Economic Report on Scottish Agriculture 2006 Edition

Table B4 Average opening and closing balance sheets by tenure and type of farm, 2004-05: tenanted

Type of farm	LFA: Specialist sheep		LFA:S pecialist beef		LFA: Cattle and sheep		Lowground Cattle and sheep		Cereals		General cropping		Dairy		Mixed
Number of farms in sample	10		37		24		2		7		9		8		14
Assets	Valuation		Valuation		Valuation		Valuation		Valuation		Valuation		Valuation		Valuation
	Opening	Closing	Opening	Closing	Opening	Closing	Opening	Closing	Opening	Closing	Opening	Closing	Opening	Closing	Opening	Closing
	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm
Land and buildings etc ⁽¹⁾	24,197	23,961	15,225	20,242	11,346	12,492	"	"	14,755	14,331	9,575	12,169	22,809	22,238	4,781	5,410
Other fixed assets ⁽²⁾	39,624	39,209	108,455	108,628	96,408	99,767	"	"	35,114	38,061	66,858	67,928	92,960	92,808	86,024	87,236
Current assets ⁽³⁾	32,011	25,783	121,681	98,336	100,590	80,742	"	"	70,148	66,661	89,322	85,854	160,665	147,831	105,842	89,120
Total assets	95,832	88,954	245,360	227,206	208,344	193,001	"	"	120,016	119,053	165,755	165,951	276,435	262,877	196,646	181,766
Liabilities
Bank loans	2,879	5,295	561	743	3,407	1,921	"	"	2,152	3,538	3,238	2,911	8,436	11,785	46	15
Other long and medium term loans ⁽⁴⁾	850	712	2,653	2,112	2,143	1,432	"	"	710	915	2,630	2,630	3,758	3,758	6,648	6,648
Bank overdraft	5,114	4,417	19,969	27,297	16,441	16,013	"	"	8,853	9,965	30,375	39,693	48,512	42,337	28,227	29,262
Other short term loans ⁽⁵⁾	3,109	4,674	14,194	17,045	15,871	14,134	"	"	17,596	20,010	15,328	24,733	15,781	14,871	14,142	11,616
Total external liabilities	11,953	15,098	37,377	47,197	37,862	33,501	"	"	29,310	34,428	51,570	69,967	76,488	72,750	49,063	47,541
(of which total bank borrowing)	(7,993)	(9,712)	(20,530)	(28,040)	(19,848)	(17,934)	"	"	(13,757)	(12,400)	"	"	(55,326)	(53,178)	(28,270)	(25,910)
Net worth	83,879	73,856	207,983	180,009	170,482	159,500	"	"	90,706	84,625	114,185	95,985	199,947	190,127	147,584	134,225
Total external liabilities as a percentage of total assets	12	17	15	21	18	17	"	"	24	29	31	42	28	28	25	26

(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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Economic Report on Scottish Agriculture 2006 Edition