The amount of capital Eversheds repaid to its members rose nearly five-fold in the last financial year, the firm's accounts reveal.

In its accounts for the year to 30 April 2014 filed at Companies House, the firm reported that it repaid £10m to members, up from £2.2m last year.

The increase in repayments came as the number of members across the group shrunk to 292 in 2013-14, down from 305.

Eversheds' profit is not fully shared among members until after the financial statements have been finalised, but at the time of preparing the accounts the firm estimated the highest member would receive £1.4m for the 2013-14 financial year, compared with £1.2m for the previous year.

Average remuneration per member rose 15% to £417,000, up from £361,000.

Turnover at the firm rose just over 1% to £380m, up from £376m, while group operating profit – taking into account Eversheds' share in its joint ventures' profit – rose to £122m from £118m, a 3.5% gain.

The UK accounted for £337.5m of turnover in 2013-14, up from £335.9m the previous financial year. Turnover in the rest of Europe fell, however, to £17.7m from £20.4m.

Staff costs nudged up to £150.8m from £150.2m, but the firm slashed the deficit on its defined pension benefit scheme to £131,000 last financial year, down from £772,000 in 2012-13.

The accounts also confirm the exit of the firm's South African arm Routledge Modise from the Eversheds network over client conflicts. Eversheds has since signed a tie-up with South African firm Mahons, set up by former Routledge Modise chairman Terry Mahon in 2011 and now rebranded as Eversheds.

Writing in the accounts, Eversheds chief executive Bryan Hughes said: "The firm continues to invest in developing its international operations in order to improve its offering to global clients in the key jurisdictions in which they operate."

Gateley also released its accounts today, reporting an 18% increase in operating profit to £20.4m, up from £17.3m, on the back of a £3m increase in revenue from to £53.8m, up from £50.7m.

Average profit per member also rose to £222,017, up from £194,425.

The firm increased its cash at bank and in hand position to £1.9m, up from £440,000, over the 2013-14 financial year. It also reported that capital contributions from members nearly doubed to £949,453, up from £501,776.

The accounts also showed that it will pay £150,000 to the liquidators of now defunct law firm Halliwells – from which Gateley took on 43 partners at the start of the 2013-14 financial year – on 20 July 2015.