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LLP Accounts
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Travers accounts reveal 40% cash drop-off amid corporate slowdown
By Claire Ruckin | April 9, 2010
Travers Smith saw cash reserves drop by more than 40% during the last financial year, according to the firm's first limited liability partnership (LLP) accounts. During 2008-09 the UK top 50 firm saw cash at the bank and in hand drop to £9.6m, down from £16.3m in the previous financial year. Operating profits fell by 44% to £21.3m, while overall profit for the financial year stood at £22.2m.
1 minute read
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Charles Russell accounts reveal £14m cost of London office move
By Claire Ruckin | March 1, 2010
Charles Russell spent £14m on its new City office during the last financial year, with the firm taking out an £11m bank loan to help finance the move. The investment is detailed within the firm's 2008-09 limited liability partnership (LLP) accounts, recently filed with Companies House.
1 minute read
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Freshfields LLPs show £3.3m partner payout
By Legal Week | February 2, 2010
Freshfields Bruckhaus Deringer's top-earning partner made more than £3m last year, despite the firm seeing a slight dip in profits per equity partner (PEP). The firm's first limited liability partnership (LLP) filings with Companies House show the highest-paid member took home £3.3m in the 2008-09 financial year, compared with £2.7m the previous year.
1 minute read
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Lovells LLP accounts show European offices outperforming UK base
By Jeremy Hodges | January 26, 2010
Lovells' Continental Europe practice outperformed the firm's London base for the first time last year, the firm's limited liability partnership accounts have revealed. The firm's annual report, published today (26 January) shows that Lovells' continental Europe offices accounted for 43% of the firm's total billings of £227.5m during 2008-09, ahead of London, which contributed £225m.
1 minute read
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Dechert LLPs highlight 2008 UK revenue drop-off as international offices hold steady
By Emma Sadowski | January 22, 2010
Dechert's LLP accounts have revealed that the firm's UK office saw a £9m drop in fee income during 2008, against a slight increase in turnover for its international network. Over the year the international firm's London base brought in £21.1m in fee income, a decrease on the office's 2007 performance of £30.5m.
1 minute read
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Addleshaws LLP accounts reveal £20.9m costs of new London base
By Claire Ruckin | January 13, 2010
Addleshaw Goddard spent £20.9m fitting out its new London office in Milton Gate, the firm's limited liability partnership (LLP) filings have revealed. According to the filings with Companies House, the national firm took out a £5.5m loan in order to help fund the process of setting up the new flagship office.
1 minute read
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Nabarro LLPs reveal £5m increase in partner cash contributions
By Legal Week | December 14, 2009
Nabarro boosted its capital by £5m during the 2008-09 financial year after turning to the partnership to inject extra cash into the business. Figures contained within the firm's limited liability partnership (LLP) accounts show that partners contributed £16m into the business during the last financial year, up from the total of £11m the firm received from partners in 2007-08.
1 minute read
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Herbert Smith LLPs reveal £5m increase in bank borrowings
By Legal Week | December 7, 2009
Herbert Smith saw its total bank borrowings increase by £5m during 2008-09 according to its most recent limited liability partnership (LLP) accounts. The top 10 City firm's LLP accounts, recently filed with Companies House, show the firm had total bank borrowings of £75.6m at the close of the last financial year, compared with borrowings of £70.3m during 2008. The firm's bank overdraft and loans due within the year increased to £23.7m from £14.9m.
1 minute read
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LLP filings show nearly 400 partners left UK top 20 firms in 2009
By Legal Week | December 2, 2009
The UK's top 20 law firms have seen nearly 400 partners leave since the beginning of 2009, with Clifford Chance (CC), Eversheds and Allen & Overy (A&O) topping the departure rankings. Limited liability partnership (LLP) filings with Companies House show that 384 partners have left the UK's largest 20 firms by revenue since 1 January – in a year in which many firms have been actively restructuring their partnerships and managing out partners. This figure rises to 496 including partners resigning from the LLP but remaining with the firms as consultants or offices outside the LLP.
1 minute read
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Reed Smith LLP accounts show £4m cost from Midlands split-off
By Legal Week | November 11, 2009
Reed Smith is to pay nearly £4m for the disposal of its Birmingham office and is committed to paying out more than £11m to fit out its new office space in London, according to its 2008 limited liability partnership (LLP) accounts. The accounts show the US law firm estimates the Midlands disposal will cost £3.86m. Reed Smith said in October 2008 that it was spinning the office off into a new, independent firm called Hill Hofstetter. The office launched in January 2009 and is led by former Reed Smith Birmingham head Chris Hill.
1 minute read
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