# SENAHILL SECURITIES, LLC X-17A-5 (2025-04-03) — Broker-dealer annual report - Company: SENAHILL SECURITIES, LLC - Form: X-17A-5 - Filed: 2025-04-03 - Period: 2024-12-31 - Accession: 0001564913-25-000004 - CIK: 1564913 - File #: 8-69215 - Type: Broker-dealer - Material weakness: Yes - Auditor: WithumSmith & Brown, PC - Auditor location: New York, NY - Contact: Kathy Efrem - Phone: 212-897-1686 - Signed by: Gregg Sharenow (Chief Financial Officer) Original filing: https://www.sec.gov/Archives/edgar/data/1564913/000156491325000004/sh24s.pdf --- {0}------------------------------------------------ # SENAHILL SECURITIES LLC #### STATEMENT OF FINANCIAL CONDITION AND INDEPENDENT AUDITORS' REPORT DECEMBER 31, 2024 {1}------------------------------------------------ #### UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ## ANNUAL REPORTS FORM X-17A-5 PART III | OMB APPROVAL | | | | |-------------------------------------|--|--|--| | OMB Number: 3235 0123 | | | | | Expires:
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12 | | | | | | | | | SEC FILE NUMER 8 - 69215 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 **0 1/01 /24** AND ENDING **12/31 /24** MMIDDIYY MMIDDIYY #### **A. REGISTRANT IDENTIFICATION** # NAME oF FIRM: \_\_\_ S\_e\_n\_a\_H\_il\_l S\_ec\_u\_r\_it\_ie\_s\_, \_L\_L\_C \_\_\_\_\_\_\_\_\_\_ \_ 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.) ### 115 Broadway, 5th Floor | | (No. and Street) | | | |---------------------------------------------------------------------------|-----------------------------------------------------------|-----------------|------------| | New York | NY | | 10006 | | (City) | (State) | | (Zip Code) | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | Kathy Efrem | (212) 897-1686 | | | | (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) | | | | 1411 Broadway, 9th Floor | New York | NY | 10018 | | (Address) | (City) | (State) | (Zip Code) | | | | | | ### 10/8/2003 100 (Date of Registration with PCAOB)(if applicable) (PCAOB Registration Number, ifapplicable) #### **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 0MB control number.** {2}------------------------------------------------ #### **AFFIRMATION** J, Gregg Sharenow , swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to SenaHill Securities, LLC as of 12/31/24 , 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. **S(gnature** Ch· *e.f- -f-"1//.11. 111*C,j 'd *Dffr'ce ,r* **Title** JANICE M. ROBERTS NOTARY PUBLIC STATE OF NEW JERSEY MY COMM. EXP. 6-21-2025 {3}------------------------------------------------ #### **This filing\*\* contains (check all applicable boxes):** - [El (a) Statement of financial condition. - [El (b) Notes to unconsolidated or consolidated statement of financial condition, as applicable. - □ (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). - □ (d) Statement of cash flows. - □ (e) Statement of changes in stockholders' or partners' or members' or sole proprietor's equity, as applicable. - □ (f) Statement of changes in liabilities subordinated to claims of creditors. - □ (g) Notes to unconsolidated or consolidated financial statements,, as applicable. - □ (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-l, as applicable. - □ (i) Computation of tangible net worth under 17 CFR 240.18a-2. - □ (j) 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. - □ (n) 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. - □ ( o) 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. - [El (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. - [El (t) Independent public accountant's report based on an examination of the statement offinancial condition. - □ (u) Independent public accountant's report based on an examination of the financial report or 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 ofthe 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 240.15c3-le or 17 CFR 240.17a-12, as applicable. - □ (y) Report describing any material inadequacies found to exist or 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 240.17a-5(e}(3} or 17 CFR 240.18a- *.* 7(d}(2}, as applicable {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) #### **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Member and Those Charged With Governance of SenaHill Securities, LLC: #### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of SenaHill Securities, LLC (the "Company") as of December 31, 2024, 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, 2024, 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 2015. We have served as the Company's audito New York, New York April 2, 2025 {5}------------------------------------------------ #### **SENAHILL SECURITIES LLC STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2024** #### **Assets** | Cash | \$
615,729 | |------------------|---------------| | Other receivable | 9,370 | | Other assets | 8,158 | | | | | Total assets | \$
633,257 | #### **Liabilities and Member's Capital** | Liabilities: | | |----------------------------------------|---------------| | Accounts payable and accrued expenses | \$
483,113 | | Member's capital | 150,144 | | Total liabilities and member's capital | \$
633,257 | {6}------------------------------------------------ #### **SENAHILL SECURITIES LLC** #### **NOTES TO FINANCIAL STATEMENT DECEMBER 31, 2024** #### **Note 1- Organization and nature of business** SenaHill Securities, LLC (the "Company"), is a limited liability company. The Company is a wholly-owned subsidiary of SenaHill Advisors, LLC (the "Parent"). The Company is registered with the Securities and Exchange Commission ("SEC") and is a member of the Financial Industry Regulatory Authority. The Company provides private placement of securities and advisory services. #### **Note 2 - Summary of significant accounting policies** #### Basis of accounting and use of estimates These financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP") which 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 the amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. The Company considers all highly liquid debt instruments with original maturities of three months or less to be cash equivalents. The Company considers money market accounts and money market funds to be cash equivalents. The Company doesn't have any cash equivalents. #### Contract Assets and Contract Liabilities The Company had no contract assets and no contract liabilities at January 1, 2024 and December 31, 2024. As of January 1, 2024, accounts receivable balance was \$250,000 and \$0 as of December 31, 2024. #### Allowance for credit losses ASC Topic 326, Financial Instruments - Credit Losses ("ASC 326") impacts the impairment model for certain financial assets by requiring a current expected credit loss ("CECL") methodology to estimate expected credit losses over the entire life of the financial asset. Under ASC 326, the Company could determine there are no expected credit losses in certain circumstances ( e.g., based on the credit quality of the client). The allowance for credit losses is based on the Company's expectation of the collectability of financial instruments, including fees and other receivables utilizing the CECL framework. 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. Under the standard, the allowance for credit losses must be deducted from the amortized cost of the financial asset to present the net amount expected to be collected. {7}------------------------------------------------ #### **SENAHILL SECURITIES LLC** #### **NOTES TO FINANCIAL STATEMENT DECEMBER 31, 2024** #### **Note 2 - Summary ofsignificant accounting policies(continued)** #### Income taxes The Company is a single member limited liability company for federal, state, and local income tax purposes. As such, it is a disregarded entity for tax purposes and does not pay any taxes, which are borne primarily by the individual owners of its Parent. The Company does not reflect any taxes in its financial statements. The Company's income or loss is taken into consideration in the tax returns of its Parent's owners. Management has determined that the Company had no uncertain tax positions that would require financial statement recognition. This determination will be subject to ongoing reevaluation as facts and circumstances may require. #### Segment Reporting The Company is engaged in a single line of business as a securities broker-dealer, which is comprised of financial advisory services in connection with mergers, acquisitions and private placement of securities. The Company has identified its Chief Executive Officer 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 net income and net capital (see Note 5), which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy, retaining profits in the Company or making 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. #### **Note 3 - Compliance with Rule 15c3-3** The Company does not handle cash or securities on behalf of customers and accordingly has no obligation under SEC Rule 15c3-3. #### **Note 4- Concentrations** The Company maintains its cash balance at one fmancial institution. The Company does not consider itself to be at risk with respect to its cash balance. #### **Note 5- Regulatory requirements** The Company is subject to the SEC Uniform Net Capital Rule (Rule 15c3-1), which requires the maintenance of minimum net capital and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to 1. At December 31, 2024, the Company had net capital of approximately \$132,000 which was approximately \$82,000 in excess of its required net capital of \$50,000. {8}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ource: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.