# CAROLINA SECURITIES, INC. X-17A-5 (2021-02-18) — Broker-dealer annual report - Company: CAROLINA SECURITIES, INC. - Form: X-17A-5 - Filed: 2021-02-18 - Period: 2020-12-31 - Accession: 0001035474-21-000002 - CIK: 1035474 - File #: 8-50043 - Material weakness: No - Auditor: OHAB AND COMPANY, PA - Auditor location: MAITLAND, FL - Contact: Andrew Burch - Phone: 919-349-8332 - Signed by: ANDREW BURCH (PRESIDENT) Original filing: https://www.sec.gov/Archives/edgar/data/1035474/000103547421000002/carolinasecpublic.pdf --- {0}------------------------------------------------ ## PUBLIC UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ### ANNUAL AUDITED REPORT FORM X-17A-5 PART III | QMB APPROVAL | | | | | | |---------------------------------|--|--|--|--|--| | QMB Number.
3235-0123 | | | | | | | Expires:
October 31, 2023 | | | | | | | Estimated average burden | | | | | | | . 12.00
hours per response | | | | | | | | SEC FILE NUMBER | | | | | |---------|-----------------|--|--|--|--| | 8-50043 | | | | | | FACING PAGE Information Required of Brokers and Dealers Pursuant to Section 17 of the Securities Exchange Act of 1934 and Rule 17a-5 Thereunder | MM/DD/YY
MM/DD/YY
A. REGISTRANT IDENTIFICATION
CAROLINA SECURITIES, INC.
NAME OF BROKER DEALER:
OFFICAL USE ONLY
ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O. Box No.)
FIRM ID. NO.
1506 SANTA LUCIA STREET
(No. and Street)
NC
WAKE FOREST
27587
(City)
(State)
(Zip Code)
NAME AND TELEPHONE NUMBER OF PERSON TO CONTACT IN REGARD TO THIS REPORT
919-349-8332
ANDREW BURCH
(Area Code - Telephone No.) | | | | | | | | | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|--|--|--|--|--|--|--| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | B. ACCOUNTANT DESIGNATION | | | | | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose opinion is contained in this Report* | | | | | | | | | | OHAB AND COMPANY, PA | | | | | | | | | | (Name - if individual, state last, first, middle name) | | | | | | | | | | 100 E. SYBELIA AVENUE, SUITE 130, MAITLAND
FLORIDA
32751 | | | | | | | | | | (Address and City)
(Zip Code)
(State) | | | | | | | | | | CHECK ONE:
& Certified Public Accountant | | | | | | | | | | Public Accountant
Accountant not resident in United States or any of its possessions | | | | | | | | | | FOR OFFICIAL USE ONLY | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \*Claims for exemption from the regnitement that the annual andit be covered by the opinion of an independent public accountance must be supported by a statement of facts and circumstances relied in as the basis for the exemption. See section 240. 17a-5(e)[2] > Potential persons who are to respond to the collection of information contained in this form are required to respond unless the form displays a current valid OMB control number SEC 1410 (11-05) {1}------------------------------------------------ ### OATH OR AFFIRMATION | 1 | ANDREW BURCH | | , swear (or affirm) that, to the | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------|---------------------------|------------------------------------------------------------------------------------------------------------------------------------------| | best of my knowledge and belief the accompanying financial statement and supporting schedules pertaining to the firm or | | | | | DECEMBER
nor any partner, proprietor, principal officer of director has any proprietary interest in any account classified solely as that of
a customer, except as follows: | | CAROLINA SECURITIES, INC. | , as of
31, 2020 are true and correct. I further swear (or affirm) that neither the company | | Public Notary
This report** contains (check all applicable(boxes);
(a) Facing page.
(b) Statement of Financial Condition.
(c) Statement of Income (Loss) or, if there is other in the period(s) presented, a Statement of Comprehensive
Income (as defined in \$210.1-02 of Regulation S-X).
(d) Statement of Changes in Financial Condition.
(e) Statement of Changes in Stockholders' Equity or Partners' or Sole Proprietor's Capital.
(f) Statement of changes in Liabilities Subordinated to Claims of Creditors.
(g) Computation of Net Capital.
(h) Computation for Determination of Reserve Requirements Pursuant to Rule 15e3-3.
(i) Information Relating to the Possession or control Requirements Under Rule 15c3-3.
(i) A Reconciliation, including approphiation of the Computation of Net Capital Under Rule 15c3-1 and the
Computation for Determination of the Reserve Requirements Under Exhibit A of Rule 15c3-3.
(k) A Reconciliation between the audited and unaudited Statements of Financial Condition with respect to methods of con-
solidation.
X (1) An Oath or Affirmation.
(m) A copy of the SIPC Supplemental Report.
(1) A report describing any material inadequacies found to have existed since the date of the previous andit. | | | Signature
PRESIDENT
Tifle
TREVAR URQUHART
NOTARY PUBLIC
WAKE COUNTY
NORTH CAROLINA
MY COMMISSION EXPIRES 11/27/2023 | | ** For conditions of confidential treatment'sf certain portions of this filling, see section 240.17a-5(e)(3). | | | | | | | | | {2}------------------------------------------------ # **PUBLIC COPY** ## **Carolina Securities, Inc.** FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2020 AND INDEPENDENT AUDITORS' REPORT {3}------------------------------------------------ ## **Carolina Securities, Inc.** #### **STATEMENT OF FINANCIAL CONDITION DECEMBER** 31, **2020** ### **ASSETS** | CURRENT ASSETS: | | | |------------------------------------------------------------------------------------------------|------|--------| | Cash | \$ | 9,617 | | Property and equipment, at cost, less accumulated
depreciation and amortization of \$548.48 | | 480 | | Prepaid expenses | | 1,440 | | Total current assets | I | 11,537 | | TOTAL | I \$ | 11,537 | ## **LIABILITIES AND STOCKHOLDER'S EQUITY** | Accounts payable and accrued expenses | \$ | 1,554 | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------|---------------------------| | Total current liabilities | I | 1,554 | | STOCKHOLDER'S EQUITY
Common stock, \$0.01 par value; 100,000 shares authorized,
200 shares issued and outstanding
Additional paid-in capital
Accumulated deficit | | 2
130,633
(120,652) | | Total stockholder's equity | I | 9,983 | | TOTAL | I \$ | 11,537 | See Independent Auditors' Report and Notes to Financial Statements. {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) 100 E. Sybelia Ave. Suire 130 Maitland, FL 32751 *Certified Public Acco1111/a11t.r* Email: pamtaoh:ibco.com Telephone: 407· 740- 7311 Fax 407· 740-6441 #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Stockholders' of Carolina Securities, Inc. #### Opinion on the Financial Statements *'Ne* have audited the accompanying statement of financial condition of Carolina Securities, Inc. as of December 31, 2020, the related statements of operations, changes In stockholder's equity, and cash flows for the year then end�d. and the related notes and schedules (coflec:tlvely referred to as the "11nancial statements"). In our opinion, the financial statements present fairly, In all material respects, the fh1ancial position of Carolina Securities, Inc. as of Oecamber 31, 2020, and tM results of Its operanons and its ca�h flows for the year then ended in conlorrnlty wltt1 accounting principles ga11erally accepted In the United States of America. #### Sasls for Opinion TMsc9 flMnclal statements are tM responsibility of Catoll11a Securities, IM.':3 management. Our responsibility Is to exprQsS an opinion on Carolina Securitieg, lnc.'s flr1anclal Btarnmerits based on our audit. Wif1 are a public accounting firm reglsterad wit11 the Public Company Ace�untlng Oversight Soard (United states) (PCAOB) and are r;quired to ba lnd�pend�l1t with raspect to C1:1rollr1a Seeurltias, Inc. In accordance with !he U.S. f©dEJml sMuritl�s l�w!3 Md the applicaol� rules and rsgulatloM *(}1* tM S�curitl�a and i:xchangQ Commission and the PCAOB. *\N(j* condur.Jted our audit In aeeoreanes with tM stai,d�fdl! of th� F'CAOID, Thost! stand1ud� requlr; that wa plan ar1d *p*�*tfofm* tM audit to obtain reasonable as�urane� about whatliE?r th; flr1anclal st�tern{lnt� *ata* tram of m�t!arlal migim.Hl}rl'isi'lt, wh�ther due to €ltrnr or ftaua. OlJt audit inciudad pGrlormlna prom1dutes to asMs� the ri�I<§ of mat�tial mls�tat;;;mQrtt of tlia flnanelal stammei'lt3, whetMr duei to �m1r er fraud, Md perlt,ri'l'ling proi;;eciurns that rn�p0nd to tMse rl!il&lt;s, Such proeiadutl3s iMluded examining, m, § tf}§t ba!ll�. evidm,a§ t@gardlng the amountt:l and ciistlll}sures in the finaMlal �tatements. *out* �udlt �ltw ine1uded evalufitlf\Q Hie i\ecauntlng prfMiplms lltiled �rnd sig,,11iea1H •Mtlmati!ls made oy mat1agement1 as well M evoluatiflg the t}Verall pr�sonmtlon gf the flnanoial statl§mMtg, Wa b�li�v§ tht1t *our* audit provide§ a teME)M�I§ b�sls *(gr* our opiniM. #### AudHot'& Pt'1f)�rt on supfJi!m@ntal lnft5tmatiOn fl'ls �el9§dulas I and ii hav§ been subjected t@ autHt prgeeciurns µeffmm@d ln oofiJum:tlon with tiie E1.ualt eii Car(:}IIM �et1urlti§s1 ina.1s ilnaMial staternerus. fhe §Upfilemsmal inf�rmauan la the @;pMsibility of 013rnliM §ef;Uritis§1 IM,'s mfi.A§.�effienL Out auGJ,t pra�eau,'@§ IM1udeci �etetmining wMther th@ suppleiY1Mliftl lflfgrm�titm re@�ni;il�s to the tinanalal sfatsments E>r the und�riying aMa�nHfiij \_ana oilier reatm1s, .as ap�li�able; and peffarffllng pro(ledLlres to rnst the eompletetiess a.M aaaura�y �r the it'Hofffi�t1©n presented in the sblpplerriental iittermatlt5tt In forming our aplnit:ln an tlie sU[j�lementai lnfofma!ion, we eva.fwatecl whstfler !l'is sup�lernentai intarmaJia111 ii,oiutiln� ,rn fl3ffrl and tlofltenl, is presented in s§nfermltl/ wim 1 "/ C.F1Jt §;;14tl 11a,5, iii eur t1�inla,1i Uie §oneduies I afla II are tair=iy stateEi, m all matefial fespest§, iri reia!loo ta tf1e flnaii6ia1 statements as a wMle. ## IY'�#Jr *f#--tfl:* ��*-\*1}* I � *p* *\Na* hava§er/@� as Oar@Hna setJLlrities, In@, 's aucmaf sinoe 201 e, Mailland, PiorWa F?eBfUarY Hi, �a21 {5}------------------------------------------------ ![](_page_5_Picture_0.jpeg) 100 E. Sybelia Ave. Suite 130 Maitland, FL 32751 Certified Public Accountants Email: pamla 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 Carolina Securities, Inc. #### Opinion on the Financial Statement We have audited the accompanying statement of financial condition of Carolina Securities, Inc. 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 Carolina Securities, Inc. as of Decəmber 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 Carolina Securities, inc.'s management. Our responsibility is to express an opinion on Carolina Securities, inc.'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 Carolina Securities, inc. in accordance with the U.S. tederal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAGE. We conducted our audit in accordance with the standards of the PCACB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the free of material misstationent, whether due to error of fraud. Our audit included performing procedures to assass the risks of material misstatement of the financial statement, whether due to error or fraud, and performing procedures that respond to these riska. Such procedures included examining, on a tost basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included avaluating the accounting principles used and significant estimates made by management, as well as everall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion. We have served as Carolina Securities, Inc.'s auditor since 2018. Maitland, Florida February 10, 2021 Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.