ISABELA TOPCO LIMITED
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Cash
£17m
+25.5% highest in 3 filed years
Net assets
-£29m
-72.5% lowest in 3 filed years
Employees
5,210
-14.4% vs 2024
Profit before tax
-£16m
-303.2% lowest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Negative shareholders' funds
Net assets
3-year trend · vs Industrials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-10-26
| Metric | Trend | 2023-10-29 | 2024-10-27 | 2025-10-26 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £223,189,000 | £316,695,000 | £294,761,000 | -6.9% | |
| Operating profit | -£4,483,000 | -£879,000 | -£11,592,000 | -1,218.8% | |
| Profit before tax | -£7,878,000 | -£3,848,000 | -£15,514,000 | -303.2% | |
| Net profit | -£5,509,000 | -£1,190,000 | -£12,061,000 | -913.5% | |
| Cash | £8,127,000 | £13,360,000 | £16,770,000 | +25.5% | |
| Total assets less current liabilities | £30,228,000 | £25,633,000 | £16,064,000 | -37.3% | |
| Net assets | -£15,591,000 | -£16,842,000 | -£29,056,000 | -72.5% | |
| Equity | -£15,591,000 | -£16,842,000 | -£29,056,000 | -72.5% | |
| Average employees | 4,507 | 6,087 | 5,210 | -14.4% | |
| Wages | £77,028,000 | £111,199,000 | £102,640,000 | -7.7% | |
| Directors' remuneration | £859,000 | £1,419,000 | £1,045,000 | -26.4% |
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 | 2023-10-29 | 2024-10-27 | 2025-10-26 |
|---|---|---|---|---|
| Operating margin | -2.0% | -0.3% | -3.9% | |
| Net margin | -2.5% | -0.4% | -4.1% | |
| Return on capital employed | -14.8% | -3.4% | -72.2% | |
| Gearing (liabilities / total assets) | — | 123.5% | 143.7% | |
| Current ratio | 0.57x | 0.62x | 0.61x | |
| Interest cover | -1.27x | -0.26x | -2.88x |
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
- ISABELA TOPCO LIMITED 2020-07-24 → present
- MACSCO 20.8 LIMITED 2020-05-29 → 2020-07-24
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- RSM UK Audit LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“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
- “Included in other creditors is a contingent consideration of £546k (2024: £1,681k) in respect of acquisition of Banana Tree Restaurants Limited during the 2022 period. This was paid on the 17 December 2025.”
- “On 28 November 2024, the company bought back and cancelled 3,750 "C" Ordinary shares of £1 each for a total consideration of £153k, with the excess over the nominal value being funded from the share premium reserve.”
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 68 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 | |
|---|---|---|---|---|
| 2026-08-03 | SH06 | capital | Capital cancellation shares | |
| 2026-08-03 | SH03 | capital | Capital return purchase own shares | |
| 2026-07-25 | AA | accounts | Accounts with accounts type group | |
| 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 |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- Capital events
- 4
- 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.