Economic Report on Scottish Agriculture: 2008 Edition

Table A5 Estimated balance sheet for Scottish agriculture at current prices, 1998 to 2007⁽¹⁾

ASSETS:
	1998	1999	2000	2001⁽²⁾⁽⁴⁾	2002⁽⁴⁾	2003⁽⁴⁾	2004⁽⁴⁾	2005⁽⁴⁾	2006⁽⁴⁾ (2nd Prov)	2007⁽⁴⁾ (1st Prov)
Fixed:	£ million	£ million	£ million	£ million	£ million	£ million	£ million	£ million	£ million	£ million
Land and buildings ⁽³⁾	9,585	9,770	10,220	10,490	11,210	11,280	11,465	11,550	11,665	11,780
Plant and machinery	640	625	635	615	615	575	585	590	610	635
Farm vehicles	60	60	55	55	55	60	65	65	70	70
Farm cars	60	60	55	55	50	50	50	50	50	50
Breeding livestock	660	590	590	710	760	850	810	675	635	650
Total fixed assets	11,005	11,100	11,560	11,920	12,690	12,810	12,965	12,930	13,025	13,190
Current:
Trading livestock	325	355	355	435	415	405	410	455	475	460
Crops and stores	160	115	150	170	140	185	165	150	235	240
Financial	695	695	690	840	735	855	685	790	805	990
Total current assets	1,180	1,170	1,195	1,450	1,285	1,445	1,255	1,395	1,510	1,690
TOTAL ASSETS	12,190	12,270	12,755	13,370	13,975	14,260	14,225	14,320	14,535	14,875
LIABILITIES:
Long term:
Bank loans	255	255	285	320	385	460	465	525	520	575
Other	225	205	195	215	250	325	320	360	355	390
Total long term	475	465	480	530	640	780	790	885	875	965
Short term:
Bank	790	840	870	840	825	775	750	845	850	940
Other	325	300	295	300	330	365	335	375	375	460
Total short term	1,120	1,140	1,165	1,145	1,155	1,140	1,090	1,225	1,225	1,395
TOTAL LIABILITIES	1,595	1,605	1,645	1,675	1,795	1,920	1,875	2,105	2,100	2,360
NET WORTH	10,595	10,665	11,110	11,695	12,180	12,340	12,345	12,215	12,435	12,515
Net worth as % of total assets	87	87	87	87	87	87	87	85	86	84

(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 data.

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