# FIRST CRAFT SECURITIES, LLC X-17A-5 (2024-02-15) — Broker-dealer annual report - Company: FIRST CRAFT SECURITIES, LLC - Form: X-17A-5 - Filed: 2024-02-15 - Period: 2023-12-31 - Accession: 0001534667-24-000001 - CIK: 1534667 - File #: 8-69006 - Type: Broker-dealer - Material weakness: No - Auditor: Mercurius & Associates (formerly known as AJSH & Co LLP - Auditor location: New Delhi, K7 - Contact: Daniel Conway - Phone: 310-919-8842 - Email: dconway@craftpartnersllc.com - Website: craftpartnersllc.com - Signed by: Daniel Conway (Member) Original filing: https://www.sec.gov/Archives/edgar/data/1534667/000153466724000001/finalauditfix.pdf --- {0}------------------------------------------------ ### **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington,** D.C. **20549** ## **ANNUAL REPORTS FORM X-17A-5 PART Ill** | 0MB APPROVAL | | |--------------------------|--| | 0MB Number: 3235-0123 | | | Expires: Nov. 30, 2026 | | | Estimated average burden | | | hours per response: 12 | | SEC FILE NUMBER 8-69006 | | FACING PAGE | | |---------------------------------|-------------|-----------------------------------------------------------------------------------------------------------| | | | Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | | | 01/01 /23 | 12/31 /23 | | FILING FOR THE PERIOD BEGINNING | _________ | ________
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_ | _ | | | | | [!] Broker-dealer O Security-based swap dealer 0 Major security-based swap participant D Check here If respondent is also an OTC derivatives dealer ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) 103 Mulberry Street | | (No. and Street) | | | |----------------------------------------------|------------------|------------------------------|--| | St Michaels | MD | 21663 | | | (City) | {State) | (Zip Code) | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | Daniel Conway
310-919-8842 | | dconway@craftpartnersllc.com | | | (Name)
(Area Code - Telephone Number) | | (Email Address) | | | | | | | **B. ACCOUNTANT IDENTIFICATION** INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing\* Mercurius & Associates (formerly known as AJSH & Co LLP) | | (Name - if individual, state last, first, and middle name) | | | |--------------------------------------------------|------------------------------------------------------------|-----------------|------------------------------------------| | A-94/8, Wazirpur Industrial Area | New Delhi | India | | | (Address)
02/10/2009 | (City) | (State)
3223 | {Zip Code) | | te of Reg;,trafoa with PCAOB It• appUcable)
r | | | {PCAOB Reg;st,atlon N,mbe,, • applica~,) | | | 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-S(e)(l)(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 0MB control number. {1}------------------------------------------------ #### **OATH OR AFFIRMATION** | I, Daniel Conway | swear (or affirm) that, to the best of my knowledge and belief, the | | |----------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------| | l~,ancial report pertaining to t | he firm of First Craft Securities, LLC | as of | | ecember 31
2~ | 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 | | | as that of a customer.
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~ | | Notary Public ### **This filing\*"' contains (check all applicable boxes):** - **!!ii** (a) Statement offinancial condition. - **!!ii** (bl Notes to consolidated statement of financial condition. - **!!ii** (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 § 210.1-02 of Regulation S-X). :1.so:,:·co~~,,"~-- , ,,, I I// II 11 11 I I I\ 111 - **!!ii** (d) Statement of cash flows. - **l!!i** (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - □ (f) Statement of changes in liabilities subordinated to claims of creditors. - Iii!! (g) Notes to consolidated financial statements. - **!!ii** (h) Computation of net capital under 17 CFR240.15c3-1 \_0r 17 CFR 240.18a-1, as.applicable. - □ (i) Computation of tangible net worth under 17 CFR 240.18a-2. - **!!ii** 0) 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 240.1Sc3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable. - D (I) Computation for Determination of PAB Requirements under Exhibit A to§ 240.15c3-3. - **!!ii** (m) Information relating to possession or control requirements for customers under 17 CFR 240.1Sc3-3. - □ (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.1Sc3-3(p)(2) or 17 CFR 240.18a-4, as applicable. - ii (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under 17 CFR 240.1Sc3-1, 17 CFR 240.18a-1, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.1Sc3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist. - D (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - **!!ii** (q) Oath or affirmation in accordance with 17 CFR 240.17a-S, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable. - D (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-S or 17 CFR 240.18a-7, as applicable. - □ (t) Independent public accountant's report based on an examination of the statement of financial condition. - Iii (u) Independent public accountant's report based on an examination of the financial report or financial statements under 17 CFR 240.17a-S, 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. - Iii (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 240.1Sc3-l e or 17 CFR 240.17a-12, as applicable . - . □ (y) Report describing any material inadequacies found to exist or found to hav.e existed sin.ce the date of the pr.evious .a.udit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k). D (z) Other: \_\_\_\_\_ \_\_\_\_\_\_\_\_ \_ \_ \_\_\_\_\_\_\_\_\_ \_ \_ \_ \_ \_ \_\_\_\_\_\_\_ \_ - - \*\*To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e){3} or 17 CFR 240.18a-7{d}(2}, as applicable. ![](_page_1_Picture_31.jpeg) {2}------------------------------------------------ ## First Craft Securities, LLC Annual Audit Report December 31, 2023 {3}------------------------------------------------ # **First Craft Securities, LLC Decembar~l,2023** ## **Table of Contents** | Report of Independent Registered Public Accounting Firm | 1 | |--------------------------------------------------------------------------------------------------------------------------|-----| | Financial Statements: | | | Statement of Financial Condition | 2 | | Statement of Operations | 3 | | Statement of Changes in Member's Equity | 4 | | Statement of Cash Flows | 5 | | Notes to the Financial Statements | 6-8 | | Supplemental Information: | 9 | | Schedule I: | 10 | | Computation of Net Capital Under Rule 15c3-1
of the Securities and Exchange Commission | | | Reconciliation with Company's Net Capital Computation | | | Schedule II: | 11 | | Computation to Determination of Reserve Requirements
Under Rule 15c3-3 of the Securities and Exchange Commission | | | Information Relating to Possession or Control Requirements
Under Rule lSc-3 of the Securities and Exchange Commission | | | Report of the Independent Registered Public Accounting Firm on
Exemption report | 12 | | SEA 1Sc3-3 Exemption Report | 13 | | Report of Independent Registered Public Accounting Firm on Applying
Agreed-Upon Procedures | 14 | SIPC 7 {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) **MERCURIUS** & **ASSOCIATES LLP** Formc>rly known o• *AJSH* & Co LLP **+91** 11 **4559 6689** ~ **info@masllp.com** (2) **www.masllp.com** ~ #### Report of the Independent Registered Public Accounting Firm To the members of First Craft Securities, LLC #### Opinion on the Financial Statements We have audited the accompanying statement of financial condition of First Craft Securities, LLC (the "Company ") as of December 31, 2023 and the related statements of operations, changes in Stockholder's equity and cash flows for the year ended, and the related notes (collectively referred to as the "financial statements"). fh our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2023, and the results of its operations and its cash flows for the year then ended, in conformity with accounting principles generally accepted in the United States of America. #### **Basis** for Opinion These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements 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 statements are 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 statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by managemant, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion. #### **Auditor's Report on Supplemental Information** The supplementary information contained in Schedule I - Computation of Net Capital pursuant to Uniform Net Capital Rule 15c3-1 of Securities and Exchange Commission has been subjected to audit procedures performed in conjunction with the audit of Company's financial statements. The supplemental information is the responsibility of the Company's management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. ![](_page_4_Picture_14.jpeg) **LLPIN-AAG-1471 A-94/8, Wazirpur Industrial Area New Delhi-110052,** India {5}------------------------------------------------ In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with Rule 17a-5. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole. **111 <21 Cw?;(/\~** *tt* It~ *D V* 4 **t-l** ~**Mercurius** & **Associates LLP** (Formerly known as AJSH & Co LLP) We have served as the First Craft Securities LLC's Auditor since 2018. New Delhi, India February 15, 2024 {6}------------------------------------------------ ## First Craft Securities, LLC ## Statement of Financial Condition December 31, 2023 | Assets | | | |---------------------------------------|---------------|--| | Cash and cash equivalents | \$
281,284 | | | Prepaid expense | \$
1,269 | | | Total Assets | \$
282,553 | | | | | | | Liabilities and Member's Equity | | | | Liabilities | | | | Accounts Payable | \$
650 | | | Total Liabilities | \$
650 | | | Member's Equity | \$
281,903 | | | Total Liabilities and Member's Equity | \$
282,553 | | The accompanying notes are an integral part of these :financial statements. {7}------------------------------------------------ ## **First Craft Securities, LLC** ## **Statement of Operations For the Vear Ended December 31, 2023** | Revenue | | |--------------------------|----------------| | Investment banking fees | \$
9,422 | | Total Revenue | \$
9,422 | | Expenses | | | Commission expense | \$
9,422 | | Account
ing fees | \$
5,150 | | Taxes and licenses | \$
739 | | Regulatory fees | \$
2,427 | | Other operating expenses | \$
3,880 | | Total Expenses | \$
21,618 | | Net Loss | \$
(12,196) | The accompanying notes are an integral part of these financial statements. {8}------------------------------------------------ # **First Craft Securities, LLC St2tgment of Chanees in Member's Equity For the Year Ended December 31, 2023** | \$
294,099 | | |----------------|--| | \$
(12,196) | | | \$
281,903 | | | | | The accompanying notes are an integral part of these financial statements. {9}------------------------------------------------ # **First Craft Securities, LLC Statement of Cash Flows For the Year Ended December 31, 2023** | Cash Flows from Operating Activities | | | |------------------------------------------------------------------------|----------------|--| | Net loss | \$
(12,196) | | | Adjustments to reconcile net income
to net cash used in activities: | | | | (Increase) decrease in: | | | | Account
s Receivable | \$
26,000 | | | Prepaid expense | \$
99 | | | Increase (decrease) in: | | | | Accounts payable | \$
(25,350) | | | Net Cash from Operating Activities | \$
(11,447) | | | Cash Flows from Financing Activities | | | | Withdrawals | \$
0 | | | Net Cash from Financing Activities | \$
0 | | | Net Increase in cash and Cash Equivalents | \$
{11,447) | | | s at beginning of year
Cash and cash equivalent | \$
292,731 | | | Cash and cash Equivalents at End of Year | \$
281,284 | | The accompanying notes are an integral part of these financial statements. {10}------------------------------------------------ ## **First Craft Securities, LLC Notes to the Financial Statements December 31, 2023** ### 1. **Organization** First Craft Securities, LLC (the "Company") was organized as a Delaware limited liability company on May 13, 2011, and was registered with the Securities and Exchange Commission as a securities broker dealer on February 21, 2013. The Company provides financial advisory and related services. ### 2. **Significant Accounting Policies** ### **Basis of presentation** The summary of significant accounting policies presented below is designed to assist in understanding the Company's financial statements. These accounting policies conform to accounting principles generally accepted in the United States of America. ("GAAP") in all material respects, and have been consistently applied in preparing the accompanying financial statements. ### **Cash and Cash Equivalents** The Company considers all demand deposits held in banks and certain highly liquid investments with original maturities of three months or less, other than those held for sale in the ordinary course of business, to be cash equivalents. ### **Revenue** The revenue recognition guidance of ASC Topic 606, Revenue from Contracts with Customers, requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance requires an entity to follow a five-step model to (a) identify the contract(s) with a customer, (b) identify the performance obligations in the contract, (c) determine the transaction price, (d) allocate the transaction price to the performance obligations in the contract, and (e) recognize revenue when (or as) the entity satisfies a performance obligation. In determining the transaction price, an entity may include variable consideration only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized would not occur when the uncertainty associated with the variable consideration is resolved. 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 {11}------------------------------------------------ #### overtime. Investment banking fees are earned from providing financial advisory services to clients. Revenue is recognized when earned either by fee contract or the success of a predetermined specified event and collection is reasonably determinable. #### **Use of 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 at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and may have an impact on future periods. #### **Fair Value of Financial Instruments** Unless otherwise indicated, the fair values of all reported assets and liabilities that represent financial instruments (none of which are held for trading purposes) approximate the carrying values of such amounts. #### **Income Taxes** The Company is a single member limited liability company and is treated as a disregarded entity for tax purposes. In lieu of income taxes, the Company passes 100% of its taxable income and expenses to its sole member. Therefore, no provision or liability for federal or state income taxes is included in these financial statements. The Company is however, subject to annual Maryland and Delaware LLC taxes. #### 3. **Recently Issued Accounting Pronouncements** There were no new accounting pronouncements during the year ended December 31, 2023 that we believe would have a material impact on our financial position or results of operations. #### 4. **Net Capital Requirements** The Company is subject to the Securities and Exchange Commission's uniform net capital Rule 15c3-1 of Securities and Exchange Act, which requires the Company to maintain, at all times, a minimum net capital equal to or greater than \$5,000 and a ratio of aggregate indebtedness to net capital not exceeding 15 to 1, both as defined. At December 31, 2023, the Company's net capital was \$280,634 which exceeded the requirement by \$275,634. Aggregate indebtedness at December 31, 2023 totaled \$650. The Company's percentage {12}------------------------------------------------ of aggregate indebtedness to net capital was .2%. #### **5. Ri:,k Concentration** For the year ended December 31, 2023, 100% of the Company revenue was earned from one client. The Company's cash consists of cash held at one financial institution. The balance at the financial institution may exceed government insurance limits during the year. #### **6. Related Party Transactions** Pursuant to an expense sharing agreement, effective January 1, 2023, between Craft Partners, LLC and the Company, Craft Partners, LLC pays certain overhead expenses of the Company including office equipment and supplies, insurance, and other administrative and overhead expenses. The Company reimburses Craft Partners, LLC for such expenses, determined to be \$750 per quarter in 2023. Craft Partners, LLC and First Craft Securities, LLC are both owned by the Member. #### **7. Subsequent Events** There were no subsequent events through February 15, 2024, the date which the financial statements were issued. {13}------------------------------------------------ #### SUPPLEMENTAL **INFORMATION** {14}------------------------------------------------ # **First Craft Securities, LLC Schedule I** # **Computation of Net Capital Under Rule 1Sc3-1 As of December 31, 2023** | Net Capital | | |-----------------------------------------------------------------------------------------------------------------|---------------| | Total member's equity | \$
281,903 | | Less: Non-allowable assets: | | | Prepaid expenses | (1,269) | | Net Capital | \$
280,634 | | Net minimum capital requirement of 6 2/3% of aggregate
indebtedness of \$43 or \$5,000, whichever is greater | 5,000 | | Excess Net Capital | \$
275,634 | | | | ## **Reconciliation with Company's Net Capital Computation (Included in Part II of Form X-17A-5 as of December 31, 2023}** There were no material differences noted in the Company's net capital computation at December 31, 2023. {15}------------------------------------------------ # **First Craft Securities, LLC Schedule II** # **Computation for Determination of Reserve Requirements Under Rule 15c3-3 of the Securities and Exchange Commission** ## **For the Year Ended December 31, 2023** For the year ended December 31, 2023, the Company is exempt from the provision of Rule 15c3-3 as supported by footnote 74 to SEC Release 34-70073, and as discussed in Q & **A 8** of the related FAQ issued by SEC staff. The Company does not affect transactions for anyone defined as a customer under Rule 15c3-3. Accordingly, there are no items to report under the requirements of this Rule. # **Information Relating to Possession or Control Requirements Under Rule 15c3-3 of the Securities and Exchange Commission** ### **For the Year Ended December 31, 2023** For the year ended December 31, 2023, the Company is exempt from the provision of Rule 15c3-3 as supported by footnote 74 to SEC Release 34-70073, and as discussed in Q & A 8 of the related FAQ issued by SEC staff. The Company does not affect transactions for anyone defined as a customer under Rule 15c3-3. Accordingly, there are no items to report under the requirements of this Rule. {16}------------------------------------------------ ![](_page_16_Picture_0.jpeg) **MERCURIUS** & **ASSOCIATES LLP** Formerly known as A)SH & Co LLP > **info@mosllp.com l'.S2) www.masllp.com** ~ Report of Independent Registered Public Accounting Firm To the Members of First Craft Securities, LLC We have reviewed First Craft SecL1rities, LLC's statement, included in the accompanying First Craft Securities, LLC's Exemption Report, in which: (1) Company does not claim an exemption under paragraph (k) of 17 C.F.R. §240.15c3-3 and (2) Company stated that it is filing the Exemption Report relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R.§240.17a-5 because the Company limits its business activities exclusively to private placements of securities as an agent and mergers & acquisitions advisory services. The Company did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers. The Company did not carry accounts of or for customers throughout the most recent fiscal year without exception. The Company did not carry PAB accounts (as defined in Rule 15c3-3) throughout the most recent fiscal **year** ended December 31, 2023, without exception\_ The Company's management is responsible for the statements and for compliance with the provisions of Footnote 74 of the SEC Release No.34-70073 adopting amendments to 17 C.F.R. §240.17a-5 throughout the year ended December 31, 2023. 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 the Company's compliance with the provisions of Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R.§240.17a-5. 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 SEC Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5. Mercurius & Associates LLP (Formerly known as AJSH & Co LLP) New Delhi, India February 15, 2024 ![](_page_16_Picture_14.jpeg) Or **LLPIN-AAG-1471 A-94/8, Wo:i:irpur Industrial Area** New Delhi-110052, Indio **I ND I A** {17}------------------------------------------------ **FIRST CRAFT SECURITIES, LLC** POBox901 Saint Michaels, MD 21 663 www.craftpartnersllc.com ![](_page_17_Picture_1.jpeg) ### **SEA 15c3-3 Exemption Report** First Craft Securities, LLC (the "Company") is a registered broker-dealer subject to Rule 17a-5 promulgated by the Securities and Exchange Commission (17 C.F .R. §240.17a-5, "Reports to be made by certain brokers and dealers"). This Exemption Report was prepared as required by 17 C.F.R. §240.l 7a-5(d)(l) and (4). To the best of its knowledge and belief, the Company states the following: - 1. The Company does not claim an exemption under paragraph (k) of 17 C.F.R. § 240. 15c3-3. - 2. The Company is filing this Exemption Report relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 because the Company limits its business activities exclusively to private placements of securities as an agent and mergers & acquisitions advisory services. - 3. The Company did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers. - 4. The Company did not carry accounts of or for customers throughout the most recent fiscal year without exception. - 5. The Company did not carry PAB accounts (as defined in Rule 15c3-3) throughout the most recent fiscal year without exception. First Craft Securities, LLC. I Daniel Conway affrrm that, to the best of my knowledge and belief, the Exemption Report is true and correct. Respectfully submi~ed, Daniel Conway Managing Partner February 7, 2024 {18}------------------------------------------------ ![](_page_18_Picture_0.jpeg) **MERCURIUS** & **ASSOCIATES LLP** Form~rly known os AJSH & Co LLP > **lnfo@masllp.com** ~ **www.masllp.c:om** ~ #### Report of Independent Registered Public Accounting Firm #### To the members of First Craft Securities, LLC #### Opinion on the Financial Statement We have audited the accompanying statement of financial condition of the First Craft Securities, LLC (the "Company") as of December 31, 2023 and the related notes (collectively referred to as the "financial statement"). In our opinion, the financial statement present fairly, in all material respect, the financial position of the Company as of December 31, 2023 in conformity with accounting principles generally accepted in the United States of America. #### Basis for Opinion The financial statement is the responsibility of the Company's management. Our responsibility is to express an opinion on these 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 obt ain reasonable assurance about whether the financial statement is free from 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 of the financial statement provide a reasonable basis for our opinion. Mercurius & Associates LLP (Formerly known as AJSH & Co LLP} We have served as the First Craft Securities LLC's Auditor since 2018, New Delhi, India February 15, 2024 ![](_page_18_Picture_15.jpeg) G4{ **LLPIN-AAG-1471 A-94/6, Wa:tirpur lndustric:il Area New Delhi-110052, India INDIA** {19}------------------------------------------------ #### **GENERALASSESSMENTFORM** For the fiscal year ended 12/31/2023 | | Pc'NET Operating Revenues'~General Assessment for.
Determination ~
MEMBER NAM!= | SEC No | | |---|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------|------------| | | FIRST CRAFT SECURITIES LLC
._ ____ ~ __
-!md ending
I p_e_ri_od beginning __ 1~23 | 8-69006 | | | | -'
F_or_t_he_fisca
_ | 12/31/2023 | | | 1 | Total Revenue (FOCUS Report -
Statement of Income {Loss) -
Code 4030) | | \$9,422.00 | | 2 | Additions: | | | | | a Total revenues from the securities business of subsidiaries (except foreign
subsidiaries) and predecessors not included above. | | | | | b Net loss from principal transactions in securities in trading accounts. | | | | | c Net loss from principal transactions in commodities in trading accounts. | | | | | d Interest and dividend expense deducted in determining item 1. | | | | | e Net loss from management of or participation in the underwriting or
distribution of securities. | | | | | 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. | | | | | g Net loss from securities in investment accounts. | | | | | h Add lines 2a through 2g. This is your total additions. | | \$ 0.00 | | 3 | Add lines 1 and 2h | | \$9,422.00 | | 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
and from transactions in security futures products. | | | | | b Revenues from commodity transactions. | | | | | c Commissions, floor brokerage and clearance paid to other SIPC members
in connection with securities transactions. | | | | | d Reimbursements for postage in connection with proxy solicitations. | | | | | e Net gain from securities in investment accounts. | | | | | f 100% commissions and markups earned from transactions in {I) certificates
of deposit and (ii) Treasury bills, bankers acceptances or commercial paper
that mature nine months or less from issuance date. | | | | | 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). | | | | | h Other revenue not related either directly or indirectly to the securities business.
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 | | | | | b 40% of margin interest earned on customers securities accounts
(40% of FOCUS Report -
Statement of Income (Loss) -
Code 3960) | | | | | c Enter the greater of line 5a or 5b | \$ 0.00 | | | 6 | Add lines 4a through 4h and 5c. This is your total deductions. | | \$ 0.00 | {20}------------------------------------------------ | SIPC-7 | 37 REV0722 | SECURITIES INVESTOR PROTECTION CORPORATION | | | SIPC-7
37 REV0722 | |----------------------------------|-----------------------------|-----------------------------------------------------------------------------|--------------------------------------|--------------|----------------------| | | | | GENERALASSESSMENTFORM | | | | | | | For the fiscal year ended 12/31/2023 | | | | 7 | | Subtract line 6 from line 3. This is your SIPC Net Operating Revenues. | | | \$9,422.00 | | 8 | | Multiply line 7 by .0015. This is your General Assessment. | | | \$ 14.00 | | 9 | | Current overpayment/credit balance, if any | | | \$ 0.00 | | 10 | | General assessment from last filed 2023 SIPC-6 or 6A | | \$14.00 | | | 11 | | a Overpayment(s) applied on all 2023 SIPC-6 and 6A(s) | \$0.00 | | | | | | b Any other overpayments applied | \$0.00
\$14.00 | | | | | | c All payments applied for 2023 SIPC-6 and 6A(s) | | | | | | d Add lines 11a through 11c | | | \$ 14.00 | | | 12 | LESSER of line 10 or 11d. | | | | \$ 14.00 | | | 13 a Amount from line 8 | | | \$14.00 | | | | b Amount from line 9 | | | \$ 0.00 | | | | c Amount from line 12 | | | \$ 14.00 | | | | | d Subtract lines 13b and 13c from 13a. This is your assessment balance due. | | | \$ 0.00 | | 14 | | Interest (see instructions) for
days late at 20% per annum
O | | | \$ 0.00 | | 15 | | !Amount you owe SIPC. Add lines 13d and 14. | | | \$ o.ooj | | 16 | | Overpayment/credit carried forward (if applicable) | | | \$ 0.00 | | SEC No.
8-69006 | | Designated Examining Authority
DEA: FINRA | FYE
2023 | Month
Dec | | | 1 MEMBER NAME
MAILING ADDRESS | | FIRST CRAFT SECURITIES LLC
P.O. BOX 901
ST MICHAELS, MD 21663 | | | | - ----- -------------- Subsidiaries (S) and predecessors (P) included in the form (give name and SEC number) UNITED STATES By checking this box, you certify that you have the authority of the SIPC member to sign this form; that all information in this form is true and complete; and that on behalf of the SI PC member, you are authorized, and do hereby consent, to the storage and handling by SIPC of the data in accordance with SIPC's Privacy Policy | FIRST CRAFT SECURITIES LLC | DANIELS CONWAY | |----------------------------|------------------------------| | (Name of SIPC Member) | (Authorized Signatory) | | 1/9/2024 | dconway@craftpartnersllc.com | | (Date) | (e-mail address) | | | | Completion of the "Authorized Signatory" line will be deemed a signature. **This form and the assessment 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.