DWF staff costs rose 12 per cent in 2009-10, LLPs reveal

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  • DWF may have posted an increase in turnover and profits, but it still has to repay £10.5 million in debt by January 2013. The fact that the accounts clearly state these borrowings under the "going concern" part of the accounts suggests that the auditors insisted on making the large debts explicit. Given that the partners' drawings were £14 million last year, this means that the partners would have to reinvest most of the surplus cash to repay these debts should the banks be reluctant to extend the debt faciltities in 2013.

    It is also interesting to note that the member with the highest entitlement to profits saw their share increase from £386,000 in 2009 to £619,000 in 2010, an increase of 60 % compared to an increase in net profits of only 28%.

    Given the very flash offices that DWF occupies, I wonder if they will be the next Halliwells?

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  • The DWF formula works.

    Rumours abound that DWF will be merging (taking over) an under-performing Newcastle firm fairly shortly.

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  • Staff costs rising? Better get out the redundancy monopoly board.

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  • DWF are going places but there are many jealous people and firms around.Haliwells were stupid, DWF are Smart

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