Gateley brings Manchester operation ‘in-house’
BIRMINGHAM law firm Gateley has moved its Manchester office into its main LLP after a strong year of trading.
The firm – which is headed up in Birmingham by Michael Ward – acquired its Manchester office out of administration after the demise of Halliwells in 2010 and created Gateley Manchester LLP outside of its main operating company.
Accounts for Gateley Manchester for the year to the end of April 2012 reveal the firm has transferred its on-going business, trading assets and liabilities into Gateley LLP.
From a trading perspective, profits before members remuneration and profit share rose 43% from £4.2m to £6m as turnover rose 19.5% to £16.5m. Net assets rose from £3.08m to £4.4m.
Average profit per member of the LLP – the equivalent of equity partners – was £158,952, up from £111,626 in 2011.
Of the 181 staff based in the firm’s Manchester office, there are 38 members, 87 other legal staff and 56 support and admin personnel.