# IVY HILL IRBD, LLC X-17A-5 (2022-03-29) — Broker-dealer annual report - Company: IVY HILL IRBD, LLC - Form: X-17A-5 - Filed: 2022-03-29 - Period: 2021-12-31 - Accession: 0001815446-22-000002 - CIK: 1815446 - File #: 8-70544 - Type: Broker-dealer - Material weakness: No - Auditor: RSM US LLP - Auditor location: Chicago, IL - Contact: Matthew Butler - Phone: 212-751-4422 - Signed by: Keri Gammill (Co-founder) Original filing: https://www.sec.gov/Archives/edgar/data/1815446/000181544622000002/lushorr.pdf --- {0}------------------------------------------------ #### STATEMENT OF FINANCIAL CONDITION Ivy Hill **IRBD,** LLC December 31, 2021 With Report of Independent Registered Public Accounting Firm Filed as PUBLIC Information Pursuant Rule 17a-5(d) Under the Securities Exchange Act of 1934 {1}------------------------------------------------ **UNITED STATES SECURITIES AND EXCHANGE COMMISSION W ashington, D.C. 20549** 0MB APPROVAL 0 MB Number: 3235-0123 Expires: Oct. 31, 2023 Estimated average burden hours per response: 12 # **ANNUAL REPORTS FORM X-17A-5 PART Ill** | SEC FILE NUMBER | | |-----------------|--| | 8-70544 | | **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 12/04/20 | | AND ENDING 12/31 /21 | ---------- | | | | | MM/DD/YY | | MM/DD/YY | | | | A. REGISTRANT IDENTIFICATION | | | | | | | NAME OF FIRM: Ivy Hill IRBD, LLC | | | | | | | TYPE OF REGISTRANT (check all applicable boxes):
D Major security-based swap participant
□ Security-based swap dealer
C!J Broker-dealer
□ Check here if respondent is also an OTC derivatives dealer | | | | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | | | | 267 Ivy Hill Road | | | | | | | | (No. and Street) | | | | | | Ridgefield | Connecticut | | 06877 | | | | (City) | (State) | | [Zip Code) | | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | Matthew Butler | 212-751-4422 | mbutler@dfppartne rs. com | | | | | {Name) | (Area Code - Telephone Number) | (Email Address) | | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing* | | | | | | | RSM US LLP | | | | | | | | (Name - if individual, state last, first, and middle name) | | | | | | 30 South Wacker | Chicago | IL | 60606 | | | | (Address) | (City) | {State) | {Zip Code) | | | | 09/24/2003 | | 49 | | | | | | | | I
(PCAOB Reg;straCFR 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. | accountant must be supported by a statement of facts and circumstances relied on as t he basis of the exempt ion. See 17 | | | | | {2}------------------------------------------------ #### **OATH OR AFFIRMATION** I, Keri Gammill swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of Ivy Hill lRBD, LLC , as of **12/31** , 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. **~.u.. .. .,.~.\_.llod:.,....1W11.i;w;ture:** , '"«,\_ ,;:, '" My JENNIFER Notary February Commission ID LENA #12887370f**a,** 2024 Expires lD(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. {3}------------------------------------------------ # Ivy Hill **IRBD,** LLC (A Limited Liability Company) # Financial Statement and Supplemental Information December 31, 2021 # **Contents** | Report oflndependent Registered Public Accounting Firm 1 | | |------------------------------------------------------------------------|--| | Financial Statement | | | Statement of Financial Condition 2
Notes to Financial Statement 3 | | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) **RSMUSLLP** #### **Report of Independent Registered Public Accounting Firm** Managing Members of Ivy Hill lRBD, LLC #### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of Ivy Hill IRBD, LLC (the Company) as of December 31, 2021, and the related notes to 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, 2021, 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 the Company'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 the Company in accordance with 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. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion. 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 2021. Chicago, Illinois March 29, 2022 **THE POWER OF BEING UNDERSTOOD** AUDIT I TAX I CONSULTING {5}------------------------------------------------ # Ivy Hill **IRBD,** LLC (A Limited Liability Company) # Statement of Financial Condition December 31, 2021 | Assets | | |-------------------------------------------------------------|------------------------| | Cash | \$
124,694 | | Accounts receivable | 111,344 | | Prepaid expenses | 84,431 | | Total assets | \$
320,469 | | Liabilities and Members' equity | | | Accrued expenses and other liabilities
Total liabilities | \$
39 749
39 749 | | Members' equity | 280,720 | | Total liabilities and Members' equity | \$
320,469 | *See accompanying notes to financial statement.* {6}------------------------------------------------ # Ivy Hill IRBD, LLC (A Limited Liability Company) ## Notes to Financial Statement December 31, 2021 ### 1. Organization Ivy Hill was formed on May 18, 2020 as a Delaware LLC. The Company is a broker-dealer registered with the Securities and Exchange Commission and is a member of the Financial Industry Regulatory Authority (FINRA), registered on December 4, 2020. The Company acts as a capital acquisition broker (CAB) that includes as part of its services the marketing of private placements to institutional investors and some high net worth investors. ### 2. Summary of Significant Accounting Policies ### Basis of Accounting The accompanying financial statements are prepared in accordance with United States Generally Accepted Accounting Principles (GAAP). ### Income Taxes The Company is taxed as a partnership for U.S. income tax purposes and has no federal or state income tax liability. Companys income is included in the federal and state income tax returns of its members. At December 31, 2021, management has determined that the Company had no uncertain tax positions that would require financial statement recognition. #### Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. {7}------------------------------------------------ #### **Revenue Recognition** The Company has adopted Accounting Standards Update No. 2014- 09 Revenue from Contracts with Customers and the additional related ASUs ("ASC 606") which replaced previous revenue guidance and outlined a single set of comprehensive principles for recognizing revenue under GAAP. The Company had receivables of\$40,000 and \$111,344 related to revenue with customers as of December 4, 2020 and December 31, 2021, respectively. The adoption of ASC 606 represents a change in accounting principle that will more closely align revenue recognition with the delivery of the Company's goods and services and will provide the financial statement readers with enhanced disclosures. Interest income is scoped out of ASC 606. These standards provide guidance on recogmzmg revenue, including a five-step method to determine when revenue recognition is appropriate. Accordingly, the Company follows these steps in recognizing revenue from its contracts with customers: Step 1 : Identify the contract with the customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations Step 5: Recognize revenue as the Company satisfies a performance obligation #### *Capital acquisition and Consulting fees* Capital acquisition fee revenue from investment banking and consulting fees are recorded in accordance with the terms of the related investment banking and consulting service agreements. These agreements are generally recognized at the point in time that performance under the arrangement is completed (the closing date of the transaction) or the contract is cancelled. The Company believes that the transaction date is the appropriate point in time to recognize revenue for investment banking and consulting transactions as there are no significant actions which the Company needs to take subsequent to this date and the issuer obtains the control and benefit of either the offering or transaction at that point. However, for certain contracts, revenue is recognized over time for consulting arrangements in which the performance obligations are simultaneously provided by the Company and consumed by the customer. {8}------------------------------------------------ ### **3. Related parties** The Company's founding members receive monthly guaranteed payments as form of compensation. As of December 31, 2021, \$25,000 of prepaid expenses were related to guaranteed payments. ### **4. Regulatory Requirements** The Company is a registered broker-dealer under the Securities Exchange Act of 1934 (the Act) and, as such, must comply with the rules and regulations thereunder. Pursuant to the net capital provisions of Rule 15c3-1 under the Act, the Company is required to maintain minimum net capital (as defined) equal to the greater of \$5,000 or 12-1/2 percent of aggregate indebtedness (basic method). As of December 31, 2021, the Company had net capital of\$84,945, which was \$79,945 in excess of its required minimum net capital of \$5,000. The Company was in compliance with such requirements. The Company will not make withdrawals that will render the Company net capital deficient. ### **5. Concentration of Credit Risk** The Company maintains its cash and cash equivalents with one financial institution, which at times may exceed federal insured limits. ### **6. Indemnifications** From time to time, the Company may become involved in various legal matters and regulatory inquiries or examinations in the ordinary course of business. The Company is not aware of any material contingencies relating to such matters that would require accrual or disclosure in the financial statements or their notes as of December 31, 2021. ### **7. Subsequent Events** The Company has evaluated subsequent events through March 29, 2022, the date as of which these financial statements were issued and has determined that there are no additional subsequent events, occurring during such period that would require recognition or disclosure in these financial statements. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.