Economic Report on Scottish Agriculture: 2008 Edition

Table B6 Average opening and closing balance sheets by tenure and type of farm 2006-07: all tenures

Type of farm	LFA: Specialist sheep		LFA: Specialist beef		LFA: Cattle and sheep		Lowground cattle and sheep
Number of farms in sample	40		118		59		11
	Valuation		Valuation		Valuation		Valuation
	Opening	Closing	Opening	Closing	Opening	Closing	Opening	Closing
Assets	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm
Land and buildings etc ⁽¹⁾	148,947	163,748	270,058	286,885	264,170	284,304	270,480	271,264
Other fixed assets ⁽²⁾	48,456	52,044	100,129	106,514	104,564	111,775	92,594	101,971
Current assets ⁽³⁾	55,722	52,850	171,937	176,447	149,443	144,552	169,861	181,790
Total assets	249,262	268,642	542,236	569,845	516,628	540,632	534,469	555,025
Liabilities
Bank loans	1,056	1,745	13,444	15,883	25,212	25,374	21,705	19,298
Other long and medium term loans ⁽⁴⁾	5,219	5,778	6,725	5,426	10,003	9,655	74,335	73,346
Bank overdraft	9,676	8,495	28,295	26,753	41,188	46,169	24,028	15,241
Other short term loans ⁽⁵⁾	7,737	9,711	13,177	14,794	16,199	15,868	30,777	15,364
Total external liabilities	23,688	25,730	61,640	62,856	92,603	97,066	150,845	123,250
(of which total bank borrowing)	(10,732)	(10,240)	(41,739)	(42,636)	(66,400)	(71,543)	(45,733)	(34,539)
Net worth	225,574	242,913	480,596	506,989	424,025	443,566	383,624	431,775
Total external liabilities as a percentage of total assets	10	10	11	11	18	18	28	22

Type of farm	Cereals		General cropping		Dairy		Mixed
Number of farms in sample	54		40		62		61
	Valuation		Valuation		Valuation		Valuation
	Opening	Closing	Opening	Closing	Opening	Closing	Opening	Closing
Assets	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm
Land and buildings etc ⁽¹⁾	604,654	652,998	621,081	634,252	408,046	433,218	463,929	475,428
Other fixed assets ⁽²⁾	69,707	72,322	85,731	86,694	116,191	129,316	96,016	98,046
Current assets ⁽³⁾	185,858	203,350	167,306	172,291	214,583	221,737	222,662	227,539
Total assets	861,703	928,671	877,284	893,237	743,056	784,271	781,962	801,013
Liabilities
Bank loans	13,788	11,733	15,267	20,670	32,509	35,487	13,422	12,435
Other long and medium term loans ⁽⁴⁾	9,736	21,108	20,556	16,564	19,567	20,648	14,370	13,697
Bank overdraft	40,573	38,249	53,200	48,735	41,571	43,225	47,427	50,359
Other short term loans ⁽⁵⁾	19,795	21,155	20,580	18,578	24,034	25,917	19,012	21,755
Total external liabilities	83,892	92,245	109,603	104,547	117,681	125,276	94,231	98,246
(of which total bank borrowing)	(54,361)	(49,982)	(68,467)	(69,405)	(74,080)	(78,711)	(60,849)	(62,794)
Net worth	777,811	836,425	767,681	788,690	625,375	658,995	687,731	702,767
Total external liabilities as a percentage of total assets	10	10	12	12	16	16	12	12

(1) Land and buildings, improvements and fixed equipment.
(2) Machinery, equipment and vehicles, and breeding livestock.
(3) Physical working assets such as trading livestock, harvested and growing crops, purchased stores and liquid assets such as sundry debtors.
(4) Loans by the Scottish Agricultural Securities Corporation, insurance companies and building societies and also family loans.
(5) Outstanding capital debt for machinery and equipment being acquired under hire purchase or finance leasing arrangements, and also sundry creditors and receipts in advance.

Page updated: Thursday, May 22, 2008

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