Turnover (£m): 24.9
Average PEP: 435
Equity spread (£k): 275-607
Profit margin (%): 17
RPL (£k): 206

Kingsley Napley’s turnover grew by almost 16 per cent in 2010-11 to £24.9m, with criminal, regulatory and employment all exceeding budgets. Net profit nudged up from £4.25m to £4.3m, while average profit per equity partner rose by 2 per cent, from £425,000 to £435,000.

The London-based firm’s headcount ­expanded last year, with Kingsley Napley ­increasing its qualified lawyer base by 35 per cent. The average partner headcount, however, fell slightly, from 41 to 38, while the ­equity partnership remained stable at 10.

The firm is open to laterals in key areas of growth, recruiting partner Michelle Chance from Fox Lawyers into its employment ­department in July 2010. It is currently looking to expand its private client team.

Kingsley Napley is managed on a day-to-day basis by a five-person team, with managing partner Linda Woolley the only partner. Woolley retains strong decision-making powers and holds fortnightly ­meetings with the 13 equity partners.

The firm operates a modified lockstep of 50-100 points. While Woolley and senior partner Christopher Murray handle ­appraisals, a remuneration committee made up of Woolley, Murray and two equity partners take decisions on the merit pool.

It also has a performance pool of £100,000 with a discretionary ­distribution. Woolley anticipates that, ­despite retaining a modified lockstep, one-third of profit will be delivered on a merit basis in the current financial year.