# SCRED SECURITIES US LLC X-17A-5 (2026-03-20) — Broker-dealer annual report - Company: SCRED SECURITIES US LLC - Form: X-17A-5 - Filed: 2026-03-20 - Period: 2025-12-31 - Accession: 0002033479-26-000002 - CIK: 2033479 - File #: 8-71275 - Type: Broker-dealer - Material weakness: No - Auditor: Baker Tilly US, LLP - Auditor location: Miami, FL - Contact: John Schraff - Phone: 44-7818012283 - Email: jschraff@scredus.com - Website: scredus.com - Signed by: John Schraff (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/2033479/000203347926000002/Scredpubic2025.pdf --- {0}------------------------------------------------ # **SCRED Securities US LLC** **Statement of Financial Condition Pursuant to Rule 17a-5 of the Securities and Exchange Commission** **With Report of Independent Registered Public Accounting Firm** **As of December 31, 2025** {1}------------------------------------------------ | 8-71275 | | |---------|--| | | 05/13/2025 | 12/31/2025 | |------------------|------------------|------------| | | | | | | | | | SCRED | SECURITIES
US | LLC | | | | | | ■ | | | | | | | | 1012
MARYLAND | AVE | | | CAPE
MAY | NJ | 08204 | | | | |--------------------------------------------------------|---------------------------|----------------------|-------|--|--| | | | | | | | | | | | | | | | JOHN
SCHRAFF | 44-7818012283 | JSCHRAFF@SCREDUS.COM | | | | | | | | | | | | | | | | | | | BAKER
TILLY
US,
200
S
BISCAYNE
BLVD, | LLP
MIAMI
7TH
FL | FL | 33131 | | | | | | | | | | | 10/22/2003 | | 23 | | | | | | | | | | | | | | | | | | | | | | | | | {2}------------------------------------------------ | JOHN SCHRAFF | | | |--------------|-------------------------|--| | | SCRED SECURITIES US LLC | | DECEMBER 31 025 CEO - - - - - - - - - - - - - - - - - - - - - - - - - - - {3}------------------------------------------------ | | Page(s) | |----------------------------------------------------------|---------| | Report of Independent Registered Public Accounting Firm1 | | | Financial Statement | | | Statement of Financial Condition 2 | | | Notes to the Statement of Financial Condition3–6 | | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) # *Report of Independent Registered Public Accounting Firm* To the member and those charged with governance of SCRED Securities US LLC ### *Opinion on the Financial Statement* We have audited the accompanying statement of financial condition of SCRED Securities US 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 the Company as of December 31, 2025, in conformity with accounting principles generally accepted in the United States of America. # *Basis for Opinion* The 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 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 isfree 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 2026. Miami, Florida March 20, 2026 Baker Tilly Advisory Group, LP and Baker Tilly US, LLP, trading as Baker Tilly, are members of the global network of Baker Tilly International Ltd., the members of which are separate and independent legal entities. Baker Tilly US, LLP is a licensed CPA firm that provides assurance services to its clients. Baker Tilly Advisory Group, LP and its subsidiary entities provide tax and consulting services to their clients and are not licensed CPA firms. {5}------------------------------------------------ | Assets | | |-----------------------------------------------------------------------------------------------|------------------------| | Cash | \$
123,101 | | Due from affiliate, net | 188,258 | | Prepaid expenses | 3,103 | | Total assets | \$
314,462 | | Liabilities and member's equity
Accounts payable and accrued expenses
Total liabilities | \$
29,221
29,221 | | Member's equity | 285,241 | | Total liabilities and member's equity | \$
314,462 | The accompanying notes are an integral part of this financial statement. {6}------------------------------------------------ # **1. Organization and Description of Business** SCRED Securities US LLC (the "Company") was formed in the state of Delaware on July 15, 2024. On May 13, 2025, the Company received the Financial Industry Regulatory Authority ("FINRA") registration approval letter. The Company is registered as a securities broker-dealer with the Securities and Exchange Commission ("SEC") and is a member of FINRA. The Company is a wholly owned subsidiary of Mayfair Pointe Financial LLC (the "Parent"). The Company's primary business activity is the private placement of securities and providing services to the Parent (Note 2). The Company is relying on Footnote 74 of the SEC Release No. 34-70073 as it does not and will not hold customer funds or securities and has not been subject to the reserve computation for possession or control provisions of Rule 15c3-3 of the Securities Exchange Act of 1934. # **2. Summary of Significant Accounting Policies** ### **Government and Other Regulation** The Company's business is subject to significant regulation by various governmental agencies and self-regulatory organizations such as the SEC and FINRA, among others. Such regulation includes, among other things, periodic examinations by these regulatory bodies to determine whether the Company is conducting and reporting its operations in accordance with the applicable requirements of these organizations. # **Basis of Presentation** The Company's financial statement has been prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP"). # **Parent Support** Management continually evaluates the Company's ability to continue as a going concern for the foreseeable future. During the period from May 13, 2025 (commencement of operations as a broker dealer) through December 31, 2025 ("period ended December 31, 2025"), the Company generated net income of approximately \$25,000 and was able to pay its obligations as they came due. During this period, the Company was able to meet its obligations from cash generated from service revenues (Notes 3 and 6) and contributions received from the Parent. The Company's Parent has provided a letter of unconditional financial support to the Company, should it be required, to support the Company's operations, meet (or exceed) its regulatory capital requirements and allow it to continue to pay its obligations as they come due through April 30, 2027, at a minimum. Management believes the Parent has sufficient resources to provide this continued unconditional financial support for this time period. Accordingly, management believes the Company will continue as a going concern for a minimum period of 12 months from the date this financial statement was issued. # **Cash** The Company considers all highly liquid debt instruments having maturities of three months or less at the date of acquisition to be cash equivalents. The Company may, during the ordinary course of {7}------------------------------------------------ business, maintain account balances in excess of federally insured limits. The Company does not expect any risk of loss relating to these deposits. At December 31, 2025, the Company did not hold any cash equivalents. # **Use of Estimates** The preparation of the financial statement in conformity with US 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 statement. Actual results could vary from the estimates that were used. # **Credit Losses** Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 326-20, Financial Instruments – Credit losses requires the immediate recognition of management's estimates of current expected credit losses. The Company has evaluated the impact of ASC 326-20, specifically as it relates to due from affiliate, net. The Company's net receivable from affiliate is typically received in the month following services provided. All of these receivables were paid in full as of the date this financial statement was issued. The Company continually reviews the credit quality of its counterparties. No allowance for credit losses on any receivables was deemed necessary by management as of December 31, 2025. # **Revenue Recognition** The Company has adopted FASB ASC Topic 606, Revenue from Contracts with Customers ("ASC Topic 606"). The revenue recognition guidance requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be 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, (d) allocate the transaction price to the performance obligations in the contract, and (e) recognize revenue when (or as) the entity satisfies a performance obligation. The adoption of this standard had no effect on the Company's financial statement. The Company's principal source of revenue is derived from private placements and service fees. - Private placement fees 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 canceled. Retainers and other fees received from customers prior to recognizing revenue are reflected as deferred revenue. - Service fees are recognized over time based upon the Broker-Dealer Services Agreement between the Company and the Parent. As per the terms of this agreement, the Parent compensates the Company a service fee equal to the Company's monthly running cost base plus a margin of 10% (Note 3) During the period ended December 31, 2025, the Company only generated service fees from the Parent (Note 3). The accompanying notes are an integral part of this financial statement. {8}------------------------------------------------ # **Income Taxes** The Company is a single member limited liability company, and is treated as a disregarded entity for federal income tax reporting purposes. The Internal Revenue Code ("IRC") provides that any income or loss is passed through to the Parent for federal, state and/or certain local income taxes. Accordingly, the Company has not provided for income taxes. At December 31, 2025, management determined that the Company had no uncertain tax positions that would require financial statement recognition. This determination will always be subject to ongoing reevaluation as facts and circumstances may require. The Company's policy is to recognize interest and penalties related to income tax matters as a component of the income tax provision. There are no examinations presently pending. ### **Segment Reporting** The Company is engaged in a single line of business as a securities broker-dealer, which is comprised of several classes of services, including placement fees and service fees. The Company has identified its Chief Executive Officer as the chief operating decision maker ("CODM"), who uses net income to evaluate the results of the business and manage the Company. Additionally, the CODM uses excess net capital (see Note 4), which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy, such as whether to reinvest profits or pay dividends, and manage the Company. 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 accounting policies used to measure the profit and loss of the segment are the same as those described in the summary of significant accounting policies. ### **3. Related Party Agreements** The Company operates pursuant to an administrative services agreement with the Parent ("Expense Sharing Agreement"). The Company recorded compensation, travel, technology and data and general and administrative expenses for the period ended December 31, 2025 based on the terms and conditions stipulated in this agreement (Note 6). The Company also has a Broker-Dealer Services agreement with the Parent. As per the terms of this agreement, the Parent compensates the Company a service fee equal to the Company's monthly running cost base plus a margin of 10%. On a periodic basis, the Parent reimburses the Company for this service fee net of any expenses payable under the Expense Sharing Agreement (Note 6). As of December 31, 2025, the Company has \$83,592 payable to the Parent and \$271,850 due from the Parent. These balances have a right of offset agreement with the Parent and accordingly are presented net in the statement of financial condition as of December 31, 2025. Amounts due from and payable to the Parent are noninterest bearing and payable on demand. # **4. Net Capital Requirements** The Company, as a member of FINRA, is subject to the Securities and Exchange Commission Uniform Net Capital Rule 15c3-1. This Rule requires the maintenance of minimum net capital and that the ratio of aggregate indebtedness as defined to net capital, shall not exceed 8 to 1 in the first twelve months of operations. 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. At December 31, 2025, the The accompanying notes are an integral part of this financial statement. {9}------------------------------------------------ Company's net capital was \$93,880, which was \$88,880 in excess of its computed minimum net capital requirement of \$5,000. The ratio of "Aggregate Indebtedness" to "Net Capital" was .31 to 1 as of December 31, 2025. # **5. Risk Concentrations** # **Cash Accounts** The Company maintains its cash balances in one financial institution. These balances are insured by the Federal Deposit Insurance Corporation for up to \$250,000 per institution. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company's financial condition, results of operations and cash flows. The Company does not expect any risk of loss relating to these deposits. # **Customer Concentration – Related Party** All of the Company's net receivables as of year-end were owed by the Parent. All of such amounts were either collected and/or settled in full subsequent to year end (Note 3) # **6. Subsequent Events** Management has evaluated subsequent events for recognition or disclosure in the Company's financial statement for all transactions that occurred from January 1, 2026 through March 20, 2026, the date this financial statement was issued. Effective January 1, 2026, the Broker-Dealer Services agreement with the Parent was terminated and the Expense Sharing Agreement was amended to reduce the Company's allocated percentage share of shared costs that are borne by the Parent. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.