In a video interview with Legal Week, an accountant discusses the strengths and weaknesses of the U.K.'s top law firms based on an analysis of their LLP accounts.
June 19, 2019 at 04:39 AM
1 minute read
Editor-In-Chief
The U.K.’s top 50 law firms have worryingly little cash on their balance sheets, according to a comprehensive analysis of limited liability partnership accounts by audit firm Smith & Williamson.
The top 50 had a combined amount of £1.325 billion of cash on their balance sheets in the accounts, and combined bank loans and overdrafts of £875 million, which leaves them with net cash of £450m.
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