# SILVERWOOD PARTNERS LLC X-17A-5 (2025-02-27) — Broker-dealer annual report - Company: SILVERWOOD PARTNERS LLC - Form: X-17A-5 - Filed: 2025-02-27 - Period: 2024-12-31 - Accession: 0001146098-25-000001 - CIK: 1146098 - File #: 8-53495 - Type: Broker-dealer - Material weakness: No - Auditor: Assurance Dimensions, LLC - Auditor location: Coral Springs, FL - Contact: Jonathan Hodson Walker - Phone: 508-651-2194 - Website: assurancedimensions.com - Signed by: Jonathan Hodson-Walker (Managing Partner) Original filing: https://www.sec.gov/Archives/edgar/data/1146098/000114609825000001/publicsp.pdf --- {0}------------------------------------------------ #### SILVERWOOD PARTNERS LLC SEC FILE NO: 8-53495 FINANCIAL STATEMENTS AND SUPPLEMENTAL INFORMATION FOR THE YEAR ENDED DECEMBER 31, 2024 FILED IN ACCORDANCE WITH RULE 17a-5(e)(3) AS A PUBLIC DOCUMENT {1}------------------------------------------------ #### FINANCIAL STATEMENTS AND SUPPLEMENTAL INFORMATION #### DECEMBER 31, 2024 ## TABLE OF CONTENTS | Facing Page | 1 | |---------------------------------------------------------|-----| | Oath or Affirmation | 2 | | Report of Independent Registered Public Accounting Firm | 3-4 | | Financial Statements | | | Statement of Financial Condition | 5 | | Notes to Financial Statements | 6-9 | {2}------------------------------------------------ #### **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** 0MB APPROVAL 0MB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 # **ANNUAL REPORTS FORM X-17 A-5 PART Ill** SEC FILE NUMBER 8-53495 **FACING PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934** FILING FOR THE PERIOD BEGINNING \_\_\_ 1 \_ 1 \_ 11\_ 2 \_ 02 \_ 4 \_\_\_ AND ENDING \_\_\_ 1 \_ 21\_ 3 \_ 1 \_ 12\_ 0 \_ 24 \_\_ \_ MM/DD/YY MM/DD/YY **A. REGISTRANT IDENTIFICATION** NAME OF FIRM: Silverwood Partners, LLC TYPE OF REGISTRANT (check all applicable boxes): ~ Broker-dealer D Security-based swap dealer D Major security-based swap participant □ Check here if respondent is also an OTC derivatives dealer ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) 32 Pleasant Street Sherborn (City) (No. and Street) MA (State) PERSON TO CONTACT WITH REGARD TO THIS FILING 01170 (Zip Code) Jonathan Hodson-Walker 508-651-2194 j hw@si lverwood partners .com (Name) (Area Code -Telephone Number) (Email Address) **B. ACCOUNTANT IDENTIFICATION** INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing\* Assurance Dimensions, LLC (Name - if individual, state last, first, and middle name) 3111 N University Drive, Suite 621 Coral Springs Florida (Address) (City) (State) April 10, 2010 5036 **FOR OFFICIAL USE ONLY** 33065 (Zip Code) \* Claims for exemption from the requirement that the annual reports be covered by the 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-S(e)(l)(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 0MB control number.** {3}------------------------------------------------ #### **OATH OR AFFIRMATION** I, Jonathan Hodson-Walker swear (or affirm) t hat, to the best of my knowledge and belief, the financial report pertaining to the firm of Silverwood Partners, LLC as of December 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. **1::-, ELAINE MURRA y** ® **Notary Public Common-Ith of MassachuHtts My Commluion Expire,** e ~\~ **September 29, 2028** ' ~-;-·•-·:~ •. Notary Public ~ #### **This filing\*\* contains (check all applicable boxes):** ::'~-~ :~-, : '.~' •· - - **i2I** (a) Statement of financial condition. :: , .... ~~-=--- ...:..•:--: - D (b) Notes to consolidated statement of financial cond ition. , .\_--~ - **i2I** (c) Statement of income (loss) or. if there is other comprehensive income in the period(s) presented, a s~t~in.e t of \_ "'. .\_":.., comprehensive income (as defined in§ 210.1-02 of Regulation S-X). ..• • <, ;.'' - **i2I** (d) Statement of cash flows. • , - **i2I** (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - D (f) Statement of changes in liabilities subordinated to claims of creditors. - **i2I** (g) Notes to consolidated financial statements. - **i2I** (h} Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. - D (i} Computation of tangible net worth under 17 CFR 240.18a-2. - **i2I** (j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - D {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. - D (I) Computation for Determination of PAB Requirements under Exhibit A to§ 240.15c3-3. - **i2I** (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - D (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. - i2I (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-1, 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. - D (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - **i2I** {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. - D {r} Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - **i2I** (s} Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7. as applicable. - D (t) Independent public accountant's report based on an examination of the statement of financial condition. - **121**(u) Independent public accountant's report based on an examination of the financia l report or financial statements under 17 CFR 240.17a-S. 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - D (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. - **i2I** (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. - D (x} Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-le or 17 CFR 240.17a-12. as applicable. - D (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). D (z) Other: \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ \_ - - \*\*To request confidential treatment of certain portions of this filing, see 17 CFR 240.1 7a-S(e){3) or 17 CFR 240.18a-7(d)(2), as applicable. {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Members of **Silverwood Partners, LLC** #### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of **Silverwood Partners, LLC** as of December 31, 2024, 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 **Silverwood Partners, LLC** as of December 31, 2024, in conformity with accounting principles generally accepted in the United States of America. #### **Basis for Opinion** This financial statement is the responsibility of **Silverwood Partners, LLC's** management. Our responsibility is to express an opinion on **Silverwood Partners, LLC'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 **Silverwood Partners, LLC** in accordance with the U.S. federal securities laws and the applicable rules and regulations of the U.S. Securities and Exchange Commission ("SEC") 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. \Ve believe that our audit provides a reasonable basis for our opinion. Assurance Dimensions We have served as **Silverwood Partners, LLC** auditor since 2019. Coral Springs, Florida February 27, 2025 > **ASSURANCE DIMENSIONS, LLC also d/b/a McNAMARA and ASSOCIATES, LLC TAMPA BAY:** 4920 **W** Cypress Street, Suite 102 I Tampa, FL 33607 I Office: 813.443.5048 I Fax: 813.443.5053 **JACKSONVILLE:** 7800 Belfort Parkway, Suite 290 I Jacksonville, FL 32256 I Office: 888.410.2323 I Fax: 813.443.5053 **ORLANDO:** 1800 Pembrook Drive, Suite 300 I Orlando, FL 32810 I Office: 888.410.2323 I Fax: 813.443.5053 **SOUTH FLORIDA:** 3111 N. University Drive, Suite 621 I Coral Springs, FL 33065 I Office: 754.800.3400 I Fax: 813.443.5053 www.assurancedimensions.com "Assurance Dimensions" is the brand name under which Assurance Dimensions, LLC including its subsidiary McNamara and Associates, LLC (referred together as "AD LLC") and AD Advisors, LLC ("AD Advisors"), provide professional services. AD LLC and AD Advisors practice as an alternative practice structure in accordance with t he AICPA Code of Professional Conduct and applicable laws, regulations, and professional standards. AD LLC is a licensed independent CPA firm that provides attest services to its clients, and AD Advisors provide tax and business consulting services to their clients. AD Advisors, and its subsidiary entities are not licensed CPA firms. {5}------------------------------------------------ ## STATEMENT OF FINANCIAL CONDITION ## DECEMBER 31, 2024 ## ASSETS | ASSETS
Cash | \$
263,138 | |-----------------------------|---------------| | TOTAL CURRENT ASSETS | 263,138 | | Property and equipment, net | 2,475 | | TOT AL ASSETS | \$
265,613 | | | | ## LIABILITIES AND MEMBERS' EQUITY | CURRENT LIABILITIES
Accounts payable and accrued expenses
Due to a related party | \$
78,587
21,719 | |----------------------------------------------------------------------------------------|------------------------| | TOTAL LIABILITIES | 100,306 | | MEMBERS' EQUITY | 165,307 | | TOTAL LIABILITIES AND MEMBERS' EQUITY | \$
265,613 | {6}------------------------------------------------ #### NOTES TO FINANCIAL STATEMENTS ## DECEMBER 31, 2024 #### Note 1 - Organization Silverwood Partners LLC, (the "Company"), located in Sherborn, Massachusetts, provides investment banking services to both public and privately held companies worldwide but primarily in the United States. The Company is a broker/dealer registered with the U.S. Securities and Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA). The Company does not carry security accounts for clients or perform custodial functions related to client securities. The Company is a limited liability company and shall have perpetual existence until it is dissolved, and its affairs are wrapped up in accordance with its operating agreement. #### Note 2 - Summary of Significant Accounting Policies #### (a) Segment Reporting On January 1, 2024, the Company adopted ASU 2023-07 - Segment Reporting, for improved disclosure regarding reportable segments. The Company's Chief Operating Decision Maker ("CODM") is solely the Managing Partner and Managing Member. Due to the similarities and related nature of the broker-dealer's products, the CODM aggregates and evaluates the broker-dealer's mergers and acquisitions advice, and private placement of securities advice, as a single reporting segment under the umbrella of financial products. The metrics used by the CODM to assess the performance of the Company's operating activities include revenue, net income, and cash flows from operations. The key metrics are utilized to guide decision making regarding risk assessment, cost management, and forecasting future results. The Company's products, under a single business segment, investment banking, have similar economic characteristics and are expected to have similar economic characteristics and long-term financial performance in future periods. (b) Basis of Preparation and Use of Estimates The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the U.S ("GAAP") as determined by the Financial Accounting Standards Board ("FASB") as contained in the Accounting Standards Codification ("ASC"). The preparation of financial statements in conformity with GAAP 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 reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. (c) Credit Risk At certain times, the Company maintains cash balances in excess of \$250,000 in a financial institution. The Federal Deposit Insurance Corporation (FDIC") insures up to \$250,000 for each depositor. The Company has not experienced any losses in such {7}------------------------------------------------ ## NOTES TO FINANCIAL STATEMENTS ## DECEMBER 31, 2024 ## Note 2 - Summary of Significant Accounting Policies (continued) ## (c) Credit Risk accounts and does not believe they are exposed to any significant credit risks. The Company had \$0 of cash in excess of the FDIC limit at December 31, 2024. #### (d) Accounts Receivable and Allowance for Credit Losses On January 1, 2024, the Company adopted ASU 2016-13 Financial Instruments- Credit Losses (ASC Topic 326): Measurement of Credit Losses on Financial Instruments (ASC Topic 326). This standard replaced the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss ("CECL") methodology. CECL requires an estimate of credit losses for the remaining estimated life of the financial asset using historical experience, current conditions, and reasonable and supportable forecasts and generally applies to financial assets measured at amortized cost, including loan receivables and held-to-maturity debt securities, and some off-balance sheet credit exposures such as unfunded commitments to extend credit. Financial assets measured at amortized cost will be presented at the net amount expected to be collected by using an allowance for credit losses. The Company carries its accounts receivable at amounts invoiced for services less a provision for credit losses, if necessary. Accounts receivable balances are written off after it is evident that collection efforts have little or no chance of immediate success. The Company charges interest on certain past-due accounts receivable and the related interest income is recorded when received. The Company did not record interest income on its past due accounts during 2024. During the year the Company had credit losses of \$0 and had written off \$525,791 in uncollectible accounts receivable. The Company had \$0 in accounts receivable net of the \$0 in recorded allowance for credit losses. #### (e) Property and Equipment Property and equipment are recorded at cost. Depreciation is provided using accelerated and straight-line methods over the estimated useful lives of the respective assets or lease term, if shorter. Maintenance and repairs are charged to expense as incurred; major renewals and betterments are capitalized. #### (f) Leases The Company accounts for Leases under Accounting Standards Update ("ASU") No. 2016-02, Leases ("ASC 842") which requires the Company to recognize a right-of-use asset and liability on the balance sheet for all leases, with the exception of short-term leases. The lease liability will be equal to the present value of lease payments and the right-of-use asset will be based on the lease liability. Accounting for the new standard did not have a material impact on the Company's net income, financial position, and cash flows. The Company does not have any leases which meet the criteria. {8}------------------------------------------------ ## NOTES TO FINANCIAL STATEMENTS ## DECEMBER 31, 2024 ### Note 3 - Revenue from Contracts with Customers The Company did not have any contract assets or contract liabilities as of December 31, 2024. The movement in the Company's receivables for the year ended December 31, 2024, are as follows: | Balance at January 1, 2024 | \$
111,904 | |-----------------------------------|---------------| | Net change on receivable balances | 413,887 | | Less: bad debt expense | (525,791) | | Balance at December 31
, 2024 | \$ | ## Note 4 - Property and Equipment, Net | Land improvements | \$13,500
13,500 | |-------------------------------|--------------------| | Less accumulated depreciation | ,025)
(11 | | Propert and equipment, net | \$ 2,475 | Depreciation expense was \$900 for the year- ended December 31, 2024 ### Note 5 - Related Party Transactions The Company leases its office from an individual related to the Company's majority member under a non-cancelable operating lease expiring on March 30, 2025. The lease provides for monthly payments of \$9,000 and requires the Company to pay real estate taxes and certain other operating expenses. The lease is for a duration of one year. Because of the one-year lease, Accounting For Leases does not apply. Also, the Company has a license agreement for certain intellectual property with its majority member. The terms are for the Company to pay an annual fee of \$6,000. The Company had \$21,719 owed to the related party member at December 31, 2024, which is included due to related party in the accompanying Statement of Financial Condition. {9}------------------------------------------------ ### NOTES TO FINANCIAL STATEMENTS ## DECEMBER 31, 2024 #### Note 6 - Net Capital Requirements The Company is subject to the Uniform Net Capital Rule under the Securities and Exchange Act of 1934 (Rule 15c3-1 ). Rule 15c3-1 requires maintenance of minimum net capital of the greater of 6 2/3% of the Company's total aggregate indebtedness, as defined, or \$5,000, and that the ratio of aggregate indebtedness to net capital, as defined, shall not exceed 15 to 1. At December 31, 2024 the Company had net capital of \$162,832 which was \$156,145 in excess of its minimum net capital requirement (see Schedule I). The Company's ratio of aggregate indebtedness to net capital is 0.62 to 1. #### Note 7 - Contingencies From time to time, the Company may be involved in legal actions arising in the ordinary course of business. Each of these matters is subject to various uncertainties, and it is possible that some of these matters may be resolved unfavorably. The Company establishes accruals for losses that management deems to be probable and subject to reasonable estimate. #### Note 8 - Subsequent Events The Company has evaluated subsequent events through February 27, 2025, the date the financial statements were approved and authorized for issuance by management. The Company did not recognize any subsequent events to disclose. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.