# K CAPITAL LLC X-17A-5 (2025-03-07) — Broker-dealer annual report - Company: K CAPITAL LLC - Form: X-17A-5 - Filed: 2025-03-07 - Period: 2024-12-31 - Accession: 0001433656-25-000001 - CIK: 1433656 - File #: 8-67884 - Type: Broker-dealer - Material weakness: No - Auditor: Spicer Jeffries LLP - Auditor location: Denver, CO - Contact: Michael Brown - Phone: 404-303-8840 - Email: mobrown@bdsolutions.com - Website: bdsolutions.com - Signed by: Michael Brown (Chief Executive Officer) Original filing: https://www.sec.gov/Archives/edgar/data/1433656/000143365625000001/KC2024PUBLIC.pdf --- {0}------------------------------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OMB APPROVAL OMB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 # ANNUAL REPORTS FORM X-17A-5 PART III sec file number 8-67884 | | 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 01/01/24
12/31/24 | | | | | | | | | MM/DD/YY | | MM/DD/YY | | | | | A. REGISTRANT IDENTIFICATION | | | | | | | | name of firm: K Capital LLC | | | | | | | | TYPE OF REGISTRANT (check all applicable boxes):
■ Broker-dealer
□ Check here if respondent is also an OTC derivatives dealer | | | | | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | | | | | 805 3rd Ave, Floor 14 | | | | | | | | | (No. and Street) | | | | | | | New York | NY
10022 | | | | | | | (City) | (State) | | (Zip Code) | | | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | | Michael Brown | 404-303-8840
mobrown@bdsolutions.com | | | | | | | (Name) | (Area Code - Telephone Number) | (Email Address) | | | | | | | B. Accountant Identification | | | | | | | NDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
Spicer Jeffries LLP | | | | | | | | | (Name - if individual, state last, first, and middle name) | | | | | | | 4601 DTC Blvd., Suite 700 | Denver | CO | 80237 | | | | | Address)
10/20/03 | (City) | (State)
349 | (Zip Code) | | | | | | | (PCAOB Registration Number, if applicable) | | | | | | Date of Registration with PCAOB)(if applicable) | FOR OFFICIAL USE ONLY | | | | | | 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 OR AFFIRMATION swear (or affirm) that, to the best of my knowledge and belief, the 1. Michael Brown financial report pertaining to the firm of K Capital LLC . as of 12/31 2 024 is true and correct. I further swear (or affirm) that neither the company nor any partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely CHStamera A BENGIE MAR SOLON DIAMOS Notary Public - State of Georgia Forsyth County My Commission Expires Feb 18, 2026 Title. Chief Executive Officer #### This filing \*\* contains (check all applicable boxes): - (a) Statement of financial condition. - (b) Notes to consolidated statement of financial condition. - [c) Statement of income (loss) or, if there is other comprehensive 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. - [ (f) Statement of changes in liabilities subordinated to claims of creditors. - [g) Notes to consolidated financial statements. - [ (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. - [] Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - [] (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. - [1) Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3. - [ (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - [1] 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. - [0] 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. - [ {p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - (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. - [ (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. - [] (u) Independent public accountant's report based on an examination of the financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - [] (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. - [ [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. - [x] Supplemental reports on applying agreed upon procedures, in accordance with 17 CFR 240.17-12, as applicable. - [] (y) Report describing any material inadequacies 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). - (z) Other: - \*\* To request confidential treatment of certain portions of this filing, see 17 CFR 240.170-5(e)(3) or 17 CFR 240.180-7(d)(2), as applicable. {2}------------------------------------------------ # STATEMENT OF FINANCIAL CONDITION # YEAR ENDED 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 | Report of Independent Registered Public Accounting Firm | | | |---------------------------------------------------------|--|--| | Statement of Financial Condition | | | | Notes to Financial Statements | | | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) !"#\$%&'()\*#+%, %-&%(. "\$"('"/01, %\$%23"-%45116,718979 :';45116,71811/ <<<=>?@ABCDBEEC@B>=AFG # KbcdcededfghMcdidjcikRfifhlhdfm nBZ[oB[p\@YB\YZB[AAFG?[]q@]r>Y[YBGB]YFEE@][]A@[aAF]\@Y@F]FE` [?@Y[a\$\$ 5YZBs FG?[]qt6 [>FEBABG\_BC1.00.[]\YZBCBa[YB\]FYB>YFYZB>Y[YBGB]YFEE@][]A@[aAF]\@Y@F]=+]FpCF?@]@F].YZB E@][]A@[a>Y[YBGB]Y?CB>B]Y>E[@Caq.@][aaG[YBC@[aCB>?BAY>.YZBE@][]A@[a?F>@Y@F]FEYZB FG?[]q[>FE HIJKHLKMNOPIJIOPIOLHIQNRLIHIPJSTUNVWVVKSOLNOQMNHX FYZB!F[C\FE@CBAYFC>[]\^BG\_BCFE ` [?@Y[a\$\$ BABG\_BC1.00@]AF]EFCG@Yq<@YZ[AAFp]Y@]r?C@]A@?aB>rB]BC[aaq[AAB?YB\@]YZB#]@YB\\*Y[YB>FE 'GBC@A[= TimcmuevKbcdced Z@>E@][]A@[a>Y[YBGB]Y@>YZBCB>?F]>@\_@a@YqFEYZB FG?[]qw>G[][rBGB]Y="pCCB>?F]>@\_@a@Yq@>YF Bx?CB>>[]F?@]@F]F]YZB FG?[]qw>E@][]A@[a>Y[YBGB]Y\_[>B\F]FpC[p\@Y=nB[CB[?p\_a@A[AAFp]Y@]r E@CGCBr@>YBCB\<@YZYZB2p\_a@A FG?[]q'AAFp]Y@]r"oBC>@rZY!F[C\5#]@YB\\*Y[YB>652 '"!6[]\[CB CByp@CB\YF\_B@]\B?B]\B]Y<@YZCB>?BAYYFYZB FG?[]q@][AAFC\[]AB<@YZYZB#=\*=EB\BC[a>BApC@Y@B> a[<>[]\YZB[??a@A[\_aBCpaB>[]\CBrpa[Y@F]>FEYZB\*BApC@Y@B>[]\%xAZ[]rB FGG@>>@F][]\YZB2 '"!= nBAF]\pAYB\FpC[p\@Y@][AAFC\[]AB<@YZYZB>Y[]\[C\>FEYZB2 '"!=ZF>B>Y[]\[C\>CByp@CBYZ[YF][\_aB[>>pC[]AB[\_FpYY[YBGB]Y@>ECBBFE G[YBC@[aG@>>Y[YBGB]Y.YF[>>B>> YZBC@>z>FEG[YBC@[aG@>>Y[YBGB]YFEYZBE@][]A@[a>Y[YBGB]Y.YZ[YCB>?F]\YFYZF>BC@>z>=\*pAZ?CFAB\pCB>@]Aap\B\Bx[G@]@]r.F][YB>Y\_[>@>.Bo@\B]AB CBr[C\@]rYZB[GFp]Y>[]\\@>AaF>pCB>@]YZBE@][]A@[a>Y[YBGB]Y="pC[p\@Y[a>F@]Aap\B\Bo[ap[Y@]rYZB [AAFp]Y@]r?C@]A@?aB>p>B\[]\>@r]@E@A[]YB>Y@G[YB>G[\B\_qG[][rBGB]Y.[>Bo[ap[Y@]rYZB FoBC[aa?CB>B]Y[Y@F]FEYZBE@][]A@[a>Y[YBGB]Y=nB\_Ba@BoBYZ[YFpC[p\@Y?CFo@\B>[CB[>F][\_aB\_[>@>EFC FpCF?@]@F]= nBZ[oB>BCoB\[>` [?@Y[a\$\$ >[p\@YFC>@]AB0= B]oBC. FaFC[\F :B\_Cp[Cq0.007 ![](_page_4_Picture_12.jpeg) {5}------------------------------------------------ #### STATEMENT OF FINANCIAL CONDITION # DECEMBER 31, 2024 #### ASSETS | Total assets | | \$ 237,504 | |--------------------------|---|------------| | Other assets | | 107 | | Due from Parent (Note 3) | | 181.800 | | Cash | ക | 55.597 | # LIABILITIES AND MEMBER'S EQUITY | Total liabilities and member's equity | | \$ 237,504 | |-----------------------------------------------|---|------------| | MEMBER'S EQUITY | | 237.504 | | COMMITMENTS AND CONTINGENCIES (Notes 3 and 4) | | | | Total liabilities | | | | Accounts Payable | S | | | LARILITIES. | | | The accompanying notes are an integral part of this statement. {6}------------------------------------------------ #### NOTES TO FINANCIAL STATEMENTS #### NOTE 1- ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES #### Organization and Business K Capital LLC (the "Company") was formed in the state of Delaware on March 14, 2011, and is a wholly owned subsidiary of Kinetic Advisors LLC. The Company's objective is to assist business clients in the areas of private placements, mergers and acquisitions, oil and gas interests and limited partnerships. The Company is registered with the Securities and Exchange Commission ("SEC") and is a member of the Financial Industry Regulatory Authority, Inc. ("FINRA"). #### 15c3-3 Exemption The Company carries no customer funds or securities and therefore is exempt from the reserve and possession or control requirements under Rule 15c3-3 of the Securities Exchange Act of 1934. The Company identified the provisions of Footnote 74 under which the Company is not required to claim an exemption from 17 C.F.R. §240.15c3-3. The Company met the identified provisions of Footnote 74 for the year ended December 31, 2024. #### Revenue Recognition Revenue is recognized in accordance with Financial Accounting Standards Board ("FASB") Accounting Standard Update, ("ASU") 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09"). The core principle of ASU 2014-09 is that an entity shall recognize revenue when the transfer of goods or services to the customer has been satisfied. To determine this, the following five steps are utilized: (i) identify the contract(s) with the customer; (i) identify the various performance obligation(s) in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the various performance obligation(s) in the contract and (v) recognize revenue as the performance obligation(s) are satisfied. #### 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 reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. {7}------------------------------------------------ #### NOTES TO FINANCIAL STATEMENTS (continued) #### NOTE 1- ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (concluded) #### Income Taxes The Company is recognized as a disregarded entity by the Internal Revenue Service. The Member of the Company is liable for federal and state income taxes on the Company's taxable income. The Company, through its Member, is subject to New York City Unincorporated Business Tax. 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, through its Member, 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 2021. 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 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. #### Recently Issued Accounting Pronouncements The FASB has issued Accounting Standards Update (ASU) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, to improve disclosures about a public entity's reportable segments and address requests from investors and other allocators of capital for additional, more detailed information about a reportable segment's expenses. The guidance in FASB ASU 2023-07 is effective for all public entities for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and should be applied retrospectively to all periods presented in financial statements. The Company has adopted ASU No. 2023-07 and it did not have a material impact to the Company's financial statements. {8}------------------------------------------------ #### NOTES TO FINANCIAL STATEMENTS (concluded) #### NOTE 2 - 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. On December 31, 2024, the Company had net capital and net capital requirements of \$55,597 and \$5,000, respectively. The Company's net capital ratio (aggregate indebtedness to net capital) was 0.00 to 1. According to Rule 15c3-1, the Company's net capital ratio shall not exceed 15 to 1. #### NOTE 3-RELATED PARTY TRANSACTIONS AND COMMITMENTS The Company has entered into an expense sharing agreement with its Parent. Under the terms of this agreement, the Company pays various shared expenses including rent, utilities, salaries, marketing and advertising, professional and other miscellaneous expenses. Total of such expenses under this agreement were \$18,510 per month for the year ended December 31, 2024. The Company expensed \$222,120 in accordance with its expense sharing agreement. As of December 31, 2024, the Company had a due from Parent balance of \$181,800. # NOTE 4 - FINANCIAL INSTRUMENTS, OFF-BALANCE SHEET RISK AND CONTINGENCIES The Company is engaged in business with various counterparties. In the event that counterparties do not fulfill their obligations, the Company may be exposed to risk. The risk of default depends on the creditworthiness of the counterparty. It is the Company's policy to review as necessary, the credit standing of each counterparty with which it conducts business. The Company maintains its cash balance in a financial institution, which at times may exceed federally insured limits. As of December 31, 2024, the Company did not hold cash in excess of the federally insured limit. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk. The Company's financial instruments, including cash, other assets, and due from Parent are carried at amounts that approximate fair value due to the short-term nature of those instruments. #### 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.