# TRIVE NEW YORK LLC X-17A-5 (2024-09-23) — Broker-dealer annual report - Company: TRIVE NEW YORK LLC - Form: X-17A-5 - Filed: 2024-09-23 - Period: 2024-06-30 - Accession: 0002013816-24-000062 - CIK: 830005 - File #: 8-39420 - Type: Broker-dealer - Material weakness: No - Auditor: Nawrocki Smith, LLP - Auditor location: Hauppauge, NY - Contact: Elizabeth Attanasio - Phone: 212-668-8700 - Signed by: Jose Saa (Chief Compliance Officer) Original filing: https://www.sec.gov/Archives/edgar/data/830005/000201381624000062/trivepublic.pdf --- {0}------------------------------------------------ # ANNUAL REPORTS FORM X-17A-5 | | UNITED STATES | | OMB APPROVAL | | |---------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------|----------------------------------------------------------------------------|--| | SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 | | | OMB Number:
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NUMBER | | | FORM X-17A-5 | | | | | | | PART III | | | | | | 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 _____________________ AND ENDING ______________________ | | | | | | MM/DD/YY | | MM/DD/YY | | | | A.
REGISTRANT IDENTIFICATION | | | | | | NAME OF FIRM: _______________________________________________________________________ | | | | | TYPE OF REGISTRANT (check all applicable boxes):
Broker-dealer
Check here if respondent is also an OTC derivatives dealer | Security-based swap dealer | Major security-based swap participant | | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | | | _____________________________________________________________________________________ | | | | | | (No. and Street) | | | | | | _____________________________________________________________________________________ | | | | | (City) | (State) | | (Zip Code) | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | _____________________________________________________________________________________ | | | | | (Name) | (Area Code – Telephone Number) | (Email Address) | | | | | B.
ACCOUNTANT IDENTIFICATION | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing* | | | | | | | | | | | | _____________________________________________________________________________________
(Name – if individual, state last, first, and middle name) | | | | | | _____________________________________________________________________________________ | | | | | (Address) | (City)
_____________________________________________________________________________________ | (State) | (Zip Code) | | | (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 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)(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}------------------------------------------------ | | swear (or affirm) that, to the best of my knowledge and belief, the
tinancial report pertaining to the firm of Trive New York, LLC
as of | |---|------------------------------------------------------------------------------------------------------------------------------------------------| | | 2 024 , is true and correct. I further swear (or affirm) that neither the company nor any
June 30 | | | 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: | | | | | | itle:
GINGER GILL | | | NOTARY PUBLIC, STATE OF NEW YORK Chief Compliance Officer
Registration No. 01G16172952 | | | Qualified in New York County | | | y Commission Expires 08/20/2027
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 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 (o) Reconciliations, 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 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 report or 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. | | | [x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.17a-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 | | D | a statement that no material inadequacles exist, under 17 CFR 240.17a-12(K).
(z) Other: | {2}------------------------------------------------ # Trive New York, LLC (formerly known as GK Trade New York, LLC) Financial Statements With Report of Independent Registered Public Accounting Firm As of and for the Year Ended June 30, 2024 PUBLIC REPORT {3}------------------------------------------------ # (formerly known as GK Trade New York, LLC) TRIVE NEW YORK, LLC (A LIMITED LIABILITY COMPANY) FOR THE YEAR ENDED JUNE 30, 2024 Table of Contents | | Page | |-----------------------------------------------------------|------| | Report of Independent Registered Public Accounting Firm | 1 | | Financial Statements:
Statement of Financial Condition | 2 | | Notes to Financial Statements | 3-5 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) # **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Member of Trive New York, LLC: # **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of Trive New York, LLC (the "Company") as of June 30, 2024, 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 Trive New York, LLC as of June 30, 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 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 Trive New York, LLC's auditor since 2020. Hauppauge, New York September 19, 2024 {5}------------------------------------------------ # TRIVE NEW YORK, LLC (A LIMITED LIABILITY COMPANY) (formerly known as GK Trade New York, LLC) STATEMENT OF FINANCIAL CONDITION AS OF JUNE 30, 2024 | ASSETS: | | |---------------------------------------|--------------| | Cash | \$
38,872 | | Due from Affiliate | 20,000 | | Prepaid expenses and other assets | 4,978 | | TOTAL ASSETS | \$
63,850 | | | | | LIABILITIES AND MEMBER'S EQUITY | | | LIABILITIES: | | | Accounts payable and accrued expenses | \$
343 | | TOTAL LIABILITIES | 343 | | MEMBER'S EQUITY | 63,507 | | TOTAL LIABILITIES AND MEMBER'S EQUITY | \$
63,850 | See accompanying notes to financial statements 2 {6}------------------------------------------------ # NOTES TO FINANCIAL STATEMENTS TRIVE NEW YORK, LLC (A LIMITED LIABILITY COMPANY) (formerly known as GK Trade New York, LLC) FOR THE YEAR ENDED JUNE 30, 2024 # NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS: Trive New York, LLC (f/k/a GK Trade New York, LLC) (the "Company") was formed as a limited liability company in Delaware on January 4, 2012. The Company is a registered broker-dealer under the Securities Exchange Act of 1934 and is a member of the Financial Industry Regulatory Authority, Inc. ("FINRA"). The Company is authorized by FINRA to be a mutual fund retailer, a broker or dealer selling tax shelters or limited partnerships in primary distributions, to conduct private placements of securities and act as a selling agent of 34 Act Funds. The Company did not conduct any securities business for the year ended June 30, 2024. On May 20, 2022, the Company filed a name change with the State of Delaware from GK Trade New York LLC to Trive New York LLC. As of June 30, 2024 the Company was wholly-owned by the Parent. #### NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: #### Basis of Presentation The Company follows Generally Accepted Accounting Principles ("GAAP"), as established by the Financial Accounting Standards Board (the "FASB"), to ensure consistent reporting of financial condition, results of operation, and cash flows, and uses the accrual basis of accounting. #### 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. #### 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 June 30, 2024. There was no bad debt expense for the year ended June 30, 2024. #### Income Taxes As a limited liability company, the Company is not subject to federal income taxes. The Company's member separately accounts for its share of the Company's items of income, deductions, losses and credits. Therefore these financial statements do not include any provision for federal income taxes. FASB guidance requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Company's tax returns to determine whether the tax positions are "more-likely-than-not" of being sustained "when challenged" or "when examined" by the applicable tax authority. Tax positions not deemed to meet the more-likely-than-not threshold would be recorded as a tax benefit or expense and assets or liability in the current year. For the year ended June 30, 2024 management has determined that there are no material uncertain income tax positions. The Company's tax returns are filed as part of Trive Investment B.V. returns, on a consolidated basis. The current and prior three tax years generally remain subject to examination by U.S. federal and most state tax authorities. {7}------------------------------------------------ # (formerly known as GK Trade New York, LLC) (A LIMITED LIABILITY COMPANY) NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2024 TRIVE NEW YORK, LLC # NOTE 3 - COMMITMENTS The Company has an operating lease for office space not subject to ASC 842, according to the short-term lease exemption. The Company recognizes lease cost associated with this lease on a straight-line basis over the lease term. The Company currently leases office space on a short term basis in New York, NY. The current lease was renewed through October 31, 2024. Rent expense for the year ended June 30, 2024 amounted to \$11,653. # NOTE 4 – NET CAPITAL REQUIREMENTS: The Company is subject to the SEC 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, both as defined, shall not exceed 15 to 1 (and the rule also provides that equity capital may not be withdrawn or cash dividends paid if the resulting net capital ratio would exceed 10 to 1). Under SEC Rule 15c3-1, the Company is required to maintain "net capital" of 6 2/3 percent of "aggregate indebtedness" or \$5,000, whichever is greater, as these terms are defined. At June 30, 2024, the Company had net capital of \$38,529 which was \$33,529 in excess of its required net capital of \$5,000. The Company's ratio of aggregate indebtedness to net capital was 0.89%. Distributions and other equity withdrawals are subject to certain notification and other provisions of the net capital rules of the SEC. # 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 exposure to the Company is solely dependent upon daily bank balances and the respective strength of the financial institutions. The Company has not incurred any losses on this account. At June 30, 2024, the amount in excess of insured limits of \$250,000 was \$0. # NOTE 6 – RELATED PARTY ### Due from Affiliate The Company has several service level agreements in place with it's affiliates, whereby the Company provides U.S. Market Commentaries on a monthly basis. At June 30, 2024, the Company has received \$120,000 of consulting revenue resulting from these agreements. The balance due from the affiliate as of June 30, 2024 was \$20,000. #### Due from Parent The Company has an expense sharing agreement in place with it's Parent, whereby an allocation of fees is made for salaries on behalf of the Parent for an employee. The balance due from the Parent as of June 30, 2024 was \$0. # NOTE 7 – INDEMNIFICATIONS: In the normal course of business, the Company enters into contracts that contain a variety of representations and warranties that provide indemnifications under certain circumstances. The Company's maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Company that have not yet occurred. The Company believes that it is unlikely it will have to make material payments under these arrangements and has not recorded any contingent liability in the financial statements for these indemnifications. {8}------------------------------------------------ # TRIVE NEW YORK, LLC (A LIMITED LIABILITY COMPANY) (formerly known as GK Trade New York, LLC) NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2024 ### NOTE 8 – SUBSEQUENT EVENTS: The Company has evaluated subsequent events through the date which the financial statements were available to be issued. No events were noted which would require recognition or disclosure in the footnotes to the financial statements. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.