# CADIA CAPITAL ADVISORS, LLC X-17A-5 (2024-03-26) — Broker-dealer annual report - Company: CADIA CAPITAL ADVISORS, LLC - Form: X-17A-5 - Filed: 2024-03-26 - Period: 2023-12-31 - Accession: 0001671292-24-000002 - CIK: 1671292 - File #: 8-69763 - Type: Broker-dealer - Material weakness: No - Auditor: Phillip V. George, PLLC - Auditor location: Ballsbridge, TX - Contact: Deirdre Patten-Kowalski - Phone: 2814196030 - Email: dpatten@pattentraining.com - Website: pattentraining.com - Signed by: Deirdre Patten Kowalski (CCO) Original filing: https://www.sec.gov/Archives/edgar/data/1671292/000167129224000002/23auditpublic.pdf --- {0}------------------------------------------------ **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** | ANNUAL REPORTS | |----------------| | FORM X-17A-S | | PART Ill | | 0MB APPROVAL | | | | | |--------------------------|--|--|--|--| | 0MB Number: 3235-0123 | | | | | | Expires: Nov. 30, 2026 | | | | | | Estimated average burden | | | | | | hours per response: 12 | | | | | SEC FILE NUMBER 8-69763 **F ACING 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 **1/1/2023** AND ENDING **12/31/2023** MM/DD/VY MM/DD/VY **A. REGISTRANT IDENTIF ICATION** NAME oF FIRM: Cadia Capital Advisors, LLC TYPE OF REGISTRANT (check all applicable boxes): 0 Broker-dealer □ Security-based swap dealer □ 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.) ## 10 Pembroke Place | | (No. and Street) | | | | |---------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------|-----------------|--------------------------------------------|--| | Ballsbridge | Ireland | | D04 V1W6 | | | (City) | (State) | | (Zip Code) | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | Deirdre Patten Kowalski | 281-419-6030 | | dpatten@pattentraining.com | | | (Name) | (Area Code -Telephone Number) | (Email Address) | | | | | B. ACCOUNTANT IDENTIF
ICATION | | | | | Phillip V. George, PLLC | (Name - if individual, state last, first, and middle name) | | | | | 5179 CR 1026 | Celeste | TX | 75423 | | | (Address) | (City) | (State) | (Zip Code) | | | "
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Claims for exemption from the requirement that the annual reports be covered by the reports of an independent public | | | | | \* 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, Deirdre Patten Kowalski | swear (or affirm) that, to the best of my knowledge and belief, the | |----------------------------------------------------------------------------------------|---------------------------------------------------------------------| | financial report pertaining to the firm of Cadia Capital Advisors, LLC
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Title: | | �.°;;;;�� | (Co | #### **This filing\*\* contains (check all applicable boxes):** - 1B (a) Statement of financial condition. - D (b) Notes to consolidated statement of financial condition. - D (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 (d) Statement of cash flows. - D (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - D (f) Statement of changes in liabilities subordinated to claims of creditors. - ii (g) Notes to consolidated financial statements. - D (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-l, as applicable. - D (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. - D (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. - D {I) Computation for Determination of PAB Requirements under Exhibit A to§ 240.15c3-3. - D (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - D (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. - D (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under 17 CFR 240.15c3-l, 17 CFR 240.18a-l, 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. - D (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - 1B (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. - D (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - D (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - D (t) Independent public accountant's report based on an examination of the statement of financial condition. - 1B (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. - 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 240.18a-7, as applicable. - D (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 procedures, in accordance with 17 CFR 240.15c3-le or 17 CFR 240.17a-12, as applicable. - D (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). - D (z) Other:------------------------------------- - *0To 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.* {2}------------------------------------------------ # Cadia Capital Advisors, LLC (DBA Rubicon Capital Advisors) Annual Audited Report Form X-17A-5 Part III SEC File No. 8-69763 For the Year Ended December 31, 2023 and Report of Independent Registered Public Accounting Firm {3}------------------------------------------------ #### **Cadia Capital Advisors, LLC (OBA Rubicon Capital Advisors)** #### **Table of Contents** | Report of Independent Registered Public Accounting Firm | 1 | |---------------------------------------------------------|-----| | Financial Statements | | | Statement of Financial Condition | 2 | | Notes to Financial Statements | 3-5 | {4}------------------------------------------------ ### PHILLIP V. GEORGE, PLLC CERTIFIED PUBLIC ACCOUNTANT #### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Member Cadia Capital Advisors, LLC dba Rubicon Capital Advisors #### Opinion on the Financial Statement We have audited the accompanying statement of financial condition of Cadia Capital Advisors, LLC dba Rubicon Capital Advisors (Cadia Capital Advisors, LLC) as of December 31, 2023, and the related notes (collectively referred to as the financial statement). In our opinion, the statement of financial condition presents fairly, in all material respects, the financial position of Cadia Capital Advisors, LLC as of December 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 Cadia Capital Advisors, LLC's management. Our responsibility is to express an opinion on Cadia Capital Advisors, LLC's financial statement based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to Cadia Capital Advisors, LLC in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement is free of material misstatement, whether due to error or fraud. Our audit included performing procedures to assess the risks of material misstatement of the financial statement, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion. PHILLIP V. GEORGE, PLLC We have served as Cadia Capital Advisors, LLC's auditor since 2023. Celeste, Texas March 25, 2024 ![](_page_4_Picture_13.jpeg) {5}------------------------------------------------ ### Cadia Capital Advisors, LLC (DBA Rubicon Capital Advisors) Statement of Financial Condition December 31, 2023 | Assets | | |--------------------------------------|--------------| | Cash | \$ 1,502,296 | | Accounts | | | Receivable | 208,800 | | Prepaid Expenses and Other Assets | 13,850 | | Total Assets | 1,724,946 | | Liabilities & Member's Deficit | | | Liabilities | | | Accounts Payable and Accrued | | | Liabilities | \$ 132,399 | | Payable to | | | Affiliates | 473,326 | | Subordinated Borrowings | 5,500,000 | | | 6,105,725 | | Member's Deficit | -4,380,779 | | Total Liabilities & Member's Deficit | 1,724,946 | The accompanying notes are an integral part of these financial statements. {6}------------------------------------------------ #### Note 1. Nature of Business and Summary of Significant Accounting Policies #### Nature of Business Cadia Capital Advisors, LLC DBA Rubicon Capital Advisors (the "Company") was organized in December 2015 as a Delaware limited liability Company. The Company is a wholly owned subsidiary of Cadia Capital Ireland Limited (the "Parent"). The Company is registered as a broker-dealer with the Securities and Exchange Commission ("SEC") and is a member of the Financial Industry Regulatory Authority, Inc. ("FINRA") and Securities Investor Protection Corp. ("SIPC"). The U.S. dollar(\$) is the functional currency of the Company. The Company is considered a Non-Covered Firm exempt from 17 C.F.R. § 240.15c3-3 relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5. The Company limits its business activities exclusively to private placements of securities, mergers and acquisitions and investment banking. The Company's operations consist primarily of providing merger and acquisition and investment banking services to companies in the infrastructure and renewable energy space. #### Significant Accounting Policies: #### Use of Estimates The preparation of financial statements in conformity 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. #### Current Expected Credit Losses The Company accounts for estimated credit losses on financial assets measured at an amortized cost basis and certain off-balance sheet credit exposures in accordance with FASB ASC 326-20, Financial Instruments - Credit Losses. FASB ASC 326-20 requires the Company to estimate expected credit losses over the life of its financial assets and certain off-balance sheet exposures as of the reporting date based on relevant information about past events, current conditions, and reasonable and supportable forecasts. The Company records the estimate of expected credit losses as an allowance for credit losses. For financial assets measured at an amortized cost basis the allowance for credit losses is reported as a valuation account on the balance sheet that adjusts the asset's amortized cost basis. Changes in the allowance for credit losses are reported in Credit Loss expense. {7}------------------------------------------------ #### Note 1. Summary of Significant Accounting Policies (Continued) #### Revenue Recognition Revenue from contracts with customers includes advisory services on mergers and acquisitions (M&A). The recognition and measurement of revenue is based on the assessment of individual contract terms. Significant judgment is required to determine whether performance obligations are satisfied at a point in time or over time; how to allocate transaction prices where multiple performance obligations are identified; when to recognize revenue based on the appropriate measure of the Company's progress under the contract; and whether constraints on variable consideration should be applied due to uncertain future events. Revenue for M&A advisory arrangements is generally recognized at the point in time that performance under the arrangement is completed, generally the closing date of the transaction. #### Income Taxes The Company is a single member limited liability company and has elected to be treated as a domestic corporation for Federal, New York State and New York City income tax purposes. #### Note 2. Liabilities Subordinated to General Creditor The Company has entered into subordinated loan agreements with the Parent at December 31, 2023 as follows: | Subordinated note, 4%, due July 11, 2025 | \$3,000,000 | |----------------------------------------------|-------------| | Subordinated note, 4%, due December 15, 2025 | \$1,000,000 | | Subordinated note, 4%, due May 4, 2026 | \$1.000.000 | | Subordinated note, 4%, due December 21, 2026 | \$ 500,000 | | | | Interest expense for the year ended December 31, 2023, totaled \$187,385. The subordinated loans have been approved by FINRA and are available in computing net capital under the SEC's Uniform Net Capital Rule. To the extent that such borrowing is required for the Company's continued compliance with net capital requirements, they may not be repaid. #### Note 3. Concentration of Credit Risk and Revenue At various times during the year the Company maintains cash balances at one national bank in excess of federally insured amounts. Cash balances fluctuate on a daily basis. At December 31, 2023, cash held in excess of the FDIC insurance totaled \$1,252,197. \$5.500.000 {8}------------------------------------------------ ### Cadia Capital Advisors, LLC (DBA Rubicon Capital Advisors) Notes to Financial Statement December 31, 2023 The Company's revenue for 2023 was earned from three customers. #### Note 4. Subsequent Events The Company has performed an evaluation of events that have occurred subsequent to December 31, 2023, and through March 25, 2024, the date the financial statements were available to be issued. There have been no material subsequent events that occurred during such period that would require disclosure in this report or would be required to be recognized in the financial statements as of December 31, 2023. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.