Farm Incomes in Scotland 2006/07

TABLE 6(a): AVERAGE OPENING AND CLOSING BALANCE SHEETS BY TENURE AND TYPE OF FARM 2006/07
OWNER-OCCUPIED FARMS

Type of Farms		Specialist Sheep ( LFA)		Specialist Beef ( LFA)		Cattle and Sheep ( LFA)		Cereals		General Cropping		Dairy		Lowground Cattle & Sheep		Mixed		All Farm types
Number of Farms in Sample		23		48		18		30		17		39		5		21		201
		OV	CV	OV	CV	OV	CV	OV	CV	OV	CV	OV	CV	OV	CV	OV	CV	OV	CV
Assets	Land and Buildings etc (1)	252,610	278,013	356,459	371,357	384,061	425,003	811,945	885292	778,755	779,638	512,166	530,918	"	"	627,493	641,132	513,331	537,723
	Other Fixed Assets (2)	57,184	63,368	96,105	102,202	106,953	114,499	68,139	72580	75,485	72,820	119,226	133,866	"	"	92,757	95,577	87,829	93,548
	Current Assets (3)	59,710	55,262	163,739	173,143	148,073	141,272	203,669	226033	144,671	142,456	227,002	234,304	"	"	221,142	228,018	168,449	174,783
	Total Assets	366,569	396,643	615,687	646,702	639,471	680,774	1,085,583	1,183,905	1,002,969	994,914	863,300	899,089	"	"	938,268	964,727	770,285	806,054
Liabilities	Bank Loans	515	506	18,330	22,596	52,574	51,416	13,661	10,547	16,097	15,489	37,106	34,905	"	"	8,809	7,754	20,328	20,402
	Other Long and Medium Term Loans (4)	7,027	9,329	5,249	4,832	10,117	9,909	6,558	25,123	27,924	21,343	22,507	23,361	"	"	7,402	7,401	15,724	17,461
	Bank Overdraft	14,316	15,694	28,829	24,221	70,370	79,674	34,433	32,119	55,125	50,747	39,964	42,807	"	"	60,626	67,400	40,003	40,431
	Other Short Term Loans (5)	14,066	17,613	10,973	13,992	15,953	16,803	15,975	20,672	12,206	11,697	26,516	28,744	"	"	19,927	23,007	16,273	17,864
	Total External Liabilities	35,923	43,142	63,381	65,640	149,014	157,802	70,628	88,462	111,352	99,277	126,093	129,818	"	"	96,763	105,562	92,329	96,158
	(of which Total Bank Borrowing)	(14,830)	(16,200)	(47,159)	(46,816)	(122,944)	(131,090)	(48,094)	(42,666)	(71,222)	(66,237)	(77,070)	(77,713)	"	"	(69,435)	(75,154)	(60,331)	(60,833)
Net Worth		330,646	353,502	552,306	581,062	490,457	522,972	1,014,956	1,095,444	891,617	895,637	737,207	769,271	"	"	841,504	859,165	677,956	709,896
Total External Liabilities as a Percentage of Total Assets		10	11	10	10	23	23	7	7	11	10	15	14	"	"	10	11	12	12

(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.

TABLE 6(b): AVERAGE OPENING AND CLOSING BALANCE SHEETS BY TENURE AND TYPE OF FARM 2006/07
TENANTED

Type of Farms		Specialist Sheep ( LFA)		Specialist Beef ( LFA)		Cattle and Sheep ( LFA)		Cereals		General Cropping		Dairy		Lowground Cattle & Sheep		Mixed		All Farm types
Number of Farms in Sample		6		38		23		12		7		6		3		15		110
		OV	CV	OV	CV	OV	CV	OV	CV	OV	CV	OV	CV	OV	CV	OV	CV	OV	CV
Assets	Land and Buildings etc (1)	32,081	33,639	15,439	16,591	11,674	12,521	42937	46948	6,831	24,222	25,685	37,625	"	"	5,272	4,838	20,542	24,132
	Other Fixed Assets (2)	42,291	44,304	101,994	108,505	90,611	98,911	49,009	47,529	68,923	71,491	87,380	98,101	"	"	94,416	97,088	76,447	80,815
	Current Assets (3)	45,227	43,734	178,669	174,176	138,153	131,374	144,158	151,302	196,299	197,249	186,403	193,064	"	"	173,366	175,875	138,150	136,897
	Total Assets	115,640	121,676	296,472	299,271	237,028	242,807	236,607	245,780	274,986	292,962	294,924	328,790	"	"	275,499	277,801	234,039	241,844
Liabilities	Bank Loans	1689	1141	5,576	1,549	2,863	961	13796	12340	0	14,585	8,633	16,420	"	"	935	736	4,252	4,602
	Other Long and Medium Term Loans (4)	3,803	3,216	7,399	7,284	3,132	2,979	11,445	12,176	4,477	3,885	5,783	5,783	"	"	955	311	5,170	4,935
	Bank Overdraft	5,746	3,482	32,596	33,361	17,078	18,623	52,885	54,581	7,075	11,898	39,016	53,451	"	"	24,943	21,118	22,495	23,692
	Other Short Term Loans (5)	3,194	4,179	16,698	15,294	12,393	15,401	20,999	17,528	14,578	13,097	12,573	14,312	"	"	16,391	18,388	12,972	13,145
	Total External Liabilities	14,432	12,018	62,269	57,488	35,466	37,964	99,125	96,626	26,131	43,464	66,005	89,966	"	"	43,224	40,554	44,888	46,374
	(of which Total Bank Borrowing)	(7,435)	(4,623)	(38,172)	(34,910)	(19,941)	(19,584)	(66,681)	(66,922)	(7,075)	(26,483)	(47,649)	(69,871)	"	"	(25,878)	(21,855)	(26,747)	(28,294)
Net Worth		101,209	109,658	234,202	241,783	201,562	204,843	137,482	149,154	248,856	249,498	228,919	238,824	"	"	232,275	237,248	189,151	195,471
Total External Liabilities as a Percentage of Total Assets		12	10	21	19	15	16	42	39	10	15	22	27	"	"	16	15	19	19

TABLE 6(c): AVERAGE OPENING AND CLOSING BALANCE SHEETS BY TENURE AND TYPE OF FARM 2006/07
MIXED TENURE

Type of Farms		Specialist Sheep ( LFA)		Specialist Beef ( LFA)		Cattle and Sheep ( LFA)		Cereals		General Cropping		Dairy		Lowground Cattle & Sheep		Mixed		All Farm types
Number of Farms in Sample		11		32		18		12		16		17		3		25		134
		OV	CV	OV	CV	OV	CV	OV	CV	OV	CV	OV	CV	OV	CV	OV	CV	OV	CV
Assets	Land and Buildings etc (1)	192,739	215,421	291,460	331,962	391,685	399,662	507343	522104	771,024	813,255	348,464	398,568	"	"	435,438	451,339	405,156	432,829
	Other Fixed Assets (2)	42,461	43,590	110,437	117,566	119,573	124,634	93,714	94,673	128,940	138,149	124,657	135,089	"	"	105,235	104,825	109,289	114,802
	Current Assets (3)	73,210	70,717	189,615	189,208	167,796	169,131	171,376	183,917	201,033	229,124	197,414	204,455	"	"	266,068	267,988	189,890	196,670
	Total Assets	302,438	329,729	593,575	638,736	676,471	693,427	773,789	800,694	1,101,987	1,180,529	678,036	738,111	"	"	809,637	824,152	705,315	744,300
Liabilities	Bank Loans	766	6493	7,267	11,386	5,018	10,544	14,159	14,720	27,289	40,267	33,917	48,064	"	"	34,702	33,248	17,653	22,817
	Other Long and Medium Term Loans (4)	4,344	3,485	10,516	5,159	19,392	18,507	17,667	17,408	15,776	15,565	19,609	21,927	"	"	42,128	39,796	18,263	16,988
	Bank Overdraft	8,213	3,363	21,785	27,091	20,033	21,690	47,491	41,387	91,090	77,718	47,376	38,443	"	"	33,425	32,451	38,146	33,156
	Other Short Term Loans (5)	3,582	4,157	15,992	16,703	21,981	14,764	30,119	25,984	48,676	42,177	23,969	25,004	"	"	18,900	21,421	23,780	21,673
	Total External Liabilities	16,905	17,497	55,560	60,340	66,425	65,504	109,436	99,499	182,831	175,726	124,871	133,438	"	"	129,155	126,915	97,843	94,633
	(of which Total Bank Borrowing)	(8,979)	(9,856)	(29,052)	(38,477)	(25,051)	(32,233)	(61,649)	(56,108)	(118,379)	(117,984)	(81,293)	(86,506)	"	"	(68,127)	(65,698)	(55,800)	(55,972)
Net Worth		285,532	312,232	538,015	578,396	610,046	627,923	664,353	701,195	919,155	1,004,803	553,165	604,674	"	"	680,482	697,237	607,472	649,667
Total External Liabilities as a Percentage of Total Assets		6	5	9	9	10	9	14	12	17	15	18	18	"	"	16	15	14	13

TABLE 6(d): AVERAGE OPENING AND CLOSING BALANCE SHEETS BY TENURE AND TYPE OF FARM 2006/07
ALL TENURES

Type of Farms		Specialist Sheep ( LFA)		Specialist Beef ( LFA)		Cattle and Sheep ( LFA)		Cereals		General Cropping		Dairy		Lowground Cattle & Sheep		Mixed		All Farm types
Number of Farms in Sample		40		118		59		54		40		62		11		61		445
		OV	CV	OV	CV	OV	CV	OV	CV	OV	CV	OV	CV	OV	CV	OV	CV	OV	CV
Assets	Land and Buildings etc (1)	148,947	163,748	270,058	286,885	264,170	284,304	604,654	652,998	621,081	634,252	408,046	433,218	270,480	271,264	463,929	475,428	373,036	393,125
	Other Fixed Assets (2)	48,456	52,044	100,129	106,514	104,564	111,775	69,707	72,322	85,731	86,694	116,191	129,316	92,594	101,971	96,016	98,046	89,531	94,885
	Current Assets (3)	55,722	52,850	171,937	176,447	149,443	144,552	185,858	203,350	167,306	172,291	214,583	221,737	169,861	181,790	222,662	227,539	165,619	170,228
	Total Assets	249,262	268,642	542,236	569,845	516,628	540,632	861,703	928,671	877,284	893,237	743,056	784,271	534,469	555,025	781,962	801,013	628,500	658,238
Liabilities	Bank Loans	1056	1745	13,444	15,883	25,212	25,374	13,788	11,733	15,267	20,670	32,509	35,487	21,705	19,298	13,422	12,435	15,927	17,118
	Other Long and Medium Term Loans (4)	5,219	5,778	6,725	5,426	10,003	9,655	9,736	21,108	20,556	16,564	19,567	20,648	74,335	73,346	14,370	13,697	13,721	14,364
	Bank Overdraft	9,676	8,495	28,295	26,753	41,188	46,169	40,573	38,249	53,200	48,735	41,571	43,225	24,028	15,241	47,427	50,359	35,429	34,922
	Other Short Term Loans (5)	7,737	9,711	13,177	14,794	16,199	15,868	19,795	21,155	20,580	18,578	24,034	25,917	30,777	15,364	19,012	21,755	17,032	17,520
	Total External Liabilities	23,688	25,730	61,640	62,856	92,603	97,066	83,892	92,245	109,603	104,547	117,681	125,276	150,845	123,250	94,231	98,246	82,109	83,925
	(of which Total Bank Borrowing)	(10,732)	(10,240)	(41,739)	(42,636)	(66,400)	(71,543)	(54,361)	(49,982)	(68,467)	(69,405)	(74,080)	(78,711)	(45,733)	(34,539)	(60,849)	(62,794)	(51,356)	(52,040)
Net Worth		225,574	242,913	480,596	506,989	424,025	443,566	777,811	836,425	767,681	788,690	625,375	658,995	383,624	431,775	687,731	702,767	546,391	574,313
Total External Liabilities as a Percentage of Total Assets		10	10	11	11	18	18	10	10	12	12	16	16	28	22	12	12	13	13

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 receip
(6) Farm businesses that were not clearly either wholly or mainly owner occupied or tenanted were excluded from the balance sheet data. In addition farms with untypical balance sheet data were also excluded.

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Farm Incomes in Scotland 2006/07