SNR Denton reduced UK headcount by almost 10% during the 2011-12 financial year, a move which contributed to savings of more than £7m for the firm, according to its newly filed accounts.

The LLP accounts, filed on Companies House today (16 January), show fee earner count in the firm's UK arm fell 9% from 517 to 471 during the last financial year, while support staff numbers dropped by a similar proportion from 577 to 523.

The cutbacks resulted in a £7.1m drop in total staff costs, down from £82.8m to £75.7m.

The figures go some way to explaining a 42% drop in the UK LLP's bank loans and overdrafts, which decreased from £22.8m to £13.2m during the year. The firm also significantly hiked capital contributions by members during 2011-12, up to £5.9m from just £1.3m in 2010-11.

As previously reported by Legal Week, the firm saw revenues fall by 6% for the full financial year, down to £144.8m from £152.5m.

Meanwhile, profits per equity partner rose by almost 50% to £350,000. The best-paid member of the UK partnership earned £683,000, down almost 10% from the top figure of £755,000 the previous year.

The accounts also reveal that the firm has spent £2.8m on software, computer equipment and associated costs for a new document management system, which was due to go live in late 2012.

Last year, the firm's LLP accounts for the year to 30 April 2011 showed a steep fall in profit for the UK arm of the transatlantic firm, with support staff numbers falling from 614 to 577.