# DORSET PEAK SECURITIES LLC X-17A-5 (2026-02-26) — Broker-dealer annual report - Company: DORSET PEAK SECURITIES LLC - Form: X-17A-5 - Filed: 2026-02-26 - Period: 2025-12-31 - Accession: 0001852503-26-000002 - CIK: 1852503 - File #: 8-70684 - Type: Broker-dealer - Material weakness: No - Auditor: Prager Metis CPAs LLC - Auditor location: Basking Ridge, NJ - Contact: Shari Rothenberg - Phone: 908-743-1307 - Website: pragermetis.com - Signed by: Jack Leventhal (Chief Executive Officer) Original filing: https://www.sec.gov/Archives/edgar/data/1852503/000185250326000002/dpsc25s.pdf --- {0}------------------------------------------------ #### UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 # **ANNUAL REPORTS FORMX-17A-5** PART III | OMB
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70684 | | | | | | | | | | | | | | | | | | | **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 /25** MMIDDNY AND ENDING **12/31 /25** MMIDDNY #### **A. REGISTRANT IDENTIFICATION** # NAME oF FIRM: Dorset Peak Securities LLC 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.) # 5595 Ridge Road | | (No. and Street) | | | |----------------------------------------------|---------------------------------------------------------------------------|-----------------|--| | New Hope | PA | 18938 | | | (City) | (State) | (Zip Code) | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | Shari Rothenberg | (908) 743-1307 | | | | (Name) | (Area Code -Telephone Number) | (Email Address) | | | | B. ACCOUNTANT IDENTIFICATION | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing* | | | | Prager Metis CPAs | | | | | (Name- if individual, state last, frrst, and middle name) | | | | | | | | |-----------------------------------------------------------|-------------------------------------------|---------|------------|--|--|--|--| | 222 Mount Airy Road | Basking Ridge | NJ | 07920 | | | | | | (Address) | (City) | (State) | (Zip Code) | | | | | | 09/29/2003 | | 273 | | | | | | | (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. **l** 7a-5( e )( I )(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}------------------------------------------------ #### AFFIRMATION I, Jack Leventhal , swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to Dorset Peak Securities LLC as of 12/31 /25 , 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. Chief Executive Officer Title {2}------------------------------------------------ #### **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, ifthere 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 ofchanges 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. - □ G) 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. l 5c3- 3 or Exhibit A to 17 CFR 240.1 Sa-4, as applicable. - D (1) Computation for Determination of P AB Requirements under Exhibit A to § 240.15c3-3. - □ (m) Information relating to possession or control requirements for customers under 17 CFR240.15c3-3. - □ (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-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. - □ (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - [El (q) Oath or affirmation in accordance with 17 CFR240.l 7a-5, 17 CFR 240.l 7a-12, or 17 CFR240.18a-7, as applicable. - □ (r) Compliance report in accordance with 17 CFR 240. l 7a-5 or 17 CFR 240.1 Sa-7, as applicable. - □ (s) Exemption report in accordance with 17 CFR240.17a-5 or 17 CFR240.18a-7, as applicable. - [El (t) Independent public accountant's report based on an examination of the statement of financial condition. - □ (u) Independent public accountant's report based on an examination of the financial report or fmancial 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 CFR240.17a-5 or 17 CFR240.18a-7, as applicable. - □ (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR 240.1 Sa-7, as applicable. - □ (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-le or 17 CFR 240.l 7a-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.l 7a-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. {3}------------------------------------------------ # **Dorset Peak Securities LLC** (a wholly-owned subsidiary of Dorset **Peak** Solutions LLC) Statement of Financial Condition Pursuant to Rule 17a-5 under the Securities Exchange Act of 1934 December 31, 2025 {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) ## Report of Independent Registered Public Accounting Firm To the Sole Member of Dorset Peak Securities LLC Opinion on the Financial Statement #### Prager Metis CPAs, LLC 222 MOUNT AIRY ROAD BASKING RIDGE, NJ 07920 T 908.766.9800 F 908.766.9811 www.pragermetis.com We have audited the accompanying statement of financial condition of Dorset Peak Securities LLC (the Company) as of December 31, 2025, 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 Dorset Peak Securities LLC as of December 31, 2025 in conformity with accounting principles generally accepted in the United States of America. #### Basis for Opinion This financial statement is the responsibility of the Companys management. Our responsibility is to express an opinion on the Companys 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 U. S. Securities and Exchange Commission (SEC) 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. Prager Metis CPAs, LLC We have served as Dorset Peak Securities LLCs auditor since 2024. Basking Ridge, New Jersey February 24, 2026 ![](_page_4_Picture_13.jpeg) {5}------------------------------------------------ # **Dorset Peak Securities LLC** **(a wholly-owned subsidiary of Dorset Peak Solutions LLC)** ## **Statement of Financial Condition December 31, 2025** | Cash
Prepaid expenses | \$
201,000
9,673 | |-----------------------------------------------------------------------------------------|------------------------| | Total assets | \$
210,673 | | Liabilities and Member's Equity
Liabilities
Accounts payable and accrued expenses | \$
713 | | Member's equity | 209,960 | | Total liabilities and member's equity | \$
210,673 | The accompanying notes are an integral part of this financial statement. {6}------------------------------------------------ # **Dorset Peak Securities LLC (a wholly-owned subsidiary of Dorset Peak Solutions LLC)** ## **Notes to Statement of Financial Condition December 31, 2025** #### **1. Organization** Dorset Peak Securities LLC (the "Company"), a Delaware limited liability company, is a brokerdealer registered with the Securities and Exchange Commission ( the "SEC") and is a member of the Financial Industry Regulatory Authority. The Company is a wholly-owned subsidiary of Dorset Peak Solutions LLC (the "Parent"). The Company provides services for mergers and acquisitions, capital raising and other strategic transactions. #### **2. Summary of significant accounting policies** #### **Basis of presentation** This financial statement was prepared in conformity with accounting principles generally accepted in the United States of America 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 statement and the amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. #### **Cash** All cash deposits are held by one financial institution and therefore are subject to the credit risk at that financial institution. The Company has not experienced any losses in such accounts and does not believe there to be any significant credit risk with respect to these deposits. #### **Income taxes** The Company is a single member limited liability company and is therefore treated as a disregarded entity for income tax reporting purposes. The Internal Revenue Code provides that any income or loss is passed through to the ultimate beneficial individual member for federal, state and local income taxes. Accordingly, the Company has not provided for federal, state and local income taxes. At December 31, 2025, 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. In December 2023, the FASB issued ASU 2023-09 which amends the disclosure requirements for income taxes. The amendments require SEC-registered entities such as the Company to disclose specific categories in the income tax rate reconciliation, presented both as percentages and reporting currency amounts. The amended guidance is effective for the Company on January 1, 2025. The Company has evaluated the pronouncement and determined it is not applicable and has no impact on this financial statement and related disclosures because the Company has no income tax provision. #### **Allowance for credit losses** Accounting Standards Codification ("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). {7}------------------------------------------------ # **Dorset Peak Securities LLC** **(a wholly-owned subsidiary of Dorset Peak Solutions LLC)** ## **Notes to Statement of Financial Condition December 31, 2025** #### **2. Summary ofsignificant accounting policies (continued)** #### **Allowance for credit losses ( continued)** 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. The Company has not provided an allowance for credit losses at December 31, 2025. #### **Subordinated liabilities** Commissions are payable to the salesperson only when the related receivables are collected. In addition, any liabilities to salespersons in this regard are subordinated to the claims of general creditors yet they are not considered part of regulatory capital. At December 31, 2025, the Company had no subordinated liabilities. #### **3. Transactions with related party** The Company has an expense sharing agreement with Cobbs Allen Capital, LLC ("CAC") whereby accounting, administrative, office space, human resources, payroll and other services are provided. Costs are allocated to the Company based on a reasonable percentage of the Company's usage of these shared resources. This will be evaluated at least annually to determine if changes need to be made based on changes in the usage of resources or additions of other categories of resources. As of January 1, 2026 this agreement has been terminated. All transactions with the related party are settled in the normal course of business. The terms of any of these arrangements may not be the same as those that would otherwise exist or result from agreements and transactions among unrelated parties. #### **4. Regulatory requirements** The Company is subject to SEC Uniform Net Capital Rule 15c3-1 under the Securities Exchange Act of 1934, 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, 2025, the Company had net capital of approximately \$200,300 which exceeded the required net capital by approximately \$195,300. {8}------------------------------------------------ # **Dorset Peak Securities LLC (a wholly-owned subsidiary of Dorset Peak Solutions LLC)** ## **Notes to Statement of Financial Condition December 31, 2025** #### **5. Segment reporting** The Company follows ASC 280, *Segment Reporting* (including adoption of ASU 2023-07), which requires companies to disclose segment data based on how management makes decisions about allocating resources to segments and evaluating performance. The Company conducts its business activities and reports financial results as a single reportable brokerage services segment. The Chief Operating Decision Maker ("CODM") makes decisions about allocating resources and assessing performance in a manner consistent with the way the Company operates its business and presents their financial results. The CODM is the Chief Executive Officer. The net income is used by the CODM to evaluate the results of the business to manage the company. Additionally, the CODM uses excess net capital, which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy. 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. The nature of business and accounting policies of the brokerage services segment are the same as described in the organization and summary of significant accounting policies notes. #### **6. Subsequent events** Management of the Company has evaluated events or transactions that may have occurred since December 31, 2025 and through the date this financial statement was issued and determined that there are no material events that would require adjustment to or disclosure in the Company's financial statement. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.