EX-20 3 0003.txt DSI REALTY INCOME FUND VI (A California Real Estate Limited Partnership) BALANCE SHEETS(UNAUDITED), SEPTEMBER 30, 2000 AND DECEMBER 31, 1999
September 30, December 31, 2000 1999 ASSETS CASH AND CASH EQUIVALENTS $1,116,003 $ 559,869 PROPERTY, Net 2,890,629 3,176,287 OTHER ASSETS 60,381 60,379 TOTAL $4,067,013 $3,796,535 LIABILITIES AND PARTNERS' EQUITY (DEFICIT) LIABILITIES $441,200 $367,509 PARTNERS' EQUITY (DEFICIT): General Partners (57,028) (58,996) Limited Partners 3,682,841 3,488,022 Total partners' equity 3,625,813 3,429,026 TOTAL $4,067,013 $3,796,535 See accompanying notes to financial statements (unaudited).
STATEMENTS OF INCOME (UNAUDITED) FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
September 30, September 30, 2000 1999 REVENUES: Rental Income $803,919 $741,280 Interest 3,102 2,377 Total revenue 807,021 743,657 EXPENSES: Operating 386,830 361,922 General and administrative 55,402 54,819 Total expenses 442,232 416,741 NET INCOME $364,789 $326,916 AGGREGATE NET INCOME ALLOCATED TO: Limited partners $361,141 $323,647 General partners 3,648 3,269 TOTAL $364,789 $326,916 NET INCOME PER LIMITED PARTNERSHIP UNIT $15.20 $13.63 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, 2000 AND 1999
September 30, September 30, 2000 1999 REVENUES: Rental income $2,314,528 $2,146,460 Interest 8,480 7,112 Total revenues 2,323,008 2,153,572 EXPENSES: Operating 1,089,379 1,060,280 General and administrative 227,082 206,709 Total expenses 1,316,461 1,266,989 NET INCOME 1,006,547 886,583 AGGREGATE NET INCOME ALLOCATED TO: Limited Partners 996,482 877,717 General Partners 10,065 8,866 TOTAL 1,006,547 886,583 NET INCOME PER LIMITED PARTNERSHIP UNIT $ 41.95 $ 36.95 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, 2000 AND 1999
GENERAL LIMITED PARTNERS PARTNERS TOTAL BALANCE AT JANUARY 1, 1999 ($55,794) $3,805,019 $3,749,225 NET INCOME 8,866 877,717 886,583 DISTRIBUTIONS (8,097) (801,663) (809,760) BALANCE AT SEPTEMBER 30, 1999 ($55,025) $3,881,073 $3,826,048 BALANCE AT JANUARY 1, 2000 ($58,996) $3,488,022 $3,429,026 NET INCOME 10,065 996,482 1,006,547 DISTRIBUTIONS (8,097) (801,663) (809,760) BALANCE AT SEPTEMBER 30, 2000 ($57,028) $3,682,841 $3,625,813 See accompanying notes to financial statements (unaudited).
STATEMENTS OF CASH FLOWS (UNAUDITED) FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
September 30, September 30, 2000 1999 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $1,006,547 $ 886,583 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 314,415 314,415 Changes in assets and liabilities: Increase in other assets (2) (1,704) (Increase)decrease in liabilities 73,691 (8,079) Net cash provided by operating activities 1,394,651 1,191,215 CASH FLOWS FROM INVESTING ACTIVITIES - Additions to property (28,757) (19,303) CASH FLOWS FROM FINANCING ACTIVITIES - Distributions to partners (809,760) (809,760) NET INCREASE IN CASH AND CASH EQUIVALENTS 556,134 362,152 CASH AND CASH EQUIVALENTS: At beginning of period 559,869 546,110 At end of period $1,116,003 $ 908,262 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, 2000, and for the periods ended September 30, 2000 and 1999, 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, 2000, is as follows: Land $ 1,759,000 Buildings 8,518,313 Furniture and Equipment 38,710 Total 10,316,023 Less: Accumulated Depreciation ( 7,425,394) Property - Net $ 2,890,629
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.