# BETHEL LANDING SECURITIES LLC X-17A-5 (2025-05-30) — Broker-dealer annual report - Company: BETHEL LANDING SECURITIES LLC - Form: X-17A-5 - Filed: 2025-05-30 - Period: 2025-03-31 - Accession: 0001910349-25-000003 - CIK: 1910349 - File #: 8-70881 - Type: Broker-dealer - Material weakness: No - Auditor: LMHS PC - Auditor location: Norwel, MA - Contact: Mark T Manzo - Phone: 2015191905 - Email: mmanzo@moppartners.com - Website: moppartners.com - Signed by: Gil O Aikins (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1910349/000191034925000003/2025bethelsecedannualrptpub.pdf --- {0}------------------------------------------------ ## **Bethel Lantling Securities, LLC** **Statement of Financial Condition For the Year Ended March 31, 2025** {1}------------------------------------------------ ### **Bethel Landing Securities, LLC** #### **March 31, 2025** #### **Table of Contents** | Facing page and Oath or Affirmation Page | 1-2 | |--------------------------------------------------------|------| | Report oflndependent Registered Public Accounting Firm | 3 | | Financial Statements | | | Statement of Financial Condition | 4 | | Notes to the Financial Statements | 5-10 | {2}------------------------------------------------ **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** # **ANNUAL REPORTS FORM X-17 A-5 PART Ill** | 0MB APPROVAi | | | | | |----------------------------|--|--|--|--| | 0MB Number: 3235-0123 | | | | | | Expires· Nov 30, 20]6 | | | | | | Estirndted aver<1ge burden | | | | | | hours per response
I� | | | | | sec me NUMBrn 8-70881 **I** **FACING PAGE** **Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities E>cchange Act of 1934** | FILING FOR THE PERIOD BEGINNING 04/01 /24 | | AND ENDING 03/31 /25 | | |-------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------|----------------------|------------------------------------------| | | MM/DD/YY | | MM/DD/YY | | | A. REGISTRANT IDENTIFICATION | | | | NAME OF FIRM: BETHEL LANDING SECURITIES LLC | | | | | TYPE OF REGISTRANT (check all applicable boxes):
0 Broker-dealer
C Check here if respondent is also an OTC derivatives dealer | O Security-based swap dealer | | :J Major security-based swap participant | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | | 125 MILE COMMON RD | | | | | | (No. and Street) | | | | Easton | CT | | 06612 | | (City) | (State) | | (Zip Code) | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | Mark T Manzo | (201) 519-1905 | | mmanzo@moppartners.com | | (Na me) | (Area Code - Telephone Numb r) | (Ema,1 Address) | | | | B. ACCOUNTANT IDENTIFICATION | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing"" | | | | | LMHS, P.C. | | | | | | (Name - if individual, state last, first, and middle name) | | | | 80 Washington St.,Bldg S | Norwell | MA | 02061 | | (Address) | (City) | (State) | (Zip Code) | | 3373
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• 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)(l)(il), 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.** {3}------------------------------------------------ #### OATH OR AFFIRMATION 11/11 applicable. | Gil O Aıkins | swear (or affirm) that, to the best of my knowledge and belief, the | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------| | financial report pertaining to the firm of BETHEL LANDING SECURITIES LLC | , as or | | 3/31 | 2 025 _ 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. | | | | | | Signature:
Andrew Spencer Kurian | | | Notary Public - Connecticut
My Commission Expires | | | Title:
July 31, 2027
CCO | | | | | | 5/6/2.
Motary Public | | | | | | This filing ** contains (check all applicable boxes): | | | (a) Statement of financial condition. | | | (b) Notes to consolidated statement of financiai condition. | | | (c) Statement of income (loss) or, if there is other comprehensive 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 sole proprietor's equity. | | | [f] Statement of changes in liabilities subordinated to claims of creditors. | | | [g) Notes to consolidated financial statements. | | | (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, 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 | | | worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-2, 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. | | | (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. | | | (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 statements under 17 | | | CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. | | | | | | CFR 240.17a-5 or 17 CFR 240.18a-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 240.18a-7, as applicable. | | | [1 (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.17a-12, | | | as applicable. | | | J (y) Report describing any material nadequacies 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 reavest confidential treatment of certain portions of this filing, see 17 CFR 240.18c-7(d/2), as | | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) #### *Report of Independent Registered Public Accounting Firm* To the Member Bethel Landing Securities LLC Easton, Connecticut #### *Opinion on the Financial Statements* We have audited the accompanying statement of financial condition of Bethel Landing Securities LLC, as of March 31, 2025, and the related notes ( collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of Bethel Landing Securities LLC as of March 31, 2025, in conformity with accounting principles generally accepted in the United States of America. #### *Basis for Opinion* These financial statements are the responsibility of the entity's management. Our responsibility is to express an opinion on these financial statements 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 Bethel Landing Securities 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 statements are free of material misstatement, whether due to error or fraud. Our audit included perfonning procedures to assess the risks of material misstatement of the financial statements, 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. *L/v!HS, ?.* C LMHS, P.C. We have served as the Bethel Landing Securities LLC's auditor since 2025. Norwell, Massachusetts May 29, 2025 ![](_page_4_Picture_12.jpeg) ![](_page_4_Picture_14.jpeg) {5}------------------------------------------------ #### Assets | Cash | S | 11,712 | |---------------------------------------|----|--------| | Prepaid expenses | | 2,127 | | Due from affiliate | | 249 | | | | | | Total Assets | \$ | 14,088 | | | | | | | | | | | | | | | | | | Liabilities and Member's Equity | | | | | | | | Liabilities | | | | Accounts payable and accrued expenses | S | 2,731 | | | | | | Total Liabilities | | 2,731 | | | | | | | | | | Member's Equity | | | | Member's equity | | 11,357 | | Total Member's Equity | | 11,357 | | | | | | Total Liabilities and Member's Equity | \$ | 14,088 | | | | | The accompanying notes are an integral part of these financial statements. {6}------------------------------------------------ #### **NOTE 1 - ORGANIZATION AND NATURE OF BUSINESS:** Bethel La nding Secu rities LLC (the "Company") was formed as a limited liability company in Delaware on October 4, 2017. The Company is a registered broker-dea ler with the U .S. Securities and Excha nge Commission ("SEC") and is a member of both the Fina ncia l Industry Regulatory Authority, I nc. ("FINRA") and the Securities Investors Protection Corporation ("SI PC"). The Company is a registered Corporate Fina nce Broker Dea ler authorized to provide private placement of securities services a nd advisory services to private entities concerning secu rities offeri ngs and private ca pita l raising activities including, but not limited to, identifying, qual ifying, and sol iciting institutional and certain other investors for such activities. ### **NOTE 2 - SUMMARY OF SIGNI FICANT ACCOUNTING POLICIES:** ### **Basis of Presentation** The accompanying fina ncia l statement has been prepared on the accrual basis of accounting in accorda nce with accounti ng principles generally accepted in the United States of America ("GAAP") as detailed in the Fina ncia l Accounting Sta ndards Boa rd's ("FASB") Accounting Standards Codification ("ASC"). ### **Use of Estimates** These financia l statements and related disclosures were prepared in conformity with accounting principles generally accepted in the United States which require ma nagement to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities at the date of the fina ncia l statement, and the reported a mounts of income and expenses during the reporting period. Accordingly, actual results could differ from those estimates. #### **Accounts Receivable** The Company ca rries its accounts receiva ble at cost less an al lowa nce for dou btful accounts. On a periodic basis, the Compa ny eva luates its accounts receiva ble a nd esta blishes an a l lowa nce for doubtful accounts based on historica l experience, credit quality, age of bala nces and cu rrent and future economic conditions that may affect the Compa ny's expectation of collecta bility. An al lowa nce for doubtfu l accounts was not required at March 3 1, 2025. There was no bad debt expense for the period ended March 31, 2025. {7}------------------------------------------------ #### **NOTE 2 - SUMMARY OF SIGNI FICANT ACCOUNTING POLICIES (CONTINUED)** #### **Going Concern** The accompa nying fina ncia l statement has been prepa red assuming that the Company will continue as a going concern. The Company is currently dependent on its owner to fund its ongoing operations as the Company has not yet generated sufficient revenue. The owner intends to provide additiona l fina ncing through direct contributions of ca pita l until positive cash flows are generated. The owner is not contractua lly obligated to continue to provide support. ### **Revenue Recognition** #### *Advisory and Commissions Income* The Company engages in advisory and consu lting services from debt and ca pita l raising for business entities. Revenue from ongoing advisory and consulting services is recognized and earned at the point in time that the performa nce under the arra ngement is completed, which is when a successful closing occu rs or upon ca ncel lation of the agreement. Payments for ongoing advisory and consulting services are paya ble in accorda nce with the terms of their contract under normal trade terms. Success fees a re recognized and paya ble on the closing date (the date on which the buyer purchases the securities from the seller) for the portion the Company is contracted to ea rn in accorda nce with its agreements. The Company believes that the closing date is the appropriate point in time to recognize success fees for advisory and consulting tra nsactions, as there are no significa nt actions which the Company needs to ta ke subseq uent to this date. As of March 3 1, 2025, there were no deferred expenses related to any open contracts; if an engagement is ended without a success fee, related costs are charged to expense at that point in time. The revenue recognition guida nce req uires that an entity recognize revenue to depict the tra nsfer of promised goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in excha nge for those goods and services. The guida nce req uires an entity to follow a five step model to (a) identify the contract(s) with a customer, (b) identify the performa nce obligations in the contract, (c) determine the tra nsaction price, (d) al locate the tra nsaction price to the performa nce obligations in the contract, and (e) recognize revenue when (or as) the entity satisfies a performance obligation. In determining the transaction price, an entity may include va ria ble consideration only to the extent that it is proba ble that a significa nt reversa l in the amount of cumulative revenue recognized would not occur when the uncerta inty associated with the va ria ble consideration is resolved. {8}------------------------------------------------ #### **NOTE 2 - SUMMARY OF SIGNI FICANT ACCOUNTING POLICIES (CONTINUED)** #### **Revenue Recognition Continued** Contract assets arise when the revenue associated with the contract is recognized prior to the Compa ny's unconditional right to receive payment under a contract with a customer and are derecognized when either it becomes a receiva ble, or the cash received. Contract liabilities arise when customers remit contractual cash payments in adva nce of the Company satisfying its performa nce obl igation under the contract and are derecognized when the revenue associated with the contract is recognized when the performance obl igation is satisfied. The Company has no contract assets or liabilities at April 1, 2024 and Ma rch 31, 2025. #### *Referral fee income* The Company has a referral agreement with a registered broker-dealer whereby the Company wi ll introd uce a client to the broker-dea ler for the purpose of providing certain services to the referred client. The Company wi ll receive a referral fee of 15% of the net revenue received from each referred client based on the specific tra nsaction or services being provided. The Company sha ll receive the fee within 15 days of the broker-dea ler receiving payment from the cl ient. During the period ending March 31, 2025, the Company received a referral fee of \$375 pursuant to the terms of the agreement. #### *Significant Judgment* Significa nt judgment is req uired to determine whether performa nce obl igations are satisfied at a point in time or over time; how to allocate tra nsaction prices where multiple performa nce obl igations are identified; when to recognize revenue based on the appropriate measure of the Compa ny's progress under the contract; and whether constraints on va ria ble consideration should be a pplied due to uncertain futu re events. #### **Income Taxes** The Company is a single member limited liability company that is deemed to be a disrega rded entity for income tax purposes. The taxa ble income or loss of the Compa ny is allocated to its member. The Company has no tax sharing arra ngement and accordingly has no commitment to fund or receive amou nts for any tax liabilities or benefits with earnings of the Compa ny. Accordi ngly, the Compa ny has not provided for federa l or state income taxes. {9}------------------------------------------------ #### *BETHEL LANDING SECURITIES LLC NOTES TO FINANCIAL STATEMENTS MARCH 31, 2025* **NOTE 2 - SUMMARY OF SIGNI FICANT ACCOUNTING POLICIES (CONTINUED)** ### **Income Taxes Continued** At March 3 1, 2025, ma nagement had determined that the Company had no uncerta in tax positions that would require fina ncia l statement recognition. This determination wi ll be subject to ongoing reeva l uation as facts and circumsta nces may require. Interest and pena lties assessed, if any, are recorded as income tax expense. The Company is registered in the state of Delawa re and is subject to Delawa re state fra nchise tax. The Company recorded fra nchise tax of \$350 during the yea r ended March 3 1, 2025. ### **NOTE 3 - NET CAPITAL REQUIREMENTS:** The Company is subject to the Securities and Excha nge Commission Uniform Net Ca pita l Rule (SEC rule 15c3-I), which requires the maintenance of minimum net ca pita l, and req uires that the ratio of aggregate indebtedness to net ca pita l, both as defined, sha ll not exceed 15 to 1. Rule 15c3-I also provides that equity ca pita l may not be withdrawn or cash dividends paid if the resu lting net ca pita l ratio would exceed 10 to 1. At March 31, 2025, the Company had net ca pita l of \$8,98 1 which was \$3,981 in excess of its required net ca pita l of \$5,000. The Compa ny's ratio of aggregate indebtedness to net ca pita l was .3041 to 1. ### **NOTE 4- CONCENTRATIONS OF CREDIT RISK:** ### **Cash** For the pu rposes of the statement of fina ncia l condition classification and statement of cash flows presentation, the Company has defined cash equiva lents as highly liquid investments, with original matu rities of less than three months that are not held for sa le in the ordi nary course of busi ness. The Company cu rrently maintains cash ba lances in one financia l institution which, at times, may exceed the a mount insured by the Federa l Deposit I nsura nce Corporation (FDIC). The Company has not incurred any losses on this account. ### **NOTE S - RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS:** ### **FASB ASU 2023-07, Segment Reporting (Topic280): Improvements to Reportable Segment Disclosures** The FASO issued ASU 2023-07 on November 27, 2023, which is intended to improve reporta ble segment disclosure requirements. Under previous guida nce, while entities were required to disclose {10}------------------------------------------------ ### **NOTE 5 - RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS (CONTINUED)** ## **FASB ASU 2023-07, Segment Reporting (Topic280): Improvements to Reportable Segment Disclosures Continued)** segment revenue and measure profit or loss, there has been limited disclosure around the reporting of segment expenses. In addition to enha nced disclosures about significa nt segment expenses, the amendments enha nce interim disclosure requirements, clarify circumsta nces in which an entity ca n disclose multiple segment measures of profit or loss, provide new segment disclosure requirements for entities with a single reportable segment, and conta in other disclosure requirements. The purpose of the amendments is to enable investors to better understa nd an entity's overa ll performance and assess potentia l future cash flows. ASU 2023-07 is effective for fisca l years beginning after December 15, 2023, and interim periods within fisca l years beginning after December 15, 2024. The Company has adopted the requirements of the expa nded segment disclosu res as of March 31, 2024. #### **Segment Reporting** The Company is engaged in a single line of business as a secu rities broker-dea ler, which is comprised of private placement of securities and advisory services to private entities concerning secu rities offerings a nd private ca pita l raising activities including but not limited to, identifying, qual ifying and sol iciting institutional and certain other investors of such activities. The Company has identified its CEO as the chief decision maker ("CODM"), who uses net income to eva luate the results of the business, predominantly in the forecasting process, to ma nage the Compa ny. Additional ly, the CODM uses excess net ca pita l (see Note 3), which is not a measure of profit and loss, to ma ke operational decisions while ma intaining ca pita l adequacy, such as whether to reinvest profits or pay dividends. The Compa ny's operations constitute a single operating segment and therefore, a single reporta ble segment beca use the CODM manages the business activities, using the Company as a whole. The accounting pol icies used to measure the profit and loss of the segment a re the same as those described in the summary of significa nt accounting pol icies. The Compa ny derived 100% if its tota l revenue from one customer during the period April 1, 2024 to March 31, 2025. ### **NOTE 6 - COMMITMENTS AND CONTINGENCIES:** At March 31, 2025, the Company did not have a ny commitments, contingencies or guara ntees that might result in a loss or futu re obligation that would have required the Company to include such liabil ity/obligation in its 2025 Annual Report. {11}------------------------------------------------ #### **NOTE 7 - RELATED PARTY TRANSACTIONS** At March 3 1, 2025, the Company had a receiva ble of \$249 due from an entity that is owned by the Compa ny's CEO. The Company paid the IRS EIN registration fee on behalf of the entity. During the period ending March 31, 2025, the Compa ny's fidel ity bond in the amount of \$764 was paid by an entity owned by the Compa ny's CEO. ### **NOTE 8- SUBSEQUENT EVENTS** The Company has eva luated events su bseq uent to the Statement of Fina ncia l Condition date for items req uiring recording or disclosure in the fina ncia l statements. The eva luation was performed through the date the financia l statements were issued. Based upon this review, the Company has determined that there were no events which took place that would have a material impact on its fina ncial statements. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.