# TRAILMARK INC. X-17A-5 (2025-04-01) — Broker-dealer annual report - Company: TRAILMARK INC. - Form: X-17A-5 - Filed: 2025-04-01 - Period: 2024-12-31 - Accession: 0001123374-25-000001 - CIK: 1123374 - File #: 8-52864 - Type: Broker-dealer - Material weakness: No - Auditor: AGL CPA Group LLC - Auditor location: Duluth, GA - Contact: BRUCE WILLIAMSON - Phone: 4049005501 - Email: bwilliamson@trailmark.com - Website: trailmark.com - Signed by: BRUCE WILLIAMSON (CCO) Original filing: https://www.sec.gov/Archives/edgar/data/1123374/000112337425000001/Trailmark2024FSPublic.pdf --- {0}------------------------------------------------ # FINANCIAL STATEMENTS AND SUPPLEMENTAL INFORMATION For the Year Ended December 31, 2024 {1}------------------------------------------------ | | UBLIC | | |--|-------|--| | | | | UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 > ANNUAL REPORTS FORM X-17A-5 PART III OMB APPROVAL OMB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 > SEC FILE NUMBER 8-52864 FACING PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 AND ENDING 12/31/24 FILING FOR THE PERIOD BEGINNING 01/01/24 MM/DD/YY MM/DD/YY A. REGISTRANT IDENTIFICATION NAME OF FIRM: Trailmark Inc. TYPE OF REGISTRANT (check all applicable boxes): [ Security-based swap dealer @ Major security-based swap participant Broker-dealer Check here if respondent is also an OTC derivatives dealer ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) 3355 Lenox RD NE STE 805 (No. and Street) GA Atlanta 30326 (City) (State) (Zip Code) PERSON TO CONTACT WITH REGARD TO THIS FILING Bruce Williamson 404-900-5501 bwilliamson@trailmark.com (Area Code - Telephone Number) (Name) (Email Address) B. ACCOUNTANT IDENTIFICATION INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing\* AGL CPA Group, LLC (Name - if individual, state last, first, and middle name) 1870 Buford Hwy STE 100 Duluth GA 30027 (Address) (State) (City) (Zip Code) 05/19/2009 3488 (Date of Registration with PCAOB)(if applicable) (PCAOB Registration Number, 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 CFR 240.17a-5(e)(1)(ii), if applicable. 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. {2}------------------------------------------------ #### OATH OR AFFIRMATION | financial report pertaining to the firm of Trailmark Inc.
as of | |-------------------------------------------------------------------------------------------------------------------------------------| | 12/31
2 024 is true and correct. I further swear (or affirm) that neither the company nor any | | partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely | | as that of a customer. | | Digitally signed by Bruce A. Williamson | | Bruce A.
Signature:
ON: cn" Bruce A. Williamson, on Trailmark
Williamson | | Gate: 2025 03 31 23 12 53 -04 00 | | litle: | | CFO | | | | Nøtary 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). | | (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. | | (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or | | Exhibit A to 17 CFR 240.18a-4, as applicable. | | [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. | | [0] Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capible 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 | | CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences | | exist. | | [p) Summary of financial data for subsidiaries not consolidated 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. | | [ (u) Independent public accountant's report based on an examination of the financial statements under 17 | | CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. | | J (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 | | CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. | | (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. Cl (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.17a-12, as applicable. - □ (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: - \*\*To request confidential treatment of certain portions of this filing, see 17 CFR 240.170-5(e)(3), as applicable. {3}------------------------------------------------ # TABLE OF CONTENTS | Report of Independent Registered Public Accounting Firm | 1 | |---------------------------------------------------------|-------| | Financial Statements - Confidential | | | Statement of Financial Condition | 2 | | Notes to Financial Statements | 3 - 6 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Members Trailmark, Inc. #### Opinion on the Financial Statements We have audited the accompanying statement of financial condition of Trailmark, Inc. as of December 31, 2024, the related statements of income and members' capital, and cash flows for the year then ended, and the related notes and schedules (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of Trailmark. Inc. as of December 31, 2024, and the results of its operations and its cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America. ### Basis for Opinion These financial statements are the responsibility of Trailmark, Inc.'s management. Our responsibility is to express an opinion on Trailmark, Inc.'s financial statements 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 Trailmark, Inc. in accordance with the U.S. federal securities laws 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 statements are free of material misstatement, whether due to error or fraud. Our audit included performing procedures to assess the risks of material misstatements, 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 statements. 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 statements. We believe that our audit provides a reasonable basis for our opinion. #### Auditor's Report on Supplemental Information The computation of net capital under Rule 15c3-1 of the Securities and Exchange Commission, the computation for determination of reserve requirements under Rule 15c3-3 of the Securities and Exchange Commission, and the information relating to the possession or control requirements under Rule 15c3-3 of the Securities and Exchange Commission (collectively, the "Schedules") has been subjected to audit procedures performed in conjunction with the audit of Trailmark, Inc.'s financial statements. The supplemental information is the responsibility of Trailmark, Inc.'s management. Our audit procedures included determining whether the supplemental information reconciles to the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with 17 C.F.R. §240.17a -5. In our opinion, the Schedules are fairly stated, in all material respects, in relation to the financial statements as a whole. AGL CPA Graup, LL We have served as Trailmark, Inc.'s auditor since 2024. Duluth, Georgia March 28, 2025 {5}------------------------------------------------ # Statement of Financial Condition December 31, 2024 | ASSETS | | |-------------------------------|--------------| | CURRENT ASSETS | | | Cash | \$ 1,697,256 | | Accounts receivable | 1,875 | | Prepaid expenses and deposits | 55,475 | | Total current assets | 1,754,606 | | OTHER ASSETS | | | Property and equipment, net | 19,506 | | Right of use asset | 92,915 | | Total other assets | 112,421 | | Total assets | \$ 1,867,027 | #### LIABILITIES AND STOCKHOLDERS' EQUITY #### CURRENT LIABILITIES | Accounts payable and accrued expenses | \$
31,499 | |----------------------------------------------------------|--------------| | Payroll liabilities | 196,329 | | Current portion of operting lease liabilities | 29,247 | | Accrued retirment contribution | 132,082 | | Total liabilities | 389,157 | | LONG TERM LIABILITIES | | | Operating lease liabilities, net of current portion | 108,791 | | STOCKHOLDERS' EQUITY: | | | Common stock, \$.01 par value, 10,000 shares authorized, | | | 2,600 shares issued and outstanding | 26 | | Paid-in capital in excess of par | 25,974 | | Retained earnings | 1,343,079 | | Total Stockholders' Equity | 1,369,079 | | Total Liabilities and Stockholders' Equity | \$ 1,867,027 | See accompanying notes to the financial statements {6}------------------------------------------------ # NOTES TO FINANCIAL STATEMENTS For the year ended December 31, 2024 # NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES {7}------------------------------------------------ # TRAILMARK, INC. NOTES TO FINANCIAL STATEMENTS For the year ended December 31, 2024 # NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Accounts receivable - Accounts receivable primarily consist of amounts due from customers, brokerdealers, and other counterparties arising from the Company's broker-dealer activities. These receivables are recorded at their invoiced amounts and are stated net of an allowance for credit losses, if applicable. The Company does not extend margin loans and does not engage in clearing or issuing activities. ## Current Expected Credit Loss (CECL) Methodology The Company measures expected credit losses on accounts receivable using the Current Expected Credit Loss (CECL) model in accordance with ASC 326, Financial Instruments - Credit Losses. The allowance for credit losses is based on a historical loss rate analysis, adjusted for current conditions and reasonable and supportable forecasts. Management evaluates credit risk using both quantitative factors, including: - · Historical loss experience for similar receivables, - · The financial condition of counterparties, - · Aging of outstanding balances, and - · Macroeconomic conditions that may impact collectability. Receivables are written off when deemed uncollectible, typically after all collection efforts have been exhausted. As of December 31, 2024, the Company recorded an allowance for credit losses of \$-0-, and total accounts receivable, net of the allowance, was \$1,875. Management believes the allowance for credit losses is adequate to cover expected losses based on currently available information. However, actual losses may differ from estimated amounts. There was no activity related to the allowance during the year ended December 31, 2024. Property and equipment - Furniture, fixtures, and equipment are depreciated on a straight-line basis over fiveyear estimated useful lives. # NOTE 2 - COMMITMENTS AND CONTINGENCIES Trailmark is a claimant in an arbitration against a former client. Arbitration proceedings were bifurcated into liability and damages phases. Following discovery and a 2022 hearing on liability, the arbitrator ruled for Trailmark across-the-board on liability and rejected the former client's counterclaim for breach of contract. The damages phase hearing was held in early 2025, and the parties are currently awaiting the arbitrator's decision on the amount of damages owed to Trailmark by the former client. {8}------------------------------------------------ # NOTES TO FINANCIAL STATEMENTS For the year ended December 31, 2024 | Improvements | \$ 16,862 | |-------------------------------|-----------| | Furniture | 2,251 | | Computers | 4,330 | | Office equipment | 10,689 | | | 34,132 | | Less accumulated depreciation | 14,626 | | Property and equipment, net | \$ 19,506 | | 2025 | S
29.247 | |-------------------------------------|-------------| | 2026 | 30, 129 | | 2027 | 31,035 | | 2028 | 31.964 | | 2029 | 30,138 | | | 152.513 | | less present value discount: | (14,945) | | ase liability at December 31, 2024: | 137,568 | {9}------------------------------------------------ # NOTES TO FINANCIAL STATEMENTS # For the year ended December 31, 2024 # NOTE 5-PENSION PLAN The Company established a retirement plan during the year ended December 31, 2013 to replace the former Simplified Employee Pension plan (SEP) covering eligible employees. Company contributions to the plan are determined annually and are made at the discretion of the Board of Directors. Employees do not make contributions into the plan. For the year ended December 31, 2024, the Company contributed \$132,082 to the plan and is included in expenses in the statement of operations. # NOTE 6 - NET CAPITAL REQUIREMENTS As a registered broker-dealer, the Company is subject to the Securities and Exchange Commission Uniform Net Capital Rule 15c3-1. The rule states, in part, that a broker or dealer that does not receive, directly or indirectly, or hold funds or securities for, or owe funds or securities to, customers and does not carry accounts of, or for, customers is required to maintain a minimum net capital of 6-2/3% of aggregate indebtedness, or \$5,000, whichever is greatest. As of December 31, 2024, the Company has net capital of \$1,275,766 which exceeds its minimum of \$24,006 by \$1,251,760. Pursuant to SEC Rule 17a-5, paragraph (d)(4), the net capital computation contained in this annual audit report for the period ending December 31, 2024 does not differ materially from the net capital computation contained in the firm's unaudited FOCUS Report IIA for the period ending December 31, 2024. Consequently, a reconciliation was not required and is therefore not including herein. # NOTE 7-CONCENTRATIONS OF CREDIT RISK The Company maintains cash balances at banks and other financial institutions. Accounts at banks and institutions are insured by the Federal Deposit Insurance Corporation (FDIC) up to certain limits. The Company's cash deposits exceeded the insured amounts by approximately \$1,197,256 as of December 31, 2024. During the year ended December 31, 2024, approximately 72 % of the revenues were derived from three customers. # NOTE 8-RELATED PARTY TRANSACTIONS The Company entered into an agreement with Trailmark Group Ltd (f/k/a Fortress Placement Services (UK) Ltd) on January 1, 2014 to share in the use of certain individuals and resources, as well as the revenue earned by the respective companies using the shared resources. The agreement was amended on April 1, 2024. During the year ended December 31, 2024, the Company recorded approximately \$413,752 in salary reimbursements and \$24,000 in database royalty fees from Trailmark Group Ltd. The Company and Trailmark Group Ltd share common ownership. # NOTE 9-SUBSEQUENT EVENTS The Company has evaluated subsequent events through the date and time the financial statements were issued. The company has determined there are no subsequent events that require disclosure. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.