Taylor Wessing partners paid in just under £2m more in capital in 2015-16 than the previous year, according to limited liability partnership (LLP) accounts filed with Companies House earlier this month.

The accounts show members contributed £3.59m in capital in 2015-16, compared with £1.61m the previous year.

The increase in capital contributions comes after Legal Week reported in early 2015 that the firm was set to become an all-equity UK partnership, in a move that was expected to see fixed-share partners contribute capital into the firm in return for their equity status.

The accounts also show that Taylor Wessing's management team took home nearly 20% more in 2015-16, compared with the previous year.

The team received £6.08m in salaries and profits last financial year, up from £5.09m in 2014-15, with the increase reflecting the fact more people sat on the firm's board last year than the year before, when there were a number of vacancies on the nine-strong board.

The firm's highest paid partner received £1.17m – up 8% from £1.08m.

According to the accounts, filed with Companies House this month, turnover at Taylor Wessing increased by 5% from £120.65m to £126.65m. Operating profit fell slightly from £49.99m to £49.85m

In July last year, Taylor Wessing reported a slight increase in profit per equity partner (PEP) for its UK partnership, from £767,000 to £770,000.

The firm posted an improved cash position, with cash at bank and in hand increasing from £11.69m to £19.09m.

Staff costs rose 7% from £41.31m to £44.32m, as the average number of employees remained broadly stable, nudging up from 550 to 552.

The average number of members during the year was 100, down from 103.

The firm has made a number of senior appointments in the past 12 months. In September last year, it hired Olswang City corporate partner Duncan McDonald.

The firm also hired Liz Bunce Grundy as international HR director from Cushman & Wakefield and Rachel Reid as chief operating officer from King & Wood Mallesons, both in January 2016, while Michael Michaelides joined as international business development director from Allen & Overy in May 2016.

Last month, Taylor Wessing became the first law firm to roll out the use of a new video game test for its trainee applicants. It was the first firm to trial the use of the Cosmic Cadet game created by UK psychometric game developer Arctic Shores.

It began using it to help assess its City trainee applicants from the start of October – the beginning of the firm's six-month recruitment round for 2019 training contracts.