# GROWTH VENTURE PARTNERS, LLC X-17A-5 (2021-05-24) — Broker-dealer annual report - Company: GROWTH VENTURE PARTNERS, LLC - Form: X-17A-5 - Filed: 2021-05-24 - Period: 2021-03-31 - Accession: 0001442139-21-000002 - CIK: 1442139 - File #: 8-67974 - Material weakness: No - Auditor: Ohab & Company, PA - Auditor location: Maitland, FL - Contact: Elyahu Gabay - Phone: 305-600-3220 - Email: pam@ohabco.com - Website: ohabco.com - Signed by: Eli Gabay (CEO & Managing Director) Original filing: https://www.sec.gov/Archives/edgar/data/1442139/000144213921000002/A.pdf --- {0}------------------------------------------------ # PUBLIC QMB APPROVAL IQ\_MB Number. 3235-0123 Expires: October 31 , 2023 Estimated average burden b\_ours\_Q\_er re~onse ..... 12.00 | | SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 | | b_ours_Q_er re~onse 12.00 | | |---------------------------------------------------------------------------------------------|--------------------------------------------------------------------------|------------|-----------------------------|--| | | ANNUAL AUDITED REPORT | | SEC FILE NUMBER | | | FORM X-17 A-5
PART Ill | | | | | | | | | 8-67974 | | | Information Required of Brokers and Dealers Pursuant to Section 17 of the | FACING PAGE
Securities Exchange Act of 1934 and Rule 17a-5 Thereunder | | | | | ___
REPORT FOR THE PERIOD BEGINING _ | __
A_P_R_IL_I~,_20_2_0 _ | AND ENDING | MARCH 31, 2021 | | | | MM/DD/YY | | MM/DD/YY | | | | A. REGISTRANT IDENTIFICATION | | | | | NAME OF BROKER DEALER: | GROWTH VENTURE PARTNERS, LLC | | OFFICAL USE ONLY | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use P.O. Box No.) | | | FIRM ID. NO. | | | | 1930 SKI SLOPE CIRCLE | | | | | | (No. and Street) | | | | | LAS VEGAS | NV | | 89117 | | | (City) | (State) | | (Zip Code) | | | NAME AND TELEPHONE NUMBER OF PERSON TO CONTACT IN REGARD TO THIS REPORT
ELI GABAY | | | 305-904-9900 | | | | | | (Area Code - Telephone No.) | | | | B. ACCOUNTANT DESIGNATION | | | | | INDEPENDENT PUBLIC ACCOUNT ANT whose opinion is contained in this Report* | | | | | | | OHAB AND COMPANY, PA | | | | | | (Name - if individual, state last, first, middle name) | | | | | 100 E. SYBELIA A VENUE, SUITE 130, MAITLAND | | FLORIDA | 32751 | | | (Address and City) | | (State) | (Zip Code) | | | CHECK ONE: | | | | | | IXl Certified Public Accountant | | | | | | D Public Accountant
D Accountant not resident in United States or any of its possessions | | | | | | | | | | | | | FOR OFFIC~L USE ONLY | | | | | | | | | | UNITED STATES *\*Claims for exemption from the requirement that the annual audit be covered by the opinion of an independent public accountant must be supported by a statement of f acts and circumstances relied on as the basis for the exemption. See section 240. l 7a-5(e)(2).* > Potential persons who are to respond to the collection of information contained in this form are required to respond unless the form displays a current valid OMB control number. SEC 1410 (11 -05) {1}------------------------------------------------ # OATH OR AFFIRMATION | I, | ELI GABAY | , swear (or affinn) that, to the | |------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | best of my knowledge and belief the accompanying financial statement and supporting schedules pertaining to the firm or | | | GROWTH VENTURE PARTNERS, LLC | , as of | | MARCH
a customer, except as follows: | 31,
2021 | are true and correct. I further swear (or affinn) that neither the company
nor any partner, proprietor, principal officer or director has any proprietary interest in any account classified solely as that of | | | | | | | | | | | | | | | | | | | | PRESIDENT | | | | Title | | | | | | | Public Notary |
Vaida Franklin
NOTARY PUBLIC
STATE OF NEVADA
Appl. No. 21-8104-01
My Appt. Expires: March 18, 2025 | | This report** contains (check all applicable boxes);
181 (a) Facing page. | | | | D (b) Statement ofFinancial Condition. | | | | | Income (as defined in §210.1-02 of Regulation S-X). | D (c) Statement oflncome (Loss) or, ifthere is other comprehensive income in the period(s) presented, a Statement of Comprehensive | | D (d) Statement of Changes in Financial Condition. | | | | | D (e) Statement of Changes in Stockholders' Equity or Partners' or Sole Proprietor's Capital.
D (t) Statement of changes in Liabilities Subordinated to Claims of Creditors. | | | D (g) Computation of Net Capital. | | | | | D (h) Computation for Determination of Reserve Requirements Pursuant to Rule I 5c3-3. | | | | D (i) Information Relating to the Possession or control Requirements Under Rule I 5c3-3. | | | | | D G) A Reconciliation, including appropriate explanation of the Computation of Net Capital Under Rule l 5c3-I and the | | | Computation for Determination of the Reserve Requirements Under Exhibit A of Rule 15c3-3. | | | solidation. | | D (k) A Reconciliation between the audited and unaudited Statements of Financial Condition with respect to methods of con | | ~ (I) An Oath or Affirmation. | | | | D (m) A copy of the SIPC Supplemental Report. | | | | | | D (n) A report describing any material inadequacies found to exist or found to have existed since the date of the previous audit. | | | | | | | **For conditions of confidential treatment of certain portions ofihisflling, see section 240. I 7a-5(e)(3). | | {2}------------------------------------------------ #### **FINANCIAL STATEMENTS** **MARCH 31, 2021** {3}------------------------------------------------ ![](_page_3_Picture_0.jpeg) I 00 E. Sybelia Ave. Suite 130 Maitland, FL 32751 *Certified Public Accountants* Email: pam@ohabco.com Telephone 407-740-7311 Fax 407-740-6441 # REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Stockholder's of Growth Venture Partners, LLC ### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of Growth Venture Partners, LLC as of March 31, 2021, 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 Growth Venture Partners, LLC as of March 31, 2021 in conformity with accounting principles generally accepted in the United States of America. # **Basis for Opinion** This financial statement is the responsibility of Growth Venture Partners, LLC's management. Our responsibility is to express an opinion on Growth Venture Partners, LLC'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 Growth Venture Partners, LLC in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. 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 opinion. f}--/<-eAJ ~ ~ ,qfl- We have served as Growth Venture Partners, LLC's auditor since 2016. Maitland, Florida May 7, 2021 {4}------------------------------------------------ # **STATEMENT OF FINANCIAL CONDITION For The Year Ended March 31, 2021** #### **ASSETS** | Assets: | | | |--------------------------------------------------------------|----|----------| | Cash and cash equivalents | \$ | 13,792 | | Prepaid expenses | | 637 | | Other Assets | | 1 | | Total assets: | \$ | 14,430 | | LIABILITIES | | | | Current Liabilities: | | | | Accounts Payable | \$ | 387 | | Total liabilities: | | 387 | | STOCKHOLDER'S EQUITY | | | | Stockholders' equity: | | | | Common stock, \$0.50 par value; 1,000,000 shares authorized, | | | | 200 issued and outstanding | | 100 | | Additional paid-in capital | | 112,130 | | Distributions | | (92,948) | | Retained earnings | | (5,239) | | Total shareholders' equity: | | 14,043 | | Total liabilities and shareholders' equity: | | 14,430 | The accompanying notes are an integral part of these financial statements {5}------------------------------------------------ ## **NOTES TO FINANCIAL STATEMENTS MARCH 31, 2021** ## **Note 1 – Summary of Significant Accounting Policies** #### *Nature of Business* Growth Venture Partners, LLC ("the Company") is a securities broker-dealer, registered with the Securities Exchange Commission ("SEC"), a member of the Financial Industry Regulatory Authority ("FINRA"), and a member of the Securities Investor Protection Corporation ("SIPC"). The Company was originally formed on April 15, 2008 as a single member limited liability company. Effective February 27, 2009, the Company incorporated in the state of Florida and continued its operations as a corporation. Effective April 20, 2016, the Company has domesticated in Nevada and converted to Growth Venture Partners, LLC. The Company is approved to conduct business in the areas of private placements and merger and acquisition transactions. The Company additionally provided consulting services for which an hourly fee is charged. As is typical in the industry, the Company engages in activities with various financial institutions and brokers. In the event these counter parties do not fulfill their obligations, the Company may be exposed to risks. #### *Cash and Cash Equivalents* For purposes of reporting the statement of cash flows, the Company considers all cash accounts, which are not subject to withdrawal restrictions or penalties, and all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents. Cash balances in excess of FDIC and similar insurance coverage are subject to the usual banking risks associated with funds in excess of those limits. At March 31, 2021, the Company had no uninsured cash balances. ## *Estimates* The preparation of financial statements in accordance 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 revenues and expenses during the reporting period. Actual results could differ from those estimates. # *Income Taxes* The Company, with the consent of its shareholder, has elected under the Internal Revenue Code to be an S Corporation for both federal and state income tax purposes. In lieu of corporation income taxes, the shareholders of an S Corporation are taxed on their proportionate share of the Company's taxable income. Therefore, no provision or liability for federal or state income taxes has been included in the financial statements. The Company has adopted the provisions of FASB Accounting Standards Codification 740-10, Accounting for Uncertainty in Income Taxes. Under ASC 740-10, the Company is required to evaluate each of its tax positions to determine if they are more likely than not to be sustained if the taxing authority examines the respective position. A tax position includes an entity's status, including its status as a pass-through entity, and the decision not to file a tax return. The Company has evaluated each of its tax positions and has determined that no provision or liability for income taxes is necessary. The shareholders and the Company are generally not subject to U.S. federal, state or local income tax examinations related to the Company's activities for tax years before 2017. {6}------------------------------------------------ # **NOTES TO FINANCIAL STATEMENTS MARCH 31, 2021** # **Note 1 – Summary of Significant Accounting Policies (continued)** ### *Fair Value of Financial Instruments* All of the Company's financial assets and liabilities are carried at market value or at amounts, which, because of their short-term nature, approximate current fair value. #### *Revenue Recognition* Revenue from contracts with customers includes fees from consulting services. The recognition and measurement of revenue is based on the assessment of individual contract terms. Significant judgment is required to determine whether performance obligations are satisfied at a point in time or over time; how to allocate transaction prices where multiple performance obligations are identified; when to recognize revenue based on the appropriate measure of the Company's progress under the contract; whether revenue should be presented gross or net of certain costs; and whether constraints on variable consideration would be applied due to uncertain future events. ## *Advisory Fees* The Company provides advisory services. Revenue for advisory arrangements is generally recognized at the point in time that performance under the arrangement is completed (the closing date of the transaction) or the contract is cancelled. However, for certain contracts, revenue is recognized over time for advisory arrangements in which the performance obligations are simultaneously provided by the Company and consumed by the customer. In some circumstances, significant judgment is needed to determine the timing and measure of progress appropriate for revenue recognition under a specific contract. Retainers and other fees received from customers prior to recognizing revenue are reflected as contract liabilities. At March 31, 2021, all amounts were immaterial. ## **Note 2 – Net Capital Requirements** The Company is subject to the Securities and Exchange Commission's Uniform Net Capital Rule (Rule15c3- 1), which requires the maintenance of minimum net capital at an amount 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 not to exceed 15 to 1. At March 31, 2021, the Company had excess net capital of \$8,405 and a net capital ratio of 2.89% to 1. ## **Note 3 – Financial Instruments with Off-Balance Sheet Risk and Concentrations of Credit Risk** The Company's future operating results may be affected by several factors. The overall downturn of the general and local economic, political and social conditions can affect the Company. ## **Note 4 – Related party transactions** The Company occupies space in a residence owned by the shareholder and is not paying rent. For the year ended March 31, 2021, the Company continued its agreement with a related party to provide consulting services. The owner of the Company has a 40% ownership with the related party. The fee income received from this Agreement amounted to \$0, which is included in consulting fees. {7}------------------------------------------------ # **NOTES TO FINANCIAL STATEMENTS MARCH 31, 2021** ## **Note 5 – Concentration** No customer accounted for 100% of revenue during the year ended March 31, 2021. ## **Note 6 – Company Conditions** The Company has a loss of \$5,749 for the year ending March 31, 2021, and has received capital contributions from ownership for working capital. The Company's owner has represented that he intends to continue making capital contributions, as needed, to ensure the Company's continuing operations. The owner has the financial wherewithal to continue contributing, as required. Management expects the Company to continue as a going concern and the accompanying financial statements have been prepared on a going-concern basis without adjustments for realization in the event the Company ceases to continue as a going concern. #### **Note 7 – Commitments and Contingencies** The Company does not have any commitments or contingencies as of the year ended March 31, 2021. ## **Note 8 – Subsequent Events** The Company has evaluated subsequent events through the date the financial statements were available to be issued and has determined that the Company had no events occurring subsequent to March 31, 2021 requiring disclosure. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.