# THE SPARTAN GROUP X-17A-5 (2026-02-27) — Broker-dealer annual report - Company: THE SPARTAN GROUP - Form: X-17A-5 - Filed: 2026-02-27 - Period: 2025-12-31 - Accession: 0001207245-26-000003 - CIK: 1207245 - File #: 8-65674 - Type: Broker-dealer - Material weakness: No - Auditor: Anson, Brian, W - Auditor location: TARZANA, CA - Contact: John Johnson - Phone: (626) 204-6380 - Email: jojohnson@spartantsg.com - Website: spartantsg.com - Signed by: John Johnson (Managing Director) Original filing: https://www.sec.gov/Archives/edgar/data/1207245/000120724526000003/2025SpartanPublicCertAudit.pdf --- {0}------------------------------------------------ Report Pursuant to Rule 17a-5 (d) Financial Statements for the Year Ended December 31, 2025 {1}------------------------------------------------ **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** | ANNUAL REPORTS | |----------------| | FORM X-17A-5 | | PART Ill | | 0MB Number: 3235-0123
Expires: Nov. 30, 2026
Estimated average burden
hours per response: 12 | |-------------------------------------------------------------------------------------------------------| | SEC FILE NUMBER | 8-69307 # FACING PAGE **Information Required Pursuant to Rules 17a-5, 17a-12, and lSa-7 under the Securities Exchange Act of 1934** FILING FOR THE PERIOD BEGINNING 0 1/01 /25 **MM/DD/YY** AND ENDING 12/31 /25 **MM/DD/YY A. REGISTRANT** IDENTIFICATION NAME oF FIRM: The Spartan Group LLC G Broker-dealer D Security-based swap dealer D Major security-based swap participant **D Check here if respondent is also an OTC derivatives dealer** 16 North Marengo, Suite #307 **(No. and Street)** Pasadena CA 91101 **(City) (State) (Zip Code)** John Johnson (626) 204-6380 jojohnson@spartantsg.com **B. ACCOUNTANT IDENTIFICATION** Brian W. Anson, CPA **(Name -if individual, state last, first, and middle name)** 18455 Burbank Blvd. Suite 406 Tarzana CA **(Address) (City) (State)** 09/15/2005 2370 91356 **(Zip Code) (Date of Re�istration with PCAOB)(if applicable) (PCAOB Rel?istration Number, if apolicable) FOR OFFICIAL USE ONLY** **• Claims for exemption from the requirement that the annual reports be covered by the reports of an independent public** accountant must b� mpport�d **by** a statamanr of tam and circumstances relied on as the basis of the exempuon. see 17 **CrR 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 0MB control number.** TYPE OF REGISTRANT (check all applicable boxes): ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | Pasadena | CA | 91101 | | |--------------|----------------------------------------------|--------------------------|--| | | (State)
(City) | (Zip Code) | | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | John Johnson | (626) 204-6380 | jojohnson@spartantsg.com | | | (Name) | (Area Code -Telephone Number) | (Email Address) | | #### INDEPENDENT PUBLIC ACCOUNTANT whose reports **are** contained in this filing\* {2}------------------------------------------------ #### OATH OR AFFIRMATION | 1, 2 | John Johnson | |------|--------------| | | | I, John Johnson swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of The Spartan Group, LLC as of December 31 2� is true and correct. I further swear (or e company nor any partner, officer, director, or equivalent person, as the case may be, has any prop • ta unt classified solely as that of a customer. #### This **filing•• contains (check all applicable boxes):** - iii (a) Statement of financial condition. - □ (b) Notes to consolidated statement of financial condition. - 0 (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. - 0 (f) Statement of changes in liabilities subordinated to claims of creditors. - ii (g) Notes to consolidated financial statements. - D (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. - D (j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - 0 **(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. - □ (I) Computation for Determination of PAB Requirements under Exhibit A to§ 240.15c3-3. - 0 (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - 0 (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. - □ (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. - 0 (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - ii (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. - 0 (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - ii (t) Independent public accountant's report based on an examination of the statement of financial condition. - 0 (u) Independent public accountant's report based on an examination of the financial report or financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - 0 (v) Independent public accountant's report based on an examination of certain statements rn the compliance report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - 0 (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. - O (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-1e or 17 CFR 240.17a-12, as applicable. - O (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: \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ \_ *0ro request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-S(e}(3) or 17 CFR 240.1Ba-7(d)(2), as applicable.* {3}------------------------------------------------ *Certified Public Accountant* 18455 Burbank Blvd., Suite 406, Tarzana, CA 91356 • Tel. (818) 636-5660 ## **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Members and Board of Members' of The Spartan Group LLC #### **Opinion on the Financial Statements** I have audited the accompanying statement of financial condition of The Spartan Group LLC as of December 31, 2025, and the related notes (collectively referred to as the financial statements). In my opinion, the financial statements present fairly, in all material respects, the financial position of The Spartan Group LLC as of December 31, 2025, in conformity with accounting principles generally accepted in the United States of America. ### **Basis for Opinion** These financial statements are the responsibility of The Spartan Group LLC's management. My responsibility is to express an opinion on The Spartan Group LLC's financial statements based on my audit. I am a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and am required to be independent with respect to The Spartan Group LLC in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. I conducted my audit in accordance with the standards of the PCAOB. Those standards require that I 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. My audit included performing procedures to assess the risks of material misstatement of the financial statements, 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. My audit also included evaluating the accounting principles used and significant estimates made by management, as evaluating the overall presentation of the financial statements. I believe that my audit provides a reasonable basis for my opinion. **B�A** I have served as The Spartan Group LLC's auditor since 2014. Tarzana, California February 10, 2026 {4}------------------------------------------------ Statement of Financial Condition December 31, 2025 #### Assets | Cash | \$
44,069 | |-------------------------------------------------------|--------------------| | Accounts receivable | 60,000 | | Prepaid expenses | 78,804 | | Present-value of leasehold right-of-use asset | 299,136 | | Rent deposit | 5,658 | | Total assets | \$
487,667 | | Liabilities and members' equity | | | Liabilities | | | Due to Members | \$
820 | | Present-value of lease liability
Total liabilities | 299,136
299,956 | | Members' equity | | | Total members' equity | 187,711 | | Total liabilities and members' equity | \$
487,667 | The accompanying notes are an integral part of these financial statements {5}------------------------------------------------ #### Notes to Financial Statements Year Ended December 31, 2025 The Spartan Group LLC (the "Company") is a Limited Liability Company operating as a registered broker/dealer in securities under the Securities and Exchange Act of 1934. The Company is a member of the Financial Industry Regulatory Authority ("FINRA") and the Securities Investor Protection Corporation. The Company raises capital for corporate clients as a placement agent on a best-efforts basis and provides advisory services for mergers and acquisitions. Under its membership agreement with FINRA and pursuant to Rule 15c3-3(k)(2)(i), the Company conducts business on a fully disclosed basis and does not execute or clear securities transactions for customers. Accordingly, the Company is exempt from the requirement of Rule 15c3-3 under the Securities Exchange Act of 1934 pertaining to the possession or control of customer assets and reserve requirements. Summary of Significant Accounting Policies - General for doubtful accounts is not considered necessary because probable uncollectible accounts are The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 revenue and expenses during the reporting period. Actual results could differ from these estimates. Accounts receivable are stated at face amount with no allowance for doubtful accounts. An allowance immaterial. Equipment is stated at cost. Repairs and maintenance to these assets are charged to expense as incurred; major improvements enhancing the function and/or useful life are capitalized. When items are sold or retired, the related cost and accumulated depreciation are removed from the accounts and any gains or losses arising from such transactions are recognized. Equipment is depreciated over its estimated useful life of three (3) to five (5) years by the straight-line method. Purchases over \$5,000 are capitalized. One customer in 2025 accounted for 39% of revenue. FASB ASC 820 defines fair value, establishes a framework for measuring fair value, and establishes a fair value hierarchy which prioritizes the inputs to valuation techniques. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value measurement assumes that the transaction to sell the asset or liability occurs on a principal market, or in the absence of a principal market, on the most advantageous market for the asset or liability. Valuation techniques that are {6}------------------------------------------------ ### Notes to Financial Statements Year Ended December 31, 2025 consistent with the market, income or cost approach, as specified by FASB ASC 820 are used to measure fair value. The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels: - Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities the Company has the ability to access. - Level 2 inputs are inputs (other than quoted prices included within Level 1) that are observable for the asset or liability, either directly or indirectly. - Level 3 inputs are unobservable inputs for the asset or liability and rely on management's own assumptions that market participants would use in pricing the asset or liability. (The unobservable inputs should be developed based on the best information available under the circumstances and may include the Company's own data.) As of December 31, 2025, the Company had no levels to measure. Summary of Significant Accounting Policies – Revenue Significant Accounting Policy Revenue is measured based on a consideration specified in a contract with a customer, and excludes any sales incentives and amounts collected on behalf of third parties. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. Taxes and regulatory fees assessed by a government authority or agency that are both imposed on and concurrent with a specified revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue. {7}------------------------------------------------ #### Notes to Financial Statements Year Ended December 31, 2025 #### Nature of Services The following is a description of activities – separated by reportable segments, per FINRA Form "Supplemental Statement of Income (SSOI)"; from which the Company generates its revenue. For more detailed information about reportable segments, see the Company's Form SSOI. Fees earned: This includes fees earned from: investment banking fees and M&A advisory. #### Segment Reporting The Company Is engaged in a single line of business as a securities broker dealer, which is comprised of one class of service. The Company has identified a Managing Member as the chief operating decision maker (the "CODM"), who uses net income to evaluate the results of the business, predominantly in the forecasting process, to manage the Company. Additionally, the CODM uses excess net capital, which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy, such as whether to reinvest profits or pay dividends. The Company's operations constitute a single operating segment and therefore, a single reportable segment, because the CODM manages the business activities using information from the Company as a whole. The accounting policies used to measure the profit and loss of the segment are the same as those described in the summary of significant accounting policies. such, the Company is subject to a limited liability company gross receipts tax imposed by the State of California, with a minimum franchise tax. In addition, the Company makes payments on behalf of #### Related Party Transaction As of December 31, 2025, the Company owes \$820 to a related party. #### Note 2: INCOME TAXES The Company operates as a Limited Liability Company treated as a partnership for tax purposes. As members pursuant to the California Pass-Through Tax Credit (the "PTC"). In 2025, the Company paid \$92,802 of such taxes before refunds and contributions from members relating to the PTC of \$92,202 leaving a net tax expense of \$600. The Company is required to file income tax returns in both federal and state tax jurisdictions. The Company's tax returns are subject to examination by taxing authorities in the jurisdictions in which it operates in accordance with the normal statutes of limitations in the applicable jurisdiction. For federal purposes, the statute of limitations is three years. Accordingly, the company is no longer {8}------------------------------------------------ #### Notes to Financial Statements Year Ended December 31, 2025 subject to examination of federal returns filed more than three years prior to the date of these financial statements. The statute of limitations for state purposes is generally three years, but may exceed this limitation depending upon the jurisdiction involved. Returns that were filed within the applicable statute remain subject to examination. Note 3: OCCUPANCY AND LEASE OBLIGATION The Company leases office space in Pasadena, California. In September of 2025, the Company renegotiated an existing lease that was set to expire that month to extend it to expire at the end of September 2030. Rent expense in 2025 was \$103,089. of \$299,136 was calculated using a 10.0% annual discount rate for lease payments. The Company has adopted ASC Topic 842. The Right of Use asset is for the office lease at 16 North Marengo Avenue, Suite 307, Pasadena, California 91101. The present value as of December 31, 2025 Under its existing real-estate lease, the Company has the following minimum rents: #### Minimum rent due under existing lease: | 2026 | \$
66,589 | | |-------|---------------|--| | 2027 | 82,673 | | | 2028 | 85,154 | | | 2029 | 87,708 | | | 2030 | 67,250 | | | | | | | Total | \$
389,375 | | #### Note 4: NET CAPITAL REQUIREMENTS The Company is subject to the Securities and Exchange Commission Uniform Net Capital Rule (SEC rule 15c3-1), 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 1. Rule 15c3-1 also provides that equity capital may not be withdrawn or cash dividends paid if the resulting net capital ratio would exceed 10 to 1. Net capital and aggregate indebtedness change day to day, but on December 31, 2025 the Company had net capital of \$43,249 which was \$38,249 in excess of its {9}------------------------------------------------ ## Notes to Financial Statements Year Ended December 31, 2025 required net capital of \$5,000; and the Company's ratio of aggregate indebtedness (excluding the net present value of lease liability) to net capital was 0.019 to 1, which is less than the 15 to 1 maximum allowed. ## Note 5: SUBSEQUENT EVENT The Company has evaluated events subsequent from the balance sheet date to February 10, 2026 for items requiring recording or disclosure in the financial statements. The Company has determined that there were no events which took place that would have a material impact on its financial statements. #### Note 6: LITIGATION The Company was not involved in any litigation as a defendant in 2025. The Company pursued an arbitration claim against a customer for non-payment of fees. The matter is currently pending and a hearing has been scheduled for late April 2026. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.