A change in the accounting procedures prior to limited-liability partnership (LLP) conversion led to capital contributions increasing to £3m on the balance sheet of South West firm Burges Salmon.
According to its accounts for the financial year ending 30 April 2004, capital contributions stood at £3m.
A spokesperson for the firm claimed that the figure was part of a balance sheet restructuring prior to LLP conversion.
Profit per partner stood at £332,000 for the year ending 30 April 2005 and £303,000 for the previous financial year.
Burges Salmon has two levels of partner - equity and fixed-share equity. The firm's equity partners received £363,000 and £335,000 for 2004-05 and 2003-04 respectively, according to figures supplied by firm to The Lawyer.
The highest profit paid to any Burges Salmon partner in the 2004- 05 financial year was £443,000, according to the accounts. This is slightly more than the reported equity spread of £215,000-£430,000.
The LLP accounts showed that Burges Salmon had a little more than £6m cash in hand for the last financial year.