ISABELA TOPCO LIMITED
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Next accounts due
2026-07-31 (in 2mo)
Last filed for 2024-10-27
Confirmation statement due
2027-05-21 (in 1y)
Last made up 2026-05-07
Watchouts
None on the register
Cash
£13M
+64.4% vs 2023
Net assets
-£17M
-8% vs 2023
Employees
6,087
+35.1% vs 2023
Profit before tax
-£4M
+51.2% vs 2023
Name history
Renamed 1 time since incorporation
- ISABELA TOPCO LIMITED 2020-07-24 → present
- MACSCO 20.8 LIMITED 2020-05-29 → 2020-07-24
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · latest reflected 2024-10-27
| Metric | Trend | 2023-10-29 | 2024-10-27 |
|---|---|---|---|
| Turnover | £223,189,000 | £316,695,000 | |
| Operating profit | -£4,483,000 | -£879,000 | |
| Profit before tax | -£7,878,000 | -£3,848,000 | |
| Net profit | -£5,509,000 | -£1,190,000 | |
| Cash | £8,127,000 | £13,360,000 | |
| Total assets less current liabilities | £30,228,000 | £25,633,000 | |
| Net assets | -£15,591,000 | -£16,842,000 | |
| Equity | -£15,591,000 | -£16,842,000 | |
| Average employees | 4,507 | 6,087 | |
| Wages | £77,028,000 | £111,199,000 |
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-10-29 | 2024-10-27 |
|---|---|---|---|
| Operating margin | -2.0% | -0.3% | |
| Net margin | -2.5% | -0.4% | |
| Return on capital employed | -14.8% | -3.4% | |
| Current ratio | 0.57x | 0.62x | |
| Interest cover | -1.27x | -0.26x |
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.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- RSM UK Audit LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Given the group's cash reserves, and the absence of bank debt, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the next 12 months from the date of approval of these accounts. The directors therefore continue to adopt the going concern basis of accounting in preparing the financial.statements.. The directors have a reasonable expectation that the company and group has adequate resources to continue in operational existence for the foreseeable future. Thus, they have adopted the going concern basis of accounting in preparing the annual financial statements.”
Group structure
- ISABELA TOPCO LIMITED · parent
- Floreana Midco Limited 100%
- Santiago Midco Limited 100%
- Santa Cruz Midco Limited 100%
- The Big Table Group Limited 100%
- Pinta Brands Limited 100%
- Bella Group Holdings Limited 100%
- Bella London Holdings Limited 100%
- Iguanas Holdings Limited 100%
- Rouge Group Holdings Limited 100%
- BTG Licence Co Limited 100%
- Banana Tree Restaurants Limited 100%
- Baltra Bidco Limited 100%
- BTG Leisure Holdings Limited 100%
Significant events
- “On 30 October 2023, the group (via Baltra Bidco Limited) acquired the shares of The Restaurant Group (UK) Limited ("TRGUK") from The Restaurant Group PLC ("TRGPLC"). TRGPLC was seeking to exit its non-core brands, and we were keen to acquire the portfolio given value growth opportunities. On 1 November 2023 the name of TRGUK was changed to BTG Leisure Holdings Limited ("BTG Leisure"). The acquisition included 75 sites with brands that include Frankie & Benny's and Chiquito. The consideration was £1, with deal mechanics that included a £7.5m cash injection by TRGPLC into BTG Leisure.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 4 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MORGAN, Alan | Director | 2021-04-29 | Jul 1977 | British |
| TYE, Michael Edward | Director | 2020-09-10 | Dec 1953 | British |
| WALKER, Adrian Rowland | Director | 2020-07-23 | Feb 1969 | British |
| WILBY, Alexander David | Director | 2022-11-23 | Jan 1990 | British |
| WOOD, Ian David Hatfield | Director | 2024-07-02 | Mar 1979 | British |
Show 4 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| ALLY, Bibi Rahima | Director | 2020-05-29 | 2020-07-24 |
| FORTESCUE, Alexander Jan | Director | 2020-07-23 | 2024-07-01 |
| SPRAGG, James Forrester | Director | 2020-07-23 | 2021-03-22 |
| WOOD, Ian David Hadfield | Director | 2020-07-23 | 2022-11-23 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Ms Bibi Rahima Ally | Individual | Shares 75–100%, Voting 75–100%, Appoints directors | 2020-05-29 | Ceased 2020-07-24 |
Filing timeline
Last 20 of 65 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-08-14 RESOLUTIONS Resolution
- 2024-08-14 MA Memorandum articles
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-06-24 | AA | accounts | Accounts with accounts type group | |
| 2025-06-12 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-01-06 | SH03 | capital | Capital return purchase own shares | |
| 2024-12-30 | SH06 | capital | Capital cancellation shares | |
| 2024-08-14 | RESOLUTIONS | resolution | Resolution | |
| 2024-08-14 | MA | incorporation | Memorandum articles | |
| 2024-07-02 | AP01 | officers | Appoint person director company with name date | |
| 2024-07-02 | TM01 | officers | Termination director company with name termination date | |
| 2024-06-06 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-05-16 | AA | accounts | Accounts with accounts type group | |
| 2024-04-09 | SH06 | capital | Capital cancellation shares | |
| 2024-04-09 | SH06 | capital | Capital cancellation shares | |
| 2024-04-09 | SH03 | capital | Capital return purchase own shares | |
| 2024-03-01 | SH06 | capital | Capital cancellation shares | |
| 2024-03-01 | SH03 | capital | Capital return purchase own shares | |
| 2023-07-11 | AA | accounts | Accounts with accounts type group | |
| 2023-06-14 | SH03 | capital | Capital return purchase own shares | |
| 2023-06-14 | SH03 | capital | Capital return purchase own shares | |
| 2023-06-08 | CS01 | confirmation-statement | Confirmation statement with updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- Capital events
- 2
- 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.
Year-on-year
FY2023 → FY2024 · period ending 2024-10-27 vs 2023-10-29
-
Turnover
+41.9%
£223,189,000 £316,695,000
-
Cash
+64.4%
£8,127,000 £13,360,000
-
Net assets
-8%
-£15,591,000 -£16,842,000
-
Employees
+35.1%
4,507 6,087
-
Operating profit
+80.4%
-£4,483,000 -£879,000
-
Profit before tax
+51.2%
-£7,878,000 -£3,848,000
-
Wages
+44.4%
£77,028,000 £111,199,000
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