Economic Report on Scottish Agriculture: 2005 Edition

Table A5 Estimated balance sheet for Scottish agriculture at current prices, 1996 to 2004⁽¹⁾

	1996	1997	1998	1999	2000	2001⁽²⁾⁽⁴⁾	2002⁽⁴⁾(Prov)	2003⁽⁴⁾(Prov)	2004⁽⁴⁾(Prov)
ASSETS:
Fixed:	£ million	£ million	£ million	£ million	£ million	£ million	£ million	£ million	£ million
Land and buildings(3)	8,055	8,970	9,590	9,770	10,220	10,775	11,245	11,175	11,545
Plant and machinery	680	660	630	615	630	605	610	560	550
Farm vehicles	65	65	60	60	60	60	60	55	55
Farm cars	60	60	60	55	55	55	55	55	60
Breeding livestock	985	840	660	590	590	710	725	850	820
Total fixed assets	9,845	10,590	10,995	11,090	11,550	12,200	12,690	12,700	13,040
Current:
Trading livestock	470	395	325	355	355	435	415	405	415
Crops and stores	135	140	160	115	150	170	140	185	155
Financial	730	755	695	695	690	840	675	860	960
Total current assets	1,335	1,290	1,180	1,170	1,195	1,450	1,225	1,455	1,530
TOTAL ASSETS	11,180	11,875	12,180	12,255	12,750	13,650	13,915	14,155	14,570
LIABILITIES:
Long term:
Bank loans	200	255	255	255	285	320	365	410	430
Other	215	230	225	205	195	215	225	310	330
Total long term	415	485	475	465	480	530	585	720	760
Short term:
Bank	700	750	790	840	870	840	850	825	830
Other	370	365	325	300	295	300	315	375	400
Total short term	1,070	1,120	1,120	1,140	1,165	1,145	1,165	1,200	1,225
TOTAL LIABILITIES	1,485	1,600	1,595	1,605	1,645	1,675	1,750	1,920	1,990
NET WORTH	9,700	10,275	10,585	10,650	11,105	11,975	12,160	12,230	12,580
Net worth as % of total assets	87	87	87	87	87	88	87	86	86

(1) Rounded to the nearest £5 million. Individual items may not sum to total.
(2) Foot and mouth disease compensation amounting to £177 million was paid to Scottish farmers: this was used either to increase the value of assets or to reduce liabilities, particularly bank borrowings.
(3) The value of land and buildings does not include the domestic share of dwellings, but does include the business share ie the value of the proportion of the farmhouse used for business purposes.
(4) The value of land and buildings has been estimated from Farm Accounts Data, due to a lack of land sales.

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Economic Report on Scottish Agriculture: 2005 Edition