Table B3 Average opening and closing balance sheets by tenure and type of farm


Table B3 Average opening and closing balance sheets by tenure and type of farm, 1996-97: owner occupied farms							£ per farm
Type of farm	LFA: Specialist sheep		LFA: Specialist beef		LFA: Cattle and sheep		Lowground cattle and sheep (6)
Number of farms in sample	23		51		34		4
	Valuation		Valuation		Valuation		Valuation
	Opening	Closing	Opening	Closing	Opening	Closing	Opening	Closing
Assets
Land and buildings etc (1)	155,022	175,298	152,007	157,274	267,012	271,168	"	"
Other fixed assets (2)	44,853	48,060	65,570	64,343	88,394	90,493	"	"
Current assets (3)	59,985	68,211	64,038	67,273	98,954	95,811	"	"
Total assets	259,860	291,568	281,615	288,890	454,360	457,472	"	"

Liabilities
Bank loans	974	491	6,806	6,725	8,089	7,063	"	"
Other long and medium term loans (4)	8,165	12,269	6,871	6,796	12,236	11,834	"	"
Bank overdraft	16,436	16,082	27,329	26,356	42,132	35,102	"	"
Other short term loans (5)	6,119	7,765	8,617	7,857	10,934	11,896	"	"
Total external liabilities	31,694	36,606	49,623	47,733	73,391	65,894	"	"
(of which total bank borrowing)	17,410	16,573	34,135	33,080	50,221	42,164	"	"

Net worth	228,165	254,962	231,992	241,157	380,969	391,578	"	"


Total external liabilities as
a percentage of total assets	12	13	18	17	16	14	"	"


Type of farm	Cereals		General cropping		Dairy		Mixed
Number of farms in sample	14		24		51		37
	Valuation		Valuation		Valuation		Valuation
	Opening	Closing	Opening	Closing	Opening	Closing	Opening	Closing
Assets
Land and buildings etc (1)	324,540	367,126	553,412	612,823	273,046	297,429	325,307	324,689
Other fixed assets (2)	57,311	64,422	76,975	85,804	116,075	114,896	71,831	72,450
Current assets (3)	88,317	95,449	137,129	121,491	326,152	299,361	93,987	99,931
Total assets	470,168	526,997	767,517	820,118	715,274	711,686	491,126	497,069

Liabilities
Bank loans	3,940	37,913	12,409	17,420	9,715	13,075	8,587	7,601
Other long and medium term loans (4)	11,769	10,799	5,202	5,404	6,696	7,752	18,608	17,549
Bank overdraft	45,929	39,966	22,679	13,361	35,569	36,967	46,311	43,918
Other short term loans (5)	26,291	32,012	20,359	24,362	19,154	20,280	12,958	12,524
Total external liabilities	87,929	120,690	60,648	60,548	71,134	78,074	86,464	81,592
(of which total bank borrowing)	49,869	77,879	35,088	30,781	45,284	50,042	54,898	51,519

Net worth	382,239	406,307	706,869	759,570	644,139	633,611	404,661	415,477

Total external liabilities as
a percentage of total assets	19	23	8	7	10	11	18	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. (6) Fewer than 6 farms in the sample.