FARSOUND AVIATION LIMITED

1. FARSOUND AVIATION LIMITED 2013-09-02 → present
2. FARSOUND ENGINEERING LIMITED 1986-06-16 → 2013-09-02
3. RAPID 598 LIMITED 1986-02-17 → 1986-06-16

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

FRS 102

Reporting scope

Consolidated group

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors have prepared a base cash flow forecast for the going concern period to 30 June 2027 and have determined the headroom over the minimum liquidity requirement for the Saturn Sound Midco Group and its subsidiaries to be able to operate for the going concern period and comply with debt covenants. ... For these reasons, the directors continue to adopt a going concern basis for the preparation of the financial statements.”

Group structure

1. FARSOUND AVIATION LIMITED · parent
   1. Saturn Sound Topco Ltd · Holding company
   2. Saturn Sound Midco Ltd · Holding company
   3. Saturn Sound Bidco Ltd · Holding company
   4. Mars Debtco Ltd · Holding company
   5. Mars Midco Ltd · Holding company
   6. Mars Finco Ltd · Holding company
   7. Mars Bidco Ltd · Holding company
   8. Farsound Aviation Ltd 100% · UK · Sale of aviation products (UK)
   9. Farsound Aviation Inc. (formerly Sterling Aircraft Products Inc.) 100% · Canada · Sale of aviation products
   10. Farsound Aviation Inc. 100% · TX · Sale of aviation products
   11. Farsound Aviation Singapore Pte Ltd 100% · Singapore · Administration of Singapore operation
   12. Farsound Aviation Japan GK 100% · Japan · Non trading

Significant events

• “The group achieved sales of $154.3m in 2025, a growth of 26% on 2024, and adjusted EBITDA of $58.7m was $10.8m higher than 2024, up 22%.”
• “Supply chain challenges continued throughout the year. The combination of raw material shortages, new engine build rates increasing, and MRO recovery is causing shortages across the whole industry. This is unlikely to be resolved until well into 2027.”
• “Net cash used in operating activities was $13.4m (2024: net cash used $10.3m) after a $15.7m increase in stock holdings to support business growth.”
• “$0.9m of cash flows were used for investment in capital expenditure.”
• “new customer contract wins in 2019-25, combined with sales to new customers expected to start in 2026 means that the business is in a strong position to grow revenue and EBITDA”
• “Due to the strong growth projections, the US business moved into a new facility in early 2024. This follows a relocation of the Canadian business in 2021, the Spanish operation in 2022 and the UK Headquarters in 2023.”
• “The Group has access to a $50,000,000 revolving credit facility ("RCF") provided by Barclays and HSBC which expires on 3 December 2030. This was drawn by $1,500,000 at 31 December 2025 (31 December 2024: undrawn), due to the company absorbing $21,320,000 sell side deal fees in relation to the acquisition of the Farsound Group by an investment fund structure owned by Onex Corporation.”
• “On 31 March 2026, the Group entered into an agreement to extend its principal term loan facility by an additional $60,000,000, increasing the total facility from $275,000,000 to $335,000,000.”

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

Filings

3

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

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

• Turnover

  +26.1%

  £90,725,723 → £114,414,381

• Cash

  -49.9%

  £14,174,203 → £7,101,557

• Net assets

  +46.7%

  £83,034,099 → £121,819,125

• Employees

  +15.2%

  125 → 144

• Operating profit

  +37.8%

  £30,080,801 → £41,459,600

• Profit before tax

  +43.5%

  £30,604,893 → £43,911,787

• Wages

  +18.9%

  £7,753,892 → £9,218,681

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