# COLUMBIA WEST CAPITAL, LLC X-17A-5 (2025-04-15) — Broker-dealer annual report - Company: COLUMBIA WEST CAPITAL, LLC - Form: X-17A-5 - Filed: 2025-04-15 - Period: 2024-12-31 - Accession: 0001326293-25-000001 - CIK: 1326293 - File #: 8-66930 - Type: Broker-dealer - Material weakness: No - Auditor: Cropper Accountancy Corp - Auditor location: Walnut Creek, CA - Contact: Elizabeth Collins - Phone: 415-246-9169 - Email: admin@columbiawestcap.com - Website: columbiawestcap.com - Signed by: John Farr (Managing Director) Original filing: https://www.sec.gov/Archives/edgar/data/1326293/000132629325000001/cwspub24.pdf --- {0}------------------------------------------------ **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** > **ANNUAL REPORTS FORM X-17A-S PART** Ill | 0MB APPROVAL | |--------------------------| | 0MB Number: 3235-0123 | | Expires: Nov. 30, 2026 | | Estimated average burden | | hours per response: 12 | SEC FILE NUMBER 8-66930 **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 **01/01/2024** MM/DD/VY MM/DD/VY **A. REGISTRANT IDENTIFICATION** NAME oF FIRM: Columbia West Capital, LLC TYPE OF REGISTRANT (check all applicable boxes): ~ Broker-dealer □ Security-based swap dealer D Check here if respondent is also an OTC derivatives dealer □ Major security-based swap participant AND ENDING **12/31/2024** ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | (No. and Street) | | | | | |----------------------------------------------|---------------------------------------------------------------------------|---------------------------|--|--|--| | Scottsdale | AZ | 85254 | | | | | (City) | (State) | (Zip Code) | | | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | Patricia Attridge | (480) 664-3949 | admin@columbiawestcap.com | | | | | (Name) | (Area Code - Telephone Number) | (Email Address) | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing* | | | | | # Cropper Accountancy Corporation | | (Name - if individual, state last, first, and middle name) | | | |------------------------------------------------|------------------------------------------------------------|---------|------------------------------------------| | 2700 Ygnacio Valley Road, Ste 270 Walnut Creek | | CA | 94598 | | (Address) | (City) | (State) | (Zip Code) | | 03/04/2009 | | 3381 | | | rte of ftes;stratioo witl, PCAOB)(lf ap~kable) | | | (PCAOB R,;strati, N•mbe,, • applkable) I | | | 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 be supported by a statement offacts 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. {1}------------------------------------------------ #### **OATH OR AFFIRMATION** | 1, John Farr | swear (or affirm) that, to the best of my knowledge and belief, the | |-----------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------| | financial report pertaining to the firm of Columbia West Capital, LLC | as of | | 2~
12/31 | 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. | | | | | Tiffe: Managing Director #### **This filing\*\* contains (check all applicable boxes):** - **iii** (a) Statement of financial condition. - **iii** (b) Notes to consolidated statement of financial condition. - **iii** (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). - **iii** (d) Statement of cash flows. - **iii** (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - □ (f) Statement of changes in liabilities subordinated to claims of creditors. - **iii** (g) Notes to consolidated financial statements. - **iii** (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-l, as applicable. - □ (i) Computation of tangible net worth under 17 CFR 240.18a-2. - **!i:** 0) 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. - □ (I) Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3. - **iii** (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. - □ (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. - **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. - **ii** (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. - **ii** (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. - 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. - **ii (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. - □ (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 240.17a-5(e)(3} or 17 CFR 240.18a-7(d)(2), as applicable. {2}------------------------------------------------ #### **STATEMENT OF FINANCIAL CONDITION** **DECEMBER 31, 2024** The report is filed in accordance with Rule 17a-5(e)(3) under the Securities Exchange Act of 1934 as a **PUBLIC DOCUMENT.** {3}------------------------------------------------ #### **TABLE OF CONTENTS** Page(s) | Report oflndependent Registered Public Accounting Firm | 5 | |--------------------------------------------------------|-----| | Statement of Financial Condition | 6 | | Notes to Statement of Financial Condition | 7-9 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) ## REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Members of Columbia West Capital #### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of Columbia West Capital, 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 Columbia West Capital 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 Columbia West Capital, LLC's management. Our responsibility is to express an opinion on Columbia West Capital'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 Columbia West Capital 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 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 op1mon. ~~~ ACCOUNT ANCY CORPORATION CROPPER We have served as Columbia West Capital, LLC's auditor since 2024. Walnut Creek, California April 15, 2025 {5}------------------------------------------------ #### STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2024 #### **ASSETS** | CASH | \$
17,635 | |-----------------------------------------------|--------------| | OIBER ASSETS | 1,288 | | Total assets | \$
18,923 | | LIABILITIES AND MEMBERS' EQUITY | | | LIABILITIES:
Accrued expenses | \$
8,400 | | COMMITMENTS AND CONTINGENCIES (Notes 3 and 4) | | | MEMBERS' EQUITY(Note 3) | 10,523 | | Total liabilities and members' equity | \$
18,923 | {6}------------------------------------------------ # **NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2024** # *NOTEJ- ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES* ## *Organization and Business* Columbia West Capital, LLC ( the "Company") was formed as a Delaware limited liability company on January 1, 2005 and operates as a broker-dealer registered with the Securities and Exchange Commission and Financial Industry Regulatory Authority, Inc. The Company provides mergers and acquisition and private placement investment banking and related advisory services. ## *Revenue Recognition* Investment banking revenues include fees arising from securities offerings in which the Company acts as an agent. Investment banking fees are recorded on the completion date of the private securities offering or when advisory services have been performed. In accordance with ASC 606, the Company recognizes revenue when it is earned. Nonrefundable retainer fees are recognized on a monthly basis under the terms of the Company's engagement letters and are distinct and separate services from success fees. Success fees are recognized upon completion of the deal. # *Use of Estimates* The preparation 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 revenues and expenses during the reporting period. Actual results could differ from those estimates. #### *Cash Equivalents* The Company considers all demand deposits held in banks and certain highly liquid investments with original maturities of three months or less to be cash equivalents. At December 31 , 2024, the Company's cash did not exceed the Federal Deposit Insurance Corporation limit of \$250,000. #### *Income Taxes* The financial statements do not include a provision for income taxes because the Company is a flowthrough entity and its members are taxed on their respective share of the Company's earnings. {7}------------------------------------------------ #### **NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2024** #### *NOTEJ-ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (concluded)* #### *Income Taxes (concluded)* The Company is required to determine whether a tax position is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution of any tax related appeals or litigation processes, based on the technical merits of the position. The Company files an income tax return in the U.S. federal jurisdiction, and may file income tax returns in various U.S. states. The Company is not subject to income tax return examinations by major taxing authorities for years before 2020. The tax benefit recognized is measured as the largest amount of benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. De-recognition of a tax benefit previously recognized results in the Company recording a tax liability that reduces net assets. However, the Company's conclusions regarding this policy may be subject to review and adjustment at a later date based on factors including, but not limited to, on-going analyses of and changes to tax laws, regulations and interpretations thereof. The Company recognizes interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in income taxes payable, if assessed. No interest expense or penalties have been recognized as of and for the year ended December 31 , 2024. #### *Single Reportable Segment* The Company is engaged in a single line of business as a securities broker-dealer which is comprised of investment banking services described in Note 1. The Company has identified its Managing Member as the chief operating decision maker ("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 (see Note 3), which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy, such as whether to maintain profits or pay distributions. The Company's operations constitute a single operating segment and therefore, a single reportable segment, because the CODM manages the business activities using information of 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 policies listed herein. # *NOTE2- RELATED PARTIES* The Company has an expense sharing agreement with Columbia West Cap, LLC ("Cap") whereby Cap pays certain overhead expenses including salaries, rent, and other miscellaneous office expenses; however, regulatory and compliance related expenses are paid for by the Company. Management has the intent and ability to fund the Company as needed over the next 12 months. {8}------------------------------------------------ #### **NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2024** #### *NOTE3- NET CAPITAL REQUIREMENTS* Pursuant to the net capital provisions of Rule 15c3-1 of the Securities Exchange Act of 1934, the Company is required to maintain a minimum net capital, as defined under such provisions. At December 31 , 2024, the Company had net capital and net capital requirements of \$9,235 and \$5,000. The Company's net capital ratio (aggregate indebtedness to net capital) was .9 to 1. According to Rule 15c3-1 , the Company's net capital ratio shall not exceed 15 to 1. # *NOTE4- FINANCIAL INSTRUMENTS, COMMITMENTS, AND CONTINGENCIES* The Company's financial instruments, including cash and accrued expenses, are carried at amounts which approximate fair value. The Company did not note any material commitments or contingencies at December 31 , 2024, that require disclosure. In the ordinary course of business, the Company is party to pending and threatened proceedings brought on behalf of various claimants, some of which seek material and indeterminable amounts. The disposition of these matters in the opinion of management should not have a material adverse effect on the Company's financial position. # *NOTE* **5-** *SUBSEQUENT EVENTS* The Company has performed an evaluation of subsequent events through the date the financial statements were issued. The evaluation did not result in any subsequent events that required disclosures and/ or adjustments. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.