DSI REALTY INCOME FUND VI
(A California Real Estate Limited Partnership)
BALANCE SHEETS(UNAUDITED), September 30, 1995 AND DECEMBER 31, 1994
September 30, December 31
1995 1994
ASSETS
CASH AND CASH EQUIVALENTS $ 712,547 $ 407,250
PROPERTY 4,852,695 5,131,402
OTHER ASSETS 53,950 26,960
TOTAL $5,619,192 $5,565,612
LIABILITIES AND PARTNERS' EQUITY
LIABILITIES $412,607 $372,270
PARTNERS' EQUITY:
General Partners (41,219) (41,352)
Limited Partners 5,247,804 5,234,694
Total partners' equity 5,206,585 5,193,342
TOTAL $5,619,192 $5,565,612
See accompanying notes to financial statements(unaudited).
STATEMENTS OF INCOME (UNAUDITED)
FOR THE THREE MONTHS ENDED September 30, 1995 AND 1994
September 30, September 30,
1995 1994
REVENUES:
Rental Income $643,148 $631,594
Interest 4,552 3,294
Total revenue 647,700 634,888
EXPENSES:
Operating Expenses 303,960 280,920
General and administrative 47,881 48,762
Total expenses 351,841 329,682
NET INCOME $295,859 $305,206
AGGREGATE NET INCOME ALLOCATED TO :
Limited partners $292,900 $302,154
General partners 2,959 3,052
TOTAL $295,859 $305,206
NET INCOME PER
LIMITED PARTNERSHIP UNIT $12.33 $12.72
LIMITED PARTNERSHIP
UNITS USED IN PER
UNIT CALCULATION 23,753 23,753
See accompanying notes to financial statements(unaudited).
STATEMENTS OF INCOME (UNAUDITED)
FOR THE NINE MONTHS ENDED September 30, 1995 AND 1994
September 30, September 30,
1995 1994
REVENUES:
Rental Income $1,871,663 $1,801,113
Interest 10,448 5,313
Total Revenues 1,882,111 1,806,426
EXPENSES:
Operating Expenses 891,216 832,544
General and Administrative 167,892 166,627
Total Expenses 1,059,108 999,171
NET INCOME $ 823,003 $ 807,255
AGGREGATE NET INCOME ALLOCATED TO:
Limited partners $ 814,773 $ 799,182
General partners 8,230 8,073
TOTAL $ 823,003 $ 807,255
NET INCOME PER LIMTED PARTNERSHIP
UNIT $34.30 $33.65
LIMITED PARTNERSHIP UNITS USED IN
PER UNIT CALCULATION 23,753 23,753
See accompanying notes to financial statements (unaudited)
STATEMENTS OF CHANGES IN PARTNERS' EQUITY (UNAUDITED)
FOR THE NINE MONTHS ENDED September 30, 1995 AND 1994
GENERAL LIMITED
PARTNERS PARTNERS TOTAL
EQUITY AT DECEMBER 31, 1993 ($38,367) $5,530,231 $5,491,864
NET INCOME 8,073 799,182 807,255
DISTRIBUTIONS (7,498) (742,281) (749,779)
"EQUITY AT SEPTEMBER 30, 1994 ($37,792) $5,587,132 $5,549,340
"EQUITY AT DECEMBER 31, 1994 ($41,352) $5,234,694 $5,193,342
NET INCOME 8,230 814,773 823,003
DISTRIBUTIONS (8,097) (801,663) (809,760)
EQUITY AT SEPTEMBER 30, 1995 ($41,219) $5,247,804 $5,206,585
See accompanying notes to financial statements(unaudited).
STATEMENTS OF CASH FLOWS (UNAUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1995 AND 1994
September 30, September 30,
1995 1994
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net income $ 823,003 $ 807,255
Adjustments to reconcile net
income to net cash provided
by operating activities:
Depreciation 311,094 311,094
Changes in assets and liabilities:
Decrease(Increase) in other assets (26,990) (28,702)
Increase in liabilities 40,337 57,893
Net cash provided by operating
activities 1,147,444 1,147,540
CASH FLOWS FROM INVESTING ACTIVITIES-
Purchase of property and equipment (32,387) (27,159)
CASH FLOWS FROM FINANCING ACTIVITIES -
Distributions to partners (809,760) (749,779)
NET INCREASE IN CASH AND
CASH EQUIVALENTS 305,297 370,602
CASH AND CASH EQUIVALENTS:
At beginning of period 407,250 293,874
At end of period $ 712,547 $ 667,476
See accompanying notes to financial statements(unaudited).
DSI REALTY INCOME FUND VI
(A California Real Estate Limited Partnership)
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)
1. GENERAL
DSI Realty Income Fund VI (the "Partnership"), a limited partnership,
has two general partners (DSI Properties, Inc., and Diversified Investors
Agency) and limited partners owning 23,753 limited partnership units.
The Partnership was formed under the California Uniform Limited Partnership
Act for the primary purpose of acquiring and operating real estate.
The accompanying financial information as of September 30, 1995, and for
the periods ended September 30, 1995 and 1994, is unaudited. Such financial
information includes all adjustments which are considered necessary by the
Partnership's management for a fair presentation of the results for the
periods indicated.
2. PROPERTY
Properties owned by the Partnership are all mini-storage facilities.
Depreciation is calculated using the straight line method over the estimated
useful life of 20 years. The total cost of property and accumulated
depreciation at September 30, 1995, is as follows:
Land $ 1,759,000
Buildings 8,352,509
Furniture and Equipment 36,612
Total 10,148,121
Less: Accumulated Depreciation ( 5,295,426)
Property - Net $ 4,852,695
3. NET INCOME PER LIMITED PARTNERSHIP UNIT
Net income per limited partnership unit is calculated by dividing the
net income allocated to the limited partners by the number of limited
partnership units outstanding during the period.