L@
127,951 | | |
| Prepaid expenses and other
49,641 | | |
| Furniture and other equipment | | |
| Total non-allowable assets | | 177.592 |
| Net capital before haircuts and securities positions | | 282,621 |
| Haircuts | | |
| Net capital | | 282,621 |
| Minimum capital requirements: | | |
| 6 2/3% of total indebtedness - \$742,332 (\$49,488) | | |
| Minimum dollar net-capital requirement
For this broker-dealer (\$50,000) | | |
| Net capital requirement | | 50,000 |
| Net capital in excess of required minimum | | 232,621 |
There are no material differences between the preceeding computation and the Company's corresponding unaudited Part IIA of Form X-17A-5 as of June 30, 2023.
{17}------------------------------------------------
## SCHEDULE II PORTSMOUTH FINANCIAL SERVICES Computation of Aggregate Indebtedness Under Rule 17a-5 of the Securities and Exchange Commission FOR THE YEAR ENDED June 30, 2023
#### Total Aggregate Indebtedness
| Salaries and Commissions | | 661,881 |
|-------------------------------------------------------|---|---------|
| Accrued Expenses | | 80,441 |
| Aggregate indebtedness | | 742,322 |
| Total liabilities on Statement of Financial Condition | S | 884,073 |
| | | |
| | | |
| Percentage of aggregate indebtedness to net capital | | 267 Kh |
{18}------------------------------------------------
## SCHEDULE III PORTSMOUTH FINANCIAL SERVICES The Information for Possession or Control and Reserve Requirements for Brokers and Dealers Under Rule 15c3-3 of the Securities Exchange Act of 1934 FOR THE YEAR ENDED June 30, 2023
l'he Company operated under exemptive provision of paragraph (k)(2)(ii) of SEC Rule 15c3-3
15
{19}------------------------------------------------
100 E. Sybelia Ave. Suite 130 Maitland. FL 32751
Certified Public Accountants Email: pam a ohabco.com
Telephone 407-740-7311 Fax 407-740-6441
#### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Directors and Stockholder's of Portsmouth Financial Services
We have reviewed managements, included in the accompanying Exemption, in which (1) Portsmouth Financial Services identified the following provision(s) of 17 C.F.R. §15c3-3(k) under which Portsmouth Financial Services claimed the following exemption(s) from 17 C.F.R. §240.15c3-3. (k)(2)(ii) and (2) Portsmouth Financial Services stated that Portsmouth Financial Services met the identified exemption provisions throughout the most recent fiscal year without exception.
The Company is also filing this Exemption Report because the Company's other business activities contemplated by Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 are limited to proprietary trading, mutual funds retailer, selling variable life insurance and annuities, and private placements of securities. In addition, the Company did not directly receive, hold, or otherwise owe funds of securities for or to customers, other than money or other consideration received and promptly transmitted in compliance with paragraph (a) or (b)(2) of Rule 15c2-4 and/or funds received and promptly transmitted for effecting transactions va subscriptions on a subscription way basis where the funds are payable to the issuer or its agent and nother Company, did not carry accounts of or for customers; and did not cary PAB accounts (as defined in Rule 1503-3) throughout the most recent fiscal year without exception.
Portsmouth Financial Services' management is responsible for compliance with the exemption and its statements.
Our review was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and, accordingly, included inquiries and other required procedures to obtain evidence about Portsmouth Financial Services' compliance with the exemption provisions. A review is substantially less in scoge than an examination, the objective of which is the expression of an opinion on management's statements. Accordingly, we do not express such an opinion.
Based on our review, we are not aware of any material modifications that should be made to management's statements referred to above for them to be fairly stated, in all material respects, based on the provisions set forth in paragraph(s) (k)(2)(ii) of Rule 15c3-3 under the Securities Exchange Act of 1934 and the Company's other business activities contemplated by Footne 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5, and related SEC Staff Frequently Asked Questions.
Maitland, Florida September 27, 2023
{20}------------------------------------------------
250 Montgomery Street, Ste 200 San Francisco. CA 94104
July 24, 2023
Portsmouth Financial Services' Exemption Report
Portsmouth Financial Services (the "Company") is a registered broker-dealer subject to Rule 17a-5 promulgated by the Securities and Exchange Commission (17 C.F.R. §240.17a-5, "Reports to be made by certain brokers and dealers"). This Exemption Report was prepared as required by 17 C.F.R. § 240.17a-5(d)(1) and (4). To the best of its knowledge and belief, the Company states the following:
- (1) The Company claimed an exemption from 17 C.F.R. § 240.15c3-3 under the following provisions of 17 C.F.R. § 240.15c3-3 (k)(2)(ii).
- (2) The Company met the identified exemption provisions in 17 C.F.R. § 240.15c3-3 (k) throughout the most recent fiscal year without exception.
- (3) The Company is also filing this Exemption Report because the Company's other business activities contemplated by Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 are limited to: proprietary trading, mutual funds retailer, selling variable life insurance and annuities, and private placements of securities, and the Company (1) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, (other than money or other consideration received and promptly transmitted in compliance with paragraph (a) or (b)(2) of Rule 15c2-4 and/or funds received and promptly transmitted for effecting transactions via subscriptions on a subscription way basis where the funds are payable to the issuer or its agent and not to the Company); (2) did not carry accounts of or for customers; and (3) did not carry PAB accounts (as defined in Rule 15c3-3) throughout the most recent fiscal year without exception.
Portsmouth Financial Services
I, Echo Chien , swear (or affirm) that, to my best knowledge and belief, this Exemption Report is true and correct.
By:
Title:
Date of Report:
CEO
07/24/23
Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.