The accounts relate to the firm’s UK operations, in addition to offices in Belgium, Italy, Qatar and Singapore.

The figures show that the member with the greatest share increased from £898,000 to £1,070,000. The news comes as the firm’s headcount fell from 2,168 to 1,875, with fee-earners dropping from 11 per cent and support staff by 16 per cent.

The accounts said elsewhere that revenue was stable at about £200m. The firm repaid £60m of retained cash flow after transferring assets related to its UK operations to another LLP vehicle.