Gravitate Accounting, which specialises in Xero cloud software, digital accounting and outsourced FD services, has added a third director to its board as it continues to grow.
Jonathan Carr, who has been employed as a Client Finance Director at the Sheffield-based business since January 2021, has become a minority shareholder to support the strategic direction of the business alongside co-founders Sam Newton and Mike Crocker.
Gravitate Accounting has also hired three new team members to support the firm’s growing client base. They are Digital Accountant Charlie Goodwin, Client Financial Controller Charlotte Firth and Office Support Amy Howard. The changes have been made as the business reports a 34% revenue uplift for the period ending April 2022 and has added 40 new clients to its roster since January.
Gravitate Accounting was established by Newton and Crocker in 2019 with a vision to revolutionise and personalise accountancy services via a digital-first approach, supporting businesses of all sizes to achieve sustainable growth. This has seen the Gravitate Accountancy team work closely with a range of organisations, from start-ups to businesses with revenues up to £45m, offering bespoke financial advice which has seen clients flourish. The firm’s outsourced FD services have been in particular demand.
Jonathan Carr, Client Finance Director, said: “I’m absolutely delighted to become a shareholder at Gravitate Accounting. It’s been an incredible journey so far, working alongside our fantastic team of specialists to offer the very best financial advice for a range of interesting and ambitious businesses across the Yorkshire region and beyond. It’s great to see Gravitate Accounting go from strength to strength and I’m looking forward to being increasingly involved with the future direction of the business.”
Newton added: “Jonathan is an experienced accountant and is extremely well thought of in the accountancy sector here in Sheffield. We’re really pleased to welcome him to our board, alongside our brilliant new recruits, as we continue on to the next chapter of our growth journey.”
Gravitate Accounting is based in Kelham Island, Sheffield, and also has hot desks available for hire in its offices. The business is giving all of its team members the opportunity to become shareholders to recognise the contribution they all make to the future success of Gravitate Accounting. Over the coming months, the accountancy firm plans to strengthen the team further with several more hires.
Newton added: “It’s been an incredibly busy 12 months and the fantastic results we’ve achieved have only been possible because of the hard work of our team. We don’t take this success lightly and recognise that it’s been a tough period of trading for so many sectors. That’s why we’re doing all we can currently to prepare all of our clients for any future downturn in the economy to ensure that they are as recession-proof as possible.
“As business owners ourselves, we’ve experienced first-hand many of the ‘growing pains’ that our clients experience and so have been able to give insight to help navigate these. We also recognise the time restraints on many business owners and so do all we can to alleviate this by giving trusted and dedicated accountancy support which helps to bolster their business in the right ways. The growth in our team will enable us to offer even more services.”
Gravitate Accounting’s services include outsourced FD, outsourced bookkeeping, Xero digital switchovers, monthly management accounting, VAT, statutory accounts, payroll and tax compliance.