Economic Report on Scottish Agriculture 2006 Edition

Table B6 Average opening and closing balance sheets by tenure and type of farm, 2004-05: all tenures

Type of farm	LFA:S pecialist sheep		LFA Specialist beef:		LFA: Cattle and sheep		Lowground Cattle and sheep		Cereals		General cropping		Dairy		Mixed
Number of farms in sample	45		116		61		9		48		46		62		61
	Valuation		Valuation		Valuation		Valuation		Valuation		Valuation		Valuation		Valuation
	Opening	Closing	Opening	Closing	Opening	Closing	Opening	Closing	Opening	Closing	Opening	Closing	Opening	Closing	Opening	Closing
Assets	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm	£/farm
Land and buildings etc ⁽¹⁾	142,935	147,231	215,324	230,215	191,563	201,746	242,939	243,492	579,132	627,377	537,028	545,532	362,912	392,644	404,393	420,355
Other fixed assets ⁽²⁾	44,955	46,186	98,768	99,035	90,271	91,238	80,011	77,617	71,359	70,239	72,017	75,583	117,866	117,963	89,109	89,818
Current assets ⁽³⁾	36,113	31,373	120,244	92,459	88,860	70,012	123,289	112,022	98,147	94,909	97,225	94,611	255,208	202,447	128,995	109,293
Total assets	224,004	224,790	434,336	421,709	370,695	362,995	446,239	433,130	748,638	792,525	706,270	715,726	735,986	713,054	622,497	619,467
Liabilities
Bank loans	1,957	2,763	13,166	12,968	12,486	15,770	8,085	7,949	16,006	33,779	50,908	50,427	23,851	26,123	27,303	26,882
Other long and medium term loans ⁽⁴⁾	7,892	7,724	5,047	4,230	5,045	4,575	12,715	11,975	14,526	15,537	29,000	29,642	19,937	19,783	13,008	18,989
Bank overdraft	8,758	8,705	22,587	23,852	38,981	36,983	20,240	25,149	25,550	25,811	60,232	70,843	42,476	41,950	44,379	40,199
Other short term loans ⁽⁵⁾	6,068	6,889	12,636	13,301	13,062	11,723	11,582	11,741	19,507	19,290	23,536	25,374	22,595	23,121	18,032	18,241
Total external liabilities	24,675	26,081	53,437	54,350	69,575	69,051	52,623	56,814	75,589	94,417	163,675	176,287	108,859	110,977	102,722	104,311
(of which total bank borrowing)	(10,714)	(11,468)	(35,753)	(36,820)	(51,468)	(52,753)	(28,325)	(33,098)	(41,556)	(59,590)	(111,140)	(121,271)	(66,327)	(68,073)	(71,682)	(67,081)
Net worth	199,329	198,709	380,899	367,359	301,120	293,944	393,616	376,316	673,049	698,108	542,595	539,439	627,127	602,077	519,776	515,156
Total external liabilities as a percentage of total assets	11	12	12	13	19	19	12	13	10	12	23	25	15	16	17	17

(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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