WATES CONSTRUCTION LIMITED
Operating as a subsidiary of the family-owned Wates Group, the company provides commercial building and contracting services across the United Kingdom.
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Cash
£142m
+11.5% highest in 3 filed years
Net assets
£66m
+54.7% highest in 3 filed years
Employees
5,754
+21.6% highest in 3 filed years
Profit before tax
£35m
+2,607.7% highest in 3 filed years
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 | £2,027,962,000 | £2,244,400,000 | £2,401,800,000 | +7% | |
| Operating profit | £6,037,000 | -£4,900,000 | £26,100,000 | +632.7% | |
| Profit before tax | £17,183,000 | £1,300,000 | £35,200,000 | +2,607.7% | |
| Net profit | £10,208,000 | -£2,500,000 | £23,100,000 | +1,024% | |
| Cash | £104,671,000 | £127,700,000 | £142,400,000 | +11.5% | |
| Total assets less current liabilities | £143,871,000 | £131,100,000 | £166,900,000 | +27.3% | |
| Net assets | £52,015,000 | £42,600,000 | £65,900,000 | +54.7% | |
| Equity | £52,015,000 | £42,600,000 | £65,900,000 | +54.7% | |
| Average employees | 3,907 | 4,732 | 5,754 | +21.6% | |
| Wages | £244,552,000 | £284,100,000 | £339,800,000 | +19.6% | |
| Directors' remuneration | £4,489,000 | £3,000,000 | £2,400,000 | -20% | |
| Directors' pension contributions | £70,000 | £100,000 | £100,000 | 0% | |
| Highest paid director | £925,000 | £500,000 | £400,000 | -20% |
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 | 0.3% | -0.2% | 1.1% | |
| Net margin | 0.5% | -0.1% | 1.0% | |
| Return on capital employed | 4.2% | -3.7% | 15.6% | |
| Gearing (liabilities / total assets) | 93.1% | 95.4% | 92.7% | |
| Current ratio | 1.12x | 1.03x | 1.09x | |
| Interest cover | 4.99x | -7.00x | 10.04x |
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 1 time since incorporation
- WATES CONSTRUCTION LIMITED 1986-02-28 → present
- ZOOMVIEW LIMITED 1986-01-15 → 1986-02-28
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- BDO LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The directors have reviewed the forecast for the future performance of the Wates Group and have prepared a cash flow forecast for 12 months from the date of approval of these financial statements. The Wates Group Board considers it 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 annual report and financial statements, 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 annual report and financial statements.”
Group structure
- WATES CONSTRUCTION LIMITED · parent
- Wates Construction International LLC 49%
- Wates Construction Services Limited 100%
- Wates Financial Services Limited 100%
- Wates Fit Out Ltd 100%
- Wates Group Properties Limited 100%
- Wates Homes (Cambridge) Limited 100%
- Wates Interiors Limited 100%
- Wates Property Services Limited 100%
- Wates Property Services Holdings Limited 100%
- Wates Maintenance Services Limited 100%
- Wates PFI Investments (Projects) Limited 100%
- Wates PFI Investments (QED) Limited 100%
- Wates PFI Investments Limited 100%
- Wates Regeneration (Coventry) Limited 100%
- Wates Regeneration (South Acton) Limited 100%
- Wates Regeneration (Tavy Bridge) Limited 100%
- Wates Surrey One Ltd 100%
- Wates Surrey Two Ltd 100%
- Booth Mechanical Services Ltd 100%
- Booth Securities Ltd 100%
- City West Works Ltd 100%
- G Purchase Construction Limited 100%
- GW 217 Limited 100%
- Liberate Energy Ltd 100%
- Liberty Gas Group Ltd 100%
- Liberty Group Investments Ltd 100%
- Liberty R and M Ltd 100%
- NetZero Collective Ltd 100%
- Purchase Group Limited 100%
- Purchase Home Improvements Limited 100%
- Purchase Homes Limited 100%
- Purchase Support Limited 100%
- Relocation and Inventory Services Limited 100%
- SES (Engineering Services) Limited 100%
- SES (Engineering Services Holdings) Limited 100%
- Third Wates Investments Limited 100%
- Woodside Lands Limited 100%
Significant events
- “In addition to net cash of £248m at 31 December 2025, the Wates Group refinanced and increased its revolving credit facility with two three-year facilities.”
- “Group turnover increased by 6.9% or £155m, with all operating segments showing growth apart from Construction.”
- “The Group reported a statutory operating profit of £25.1m (2024: loss of £8.5m), as the Group has sought to take advantage of opportunities in areas such as social housing and advanced manufacturing, while navigating the challenges faced by businesses operating in the UK built environment, such as a slow housing market and historically high borrowing costs.”
- “The Group participated in the Wates Pension Fund, a defined benefit scheme operated by fellow subsidiary, Wates Group Services Limited... The scheme ceased to have active members as at 1 October 2024. The pension fund was transferred to Clara Pensions on 14 January 2025.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
8 active · 51 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| WAINWRIGHT, Philip Michael | Secretary | 2018-12-03 | — | — |
| BATTLE, Steffan | Director | 2024-05-01 | Jun 1972 | British |
| FITZGERALD, Patrick Joseph | Director | 2025-09-01 | Nov 1976 | British |
| GRIFFIN, Paul | Director | 2023-05-24 | Feb 1985 | Irish |
| JONES, Nicholas Thomas Drucquer | Director | 2025-08-27 | Aug 1972 | British |
| SYMEONIDES, Christopher John | Director | 2025-02-03 | Jul 1964 | British |
| TATE, Emily Margaret Alice | Director | 2023-05-24 | Aug 1985 | British |
| WAINWRIGHT, Philip Michael | Director | 2018-12-03 | Apr 1965 | British |
Show 51 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| ALLEN, David Owen | Secretary | 2016-01-04 | 2018-12-03 |
| DAVIES, David Huw | Secretary | 2007-12-31 | 2016-01-04 |
| 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 |
| 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 |
| BAKER, Kenneth George | Director | 1999-07-05 | 2006-12-12 |
| BEECHEY, Stephen James | Director | 2016-10-17 | 2026-03-31 |
| BENNION, Rodney John | Director | — | 2003-06-30 |
| BUNCH, Helen Patricia | Director | 2010-04-01 | 2025-04-30 |
| BURNETT, Ian George | Director | 2008-01-31 | 2012-12-31 |
| CHANDLER, Paul | Director | 2017-08-24 | 2024-12-31 |
| DAVIES, Andrew Oswell Bede | Director | 2014-01-06 | 2017-11-10 |
| DAVIES, David Huw | Director | 2005-02-01 | 2016-01-04 |
| DRECHSLER, Paul Joseph | Director | 2004-09-06 | 2014-01-06 |
| EDWARDS, John | Director | 1992-12-31 | 1999-09-30 |
| GIRDLESTONE, Richard John | Director | 2000-01-01 | 2010-03-31 |
| HOBART, Andrew Hampden | Director | 2013-01-01 | 2015-12-31 |
| HOULTON, Jonathan Charles Bennett | Director | 1998-06-01 | 2005-02-01 |
| HOWELL, John Peter | Director | 2013-09-30 | 2016-06-30 |
| LAIRD, Andrew | Director | 2006-06-01 | 2012-06-14 |
| LEAROYD, Brian | Director | — | 1994-10-12 |
| LEITCH, Robert Michael | Director | 1992-12-31 | 1997-05-30 |
| LORD, Philip Smith | Director | — | 1995-06-30 |
| LOVELL, Robin | Director | — | 1992-12-31 |
| MACKIE, William Graham | Director | 1993-11-01 | 2000-06-30 |
| MORGAN, David Keir Ewart | Director | 2017-11-10 | 2025-02-03 |
| PEAT, Martin John | Director | 1992-12-31 | 1996-06-19 |
| PETERS, Anthony Geoffrey | Director | — | 1997-12-31 |
| PHIPPS, Paul David | Director | 2003-06-30 | 2005-12-31 |
| POTTER, Simon James | Director | 2018-07-26 | 2025-03-31 |
| PRICE, Stephen Robert | Director | 2008-01-24 | 2010-12-31 |
| ROBERTSON, Dave Duncan Struan | Director | 2000-10-02 | 2004-01-16 |
| ROWAN, Paul Campbell | Director | 2015-12-31 | 2025-07-31 |
| ROWSELL, John Frederick | Director | 2005-01-24 | 2006-06-01 |
| ROWSELL, John Frederick | Director | 1994-02-28 | 2001-10-24 |
| SHEPHERD, Martyn Alan | Director | 2001-10-25 | 2004-11-08 |
| SMITH, David Gordon, Mr. | Director | 2001-10-25 | 2016-10-17 |
| STEWART, Roderick Alistair | Director | 2011-01-01 | 2012-10-26 |
| TIDD, Martin John Edward | Director | 2001-10-25 | 2004-11-08 |
| TOGWELL, Stuart John | Director | 2011-09-22 | 2018-07-25 |
| TYSON, Julia Kathryn | Director | 2006-12-12 | 2013-09-30 |
| WATES, Andrew Trace Allan | Director | 2004-01-16 | 2004-09-06 |
| WATES, Andrew Trace Allan | Director | 1995-02-09 | 2000-10-02 |
| WATES, Christopher Stephen, Sir | Director | — | 2000-10-02 |
| WATES, James Garwood Michael | Director | 1994-10-20 | 2001-09-30 |
| WHITTLE, Peter Edward | Director | 2012-06-14 | 2013-12-31 |
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 | 2016-04-06 | Active |
Filing timeline
Last 20 of 273 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-14 | AA | accounts | Accounts with accounts type group | |
| 2026-07-01 | AP01 | officers | Appoint person director company with name date | |
| 2026-06-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-04-10 | TM01 | officers | Termination director company with name termination date | |
| 2025-09-01 | AP01 | officers | Appoint person director company with name date | |
| 2025-08-27 | AP01 | officers | Appoint person director company with name date | |
| 2025-07-31 | TM01 | officers | Termination director company with name termination date | |
| 2025-06-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-04-30 | TM01 | officers | Termination director company with name termination date | |
| 2025-04-17 | AA | accounts | Accounts with accounts type group | |
| 2025-03-31 | TM01 | officers | Termination director company with name termination date | |
| 2025-02-06 | TM01 | officers | Termination director company with name termination date | |
| 2025-02-05 | AP01 | officers | Appoint person director company with name date | |
| 2024-12-31 | TM01 | officers | Termination director company with name termination date | |
| 2024-11-28 | CH01 | officers | Change person director company with change date | |
| 2024-06-10 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-05-03 | AP01 | officers | Appoint person director company with name date | |
| 2024-04-13 | AA | accounts | Accounts with accounts type group | |
| 2023-06-16 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-06-15 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 1
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.