DSI REALTY INCOME FUND VI
(A California Real Estate Limited Partnership)
BALANCE SHEETS(UNAUDITED), March 31, 1996 AND DECEMBER 31, 1995
March 31, December 31,
1996 1995
ASSETS
CASH AND CASH EQUIVALENTS $ 546,094 $ 506,933
PROPERTY 4,636,175 4,739,872
OTHER ASSETS 100,669 38,342
TOTAL $5,282,938 $5,285,147
LIABILITIES AND PARTNERS' EQUITY
LIABILITIES $377,697 $364,137
PARTNERS' EQUITY:
General Partners (44,232) (44,075)
Limited Partners 4,949,473 4,965,085
Total partners' equity 4,905,241 4,921,010
TOTAL $5,282,938 $5,285,147
See accompanying notes to financial statements (unaudited).
STATEMENTS OF INCOME (UNAUDITED)
FOR THE THREE MONTHS ENDED March 31, 1996 AND 1995
March 31, March 31,
1996 1995
REVENUES:
Rental Income $622,224 $612,382
Interest 2,824 2,207
Total revenue 625,048 614,589
EXPENSES:
Operating Expenses 295,109 272,512
General and administrative 75,788 73,777
Total expenses 370,897 346,289
NET INCOME $254,151 $268,300
AGGREGATE NET INCOME ALLOCATED TO :
Limited partners $251,609 $265,617
General partners 2,542 2,683
TOTAL $254,151 $268,300
NET INCOME PER
LIMITED PARTNERSHIP UNIT $10.59 $11.18
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 THREE MONTHS ENDED March 31, 1996 AND 1995
GENERAL LIMITED
PARTNERS PARTNERS TOTAL
EQUITY AT DECEMBER 31, 1994 ($41,352) $5,234,694 $5,193,342
NET INCOME 2,683 265,617 268,300
DISTRIBUTIONS (2,699) (267,221) (269,920)
EQUITY AT MARCH 31, 1995 ($41,368) $5,233,090 $5,191,722
EQUITY AT DECEMBER 31, 1995 ($44,075) $4,965,085 $4,921,010
NET INCOME 2,542 251,609 254,151
DISTRIBUTIONS (2,699) (267,221) (269,920)
EQUITY AT MARCH 31, 1996 ($44,232) $4,949,473 $4,905,241
See accompanying notes to financial statements(unaudited).
STATEMENTS OF CASH FLOWS (UNAUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 1996 AND 1995
March 31, March 31,
1996 1995
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net income $ 254,151 $ 268,300
Adjustments to reconcile net
income to net cash provided
by operating activities:
Depreciation 103,697 103,698
Changes in assets and liabilities:
Increase in other assets (62,327) (29,921)
Increase in liabilities 13,560 44,506
Net cash provided by operating
activities 309,081 386,583
CASH FLOWS FROM FINANCING ACTIVITIES -
Distributions to partners (269,920) (269,920)
NET INCREASE IN CASH AND
CASH EQUIVALENTS 39,161 116,663
CASH AND CASH EQUIVALENTS:
At beginning of period 506,933 407,250
At end of period $ 546,094 $ 523,913
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 March 31, 1996, and for
the periods ended March 31, 1996 and 1995, 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 March 31, 1996, is as follows:
Land $ 1,759,000
Buildings 8,364,514
Furniture and Equipment 35,185
Total 10,158,699
Less: Accumulated Depreciation ( 5,522,524)
Property - Net $ 4,636,175
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.