The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Ashurst raised more than £500,000 by selling off company cars during the 2011/12 financial year after only a small number of partners opted into a car scheme.
The firm’s LLP accounts, filed at Companies House on Tuesday (22 January), show that the firm disposed of motor vehicles worth £555,000 during the financial year, but slashed its fleet of cars by £517,000 taking into account exchange differences and the extra £35,000 of cars it added.
In 2010/11 the firm disposed of £537,000 of motor vehicle but bought another £421,000, meaning the total value of its company cars that year dropped by just £116,000.
The drop in the most recent financial year resulted from low uptake among partners for a car, which are available to all senior equity partners seeking one through a lease scheme.
Meanwhile, the firm’s highest-earning partner in 2011/12 took home £1.053m, a marginal increase on £1.052m in 2010/11 (7 February 2012). This represents the firm’s top-of-equity figure.
Separately, the firm’s advisory fees to auditors, mostly Deloitte, jumped by 59 per cent from £348,000 in 2010/11 to £555,000 in 2011/12, largely on the back of the firm’s expansion through its tie-up with Australia’s Blake Dawson.
While audit fees dipped from £134,000 to £130,000, non-audit fees nearly doubled, rising by 99 per cent from £214,000 to £425,000. Tax advisory fees, previously the only figure making up the non-audit amount, rose from £214,000 to £263,000, while other non-audit fees in 2011/12 were £162,000.
Staff headcount rose by 4 per cent from 1,602 in 2010/11 to 1,673 in 2011/12 on the back of Asia Pacific and European expansion, while total salary costs increased by 8 per cent from £116.2m to £125m during the same period.
Firmwide turnover excluding Ashurst Australia in 2011/12 was £321.2m, marginally down on the £322m unaudited figure it announced in May last year (29 May 2012). Revenue jumped by 7 per cent from £301.2m in 2010/11.