WATES RESIDENTIAL CONSTRUCTION LIMITED

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

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.

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.”

Significant events

• “During 2024 the company worked on strategically important sites in Brent, Wokingham and Poole. Delivering 16 affordable homes in the year, the company has a pipeline of 499 homes across three active sites. As part of a streamlining process within the Wates Group, the company is looking to significantly grow in 2025, with the planned novation of several contracts from Wates Construction Limited.”

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

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

0

last 12 months

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

• Turnover

  +875.2%

  £3,330,000 → £32,474,000

• Cash

  +193.8%

  £549,000 → £1,613,000

• Net assets

  +1,400.5%

  £198,000 → £2,971,000

• Employees

  +366.7%

  3 → 14

• Operating profit

  +1,179.1%

  £196,000 → £2,507,000

• Profit before tax

  +1,300.5%

  £198,000 → £2,773,000

• Wages

  +1,001%

  £200,000 → £2,202,000

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