Table B4 Average opening and closing balance sheets by tenure and type of farm 1996


Table B4 Average opening and closing balance sheets by tenure and type of farm 1996-97: tenanted 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	24		21		36		2
	Valuation		Valuation		Valuation		Valuation
	Opening	Closing	Opening	Closing	Opening	Closing	Opening	Closing
Assets
Land and buildings etc (1)	13,676	16,516	6,170	5,750	12,793	13,235	"	"
Other fixed assets (2)	41,709	42,604	86,627	88,409	87,672	88,123	"	"
Current assets (3)	50,663	51,756	79,209	82,220	83,792	91,260	"	"
Total assets	106,048	110,877	172,007	176,379	184,258	192,618	"	"

Liabilities
Bank loans	525	794	376	901	1,580	3,796	"	"
Other long and medium term loans (4)	3,771	5,180	3,638	3,700	3,997	3,750	"	"
Bank overdraft	2,518	2,557	10,236	7,586	17,459	13,592	"	"
Other short term loans (5)	3,452	3,505	8,080	10,560	10,269	12,930	"	"
Total external liabilities	10,266	12,035	22,330	22,747	33,305	34,068	"	"
(of which total bank borrowing)	3,043	3,351	10,612	8,487	19,038	17,388	"	"

Net worth	95,782	98,842	149,676	153,632	150,953	158,550	"	"

Total external liabilities as
a percentage of total assets	10	11	13	13	18	18	"	"

Type of farm	Cereals (6)		General cropping		Dairy		Mixed
Number of farms in sample	5		9		10		18
	Valuation		Valuation		Valuation		Valuation
	Opening	Closing	Opening	Closing	Opening	Closing	Opening	Closing
Assets
Land and buildings etc (1)	"	"	7,074	8,685	27,871	29,121	2,164	2,345
Other fixed assets	"	"	99,486	104,254	109,233	105,088	58,548	62,155
Current assets (3)	"	"	89,318	82,863	232,019	195,646	94,956	98,825
Total assets	"	"	195,879	195,802	369,122	329,855	155,668	163,325

Liabilities
Bank loans	"	"	0	0	3,574	10,000	0	338
Other long and medium term loans (4)	"	"	6,941	6,554	5,877	6,824	52	52
Bank overdraft	"	"	26,655	23,699	25,288	31,974	5,605	4,534
Other short term loans (5)	"	"	30,727	31,094	31,608	28,016	9,454	16,396
Total external liabilities	"	"	64,323	61,346	66,347	76,814	15,110	21,320
(of which total bank borrowing)	"	"	26,655	23,699	28,862	41,974	5,605	4,872

Net worth	"	"	131,556	134,456	302,775	253,041	140,558	142,005

Total external liabilities as
a percentage of total assets	"	"	33	31	18	23	10	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 receipts in advance. (6) Fewer than 6 farms in the sample.