Tods Murray – UK 100

Turnover: £17.4m

Profit per equity partner: £175,000

Equity spread: £110,000-£230,000

Net profit: £6.1m

Profit margin: 35 per cent

Salaried partner remuneration: £80,000-£100,000

Revenue per lawyer: £158,000

Revenue per partner: £435,000

Revenue per equity partner: £527,000

Cost per lawyer: £103,000

Profit per lawyer: £55,000

No of partners: 40

No of equity partners: 33

No of female partners: Eight

No of female equity partners: Five

Total no of fee-earners (including consultants, paralegals etc): 130

Total no of fee-earners (excluding consultants, paralegals etc): 110

Total no of staff: 256

Leverage ratio: 1:2.12

Equity partner to staff ratio: 1:3.82

Fee-earner to staff ratio: 1:0.97

Financial management: Lockup target 136 days (91 days WIP and 45 debtor days), achieved 232 at year-end (WIP 163 days, 69 debtor days). Figures include a ‘minor’ adjustment for FRS5. Practice profile by revenue is corporate 28.2 per cent, finance 24.3, litigation 7.3, property 38.4 and employment 1.8.

Equity structure: Lockstep with discretionary bonus and five steps to plateau.

Billable hours targets: 1,200 partners.

Key clients: Catalyst Capital, Clerical Medical, Clydesdale Bank, HBOS, Hermes Project Asset Management, Thus plc.