FORM 10-QSB.--QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Quarterly or Transitional Report
(As last amended by 34-32231, eff. 6/3/93.)
U.S. Securities and Exchange Commission
Washington, D.C. 20549
Form 10-QSB
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 1995
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period.........to.........
Commission file number 33-2369
JACQUES-MILLER BALANCED FUND LIMITED PARTNERSHIP
(Exact name of small business issuer as specified in its charter)
Delaware 62-1258751
(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification No.)
1834 Madison Street
Clarksville, Tennessee 37043
(Address of principal executive offices) (Zip Code)
Issuer's telephone number (615) 648-3301
Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days. Yes X No
PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
a) JACQUES-MILLER BALANCED FUND LIMITED PARTNERSHIP
STATEMENT OF NET ASSETS IN LIQUIDATION
(Unaudited)
September 30, 1995
Assets
None
Liabilities
None
Net Assets in Liquidation None
[FN]
See Accompanying Notes to Financial Statements
b) JACQUES-MILLER BALANCED FUND LIMITED PARTNERSHIP
STATEMENT OF OPERATIONS
(Unaudited)
Nine Months Ended
September 30,
1994
Revenues:
Rental income $537,259
Other income 38,332
Total revenues 575,591
Expenses:
Operating 245,585
General and administrative 25,644
Property management fees 28,222
Maintenance 99,922
Depreciation 122,730
Interest 56,315
Property taxes 48,227
Total expenses 626,645
Net loss $(51,054)
Net loss allocated to general partner $ (511)
Net loss allocated to limited partners (50,543)
$(51,054)
Net loss per limited partnership unit: $ (9.58)
[FN]
See Accompanying Notes to Financial Statements
c) JACQUES-MILLER BALANCED FUND LIMITED PARTNERSHIP
STATEMENT OF CHANGES IN NET ASSETS IN LIQUIDATION
(Unaudited)
Limited
Partnership General Limited
Units Partners Partners Total
Net assets in liquidation at
December 31, 1994 5,273.63 $ 13,449 $ 1,331,410 $ 1,344,859
Interest income -- 229 22,742 22,971
Administrative and
liquidation expenses -- (284) (28,119) (28,403)
Distribution to partners (5,273.63) (13,394) (1,326,033) (1,339,427)
Net assets in liquidation at
September 30, 1995 None $ None $ None $ None
[FN]
See Accompanying Notes to Financial Statements
d) JACQUES-MILLER BALANCED FUND, L.P.
STATEMENT OF CASH FLOWS
(Unaudited)
Nine Months Ended
September 30,
1994
Cash flows from operating activities:
Net loss $(51,054)
Adjustments to reconcile net loss to net
Depreciation 122,730
Amortization of loan costs 4,049
Change in accounts:
Restricted cash (787)
Accounts receivable (2,315)
Escrows for taxes and insurance (66,691)
Accounts payable (22,036)
Tenant security deposit liabilities 787
Other liabilities 44,651
Net cash used in operating activities 29,334
Cash flows from investing activities:
Property improvements and replacements (15,585)
Net cash used in investing activities (15,585)
Cash flows from financing activities:
Payments on mortgage note payable (16,221)
Net cash used in financing activities (16,221)
Net decrease in cash (2,472)
Cash at beginning of period 159,716
Cash at end of period $157,244
Supplemental disclosure of cash flow information:
Cash paid for interest $ 52,265
[FN]
See Accompanying Notes to Financial Statements
JACQUES-MILLER BALANCED FUND, L.P.
NOTES TO FINANCIAL STATEMENTS
(Unaudited)
Note A - Basis of Presentation
On December 30, 1994, the Partnership sold its remaining investment property,
Riverbrook Apartments. The Partnership accordingly changed its basis of
accounting as of December 31, 1994, to a liquidation basis. During the nine
months ended September 30, 1995, the Partnership paid its accrued expenses,
made a final distribution to the partners and liquidated the Partnership.
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION
Results of Operations
The Partnership sold its remaining property, Riverbrook Apartments, on
December 30, 1994. Total consideration was $2,400,000 and the Partnership
recognized a gain on the sale of $805,170. The Partnership has no net assets
in liquidation after the final distribution of $1,339,427 made during the
current year.
The Partnership realized a net change in net assets in liquidation of
$1,344,859 for the nine months ended September 30, 1995. Income consisted only
of interest income and expenses included administrative expenses such as legal
and professional fees incurred in the liquidation process, printing costs and
postage. The distribution to partners represents the return of a portion of
the limited partners' original capital contributions.
SIGNATURES
In accordance with the requirements of the Exchange Act, the Registrant
caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
JACQUES-MILLER BALANCED FUND LIMITED PARTNERSHIP
By: Jacques-Miller, Inc.
Corporate General Partner
By: /s/C. David Griffin
C. David Griffin
President and Chief Operating Officer
Date: November 3, 1995