# CAPITAL CITY SECURITIES, LLC X-17A-5 (2025-04-11) — Broker-dealer annual report - Company: CAPITAL CITY SECURITIES, LLC - Form: X-17A-5 - Filed: 2025-04-11 - Period: 2024-12-31 - Accession: 0001420522-25-000003 - CIK: 1420522 - File #: 8-67771 - Type: Broker-dealer - Material weakness: No - Auditor: HHH CPA Group - Auditor location: Columbus, OH - Contact: Todd Crawford - Phone: 6144853108 - Email: tecrawford@capitalcitypartners.com - Website: capitalcitypartners.com - Signed by: Todd Crawford (President) Original filing: https://www.sec.gov/Archives/edgar/data/1420522/000142052225000003/2024.pdf --- {0}------------------------------------------------ | | UNITED STATES | | OMB APPROVAL | | | | |-----------------------------------------------------------------------------------------------------------|------------------------------------------------------------|------------|-------------------------------------------------|--|--|--| | SECURITIES AND EXCHANGE COMMISSION | | | OMB Number: 3235-0123
Expires: Nov. 30, 2026 | | | | | | Washington, D.C. 20549 | | Estimated average burden | | | | | | | | hours per response: 12 | | | | | | ANNUAL REPORTS | | SEC FILE NUMBER | | | | | FORM X-17A-5 | | | 8-67771 | | | | | | PART III | | | | | | | | | | | | | | | | 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 | | AND ENDING | 12/31/2024 | | | | | | MM/DD/YY | | MM/DD/YY | | | | | | A. REGISTRANT IDENTIFICATION | | | | | | | | Capital City Securities, LLC | | | | | | | NAME OF FIRM: | | | | | | | | TYPE OF REGISTRANT (check all applicable boxes): | | | | | | | | Broker-dealer - Security-based swap dealer | | | 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.) | | | | | | | | | 3789 Attucks Drive | | | | | | | | | | | | | | | | (No. and Street) | | | | | | | Powell | OH | | 43065 | | | | | (City) | (State) | | (Zip Code) | | | | | | | | | | | | | | | | | | | | | | (614)485-3108 | | tecrawford@capitalcitypartners.com | | | | | | (Area Code - Telephone Number) | | (Email Address) | | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | | | PERSON TO CONTACT WITH REGARD TO THIS FILING
Todd Crawford
(Name) | | | | | | | | | | | | | | | | | HHH CPA Group, LLC | | | | | | | | (Name - if individual, state last, first, and middle name) | | | | | | | 1250 Old Henderson Road | Columbus | | OH
4322 | | | | | | (City) | | (Zip Code)
(State) | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
(Address)
12/21/2010 | | | 5344 | | | | | | | | | | | | | (Date of Registration with PCAOB)(if applicable) | FOR OFFICIAL USE ONLY | | (PCAOB Registration Number, if applicable) | | | | \* 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. {1}------------------------------------------------ #### OATH ORAFFIRMATION | Todd crawford | | | swear (or affirm) that, to the best of my knowledge and belief, the | | | |-------------------------------------------------------------------------------------------------------------------------------------|--|------------------------------|------------------------------------------------------------------------------------------|--|--| | report pertaining to the firm of
financial | | Capital City Securities, LLC | . as of | | | | 411 | | | 2025 . 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 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | President - E (a) Statement of financial condition. - E (b) Notes to consolidated statement of financial condition. - E (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 I 210.1{2 of Regulation S-X}. - = (d) Statement of cash flows. - = (e) Statement of changes in stockholders' or partners'or sole proprieto/s equity. - E (f) Statement of changes in liabilities subordinated to claims of creditors. - E (g) Notes to consolidated financial statements. - E (h) Computation of net capital under 17 CFR 2/t0.15c3-1 or 17 CFR 241.!8a-t, as applicable. - tl (i) Computation of tangible net worth under L7 CFR 240.18a-2. - n fi) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - tr (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 2rt0.15c3-3 or Exhibit A to 17 CFR 2t\$0.18a-4, as applicable. - D (l) Computation for Determination of PAB Requirements under Exhibit A to S 240.15c3-3. - n (m) lnformation relating to possession or control requirements for customers under 17 CFR 240.X5c3-3. - tr (n) lnformation relating to possession or control requirements for security-based swap customers under 17 CFR 2tt0.15c3-3(p)(2t'or t7 CFR 240.18a4, as applicable. - tl (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under 17 CFR 240.15c3-1, L7 CFR 240.18a-L, or L7 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or t7 CFR 240.18a4, as applicable, if material differences exist or a statement that no material differences exist. - tr (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - E (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, t7 CFR24O.t7a-L2, or 17 CFR 24O,L8a-7, as applicable. - tr (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 24O.L8a-7, as applicable. - E (s) Exemption report in accordance with 17 CFR240.l7a-5 or 17 CFR 240.78a-7, as applicable. - tr (t) lndependent public accountant's report based on an examination of the statement of financial condition. - E (u) lndependent public accountant's report based on an examination ofthefinancial report orfinancial statements under 17 CFR 240.17a-5, 17 CFR 24O.tBa-7, or 17 CFR 24O.L7a-L2, as applicable. - tr (v) lndependent public accountanfs report based on an examination of certain statements in the compliance report under 17 CFR 240.17a-5 or 17 CFR 240.LBa-7, as applicable. - = (w) lndependent public accountanfs teport based on a review of the exemption report under 17 CFR240.l7a-5 or L7 CFR 240.18a-7, as applicable. - E (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-Le or 17 CFR240,!7a-L2, as applicable. - = (y) Report describing any material inadequacies found to exist or found to have existed since the date of the prwious audit, or a statement that no material inadequacies exist, under L7 CFR24O.L7a-12(k). - E (z)Other: slPGT \*\*To request confidential treotment ol certain portions of this filing, see 77 CFR240.77o-5(e)(3) or 77 CFR 240.78o-7(d)(2), os opplicoble. {2}------------------------------------------------ Nick DiBartolomeo, CPA Brian Schneider, CPA ![](_page_2_Picture_1.jpeg) Rick Dumas, CPA fames Peters, CPA #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM ON APPLYING AGREED-UPON PROCEDURES To the Board of Directors of Capital City Securities, LLC Powell, Ohio We have performed the procedures included in Rule 17a-5(e)(4) under the Securities Exchange Act of 1934 and in the Securities Investor Protection Corporation (SIPC) Series 600 Rules, which are enumerated below and were agreed to by Capital City Securities, LLC and the SIPC, solely to assist you and SIPC in evaluating Capital City Securities, LLC's compliance with the applicable instructions of the General Assessment Reconciliation (Form SIPC-7) for the year ended December 31, 2024. Capital City Securities, LLC's management is responsible for its Form SIPC-7 and for its compliance with those requirements. This agreed-upon procedures engagement was conducted in accordance with standards established by the Public Company Accounting Oversight Board (United States) and in accordance with attestation standards established by the American Institute of Certified Public Accountants. The sufficiency of these procedures is solely the responsibility of those parties specified in this report. Consequently, we make no representation regarding the sufficiency of the procedures described below either for the purpose for which this report has been requested or for any other purpose. The procedures we performed and our findings are as follows: - 1) Compared the listed assessment payments in Form SIPC-7 with respective cash disbursement records entries, noting no differences; - 2) Compared the Total Revenue amount reported on the Annual Audited Report Form X-17A-5 Part III for the year ended December 31, 2024 with the Total Revenue amount reported in Form SIPC-7 for the year ended December 31, 2024, noting no differences; - 3) Compared any adjustments reported in Form SIPC-7 with supporting schedules and working papers, noting no differences; - 4) Recalculated the arithmetical accuracy of the calculations reflected in Form SIPC-7 and in the related schedules and working papers supporting the adjustments, noting no differences; and - 5) Compared the amount of any overpayment applied to the current assessment with the Form SIPC-7 on which it was originally computed, noting no differences. {3}------------------------------------------------ We were not engaged to and did not conduct an exarnination or review, the objective of rvhich would be the errpression of an opinion or conclusion, respectively, on Capital , City Securities, IJC's compliance with the applicable instructions of the Fonn SIPC-7 for tlle year ended December 31, 2A24. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters mlght have come to our attention that would have been reported to you. This report is intended solely for the inforsration and use of Capital City Securities, LLC and tlre SIPC and is not intended to be and should not be used b5r anyone other thanr tJrese specified parties. ftttn un Gnf, LLu HHH CPA Group, LLC Columbus, Ohio April 1,2025 {4}------------------------------------------------ ### Capital City Securities, LLC STATEMENT OF FINANCIAL CONDITION For the Years Ending in December 31, 2A24 &2023 | | 2A24 | | | 2023 | | |----------------------------------------------------------|------|------------|--|---------|--| | ASSETS | | | | | | | Cash | | 4,188 | | 73,363 | | | Restric{ed cash and equivalents | | 50,000 | | 50,000 | | | TotalCash | | 54,188 | | 123,363 | | | Fees Receivable Direct Business | | 12,326 | | 22,139 | | | Receivable from broker-dealers and clearing organization | | 49,903 | | 13,725 | | | Accounts receivable - related party | | 474,107 | | 314,113 | | | Accounts receivable - employees | | 17,224 | | 22,122 | | | OtherAssets | | 13,431 | | 13,487 | | | Totial Curent Assets | | 621,179 | | 508,950 | | | Long Term Assets | | | | | | | | | 621,179 \$ | | 508,950 | | | | | | | | | | LTABTLITTES ANp MEMBEBS' EQUITY | | | | | | | Accounts Payable | | 10,125 | | 17,514 | | | Commission Payable | | 31,182 | | 39,474 | | | Other Liabilities | | 814 | | 610 | | | Total Current Liabilities | | 47,921 | | 57,594 | | | Long Term Liabilities | | | | | | | Total Liabilities | | 47,921 | | 57,594 | | | Members'Equity: | | | | | | | Contributed Capital | | 205,000 | | 205,000 | | | Retained Eamings | | 368,258 | | 246,356 | | | Members'Equity | | 573,258 | | 451,356 | | | | | | | | | | | | 621,179 | | 508,950 | | {5}------------------------------------------------ ## CAPITAL CITY SECURITIES, LLC ### NOTES TO FINANCIAL STATEMENTS ## DECEMBER 3 1, 2024 AND 2023 {6}------------------------------------------------ ## CAPITAL CITY SECTruTIES, LLC NOTES TO NNANCIAL STATEMENTS #### DECEMBER Sl, 2024 ANTD 2023 ### l\$ote.1 - SUmmary of Significant Accountine Policies ## A. Organization Capital City Securities, LLC (the Company) was formed as a limited liability company in the State of Ohio in August 2006. The Company has been operating as a broker-dealer registered with the Securities and Exchange Commission (SEC) and the State of Ohio Securities Division since May 29, 2008; it is a member of the Finaucial Industry Regulatory Authority, Inc. (FINRA). The Company does not hold customer funds or safe-guard customer securities and clears all transactions on a fully disclosed basis through its clearing firm. As of December 31,2024, the Company is licensed in 27 states, including ekskq Alabamq Ariz.an4 California Colorado, Florida, Georgiq Hawaii, Ilinois, Indiana" Iow4 Kentucky, Louisianq Massachusetts, Michiean, Maryland, New York, North Carolina, New Jersey, Nevada, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, West Virginia and Virginia. ## B. ManagemgntsEstimates The preparation of frnancial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at &e date of the financial statemeflts, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. ## C. Cash The Company maintains cash balances at one banlq ooe money market account and on deposit with FINRA. The cash balance in the bank was under the federally insured limit of \$250,000 as of December 31, 2024. For purposes of the statemeot of cash flows, the Company considers all cash in checking accoutrts, money market accounts and held at FINRA to be cash equivalents. ## D. Co,ncentration of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of eash and commissions receivable. The Company places its cash with high credit quallty financial institutions, which ^t times may be in excess of FDIC insurance limits. The Companls receivables represent commissions from completed securities trades and monies owed it from licensed securities representatives for charges incurred at the firm. All customer tansactions are cleared tbrough another broker-dealer on a firlty disclosed basis. #### (Continued) {7}------------------------------------------------ ## CAPITAL CITY SECTruTIES, LLC NOTES TO NNAI\TCIAL STATEMENTS ### DECEMBER 31, 2024 Attlr 2023 #### Note 1 - Summary of Significant Acspunting.Policies- ## E. Advertising Costs a Advertising costs are expensed when incurred. Advertising costs were \$301 and \$301 in 2024 aad2023, respectively. Advertising is included in other expenses. ## F. Securities Transactions\_andRevenue Recognition Securities transactions, commissions and related clearing expenses are reported on a trade date basis. The change in the resulting difference between cost and market is included in net tading profits in the statement of income. The Companls activities are ' transasted on either a cash or margin basis. Margin fiansactions are subject to various regulatory and internal margin requirements and are collateralized by cash and securities in the Company's accounts. Commission expense is also recorded on a trade-date basis as security hansactions occur. ## G. Accounts receiyable Accounts receivable are stated at the amount billed. Management individually reviews all receivable balances and based on an assessment of current creditworthiness, estimates the portion, if ffiy, of the balance that will not be collected. In the opinion of the management, all receivables are considered collectable and no allowance was necessary at December 3L2424 and2023, The receivable from broker-dealers and clearing organization is the net amount owed from NFS to the Company for dealer activity. The reeeivable is recorded net of any related liabilities to the clearing firm on the accompanying statement of financial condition. Accounts receivable - related party are stated at the amount billed, Registered representative affrliation fees, commission charge backs and other costs that are the responsibility of registered representatives are offset against amounts owed to registered representatives for their commission payables. If the balance of tho debits owed to the Company exceed the amormt owed to the registered representative, the net balance owed to the Company is recorded as a receivable. ## H. Deposit with Clearing Oreanization The deposit with clearing organization consists of \$50,000 on deposit with RBC pursuant to the Compan/s clearing agreement. As long as the Company continues to use the clearing and execution services of RBC, the Company is required to maintain this fund on deposit. {8}------------------------------------------------ ## CAPMAL CITY SECURITIES, LLC NOTES TO FINAI\ICIAL STATEMENTS #### DECEMBER 31,2024 AttD 2023 ## ,; Govenrmqnt and Other Regulations The Company's business is subject to signifieant regulation by various governmental agencies and self-regulatory organizations. Such regulation includes, among other things, periodic examinations by these regulatory bodies to determine whether the Company is conducting and reporting its operations in accordance with " the requirements of these organizations. As a registered broker-dealer, the Company is subject to the SEC's Net Capital Rule 15c3-1 which requires that the Company maintains a minimum net capital, as defined [see note 3], ## Note 2 -Reserve Requirements The Company is not obligated to report under SEC Rule l5c3-3 since it does not maintain customer accouots or hold securities. All customer transactions are cleared through another broker-{ealer on a fully disclosed basis. Therefore, the Company does not have a reserve requirement nor does it have any information relating to the posse,.sion or control requirement under Rule 15c3-3. ## Note 3-NeI Capital Requir-ements (Schedules I and tr) Under SEC Rule 15c3-1, the Company is required to maintain net capital of not less than the greater of 6.670/o of total aggregate indebtedoess liabilities, exclusive of subordinated debt, for the year ended December 31, 2A24, \$3,196, or \$5,000. At December 31, 2024 the Company's net capital as defined by SEC Rule 15c3-l was \$63,496 in excess of the minimum net capital required. In addition to the minimum net capital provision, SEC Rule 15c3-l requires that the Company maintain a ratio of aggregate indebtness, as defined, to capital, of not more than 15 to 1. At December 31,2A24 the ratio was 0.57 to 1. ## NoJe 4 -Related Pa{E Transactions Capital City Securities, LLC is one of four subsidiaries of the parent company Capital City Partners, Inc. (CCP). Certain exp€nses are incurred by CCP, which then bills the fom subsidiaries based on direct consumption. The expenses relating to these transactions are wages, insurance, rent, utilities, and office expenses. These services accounted for \$33,159 in expenses during the year. ## Note 5-lncome Taxes The Company is recognized as a "pass--,through entity" underthe Irternal Revenue Code and pays no federal and state taxes. The parent company is taxed individually on the Company's taxable income. The Company recognizes and disclosures uncertain tax positions in accordance with accounting principles generally accepted in the United States of America. As of and during the year ended December 31, 2024, the Company did not have a liability for unrecognized tax benefits. The Company is no longer subject to examination by federal and state taxing authorities for returns {9}------------------------------------------------ ## CAPMAL CMY SECI}RITIDS, LLC NOTES TO FINANCIAL STATEMENTS ### DECEMBER 31,2024 AltD 2023 frled prior ta}A?l. # Note 6 -Pending Litigation The Company has no pending litigation. #### Note 7 - Rese4t\_Accguntiilg Pronouncement The Company adopts all applicable, new accounting pronouncements as of the specified ef[ective dates. Other accounting standards that have been issued or proposed by the FASB. or other standardssetting bodies that do not require adoption until a future date are not expected to have a material impact on our financial statemeilts upon adoption. ## Note I - Subsequent Events Management has reviewed all events subsequent to December 31, 2024, up to the date of audit report (April 1, 2025) and has not encountered any subsequent events that affect the current financial statements or that require additional disclosure. ## Note 9 - Contingencies The Company may enter into agreements that contain certain representations and warranties and which provide general indEmnifications. The Company serves as a guarantor of such obligations. The Companls maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Company that have not yet occurred. The Company expects any risk of liability associated with such indemnifications to be remote. As of December 31, 2024,the Company has not accrued for any such claims or othsr contingencies. In the ordinary course of business, the Company is also subject to regulatory examinations, information gathering requests, inquiries and investigations. As a registered broker-dealer, the Company is subject to regulation by the SEC, the FINRA, and state securities regulators. In connection with formal and informal inquiries by those agencies, the Company receives numerous requests, subpoenas and orders for docrments, testimony, and information in connection with various aspects of its regulated activities. ## Note l0 - The Company The Company is engaged in a single liue of business as a securities broker-dealer, which is comprised of services, including principal transactions, agency transactions, investnent baaking investment advisory and insurance business. The Company has identified its President 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, which is not a measure of profit and loss, to make operational docisions 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 ofthe 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 signifi cant accounting policies. {10}------------------------------------------------ Capital City Securities, LLC STATEMENTS OF OPERATIONS FOR THE YEARS ENDED DECEMBER 31, ## Capital City Securities, LLC STATEMENT OR OPERATIONS For the years ending December 31 , 2A24 &2023 | | 2024 | 2023 | | | |---------------------------------------------------------------------------|-----------------------------|----------------------------|--|--| | Revenues: | | | | | | Commissions
Other lncome | 538,465 \$
56,266 | 750,746
86,903 | | | | Total Revenues | 594,731 | 837,649 | | | | | | | | | | Expenses: | | | | | | Commissions
Clearing House Charges
Licenses, Dues and Subscriptions | 297,066
67,555
11,329 | 476,505
52,986
2,951 | | | | Professional Fees
lnsurance
Office Rent | 45,739
18,089
7,341 | 56,774
35,839
7,927 | | | | Other
Total Expenses | 25,710
472,829 | 24.805
657,687 | | | | Net lncome | 121,902 \$ | 179,962 | | | {11}------------------------------------------------ Capital City Securities, LLC STATEMENTS OF CASH FLOWS For the Years Ended December 31, ## Capital City Securities, LLC ## STATEMENT OF CASH FLOWS #### Forthe Years Ending December 3L, 2024&2023 | | ' | 2024 | 2423 | |-------------------------------------------------------------------------------------------------------------------------|----------|-----------|-----------| | Cash flows from Operating Activities: | | | | | Net lncome
Adjustments to reconcile Net lncome to Net Cash
from operating activities:
(lncrease) Decrease in : | -- | 121,902 | 179,962 | | Fees Receivable | | 9,814 | (5,492) | | Receivable from broker-dealerc and clearing organization | | (36,178) | 840 | | Accounts Receivable - related party | | (159,994) | (139,844) | | Accounts Receivable - employees | | 4,ggg | (4,235) | | OtherAssets | | 56 | (142) | | lncrease (Decrease) in : | | | | | Accounts Payable | | (1,385) | (26,250) | | Commission Payable | | (8,292) | 24,745 | | Other Liabilities | | 4 | 123 | | Total Adjustments | | (191,077) | (150,255) | | Net Cash From Operating Activities | | (69,175) | 29,707 | | Cash flows from lnvesting Activities' | | | | | Cash flows from Financing Activities:
Contributions
Dietributions | | | | | Net Cash From Financing Activities | | | | | Net lncrease (Decrease) in Cash | | (69,175) | 29,707 | | Cash and Restricted Cash at beginning of period | | 123,363 | 93,656 | | Cash and Restricted Cash at end of period | \$
re | 54,188 | 123,363 | | Supplemental Disclosures:
lnterest Paid | \$- | | | | lncome Taxes Paid | \$- | | | - {12}------------------------------------------------ ### Capital City Securities, LLC STATEMENT OF CHANGES IN MEMBERS' EQUITY Forthe Years Ending December 3L,2024 & 2023 | | 2024 | | 2023 | | |------------------------------|----------------|-----------|------|---------| | Contributed Capital: | | | | | | Balance at Beginning of Year | \$ | 205,000 | \$ | 205,000 | | Contributions | - | | - | | | Balance at End of Year | \$.
205r0q0 | | \$ | 205,000 | | Retained Earnings: | | | | | | Balance at Beginning of Year | | 246,356 | | 66,393 | | Net lncome | | 12',1,902 | | 179,963 | | Contributions | | | | | | Distributions | | | | | | Balance at End of Year | | 368,258 | | 246,356 | | Total Members' Equity | | 573,258 | | 451,356 | {13}------------------------------------------------ Ii(k I )rllfirt{}lonrr;(}. (l',\ Erran \$chneid{:r. CPA ![](_page_13_Picture_1.jpeg) Rir'tl lltrrnas. {-ll}.{ Jam\*s l'etrrs. (jPA April 1,2025 To the Board of Directors of Capital City Securities, Lrc Powell,Ohio In connection with our audit of the financial statements and supplemental information of Capital City Securities, LLC (the Company) for the year ended December 31, 2024, we have issued our report thereon dated April 1, 2025. Professional standards require that we provide you with the following information related to our audit. ## Slq nlflcant a nd. CH;tteal flccount:flu .P ollcles antd. tuacttc<, s Management is responsible for the selection and use of appropriate accounting policies. In accordance with the terms of our engagement letter, we will advise management about the appropriateness of accounting policies and their application. The Company's significant accounting policies are disclosed in the notes to the financial statements as required by generally accepted accounting principles pursuant to Rule L7a-5 under the Securities and Exchange Act of 2034. No new accounting policies were adopted and the application of existing accounting policies was not changed during 2A24. We noted no transactions entered into by the Company during the year for which accounting policies are controversial or for which there is a lack of authoritative guidance or consensus or diversity in practice. Critical accounting policies and practices are those that are both most important to the portrayal of the Comparry's financial condition and results and require management's most difficult, subjective, or complex judgments, often as a result of the need to make estimates about the effects of matters that are inherently uncertain. The critical accounting policies used by the Company in its 2O24 financtal statements are described in Note 2 to the financial statements and relate to the potcies the Company uses to account for Securities Transactions and Revenue Recognition. Revenues are completely earned when the transaction occurs. Changes in this pohcy could materially affect the valuation of receivables and revenue in a particular period. ## @ttcgl Accotttrtbtrr Dstbnqteq Accounting estimates are an integral part of the financial statements prepared by management and are based on management's lorowledge and experience about past and current events and assumptions about future events. Critical accounting estimates are estimates for which {1} the natrrre of the estimate is material due to the levels of subjeetivity and judgment necessar5r to aecount for higltly uncertain matters or the susceptibilif of such matters to change and (2) the impact of the estimate on {14}------------------------------------------------ financial condition or operating performance is material. The Company's critical accounting estimates affecting tJ:e financial statements were: Management's revenue recognition policy. Revenues are completely earned when the transaction oecurs. We evaluated the key factors and assumptions used to develop these valuation estimates in deterrnining that it is reasonable in relation to the financial statements taken as a whole. ## Sta ntftcant Aruxt al lYantsactlotts For purposes of this letter, professional standards define significont untrcual transactions as transactions t]:at are outside the normal course of business for the Company or tllat otherwise appear to be unusual due to their timing, sizn or nature. We noted no significant unusual transactions during our audit. ### Rela.led-llrl;ttq Rel,attot\*htos and \*Jgnsarcttorts As part of our audit, we evaluated the Company's identilication of, accounting for, and disclosure of the Company's relationships and transactions with related parties as required by professional standards. We noted no related parties or related-party relationships or transactions tlrat were previously undisclosed to us; signilicant related-party transactions that have not been approved in accordance wi.th the Company's policies or procedures or for which exceptions to tl:e Company's policies or procedures were granted; or significant related-party transactions that appeared to lack a business purpose. ## 9nolltg gf thc Comoo;n?'s Fb,tanoial Reooftltto Management is responsible not only for the appropriateness of the accounting policies and practices, but also for tl:e quality of such policies and practices. Our responsibility under professional standards is to evaluate the qualitative aspects of the comparqt's accounting practices, including potential bias in management's judgments about the amounts and disclosures in the financial statements, and to communicate the results of our evaluation and our conclusions to you. Based on our testing, we noted no issues that require reporting to you. ### Unporrect.ed a nd @npcted Mlsstatements Professional standards require us to accumulate misstatements identified during the audit, other than those that are clearly trivial, and to communicate accumulated misstatements to Eranagement. The attached schedule srrmmarizes the uncorrected misstatements that we presented to management and the corrected misstatements, other than those that are clearly trivial, that, in our judgment, may not have been detected except through .our auditing procedures. In our judgment, none of the misstatements that management has coffected, either individually or in the aggregate, indicate matters that could have a significant effect on the Company's financial reporting process. {15}------------------------------------------------ Management has determined that the effects of tl:e uncorrected misstatements are immaterial, both individually and in the aggregate, to the financial statements as a whole. The uncorrected misstatements or tJ:e matters underlying them could potentially cause future period linancial statements to be materially misstated, even though, in our judgment, such uncorrected misstatements are immaterial to the financial statements under audit. ## Exceptlotts to Excmptlon hoolslotts In connection with our review of the Company's SEC Rule 15c3-3 Exemption Repott, we did not identi\$r any exceptions to the exemption provisions that would cause the Company's assertions not to be fairly stated, in all material respects. ## Dlsasrcenents wlth ilanrg,g enent For purposes of this letter, professional standards deEne a disagreement with management as a matter, whether or not resolved to our satisfaction, concerning a financial accounting, reporting, or auditing matter that could be significant to the financial statements or the auditor's report. We are pleased to report that no disagreements witJ: management arose during the course of our audit. ### Dtfllcrtltte,s Ettcot+ntcred, ln Pertormlno tl,to Audtt We encountered no signilicant difficulties in dealing with management in performing and completing our audit. ### Manta.aemcnc's @ttsultatf;otts utlth Other Accountants In some cases, management may decide to consult with other accountants about auditing and accounting matters. Management informed us that, and to our knowledge, there were no consultations with other accountants regarding auditing and accounting matters. ### @bto Carncerra Pursuant to professional standards, we are required to communicate to you, when applicable, certain matters relating to our evaluation of the entity's ability to continue as a going concern for a reasonable period of time, including the effects on the financial statements and tJle adequacy of the related disclosures, and the effects on the auditor's report. Based on our audit of the Company's financial statements, we do believe that tlrere is a going concern issue. There have been several years of large losses that require significant capital contributions from the owners. Cu:rently, there are no major plans in place to boost profitability. Timely capital contributions have been used to cover excess operating expenses. Our audit report will be modilied with respect to these facts. This report is intended solely for the use of the Audit Committee, Board of Directors, {16}------------------------------------------------ and management of the Company and is not intended to be, and should not be, used by anyone other than these specified parties. HAM CRA Grap, LLC HHH CPA Group, LLC April 1, 2025 {17}------------------------------------------------ ### CAPITAL CITY SECURITITIES, LLC As of December 31, 2024 #### Schedule I Computation of Net Capital Under Rule 15c3 1 of the Securities and Exchange Commission | Total ownership equity qualified | | | | |----------------------------------|-------------------------------------------------------------------|---------|-----------| | | for net capital | | \$573,258 | | Increase (Decrease) | | | | | | Non-allowable assets | | | | | Accounts receivable - related party | 474,107 | | | | Accounts receivable - employee | 17,224 | | | | Other assets | 13,431 | -504,762 | | | | | | | | Haircuts on securities | | | | | Audited Net Capital | | \$68,496 | | | 6 2/3% of Aggregate Indebtedness | | 3,196 | | | Minimum Net Capital Requirement - Greater of \$5,000 or 6 2/3% of | | | | | Aggregate Indebtedness | | 5,000 | | | Excess Net Capital | | 63,496 | | | Net capital less the greater of 120% of the Minimum Net | | | | | Capital Requirement (\$6,000), or 10% of Aggregate | | | | | Indebtedness
\$4,792 | | \$62,496 | {18}------------------------------------------------ #### CAPITAL CITY SECURITIES, LLC As of D€comber 31, 2024 #### SchedulE ll Scfiedule of Aggregate lndebtedness | Accounts payable | s16,125 | |---------------------|---------| | Commissions payable | 31,182 | | Other liabilities | 614 | Ratio of a8gregate indebtedness to net capital O.77 to L {19}------------------------------------------------ #### Schedule III #### Reconciliation with Company's Computation of Net Capital as Included in Part IIA of Form X-17A-5 | Total ownership equity qualified | | | | |----------------------------------------|--------|-----------|--------| | for net capital | | \$573,258 | | | | | | | | Increase (Decrease) | | | | | Non-allowable assets | | | | | Accounts receivable - related party | | 474,107 | | | Accounts receivable - employee | 17,224 | | | | Other assets | 13,431 | -504,762 | | | | | | | | | | | | | Haircuts on securities | | | | | Audited Net Capital | | 68,496 | | | Unaudited Net Capital per Focus Report | | | 58,710 | | | | -\$9,786 | | The difference is due to prepaid expense and accounts payable that were adjusted after the FOCUS report filing. {20}------------------------------------------------ ## Statement on Exemption from Computation of Reserve Requirement and Information for Possession or Control Requirements Under Rule 15c3-3 of The Securities and Exchange Commission In accordance with the exemptive provision of SEC Rule 15c3-3, specifically exemption k(2)(ii), the Company is exempt from computation of a reserve requirement and the information relation to the possession or control requirements. {21}------------------------------------------------ #### SEC Rule 15c3-3 Exemption Report Board of Directors Capital City Securities, LLC Capital City Securities, LLC (the Company) is a registered broker-dealer subject to Rule 17a-5 promulgated by the Securities and Exchange Commission (17 CFR 240.17a-5-"Reports to be made by certain brokers and dealers"). This Exemption Report was prepared as required by 17 CFR 240.17a-5(d)(l) and (4). To the best of its knowledge the Company states the following The Company is exempt from Rule 17 CFR 15c3-3 under provision (k)(2)(ii) of Rule 15c3-3 of the Securities Exchange Act of 1934. The Company met the identified exemption provision identified above throughout the most recent fiscal year ended December 31. 2023, without exception. Capital City Securities, LLC I, Todd Crawford swear (or affirm ) that, to my best knowledge and belief, this Exemption Report is true and correct. Todd Crawford President March 31, 2025 {22}------------------------------------------------ Nick DiBartolomeo, CPA Brian Schneider, CPA ![](_page_22_Picture_1.jpeg) Rick Dumas, CPA James Peters, CPA #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors of Capital City Securities, LLC Powell, Ohio We have reviewed management's statements, included in the accompanying SEC Rule 15c3-3 Exemption Report, in which (1) Capital City Securities, LLC identified the following provisions of 17 C.F.R. §15c3-3(k) under which Capital City Securities, LLC claimed an exemption from 17 C.F.R. §240.15c3-3: (2)(ii) (the "exemption provisions") and (2) Capital City Securities, LLC stated that Capital City Securities, LLC met the identified exemption provisions throughout the most recent fiscal year without exception. Capital City Securities, LLC's management is responsible for compliance with the 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 Capital City Securities, LLC's compliance 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 our review, we are 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 paragraph (k)(2)(ii)) of Rule 15c3-3 under the Securities Exchange Act of 1934. HHH CLA Grap, LLC HHH CPA Group, LLC Columbus, Ohio April 1, 2025 1250 Old Henderson Road, Columbus, OH 43220 | Phone: (614) 451-4644 | Fax: (614) 451-3818 | www.hhhcpagroup.com {23}------------------------------------------------ i\i tcli l]itr]srtolcrx\$r\$, (:]tA Srlail Schrl\*idrr. CF.{ ![](_page_23_Picture_1.jpeg) tik:k lllrm;rs, {jl'A Jamtls l'e(rrs. Cl'A #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUI{TING FIRM To the Board of Direetors of Capital City Securides, LLC Powell, Ohio ### Opinion on the Flnancial Stateneats 'We have audited the accompanying statements of financial condition of Capita.l City Securities, LLC (an Ohio limited liability corporation) as of December 31,2A24 and2023, and the related statements of operations, changes in member's equity and cash flows for tJle years then ended, and the related notes and schedules (collectively referred to as tJ,e financial statements). In our opinion, the financial statements present fairly, in a1l material respects, the fina:ecial position of Capital City Securities, LLC as of December 31, 2424 and 2023, and the results of its operations and its cash flows for the years then ended in conformity with accounting principles generally accepted in tJle United States of America. ### Basis for Opinion These financial statements are the responsibilit5r of Capital City Securities, LLC's management. Our responsibility is to oMEMBER NAME | | SEC No.
8-67771 | | |---|-----------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------|-----------------------|---------------| | | | CAPITAL CITY SECURITIES LLC
For the fiscal period beginning 1/1/2024 | | and ending 12/31/2024 | | | 1 | | Total Revenue (FOCUS Report - Statement of Income (Loss) - Code 4030) | | | \$ 594,731.00 | | 2 | Additions: | | | | | | | | a Total revenues from the securities business of subsidiaries (except foreign | | | | | | | subsidiaries) and predecessors not included above. | | \$ 0.00 | | | | | b Net loss from principal transactions in securities in trading accounts. | | \$ 0.00 | | | | | c Net loss from principal transactions in commodities in trading accounts. | | \$ 0.00 | | | | | d Interest and dividend expense deducted in determining item 1. | | \$ 0.00 | | | | distribution of securities. | e Net loss from management of or participation in the underwriting or | | \$ 0.00 | | | | | f Expenses other than advertising, printing, registration fees and legal fees | | | | | | | deducted in determining net profit management of or participation in
underwriting or distribution of securities. | | \$ 0.00 | | | | | g Net loss from securities in investment accounts. | | \$ 0.00 | | | | | h Add lines 2a through 2g. This is your total additions. | | | \$ 0.00 | | 3 | Add lines 1 and 2h | | | | \$ 594,731.00 | | | | | | | | | 4 | Deductions: | a Revenues from the distribution of shares of a registered open end investment
company or unit investment trust, from the sale of variable annuities, from the
business of insurance, from investment advisory services rendered to
registered investment companies or insurance company separate accounts | | \$ 362,825.00 | | | | | and from transactions in security futures products. | | \$ 0.00 | | | | | b Revenues from commodity transactions.
c Commissions, floor brokerage and clearance paid to other SIPC members | | | | | | | in connection with securities transactions. | | \$ 70,267.00 | | | | | d Reimbursements for postage in connection with proxy solicitations. | | \$ 0.00 | | | | | e Net gain from securities in investment accounts. | | \$ 1,218.00 | | | | | f 100% commissions and markups earned from transactions in (1) certificates
of deposit and (ii) Treasury bills, bankers acceptances or commercial paper
that mature nine months or less from issuance date. | | \$ 0.00 | | | | | g Direct expenses of printing, advertising, and legal fees incurred in connection
with other revenue related to the securities business (revenue defined by
Section 16(9)(L) of the Act). | | \$ 0.00 | | | | | h Other revenue not related either directly or indirectly to the securities business. | | \$ 41,514.00 | | | | | Deductions in excess of \$100,000 require documentation | | | | | | | 5 a Total interest and dividend expense (FOCUS Report - Statement
of Income (Loss) - Code 4075 plus line 2d above) but | | | | | | | not in excess of total interest and dividend income | \$ 0.00 | | | | | Code 3960) | b 40% of margin interest earned on customers securities accounts
(40% of FOCUS Report - Statement of Income (Loss) - | \$ 0.00 | | | | | | c Enter the greater of line 5a or 5b | | \$ 0.00 | | | 6 | | Add lines 4a through 4h and 5c. This is your total deductions. | | | \$ 475,824.00 | {26}------------------------------------------------ SECURITIES INVESTOR PROTECTION CORPORATION SIPGT 37 RAn A722 #### GENERAL ASSESSMENT FORIi Forthe fiscal Year ended 1Z?112024 | | 7
Subtract line 6 ftom line 3. This is your SIPC Net Operatlng Revenues.
I
Multiply line 7 by .0015. This is your GeneralAssessment. | | | | \$ 118,907.00
\$ 178.00 | | |------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------|----------------------------------|--------------------------------------|--| | | | | | | | | | 9 | Cunent overpaymenUcledit balance, if any | | | | \$ 0.00 | | | l0 | | Generalassessmentfrom lastfiled 2024 SIPG6 or6A | | \$ 92.00 | | | | | b Any other overpaynents applied
d Add lines 11a through 11c | 11 a Overpayment(s) applied on a\$ 2424 SIPGO and 6A(s)
c Allpaymentrs applied tor 2024 SIPC6 and 6A(s) | \$ 0.00
\$ 0.00
\$ 92.00 | \$ 92.00 | | | | 12 LESSER of line 10 or 11d. | | | | | \$ 92.00 | | | 15 | 13 a AmountfromlineS
b Amountftom line 9
c Amountftom line 12 | d Subtract lines 1 3b and 1 3c from 13a. This is your assessment balance due.
14 lnterest (see instructions) for 0
days late al2Qo/o per annum
ore SIPC. Add lines 13d and 14. | | \$ 178.00
\$ 0.00
\$ 92.00 | \$ 86.00
\$ o.oo
\$
\$ 0.00 | | | 16 | | Overpayment/credit canied forward (if applicable) | | | | | | | SEC No.
8-67771 | Designated Examining Authority
DEA: FINRA
MEMBER NAME CApITAL Ct1y
SECURTTTES LLC
MAILING ADDRESS 3789 ATTUCKS DR
POWELL, OH 43065
UNITED STATES | FYE
2024 | Month
Dec | | | Subsidiaries (S) and predecessors (P) induded in the form (give name and SEC number) By checking this box, you ceffi that you have the authority of he SIPC member to sign this form; that all information in this form is true and complete; ard that on behalf of the SIPC member, you are authorized, and do hereby consent, to the storage and handling by SIPC of the data in acordance with SIPCs Privacy Polkry | CAPITAL CITY SECURITIES LLC | TODD EDWARD CRAWFORD | | |-----------------------------|-----------------------------------|--| | (Name of SIPC Member) | (Author2ed Signatory) | | | A2812025 | tecraMord@capitalcitypartners.com | | | (Date) | (emailaddress) | | | | | | Completion of the'Authorized Signatory" line will be deemed a signature. This form and tte ass essment payment are due 60 days after the end'of the fiscal year. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.