Peppermint Technology has filed its accounts for the trading year to 30th June 2014. These are abbreviated and unaudited accounts (as per section 477 of the Companies Act 2006) and were filed at Companies House on 19 March 2015.
Headline figures include the company’s debtors have increased from £365,278 to £1,777,379 in the past 12 months – because a full breakdown is not available in abbreviated accounts, there is no detail here but typically this figure will relate to customers (such as law firms) who have been invoiced by Peppermint but have not yet paid their bills. The company’s primary creditor is its parent company OLM Group Limited, the accounts noting that “The amount in other creditors due after one year relates to loans totalling £4,271,000 (2013 – £3,313,000) held with OLM Group Limited and the companies it controls, which bear interest at 3% above base rate. The amounts are insecure and have no fixed repayment date.”
COMMENT: Peppermint director and co-founder Arlene Adams has always said the company’s accounts are exactly what you would expect to see in a software start-up company. And in case you were wondering how long you can be a start-up, last month a senior director at Amazon described the company as “a 20-year-old start-up” !
See attached accounts here Peppermint Accounts June 2014