Farm Incomes in Scotland 1997/98 Page :17

Farm Incomes in Scotland 1997/98

TABLE 6(c)

AVERAGE OPENING AND CLOSING BALANCE SHEETS BY TENURE AND TYPE OF FARM 1997/98

OWNER-OCCUPIED AND TENANTED

Type of Farms		Specialist Sheep (LFA)		Specialist Beef (LFA)		Cattle and Sheep (LFA)		Lowground Cattle and Sheep		Cereals
Number of Farms in Sample		49		75		77		6		27
		OV	CV	OV	CV	OV	CV	OV	CV	OV	CV
Assets
	Land and Buildings etc (1)	91,377	97,499	125,885	130,014	158,967	160,244	116,915	118,617	317,510	333,857
	Other Fixed Assets (2)	44,023	42,883	68,534	67,456	86,120	83,133	53,673	53,808	89,765	84,913
	Current Assets (3)	58,290	48,651	73,334	69,373	95,639	89,826	91,263	95,840	100,747	77,655
	Total Assets	193,689	189,033	267,753	266,843	340,726	333,202	261,851	268,265	508,022	496,426
Liabilities
	Bank Loans	789	706	3,545	3,771	5,230	8,569	1,841	1,555	25,897	23,585
	Other Long and Medium Term Loans (4)	6,312	5,111	9,378	8,574	9,534	10,135	6,933	61,988	8,057	7,858
	Bank Overdraft	9,206	10,080	18,205	19,625	25,333	24,410	82,183	40,557	19,894	38,748
	Other Short Term Loans (5)	5,005	8,834	9,088	10,227	12,812	10,662	19,587	23,114	30,762	26,155
	Total External Liabilities	21,312	24,731	40,216	42,197	52,910	53,776	110,544	127,214	84,610	96,346
	(of which Total Bank Borrowing)	(9,995)	(10,786)	(21,750)	(23,396)	(30,563)	(32,978)	(84,024)	(42,112)	(45,790)	(62,333)

Net Worth		172,377	164,302	227,537	224,646	287,816	279,426	151,307	141,051	423,413	400,080

Total External Liabilities as a Percentage of Total Assets		11	13	15	16	16	16	42	47	17	19

Type of Farms		General Cropping		Dairy		Mixed		All Types
Number of Farms in Sample		32		66		46		378
		OV	CV	OV	CV	OV	CV	OV	CV
Assets
	Land and Buildings etc (1)	393,816	417,509	251,102	269,725	275,144	292,677	224,041	235,498
	Other Fixed Assets (2)	96,050	90,969	111,715	105,048	84,556	81,146	82,122	78,762
	Current Assets (3)	123,228	114,070	279,089	301,696	98,910	91,735	112,591	106,889
	Total Assets	613,095	622,548	641,905	676,469	458,611	465,558	418,755	421,149
Liabilities
	Bank Loans	11,567	9,701	12,535	21,498	5,919	7,487	9,384	10,528
	Other Long and Medium Term Loans (4)	7,473	22,753	7,225	8,545	21,481	21,070	9,874	13,404
	Bank Overdraft	38,867	42,984	34,200	39,406	25,268	27,836	26,004	29,329
	Other Short Term Loans (5)	22,576	18,477	19,473	16,854	14,992	13,687	16,675	15,332
	Total External Liabilities	80,483	93,916	73,433	86,303	67,661	70,080	61,938	68,592
	(of which Total Bank Borrowing)	(50,435)	(52,686)	(46,735)	(60,904)	(31,187)	(35,323)	(35,388)	(39,856)

Net Worth		532,612	528,632	568,472	590,166	390,950	395,477	356,817	352,557
Total External Liabilities as a Percentage of Total Assets		13	15	11	13	15	15	15	16

(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.