# KENSINGTON CAPITAL CORP. X-17A-5 (2022-03-31) — Broker-dealer annual report - Company: KENSINGTON CAPITAL CORP. - Form: X-17A-5 - Filed: 2022-03-31 - Period: 2021-12-31 - Accession: 0000707011-22-000003 - CIK: 707011 - File #: 8-28301 - Type: Broker-dealer - Material weakness: No - Auditor: RGNC and S Certified Public Accountants PLLC - Auditor location: Woodbury, NY - Contact: Philip Ciantro - Phone: 6462269300 - Email: pciantro@kenscap.com - Website: kenscap.com - Signed by: Moses Silver (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/707011/000070701122000003/kccpub2021.pdf --- {0}------------------------------------------------ | | UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SEC FILE NUMBER | | |----------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------|------------------------------------------------------------------------------------------------------------------------------------------|--| | | | | | | | | FORM X-17A-5 | | 8-28301 | | | | PART III | | | | | FILING FOR THE PERIOD BEGINNING 01/01/21 | FACING PAGE
Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | AND ENDING 12/31/21 | | | | | MM/DD/YY | | MM/DD/YY | | | | A. REGISTRANT IDENTIFICATION | | | | | NAME OF FIRM: Kensington Capital Corp. | | | | | | TYPE OF REGISTRANT (check all applicable boxes):
Check here if respondent is also an OTC derivatives dealer | Broker-dealer dealer - Security-based swap dealer - _ Major security-based swap participant
ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | | 4910 13th Avenue | | | | | | | (No. and Street) | | | | | Brooklyn | NY | | 11219 | | | (City) | (State) | | (Zip Code) | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | Philip Ciantro | 646-226-9300 | pciantro@kenscap.com | | | | (Name) | (Area Code - Telephone Number) | (Email Address) | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
RGNC&S Certified Public Accountants PLLC
(Name - if individual, state last, first, and middle name) | | | | | | 97 Froehlich Farm Blvd Woodbury | NY | 11797 | | | (Address)
02/23/10 | (City) | (State)
5028 | (Zip Code) | | | (Date of Registration with PCAOB)(if applicable) | | | (PCAOB Registration Number, if applicable) | | | CFR 240.17a-5(e)(1)(ii), if applicable. | FOR OFFICIAL USE ONLY
* Claims for exemption from the requirement that the annual reports of an independent public
accountant must be supported by a statement of facts and circumstances relied on as the basis of the exemption. See 17 | | | | Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. {1}------------------------------------------------ ### OATH OR AFFIRMATION | | , swear (or affirm) that, to the best of my knowledge and belief, the | |----------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------| | financial report pertaining to the firm of Kensington Capital Corp. | as of | | 12/31 | 2 21 is true and correct. I further swear (or affirm) that neither the company nor any | | | partner, officer, drector, or equivalent person, as the case may be, has any proprietary interest in any account classified solely | | as that of a customer, Public - State of New York | | | NO. 01456595809 | | | Qualified in Kings County
My Commission Expires Aug 5, 2023 | Signature: | | | | | | Inte: | | | Chief Executive Officer | | | | | Notary Public | | | This filing ** contains (check all applicable boxes): | | | (a) Statement of financial condition. | | | (b) Notes to consolidated statement of financial condition. | | | (c) Statement of income (loss) or, if there is other comprehensive income in the period(s) presented, a statement of | | | comprehensive income (as defined in § 210.1-02 of Regulation S-X). | | | J (d) Statement of cash flows. | | | (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. | | | (f) Statement of changes in liabilities subordinated to claims of creditors. | | | (g) Notes to consolidated financial statements. | | | (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. | | | (i) Computation of tangible net worth under 17 CFR 240.18a-2. | | | [j] Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. | | | Exhibit A to 17 CFR 240.18a-4, as applicable. | (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or | | [1) Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3. | | | [ (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. | | | [n) Information relating to possession or control requirements for security-based swap customers under 17 CFR | | | 240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable. | | | | | | | [ (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net | | | worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-2, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 | | exist. | CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences | | | | | (p) Summary of financial data for subsidiated in the statement of financial condition | | | [q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable. | | | [r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. | | | (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. | | | (t) Independent public accountant's report based on an examination of the statement of financial condition. | | | CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. | [u] Independent public accountant's report based on an examination of the financial statements under 17 | | CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. | [ (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 | | [w] Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17
CFR 240.18a-7, as applicable. | | | as applicable. | [ (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.17a-12, | | | [ (y) Report describing any material inadequacies found to exist or found to have existed since the date of the previous audit, or | | | | | | | | a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k).
[ (z) Other: | | {2}------------------------------------------------ ## KENSINGTON CAPITAL CORPORATION Statement of Financial Condition and Report of Independent Registered Public Accounting Firm For the Year Ended DECEMBER 31, 2021 {3}------------------------------------------------ ![](_page_3_Picture_0.jpeg) ### **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Stockholders of Kensington Capital Corp. ### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of Kensington Capital Corp. (the "Company") (a limited liability company), as of December 31, 2021, and the related notes to the financial statement. In our opinion, the statement of financial condition presents fairly, in all material respects, the financial position of Kensington Capital Corp. as of December 31, 2021, in conformity with accounting principles generally accepted in the United States of America. ### **Basis for Opinion** This financial statement is the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statement based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement is free of material misstatement, whether due to error or fraud. Our audit included performing procedures to assess the risks of material misstatement of the financial statement, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statement. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statement. We believe that our audit provides a reasonable basis for our opinion. Raphael Goldberg Nikpour Cohen & Sullivan Certified Public Accountants PLLC We have served as the Company's auditors since 2016. Woodbury, New York February 28, 2022 {4}------------------------------------------------ # KENSINGTON CAPITAL CORP, INC. Statement of Financial Condition December 31, 2021 | Assets | | | |--------------------------------------------|---|----------| | Cash in bank | S | 162,141 | | Due from clearing firm | | 120,320 | | Clearing broker deposit | | 147,830 | | Securities owned, at fair value | | 162,915 | | Prepaid expenses | | 9,288 | | Fixed assets, net | | 1,895 | | Total assets | S | 604,389 | | Liabilities and Stockholders' Equity | | | | Accounts payable and accrued expenses | S | 84,250 | | Payable to broker-dealer and clearing firm | | 154,335 | | Accrued payroll | | 96,030 | | Total liabilities | | 334,615 | | Stockholders' Equity | | | | Common stock, no par value | | | | 200 shares issued and outstanding | | 40,000 | | Additional paid-in-capital | | 251,885 | | Retained deficit | | (22,111) | | Total stockholders' equity | | 269,774 | | Total liabilities and stockholders' equity | S | 604,389 | {5}------------------------------------------------ ## KENSINGTON CAPITAL CORP, INC. Notes to Financial Statements DECEMBER 31, 2021 ## 1. Business and Summary of Significant Accounting Policies ## Business Kensington Capital Corp. ("the Company") is a registered broker-dealer with the Securities and Exchange Commission ("SEC"), is a member of Financial Industry Regulatory Authority ("FINRA") and is registered with the National Futures Association ("NFA"). The Company introduces its customers' business on a fully disclosed basis to a clearing broker, who clears and carries the Company's customer accounts. # Basis of Presentation The Company's financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP"). Revenue is recognized when earned, while expenses and losses are recognized when incurred. # Cash in Bank The Company maintains its bank accounts in high credit quality institutions. Balances at times may exceed federally insured limits. The company has not experienced any losses in such accounts and believes it is not exposed to any significant risk. ## Receivable from Clearing Firm and Restricted Cash The Company has an agreement with a clearing broker to execute and clear, on a fully disclosed basis, customer accounts of the Company. In accordance with this agreement, the Company is required to maintain a deposit in cash or securities. The Company has a deposit with its clearing broker, which is refundable to the Company should it discontinue its arrangement. Amounts receivable from its clearing organization consist of commissions receivable. The receivable is considered fully collectible and no allowance is required. ## Property and Equipment Furniture and equipment are stated at cost less accumulated depreciation. Depreciation is based on the straight-line method over the estimated useful lives. The estimated useful lives of furniture and equipment are from 5 to 7 years. Expenditures for maintenance and repairs are charged against operations. Additions, improvements, and expenditures that extend the life of the assets are capitalized. The Company periodically assesses the recoverability of the carrying amounts of long-lived assets. A loss is recognized when expected undiscounted cash flows are less than the carrying amount of the asset. The impairment loss is the difference by which future cash flows are less than the carrying amount of the asset. 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