# BETHEL LANDING SECURITIES LLC X-17A-5 (2024-05-24) — Broker-dealer annual report - Company: BETHEL LANDING SECURITIES LLC - Form: X-17A-5 - Filed: 2024-05-24 - Period: 2024-03-31 - Accession: 0002013816-24-000026 - CIK: 1910349 - File #: 8-70881 - Type: Broker-dealer - Material weakness: No - Auditor: Nawrocki Smith LLP - Auditor location: Hauppauge, NY - Contact: Hasnain Naveed - Phone: 212-668-8700 - Email: hnaveed@acisecure.com - Website: acisecure.com - Signed by: Gil Aikins (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1910349/000201381624000026/bethellandingpublic.pdf --- {0}------------------------------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OMB APPROVAL OMB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 # ANNUAL REPORTS FORM X-17A-5 PART III sec file number 8-70881 FACING PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 AND ENDING\_03/31/2024 filing for the period beginning 05/17/2023 MM/DD/YY MM/DD/YY A. REGISTRANT IDENTIFICATION # NAME OF FIRM: BETHEL LANDING SECURITIES LLC TYPE OF REGISTRANT (check all applicable boxes): ത 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.) # 125 MILE COMMON RD | | | (No. and Street) | | | | |-------------------------------------------------------------------------------------------------|--|--------------------------------------------|-----------------------|-----------------|--| | EASTON | | CT | | 06612 | | | (City) | | (Zip Code)
(State) | | | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | HASNAIN NAVEED | | 212-668-8700 | HNAVEED@ACISECURE.COM | | | | (Name) | | (Area Code - Telephone Number) | | (Email Address) | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
NAWROCKI SMITH LLP | | | | | | | (Name - if individual, state last, first, and middle name) | | | | | | | 100 MOTOR PARKWAY, SUITE 580 HAUPPAUGE | | | NY | 11788 | | | (Address) | | (City) | (State) | (Zip Code) | | | MARCH 4, 2009 | | | 3370 | | | | (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 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)(1)(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 OMB control number. {1}------------------------------------------------ #### OATH OR AFFIRMATION | Gil O Allens | | swear (or affirm) that, to the best of my knowledge and belief, the | | | |-----------------------|---------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|--| | રાજિન | financial report pertaining to the firm of Bethel Landing Securities LLC | as of | | | | | | 2026 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: | | | | | GINGER GILL
NOTARY PUBLIC, STATE OF NEW YORK
Registration No. 01G16172952 | | | | | | Qualified in New York County | Title: | | | | | My Commission Expires 08/20/2027 | CEO | | | | Notary Public | | | | | | | | | | | # This filing \*\* contains (check all applicable boxes): - (a) Statement of financial condition. - (b) Notes to consolidated statement of financial condition. - [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) Statement of cash flows. 1 - [e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - [f] Statement of changes in liabilities subordinated to claims of creditors. - O (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. - [] 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. - [0] Reconcillations, 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 240.18a-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 subsidiated 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. - [0] 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. - [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. - [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, - ට (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-12, as applicable. - [] {y) Report describing any material hadequacies 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). - [z) Other. - · To request confidential treatment of certain portions of this filing, see 17 CFR 240.170-5(e)(3) or 17 CFR 240.180-7(d)(2), as applicable, {2}------------------------------------------------ # BETHEL LANDING SECURITIES LLC Financial Statement With Report of Independent Registered Public Accounting Firm For the Period May 17, 2023 (Commencement of Operations) to March 31, 2024 This report is deemed PUBLIC in accordance with Rule 17a-5(e)(3) under the Securities Exchange Act of 1934. {3}------------------------------------------------ # BETHEL LANDING SECURITIES LLC FOR THE PERIOD MAY 17, 2023 (COMMENCEMENT OF OPERATIONS) TO MARCH 31, 2024 ## Table of Contents Page | Report of Independent Registered Public Accounting Firm | | |---------------------------------------------------------|-------| | Financial Statement: | | | Statement of Financial Condition | വ | | Notes to Financial Statement | 3 - 5 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) # REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Member of Bethel Landing Securities, LLC: # Opinion on the Financial Statement We have audited the accompanying statement of financial condition of Bethel Landing Securities, LLC (the "Company") as of March 31, 2024, 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 Bethel Landing Securities, LLC as of March 31, 2024 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 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 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 statement. We believe that our audit provides a reasonable basis for our opinion. We have served as Bethel Landing Securities, LLC's auditor since 2024. Hauppauge, New York May 23, 2024 Nawrocki Smith IJP {5}------------------------------------------------ # BETHEL LANDING SECURITIES LLC STATEMENT OF FINANCIAL CONDITION AS OF MARCH 31, 2024 | ASSETS:
Cash
Prepaid expenses and other assets | ಳಿ | 39,794
2,940 | |-------------------------------------------------------|----|-----------------| | TOTAL ASSETS | | 42,734 | | LIABILITIES AND MEMBER'S EQUITY | | | | LIABILITIES:
Accounts payable and accrued expenses | ಕೆ | 731 | | TOTAL LIABILITIES | | 731 | | MEMBER'S EQUITY | | 42,003 | | TOTAL LIABILITIES AND MEMBER'S EQUITY | S | 42,734 | See accompanying notes to financial statement {6}------------------------------------------------ # BETHEL LANDING SECURITIES LLC NOTES TO FINANCIAL STATEMENT FOR THE PERIOD MAY 17, 2023 (COMMENCEMENT OF OPERATIONS) TO MARCH 31, 2024 ### NOTE 1- ORGANIZATION AND NATURE OF BUSINESS: Bethel Landing Securities LLC (the "Company") was formed as a limited liability company in Delaware on October 4, 2017. The Company is a registered broker-dealer with the U.S. Securities and Exchange Commission ("SEC") and is a member of both the Financial Industry Regulatory Authority, Inc. ("FINRA") and the Securities Investors Protection ("SIPC"). The Company is a registered Corporate Finance Broker authorized to provide advisory services to private entities concerning securities offerings and private capital raising activities including, but not limited to, identifying, and soliciting institutional and certain other investors for such activities thereby. #### NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: #### Basis of Presentation The accompanying financial statement has been prepared on the accrual basis of accordance with accounting principles generally accepted in the United States of America ("GAAP") as detailed in the Financial Accounting Standards ("FASB") Accounting Standards Codification ("ASC"). #### Use of Estimates The preparation of financial statement and related disclosures in conformity with GAAP requires management 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 financial statement, and the reported amounts of income and expenses during the reporting period. Accordingly, actual results could differ from those estimates and such differences could be material. #### Accounts Receivable The Company carries its accounts receivable at cost less an allowance for doubtful accounts. On a periodic basis, the Company evaluates its accounts receivable and establishes an allowance for doubtful accounts based on history of past write-offs and collections and current credit conditions. An allowance for doubtful accounts was not required at March 31, 2024. There was no bad debt expense for the period ended March 31, 2024. #### Going Concern The accompanying financial statement has been prepared 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 additional financing through direct contributions of capital until positive cash flows are generated. The owner is not contractually obligated to continue to provide support. #### Revenue Recognition #### Advisory and Commissions Income The Company engages in advisory and consulting services from debt and capital raising for business entities. Revenue from ongoing advisory and consulting services is recognized and earned at the performance under the arrangement is completed, which is when a successful closing occurs or upon cancellation of the agreement. Payments for ongoing and consulting services are payable in accordance with the contract under normal trade terms. Success fees are recognized and payable on the closing date (the date on which the buyer purchases the securities from the Company is contracted to earn in accordance with its agreements. The Company believes that the appropriate point in time to recognize success fees for advisory and consulting transactions, as there are which the Company needs to take subsequent to this date. As of March 31, 2024 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. {7}------------------------------------------------ # BETHEL LANDING SECURITIES LLC NOTES TO FINANCIAL STATEMENT FOR THE PERIOD MAY 17, 2023 (COMMENCEMENT OF OPERATIONS) TO MARCH 31, 2024 ## NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED): #### Revenue Recognition (Continued) #### Advisory and Commissions Income (Continued) The Company adheres to the provisions of FASB ASC Topic 606, Revenue from Contracts with Customers ("ASC Topic 606"). ASC Topic 606 requires that an entity recognize revenue to depict the transfer of promised goods or services to an amount that reflects the consideration to which the entitled in exchange for those goods or services. The guidance requires an entity to follow a five step model to (a) identify the contract(s) with a customer. (b) identify the performance obligations in the contract, (c) determine the transaction price to the transaction price to the performance 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 variable consideration only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized would not occur when the uncertainty associated with the variable consideration is resolved. The revenue recognition guidance does not apply to revenue associated with financial instruments, interest income and insurance contracts. #### Receivables and Contract Balances Receivables arise when the Company has an unconditional right to receive payment under a contract with a customer and are derecognized when the cash is received. There are no receivable balances as of May 17, 2023 and March 31, 2024. Contract assets arise when the revenue as recognized prior to the Company's unconditional right to receive payment under a contract with a customer (i.e., unbilled receivable) and are derecognized when either it becomes a receivable or the cash is received. Contract assets are reported in the statement of financial condition. As of March 31, 2024, contract asset balances were \$0. Contract liabilities arise when customers remit contractual cash payments in advance of the Company satisfying its performance obligations under the contract and are derecognized when the contract is recognized when the performance obligation is satisfied. As of May 17, 2023 and March 31, 2024, there were no contract liabilities. #### Significant Judgment 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. ### Income Taxes The Company is a single member limited liability company that is deemed to be a disregarded entity for income tax purposs. The taxable income or loss of the Company is allocated to its member. The Company has no tax sharing arrangement and accordingly has no commitment to fund or receive amounts for any tax liabilities or benefits with earnings of the Company. Accordingly, the Company has not provided for federal or state income taxes. At March 31, 2024, management had 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. Interest and penalties assessed, if any, are recorded as income tax expense. {8}------------------------------------------------ # BETHEL LANDING SECURITIES LLC NOTES TO FINANCIAL STATEMENT FOR THE PERIOD MAY 17, 2023 (COMMENCEMENT OF OPERATIONS) TO MARCH 31, 2024 ### NOTE 3 - NET CAPITAL REQUIREMENTS: The Company is subject to the Securities and Exchange Commission Uniform Net Capital Rule (SEC rule 15c3-1), which requires the maintenance of minimum net capital, and requires that the ratio of aggregate indebtedness to net capital, shall not exceed 12.5 to 1, in the first year of membership and 15c3-1 also provides that equity capital may not be withdrawn or cash dividends paid if the resulting net capital ratio would exceed 10 to 1. At March 31, 2024, the Company had net capital of \$39,063 which was \$34,063 in excess of its required net capital of \$5,000. The Company's ratio of aggregate indebtedness to net capital was 0.0187 to 1. #### NOTE 5-CONCENTRATIONS OF CREDIT RISK: #### Cash The Company maintains principally all cash balances in one financial institution which, at times, may exceed the amount insured by the Federal Deposit Insurance Corporation. The Company is solely dependent upon daily bank balances and the strength of the financial institution. The Company has not incurred any losses on this account. At March 31, 2024, the amount in excess of insured limits was \$0. ## NOTE 6 - RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS: The FASB has established the ASC as the authoritative source of GAAP recognized by the FASB. The principles embodied in the Codification are to be applied by nongovernmental entities in the preparation of financial statement in accordance with GAAP in the United States. New accounting pronouncements are incorporated into the issuance of Accounting Standards Updates ("ASUs"). For the period ended March 31, 2024, various ASUs issued by the FASB were either newly issued or had effective implementation dates that would require their provisions to be reflected in the financial statement for the year then ended. The Company has either evaluated or is currently evaluating the implications, if any, of each of these pronouncements and the may have on the Company's financial statement. In most cases, management has the pronouncement has either limited or no application to the Company and, in all cases, implementation would not have a material impact on the as a whole ## NOTE 7 - COMMITMENTS AND CONTINGENCIES: The Company had no commitments or contingent liabilities and had not been named as a defendant in any lawsuit at March 31, 2024, or during the year then ended. #### NOTE 8 - RELATED PARTY TRANSACTIONS For the period ended March 31, 2024, the Owner was fully reimbursed by the expenses paid on behalf of the Company. The reimbursed expenses consist of data services, insurance, office expenses and accounting services totaling \$5,219 for the period. As of March 31, 2024, the amount owed to the Owner was \$0. #### NOTE 9 - SUBSEQUENT EVENTS The Company has evaluated events subsequent to financial Condition date for items requiring recording or disclosure in the financial statement. The evaluation was performed through statement was 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 financial statement. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.