Farm Incomes in Scotland 2007/08

TABLE 6(a)
AVERAGE OPENING AND CLOSING BALANCE SHEETS BY TENURE AND TYPE OF FARM 2007/08
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		21		48		19		31		13		36		6		26		200
		OV	CV	OV	CV	OV	CV	OV	CV	OV	CV	OV	CV	OV	CV	OV	CV	OV	CV
Assets
	Land and Buildings etc (1)	283,028	404,785	396,415	458,451	381,958	489,177	895,450	903,287	767,900	814,821	576,360	698,760	"	"	651,029	699,108	552,788	622,839
	Other Fixed Assets (2)	54,866	50,311	100,433	102,585	101,468	105,188	64,951	77,338	69,171	85,028	136,766	159,499	"	"	92,095	94,317	90,074	97,590
	Current Assets (3)	57,343	68,318	160,983	164,531	135,027	147,564	204,894	272,289	154,712	159,701	217,630	241,734	"	"	222,891	234,053	170,099	187,693
	Total Assets	394,936	523,414	658,456	725,568	617,337	741,930	1,163,261	1,252,915	991,448	1,059,550	937,897	1,099,994	"	"	965,092	1,027,478	813,172	908,121
Liabilities
	Bank Loans	2,707	2,435	21,802	24,522	52,168	45,154	13,435	10,562	4,379	8,286	31,320	22,370	"	"	10,950	10,443	19,347	19,196
	Other Long and Medium Term Loans (4)	5,888	5,947	5,266	5,180	10,671	10,520	28,327	27,902	14,130	7,443	30,756	45,019	"	"	5,068	5,121	16,405	16,024
	Bank Overdraft	16,766	17,549	30,961	34,374	69,501	61,661	36,440	34,853	40,826	46,036	40,675	37,715	"	"	61,304	62,397	39,663	40,009
	Other Short Term Loans (5)	12,319	6,842	15,119	15,851	14,266	14,520	21,448	22,633	9,851	17,550	28,591	35,455	"	"	21,928	21,508	17,098	18,652
	Total External Liabilities	37,680	32,773	73,148	79,927	146,606	131,855	99,651	95,951	69,187	79,315	131,342	140,560	"	"	99,251	99,469	92,513	93,881
	(of which Total Bank Borrowing)	(19,474)	(19,984)	(52,763)	(58,896)	(121,669)	(106,815)	(49,876)	(45,415)	(45,206)	(54,322)	(71,995)	(60,085)	"	"	(72,254)	(72,840)	(59,010)	(59,205)
Net Worth		357,256	490,641	585,308	645,641	470,731	610,075	1,063,610	1,156,964	922,261	980,235	806,555	959,434	"	"	865,842	928,009	720,659	814,240
Total External Liabilities as a Percentage of Total Assets		10	6	11	11	24	18	9	8	7	7	14	13	"	"	10	10	11	10

(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 2007/08
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		4		34		25		10		8		5		3		14		103
Assets
	Land and Buildings etc (1)	"	"	18,529	17,575	11,768	12,221	55,543	59,719	19,302	16,018	48,076	46,380	"	"	6,742	6,035	29,623	29,260
	Other Fixed Assets (2)	"	"	105,888	109,725	91,848	91,664	42,706	46,575	90,285	99,545	111,831	139,021	"	"	97,966	108,631	83,891	88,989
	Current Assets (3)	"	"	178,173	190,589	117,576	123,322	127,695	141,765	214,049	241,287	204,606	224,187	"	"	172,353	179,983	137,687	147,462
	Total Assets	"	"	302,565	317,889	220,641	227,207	226,459	248,059	323,598	356,850	368,230	409,587	"	"	275,560	294,649	251,176	265,712
Liabilities
	Bank Loans	"	"	1,211	1,774	326	0	12,971	8,732	15,646	13,558	22,506	17,014	"	"	956	686	5,280	4,450
	Other Long and Medium Term Loans (4)	"	"	1,934	1,707	2,759	2,708	10,103	11,349	5,895	5,448	7,816	7,816	"	"	0	0	4,346	4,432
	Bank Overdraft	"	"	23,872	27,663	15,286	13,856	37,853	28,135	18,940	9,296	67,602	40,551	"	"	23,566	22,881	22,725	18,886
	Other Short Term Loans (5)	"	"	15,149	14,661	11,439	12,655	19,230	19,522	15,306	17,705	18,499	21,978	"	"	17,518	24,109	13,917	14,596
	Total External Liabilities	"	"	42,166	45,806	29,811	29,219	80,158	67,738	55,787	46,008	116,423	87,358	"	"	42,040	47,677	46,268	42,364
	(of which Total Bank Borrowing)	"	"	(25,083)	(29,438)	(15,613)	(13,856)	(50,824)	(36,867)	(34,586)	(22,855)	(90,108)	(57,564)	"	"	(24,522)	(23,568)	(28,005)	(23,336)
Net Worth		"	"	260,400	272,084	190,830	197,987	146,301	180,321	267,812	310,842	251,808	322,230	"	"	233,521	246,972	204,909	223,348
Total External Liabilities as a Percentage of Total Assets		"	"	14	14	14	13	35	27	17	13	32	21	"	"	15	16	18	16

TABLE 6(c)
AVERAGE OPENING AND CLOSING BALANCE SHEETS BY TENURE AND TYPE OF FARM 2007/08
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		24		18		17		16		16		3		21		126
Assets
	Land and Buildings etc (1)	219,959	229,976	325,291	382,174	307,185	353,067	549,091	564,476	666,719	787,213	447,652	579,565	"	"	488,215	544,056	414,857	477,541
	Other Fixed Assets (2)	56,483	54,847	118,993	121,316	126,760	127,044	103,586	118,806	125,441	163,633	138,650	165,988	"	"	98,165	110,245	115,606	127,964
	Current Assets (3)	78,663	75,854	183,080	192,549	180,750	180,873	209,198	246,297	344,981	303,582	211,248	237,350	"	"	241,981	259,622	211,649	218,834
	Total Assets	355,099	360,677	625,325	696,039	613,685	660,985	868,642	929,579	1,135,344	1,254,428	803,841	982,903	"	"	830,952	913,923	743,404	824,338
Liabilities
	Bank Loans	14,290	13,385	11,168	12,095	7,300	9,197	38,197	31,190	44,502	39,699	78,566	61,902	"	"	22,344	19,979	28,879	25,264
	Other Long and Medium Term Loans (4)	4,157	3,562	4,776	11,282	27,963	12,617	13,863	12,991	19,468	19,289	21,279	17,756	"	"	42,630	43,402	18,373	17,280
	Bank Overdraft	10,998	14,986	29,447	32,212	19,883	17,984	25,824	21,222	93,027	75,953	40,902	41,691	"	"	40,403	46,069	35,396	34,448
	Other Short Term Loans (5)	4,553	6,464	16,408	12,241	15,355	13,565	22,181	32,624	35,004	74,277	35,241	36,375	"	"	21,851	26,228	21,684	27,749
	Total External Liabilities	33,997	38,396	61,800	67,830	70,502	53,362	100,065	98,028	192,001	209,218	175,988	157,724	"	"	127,227	135,678	104,332	104,741
	(of which Total Bank Borrowing)	(25,288)	(28,370)	(40,615)	(44,307)	(27,184)	(27,181)	(64,021)	(52,413)	(137,529)	(115,652)	(119,468)	(103,593)	"	"	(62,747)	(66,048)	(64,275)	(59,711)
Net Worth		321,102	322,281	563,525	628,209	543,183	607,623	768,577	831,551	943,343	1,045,210	627,853	825,180	"	"	703,725	778,245	639,073	719,598
Total External Liabilities as a Percentage of Total Assets		10	11	10	10	11	8	12	11	17	17	22	16	"	"	15	15	14	13

TABLE 6(d)
AVERAGE OPENING AND CLOSING BALANCE SHEETS BY TENURE AND TYPE OF FARM 2007/08
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		36		106		62		58		37		57		12		61		429
Assets
	Land and Buildings etc (1)	174,818	226,492	303,282	351,152	242,257	300,352	668,084	676,860	604,104	657,289	473,485	581,401	313,164	393,102	492,191	532,900	401,671	453,749
	Other Fixed Assets (2)	53,532	51,993	105,327	107,865	103,887	105,545	69,117	80,550	85,257	104,657	133,849	158,307	122,717	130,631	94,606	100,700	94,027	102,002
	Current Assets (3)	56,935	60,670	169,039	175,633	139,379	146,901	191,697	242,887	206,817	206,071	214,312	238,291	231,533	238,141	217,818	229,818	171,321	184,893
	Total Assets	285,102	339,154	577,599	634,650	484,617	552,797	929,205	1,000,297	895,585	968,017	828,117	977,998	665,013	761,874	804,397	863,418	667,405	740,645
Liabilities
	Bank Loans	4,340	3,727	15,359	17,266	24,965	22,154	18,627	14,623	15,130	16,030	41,634	31,273	19,793	33,973	11,713	10,820	18,081	17,040
	Other Long and Medium Term Loans (4)	5,163	5,200	4,472	5,692	11,880	8,388	21,913	21,698	13,713	9,607	25,342	33,342	57,544	40,991	12,823	13,033	14,009	13,587
	Bank Overdraft	11,000	11,326	29,177	32,538	40,454	36,065	34,436	30,720	47,878	45,485	44,376	39,067	19,080	16,727	49,366	51,185	34,812	33,909
	Other Short Term Loans (5)	8,409	5,511	15,386	14,872	13,568	13,688	21,199	24,193	16,285	29,757	28,844	33,855	18,516	19,378	21,081	23,091	17,325	19,628
	Total External Liabilities	28,912	25,764	64,395	70,368	90,868	80,294	96,175	91,235	93,007	100,878	140,196	137,537	114,933	111,068	94,983	98,129	84,228	84,165
	(of which Total Bank Borrowing)	(15,340)	(15,053)	(44,536)	(49,804)	(65,419)	(58,219)	(53,063)	(45,344)	(63,008)	(61,515)	(86,010)	(70,341)	(38,873)	(50,700)	(61,079)	(62,005)	(52,894)	(50,949)
Net Worth		256,191	313,390	513,204	564,282	393,749	472,503	833,030	909,062	802,578	867,138	687,921	840,461	550,080	650,806	709,414	765,289	583,177	656,480
Total External Liabilities as a Percentage of Total Assets		10	8	11	11	19	15	10	9	10	10	17	14	17	15	12	11	13	11

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.

Page updated: Friday, April 24, 2009

Scottish Government

Farm Incomes in Scotland 2007/08

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Farm Incomes in Scotland 2007/08