Addleshaw Goddard took out a £14.5m loan and asked partners to contribute £15.6m to the business during the past financial year, the firm's limited liability partnership (LLP) filings have revealed.

The figure of £15.6m put into the business compares to a total of just £1.2m contributed by the partnership during 2008-09.

According to the filings with Companies House, the £14.5m loan increased the national firm's overall borrowings to £20m, following a £5.5m loan taken out during the 2008-09 financial year to help fund the launch of the firm's new London office.

Addleshaws chief financial officer Martin Gaskin said: "The bank facility and partner capital were elements of the strategy to ensure the appropriate capitalisation of the firm for the short and long-term development and investment in the business."

The LLPs also show that net debt for 2009-10 stood at £18.9m, compared to 2008-09 when the firm had £1.5m of funds. Cash at the bank and in hand reduced to £1m from £6.9m in 2008-09, while debtors increased to £78.4m, up from £65.8m the previous year.

The total number of fee earners and support staff both reduced, with overall staff numbers falling to 1,033 from 1,178, resulting in a drop in total staff costs to £56.4m from £60m. Partner headcount also reduced to 165 from 174.

The highest paid member at the firm during the year received £572,014 compared to the previous year's figure of £552,995.