Norton Rose Fulbright reduced its net debt by £18.6m during the 2012-13 financial year, according to the firm’s latest limited liability partnership (LLP) accounts.

The report, filed with Companies House, showed that overall net debt dropped from £26.1m to £7.5m. The decrease occurred alongside an increase in debt due within one year, which grew from £3.3m at the end of 2012 to £16m.