Chas and Dave's ultimate wind up (5)
I believe the answer is:
tease
'wind up' is the definition.
(I've seen this before)
'chas and dave's ultimate' is the wordplay.
'chas' becomes 'teas' (cha can mean tea).
'and' is a charade indicator (letters next to each other).
'ultimate' indicates one should take the final letters.
The final letter of 'dave' is 'e'.
'teas'+'e'='TEASE'
(Other definitions for tease that I've seen before include "Torment for fun" , "Torment, tantalise" , "Annoy good-naturedly" , "Taunt or bait" , "Comb or card (wool)" .)