Economic Report on Scottish Agriculture 2011 Edition

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Table B6(d) Average opening and closing balance sheets by tenure and type of farm 2009/10: All Tenures

Type of farm

Specialist sheep
( LFA)

Specialist beef
( LFA)

Cattle and sheep
( LFA)

Lowground
Cattle and sheep

Cereals

Number of farms in sample

41

112

60

16

72

Valuation

Valuation

Valuation

Valuation

Valuation

Opening

Closing

Opening

Closing

Opening

Closing

Opening

Closing

Opening

Closing

Assets

£/farm

£/farm

£/farm

£/farm

£/farm

£/farm

£/farm

£/farm

£/farm

£/farm

Land and buildings etc (1)

300,154

333,089

387,396

417,719

389,635

428,036

412,410

462,469

840,078

920,407

Other fixed assets (2)

61,449

70,315

116,250

136,644

134,245

152,803

117,367

132,336

107,663

120,105

Current assets (3)

115,587

100,844

192,485

182,964

177,024

173,761

251,669

249,046

263,365

236,007

Total assets

477,190

504,248

696,131

737,327

700,904

754,599

782,744

843,851

1,211,106

1,276,520

Liabilities

Bank loans

10,035

8,744

20,624

23,211

30,860

41,404

26,062

21,499

16,571

15,945

Other long and medium term loans (4)

12,645

12,473

8,114

7,044

4,509

4,474

31,273

30,264

22,106

23,648

Bank overdraft

17,250

16,889

29,883

28,276

30,519

26,916

22,107

28,309

33,359

41,312

Other short term loans (5)

10,485

11,363

14,083

16,527

20,130

22,966

9,288

50,049

36,278

33,914

Total external liabilities

50,415

49,469

72,705

75,058

86,018

95,761

88,729

130,122

108,314

114,818

(of which total bank borrowing)

(27,285)

(25,633)

(50,507)

(51,487)

(61,379)

(68,321)

(48,168)

(49,808)

(49,930)

(57,256)

Net worth

426,774

454,779

623,426

662,269

614,886

658,838

694,015

713,729

1,102,792

1,161,701

Total external liabilities as a percentage of total assets

11

10

10

10

12

13

11

15

9

9

Type of farm

General cropping

Dairy

Mixed

All farm types

Number of farms in sample

49

50

68

468

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)

1,090,648

1,157,731

676,592

761,971

558,254

593,941

580,611

630,706

Other fixed assets (2)

162,514

181,455

205,022

226,719

124,823

141,071

126,377

143,278

Current assets (3)

295,702

242,655

282,149

277,793

251,221

236,440

222,211

204,770

Total assets

1,548,920

1,581,842

1,163,762

1,266,482

934,298

971,452

929,257

978,754

Liabilities

Bank loans

40,523

60,124

28,512

36,572

10,133

20,839

22,400

28,495

Other long and medium term loans (4)

16,814

16,320

41,558

44,148

8,067

8,330

15,500

15,616

Bank overdraft

32,219

39,029

43,713

48,063

51,460

51,323

32,726

34,504

Other short term loans (5)

36,585

35,159

36,521

40,089

21,913

20,286

23,290

25,536

Total external liabilities

126,140

150,633

150,303

168,872

91,568

100,777

93,916

104,151

(of which total bank borrowing)

(72,741)

(99,154)

(72,224)

(84,635)

(61,593)

(72,162)

(55,126)

(62,998)

Net worth

1,422,780

1,431,209

1,013,459

1,097,610

842,730

870,675

835,341

874,603

Total external liabilities as a percentage of total assets

8

10

13

13

10

10

10

11

(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.

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