2000-10-02 | 2001-12-12 |
| WARREN, Reginald James | Director | — | 1994-08-31 |
| WATES, Andrew Trace Allan | Director | 2004-01-16 | 2006-09-01 |
| WATES, Christopher Stephen, Sir | Director | — | 2000-10-02 |
| WATES, Jonathan Giles Macartney | Director | 1998-01-01 | 2006-11-30 |
| WATES, Paul Christopher Ronald | Director | — | 2001-09-30 |
| WATES, Timothy Andrew De Burgh | Director | 2005-01-10 | 2023-06-20 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Wates Group Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors, Significant influence | 2016-04-06 | Active |
Filing timeline
Last 20 of 472 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-10 | AA | accounts | Accounts with accounts type full | |
| 2025-09-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-04-17 | AA | accounts | Accounts with accounts type full | |
| 2025-04-08 | AP01 | officers | Appoint person director company with name date | |
| 2024-10-16 | RP04CS01 | confirmation-statement | Second filing of confirmation statement with made up date | |
| 2024-09-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-04-13 | AA | accounts | Accounts with accounts type full | |
| 2023-09-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-07-01 | TM01 | officers | Termination director company with name termination date | |
| 2023-04-06 | AA | accounts | Accounts with accounts type full | |
| 2022-12-20 | AP01 | officers | Appoint person director company with name date | |
| 2022-10-03 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2022-09-12 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-08-19 | TM01 | officers | Termination director company with name termination date | |
| 2022-03-28 | AA | accounts | Accounts with accounts type full | |
| 2021-09-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-04-02 | AA | accounts | Accounts with accounts type full | |
| 2020-10-15 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2020-10-15 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2020-10-15 | MR04 | mortgage | Mortgage satisfy charge full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 1
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.