Beachcroft’s LLP accounts reveal that the firm’s staff costs hit £55.18m in its 2006-07 year, up from £49.18m the previous year, with salaries accounting for much of the increase. The firm — which has been operating as an LLP since May 2006 — spent £47.65m during the financial year, up from £42.64m the previous year.
The firm saw headcount in the LLP increase over the period, gaining an extra 18 fee earners and six support staff. The increase took its total staff numbers to 1,189, compared with 1,165 the previous year.
Patrick Firebrace, assistant director of finance at Beachcroft, told Legal Week: “The increase in our staff costs relate to both an overall increase in staff numbers during 2006-07 and a general increase in salaries for both fee earners and support staff. There is no particular reason for the increase in salaries, other than the increase in headcount.”
The accounts also revealed that the firm has a small surplus in its pension scheme of £79,000.
The LLP accounts come on the back of a disappointing financial year for Beachcroft, with the top 25
The firm also announced that it would be axing its international practice group in a move that puts one partner and five associates in the firm’s
Meanwhile, Wragge & Co’s LLP accounts for the financial year ending 30 April, 2007, which were filed earlier this year, reveal that the firm replaced its company pension scheme held with Scottish Widows with a new stakeholder personal pension plan.
The firm said that it has maintained benefit levels for staff.