Economic Report on Scottish Agriculture 2011 Edition

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Table B6(b) Average opening and closing balance sheets by tenure and type of farm 2009/10: Tenanted Farms

Type of farm

Specialist sheep
( LFA)

Specialist beef
( LFA)

Cattle and sheep
( LFA)

Cereals

Number of farms in sample

8

33

19

14

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)

63,504

63,893

16,969

16,652

26,092

25,244

11,809

11,209

Other fixed assets (2)

68,553

80,833

104,297

124,719

128,900

145,201

77,023

85,035

Current assets (3)

158,111

140,107

185,761

185,347

161,960

153,686

224,250

195,447

Total assets

290,168

284,832

307,028

326,718

316,953

324,131

313,081

291,691

Liabilities

Bank loans

2,677

2,677

1,012

8,048

242

0

6,953

5,912

Other long and medium term loans (4)

15,131

15,131

1,531

2,259

3,681

3,491

1,090

1,090

Bank overdraft

237

0

15,223

14,482

15,084

17,022

21,395

21,270

Other short term loans (5)

12,466

13,081

12,380

14,604

21,743

20,399

23,153

24,781

Total external liabilities

30,511

30,890

30,146

39,393

40,750

40,912

52,591

53,053

(of which total bank borrowing)

2,914

2,677

(16,236)

(22,530)

(15,326)

(17,022)

(28,348)

(27,182)

Net worth

259,657

253,943

276,881

287,325

276,203

283,219

260,490

238,639

Total external liabilities as a percentage of total assets

11

11

10

12

13

13

17

18

Type of farm

General cropping

Dairy

Mixed

All farm types (6)

Number of farms in sample

7

5

16

106

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)

20,221

28,847

47,586

56,678

8,638

10,305

29,513

30,948

Other fixed assets (2)

162,892

192,333

175,420

194,677

113,170

122,385

109,548

125,828

Current assets (3)

344,238

283,940

270,115

263,708

223,452

216,239

207,822

196,174

Total assets

527,350

505,120

493,120

515,063

345,260

348,929

346,882

352,950

Liabilities

Bank loans

11,481

11,481

11,555

10,276

0

447

3,850

4,964

Other long and medium term loans (4)

4,614

5,797

7,886

31,995

0

745

5,400

7,124

Bank overdraft

14,858

21,449

30,177

45,960

25,168

26,992

15,304

16,951

Other short term loans (5)

31,202

37,542

15,586

23,810

21,093

17,491

18,245

24,860

Total external liabilities

62,154

76,268

65,204

112,041

46,261

45,675

42,800

53,900

(of which total bank borrowing)

(26,339)

(32,929)

(41,731)

(56,236)

(25,168)

(27,439)

(19,154)

(21,915)

Net worth

465,196

428,852

427,916

403,022

298,999

303,254

304,082

299,051

Total external liabilities as a percentage of total assets

12

15

13

22

13

13

12

15

(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.
(6) Includes Lowground Cattle & Sheep farms not identified separately above.

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