DSI REALTY INCOME FUND VI
(A California Real Estate Limited Partnership)
BALANCE SHEETS(UNAUDITED), June 30, 1996 AND DECEMBER 31, 1995
June 30, December 31,
1996 1995
ASSETS
CASH AND CASH EQUIVALENTS $ 621,526 $ 506,933
PROPERTY 4,532,477 4,739,872
OTHER ASSETS 119,192 38,342
TOTAL $5,273,195 $5,285,147
LIABILITIES AND PARTNERS' EQUITY
LIABILITIES $366,776 $364,137
PARTNERS' EQUITY:
General Partners (44,221) (44,075)
Limited Partners 4,950,640 4,965,085
Total partners' equity 4,906,419 4,921,010
TOTAL $5,273,195 $5,285,147
See accompanying notes to financial statements (unaudited).
STATEMENTS OF INCOME (UNAUDITED)
FOR THE THREE MONTHS ENDED June 30, 1996 AND 1995
June 30, June 30,
1996 1995
REVENUES:
Rental Income $621,173 $616,133
Interest 4,876 3,689
Total revenue 626,049 619,822
EXPENSES:
Operating Expenses 307,844 314,744
General and administrative 47,106 46,234
Total expenses 354,950 360,978
NET INCOME $271,099 $258,844
AGGREGATE NET INCOME ALLOCATED TO:
Limited partners $268,388 $256,256
General partners 2,711 2,588
TOTAL $271,099 $258,844
NET INCOME PER
LIMITED PARTNERSHIP UNIT $11.30 $10.79
LIMITED PARTNERSHIP
UNITS USED IN PER
UNIT CALCULATION 23,753 23,753
See accompanying notes to financial statements(unaudited).
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STATEMENTS OF INCOME (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 1996 AND 1995
June 30, June 30,
1996 1995
REVENUES:
Rental Income $1,243,397 $1,228,515
Interest 7,700 5,896
Total Revenues 1,251,097 1,234,411
EXPENSES:
Operating Expenses 602,953 587,256
General and administrative 122,894 120,011
Total expenses 725,847 707,267
NET INCOME 525,250 527,144
AGGREGATE NET INCOME ALLOCATED TO:
Limited Partners 519,998 521,873
General Partners 5,252 5,271
TOTAL 525,250 527,144
NET INCOME PER LIMITED
PARTNERSHIP UNIT 21.89 21.97
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 SIX MONTHS ENDED June 30, 1996 AND 1995
GENERAL LIMITED
PARTNERS PARTNERS TOTAL
EQUITY AT DECEMBER 31, 1994 ($41,352) $5,234,694 $5,193,342
NET INCOME 5,271 521,873 527,144
DISTRIBUTIONS (5,398) (534,442) (539,840)
EQUITY AT JUNE 30, 1995 ($41,479) $5,222,125 $5,180,646
EQUITY AT DECEMBER 31, 1995 ($44,075) $4,965,085 $4,921,010
NET INCOME 5,252 519,998 525,250
DISTRIBUTIONS (5,398) (534,443) (539,841)
EQUITY AT JUNE 30, 1996 ($44,220) $4,950,640 $4,906,419
See accompanying notes to financial statements(unaudited).
STATEMENTS OF CASH FLOWS (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 1996 AND 1995
June 30, June 30,
1996 1995
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net income $ 525,250 $ 527,144
Adjustments to reconcile net
income to net cash provided
by operating activities:
Depreciation 207,396 207,396
Changes in assets and liabilities:
Increase in other assets (80,850) (42,050)
Increase in liabilities 2,638 23,647
Net cash provided by operating
activities 654,434 716,137
CASH FLOWS FROM INVESTING ACTIVITIES -
Purchase of property & equipment (5,227)
CASH FLOWS FROM FINANCING ACTIVITIES -
Distributions to partners (539,841) (539,840)
NET INCREASE IN CASH AND
CASH EQUIVALENTS 114,593 171,070
CASH AND CASH EQUIVALENTS:
At beginning of period 506,933 407,250
At end of period $ 621,526 $ 578,320
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 June 30, 1996, and for
the periods ended June 30, 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 June 30, 1996, is as follows:
Land $ 1,759,000
Buildings 8,364,514
Furniture and Equipment 35,185
Total 10,158,699
Less: Accumulated Depreciation ( 5,626,222)
Property - Net $ 4,532,477
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.