Allen & Overy's (A&O's) highest paid partner took home £2.8m in 2015-16, the firm's accounts have revealed.

The figure, which is marginally down on last year's equivalent of £2.9m, is contained within audited limited liability partnership (LLP) accounts for the business filed with Companies House this month.

For the year ending 30 April 2016, the firm's lockstep ranged from £745,000 to £1.862m, a shift upwards from the 2014-15 range of £712,000 to £1.78m, although average profit per equity partner fell almost 1% to £1.2m.

The firm had an average of 434 full equity partners during the year, down on last year's equivalent figure of 440. The average number of all partners also dipped slightly, from 527 to 523.

Total staff costs rose almost 6% in the year from £433m to £457m, an increase the firm attributed to headcount and compensation increases.

The average number of people employed during the year (excluding partners) rose from 4,422 to 4,532, primarily driven by an increase in fee earner numbers from 2,220 to 2,327, while support staff headcount rose marginally from 2,202 to 2,205.

The accounts reveal that the LLP had a bank overdraft facility of £10m and committed bank loan facilities of £150m, but has used neither and has no net debt.

The accounts also provide an update on the firm's attempts to reach 20% female representation among its partnership. This year's partner promotions – which saw six women made up among a total of 21 new partners – mean the firm now has a 20% female UK partnership and 18% internationally.