Anyone who has walked the ten-minute journey between Angel and King’s Cross will have been past Clockwork, which sits on the corner of Pentonville Road and Amwell Street.

It’s not a place one is likely to ignore, what with its big, red logo, two stories and colourful, upmarket bottles displayed in the window. If you look closely you’ll even find a Banksy. A rat peers at revellers making their way through the entrance from the wall at their feet.

By anyone’s standards, Clockwork is one of London’s most exciting emerging small venues. Not a household name yet, nor a renowned fixture on the live circuit, but the Islington bar has been quietly forging an excellent name for itself among both punters and promoters alike. Largely responsible for ensuring the place is hipster-station-central is Lucia Burghi, one of the Clockwork directors. She is keen to clear up one thing about the venue’s front exterior, which thanks to the liquor bottles in the window and general stylishness, gives the impression Clockwork is an upmarket joint.

“A lot of people have thought we were a bit expensive because of all the bottles in the windows,” she says, “but we’re one of the cheapest bars around.” Testament to that fact is a slew of happy hour deals about which Burghi waxes lyrical.

There are two levels to Clockwork. Upstairs is where the majority of live bands play, with downstairs reserved for DJ nights and mellow lounge drinking on the few nights there is nothing happening. This is rare though, thanks to, as mentioned, the burgeoning popularity of Clockwork among those with their ear to the ground. “We’ve been in Time Out, The Sun, and now we’re getting a lot of phone calls, and we have to turn down some quality promoters because we simply haven’t got any dates,” says Burghi.

At the moment the venue’s programme is split between indie rock nights and a faithful devotion to drum and bass, dance and house that dominates the place on Friday and Saturday nights – indeed Goldie has a regular slot at the turntables . Other esteemed names to spin the discs include members of Asian Dub Foundation and Maxi Jazz. Furthermore, Hostel, a newly launched bi-monthly drum and bass night is now in full swing.

Upstairs it’s a bit different. “You wouldn’t believe the character it has,” says Burghi, “it’s black, it’s dark, it’s a real contrast to downstairs.” One of the main band nights is Chance, organised by the Clockwork itself, which takes place on every second Thursday of the month, and has the policy of diversity and youth. Alumni include The Wireless, still known to grace the venue, while The Horrors also once trod the dingy boards upstairs too. Stalwart London promoters Marmalade also have a night at Clockwork with their rich combination of bands and DJs. Recent Marmalade performers have been members of both Sham 69 and Towers of London, so eyes peeled for the next instalment.

Like most London venues, Clockwork has an interesting back-story. According to Burghi, the bar was the last drinking hole before the condemned were escorted to the Pentonville gallows back in the days they did such things, so many a wretched soul had his/her last tipple inside the Clockwork’s walls. Equally impressive is the fact bare-knuckle fighting went on here early in the 20th century, with yet another claim to fame being that Eric Bristow used to come down here to play darts.

That was in the days before it went under the name of Clockwork, where the events and crowds are now a bit different - Damien Marley has held a birthday party here and there is also, intriguingly, a big screen for showing films. It is very possible to look through the window of an evening to find the Jets rumbling with the Sharks in Technicolor.

Nights coming up at Clockwork include the first night of Hostel (7 February), Metalheadz Sunday Session featuring Goldie (10 February) and indie night Dirty Bingo (15 February 2008).