Terry Farrell & Partners has posted a pre-tax profit of ￡301,682 for the year ended 31 March 2011, from a turnover of ￡5.4 million.

The results filed at Companies’ House mark a return to the black for the firm, which the previous year saw a ￡376,617 pre-tax loss from a turnover of ￡6.2 million.

Over the 12 months the number of architects working for the firm dropped from 54 to 39, while the highest paid director, believed to be Terry Farrell, saw his salary fall 75% from ￡322,760 to ￡82,391.

The directors’ report said the practice remains “optimistic about future growth opportunities” but that they anticipate market conditions to remain challenging.