# ASTOR RIDGE N.A. LLP X-17A-5 (2023-06-29) — Broker-dealer annual report

- Company: ASTOR RIDGE N.A. LLP
- Form: X-17A-5
- Filed: 2023-06-29
- Period: 2023-03-31
- Accession: 0001663262-23-000002
- CIK: 1663262
- File #: 8-69728
- Type: Broker-dealer
- Material weakness: No
- Auditor: Haynie & Company
- Auditor location: Salt Lake City, UT
- Contact: John Clarke Gray
- Phone: 9172381263
- Website: hayniecpas.com
- Signed by: John Clarke Gray (CFO)

Original filing: https://www.sec.gov/Archives/edgar/data/1663262/000166326223000002/arshortform23b.pdf

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#### **UNITED STATES SECURITIES AND EXCHANGE COMMISSION**  Washington, D.C. **20549**

PUBLIC

# **ANNUAL REPORTS FORM X-17A-5 PART** Ill

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SEC FILE NUMBER 8-69728

| Information Required Pursuant to Rules 17a-s, 17a-12, and 18a-7 under the Securities Exchange Act of 1934                                                           | FACING PAGE                                                |                                         |                 |                                            |  |  |  |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------|-----------------------------------------|-----------------|--------------------------------------------|--|--|--|
| FILING FOR THE PERIOD BEGINNING                                                                                                                                     | ___<br>0_4J_0_1_f2_2 __                                    | ANO ENDING                              | ___             | __<br>0_3_/3_1_/_2_3                       |  |  |  |
|                                                                                                                                                                     | MM/DD/VY                                                   |                                         |                 | MM/DD/VY                                   |  |  |  |
| A. REGISTRANT IDENTIFICATION                                                                                                                                        |                                                            |                                         |                 |                                            |  |  |  |
| Astor Ridge NA LLP<br>NAME OF FIRM:                                                                                                                                 |                                                            |                                         |                 |                                            |  |  |  |
| TYPE OF REGISTRANT (check all applicable boxes):<br>~ Broker-dealer<br>□ Security-based swap dealer<br>□ Check here if respondent is also an OTC derivatives dealer |                                                            | □ Major security-based swap participant |                 |                                            |  |  |  |
| ADDRESS OF PRINCIPAL PIACE OF BUSINESS: (Do not use a P.O. box no.}                                                                                                 |                                                            |                                         |                 |                                            |  |  |  |
| 60 Rumson Road                                                                                                                                                      |                                                            |                                         |                 |                                            |  |  |  |
|                                                                                                                                                                     | (No. and Street)                                           |                                         |                 |                                            |  |  |  |
| Rumson                                                                                                                                                              |                                                            | N.J.                                    |                 | 07760                                      |  |  |  |
| (City)                                                                                                                                                              | (State)                                                    |                                         | (Zip Code)      |                                            |  |  |  |
| PERSON TO CONTACT WITH REGARD TO THIS FILING                                                                                                                        |                                                            |                                         |                 |                                            |  |  |  |
| J. Clarke Gray                                                                                                                                                      | 917~238-1263<br>clarke@taylorgrayllc,com                   |                                         |                 |                                            |  |  |  |
| (Name)                                                                                                                                                              | (Area Code - Telephone Number)                             |                                         | (Email Address) |                                            |  |  |  |
|                                                                                                                                                                     | B. ACCOUNTANT IDENTIFICATION                               |                                         |                 |                                            |  |  |  |
| INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*<br>Haynie & Co.                                                                           |                                                            |                                         |                 |                                            |  |  |  |
|                                                                                                                                                                     | (Name - if individual, state last, first, and middle name) |                                         |                 |                                            |  |  |  |
| 1785 West 2300 South                                                                                                                                                | Salt Lake City                                             |                                         | Utah            | 84119                                      |  |  |  |
| (Address)<br>10/20/2003                                                                                                                                             | (City)                                                     |                                         | (State)<br>457  | (Zip Code)                                 |  |  |  |
| (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-S(e)(l)(ii), if applicable.

Persons who are to respond to the colfectfon of Information contained in this form are not required to respond unless the form displays a currently valid 0MB control number.

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#### **OATH OR AFFIRMATION**

I, J. Clarl<e Gray swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of Astor Ridge NA LLP as of

3/31 2 02L..\_, is true and correct. I further swear (or affirm) that neither the company nor any partner, officer, director, or equivalent person, a\_s the case may be, has any proprietary Interest In any account classified solely as that of a customer.

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Notary Publf *t* { . ·

#### This filing>:''i' contains (chf!Ck all applicable box~s):

- ~ (a) Statement of financial condition.
- ~ (b) Notes to consolidated statement of financial condition.
- 0 (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-><).
- 0 (d) Statement of cash flows.
- □ (e) Statement of changes in stockholders' or partners' or sole proprietor's equity.
- 0 (f) Statement of changes in liabilities subordinated to claims of creditors.
- □ (g) Notes to consolidated financial statements.
- 0 (h) Computation of net capital under 17 CS:R 240.l5c3-1 or 17 CFR 240.18a-1, as appflcabfe.
- 0 (i) Computation of tangible net worth under 17 CFR 240.18a-2.
- D (j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3.
- 0 (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.
- 0 (I} Computation for Determination of PAS Requirements under E~hiblt A to § 240.15c3-3.
- D (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.lBa-2, as appllcable, 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.
- rJt (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFH 240.17a-12, or 17 CFR 240.18a-7, as applicable.
- [Y (r) compliance report ln accordance with 17 CFR 240.17a-s or 17 CFR 240.lSa-7, as applicable.
- D (s} Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- 0 (t) Independent public accountant's report based on an examination of the statement of financial condition.
- 0 ( 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.l 7a-12, as applicable.
- D (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.lSa-7, as applicable.
- w (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.
- D (x) Supplemental reports on applying agreed-upon procedures1 in accordance with 17 CFR 240.15c3-1e or 17 CFR 240.17a-12, as applicable.
- 0 (y) Report describing any materiaf 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). 0 (z) Other: \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ \_
- 

*<sup>\*\*</sup>To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-S(e}(3} or* 17 *CFR* 240.18a-7(d){2), *as*  applicable.

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#### ASTOR RIDGE N.A. LLP

#### STATEMENT OF FINANCIAL CONDITION MARCH 31, 2023 (Filed Pursuant to Rule 17a-5(e)(3) Under the Securities Exchange Act of 1934) As a public document

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# **ASTOR RIDGE N.A. LLP CONTENTS**

| Report of Independent Registered Public Accounting Finn | 1   |
|---------------------------------------------------------|-----|
| FINANCIAL STATEMENT                                     |     |
| Statement of Financial Condition                        | 2   |
| Notes to Financial Statement                            | 3-7 |

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1785 West 2320 South Salt Lake City. UT 84119

\\_. 801-972-4800

I@ 801-972-8941

**G** www.HaynieCPAs.com

#### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Partners of Astor Ridge **N** .A. LLP

#### **Opinion on the Financial Statement**

We have audited the accompanying statement of financial condition of Astor Ridge N.A. LLP as of March 31, 2023, 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 Astor Ridge N.A. LLP as of March 31 , 2023 in conformity with accounting principles generally accepted in the United States of America.

#### **Basis for Opinion**

This financial statement is the responsibility of Astor Ridge N.A. LLP's management. Our responsibility is to express an opinion on Astor Ridge N.A. LLP'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 Astor Ridge N.A. LLP 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.

Haynie & Company Salt Lake City, Utah June 28, 2023

We have served as Astor Ridge N.A. LLP's auditor since 2023.

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### **ASTOR RIDGE N.A. LLP Statement of Financial Condition March 31, 2023**  (Expressed in United States Dollars)

#### **Assets**

| Cash                            | \$<br>905,136 |
|---------------------------------|---------------|
| Deposit with clearing broker    | 250,000       |
| Receivable from clearing broker | 866,497       |
| Accounts receivable             | 23,266        |
| Prepaid expenses                | 4,141         |
| Total assets                    | \$2,049,040   |

#### **Liabilities and Partners' Capital**

| Accounts payable and accrued expenses<br>Payable to affiliates | 813,347<br>\$<br>601,904 |
|----------------------------------------------------------------|--------------------------|
| Total liabilities                                              | 1,415,251                |
| Partners' capital                                              | 633,789                  |
| Total liabilities and partners' capital                        | \$ 2,049,040             |

The accompanying notes are an integral part of this financial statement

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# **Note** 1 - **Nature of Business and Summaa of Sipificant Accountine Policies**

## **Nature of Business:**

Astor Ridge N.A. LLP (the "Company", the "LLP", "or **"ARNA")** was organized on September 16, 2015 under the Limited Liability Partnerships Act of 2000 of England and Wales, as a limited liability partnership. The Company was approved and registered with the Securities and Exchange Commission ("SEC") on August 24, 2016. The Company is a member of the Financial Industry Regulatory Authority (''FINRA"), the Securities Investor Protection Corporation ("SIPC") and the National Futures Association (the "NF A"). The Company is a majority owned subsidiary of Astor Ridge LLP, a United Kingdom limited liability partnership regulated under the Financial Conduct Authority ("FCA"), a regulator for financial services firms and financial markets in the United Kingdom. All employees and partners work remotely.

The security transactions which are entered into on behalf of the Company's institutional customers are cleared by the Company's clearing broker on a fully disclosed basis and therefore the Company is exempt under the provisions of paragraph (k)(2)(ii) of SEC Rule 15c3-3. The Company does not hold customer funds or securities. Under these exemptive provisions, the Computation for Determination of Reserve Requirements and Information Relating to the Possession and Control Requirements are not required. The Company is a member of the Securities Investor Protection Corp. The Company, as a result of its membership in the NF A, has annual reporting requirements under Regulation 1.16 of the Commodity Futures Trading Commission.

#### **Summary of Significant Accounting Policies:**

#### Basis of Presentation

The accompanying financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. **GAAP").** The U.S. Dollar is the functional currency of the Company.

#### Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of the assets and liabilities and disclosure of contingent 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.

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# Note 1 - Nature of Business and Summary of Significant Accountine Policies {continued}

### Cash and Cash Equivalents

The Company has defined cash equivalents as highly liquid investments with original matwities of less than 90 days which are not held for sale in the ordinary course of business. At March 31, 2023, the Company did not have any cash equivalents.

#### Credit Risk

The Company's cash is placed with a highly rated financial institution and the Company conducts ongoing evaluations of the credit worthiness of the financial institution with which it does business. At certain times cash balances in the bank account may exceed federally insured limits of \$250,000 of the Federal Deposit Insurance Corporation. At March 31, 2023 the Company had approximately \$653,000 in balances in excess of the federally insured limits.

### Translation of Foreign Currencies

Assets and liabilities denominated in foreign currencies are translated at year end rates of exchange.

#### Property and equipment

The Company records property and equipment at cost providing for depreciation at the time the assets are placed in service. Property and equipment is stated at cost less accumulated depreciation. Depreciation of assets is provided using accelerated methods for financial statement reporting purposes over the estimated useful lives of the assets, which is five years. Property and equipment are fully depreciated at March 31, 2023.

#### Deposit with and Receivable from Clearing Broker

The Company entered into a fully disclosed clearing agreement with a clearing broker on November 23, 2016. The Company made an initial security deposit agreed to by the Company and the clearing broker. At March 31, 2023, the Company has cash of \$250,000 to satisfy its clearing deposit of \$250,000 and commissions of \$866,497 due from their clearing broker.

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# Note 1 - Nature of Business and Summary of Significant Accountinz Policies <continued}

## Valuation of Investments at Fair Value

The Company applies the provisions of ASC 820, Fair Value Measurements ("ASC 820"), which, among other matters, requires disclosures about investments that are measured and reported at fair value. ASC 820 establishes a hierarchical disclosure framework which prioritizes and ranks the level of market price observability used in measuring investments at fair value.

Market price observability is affected by a number of factors, including the type of investment and the characteristics specific to the investment. Investments with readily available active quoted prices or for which fair value can be measured from actively quoted prices generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. Investments measured and reported at fair value are classified and disclosed in one of the following categories:

*Level 1* - Unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access.

*Level 2* - Observable inputs other than quoted prices in level 1 that are observable for the asset or liability either directly or indirectly. These inputs may include quoted prices for the prices for similar assets and liabilities and other observable information that can be corroborated by market data.

*Level* 3 - Unobservable inputs for the asset or liability to the extent that relevant observable inputs are not available, representing the management's own assumptions about the assumptions that a market participant would use in valuing the asset or liability, and that would be based on the best information available.

The Company did not have any investments in securities at March 31, 2023.

#### Credit Losses

The Company complies with ASC Topic 326, Financial Instruments - Credit Losses ("ASC 326"). ASC 326 which 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 the accounting update, the Company has the ability to determine that there are no expected credit losses in certain circumstances ( e.g., based on the credit quality of the customer).

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# Note 1 - Nature of Business and Summary of Significant Accounting Policies teontinued}

### Credit Losses *(* continued)

The Company's commissions (including but not limited to, receivables related to brokerage commissions) are impacted by ASC 326. Commissions receivable amounted to \$866,497 as of March 31, 2023.

# Note 2 - Net Capital **Requirements**

The Company is registered with the Securities and Exchange Commission. The Company does not carry customer accounts and does not accept customer funds or securities.

The Company is subject to the SEC Uniform Net Capital Rule (SEC Rule l 5c3-l ), which requires the maintenance of a minimum amount of net capital and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to 1. At March 31, 2023, the Company had net capital of \$606,147 which was \$511,797 in excess of its net capital requirement of \$94,350. The Company's percentage of aggregate indebtedness to net capital was 233.48% at March 31, 2023.

### **Note** 3 - **Income Taxes**

The Company does not record a provision for federal and state income taxes because the partners report their share of the Company's profits or losses on their income tax returns. The Company files an income tax return in the federal jurisdiction and may file in various states. The Company is subject to New York City Unincorporated Business Tax (''NYCUBT"). Generally, the Company is subject to examination by the major taxing authorities for the three-year period prior to the date of these financial statements.

ASC 740 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. ASC 7 40 requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Company's tax returns to determine whether the tax positions are "more-likely-than-not" of being sustained by the applicable tax authority. Tax positions not deemed to meet the more-likely-than-not threshold would be recorded as a tax benefit or expense in the current year. Management has determined that there are no uncertain tax positions which would require adjustments or disclosures on the financial statements. Accrued interest and penalties related to income tax matters are classified as a component of income tax expense. To date, there have been no such penalties or interest.

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# **Note** 4 - **Property and Equipment**

Property and equipment are stated at cost less accumulated depreciation and are summarized at March 31, 2023 as follows:

| Furniture                      | \$<br>4,343 |
|--------------------------------|-------------|
| Computer equipment             | 692679      |
|                                | 74,022      |
| Less: Accumulated depreciation | 742022      |
|                                | \$<br>0     |

# Note 5 - Commitments and Contin,:encies

In the normal course of its operations, the Company enters into contracts and agreements that contain indemnifications and warranties. The Company's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Company that have not yet occurred. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

## Note 6 - **Related Party** Transactions

Astor Ridge LLP is the majority owner of Astor Ridge N .A. LLP. Registered representatives of Astor Ridge LLP will enter into securities transactions through Astor Ridge N .A. LLP on behalf of United Kingdom customers. The Company pays profit sharing payments to Astor Ridge LLP pays Brighton Family, LLC, a related entity, for administrative fees. As of March 31, 2023, \$601,904 was payable to affiliates consisting primarily of \$380,000 for profit sharing and \$130,000 for administrative fees.

### Note 7 - Subsequent Events

Management has evaluated the Company's events and transactions that occurred subsequent to March 31, 2023, through the date of issuance of these :financial statements. There were no events or transactions that occurred during this period that materially impacted the amounts or disclosures in the Company's financial statements.


Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.