PORTOBELLO STARBOARD LIMITED

• ⚠

  Material uncertainty over going concern

  The financial statements have been prepared on a going concern basis. The group has made a loss of £16,460,929 (2023:£3,554,703 loss) and has net current liabilities at the balance sheet date of £29,371,339 (2023:£14,479,944) of which £23,021,536 are loans owed to shareholders (2023:£13,104,367) and therefore it is reliant on the continued support of the shareholders.

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

IFRS

Reporting scope

Consolidated group

Auditor

Sumer Auditco Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The financial statements have been prepared on a going concern basis. The group has made a loss of £16,460,929 (2023:£3,554,703 loss) and has net current liabilities at the balance sheet date of £29,371,339 (2023:£14,479,944) of which £23,021,536 are loans owed to shareholders (2023:£13,104,367) and therefore it is reliant on the continued support of the shareholders.”

Group structure

1. PORTOBELLO STARBOARD LIMITED · parent
   1. Darwin & Wallace Limited 100% · UK · Operator of bar-restaurants
   2. Portobello Pub Company Limited 100% · UK

Significant events

• “In April 2024 it acquired Darwin and Wallace Limited which operates bar-restaurants within Greater London.”
• “Portobello was started in 2021 and acquired its first 12 sites in November 2021 with further sites following six sites in 2022, two in 2023 and in 2024 it purchased Asparagus in Clapham.”
• “Following the acquisitions the company has invested in £6.7m in capital improvements in addition to new acquisitions.”
• “The NMW increase, averaging 13% from April 2025, along with the National Insurance changes, will continue to put pressure on staffing costs, but the Group has focused on efficiencies in order to mitigate some of these costs, alongside an emphasis on staff retention.”
• “The Group disposed of Travellers Friend on 30 September 2024. Other disposals after year-end included Inn on the Beach (4 March 2025), No 17 Dickens Yard (12 March 2025), Westow Tap (10 April 2025), No. 29 Battersea Power Station (9 May 2025).”

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

Filings

10

last 12 months

Capital events

1

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

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

• Turnover

  +59.4%

  £18,177,490 → £28,968,203

• Cash

  -44.5%

  £2,709,699 → £1,503,453

• Net assets

  -134.4%

  £12,245,672 → -£4,215,257

• Employees

  +78.6%

  378 → 675

• Operating profit

  +146.4%

  -£631,132 → £292,790

• Profit before tax

  -363.1%

  -£3,554,703 → -£16,460,929

• Wages

  +51.4%

  £6,795,805 → £10,292,059

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