DSI REALTY INCOME FUND X
(A California Real Estate Limited Partnership)
BALANCE SHEETS(UNAUDITED), JUNE 30, 1995 AND DECEMBER 31, 1994
June 30, December 31
1995 1994
ASSETS
CASH AND CASH EQUIVALENTS $ 926,800 $ 590,983
PROPERTY 8,861,226 9,123,547
OTHER ASSETS 61,515 324,827
TOTAL $9,849,541 $10,039,357
LIABILITIES AND PARTNERS' EQUITY
LIABILITIES $1,604,604 $1,568,004
PARTNERS' EQUITY:
General Partners (59,577) (57,314)
Limited Partners 8,304,514 8,528,667
Total partners' equity 8,244,937 8,471,353
TOTAL $9,849,541 $10,039,357
See accompanying notes to financial statements(unaudited).
STATEMENTS OF INCOME (UNAUDITED)
FOR THE THREE MONTHS ENDED JUNE 30, 1995 AND 1994
June 30, June 30,
1995 1994
REVENUES:
Rental Income $622,332 $553,041
Interest 7,528 1,906
Total revenue 629,860 554,947
EXPENSES:
Operating Expenses 354,050 340,881
General and administrative 55,684 40,560
Total expenses 409,734 381,441
NET INCOME $220,126 $173,506
AGGREGATE NET INCOME ALLOCATED TO :
Limited partners $217,925 $171,771
General partners 2,201 1,735
TOTAL $220,126 $173,506
NET INCOME PER
LIMITED PARTNERSHIP UNIT $6.86 $5.40
LIMITED PARTNERSHIP
UNITS USED IN PER
UNIT CALCULATION 31,783 31,783
See accompanying notes to financial statements(unaudited).
STATEMENTS OF INCOME (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 1995 AND 1994
June 30, June 30,
1995 1994
REVENUES:
Rental Income $1,198,268 $1,094,006
Interest 14,155 2,956
Total Revenues 1,212,423 1,096,962
EXPENSES:
Operating Expenses 681,099 670,218
General and Administrative 115,660 94,658
Total Expenses 796,759 764,876
NET INCOME $ 415,664 $ 332,086
AGGREGATE NET INCOME ALLOCATED TO:
Limited partners $ 411,507 $ 328,765
General partners 4,157 3,321
TOTAL $ 415,664 $ 332,086
NET INCOME PER LIMTED PARTNERSHIP
UNIT $12.95 $10.34
LIMITED PARTNERSHIP UNITS USED IN
PER UNIT CALCULATION 31,783 31,783
See accompanying notes to financial statements (unaudited)
STATEMENTS OF CHANGES IN PARTNERS' EQUITY (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 1995 AND 1994
GENERAL LIMITED
PARTNERS PARTNERS TOTAL
EQUITY AT DECEMBER 31, 1993 ($54,311) $8,825,977 $8,771,666
NET INCOME 3,321 328,765 332,086
DISTRIBUTIONS (5,217) (516,473) (521,690)
"EQUITY AT JUNE 30, 1994 ($56,207) $8,638,269 $8,582,062
"EQUITY AT DECEMBER 31, 1994 ($57,314) $8,528,667 $8,471,353
NET INCOME 4,157 411,507 415,664
DISTRIBUTIONS (6,420) (635,660) (642,080)
EQUITY AT JUNE 30, 1995 ($59,577) $8,304,514 $8,244,937
See accompanying notes to financial statements(unaudited).
STATEMENTS OF CASH FLOWS (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 1995 AND 1994
June 30, June 30,
1995 1994
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net income $ 415,664 $ 332,086
Adjustments to reconcile net
income to net cash provided
by operating activities:
Depreciation 269,264 269,264
Changes in assets and liabilities:
Decrease(Increase) in other assets 263,312 (7,251)
Increase in liabilities 36,600 163,016
Net cash provided by operating
activities 984,840 757,115
CASH FLOWS FROM INVESTING ACTIVITIES-
Purchase of property and equipment (6,943)
CASH FLOWS FROM FINANCING ACTIVITIES -
Distributions to partners (642,080) (521,690)
NET INCREASE IN CASH AND
CASH EQUIVALENTS 335,817 235,425
CASH AND CASH EQUIVALENTS:
At beginning of period 590,983 413,041
At end of period $ 926,800 $ 648,466
See accompanying notes to financial statements(unaudited).
DSI REALTY INCOME FUND X
(A California Real Estate Limited Partnership)
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)
1. GENERAL
DSI Realty Income Fund X (the "Partnership") has three general partners
(DSI Properties, Inc., Robert J. Conway and Joseph W. Conway) and
limited partners owning 31,783 limited partnership units.
The accompanying financial information as of June 30, 1995, and for
the periods ended June 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
The Partnership owns five mini-storage facilities. Two facilities are
located in Warren, Michigan; one facility is located in Troy, Michigan;
one facility is located in Crestwood, Illinois; and one facility is
located in Forestville, Maryland. As of June 30, 1995, the total cost
and accumulated depreciation of the mini-storage facilities is as
follows:
Land $ 2,089,882
Buildings 10,596,501
Furniture and Equipment 2,799
Total 12,689,182
Less: Accumulated Depreciation ( 3,827,956)
Property - Net $ 8,861,226
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.