# MOORGATE SECURITIES LLC X-17A-5 (2026-03-31) — Broker-dealer annual report - Company: MOORGATE SECURITIES LLC - Form: X-17A-5 - Filed: 2026-03-31 - Period: 2025-12-31 - Accession: 0001472676-26-000001 - CIK: 1472676 - File #: 8-68393 - Type: Broker-dealer - Material weakness: No - Auditor: WithumSmith Brown, PC - Auditor location: Whippany, NJ - Contact: Michael Alexander - Phone: 212 555 3898 - Email: michael-alexander@moorgatepartners.com - Website: moorgatepartners.com - Signed by: Michael Alexander (Member) Original filing: https://www.sec.gov/Archives/edgar/data/1472676/000147267626000001/moorgatepublic.pdf --- {0}------------------------------------------------ # **MOORGATE SECURITIES LLC** STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2025 {1}------------------------------------------------ **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** OMB APPROVAL OMB Number: ϯϮϯϱͲϬϭϮϯ Expires: EŽǀ͘ϯϬ͕ϮϬϮϲ Estimated average burden hours per response: > SEC FILE NUMBER 8-68393 # **ANNUAL REPORTS FORM X-17A-5 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 \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ AND ENDING \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ 01/01/2025 12/31/2025 MM/DD/YY MM/DD/YY **A. REGISTRANT IDENTIFICATION** #### NAME OF FIRM: \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ Moorgate Securities LLC 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.) #### \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ 1686 Union Street # 307 | | (No. and Street) | | | | | | | | | |-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------|---------|----------------------------------------|--|--|--|--|--|--| | San Francisco
_____________________________________________________________________________________ | CA | | 94123 | | | | | | | | (City) | (State) | | (Zip Code) | | | | | | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | | | | | Michael Alexander
_____________________________________________________________________________________ | 212 555 3898 | | Michael-Alexander@MoorgatePartners.com | | | | | | | | (Name) | (Area Code – Telephone Number) | | (Email Address) | | | | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
WithumSmith+Brown, PC
_____________________________________________________________________________________
(Name – if individual, state last, first, and middle name) | | | | | | | | | | | 200 Jefferson Park, Suite 400
_____________________________________________________________________________________ | Whippany | NJ | 07981 | | | | | | | | (Address) | (City) | (State) | (Zip Code) | | | | | | | | 10-08-2003
_____________________________________________________________________________________ | | 100 | | | | | | | | | (Date of Registration with PCAOB)(if applicable) | (PCAOB Registration Number, if applicable) | | | | | | | | | | FOR OFFICIAL USE ONLY | | | | | | | | | | | | | | | | | | | | | \* Claims for exemption from the requirement that the annual reports be covered by the reports of an independent public accountant must be supported by a statement 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.** {2}------------------------------------------------ | | Michael Alexander
3:::::::::::::::::::::::::::::::3 +/* ;'* !*%< , ,3 ,' , +, ' %1 #&'/\$ & \$!3 , !&&!\$ | | | | | | | | | | | | | |----------|----------------------------------------------------------------------------------------------------------------|----|---|-----|-----|-------------------------|--|--|--|---------------------------------------------------------------|--|---|---| | *('*, | (*,!&!& | ,' | , | !*% | ' | Moorgate Securities LLC | | | | ::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::3 | | + | ' | | December | 31 | | | | 025 | | | | | | | | | - - - - - - - - - - - - - - - - - - - - - - - - - - - {3}------------------------------------------------ ## **MOORGATE SECURITIES, LLC** #### **DECEMBER 31, 2025** #### **TABLE OF CONTENTS** | | PAGE | |---------------------------------------------------------|------| | Report of Independent Registered Public Accounting Firm | | | Statement of Financial Condition | 2 | | Notes to the Financial Statement | 3-5 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) ### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Managing Member of Moorgate Securities LLC: #### Opinion on the Financial Statement We have audited the accompanying statement of financial condition of Moorgate Securities LLC (the "Company") as of December 31, 2025, 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 the Company as of December 31, 2025, in conformity with accounting principles generally accepted in the United States of America. #### Basis for Opinion This financial statement is the responsibility of the Company's management. Our responsibility is to express an opinion on this 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 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. 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 statement. 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 statement. We believe that our audit provides a reasonable basis for our opinion. We have served as the Company's auditor since 2014. Whippany, New Jersey March 30, 2026 {5}------------------------------------------------ # **MOORGATE SECURITIES, LLC STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2025** #### **ASSETS** | Cash | \$
146,105 | |---------------------------------------|---------------| | Service fee receivable | 20,000 | | Prepaid expenses and other assets | ll,881 | | Total Assets | \$
177,986 | | LIABILITIES AND MEMBER'S EQUITY | | | Liabilities | | | Due to Parent | \$
63,655 | | Accrued expenses | 2,137 | | Total Liabilities | 65,792 | | Member's equity | 112,194 | | Total Liabilities and Member's Equity | \$
177,986 | | | | See notes to the financial statement {6}------------------------------------------------ # **MOORGATE SECURITIES, LLC NOTES TO THE FINANCIAL STATEMENT DECEMBER 31, 2025** ### **1. ORGANIZATION AND DESCRIPTION OF BUSINESS** Moorgate Securities LLC, (the "Company") is a limited liability company organized under the laws of the State of Delaware on April 28, 2009. The Company is wholly owned by Moorgate Capital Partners LLC (the "Parent"). The Company's operations consist primarily of financial advisory and private capital raises for corporate clients. On April 10, 2010, the Company became a registered broker-dealer with the Securities and Exchange Commission ("SEC") and a member of the Financial Industry Regulatory Authority. ### **2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** #### *Basis of Presentation* The financial statement has been prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"). #### *Use of estimates* The preparation of the financial statement in conformity with U.S. GAAP 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 statement. Actual results could differ from those estimates. #### *Cash* The Company maintains cash in bank account with a single financial institution. The balance is insured by the Federal Deposit Insurance Corporation for up to \$250,000. From time to time, the balance in this account may exceed the federally insured limits. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company's financial condition, results of operations, and cash flows. #### *Service fee receivable and contract assets and liabilities* Service fee receivables are carried at cost less an allowance for credit losses. The Company complies with Accounting Standards Codification ("ASC") Topic 326, *Financial Instruments* - *Credit Losses* ("ASC 326"). ASC 326 impacts the impairment model for certain financial assets measured at amortized cost by requiring a current expected credit loss ("CECL") methodology to estimate expected credit losses over the entire life of the financial assets as of the reporting date. The allowance for credit losses is based on the Company's expectation of the collectability of financial instruments carried at amortized cost, including fees receivable utilizing the CECL framework. The credit risk associated with service fee receivable, is made up of any client that the Company conducts business with, that is unable to fulfill its contractual obligations. Management monitors the credit risk of clients, and currently there is not a foreseeable expectation of an event or change which could result in the fees receivable being unpaid based on individual facts and circumstances. The Company considers factors such as historical experience, credit quality, age of balances, and current and future economic conditions that may affect the Company's expectation of the collectability in determining the allowance for credit losses. The Company has no allowance for credit losses as of December 31, 2025. The Company had service fee receivables of \$25,000 on January 1, 2025, and \$20,000 on December 31, 2025. {7}------------------------------------------------ # **MOORGATE SECURITIES, LLC NOTES TO THE FINANCIAL STATEMENT DECEMBER 31, 2025** #### **2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** *(continued)* #### *Service fee receivable and contract assets and liabilities (continued)* The Company had no contract assets or liabilities at January 1, 2025 and December 31, 2025 #### **3. RELATED PARTY TRANSACTIONS** Pursuant to the management and expense sharing agreement, the Parent will pay directly certain operating expenses, which are incurred "in common" by the Company. The Parent will provide to the Company all equipment, furniture, utilities, facilities, and administrative support necessary or appropriate to carry on the Company's activities. The Parent agreed that it will apportion to and collect from the Company on a monthly basis 25% of the "common" expenses incurred. The Company has a balance of \$63,655 due to the Parent, and it is expected that this remaining balance will be paid in 2026, which is included in due to Parent on the statement of financial condition. #### **4. NET CAPITAL REQUIREMENTS** The Company is subject to the uniform net capital requirements of Rule 15c3-1 of the Securities and Exchange Act, as amended, which requires the Company to maintain, at all times, sufficient liquid assets to cover indebtedness. In accordance with Rule 15c3-l, the Company is required to maintain defined minimum net capital of the greater of \$5,000 or 6 2/3% of aggregate indebtedness. At December 31, 2025, the Company had net capital, as defined, of \$80,313, which exceeded the required minimum net capital of\$5,000 by \$75,313. Aggregate indebtedness at December 31, 2025 totaled \$65,792. The Company's percentage of aggregate indebtedness to net capital was 81.92%. The Company does not claim an exemption from SEA Rule 15c3-3, in reliance on Footnote 74 to SEC Release 34-70073, and as discussed in Q&A 8 of the related FAQ issued by SEC staff. The Company has represented that it does not, and will not, (1) directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, (2) does not and will not carry accounts of or for customers, and (3) does not and will not carry P AB accounts. #### **5. REPORTABLE SEGMENTS** The Company is engaged in a single line of business as a securities broker-dealer, which operations consist primarily of financial advisory and private capital raises for corporate clients. The Company has identified its Co-Chief Executive Officer/Chief Financial Officer and Co-Chief Executive Officer/Chief Compliance Officer as the chief operating decision makers ("CODM"), who uses net income to evaluate the results of the business, predominantly in the forecasting process, to manage the Company. Additionally, the CODM uses excess net capital (see Note 4), which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy, such as whether to reinvest profits or pay distributions. The Company's operations constitute a single operating segment and therefore, a single reportable segment, because the CODM manages the business activities using information of the Company as a whole. The accounting policies used to measure profit and loss of the segment are the same as those described in the summary of significant accounting policies. {8}------------------------------------------------ # **MOORGATE SECURITIES, LLC NOTES TO THE FINANCIAL STATEMENT DECEMBER 31, 2025** #### **6. SUBSEQUENT EVENTS** Management of the Company has evaluated events and transactions that may have occurred since December 31, 2025 and through date of issuance and determined that there are no material events that would require disclosure in the Company's financial statement. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.