# LOCKEBRIDGE PARTNERS, INC. X-17A-5 (2021-03-01) — Broker-dealer annual report - Company: LOCKEBRIDGE PARTNERS, INC. - Form: X-17A-5 - Filed: 2021-03-01 - Period: 2020-12-31 - Accession: 0001388082-21-000001 - CIK: 1388082 - File #: 8-67533 - Material weakness: No - Auditor: Tuttle & Bond, PLLC - Auditor location: China Spring, TX - Contact: Scott Waxler - Phone: 978-764-0727 - Signed by: Scott Waxler (Managing Partner) Original filing: https://www.sec.gov/Archives/edgar/data/1388082/000138808221000001/LockeBridgeAudit20.pdf --- {0}------------------------------------------------ **UNITED STATES SECURITIESANDEXCHANGECOMMISSION Washington, D.C. 20549** ## **ANNUAL AUDITED REPORT FORM X-17A-5 PART Ill** 0MB APPROVAL 0MB Number: 3235-0123 Expires: October 31, 2023 Estimated average burden hours per response ...... 12.00 | | SEC FILE NUMBER | |----|-----------------| | 8- | 67533 | **FACING PAGE Information Required of Brokers and Dealers Pursuant to Section 17 of the Securities Exchange Act of 1934 and Rule 17a-5 Thereunder** | REPORT FOR THE PERIOD BEGINNING O 1/01/2020 | | AND ENDING 12/31 /20 | ----------- | |------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------|----------------------|--------------------------------| | | MM/DD/YY | | MM/DD/YY | | | A. REGISTRANT IDENTIFICATION | | | | NAME oF BROKER-DEALER: LockeBridge Partners, Inc | | | OFFICIAL USE ONLY | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O. Box No.) | | | FIRM I.D. NO. | | 1 Van de Graaff Drive | | | | | | (No. and Street) | | | | Burlington | MA | | 01803 | | (City) | (State) | | (Zip Code) | | NAME AND TELEPHONE NUMBER OF PERSON TO CONTACT IN REGARD TO THIS REPORT
Daniel Beaton: 603-502-9677, Scott Waxler: 978-764-0727 | | | | | | | | (Area Code - Telephone Number) | | | B. ACCOUNTANT IDENTIFICATION | | | | INDEPENDENT PUBLIC ACCOUNTANT whose opinion is contained in this Report* | | | | | Tuttle & Bond, PLLC | | | | | | (Name - if individual, state last, first, middle name) | | | | 1928 Jackson Lane | China Spring | TX | 76633 | | (Address) | (City) | (State) | (Zip Code) | | CHECK ONE: | | | | | I
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Certified Public Accountant | | | | | Public Accountant | | | | | B | Accountant not resident in United States or any of its possessions. | | | | | FOR OFFICIAL USE ONLY | | | | | | | | | | | | | | | | | | *\*Claims for exemption from the requirement that the annual report be covered by the opinion of an independent public accountant must be supported by a statement of facts and circumstances relied on 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 not required to respond unless the form displays a currently valid 0MB control number.** {1}------------------------------------------------ ### **OATH OR AFFIRMATION** | | I. Scott Waxler | . swear (or affirm) that. to the be~t or | |---------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | LockeBridge Partners. Inc | my knowledge and belief the accompany ing financial statement and supporting schedules pertaining to the firm of
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Computation for Determination of the Reserve Requirements Under Exhibit A of Rule I 5c3-3. | | | | 0 (k) A Reconciliation between the audited and unaudited Statements of Financial Condition with respect to methods of | | | con~olidation.
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(m) A copy of th.: SI PC Supplemental Report. | (n) A report describing an) material inadequacies found to exist or found to have exbted since the date o f the previous audit. | *\*\* For condi1io11s u{co1!/idt:n!ial ln:almel/l* of *~·ertui11 porlhms u\_f1his/i/i11g. see It:Clion :!--10.* 1~a-5/e)(3). {2}------------------------------------------------ LockeBridge Partners, Inc. Financial Statements And Supplemental Information For the Year Ended December 31, 2020 {3}------------------------------------------------ # **LOCKEBRIDGE PARTNERS, INC.** ## **CONTENTS** | Report of Independent Registered Public Accounting
Firm | | | |---------------------------------------------------------------------------------------------------------|------|--| | Financial Statements | | | | Statement of Financial Condition | 5 | | | Statement of
Operations | 6 | | | Statement of Changes in Stockholder
s Equity | 7 | | | Statement of Cash Flows | 8 | | | Notes to Financial
Statements | 9-10 | | | Supplemental Information | | | | Schedule I, Computation of Net Capital Under Rule 15c3-1 | 11 | | | Schedule II, Computation for Determination of Reserve Requirements
Under Rule 15c3-3 (Exemption) | 12 | | | Schedule III, Information for Possession or Control Requirements
Under Rule 15c3-3 (Exemption) | 13 | | | Report or Independent Registered Public Accounting Firm
on Assertions Regarding Exemption Provisions | 14 | | | Management
s Exemption Report | 15 | | {4}------------------------------------------------ , Inc. LockeBridge Partners Independent Auditor's Opinion For the Year-ended December 31, 2020 {5}------------------------------------------------ ![](_page_5_Picture_0.jpeg) #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To Director and Shareholder of , Inc. LockeBridge Partners #### Opinion on The Financial Statements We have audited the accompanying statement of financial condition of , Inc. (the as of December 31, 20 , and the related statements of operations, stockholder's equity and cash flows for the year then ended, including the related notes (collectively referred to as In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 20 , 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. 20 "financial statements"). LockeBridge Partners "Company") 20 #### Basis for Opinion s management. Our responsibility is to express an opinion on the accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. These financial statements are the responsibility of the Company' Company's financial statements based on our audit. We are a public We conducted our audit of these financial statements in accordance with 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 from material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Comp we express no such opinion. any's internal control over financial reporting. Accordingly, Our 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. 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 the audit provides a reasonable basis for our opinion. #### Report on Supplementary Information The accompanying information contained in the Supplementary Information section has been subjected to audit procedures performed t. The supplemental information is the responsibility of the C management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or 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 Rule 17a-5 under the Securities Exchange Act of 1934 and, if applicable, under Regulation 1.10 under the Commodity Exchange Act. In our opinion, the information contained in the Supplementary Information section is fairly stated, in all material respects, in relation to the financial statements as a whole. in conjunction with the audit of the Company's financial statemen ompany's **I l TTI** • ., **8 ,o. PPL** China Spring, Texas , 202 **February 23 1** We have served as the auditor since 20 . LockeBridge Partners, Inc.'s 20 Page of 15 **4** {6}------------------------------------------------ # LockeBridge Partners, Inc. Statement of Financial Condition December 31, 2020 | TOTAL LIABILITIES & EQUITY | \$
22,213 | |---------------------------------------------------------------------|--------------| | Total Stockholder's Equity | 18,853 | | Net Income | -16,481 | | Retained Earnings | -122,671 | | Additional Paid In Capital | 157,985 | | \$.01 par value, 2,000 shares authorized,
issued and outstanding | | | Common Stock | 20 | | Stockholder's Equity | | | Total Liabilities | 3,360 | | Accrued Expenses | 3,360 | | Liabilities | | | LIABILITIES & STOCKHOLDER'S EQUITY | | | TOTAL ASSETS | 22,213 | | CRD Account | 268 | | Cash | \$
21,945 | | ASSETS | | {7}------------------------------------------------ LockeBridge Partners, Inc. Statement of Operations December 31, 2020 | Revenue | \$ | | |--------------------------|----------------|--| | Expenses | | | | Professional Fees | 10,900 | | | Rental Expense | 2,400 | | | Licensing & Registration | 3,181 | | | Total Expenses | 16,481 | | | Net Loss | \$ {16,481.00) | | {8}------------------------------------------------ LockeBridge Partners, Inc. Statement of Changes in Stockholder Equity For the Year Ended December 31, 2020 | | Common Stock | | Additional | | Total | | | | |------------------------------|--------------|----|------------|---------------|-------|--------------|----|---------------| | | | | | Paid-in | | Accumlated | | Stockholder's | | | Shares | | Amount | Capital | | Deficit | | Equity | | Balance at January 1, 2020 | 2,000 | \$ | 20 | \$
130,985 | \$ | (122,671) \$ | | 8,334 | | Capital Contribution | | | | 27,000 | | | \$ | 27,000 | | Net Loss | | | | | | (16,481) \$ | | (16,481) | | | | | | | | | | | | Balance at December 31, 2020 | 2,000 | \$ | 20 | \$
157,985 | \$ | (139,152) \$ | | 18,853 | {9}------------------------------------------------ | LockeBridge Partners, Inc. | |-----------------------------------------| | Statement of
Cash Flows | | For the Year Ended
December 31, 2020 | | CASH FLOWS FROM OPERATING ACTIVITIES
Net Loss | \$
(16,481) | |----------------------------------------------------------------------------------------------------------|---------------------| | CHANGES IN OPERATING ASSETS AND LIABILITIES
Accrued Expenses
NET CASH USED IN OPERATING ACTIVITIES | (1,450)
(17,931) | | CASH FLOWS PROVIDED BY FINANCING ACTIVITIES
Capital Contribution
NET DECREASE IN CASH | 27,000
9,069 | | CASH BEGINNING OF YEAR | 13,145 | | CASH END OF YEAR | \$
22,213 | {10}------------------------------------------------ ## **LOCKEBRIDGE PARTNERS, INC. NOTES TO THE FINANCIAL STATEMENTS Year Ended December 31, 2020** ### **1. Nature of Operations** LockeBridge Partners, Inc. (the -dealer registered with the Securities and Exchange Commission (SEC) and is a member of the SPIC and the Financial Industry Regulatory Authority, Inc (FINRA). The Company engages in capital raising, brokering the sale and purchase of businesses and business consulting services. "Company") is a broker ### **2. Summary of Significant Accounting Policies** #### *Basis of Presentation and 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 the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. #### *Subsequent Events* Management has evaluated subsequent events through February 23, 2021 which is the date these financial statements were available to be issued. There have been no material subsequent events that would require disclosure or would be required to be recognized in the financial statements as of December 31, 2020. #### *Cash* Cash includes cash held with a financial institution and with a central registration depository ( account with FINRA. "CRD") #### *Revenue Recognition* The Company enters into contracts with customers calling for consulting fees and commissions to be paid according to specific payment terms, as defined. The Company, upon commencement of generating revenue, will recognize such revenue under ASC Topic 606, Revenue from Contracts with Customers. Specifically, the Company recognizes revenue from retainers and engagement fees on a percent completion basis and contingent success based fees are recognized upon payment. There were no customers in 2020 and so no revenue was recognized. #### *Income Taxes* The Company has elected to be treated as an S Corporation for both federal and state tax purposes whereby the stockholder reports all income and losses in his individual tax return. Accordingly, the accompanying financial statement reflect no provision for income taxes. The Company are subject to examination by taxing authorities, generally for three years after they were filed. 's income tax returns #### **3. Subordinated Liabilities** The Company did not have any subordinated liabilities at any time during the year ended December 31, 2020. {11}------------------------------------------------ ## **LOCKEBRIDGE PARTNERS, INC. NOTES TO THE FINANCIAL STATEMENTS Year Ended December 31, 2020** ## **4. Net Capital Requirements** As a broker-dealer the Company is subject to the Uniform Net Capital Rule 15c3-1 under the Securities and Exchange Act of 1934, which requires the maintenance of minimum net capital equal to the greater of \$5,000 or 6 2/3% of aggregate indebtedness and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to 1. At December 31, 2020 the Company had net capital of \$18,853 which was \$13,853 in excess of its required net capital of \$5,000. The Company aggregate indebtedness to net capital was 0.18 to 1 as of December 31, 2020. 's ratio of ### **5. Related Party Transactions** The Company is collocated with a sister entity, LockeBridge, LLC (the Under a Management Services Agreement ( July 1, 2018 the LLC provides certain services to the relating to the use of its facilities. These amounts are monthly and are subject to periodic review. During the year ended December 31, 2020 the Company paid \$2,400 to the LLC classified as rental expense in the statement of operations. "LLC"}. **"MSA"}** dated ## **6. Guarantees, Contingencies and Commitments** The Company has made no guarantees, does not have any pending lawsuits or arbitration claims, and has no commitments. {12}------------------------------------------------ ## **LOCKEBRIDGE PARTNERS, INC. SCHEDULE I, COMPUTATION OF NET CAPITAL UNDER RULE 15C3-1 December 31, 2020** | Capital:
Total Stockholders Equity | | \$
18,853 | |---------------------------------------------------------------------------------------------------------------|--------------------|--------------| | Minimum Net Capital! Requirement
6 2/3% x aggregrate indebtedness
or minimum dollar capital requirement | \$
224
5,000 | 5,000 | | Excess net capital | | \$
13,853 | | Aggregrate Indebtedness | | \$
3,360 | | Ratio of aggregrate indebtedness to net capital | | .18 to 1 | There are no material differences between this computation of net capital above and the amount reported on the December 31, 20 unaudited Part IIA FOCUS report filing**.** 20 See report of independent registered public accounting firm**.** {13}------------------------------------------------ ## **LOCKEBRIDGE PARTNERS, INC. Schedule II COMPUTATION FOR DETERMINATION OF RESERVE REQUIREMENTS Under Rule 15c3-3 (Exemption) December 31, 20** 20 The Company is exempt from the reserve requirements pursuant to Rule 15c3-3 under paragraph (k)(2)(i). See report of independent registered public accounting firm. {14}------------------------------------------------ ## **LOCKEBRIDGE PARTNERS, INC. Schedule III INFORMATION FOR POSSESSION OR CONTROL REQUIREMENTS Under Rule 15c3-3 (Exemption) December 31, 20** 20 Information relating to possession or control requirements is not applicable to LockeBridge Partners, Inc. as qualifies for exemption under Rule 15c3-3 (k)(2)(i). See report of independent registered public accounting firm. {15}------------------------------------------------ ![](_page_15_Picture_0.jpeg) Supplementary SchedulesPursuantto SEARule 17a 5 Of the Securities and Exchange Act of 1934 For the Year End December 31, 20 **Supplementary Schedules Pursuant to SEA Rule 17a-5 Of the Securities and Exchange Act of 1934 For the Year-End December 31, 2020** Report of Independent Registered Public Accounting Firm Exemption Review Report Pursuant to 15c3 3 Report of Independent Registered Public Accounting Firm Exemption Review Report Pursuant to 15c3-3 Exemption: 15c3-3(k)(2)(i) Inc. , Scott Waxler LockeBridge Partners, 1 Van de Graff Drive, #201 Burlington MA 01803 Dear : Scott Waxler We have reviewed management's statements, included in the accompanying Representation Letter of Exemptions, in which , Inc. identified 15c3-3(k)(2)(i) as the provision under 17 C.F.R. § 15c3-3(k) under which it claims exemption from 17 C.F.R. §240.15c3-3. , Inc. stated that it has met the 15c3-3(k)(2)(i) exemption throughout the most recent fiscal year without exception, or, with exception, as noted in the Representation Letter of Exemption. , provisions and its statements. Our review was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and, accordingly, included inquiries and other required procedures to obtain evidence about ance with the exemption provisions. A review is substantially less in scope than an examination, the objective of which is the expression of an opinion on management's statements. Accordingly, we do not express such an opinion. Based on my review, I am not aware of any material modifications that should be made to management's statements referred to above for them to be fairly stated, in all material respects, based on the provisions set forth in Rule 15c3-3 under the Securities Exchange Act of 1934. LockeBridge Partners Inc. 's management is responsible for compliance with the exemption **LockeBridge Partners, Inc.'s compli** LockeBridge Partners LockeBridge Partners **l l TTI** I..,. **13 , o. PPL** China Spring, Texas , 202 **February 23** I **Tuttle** & **Bond, PLLC** {16}------------------------------------------------ # **Assertions Regarding Exemption Provisions** I, as a member of management of LockeBridge Partners, Inc. (the Company responsible for compliance with the annual reporting requirements under Rule 17a-4 of the Securities Exchange Act of 1934. Those requirements compel a broker or dealer to file annual reports with the Securities and Exchange Commission (SEC) and the broker or dealer thority (DEA). Pursuant to that requirement, the management of the Company hereby makes the following assertions. "), am 's designated examining au ## **Identified Exemption Provision:** The Company claims exemption from the custody and reserve requirement provisions of 17 C.F.R §240.15c3-3(k) by operating under the exemption provided by 17 C.F.R §240.15c3-3(k)(2)(i). ## **Statement Regarding Exemption Provision:** The Company met the identified exemption provision without exception throughout the year ended December 31, 2020. ## **LockeBridge Partners, Inc.** **By:** Scott Waxler, President February , 2021 23 Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.