# SENAHILL SECURITIES, LLC X-17A-5 (2021-02-24) — Broker-dealer annual report - Company: SENAHILL SECURITIES, LLC - Form: X-17A-5 - Filed: 2021-02-24 - Period: 2020-12-31 - Accession: 0001000316-21-000003 - CIK: 1564913 - File #: 8-69215 - Material weakness: No - Auditor: WithumSmithBrown, PC - Auditor location: New York, NY - Contact: Kathy Efrem - Phone: 2128971686 - Signed by: Gregg Sharenow (CFO) Original filing: https://www.sec.gov/Archives/edgar/data/1564913/000100031621000003/s20sena.pdf --- {0}------------------------------------------------ # SENAHILL SECURITIES LLC # STATEMENT OF FINANCIAL CONDITION AND INDEPENDENT AUDITORS' REPORT DECEMBER 31, 2020 {1}------------------------------------------------ ### UNITED ST ATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 # **ANNUAL AUDITED REPORT FORM X-17 A-5 PART** Ill | | 0MB APPROVAL | |---------------------------|-----------------| | 0MB Number: | 3235-0123 | | Expires: October 31, 2023 | | | Estimated average burden | | | hours oer resoonse 12.00 | | | | SEC FILE NUMBER | | 8- | 69215 | | | | # **FACING PAGE Information Required of Brokers and Dealers Pursuant to Section 17 of the Securities Exchange Act of 1934 and Rule 17a-5 Thereunder** | REPORT FOR THE PERIOD BEGINNING | ____
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;,1::;.2/.;;.31.;,;,/2::.;0;.:2.;;.0 | | |-------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------|------------|-----------------------------------------------------|--| | | MM/DDNY | | MMIDDN Y | | | | A. REGISTRANT IDENTIFICATION | | | | | NAME OF BROKER-DEALER: | | | | | | | | | OFFICIAL USE ONLY | | | SenaHill Securities, LLC | | | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O. Box No.) | | | FIRM ID. NO. | | | | 115 Broadway, 12th Floor | | | | | | (No. and Street) | | | | | New York | NY | | 10006 | | | (City) | (State) | | (Zip Code) | | | | | | | | | NAME AND TELEPHONE NUMBER OF PERSON TO CONT ACT IN REGARD TO THIS REPORT | | | | | | Kathy Efrem | | | 212-897-1686 | | | | | | (Area Code - Telephone No.) | | | | B. ACCOUNT ANT IDENTIFICATION | | | | | | | | | | | | | | | | | | | | | | | | WithumSmith + Brown, PC
(Kame -- /(individual, state /ast,first, middle name ) | | | | | | New York | NY | 10018 | | | 1411 Broadway, 9th Floor
(Address) | (City) | (State) | (Zip Code) | | | rn Certified Public Accountant
D Public Accountant
D Accountant not resident in United States or any of its possessions | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose opinion is contained in this Report*
CHECK ONE: | FOR OFFICIAL l 'SE ONLY | | | | *\*Claims for exemption from the requirement that the annual report be covered by the opinion of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis for the exemption. See section 240. l 7a-5(e)(2).* SEC 1410 (06-02) *Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the.form displays* a current(v valid **0MB** *control* number. {2}------------------------------------------------ #### **AFFIRMATION** I. Gregg Sharenow, affinn that, to the best of my knowledge and belief, the accompanying financial statement(s) and supplemental schedule{s) pertaining to SenaHiU Securities, LLC for year ended December 31, 2020, are true and correct. I further affirm that neither the Company nor any officer or director has any proprietary interest in any account classified solely as that of a customer. **Si** CfO Title ~~!~ */},. ~~+-v (* Notary Public **JANICE M. ROBERTS NOTARY PUBLIC STATE OF NEW JERSEY MY COMM. EXP. 6-21-2025** \\_/ {3}------------------------------------------------ # **This report** \*\* **contains (check all applicable boxes):** - [x] Report oflndependent Registered Public Accounting Firm. - [x] Facing Page. - [x] Statement of Financial Condition. - [ ] Statement of Operations. - [ ] Statement of Changes in Member's Equity. - [ ] Statement of Cash Flows. - [ ] Statement of Changes in Liabilities Subordinated to Claims of General Creditors (not applicable). - [ ] Computation of Net Capital for Brokers and Dealers Pursuant to Rule 15c3-1 - under the Securities Exchange Act of 1934. - [ ] Computation for Determination of Reserve Requirements for Brokers and Dealers Pursuant to Rule I 5c3-3 under the Securities Exchange Act of 1934. - [ ] Information Relating to the Possession or Control Requirements for Brokers and Dealers Pursuant to Rule I 5c3-3 under the Securities Exchange Act of 1934 (not applicable). - [ ] A Reconciliation, including appropriate explanations, of the Computation of Net Capital Pursuant to Rule 15c3-I and the Computation for Determination of Reserve Requirements Under Rule 15c3-3. - [ ] A Reconciliation Between the Audited and Unaudited Statements of Financial Condition With Respect to Methods of Consolidation (not applicable). - [x] An Oath or Affirmation. - [ ] A copy of the SIPC Supplemental Report. - [ ] A report describing any material inadequacies found to exist or found to have existed since the date of the previous audit (Supplemental Report on Internal Control). - [ ] Independent Auditors' Report on Internal Control Required by SEC Rule l 7a-5(g)( I). - [ ] Independent Auditors' Report Regarding Rule I 5c3-3 Exemption. - [ ] Rule I 5c3-3 Exemption Report {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) ### **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Member of SenaHill Securities, LLC #### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of SenaHill Securities, LLC (the "Company") as of December 31 , 2020, and the related notes (collectively referred to as the "financial statement"). In our opinion, the financial statement presents fairly, in all material respects, the financial position of the Company as of December 31, 2020, 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 this 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. We have served as the Company's auditor since 2015. New York, New York February 24, 2021 {5}------------------------------------------------ # **SENAHILL SECURITIES LLC STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2020** ### **Assets** | Cash | \$
414,912 | |---------------------|---------------| | Accounts receivable | 48,099 | | Due from affiliate | 20,000 | | Other assets | 4,288 | | Total assets | \$
487,299 | | | | ### **Liabilities and Member's Capital** | Liabilities: | | |----------------------------------------|---------------| | Accounts payable | \$
112,377 | | Member's capital | 374,922 | | Total liabilities and member's capital | \$
487,299 | **The accompanying notes are an integral part of this financial statement.** {6}------------------------------------------------ ## **SENAHILL SECURITIES LLC** # **NOTES TO FINANCIAL STATEMENT DECEMBER 31, 2020** ### **Note 1** - **Organization and nature of business** SenaHill Securities, LLC (the "Company"), is a limited liability company. The Company is a wholly-owned subsidiary of SenaHill Advisors, LLC (the "Parent"). The Company is registered with the Securities and Exchange Commission ("SEC") and is a member of the Financial Industry Regulatory Authority. The Company provides private placement of securities and other securities services. ### **Note 2** - **Summary of significant accounting policies** ### Basis of accounting and use of estimates These financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP") which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. ### Contract Assets and Contract Liabilities The Company had no contract assets at January 1, 2020 and December 31 , 2020 respectively. As of January 1, 2020, aside from the receivable from its affiliate, the accounts receivable balance was \$0 and at December 31, 2020, the balance was \$48,099. The Company had no contract liabilities at January I, 2020 and December 31, 2020 respectively. #### Income taxes The Company is a single member limited liability company for federal, state, and local income tax purposes. As such, it is a disregarded entity for tax purposes and does not pay any taxes, which are borne primarily by the individual owners of its Parent. The Company does not reflect any taxes in its financial statements. The Company's income or loss is taken into consideration in the tax returns of its Parent's owners. Management has determined that the Company had no uncertain tax positions that would require financial statement recognition. This determination will be subject to ongoing reevaluation as facts and circumstances may require. #### **Note 3** - **Compliance with Rule 15c3-3** The Company does not handle cash or securities on behalf of customers and accordingly has no obligation under SEC Rule 15c3-3. #### **Note 4** - **Concentrations** The Company maintains its cash balance at one financial institution. The Company does not consider itself to be at risk with respect to its cash balance. The Company earned 87% of its revenues from three customers. {7}------------------------------------------------ ## **SENAfilLL SECURITIES LLC** # **NOTES TO FINANCIAL STATEMENT DECEMBER 31, 2020** #### **Note 5** - **Regulatory requirements** The Company is subject to the SEC Uniform Net Capital Rule (Rule I 5c3- I), which requires the maintenance of minimum net capital and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to I. At December 3 I, 2020, the Company had net capital of approximately \$325,000 which was approximately \$275,000 in excess of its required net capital of \$50,000. # **Note 6- Related party transactions** Pursuant to a service agreement, affiliates of the Company provide various services and other operating assistance to the Company. The agreement provides for professional services, compliance, legal fees and other operating expenses. The total amount borne by the affiliates under this agreement was approximately \$925,000 for the year ended December 31 , 2020. The agreement has a term of one year and is automatically renewed annually, unless terminated or modified by written notice. The Company has a \$ 20,000 receivable from its affiliate as of December 3 1, 2020. ### **Note** 7 - **COVID-19** During the 2020 calendar year, the World Health Organization has declared COVID- 19 to constitute a "Public Health Emergency of International Concern". This pandemic has disrupted economic markets and the economic impact, duration and spread of the COVID-19 virus is uncertain at this time. The financial performance of the Company is subject to future developments related to the COVID-19 outbreak and possible government advisories and restrictions placed on the financial markets and business activities. The impact on financial markets and the overall economy, all of which are highly uncertain, cannot be predicted. If the financial markets and/or the overall economy are impacted for an extended period the Company's results may be materially affected. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.